Jump to content
CoinPeople.com

chuckplante

Members
  • Content Count

    12
  • Joined

  • Last visited

Posts posted by chuckplante

  1. I remember reading (sorry, I forget where) a story about a guy who cut the corner numbers off of $20 bills and pasted them on $1 bills to "counterfeit" them. Needless to say, the Secret Service caught him and the judge was very lenient in sentencing him.

     

    Don't know if it is the same story, but that happened with a kid living within a few miles of where my family lived during the 1960's. The biggest reason for leniency was his age. He was only 8 or 10 years old as I recall. Was an easy catch for the Secret Service as his modes of transportation, bike and walking, combined with the small town business offerings limited the establishments he hit. Never met the kid, but wonder now what he made of his life as an adult.

  2. Buying packs of 30 or so world coins seems like a cute way to get interested/started in collecting, but I don't think it would be a good idea if you're relying completely on this, well, gamble, to fund your grandson's education. However, it would be interesting to see what comes of this collection in 15 or so years when you pull it out of the safe deposit box. Who knows? Maybe grandma and grandpa will surprise Junior with a brand new car!

     

    Your resonse helped lead me to a great decision today. All my uncirculated coins, large and small denominations, are going to my grandson. There are over two thousand coins in the batch now. I'll keep adding more every year.

  3. Thanks gxseries. You articulated well a point I tried to make. With economic success comes affluence. There was a news article recently about Asian affluence driving up prices in the art world as wealthy individuals adopt Western collecting habits. We saw this starting with with Japan in the 1980's. It has now spread to other Asian nations.

     

    There is yet another factor I failed to mention earlier. That factor is the number of coins minted. I have some uncirculated small denomination coins from nations with populations of about 25 million people that produced a billion coins or more coins of a particular denomination in a given year. I don't look for these coins to ever achieve any recognizable increase in value in any condition. Larger denomination coins are always minted in lesser quantity than small denomination coins. Still, the large denomination coins will not increase greatly in value if they are minted in such quantities that they are overly common.

     

    Also, I erred a bit with my initial comments about stable governments. East European countries within the former Soviet Union had stable governments. It took a change in government to ignite greater prosperity that brought about the collectors in these nations. The number of nations worldwide that could see similar change has dwindled greatly in the past half century. In addition, the number of nations regarded as underdeveloped is in decline. These are both good for humanity, but do reduce the occurance of factors that propelled coin valuation increases I benefitted from the past half century.

     

    I can look at current production quantities of coins from nations worldwide and see coins of both large and small denominations that would seem perched to grow greatly in value simply because the quantity of particular coins is relatively small. This assures the supply will be small, but does not assure a demand. The demand seems to come with affluence within the nation in question.

     

    Germany over the past 60+ years presents a good example of all factors in play. Many of the values of East German coins of equal denomination of the West German coins in a given year of minting are incredible.

  4. I must say I am a bit skeptica of your claim. World coins tend to be quite common and the demand for general issues is not too great. Have you tried selling your packages from the 1960's or are you pricing them individually with Krause?

     

    I'm not a fan for coins as investments but as far as monetary appreciation I would recommend buying the best and most desirable pieces you can afford in an area about which you have some knowledge.

     

    I did sell some a few months ago on ebay. These were primarily European coins, most from Germany and Hungary. The buyer was from Switzerland. The bidding was robust and the coins did quite well nearly achieving the values listed Krause. The bidding could have been disappointing without the winner and one other European always bumping the high bid. The ending bid doubled in the waning minutes of the auctions.

     

    I've since visited ebay Germany, UK and Austria. They each have lots of coin auctions, and comparative European coins appear to do better on those ebay markets than the USA ebay. I haven't done a similar check of Asian or South American ebay sites.

     

    Possessing only the English language limits which ebay sites I can list with, but it does make sense for buyers to look beyond their own borders to find deals on coins from their own country.

  5. In the 1960's, while still a kid, I began mailing away for small packages of world coins. The packages cost between $1.00 and $2.95, and each package contained 25 or 30 coins. The coins were all mint condition, low denominations, and primarily from countries struggling with their economies or governments, or purely third world nations. Occasionally these packages of coins included uncirculated coins from the 1940's and 1950's.

     

    It has been nearly a half century now and all of those nearly worthless coins of the time have appreciated well in value. Some are now worth about 200 times or more what I paid for them if the average cost was ten cents.

     

    This has me thinking. I have a grandson 2 years old. If I buy fairly recently minted, uncirculated, low mintage coins now they could be of such value when he reaches college age that they could provide for a major portion of his college education.

     

    The major element of this premise seems to be picking coins from countries that will likely have both stable government and economies in the future.

     

    Anyone have of any thoughts on which world coins being produced today, or produced in the past 20 years, could possibly be the big performers of value in 15 years time? My interest is world coins as such coins have the potential of far outperforming coins from major industrial nations.

  6. In my experience with world coins & Krause valuations, I've found that Krause tends to value the coins very high. Sometimes they are spot on, but sometimes they overvalue by as much as ten times the true price. There are so many coins listed that it is not reasonable to expect they will get the prices right...I'm just happy if I can ID a coin and they didn't make any major errors.

    Ebay is good for checking prices, but you need to look at the actual purchase prices, not what they are offering to sell them for.

    Dave

     

    Thanks Dave. I do try to find completed ebay auctions for specific coins as the prices those garnered can be a good measure of the demand for a particular coin and the actual value. The best example I could find for this coin in a completed auction would likely grade in the AG to G range and was sold as part of a lot so that auction was of little help to me.

     

    I am leaning toward your opinion of Krause valuations. It may be that they are aware of some instances where people pay a higher price for certain graded coins and use that information to establish the high range for that particular coin. I'd be interested in learning the median price for specific coins at various grades, but that would be an impossible task as it would require the tracking of every single coin transaction worldwide to come to an honest conclusion.

     

    I'll continue using Krause, especially for identifying and cataloging coins, but look further for supporting evidence of actual values.

  7. -Krause Mishler is generally good as a guide.

    -Asking prices are just that. They can be very unreliable, and are typically above real market value. That's why no one's bought them yet (if the seller has lots of simular items, it's likely that s/he does deal in that type of coinage, but the market may be very thin, so selling a piece may take a very long time, or require a signigicant discount ie. 50%)

     

    -For German coinage, it has been my experience that AU55/58 is half of UNC, and AU-50 is 1/4 of UNC. Grading is also very strict (many a time in an auction there'll be something in a NGC or PCGS holder as UNC being sold as AU)

     

    Thanks ccq! Now you've got me wondering about another issue. Of NGC and PCGS, which is regarded the more reliable grading service?

  8. I have a coin that cost me about 8 cents that gives me pause where coin valuations are concerned. The coin is an East German 10 Pfennig 1950E. I rely heavily on Krause World Coin Catalogs to identify and value coins. On this particular coin the valuations are: VF 17.50 XF 70.00 Unc 650 There were 16,000,000 coins minted.

     

    I thought maybe there had been typographical error so went to ebay to see how the coin had performed in completed auctions and what current auction sellers were asking. From comparable coins offered I found a high price being asked of $800 for an AU55 2188941-004.jpghttp://cgi.ebay.com/Germany-1950-AU-55-10-...emZ220099255622 ,

     

    a lower priced XF40 2188941-008.jpghttp://cgi.ebay.com/Germany-1950-XF-40-10-...emZ220099255604 ,

     

    and a few others priced in between. From the images provided on these auction items I would say my coin is much the better.

     

    My coin scans

     

    10Pfennig-1950Eo.jpg10Pfennig-1950Er.jpg

     

    Now, I do realize I got quite the bargain with the purchase of this coin. It is but one of about 700 "junk" coins I recently purchased from a large retail dealer that dislikes world coins. So far I would place the value of these "junk" coins at around $3,000, which isn't too bad considering I paid under $50.00 including tax for the lot. But that valuation is entirely dependent upon the resources used to value my coins. Am I safe to continue my heavy reliance upon Krause mixed with current selling trends I find on the Internet? I had originally placed a value of $150.00 on my coin until I checked the listings on ebay and found the NGC graded coins. Further, would it be prudent of me to have my coin condition graded by the Numismatic Guaranty Corporation? How much faith should I place with grading provided by NGC? What could I expect to pay to have NGC grade my coin if I choose that course?

  9. The most likely candidate is a Moroccan falus ca. 19th century, the reverse of the piece is a bit off of centre.

     

    Thank you! :ninja: The coin came from a batch of "junk coins" from a local coin shop that cost me about 8 cents each. It was so encrusted it resembled a slug with barely a faint outline of the Star of David. I almost tossed it aside.

     

    I'm surprised how many north African and Middle Eastern coins had the Star of David during this period. I'm going to do some digging into pre-1800 coins. This followed the Spanish Inquisition when the Moors and Jews were driven from Spain starting in the late 15th century.

  10. Help Please! :ninja:

     

    Here are photos of the coin:

     

    hammeredo.jpghammeredr.jpg

     

    It is a rather stout coin measuring approximately 17 mm across, and the aproximate thinkness of a US quarter. It has similarities to early Ninteenth Century coins issued in Iraq, Libya and Morocco during the Ottoman Period of rule.

     

    Any help would be greatly appreciated.

×
×
  • Create New...