Peter Paul Posted February 23, 2007 Report Share Posted February 23, 2007 Hi to you all! Does anyone have more info on the following coin: Mozambique 1 centimo 1975 KM#90 Mintage 15,050,000 Prices according to Krause(2006) 60 dollars in XF and 120 dollars in UNC. The reason I want some more info is because the fact that this coin is heavily prized for a coin with a mintagenumber like that. Furthermore I know two different dealers who sell this coin and still have more pieces in stock of this particular coin. I bought one today for only 3 euro's (that includes shipment from Germany to the Netherlands). Is this coin really that scarce or is this just another example of overpricing in Krause? Or has someone found it a lucrative business to copy this coin in big numbers? I am curious to know your recations. Peter Paul Link to comment Share on other sites More sharing options...
josemartins Posted February 23, 2007 Report Share Posted February 23, 2007 Almost all of the Mozambique 1975 coins (Metica series) have appeared in some quantity on the numismatic market (except the 2.5 Meticas, so far) and the reason is simple, these coins were struck by the Heaton (Birmingham) mint in 1975 but the order was cancelled and subsquently most of the coins were melted but still some quantity of them was kept by the mint. Later, in 2003 when the mint was sold (due to some financial trouble i think), the coin stocks that were still hold by them were sold to private hands (mostly "coin dealers") and now we have a lot of "former rarities". Jose Link to comment Share on other sites More sharing options...
Peter Paul Posted February 24, 2007 Author Report Share Posted February 24, 2007 I knew there had to be a sound explanation for this. Thanks for your info! Peter Paul Almost all of the Mozambique 1975 coins (Metica series) have appeared in some quantity on the numismatic market (except the 2.5 Meticas, so far) and the reason is simple, these coins were struck by the Heaton (Birmingham) mint in 1975 but the order was cancelled and subsquently most of the coins were melted but still some quantity of them was kept by the mint. Later, in 2003 when the mint was sold (due to some financial trouble i think), the coin stocks that were still hold by them were sold to private hands (mostly "coin dealers") and now we have a lot of "former rarities". Jose Link to comment Share on other sites More sharing options...
tabbs Posted February 24, 2007 Report Share Posted February 24, 2007 Later, in 2003 when the mint was sold (due to some financial trouble i think), the coin stocks that were still hold by them were sold to private hands (mostly "coin dealers") and now we have a lot of "former rarities". Interesting story. Maybe the Schön is wrong in that regard then; it lists those coins as made by the Royal Mint. According to that catalog, the coins were made for a currency reform that was then postponed (1975 -> 1980), and most of them were melted in the Hettstedt (then GDR - now ST, DE) Walzwerk ... Christian Link to comment Share on other sites More sharing options...
josemartins Posted February 24, 2007 Report Share Posted February 24, 2007 Interesting story. Maybe the Schön is wrong in that regard then; it lists those coins as made by the Royal Mint. According to that catalog, the coins were made for a currency reform that was then postponed (1975 -> 1980), and most of them were melted in the Hettstedt (then GDR - now ST, DE) Walzwerk ... Christian ...Schön is also right, the Heaton mint often worked as a "subcontractor" for the Royal Mint. Jose Link to comment Share on other sites More sharing options...
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