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Why some rare US coins cost nothing in Russia?


denisselyger
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Hi, I am Denis. I am the owner of the pawn-shops from Russia, collector of rare things from all over the world. Because of the crisis a lot of people bring tons of different old and rare things to the pawn-shops to improve their economic conditions. Rare coins gold and silver especially from the USA take special place. They are in the category of things that is easy to buy very cheap but too hard to sell because they have no historical and numismatic value here. I sell rare gold and silver coins as pieces of gold or silver, sometimes we even melt them.

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Hi, I am Denis. I am the owner of the pawn-shops from Russia, collector of rare things from all over the world. Because of the crisis a lot of people bring tons of different old and rare things to the pawn-shops to improve their economic conditions. Rare coins gold and silver especially from the USA take special place. They are in the category of things that is easy to buy very cheap but too hard to sell because they have no historical and numismatic value here. I sell rare gold and silver coins as pieces of gold or silver, sometimes we even melt them.

Welcome to CoinPeople, Denis! :ninja:

 

I'm very surprised that there would be so many people selling rare coins from the USA in Russia today. If one considers that collectors in pre-Soviet Russia had to be somewhat wealthy in order to pursue their hobby, and that most of these would have tried to get themselves and/or their fortunes out of Russia at the onset of the revolution, the remaining ones would have had to keep all of these coins a secret for so many years ... My dentist is from Australia and he says his father told him that there were many Russian immigrants to Australia during that time, and most of them kept their gold with them in form of $20 (double eagle) American coins. So it isn't surprising that there were lots of these coins around in Russia back then, but today?

 

As far as prices go, it is merely the law of supply and demand. If Russian export restrictions apply to foreign coins struck before 1945 as they do to older Russian coins, then it is quite simply the reverse phenomena of what we are seeing in the western countries regarding the Russian coin market. They can't legally export them to the west, and nobody in Russia wants to buy them. It's quite simple, really.

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