Your Thoughts On This

I dont know if it is a scam, I think its more just an uneducated seller. The coin is rarer than a 1930 Penny, but it was never issued for circulation. Also, rarity isn't the sole test of a coins value. Values are determined by supply and demand - a 1909 s VDB Lincoln Cent for example has a mintage of 400,000 and retails for about $1000 in average condition. It attracts that amount because the supply of these coins is far exceed by the demand for them.

Added to that, its just another in a long line of collectors coins which are constantly being churned out by the mint. In any case, $50,000 is way too much for this coin.

http://www.ebay.com/itm/23072060056...fvi=1&_rdc=1
2012 Maccas puts one of these at $400 value.
Can you read the date on the 5¢ photo?

Seller is a dealer with a shop in Darwin who sells many proof and UNC coins from broken mint sets on ebay. Usually his prices are reasonable. Maybe he knows something we don't.

Jeff

i spent a long time going back and forth with this guy over the 50c coin from the same set - I pointed out that the gold sets from 2006 and 2007 only had a mintage of 300. I pointed out that it would be more fair to say "among the lowest" minted to no avail...

There was some discussion on the NCLT forum about a similar stunt this seller pulled on the 50c coin.

The seller has conceded that he will never sell the coin. What he is actually doing is a publicity stunt to start people talking about the coin set and raise its profile (and its value too he is hoping).

I guess he has succeeded.

Reply from seller;
"Dear solution2852,

I have tried to purchase these sets for $1500 know any one who has got one
that would like to sell it. Who says I am trying to sell the coin, I am
really trying to advertise the fact that the coins exist, most collectors
have never heard of this set. The price I have advertised the coin for was
to ensure that I would not sell the coin or what the coin should be worth
in say 10 years time. Think about it 400 1c, 2c, & 50c coins 120 in total,
there are 3 times more 1930 pennys in existance that there are these coins.
What I am really trying to do is drive the price up and advertise the fact
that the coins exist. I have collected coins for 40 years now and have a
1930 penny and 3 of these sets and in that I have neve sold a single coin.
I really don't think I am about to start now. The price stated was to
ensure that they would not be sold, but I believe they will be worth that
in say 10 years time once they become known.

-sjwuble"

No Comment from me. But I am uncertain what he is really trying to achieve.
"I have never sold a single coin.
I really don't think I am about to start now." So why bother listing on ebay?

Jeff

This bloke cant be all there. I've never heard of anything more stupid than raising awareness for something on ebay. Trout's comment regarding this not being a rare coin is spot on. I don't see it as much more than a novelty made by the mint as bait for naive people.

ebay won't allow promotional ads where no product is offered for sale. Since he would sell at that ridiculous figure, his listing meets their rules.

This has been going on for a century or more, when B Max Mehl offered $50 each for 1913 V nickels, knowing he had the entire production. Offering two week's pay for a nickel got people talking about coins, and getting his buy catalogs.