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 Replies: 17 / Views: 4,081 |
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Pillar of the Community
Russian Federation
5174 Posts |
And for a second I thought you were talking about the Shire Post Mint version (they made a lot of plausible-looking "coins" from various fictional places - Middle Earth included).
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Valued Member
 New Zealand
72 Posts |
these are legal tender coins, each has a legal value of $1 and issued by the Australian mint on behalf of the Reserve Bank of New Zealand.
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Pillar of the Community
United States
937 Posts |
Quote:
these are legal tender coins, each has a legal value of $1 and issued by the Australian mint on behalf of the Reserve Bank of New Zealand. Legal tender? Are merchants required to take them at face value and the banks obligated to accept them? |
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Valued Member
New Zealand
72 Posts |
if you wanted to pull them out of their folder and spend them then yeah, shops and banks have to accept them, which would be insane as they cost on average $25 each!
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Pillar of the Community
United States
1215 Posts |
Hmm... I would have valued them less than $25 each, and so would many here on CCF. But if you like them, by all means, its a great deal! :) Coin collecting is about buying what you like.
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Pillar of the Community
United States
1109 Posts |
I think they'd be a fun set to collect, especially for Tolkien fans.
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Pillar of the Community
New Zealand
526 Posts |
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Valued Member
New Zealand
72 Posts |
the single coin sold for $29.95 and their value seems to maintain then go up quite a bit. The Lord of the Rings coins are selling for huge money here now, wish I had bought some back then! That's one of the reasons I am trying to get them all now but the sings are $29 and the doubles at $55 its going to take a while! The silver and gold Hobbit coins are out of my price range, though I am tempted by the silver dollar with actual wood from the set in the coin, that's a nice one!
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Pillar of the Community
New Zealand
526 Posts |
Quote:
The Lord of the Rings coins are selling for huge money here now, wish I had bought some back then! That's one of the reasons I am trying to get them all now but the sings are $29 and the doubles at $55 its going to take a while!
I'm not sure how its working with LOTR coins, but I managed to sell a number of LOTR stamps at high mark up. That profit opportunity seems to have fizzled out now. |
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Pillar of the Community
New Zealand
526 Posts |
Am I missing something?
A NZ Hobbit gold coin of 1 troy ounce is US$2885 (NZ$3695)
The price of gold is currently around US$1194 per troy ounce.
Thats a huge difference.
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Bedrock of the Community
United States
20753 Posts |
I can imagine the reaction of trying to spend those in the USA. Most here don't know what a US Half Dollar is so those could make you end up in jail.  |
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Valued Member
New Zealand
72 Posts |
Am I missing something?
A NZ Hobbit gold coin of 1 troy ounce is US$2885 (NZ$3695)
The price of gold is currently around US$1194 per troy ounce.
Thats a huge difference. (sorry I don't know how to quote)
They are of limited mintage and I guess they know the popularity will ensure they sell. Also I think that Warner Brothers will want a huge chunk of the profits too, the coins folders have all the "copyright Warner Brothers" all over them!
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Pillar of the Community
New Zealand
526 Posts |
Hi Magpie
Re 'quotes'. You use the 12th check box on the long menu bar above the reply box. (It looks like a page with a red arrow'. Click and you will get (quote_quote) in square brackets. Copy the quote you require and place between the 'quote_quote'.
Hope that helps.
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Moderator
 Australia
16834 Posts |
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Legal tender? Are merchants required to take them at face value and the banks obligated to accept them?
if you wanted to pull them out of their folder and spend them then yeah, shops and banks have to accept them, which would be insane as they cost on average $25 each!Not quite. As is the case in most other countries, "legal tender" in New Zealand does not mean people are legally required to accept them as money in trade. "Legal tender" is invoked only in the case of attempting to pay a debt. If you go into a shop to try to buy something, no debt has yet occurred; the shop is legally allowed to say "sorry, we don't take banknotes higher than $20" or "sorry, we don't take Middle Earth coins", if they choose to do so. I assume the banking situation in NZ is similar to here in Australia: banks are required to have a procedure and policy in place to accept all legal tender money. However, their policy may allow them to delay crediting your account. If (for example) you deposit an easily-counterfeited high-face-value coin, you might have to wait until they ship your coin off to the Reserve Bank and the Reserve Bank verifies its authenticity before your bank then releases the money to your account. And, as stated above, it's a lot of rigmarole for everyone to go through, all so that you can make a huge loss "selling" your $25 NCLT coin to the bank for $1. So I don't think the banks are likely to see many of them. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Canada
1751 Posts |
I will have to look for these. My son and I are both lord of the rings fans. We've enjoyed the movies immensely!!
The scenery is phenomenal. I look toward to some pics in this thread, even if you don't own the coins.
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Replies: 17 / Views: 4,081 |
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First Page
Posted 11/25/2014 3:59 pm
