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 Replies: 42 / Views: 5,026 |
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Valued Member
 Canada
270 Posts |
Well WADE, I understand that 45k is in no way rare....everyday Canadian mint commemerative pieces are limted to 50,000 sometimes...but you fail to add a suggestion as to WHY its so valuble? There are coins of the exact same year, same denomination, commemorative, same condition and even more prestigious portraits on them, yet they are priced at $75...what makes this coin stand out in value?
The suggestion that it holds religious merit is not so farfetched, as religion is held much more dearly in other countries....BUT...im not sure if a Pope john Paul or Benedict coin would cause an inflated value in North America...its a solid theory tho and its more than I knew before...I had no clue Martin Luther is the origin of the "Lutherans"....I definitely gained knowledge from this post!
The coin seems to be very valuble and desireable internationally, yet not popular and almost insulting to some North American collectors ive talked to...what is up with this coin?
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Valued Member
Canada
270 Posts |
Also I'm curious as to what coins you are referring to with 4,000 mint at $10....id love to purchase a few as that is an incredible deal in my mind. I'm always a fan of the rare and scarcely produced coins of the world and 4,000 would be a first for me...
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Bedrock of the Community
Australia
21788 Posts |
Perhaps you would be better off, selling back into the German Numismatic market.
As a general rule, U.S. coins do best in the U.S. market, British coins do best in the British market.
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Valued Member
Canada
270 Posts |
Well thats pretty much my issue, I'm not sure the best way to sell it. "Selling it back to Germany" is something I'm not sure how to go about doing...
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Valued Member
Belgium
83 Posts |
Wade, pricing of coins is linked to commercial market rules: demand and supply will play a role. The only way that a coin can get high prices is if there is more demand than supply. Demand is of course driven by the financial capabilities of the actual buyers. If you look to the most expensive coins listing, the top 8 of the coins are all American coins. This is not only linked to the rarity of the coins, but also to the fact that there is a big demand on US coins (inside and outside the US) and especially to the fact that there are wealthy Americans that can afford to pay several million dollars to buy these pieces. Back on topic for the 20 DM Martin Luther: this piece was minted in 1983 in the German democratic republic (better known as East Germany). This was before the Berlin wall was torn down in 1989 and therefore the living standard in East Germany was very poor and therefore not a lot of people could afford coin collecting. At that time, the population in the German Democratic Republic was a mere 16 million people. If you than take in consideration that there are approximately 80 million lutheranes world wide of which only 5 million people are located in the German Democratic Republic, you can safely assume that most of these coins were sold abroad. It is however also a known fact that when living standards increase, coin collecting becomes more popular and the coin collectors try to bring back their heritage to their own home country (at this moment this effect is playing strongly on Russian, Chinese and Indian coins). Knowing that the theme of this coin is religious, creates and additional demand outside the coin collecting business, increasing the prices again. And yes, I do know that there is also a limited 1933 emission of Martin Luther themed 5 reichsmark (total of 188000 pieces for 6 different mints). Although the mintages are lower than for the 20 mark coin, the pricing for this coin is lower. This can be explained simply by the fact that the coin was minted in the interbellum and that the coin actually carries "Deutsches Reich" (German Empire) as a country denominator. Up to today, Germans (and certainly also other people) are very cautious about everything which is linked to the world wars and to the interbellum and therefore don't really want to be associated with that. Therefore, there is a lower demand although the pieces are more rare compared to the 20 mark piece, resulting in a much lower pricing. |
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Valued Member
Canada
270 Posts |
Great info! I really would like to sell the coin to someone who is going to appreciate it enough to put it into their permanent/pass down collection...as I clearly do not. I am however becoming more and more intrigued in the coins history and this is making it harder to part with. I purchased the coin knowing only that it had SOME value, I had no idea it carried a religious figure, and the fact it came from the mint during times of conflict makes it that much more interesting.. the whole reason I'm selling it is so I can re-invest in more relatable Canadian/American coinage. I would much rather have a few full mint sets and commemoratives than this one German coin. I still have no clue as to how I could sell it abroad, and any guidance through the process would be appreciated!
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Valued Member
Canada
270 Posts |
Also if I could have a couple catalog prices that I can list on my ad/auction?
I cant find the krause price on it
I found the NGC cat and the standard guide
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Pillar of the Community
United States
992 Posts |
You'll be better off selling the coin yourself than trading it for what stock a dealer may have at the time, unless you really want to be stuck with modern minted proofs and such stuff that may or may not hold value the way the coin you possess has done.
The dealers and their stock of modern coins are going to be around, don't rush into anything. When a dealer tells you he wants to buy your coin, he probably already has a buyer and is counting his profit.
As far as modern North American coinage goes, I can't think of a single coin that is as good a piece as the German you now have until you get back into the Mint State Morgans and such, other than a few rarities. I would keep it and get your toes wet in North America a bit at a time, you can always sell it later.
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Valued Member
Canada
270 Posts |
Wise words... Im starting to understand the process I need to take and I think you're all are right in assuming a dealer sale wouldnt be ideal. You are also correct in the fact the prospective dealer already has a German buyer in mind, and that is partially the reason I have the time to review this sale in full. I am expecting a call on Tuesday with a price, and I've already made it clear I wouldn't accept less than $500CDN. I guess if he is willing to pay that much than I would be happy enough to sell. If his price doesn't reach the $500 mark, I will most likely put it on auction. Again, my reservations with selling it myself auction-style is that I am completely inexpirienced with ebay, and currently base all my purchases & sales locally. I would love to open the door to buying/selling online as this would greatly increase my availability of rare coinage. Keep in mind I found this GDR(and all my coin) locally, on a classified ad. I then made a barter with the previous owner and ended up aquiring it. If I can manage to dig up great finds like this locally, then the oportunities with an international market are huge for me. Currently I have an auction on ebay for 2, 100 mark GDR notes, and I'm using this auction as a sort of "test-run". If I can manage to go through with this smaller sale without too many obsticles, then id feel a lot better about the $500+ sale on my Martin Luther...wish me luck guys! Also, please keep comments/suggestions comming! I am really in over my head with the whole international selling, and some pointers or advice would be greatly appreciated!! |
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Pillar of the Community
United States
992 Posts |
Luc, if you get $500 for your coin, that sounds like a fair price to me. Don't let me influence you there, however, it's your coin to sell or not. I certainly wouldn't sit and wait for another $50 or $100, once your floor is reached. For ebay, I've sold a lot of stamps, banknotes, etc., there, and have certainly bought my share of them as well. For sellers, ALWAYS hold the item until funds clear, no exceptions. PayPal makes this a very short time period, personal checks take TWO WEEKS to ONE MONTH to finally clear. A deposit will be noted in your bank balance the day you hand over the endorsed check, but it still has to clear the 'clearing bank', and then it has to clear the issuing bank, who may find a closed account, bad signature, things of that nature, that come about during the time between the clearing bank and the issuing bank. AWAYS ship items with delivery notification or signature required. DO check the feedback rating of the buyer. For a newbie, DO NOT ship outside of the USA without using REGISTERED MAIL, it's expensive but the buyer is paying for it. DO NOT ship anything to the Third World, it's gone forever and your payment will disappear as well once they claim non-receipt of goods. |
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Valued Member
Canada
270 Posts |
Id imagine it will sell to someone in Germany and most definitely will be a paypal transaction. Ive heard of a tonne of paypal scams tho...I sell cell phones and electronics as a means of side-income, and regularly get texts from Africa, with obvious scams. They all offer to pay through paypal so my question is how do I know what paypal accounts are legit? And what would the equivalent of registered mail be in Canada? Would that be the same as a basic shipping insurance plan? I would want to send it by Canadapost air, 1-3 business days... would that be a decent plan? I recall buying a few things off ebay and it taking months for delivery...the last thing I want to do is have a customer wait longer than needed... Am I able to set a starting bid lower than my reserve? Or do they consider it the same? If a sale is reached...do I wait until the funds are credited to my paypal or to my bank? If I cannot speak the language of the buyer, how do I contact them should problems arise? Just a few questions off of my mile-long list. Any help is appreciated! |
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Pillar of the Community
United States
992 Posts |
The Feedback rating of the buyer will tell you a lot. You can restrict bidding to buyers with good feedback. You can set an opening bid below a reserve, if you want.
When sale is done, you withdraw the funds from PayPal account and put them in your own bank. For a large dollar amount, hold shipping the item until you have cleared funds.
The time it takes for something to arrive in the post is the time it takes, buyers know this and accept it.
Germany is not a Third World country, should be no issue there.
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Valued Member
Canada
270 Posts |
I was never given the option of a reserve when making the ad...will they just ask me at the end if the highest bid has met my reserve? Or did I just miss it somewhere?
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Pillar of the Community
United States
992 Posts |
You missed it. Try again.
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Valued Member
Canada
270 Posts |
Ive come to find out that the reason my reserve wasn't made available to me is because I used the quick post tool app, bad idea. Apparently it lacks the advanced options I was hoping for. Auction is now closed, sucessful sale on 2 GDR 100 mark notes. I'm now going to set up the Martin Luther mark coin, as there is a similar one at auction now causing quite the war. Mine is in MUCH better condition and I expect bids to reflect that. Hoping for a good bidding war. Ill post the results after the auction closes. Please leave any pointers or advice as the auction will be starting immediately. Ive been guided through history, grading, and valuation of this GDR 20 mark, and now take a front now seat at the auction!! ebay UncleLuc403....thanks CCF for the guidance!! It is always appreciated!! |
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Posted 01/01/2015 5:31 pm
