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Why Are Some Old Coins So Cheap?

 
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Author Previous TopicReplies: 13 / Views: 487Next Topic  
Valued Member
United States
277 Posts
 Posted 05/20/2020  4:48 pm Show Profile   Check John K's eBay Listings Bookmark this topic Add John K to your friends list Get a Link to this Message
I know it is all about supply and demand But it just seems like some beautiful old coins in great shape sell for very little. Lately I have been buying coins I never thought I would collect simply because they are old, in great shape, and I like the design.

Here is just one example. Show some of yers that go fer under $50





Pillar of the Community
Canada
3430 Posts
 Posted 05/20/2020  5:27 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
Cheap: relative to what? Perhaps only relative to US coins.

I see a mintage of 500,000 in Krause. European collectors might wonder why US coins cost so much.

I doubt that there are 500,000 Europeans interested in this item. That is a good thing, because I like it and have one, and mine was cheap too.

Look at the Canadian $1 1936: $60 in ms-60, with even lower mintage than the Hungarian.

Just be glad that the world has not discovered all these good coins.
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United States
722 Posts
 Posted 05/20/2020  6:05 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
Only those of us around the block long enough, so to speak, fully understand that "old" does not always translate into high dollar. Great pick up!
Bedrock of the Community
Australia
16971 Posts
 Posted 05/20/2020  7:11 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
The market is what the market is.
When considering to buy any coin (not just U.S.), I consider the price offered against what it's value is in the current market.

Nevertheless, I am very attracted to the idea that it is possible to get some very nice condition ancient coins for what seems to be a good price.
A good example is a 2,000 years old Widow's Mite, which has significant Biblical importance. They can be had from less than $10 in reasonable condition.
Edited by sel_69l
05/20/2020 7:19 pm
Pillar of the Community
United States
4651 Posts
 Posted 05/20/2020  10:21 pm  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
Based on the 2010 Krause it's worth $25 in UNC, and $28.50 in proof.
Describe it as if there were no picture.
Picture it as if there were no description.
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Canada
2386 Posts
 Posted 05/20/2020  10:40 pm  Show Profile   Check Wade's eBay Listings Bookmark this reply Add Wade to your friends list Get a Link to this Reply
don't buy in to "the market", buy what you like.

I'd rather have a $10 coin that I like over a $1000 coin that everyone likes.

if you're in it for the dollars, then you are NOT in it for the penny. or sheckle. or rupee. or the cent.

enjoy a coin for what it is. be it worth a penny, or a pound, or $10k USD, it's just a coin. and none of us are taking it with us at the end of the day
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United States
1223 Posts
 Posted 05/20/2020  11:32 pm  Show Profile   Bookmark this reply Add owatchman to your friends list Get a Link to this Reply

Quote:
if you're in it for the dollars, then you are NOT in it for the penny. or sheckle. or rupee. or the cent.

Perfectly said.
Valued Member
United States
277 Posts
 Posted 05/21/2020  10:45 am  Show Profile   Check John K's eBay Listings Bookmark this reply Add John K to your friends list Get a Link to this Reply
Here is one I thought I would never collect. But for $3 how could I resist? Since then I have added several other dates
of Austrian 1 Heller coins in similar condition at about the same price. Not many with the cool die clash though. I can probably assemble the whole series for less than what one USA Indian cent in similar condition would cost me (I like those too!)

Show us some o' yer beauties that arrrh old, nice shape, and inexpensive




Edited by John K
05/21/2020 10:46 am
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United States
3362 Posts
 Posted 05/21/2020  3:24 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
The Poland/Lithuania half groat from roughly 1546-1565 is a nice, inexpensive "old" series. Most dates can be gotten in VF to XF for under $30 (a number of the OFEY gang have these in their collections). This one is in a bit higher grade, but still came in just under $50:



The smaller billon solidus issued in the Baltic area (Livonia, Lithuania, Poland) from the late 1500s to mid-1600s are smaller coins that can often be found in very attractive condition for $10-20.
Edited by tdziemia
05/21/2020 3:30 pm
Pillar of the Community
Russian Federation
3077 Posts
 Posted 05/22/2020  04:20 am  Show Profile   Bookmark this reply Add january1may to your friends list Get a Link to this Reply

Quote:
Lately I have been buying coins I never thought I would collect simply because they are old, in great shape, and I like the design.
Haha, I'd totally do that, and this 5 pengo looks awesome!
...Though I still wouldn't pay $50 for one, because that much would have drained my entire coin budget for at least a month.

This slightly older Hungarian coin should qualify, though, even if it's a lot less rare (15 million mintage) and in a much lower grade...



In general, however, my budget considerations mean that I tend to drop the "great shape" qualifier. Old, neat, that's more than enough.

Granted, a lot of medieval coins are already in pretty decent shape for some reason... I paid $17 for the 1521 Salzburg pfennig below, back when I could still throw around that kind of money.



(It's uniface, so I never bothered to take a pic of the other side - it was just blank, with a faint inverse impression.)
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Australia
2461 Posts
 Posted 05/22/2020  07:31 am  Show Profile   Bookmark this reply Add triggersmob to your friends list Get a Link to this Reply

Quote:
Show some of yers that go fer under $50


I think that would be just about every coin in my collection. :)

Steve
View my Coins here, (NOW WITH OVER 14,000 IMAGES).... http://www.coincommunity.org/galler...hp?cat=10048
OFEC count = 237
Bedrock of the Community
United States
19315 Posts
 Posted 05/22/2020  08:16 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Why are some so cheap. Just no one wants them.
just carl
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United States
3362 Posts
 Posted 05/22/2020  08:29 am  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
Another "older" series where the coins are available in nice grade very inexpensively are the 5 an 10 pfennig German EMpire coins made from the 1880s until 1915. There is a great variety of mints, which I think gives it some added appeal. Many of these can be gotten for under $5 in EF despite being over 100 years old (think about that for Liberty nickels or Barber dimes). Whether they are beautiful is arguable (in particular the reverse is kind of plain).

Edited by tdziemia
05/22/2020 08:30 am
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New Zealand
745 Posts
 Posted 05/24/2020  2:48 pm  Show Profile   Bookmark this reply Add Princetane to your friends list Get a Link to this Reply
For me its Ottoman and Egyptian silver coins of the 19th century. They are old, exotic and exude a mystique that few of the overpriced gold and silver coins of the US and UK offer.




5 Qirsh Year 4 (1912) Mehmed V - Egyot - VF cost NZ $15




10 Qirsh year 30 Abdul Hamid (1904) - aVF cost also $15 - this coin is 90% silver and larger than a half.

My best bargain




Turkey 20 Kurus, 1862 (Year 2 Abdul Aziz) this coin is the size almost of a silver dollar and has a real Arabian nights mystique to it - It cost $30 NZD.
Loving Halfcrowns. British and Commonwealth coins 1750 - 1950 and anything Kiwi.
If it's round, shiny and silvery I will love it.
Edited by Princetane
05/24/2020 2:49 pm
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