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 Replies: 18 / Views: 3,100 |
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Pillar of the Community
United States
979 Posts |
So I was thinking today about commemoratives. I really know very little about commemoratives, but sometime I lurk the boards to learn. I know they are made for collectors like proof coins and are definitely NIFC. Sort of like bullion coins, but with bonus premium it seems? Either way, they seem similar. Yes, this connects to CRH It's funny that they still put $1 on stuff like buffalo commemoratives, and $1 on ASE, $20 gold eagles, etc etc. I can't imagine them being circulated much.  Guess it's for legitimacy? So they don't feel like tokens? But could image finding a commemorative or bullion coin in a tellers tray? Or a roll?  After all, someone ignorant somewhere is gonna inherit one someday and think its worth face! I can just see someone turning in ASE and getting a buck for their dads coin. Would be sad, but not to be on the finding end!  Hoping someone has a one in a million story of this happening! If so, I'm waiting  Edited by Broseph
09/20/2012 4:16 pm
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Pillar of the Community
United States
619 Posts |
I've read a couple stories on here about people spending them at the gas station for a pack of smokes...  Edited by CPC24
09/20/2012 4:29 pm
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Moderator
 United States
187544 Posts |
Yes, they can circulate. People get them (inheritance or theft) who have no idea what they are worth, beyond what is written on the coin.
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Pillar of the Community
United States
2661 Posts |
Quote:I can just see someone turning in ASE and getting a buck for their dads coin. Would be sad, but not to be on the finding end! You got that right. I was on the finding end of an ASE earlier in the year. It was a little beat up, but the wife traded it for a real nice one at a show this summer for a date she did not have. |
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Valued Member
United States
150 Posts |
Columbian Exposition halves have been found in circulation...Not by me, though :(.
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Valued Member
United States
344 Posts |
I read some posts somewhere - here or another forum - about a guy moving to Australia and having to declare his gold/silver hoard. I seem to remember the face value was important for some reason - either taxes or the amount he could bring into the country. So there may be some obscure legal reasons as to having a face value on the coins.
Anybody know more on this?
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Pillar of the Community
 United States
979 Posts |
Wow, glad to hear this is more than a theory in my head XD
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Pillar of the Community
United States
4333 Posts |
They pop up all the time. I've seen hunters post dozens of Stone Mountain, Colombian, clad commems, etc, on another forum I've frequented for five years. Personally, I've never found one.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
979 Posts |
I sure wouldn't mind that happening to me :D
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Valued Member
Canada
409 Posts |
I wish I could even find proofs which I see somewhat regularly on these threads. At least in the states they usually have an S. In Canada they don't really have anything aside for a few years with a W. But I'm new to this so I'd love to hear some Canadians share some stories on finding proofs or commemorative coins.
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Pillar of the Community
United States
2734 Posts |
My lucky 1989 ASE:  I bought this for $1 in 1993 from a 7-11 cashier's drawer. I have also received over a dozen impaired "S" Proof State Quarters in my change (all of which are CU-NI clad). |
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Pillar of the Community
United States
979 Posts |
How did you spot it in the drawer? I lean over and look as much as I can without being too conspicuous. That's the kind of thing I'm hoping for!
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Moderator
Australia
16806 Posts |
Bullion coins and NCLT commemorative coins have a "face value" on them because without a face value, they're not really coins - they're just medals. Most coin collectors don't want to buy "medals" - but they'll buy "coins", even at heavily inflated prices. Yes, you can find some bullion "coins" from other countries that don't have a fixed face value, such as krugerrands and Mexican onzas. But they are exceptions to the rule. There are also other coins, particularly older ones such as British sovereigns and Dutch ducats, that don;t specifically state a face value on them but are nevertheless legislated as having specific face values. Quote:
I read some posts somewhere - here or another forum - about a guy moving to Australia and having to declare his gold/silver hoard. I seem to remember the face value was important for some reason - either taxes or the amount he could bring into the country. Cash or cash-equivalents (travellers cheques etc) over AU$10,000 do not incur import taxes but do have to be declared. But goods valued at over $1000 have to have import duties paid on them on arrival in Australia. In 1999 the same tax reforms that introduced the GST declared bullion to be tax-free, provided it was "bullion grade" (minimum of .999 fine for silver, .995 fine for gold and .990 fine for platinum) and in "bullion form": coins, ingots or similar, rather than as raw metal. But "collectable coins" aren't considered bullion; imports valued at over AU$1000 have to have import duties applied to them. In theory, you could argue that the coins were "just cash" and therefore only worth face value and not requiring payment of import taxes. But you'd still have to declare them, and you'd have to hope the Customs people handling your stuff will be too stupid to realise you're trying to pull a fast one. Someone importing bulk .900 fine silver coinage from the US might get away with the "but it's only money" argument; someone importing gold double-eagles probably would not. 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
Australia
7096 Posts |
Quote:
Bullion coins and NCLT commemorative coins have a "face value" on them because without a face value, they're not really coins - they're just medals. Most coin collectors don't want to buy "medals" - but they'll buy "coins", even at heavily inflated prices.
I used 3 Aussie $5 coins ( Bronze olympic coins ) to pay for some beer the other day. My general store is also my post office and the owner is a fellow collector, The upshot is instead of getting a 6 pack I walked out with a block of beer for $15 face value  I had just received a full set of these Olympic $5 coins and the ones I gave him were spare ( and I offered to give him them for nothing anyway) Old mate refused to accept them as a gift and insisted I take my beer......Ya gotta just love that  2 winners in the one day and everyone ends up happy The moral of the story is .... If you want to spend your NCLT coins at face, be very choosy where ya spend em |
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Pillar of the Community
United States
593 Posts |
Commemortives do show up A few months ago I found a 1982 George Washington 90% half dollar in a teller tray, this week 1 of my $500 half dollar boxes gave me a 1989 D Bicentennial of the Congress clad halves only 163,000 minted
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Pillar of the Community
United States
2734 Posts |
Quote:
How did you spot it in the drawer? I'm over 6ft. tall. The ASE was by itself in the drawer's fifth coin space (which were commonly used for Halves before they faded from circulation, and now cashiers will put Dollar coins there). Best part was that the (I'm guessing he was Ethiopian or Somalian) cashier seemed genuinely pleased to get my $1 note in trade for it.  |
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Replies: 18 / Views: 3,100 |
Posted 09/20/2012 4:31 pm
