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 Replies: 7 / Views: 2,361 |
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New Member
Italy
26 Posts |
Hi there, I have two Italian 1 lira coins from 1926. There were only 500 minted. A few weeks ago a fellow collector took an interest in them, but then brushed off the idea of buying it, stating that it wasn't legal tender, since it had been minted specifically for collectors. This doesn't seem to be the case from my understanding, even though it was minted for collector, it was still legal tender, if a collector would have wanted to use it as such. Many mints produce coins and dispatch them directly to collector lists while still remaining legal tender. In his statement, he appeared to be saying that this was not a real coin for him. The only thing I can fathom is that he, like me actually, does not like to buy mint sets, or coins sold by the mints for collectors. In some way, he does not feel it is a real coin since it never entered circulation or even was intended for circulation. A kind of vanity coin collecting, when a coin is released directly to collectors without any intention of its public use. Would it be fair to say that he felt this is not a real coin? â€" in his definition. Does anyone have an opinion on this matter?   |
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Moderator
 Australia
16808 Posts |
I can't imagine the mint of Fascist Italy issuing coins without government approval, so on that basis it was legal tender, legally no different to any other circulation coins of this type except for the date. And it is statistically likely that during the chaos of WWII, many such coins actually did enter circulation, through accident, the ignorance of thieves and looters, or desperation on the part of the owner. So technically, your customer is incorrect.
However, he is perfectly entitled to the view that NCLT coins such as this, made specially for collectors, "aren't real coins". If they wish to only collect coins that were intended for and issued for circulation, that's their choice - and a choice I personally tend to agree with, in the sense that if I'm going to spend $500 or more on a coin, I'm going to prefer it to be an actual coin that people actually used as money, rather than an artificially "rare" product created by a mint just for sale to collectors.
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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New Member
 Italy
26 Posts |
Hi Sap, I agree that everyone has a right to consider coins however they wish and I tend to agree with your last sentence, except that I make an exception on pre-1945 currency. Anything after 1945 I simply don't touch. I inherited both from my father and even though I'm not to keen on them, or his collecting focus, I make an exception since in the end they are rare and I think too, that a portion of them may have made their way to circulation. My only gripe was the way he discredited them, as if they are a sub-species of coins. |
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Pillar of the Community
Australia
9371 Posts |
Quote:
However, he is perfectly entitled to the view that NCLT coins such as this, made specially for collectors, "aren't real coins". If they wish to only collect coins that were intended for and issued for circulation, that's their choice - and a choice I personally tend to agree with  I also try to avoid NCLT, as I don't consider them as real coins either. Steve  |
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New Member
United States
45 Posts |
Except in Italy many dealers consider these Prova issues
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Pillar of the Community
 United States
1949 Posts |
Regardless of how you consider them, these are quite beautiful issues- Thanks for posting!
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Valued Member
United States
232 Posts |
I am with the others - you can collect what you want, and personally I like the coins intended for circulation better. Are these real? Well, I don't think they are a hologram. They look great and they are a genuine product of the mint. To me they are real regardless of my collecting preferences.
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New Member
United States
45 Posts |
It is absolutely legal tender. The king of Italy was a coin collector and minted these pieces for his collector friends. they are listed in all the Italian catalogs and are the same as regular issue. If you still have I'm interested in buying
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Replies: 7 / Views: 2,361 |
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Posted 08/08/2014 5:14 pm
