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To participate in the forum you must log in or register. | Author |
 Replies: 7 / Views: 2,428 |
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Pillar of the Community
Canada
1751 Posts |
After visiting the website of Alaska mint. I'm now wondering what are the technical differences between: round, medallion, and coin? Here's what I know so far: a coin is minted by a government mint and carries a denomination - ie quarter fifty cent, $1. A round is a bullion coin that is produced by a private mint and doesn't carry a denomination. I also don't get why coins usually cost more for the same weight increment, lets use 1 Oz. I've noticed 1 Oz of silver will typically cost more than when buying the same 1 Oz in a round or even a medallion. I'm not even thinking of the added numis value. I'm thinking of older coins where they're closer to bullion value. Each type seems to have a different premium, with medallions typically worthless than other 2 examples. If anyone would care to share their thoughts, much appreciated. This stems from my visit to the Alaska mint website, and seeing their prices for medallions are the same as RCM coins. Usually medallions are cheaper priced then coins! So this has me pondering the three varieties of 1 Oz silver pricing and the factors behind it. |
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Valued Member
Canada
242 Posts |
Its all in the mintage.....coins produce and quality
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Bedrock of the Community
Australia
21786 Posts |
The quality of the artwork in some silver rounds is of a very high standard. Nevertheless, their very existance depends on the silver content of them. It should always be bourne in mind that they are way to invest in silver.
The primary purpose of a medallion is to commemorate an event a person. They are usually made from bronze, silver or gold. They are not meant to be an investment vehicle, although some medallions are extremely rare and / or valuable, to an extent that could be way above their melt value.
Coins were originally intended to be a token of exchange, at a recognised and accepted face value. Specialized coins have been produced for all sorts of reasons. Mints in recent decades have seen a commerical opportunity to produce NCLT coins, which may or may not have anything to do with the coinage in circulation.
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pocket change 50:
It seems that your interests are primarily as a silver bullion investor. You may also wish to consider investing in silver bars, as well as bullion gold coins.
I have handled a 400 ounce gold bar, which was somewhat of an experience!
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I am strictly a coin collector.
The coin has to have been made for circulation, to be used as money. They have a face value which is backed by the legal authority that issued them, to enable them to be generally accepted at that value by those who use them. Hence my interest in numismatics generally, right back to the inception of coinage, around 600 BC. I do make the exception however, NOT to collect any coin with a date after about 1950, when precious metals were still used in the circulating coinage system of most nations.
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CCF Master Historian of USA Commemoratives
 United States
12261 Posts |
Quote:
I'm now wondering what are the technical differences between: round, medallion, and coin? I'll offer a few thoughts... Coin: A piece issued by a Government (or other official agency) that is intended to be used as a medium of exchange at a designated value (i.e., denomination). Medal: A piece issued by a Government, non-government organization or individual that does not have a monetary value. They are generally of a commemorative or thematic (topical) nature. Round: A piece that technically falls within the "Medal" category as it is an unofficial, privately-issued, non-monetary piece, but one that is often viewed as a different item due to the fact "rounds" are generally struck to serve as a convenient way to purchase precious metals (e.g., silver) in fractions or multiples of a troy ounce (rather than to serve as a collectible that commemorates a person/place/event). And just to be "complete"... Token: A piece issued by a non-government organization or individual that is meant to be used as a money substitute for goods or services (generally on a local level and for a limited time) or in specialty vending machines (e.g., games at amusement centers). Bullion Coin: A piece issued by a Government (or other official agency) that is intended to be traded based on the intrinsic value of its precious metal content regardless of the denomination that it officially carries. Coin-Medal: A piece issued by a Government (or other official agency) that carries a denomination but has no legal tender status. For example, the Philippines issued a number of commemorative "coins" in the 1960s and early 1970s that had a denomination of One Peso or One Piso, but they were demonetized prior to their release and sold by the Central Bank of the Philippines to collectors at a premium. They are collected as coins because they carry a denomination, but were never available to the public with a true monetary value. Some argue that Canada's 1976 Olympic coins fell into this category once the Canadian Government stopped accepting them for redemption at their face value. You can split hairs on the definitions I've provided and come up with exceptions to them, but I believe they are accurate for the vast majority of cases. Hope that helps! Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
 Canada
1751 Posts |
Great answers everyone! @ commens I never heard of coin-medal before. Very interesting. My primary focus is Pre 1967 & Nclt Candian coins, I've added silver bullion lately. It's if I like a design I collect it. I do have a few British coins, mainly Vickie's. I love Vickie's!! @ sel_691 I eventually would like to add some Aussie Vickie's Edwards & George's to my silver circulation collection. The overall plan is to have a sampling of all commonwealth silver coinage. It's something I will need to work up to. I've bought a few Nclt coins from Perth Mint, as I understand New Zealand mint is privately owned. What started me thinking about what the differences were & the corresponding pricing was a virtual visit to the Alaska mint. They have some beautiful medallions, with pricing of $89-$114 for 1silver Oz. this is the same price charged by the RCM or Perth Mint. I had always thought medallions were priced less than Nclt . Mainly because it's not backed by the government as in the form of a coin. This is where the confusion starts. It seems the more I learn the less I know!! Everyone that's responded I respect all immensely, as I've read many posts from each of you. Sel_691 it's nice to see you over here! Seems the Aussie forum tends to be very quiet. Sel last Sunday @ my first coin show I got to hold actual gold bars and a commem 2 oz gold queen elizabeth golden jubilee coin. I was drooling over the coin. gold really adds a certain pizazz to a coin. The bar was interesting but not like the coin. I'm very thankful to member pokermandude for allowing me to view his gold offerings at the Edmonton coin show. I also got an I incredible monster toned 1936 silver dollar. My son & I are still quibbling who gets to own it. It was my son that thought of doing a trade for the coin. try and bounce around the forum, so I learn more, and of course get to know more posters. I look forward to more discussion! |
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Moderator
Australia
16810 Posts |
As I understand it, the term "round" is relatively modern, invented by mail-order marketers who needed to find a substitute word for "coin" after some mail-order marketers lost fraud cases filed against them: they claimed to be selling "coins" when in fact the objects they were selling were non-legal-tender non-coins.
Some objects classifiable as "rounds" do carry denominations, albeit fictitious or non-legal-tender ones. The NORFED "Liberty Dollars" are an excellent example.
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
6768 Posts |
@Pocket change: To be more confused with the pricing ranges, and also to enjoy some other coins (and some of them very good), visit Royal Mint (UK) page and see it's issues. The price will be I think, more o less the same, but their usual standard is .925 Silver (till now I do not understand, why due to the .925 I decided not to by 2013 George and Dragon for ~$80...later bought their first 20for20, well its also good) Addded:just have seen your post on the other forum. If you want to see "real" (only imo) coins with NZ denomination, visit not NZ Nint, but NZ POST...there you mostly will not see all this puffy-fluffy colorized stuff. And if you'll like some, prior to buying (i have no issue to order from there), speak with the forum member from Germany. Edited by Silveroid
11/17/2014 07:58 am
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Pillar of the Community
Canada
1751 Posts |
@ Sap more interesting info! I just spent 45 mins reading up on norfed and liberty dollars a very interesting case in the states. How can Nothaus be convicted in nov.2011 and not sentenced yet? Also what's the FBI doing with 7 million in non legal tender coins? It's a very interesting topic, I will research further. It's amazing things one learns with the start of a simple question.
@ silveroid great tip, I probably won't pursue the Aussie silver circulation money until the new year. I've got to catch up on a few things around my home first and get this hip replacement out of the way! It cramps my style and slows me down terribly!!
I'm enjoy each post and learning lots.
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Replies: 7 / Views: 2,428 |
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Posted 11/16/2014 8:36 pm
