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 Replies: 26 / Views: 2,875 |
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Pillar of the Community
Australia
1610 Posts |
324245959741I've seen this sort of thing before and it gets my hackles up everytime.  I'm sure it's just my lonely view but an ingot of gold is not a coin. Suddenly you squash it flat into a irregular shape at the mint and put a nominal face value on it well below it's worth in bullion and presto, it's a coin. Really?. IMHO why can't a coin be a goverment issue item that is (was) accepted as legal circulating tender. The above bit of tat is, to me, just irregular shaped bullion. Maybe I'm just  Edited by David Graham
09/01/2020 9:38 pm
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Rest in Peace
United States
2668 Posts |
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Pillar of the Community
4628 Posts |
NCLT Rubbish, I avoid this for the main reasons below.
Rant begins and I am not shooting the messenger, just my halfcrown's worth.
1. It is always overpriced to heaven, even if its precious metal like Gold or Platinum, expect the issue price to be over 50% above metal value and often 2 or 3 times.
2. They usually have no resale market and they end up being worth their metal content only.
3. They have no practical use beyond being an expensive gee gaw/conversation piece, they do not really fulfil the role of money. yes I know we can spend hundreds and thousands on coins that may only have a few dollars worth of silver in them, but they are at least real money, historic and interesting - this type of thing not so much so.
4. They are just ugly.
Rant over.
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Bedrock of the Community
 United States
12477 Posts |
I'd like it better if it wasn't colorized, but I pretty much agree with the above sentiments.
In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
Australia
1333 Posts |
Agreed but these aren't made for the collector market I think more for the consumer/stacking (wealth client) who almost don't really care about it that's why, I love hunting NTLC in circulation nothing like find one. Plus I think most of us collector know that these are almost worthless metal piles even if they are silver or gold (only worth intrinstic value maybe less if you can't find anyone to off load)
Edited by ryurazu
09/02/2020 04:19 am
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Pillar of the Community
Australia
1333 Posts |
Lol maybe? -_- it must be one of these get rich quick schemes?
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Bedrock of the Community
United States
12477 Posts |
I wanna see a roll of those.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Moderator
 United States
56855 Posts |
 U.S. mint issues a series of "silver puzzle pieces" of the United States Of America When you have all the pieces you have a cool puzzle. Even offer an auto ship once a month. John1  |
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Pillar of the Community
 Australia
1610 Posts |
Quote:
U.S. mint issues a series of "silver puzzle pieces" of the United States Of America When you have all the pieces you have a cool puzzle. Even offer an auto ship once a month.
John1
I don't even mind that. If people want to pay 2-3x melt value for tarted up bullion they have my blessing, just don't call the darn things coins!  |
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Pillar of the Community
Australia
1610 Posts |
Also, pardon my ignorance but what does NTLC stand for? Google doesn't want to throw up an answer. The only things I can think of aren't drawing fashion at all.
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Pillar of the Community
Canada
5239 Posts |
Yes, silly though it may be, it IS a coin because it meets the definition. That will only change if you can convince the world that the definition is changed.
Edited by oriole
09/02/2020 05:38 am
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Pillar of the Community
Australia
1610 Posts |
@Oriole - just what is the definition and who has decided that this definition is the global standard?
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Pillar of the Community
United States
6525 Posts |
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Pillar of the Community
United States
4618 Posts |
spruett001 said... Quote:
I wanna see a roll of those. I wonder if you did find a roll if the end coin would have a line of damage that follows the coastline all the way around, just inside the rim, from the crimping jaws on the wrapping machine. ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!! 
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Bedrock of the Community
United States
20753 Posts |
If it doesn't fit into a gum ball machine, can you really say it's a coin?   |
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Pillar of the Community
Canada
5239 Posts |
One definition: https://www.merriam-webster.com/dictionary/coinThe mint is calling it a coin, as I assume that this improves sales. Also, everyone expects the mint to make coins! Like any word definition, it is defined by general usage. There is no authority or global standard. Definitions change if enough people use them. So if you think that coin is a poor word, use something else and it may eventually catch on. I would support you. NCLT is a much better word. However, I am not sure that it makes a whole lot of difference for the real collector. Nobody is required to collect according to what the mint says or what a definition is. |
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Replies: 26 / Views: 2,875 |
Posted 09/02/2020 01:20 am
