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 Replies: 11 / Views: 1,396 |
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Valued Member
United States
284 Posts |
I'm not sure if this is in the right category or not but I'll try my question here.
I see there are a lot of auctions and the like of world coin lots. A typical title is, "2 pounds of world coins - unsearched". There is usually a photograph of the coins all spread out or something like that.
Has anyone bought any of these grab bags? Is there anything interesting in there or would it be just a bag of nothing?
-- Boris
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Pillar of the Community
United States
2049 Posts |
I've never bought one but you can be pretty sure it's nothing but common coins that they would have to do alot of effort to sell individually. I was just at a coin shop here that sells 1/2 pound bags for $3.95 and there is nothing of value in them.
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Pillar of the Community
Canada
965 Posts |
They can be very interesting, but don't expect to find anything valuable in them. I've tried a few sources, but never paid more than $5/lb, knowing that I won't get anything of value. I did manage to find one dealer who sold bulk lots from the Bundesbank bags. (I could tell by the lack of German coins). Those actually had a few silver, and a few from the 1800s in them. They also cost a little more.
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Valued Member
United States
419 Posts |
 If you are looking for some random world coins to add some mass to your collection or a good start to interest kids. This isn't a bad way to start. Otherwise stray away from the "unsearched" scams. |
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Valued Member
United States
311 Posts |
I'm a lot more willing to believe that world coins are unsearched, compared to US cents or silver. Anybody can memorize a short list of key dates for those. Memorizing keys for all the different types of world coins would be a challenge!
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Valued Member
United States
417 Posts |
This might be off-topic, but the Orlando-Orange County Expressway Authority auctioned off 1,200lbs of coins [one whole lot], that were rejects from the toll machines, back on December 29th. I wanted to put in a bid, but didn't do so in the time allowed. Would be interesting to find what was in there.
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Rest in Peace
United States
1729 Posts |
I've been keeping my little fingers busy going through world coin lots recently. One was an 18-pound lot which I bought from an ebay dealer, the other a 15-pounder from my local dealer's world coin junk box @ $6.50 per pound. I found one silver coin (25-centavo, Venezuela) from the online lot, plus a fair number of pre-1900 coins and a few key coins, and so far I've found a few aluminum coins (one from Monaco, 1943) that are worth a few bucks from the local dealer's lot. It's obvious that a few collectors before me have picked through the lots, looking for silver and possibly key dates - the Venezuelan coin was rather tarnished and looked more like nickel than silver. But the point is that I'm having fun assembling type sets for many countries, and when I'm done with the culls I can sell them back for a $5.00/lb credit. Try spending an evening at the movies and adding a meal, plus gasoline - I don't think you can do that nearly as cheaply as what I'm doing with these coins. If you buy a bulk lot expecting to find gold, forget it. If you expect to have fun ... NOW you're talking! |
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Valued Member
United States
164 Posts |
I would not expect to find gold, which is what its most likely searched for before its sold, but there is some chance that you can find some key dates from some countries that are impossible to find without meticulous scanning of each coin. After looking at my world coins I noticed I had a coin from Palestine that happened to be a rare date, worth about 150-270$ or so. It was a pleasent suprise. So it is possible to find coins of value scattered in the mix, but i'd say a good 80 - 95% of them are not worth much (then again it depends on what countries you personally collect from also), but you do have fun and learn a bit about history too as you go through them. Oh, And one more thing, If you do go through foriegn coins to try and find some of value, This is a task that is absolutely impossible without arming yourself with the Krause standard catalog of world coins. (It list pretty much every coin made within the years 1901 - 2000, there are also other version of the catalog that go back farther, too.) |
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Rest in Peace
 United States
1380 Posts |
I'm a 3FEC collector (too many neat coins to narrow down to 1 FEC and I use a Dansco album for 2 x 2's, holds 3 across)and have bought several smaller bulk lots on e-bay ( 1 pound and 1/2 pound) and have always found something I need in each batch, though I am only at 201 countries, 91 with 3 examples. I just resell the ones I don't need back on e-bay. No silver, and I'm not looking for keys of any kind. I figure the next guy is probably looking for something different from me anyway.
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Valued Member
United States
405 Posts |
I order 10 lb bags from Black Mountain coins and although I havent found gold or silver,I have found some pre 1900 coins...
searching those bags is FUN and I recommend it
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Valued Member
 United States
284 Posts |
What does FEC stand for?
-- Boris
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Rest in Peace
United States
1380 Posts |
From Each Country, as OFEC, one from each country. Deciding what is a country is debatable, interesting, educational, confusing, and a good part of the fun.
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Replies: 11 / Views: 1,396 |
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Posted 01/22/2009 4:52 pm
