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Coins Of Seychelles Question

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DL20K's Avatar
Poland
3201 Posts
 Posted 02/22/2010  4:18 pm Show Profile   Bookmark this topic Add DL20K to your friends list Get a Link to this Message Number of Subscribers
Hi, I saw these and remembered reading about coins of this country here at the forums. So I bid $2 for each of them and won them for:

$1.15
Coins-Of-Seychelles-Question

$1.65
Coins-Of-Seychelles-Question

My questions are as follows:
- do these coins really have such low mintage? Krause says 30,000 and 72,000 respectively.
- if they do, why is their price about one dollar in EF? Didn't they circulate? Were they hoarded or what?
- can this considered to be a good buy?
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echizento's Avatar
United States
23731 Posts
 Posted 02/22/2010  4:55 pm  Show Profile   Bookmark this reply Add echizento to your friends list Get a Link to this Reply
I would guess that the low mintage is due to the country not needing to mint too many coins based on the countries small size. From what I can see both these coins are in mint state and you did very well paying just $1.15.
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Sap's Avatar
Australia
16898 Posts
 Posted 02/22/2010  8:19 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
The coins certainly circulated, but the Seychelles is a very small country, with a tiny population. Even today, the population is only 84,000, 90% of whom live on the large main island of Mahe with the rest scattered across dozens of islands. As such, there is virtually no native collector base; any "demand" would come from overseas collectors of foreign coins - particularly OFEC and British Empire/Commonwealth collectors. Such people rarely try to collect every single date/mintmark of every single denomination, so there are very few people trying to "collect the whole set" of Seychelles coins. Low demand = low price.
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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