WTC Coins Buy / Don't buy?

I know it's been discussed before but I'm having trouble deciding about WTC recovered coins.

Disclaimer: Anyone who chooses to buy WTC coins be my guest. If you choose to collect them go for it.

I'm using this site as a reference:

http://www.wtc911coins.com/

Generally I see them slabbed by PCGS. How were the coins verified as being recovered from Ground Zero? By depositor records or a banks? The coins I assume were in vaults, not safe deposit boxes since they would be unrecorded. The prices are very high especially for ASEs.

The COMEX article and graphic titled,

""Cache of Gold Found at WTC Two truckloads
retrieved through a tunnel in rubble""

could be factual but realistically could just as easily be fabricated or exaggerated. I'll admit, I'm a hard sell regarding these things.

Going with " what ever the market will bear " is the American way. If there's a demand someone will move to fill it.

Is it true that the first and last coins in some rolls suffered smoke and heat damage? Further do these coins command an even higher premium?

On feeBay for instance ,what are the chances the coin you purchase was recovered from ground zero? Bogus coins are common from China. Why not bogus slabs and bogus UPCs.

And lastly my biggest concern is, are the sellers cashing in on the worst domestic act of terrorism America has ever seen? Does anybody feel that buying any of these coins is wrong? When I first read about the recovery I felt I had to have at least one. I slept on it and decided no.

No American could take 9/11 as just another horrible occurence to be filed away in the history books.

Are the coins a piece of history? A memory of the lives lost? Relics of the enormity of our losses?

Or are they capitalism at it's worst?

 

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Or are they capitalism at it's worst?

I think you said it in a nut shell......

 

All of the above.

 

Simple search shows the coins for sale at TeleTrade and Heritage. I'm sure there are more. These two reputable sites seem to indicate the coins are really recovered from ground zero. Does anyone think either site could be duped?

http://www.teletrade.com/coins/lot.asp?auction=2617&lot=2488

http://coins.ha.com/common/view_item.php?Sale_No=411&Lot_No=9854

 

I wouldn't touch one for anything over silver melt.

 

I was discussing this with a friend recently. He works for a Coin dealer that deals in LARGE volumes of bullion. Before 9/11 he would drive into the basement of the towers to pick up deliveries of bullion. There was a major repository there. After 9/11 there was a lot of bullion found in good condition. These were turned over to the grading companies to be specially packaged. a percentage of each coin sold the first time round went to the 9/11 surviors fund.

That being said, the specially packaged coins are a part of history. If these coins help people fifty years from now to NOT forget 9/11 then they will have served a purpose.
I have not bought one of these yet but would not have any problem owning one. Just as my grandfather's mess kit from WWI triggered conversation about that terrible yet historic event, maybe someday my grandson will hold a WTC coin in his hand and ask "Grandpa, why is this one special?".

Richard

 

Oh man, this thread reminds me of a story.

About a couple/few years back, I had one of them Coin Shopping Shows on in the background while I was cleaning, and they were selling those 9/11 coins. A caller called in, and she was remarking about 9/11, etc, and she made a comment where she (was gonna?) cracked the slab and wanted to turn it into a pendant. The presenters told her that by doing that, she would lose all value on the coin's provenance. But she insisted that by making the pendant, she would keep 9/11 memories alive.

I wonder if she's regretting it given it was one of them ASE's.....

 

I would like to add one to my collection at some point, but I'd have to find a decent deal on them. Those prices are a little crazy IMHO.

 

Good point Richard and nicely said. My fathers medals from WW2 flashed into my mind as I read your response.

My dads hardware from the Army Air Force fits your decription of a reminder of a horrible but historic event.

The WTC coins? I still can't decide.

 

For the conspirophobes

http://forum.911movement.org/index.php?showtopic=442


Alright, take a look at Ground Zero. Notice where Building #5 is sitting. Also notice how close the federal building is to Building #5 (right across the street). According the report, the gold may have been moved from the Bank of Nova Scotia, whose vault was under Trade Center Building #4, adjacent to the first tower that collapsed. It was clearly being moved AWAY from the South Tower.

This leads to the question: did someone suspect building #4 would be so damaged (from a 'collapse') that it was imperative to move the gold immediately? Since the South Tower collapsed first and there were tons of debris in the tunnel, it is amazing NO bodies were found there guarding the gold. There clearly was more going on than a human rescue operation on September 11.

Scotia's gold was probably MOVED before 9/11

 

Dads Medals are a tribute to his service to his comrades and our country. They are very "real" in meaning of what deeds were performed to achieve them.
Outside the slab the WTC coins mean nothing....just another hunk of metal. I think it's hype.....

 

Nice. So when are you gonna link the 1933 Double Eagle to WTC as well? That the move to Fort Knox was also a "coincidence?"

 

Nope, I should have added I think any conspiracy talk about 9/11 is bull
spit.

 

That is good to hear...

Ruben

 

Originally Posted by SINED
Conspiracy theory.

Nice. So when are you gonna link the 1933 Double Eagle to WTC as well? That the move to Fort Knox was also a "coincidence?"{ QUOTECESARIOJPN}


{QUOTE }Nope, I should have added I think any conspiracy talk about 9/11 is bull
spit.{ENDQUOTE SINED}
________

------ ------ -------- ------- ------- ---------
My response was to cesariojpn, not you mrbrooklyln. Mighty egotistical for you to think otherwise.

Your whining" I'm a hero, I'm a New Yorker " Private Message to me showed how badly you need to be the center of all things.

You are a pompous edited and I'm glad to be rid of you.

It's been nice knowing most of you folks here at CT. Goodby.

Denis

 

Your leaving? Why?

 

First.
Just remember with the chain of custody that had to be in place for PCGS to certify these coins as Ground Zero recovery coins. We tried to have some coins from a vault certified by PCGS and even with paperwork from the vault (Chase Manhatten) they would not do it saying that the chain of custody could not be certain. So I would give PCGS a little credit on this point.

Second.

If people want to invest in these coins are their own business I would say and I do understand the for and against arguments but knowing about them and their storry I think is important to everyone.

Third.

A lot of people first looking into the World Trade Center coins gets confused about the gold that was there in raw bars for the comex trade and the buillion coins. The coins that where certified was bought from the Toronto-based Bank of Nova Scotia that had their vault under World Trade Center Building #4

 

Someone's thrown their toys out of the pram...

As far as the coins themselves, I don't see a difference between them and those recovered from shipwrecks nor do I see them being anything special because of it.

Of course, as I have said elsewhere, I'm not a big fan of modern mint-issued Bullion coins myself.

 

I find the history around coins like this interesting. I'd love to have a coin that was recovered from a shipwreck and a WTC recovery coin...but not at the premiums they seem to sell for. I'd be willing to pay a premium for the coin because of the history...but I have seen WTC ASEs sell for $200...that's a pretty steep price jump for a 1oz bullion silver coin.

 

Price on WTC Coins

No I agree I normally see on Ebay that a WTC silver 1oz coin not 2001 can be had for around $100 and the 2001 would be around $200. The wtc gold coins are around $1000-1200 on straight auctions some coins are very rare in the population of the coin and those you can almost not pay for.

The most rare are

1993 1oz silver MS69 and MS69 price around $800 pop. 120

1994 1oz gold MS69 and MS68 Staring at $2,200 pop 17, pop 15

2001 1oz gold MS69 Starting at $6000 pop 50-60

There are plenty more that are very rare.