I was going through a shipment of silver world coins that just came in today and came across this Egypt 2 Piastres (1944). This coin is silver and was only minted this one year, further more it is a hexagon and only has a mintage of 32k, so not even everyone in one small town can own one. This coin has several reasons to be worth lots and lots of money and being highly desired... so why isn't it. 85 cents - $5.50 It just doesn't make sense to me. Any one have any opinions on this? Sincerely, Donn http://www.cointalk.com/forum/members/dctjr80/albums/123/ This is some of my favorite coins from my collection. Date---------Mintage---F---VF--XF--Unc-BU AH1363-1944 32,000 0.85 1.45 2.75 5.50 —
Supply and demand. Probably not enough demand. Plus where did you get the values for it, they could be wrong. I think its a nice coin and would certainly keep it.
If 2009 Standard Catalog of WORLD COINS 1901-2000 (36th Edition) cant get it right who can.. That's where that copy and paste came from ;-) and Supply & Demand is my point, There is NO Supply for this Silver &1 year &lowely minted &odd shaped Awesome coin so why is there not a High Demand based on those 4 Attributes?
I have exactly the same one,it's Malik Faruk's 2 Piastres. I think it was minted 320K not 32K.Egypte has a very huge number of population as a business strike coin it should be minted at least 1 million!at that time. This coin is not rare at all,the main reason of the demand is its shape. Many silver shops here make a ring with this coin,the set the coin on a ring & they also plat silver. I have seen many times these of this coin at coin shops,it's a beautiful coin,the guy on the obverse himself was a coin collector,the famous holder of the rarest $20 double eagle... nice coin!
That makes sense, so it's a misprint in the 2009 Standard Catalog of World Coins 1901-2000 36th Edition. Thank You for the information.
The values listed in the Krause catalogs are iffy at best. It is quite common for them to be way too high and way too low. The only way to find accurate values for any coin is to search out completed sales prices. That said, there are more coins out there with very low mintages and very low values than you can count. I have owned coins with total mintages under 50, some under 35, and yet the coins routinely sell for bullion content. So a coin with a mintage of 32,000 is nothing. The reason for this is simple, nobody wants the dang things. For any coin to create a demand for itself there has to be enough of them to go around to create a market for the coin. And this cannot happen with low mintage coins. If available numbers are very low then most people will ignore the coin. This is especially true with world coinage which has a lot smaller collector base than US coinage does.
It would probably have more desire with those collectors who look for oddly shaped coins - 7 sided, square, holed, wavy edged, etc. This is from www.coins.in
Hi all, This is one of my favorite coins. It is silver, has an amazing design and of low mintage for only one year. This coin was minted in 1944 in the 8th anniversary of King Fuad death (April 28 1936), IMHO this design was used only by King Fuad coin the 2 ½ MILLIEME, AH 1352-1933, KM# 356 that was also minted for only one year, and I think may be his son King Farouk used this design as a kind of a memory of his father. Regarding the value of the coin relative to its low mintage, most of these coins are still present in Egypt. Many Egyptians keep it for its beautiful design and I think IMHO raising its value in Krause would create a high demand and make it very difficult for many dealers or collectors to get it out of Egypt.
