A Long Beach highlight

Discussion in 'World Coins' started by satootoko, Sep 10, 2004.

  1. satootoko

    satootoko Retired

    Not much in the way of world coins at this Long Beach Show, and some of the dealers were really uptight about their world coin prices - one of them wouldn't give me a break on an overgraded coin even though I was buying four others at his asking price.

    I did pick up a couple of hard to find minors at reasonable prices, but the only real "buy" of the day (for less than the F value in Krause) was a Meiji 25 (1882) dragon yen, counterstamped "GIN" (Silver) at the main Osaka Mint in 1897, in connection with the internal demonetization of Trade Dollars and ¥1 silver coins. About 20 million were shipped to Korea, Taiwan and Southern Manchuria for use in international trade. The countermark was intended to prevent the coins from being returned to Japan and exchanged for gold, due to a shift in the relative values of gold and silver. A few years later, the minting of silver ¥1 coins (but not Trade Dollars) resumed through the remainder of the Meiji era. In Taisho 3 (1914) the final silver yen was minted, but it wasn't until Showa 23 (1948) that brass yen were produced. Notes had been used for the denomination in the interim.

    The coin has a touch of luster, and its detail is much nicer than my lousy photo skills have rendered it.
    Obverse Reverse
     
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  3. jody526

    jody526 New Member

    Great report, satootoko.
    Glad you found some pieces you could use.
    The counterstamped dragon yen is nothing short of beautiful.
    Congratulations.
     
  4. GDJMSP

    GDJMSP Numismatist Moderator

    Another nice one for your collection satootoko ;)

    Re: prices for world coins - For the past 2 months or so I have been seeing a very steady and quite strong increase in the prices for many world coins. Especially those I collect :eek: It has even stopped me from buying several coins that I normally would. In some cases - prices have doubled almost overnight. I don't know if this is just an aberation - or if it is the beginning of something I did not think would happen for a couple years yet.

    For quite a while now I have been noticing many US collectors turning to the world coinage. There hasn't been any big rush - they have just been trickling into the darkside slowly. I have attributed this to the huge increases in the prices for US coinage over the past 4 - 5 years as I think many collectors have been priced right out of the market.

    I hate to say it - but I rather think that this increase in world prices may be the precusor of something the numismatic community is not going to want to see :confused:
     
  5. satootoko

    satootoko Retired

    I'm very much afraid you are right Doug, although with only 4% of gold, 34% of silver, and 74% of minors "in hand", I sure hope you're wrong. :(
     
  6. Ian

    Ian Coin Collector


    Could you elaborate a little on that comment for me. i could take it a number of ways (dependent upon which way i saw my `interests' going.......:)

    Ian
     
  7. GDJMSP

    GDJMSP Numismatist Moderator

    OK - let me put it this way - I think the coin market is due for a sizable drop in values. But that's a subject that deserves a thread of its own instead of hijacking this one.
     
  8. tradernick

    tradernick Coin Hoarder

    Nice coin Sat. I like it a lot...very interesting :)
    Nick
     
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