If you took U.S. coins to another country...

Discussion in 'Coin Chat' started by Pilkenton, Jan 22, 2014.

  1. Pilkenton

    Pilkenton almost uncirculated

    ...would you be able to sell them at a premium or would you lose money?
     
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  3. ROLLJUNKIE

    ROLLJUNKIE Active Member

    Where ya headed?
     
  4. lonegunlawyer

    lonegunlawyer Numismatist Esq.

  5. micbraun

    micbraun coindiccted

    I think it really depends on the coin... e.g. I don't think you could sell a top 100 Morgan VAM for as much as in the US because there are simply not enough VAM collectors. I would be interested though :)
     
  6. medoraman

    medoraman Supporter! Supporter

    I would say common issues you might gain money as they are more unusual there. Most collectible coins, though, I would say you would lose. US coins are the highest priced coins in the world compared to their rarity. US collectors, as a group, simply tend to be collectors of only their coins unfortunately.
     
  7. YOC

    YOC Well-Known Member

    What is the oldest US coin? Other countries are a bit spoilt for choice when collecting coins of relevance to the history of their country. In the UK, we can go from Celtic through to modern day...a span of some 2000 plus years and other countries much more.....So a percentage of foreign collectors are busy with these periods.
    If you collect US coins, then from forums alone surely you have an idea of how interested in your coins foreigners are.....but as we can all post coins, I am sure its cheaper to buy online than it is to pay a fraction of your travel costs in addition to the coins value, because presumably you'd have to factor that in unless you were coming anyway.
    I was after some Morgans...nothing fancy, just one from each easily achievable year. Whilst it wasnt like shelling peas finding them from UK buyers, I was inundated with kind trade price offers from the US......
     
  8. Phil Ham

    Phil Ham Hamster

    I'm in India and they'll take a US dollar for 58 rupees. It is worth 61.87. Thus, you can't get rich with dollars in India.
     
  9. Pere

    Pere Active Member

    It's not worth 61.87 if they only give you 58...
     
  10. NorthKorea

    NorthKorea Dealer Member is a made up title...

    I believe he meant that you'll get 61.87 from an exchange service, but a store will only give you 58 rupee worth of value if you present them with a US dollar to purchase goods. It's similar here with Japanese yen. Some stores accept yen, but will only give 85 or 90 cents of value for 100 yen, even though the exchange rate is 95 yen or so.

    As for the OP's question, it depends on the country. I've found that I can "trade" US coins (mostly junk gold 19th/early-20th C stuff) for more than they're worth in the Philippines, but in Thailand, they'll offer me whatever gold traders pay on 22k.
     
  11. Pere

    Pere Active Member

    Yes. My point is that the value therefore depends on where you are.
     
  12. chrisild

    chrisild Coin Collector

    In a German forum we have an initiative where somebody gets coins in "bulk" quantities (well, as close to bulk as possible ;) ) and then distributes them among interested members. This is the "USA 2014" campaign:

    us14.jpg

    Total face value of the coins is $13.75 which is €10.15 these days ... and I pay €16.25, hehe.

    Christian
     
  13. NorthKorea

    NorthKorea Dealer Member is a made up title...

    It's still worth 61.87 to the store, so I still think you missed the original point. The store is charging a 3.87 service charge for accepting dollars instead of local currency. I believe, technically, that with such transactions, the store could refuse to give you change, since they're doing you a service in accepting dollars, anyway.
     
  14. Pere

    Pere Active Member

    Or, they're making that by taking the dollars to where they're worth more; you could have done the same.
     
  15. mlov43

    mlov43 주화 수집가

    I travel to Seoul, Korea about every summer.

    I am shocked to see that there is a good deal of interest in US numismatics over there. Granted, there seems to be a much smaller collector community per capita compared to North America. It seems that after Korean items, US numismatics are a close second with Japanese, followed by European and Chinese.

    At this Korean online retailer, you can find 51 webpages of US coins and medals for sale...:
    http://www.sujipbank.com/shop/goods/goods_list.php?&category=004005

    And 55 pages of US banknotes:
    http://www.sujipbank.com/shop/goods/goods_list.php?&category=003005

    I'm sure this retailer would love to come across some nicer/key-date US stuff that they probably almost NEVER see in Korea.
     
  16. gxseries

    gxseries Coin Collector

    I think you'll get a mixed bag - some of the more common coins may sell for a premium and in return, the key dates may not sell as well as you may think.

    These days you can buy a fair amount of stuff over the internet and coins are one of them. No reason why people would pay double or more of what they can get over the internet unless they happen to live in countries with a lot of import restrictions or just difficult.
     
  17. NorthKorea

    NorthKorea Dealer Member is a made up title...

    Most countries in Asia (and I'd assume the rest of the world) actually have very strict import restrictions regarding money. Coins are banned from being shipped into Asia, so I could see why they'd pay a premium to buy in person, I suppose.
     
  18. chrisild

    chrisild Coin Collector

    Shipping coins to Asia is not illegal at all - it actually depends on the country. ;) Also, we need to keep in mind that postal/parcel services have their own limitations regarding coins. In other words, you may very well be allowed to bring coins with you that you are not allowed to send ...

    Christian
     
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