This is a little-known coin, whose existence I ascertained but was unable to find for many years. This coin is a very small brassy pot metal coin of a VERY small denomination in both buying power and size. The mintage was 2,000 but it was no NCLT coin and NOT hoarded. They were summarily dumped out into circulation in Guyana, a hot and steamy South American former colony of Great Britain that virtually guaranteed poor survival. I had not even seen one in abysmal state, but found this at eBay France a couple of months ago. I would be most interested if anybody knows anything more or has seen any others.
Your coin doesn’t look to be in very bad shape at all when you compare it to the condition of mine - one from 1988 and one from 1990. I also see that I have a 1 cent coin from 1979. I shot them so you could have a look. Sorry about blurry top photo.
Ah yes, thanks for those pictures. For some reason they struck quite a few of some of the other years & I think it was (??) 1988 that a couple of the denominations were lower mintage but most saved as by then one, five or even twenty-five cents Guyanese was worth so very little. Kind of sad, I don't know how that economy even survives.
Actually these were quite common coins in commerce in Guyana at the time. The nation was in its infancy and due to the poor leadership of its newly elected government the economy was thrown into chaos by out-of-control inflation. At the time of Guyana's independence in 1966 one could exchange a single US dollar for two Guyanese dollars. By 2000 the exchange rate had climbed to $200 Guyanese dollars for one US dollar. As a result by the mid-1990s all small coinage bearing cent denominations were replaced with a few $5-$10 coins, which also quickly ceased use in common exchange. Currency with denominations of $100 and higher became the means of making change for everyday transactions. Prior to independence British Guiana's largest note was a $20 bill, purple, bearing Queen Elizabeth II; today Guyana's largest note is a $5,000 bill, lime green, bearing picture of Guyana's Rainforest. The economic drivers remain basically the same as they were a half century ago, but the Guyanese people are poorer in spite of people having more "dollars" in hand. I had the privilege of spending three of my early teen years living in British Guiana. I left in 1964, returning to visit numerous times over the years. Some of my wife's family still live there. I collect almost everything I can from this former British colony. My collection includes coins from 1809 to 2000 bearing King George III, King William IV, Queen Victoria, King Edward VII, King George V, King George VI, Queen Elizabeth II and assorted Guyanese animals and scenes. Needless to say this is one of my passions.
Wow, Ed that is very impressive. There was a recent sad NY Times editorial that briefly recomprised the history of Guyana in a critique of a certain prize given with "ill-gotten" proceeds. Do you have or have you seen another 1978 5c. Quite common in other years. What about the 1975 or 1976 5 cents as these are of unlisted mintage and have no idea if they are scarce or not. Also out of curiosity, and you may PM me if you like, do you have any of the 1977-80 issues in the 5 & 10 dollar denominations (Franklin Mint) in uncirculated - as opposed to the proofs - condition?
Hi, Calling on Ed! Please let us know if you are OK and share some Guyana coin knowledge again if you are able. Thanks!!!
Sadly, he does not seem to respond and did say he was in ill health previously as hinted. This Guyana series in low denomination is a bit interesting the One and Five cents. The later ones evidently had almost no value even at the time, but the earlier bits did. I just got a 1969 that has a higher mintage but of a vintage that may have reached circulation channels.
Hi. Is this thread still open? I'd like to join the conversation. I moved from N.Y. to Georgetown December 1968 at the age of 10. Needless to say the coins were quite the contrast from plane old US silver.lol The story I heard about the exchange rate was at 1 US to 1 Guyanese when first issued. Ed says it was a 2 to 1 and it's more than likely he is correct. My attention span was quite short living in that city at that age and at that time in its history.
Yes, this is still very much an open conversation and glad to discuss any matters. Ed70 evidently lives (d?) in Guyana and had a wonderful collection which I thought he was on the verge of sharing with us at least in picture form. There are not I gather many collectors of Guyana, but I know of them through the Franklin Mint issues of 1976-80 and subsequently the minor coins issued by the Royal Mint through 1992. The huge inflation evidently did in any significant coinage since that time with only a few dollar-denominated coins and some uninteresting commemoratives and paper money. Do step in!
Just an update: no update! LOL. Ed has evidently fallen off the nap, and I hope not worse. The 1978 5 cents Royal Mint with the lily is still quite elusive and have not seen any other higher grade specimens. Many of the other minors may be as well, but some are not and mintage as Cladking will tell you does not tell the tale of which is more difficult to find. Also, very hard to find the Franklin Mint Uncirculated larger 5 and 10 Dollar coins (struck in copper nickel) even with the more common 1976 year; later years I have not seen.
Please note that I did locate an Uncirculated (U) 1980 Ten Dollar coin - must be quite rare as I still have seen no others from 1977-1980 in uncirculated, the proof silver variants are not rare however.
