1961 5 cents cuban

Discussion in 'US Coins Forum' started by rarecoin, Apr 29, 2011.

  1. rarecoin

    rarecoin New Member

    I have a 1961 cuban 5 cent coin what is the value of it:hail:
     
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  3. rarecoin

    rarecoin New Member

    Picture 029.jpg here is a pic of the coin Picture 031.jpg
     
  4. Conder101

    Conder101 Numismatist

    Maybe a quarter and that's full retail. It would be common to find a coin like this in poundage, that's a bulk lot of mixed foreign coins that sell for so much a pound. Most of the quarter retail price is what I call the dealers "nuisance fee". It is more than the coin is really worth, but he has to charge that much to try and cover the expenses of simply handling it. Not trying to be negative about it, but for a lot of foreign coins it costs more for the dealer to holder and catalog it than he will make from it. When I worked in a shop, anything that cataloged at $2 or less we tossed in the two for a quarter box.

    On the other hand, that is one of the great things about collecting foreign coins. You get a lot of bang for the buck.
     
  5. cladking

    cladking Coin Collector

    This is actually a highly desirable coin in ChUnc. It lists for only $2 which is mostly a nuisance fee but finding this coin is exceedingly difficult despite a mintage over 70,000,000. People just didn't save these when they were new and they got all worn out and beaten up in circulation. I'd guess they've all been withdrawn and melted by now or destroyed for private uses so finding nice pristine examples is extremely difficult. The price is low not because they are common but because there is virtually no demand whatsoever.

    In a few years relations between most of the western governments and Cuba will probably be normalized and you'll see a great deal of new demand for the post-'58 coinage. Then we'll know which are common and which are scarce but I can tell you in advance; most are tough or scarce. Almost none exist in the US and these don't exist in very large numbers anywhere.

    The '61 5c isn't too hard in XF/ AU and isn't scarce in Unc but choice examples are elusive in my experience. Poor examples will probably never carry much of a premium because these will literally come out of the woodwork and be recovered from dumps and the like. But once a coin is allowed to all go into circulation there is no going back and this has happened to countless moderns.
     
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