I would like more opinions on individually numbered coins: I wrote and published on the internet this article ( http://www.dokdo-research.com/fivemillenia.html ) about South Korea's first gold and silver commemoratives. I asked for responses from some of the first viewers of this article. One commenter had an interesting story (see below). He claims that a coin retailer he once knew did not like the fact that the 25,000 Won Gold and 1,000 Won Silver coins were numbered progressively as they were minted with a counter-stamp. So, If coins are NUMBERED by a mint, does that take anything away from its standing as a "coin"? Does that make it more of a "medal" in your opinion? ___________________________________________________ From 1969 to 1971, I worked part-time for a London coin retailer who specialised in modern issues. There was very little marketing of these coins in England and we only found out about them by accident when a regular client asked about them. Even then, my boss would not buy them. The fact that they were to be individually numbered, made them medals not coins (in his view). He felt that Italcambio was a shady outfit, issuing some collectibles for places that did not exist and according to his US friends, possible links to the mafia. He decided not to risk his capital on the Korean 'coins' and not to risk his reputation on his client's behalf. I think this highlights Italcambio's lack of marketing in England since I later met people in Europe who had no qualms about buying their products. Incidentally, he wasn't xenophobic at all, however in those pre-internet days it was both difficult and expensive to get reliable information about foreign companies.
It's pretty ironic these days - people have different views over the year and I presume back then, it was a no-no. I have to disagree - they were struck as commemorative coins and have it counterstamped with the issue number, making all of them unique. But at the same time, I can see where some are coming from.
Shoot. Shades of the Franklin Mint or other such gimmicky tripe. Still, I understand that there may be certain collectors out there who would welcome such a happenstance. Well and good for them I say but not for this collector...........
I think it's a coin if struck by an official mint as an official government issue with legal tender status.
The French mint (Monnaie de Paris) did that with a few collector coin issues, starting in 2002, I think. The early 5 oz and later 1 kg gold pieces have serial numbers such as "123 / 500" on the edge. Of course the mintages of the heavy gold issues are much lower than that, 29 or 39 maybe. No reason why such pieces should be more or less "legit" than, say, Canadian Superman issues. Neither has anything to do with coins as means of payment, but the mints make them, and the governments put their "legal tender" seal of approval on them, so ... Christian
Ah! So...what, then, do you think about THIS coin?: http://www.ebay.com/itm/Guatemala-P...4360243?pt=US_World_Coins&hash=item3cca6fc4b3 It is actually a coin manufactured by the Romanian Mint(!). They made this coin as an (unsolicited) example to show to the government of Guatemala as something that the Romanian Mint could make, if the Guatemalans so desired. Never accepted, nor sold as a commemorative, nor circulated. It's called a "Pattern Coin" in the item description. It's NOT numbered, but it is also NOT an official Guatemalan-government issue. Is THIS a coin? Could it even be called a "pattern"? Some of these Romanian-minted coins (the bi-metallic versions) are actually listed under the Guatemala section in Krause's SCWC. I've asked about this coin here at CT before, and many people thought it was legit.
I feel it is counter stamped and at best a medal or a altered coin. If the number was on the working die and 1 coin was stamped per new die, I would accept it, but otherwise a chinzy marketing ploy.
No, not a coin. As you wrote, it is an unsolicited pattern. Whether a coin is produced by a private mint, a department of a central bank, or a mint that is a separate profit center of a government, does not mean much. Lots of countries do not have "national" mints and have their coins and notes produced elsewhere. The point is, did the government (Guatemala in your case) authorize the issue and make the piece legal tender? Apparently not. (Side note: It does not show up, and rightly so, in the world coin catalog that I use. ) As for numbered coins, well, many countries in this world issue all kinds of tacky coins. And sometimes (Liberia, Somalia, etc.) it is hard or impossible to determine whether a certain piece was an official issue or not. Fortunately, for us collectors that does not have to be relevant: I tend to focus on pieces that actually circulate(d) or that - in the case of BU and proof sets - would be/have been accepted in circulation. And yes, if I like a modern silver coin, I may buy it, knowing that it was made solely for collectors. Whether the mint numbered it or not does not matter then ... Christian
