A couple of years ago I bought a Russian gold coin dated 1991. Its weight is about 0.25oz and it's 24 carat. It's in uncirculated condition. My question to all is why was I able to buy it for only $50? Some gold coins are worth much more even with less gold. For instance I have also recently bought a proof gold eagle 1/10oz for the same price. Is it because gold eagles are more popular? I noticed this to be the case with all international gold - it just seems to be cheaper than US gold. Any good theories as to why?
The base value of gold coins is their gold content. What drives price up beyond that is interest/demand. If you got 1/4 oz of gold in a coin for $50, its either fake, plated, the price of gold at the time of purchase was way down, or the seller didnt know what he was selling. if you post pictures someone with knowledge of that type of coin would be better able to assist. Good luck.
Wait, your story doesn't make any sense. When was the last time gold hit 200 dollars per ounce??? The cheapest during these recent years was in Jan 01 when gold was close to 250USD but never any cheaper. Also, I don't know any Russian gold coins that are in 24k and in uncirculated condition. Are you sure you are describing a right coin??? Since it's 1991, is it a Soviet coin??? A picture WILL greatly help. It will help to determine what gold coin it is. I cannot tell what exactly it is. P.S. if that coin is genuine and you are to sell it now, trust me, it's worth a lot more than 50 dollars. Recently modern Russian coins are much more expensive than US gold eagles (that is if you can even get your hands on one) so your theory is most definately wrong.
P.P.S. If it's indeed a Soviet gold coin, there were NEVER any Soviet coins minted in 24k, but at .900 fineness. (edit: and a few in .585 for some odd reasons) Unless you got a Chervonetz or Soviet Gold Olympics coins, most modern Russian / Soviet gold coins have their weight content and refineness denoted on the reverse. i.e. Soviet Union: (on left side) Au900 7.78 Russia (usually metal content on the left side, weight content on right side) Au999 7.78
Yeah, you're right it's a 14k (Au585). I guess I just really wanted it to be 24k I'm Russian myself so I knew exactly what I was buying - It's a 1991 Ballerina (or Bolshoi Theatre) commemorative coin. The face value is 50 Rubles or 5 times that of the Chevronetz, which is 10 rubles. And yes, it's a USSR coin, made just before its fall. It also says "7,78", which I guess means it has 7.78 grams of pure gold. Any idea as to its worth? I admit I got really lucky on this find. The seller obviously didn't know what he was selling, but also I felt there wasn't much interest in Russian gold (this was on ebay). For instance, I was also going to buy some gold from late Tsar era dating sometime between 1880 and 1905. Those always seemed underpriced ($45-$70) and I figured they were bad investments. This was all years ago - I haven't been that much into gold ever since.
Hi all, I posted the coin with images here: As they say, a picture is worth a thousand words. But, getting back to the original topic, have things changed? I mean are people starting to consider international gold as investments?
Mintage of your particular coin is 2400 in Brilliant Uncirculated condition. Nice one Those 585 coins aren't too common because that was the only time Russia minted gold coins in such low quality. That coin is worth at least 100+ and I have seen one going at 130+. ValD, I am not too sure if you are aware of the recent Russian gold coins prices as they are getting quite scary. I mean, do take a look at eBay and look for Russian gold and most probably the prices will give you a shock. It most definately isn't like what it was a few years ago. I guess it also depends on what country you are specifically talking about though. It doesn't really have to be US "investors" alone to drive up prices - is it wrong for a country's own fella to buy his own country's gold?
Too expensive? I found one from clark smith MS65 rouble (I think its from russia) approximtaely 1/10 oz for pretty darn cheap. Not expensive at all. are you talking about all gold coins in russia? Because this one certainly wasnt expensive. Plus it was graded by NGC
Maybe a check on Clark Smith's site will help: http://www.coinvault.com He deals with gold coins and they aren't really cheap!
He does have some cheap gold. I just bought one from him for 101 dollars. And if you look under russia gold, there was one for under 100. And I do visit his site But I wont order from him again he is a scammer
Wow, thanks for the info. Now I think I'm going to hold on to it It's good to hear folks are interested in Russian gold.
Yes, do keep it. A mintage of 2,400 isn't a lot and especially such ridicious low gold quality metal coin was only minted in the whole of Russian's coinage. Of course if you want to sell it now, you might make a bit of money but trust me, a mintage of only 2400 isn't a lot. You can fill a box with that and that's it! P.S. nice coin you have there... I only have the 10 ruble version of the same coin you got there... you can check my list which is in my signature. Now back to your question, you shouldn't forget that gold prices is at one of the highest right now at around 470USD. It is NOT suprising to see that gold coins too get affected because gold is a commodity.
I have at least 3 Soviet coin catalogue books even without Krause. Quite unlikely that all of them are wrong...
