Good day to everyone. I have decide to sell a coin I have and Im wondering about the importance of the number of coins minted. I have researched past auction sales, checked all coin lists and I know what my coin is basically worth I believe. It has only 11,00, give or take, minted. If I walk in to sell this to a coin buyer, would the low mintage drive up the price much? it seems to me that it would be considered rare but it is not really a coin that I would seek out or consider popular. I guess is low mintage a huge factor on all coins? Thank you
Low mintage doesn't necessarily drive up the price in a coin. Demand is the major factor. Look at the 2001 silver Buffalo commemorative dollar. There are in the neighborhood of 235 thousand coins (unc.) produced yet the price for them is high due to demand......
Let's see if I can take a stab at this one The demand for the coin would determine the importance more than supply. That about sums it up.
The value is a match between the supply and the demand. If 10,000 coins were made but only 100 people want it, there's going to be a very low value. If 100 were made but 10,000 people want it, there's going to be a very high value. There are so many coins out there that a dealer can't track all of them. They will look at recent sales, or consult a price guide, and determine an offer based on that. The actual mintage is meaningless on its own.... you have to compare supply and demand. I'll give you a real world example.... This coin has approximately 5 known in the entire world.... and I got it for $700 because there aren't a whole lot of people who want them.
Yeah, I think Cook Islands issues actually suffer due to all the shenanigans from places like Bradford Mint that strike "coins" in their name. It looks like it's an ounce of .999 gold, but you'll see very little premium over that. Heck, a lot of First Spouse gold commemoratives were struck with mintages under 3,000, and they're official US issues, but if you sold one on eBay, you'd get less than spot after fees. Even in a PCGS PR70DCAM slab. To me, it's worth exactly spot. Offer it for sale in enough venues, and be patient enough, and you might find someone willing to pay more.
I don't see the content of that piece shown anywhere. Cook Islands pieces have been seen with quite low overall gold content. Check out this thread. https://www.cointalk.com/threads/these-people-need-help-fast.413072/#post-25445810 One may conclude they are buying a pure gold coin when in fact it has less than a quarter gold content. 24% to be specific. It might not be worth what you think it is. Z
Here is the Numista listing for the 24% gold piece. It sold on fleaBay for $244. Bullion value, under $60. The seller, and whomever commissioned this piece, are definitely banking on the inexperience of those new to collecting. https://en.numista.com/catalogue/pieces90736.html Using the phrase "1/10 oz .24 pure gold" is really duplicitous. Z
I’m with @-jeffB and the others who replied that this coin is worth its bullion content alone, with no numismatic premium. NCLT (non-circulating legal tender) issues from smaller island nations like The Cook Islands are not in great demand, despite being heavily hyped to US collectors, and low mintages don’t have much of a bearing on their price. Still, IF you’ve got a full ounce of gold there, it’s got considerable bullion value, and the fact that it’s PCGS certified is a plus. And it’s pretty. So you’ve got a nice chunk of gold there. But how much, in Troy ounces? Numista doesn’t say. It only gives the weight of the coin: 31.1 grams. If it’s 31.1 g of .999 gold, what’s that work out to in Troy ounces? The math fails me.
OK, so here's one that sold in May of last year on Great Collections. Past auction sales are the best reference for pricing (though the movement of the bullion market will change the value over time, of course). At the time, that one sold for $1,955 ($2,199.38 with buyer's fee). And they say it's .999 AGW (Avoirdupois Gold Weight). So yep, it's a one-ounce coin, which is good news. Nice chunk o' gold, there. Today's spot price for gold, according to Kitco as of this post, is 2,324.30. So there's your value.
I have a platinum coin from Panama with a mintage of just 300 pieces. It's worth its bullion value only, as there's little or no demand. You hear that rarity is what drives a coin's value, but it's always demand. I don't care if the coin is unique, if there's only one person who wants it it won't be worth all that much. Demand is the key!
