I bid on this 1956 British Honduras 10 cents coin at a high bid of $3.50 and thought I'd win it. Then I see it sells for $46! Krause value for uncirculated is $7.50. So from somewhere two people show up who want to spend $45 or more on this coin. It makes no sense. And the losing bidder has bid 2,300 times in the last 30 days. So weird. http://www.ebay.com/itm/351456003000?ssPageName=STRK:MEDWX:IT&_trksid=p3984.m1435.l2649
Two collectors fighting over what people think is a common modern coin? It happens a bunch. Good for the seller, but I bet it only happens very rarely. Most of the time I bet one buyer was willing to go to $45 but buys it at $4. I have done that. I put in a bid at a major auction house for $1200 and win the lot for $200. I do agree there are a lot more scarce modern coins, especially world coins, than people really are aware of. Problem is, when it comes time to sell do you think the buyer will get the same money out of it, or $3.50?
The thing is coins from British Honduras sell for more than many people would think, but when I say that I mean a coin people might assume is worth 25 cents will actually sell for $4. This is way beyond anything that makes any sense. I can't imagine sitting down and bidding $46 for this unless I literally had more money than I knew what to do with.
The first couple years of this series are tough to find in this grade. And often they have surface issues, probably from the hot, humid environment. This is a very nice example, not often seen. Not all that surprised that two people really wanted it.
I would agree on grade rarity. supply and demand. someone had to have it no matter the cost. looks like a bidding war.
If I thought I could get that much, I'd sell every foreign coin I've ever found or received in changed up for bid. Don't spread the word, but I'd settle for half.
Pre 1940's Central, South American and Caribbean coins seem to be in demand these days. I've been checking prices lately and they are up x4 to x10 what they were just five years ago when I purchased the same type of coins in better condition. Now it seems that it is spilling over to the 1950's and 1960's issues as well. This particular auction seems to be ridiculous though.
Here's a couple of examples: Jamaica - 1 Penny - 1869 2005-2013 $7.00 to $10.00 2015 $13.00 to $25.00 Jamaica - 1 Penny - 1887 2005-2013 $3.00 to $7.00 2015 $12.00 to $30.00 British Honduras - 5 Cents - 1952 2005 to 2013 $0.25 to $1.00 2015 $3.00 to $30.00 Belize - 5 Cents - 1973 2005 to 2013 $0.10 to $0.25 2015 $.075 to $3.00 Danish West Indies - 1 Cent - 1913 2005 to 2013 $5.00 to $8.00 2015 $12.00 to $25.00
Those are a lot of the same coins I've been after myself. I am trying to collect a Jamaican set but the prices are prohibitive. Countries like that and British Honduras I can find cheaply if they are at a local coin shop or an off-brand auction site but on eBay they always go high.
Stupid people with money who are willing to over pay for things that are little more than common. There probably thousands of collectors holding these coins there collections all over the world. They probably won't let go them because they don't have any ideal that someone is willing to pay anything for them. I even know dealers who hold on to world coins and won't sell them because they don't know enough about them. You keep offering to buy and they just won't let go.
A while ago, I spent a month in Belize (the current name for Br. Honduras). None of the coins or paper money I got were worth keeping. I think even that coin that realized $46 shows discoloration from the environment--and possible cleaning. That said, Joe's coins are quite nice!
I'd pay $3 for the 1973 Belize 5 cents; did you look at the reverse closely? IF it's for sale I'll send my $3 check.
Kurt, reverse looks like some sort of 'ejection doubling'(?); or maybe 'die polishing'(?); would need to examine in person. Probably nothing but one always looks.
Yeah--I noticed something odd about the "S" in CENTS, and the beading in the center seems to change shape around the circle. Perhaps it's MD or a doubled die--it's worth a closer look!
That's good to know. I got this one for about 16 cents from my LCS 'junk' foreign bin: 1930 Nicaragua 5 Centavos Wondering about it's potential 'value'. It's in decent circulated condition, but I have no idea about demand and survival rates.
