This coin is neither in the numista catalogue nor in NGC world coin catalogue

I've never really looked there before but started perusing today. It's amazing(scary) what "coins" they have on there.

 

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Not really. I would not buy it, simply because I focus on pieces that circulate(d). Pieces like this one, however, are made for collectors only, and have hardly anything to do with the country that, at least officially, issue them. But if one likes the theme or design ...

Issuers such as Palau, Liberia or Niue release dozens of collector coins every year. It is hard or even impossible for catalog authors/sites to keep track.

As for "bullion", while there is no generally accepted definition of the term, a bullion coin is - in my opinion - a PM (silver, gold, etc.) piece with a mintage according to demand. Also, its price is primarily determined by the value of the metal content.

Christian

 

The definition of a bullion coin has nothing to do with mintage or demand. The marketplace establishes "demand" after it sees the coin's design and its price.

Bullion coins, in my opinion, have several characteristics in common: a standard weight, fineness of 0.925 or greater, and a perception that the coin is not a commemorative.

True bullion coins, like ASE's, Maple Leafs, Britannias, Philharmonics, etc., meet these criteria. Sophisticated marketing attempts to convince collectors that pieces with some kind of commemorative slant constitute numismatic coins.

 

Whoops. Seems as though I opened a can of worms by calling it bullion. My bad all...

 

As I wrote, there is no generally accepted definition of the term. The Austrian Philharmonics pieces, for example, are produced according to demand, without any predetermined volume limit, and sold at a price that is close to the silver/gold price of the day of purchase.

Now it would be interesting to know what the issue price of that Palau piece was. But I doubt it was sold at the price of two ounces of silver. I agree with the criteria you listed in the second paragraph. And if the "established" price of the coin gets close to its intrinsic value, I may consider it to be bullion. Until then ...

Christian

 

Nah, no worms here. It's just that, bullion or not, it should be listed by a coin catalog or site. After all, it is a coin in the sense that the government of Palau OK'd the issue. Problem is that some countries/territories issue so many different coins that it is extremely hard to keep track of them ...

Christian

 

Well let me send it to PCG India, let's see what they do with this.... "JUNK"

 

Ummm nobody here ever called it junk...
Where did you buy it from out of curiosity?

 

For the OP, maybe not familiar with U.S. terminology, "junk silver" refers to circulated 90% dimes, quarters, and half dollars; it's just a term of convenience, and does not apply to your Palau coin. The terminology has been around for decades, and I am happy to own junk silver, it's my PM of choice...

 

Just got it from ebay,
If PCG is not rating it, then I will throw it in the dust bin,
that would be a better place.

This coin is only made for collectors, especially fantasy coin collectors.
This are just made by private companies,
and I think it has no numismatic value.

 

I wouldn't go so far as to throw it away...

 

I believe many of the small countries contract the official mints of larger countries to stamp their coins. I wouldn't be throwing the coin away. If you like the design, that's all that matters.

I have many silver bullion pieces which I bought because the design was interesting to me. I know I paid more for the silver than had I purchased one of the common bullion pieces (ASE, Maple Leaf's, Panda's, etc...), but at the end of the day, I don't care.

What might be helpful is for you to define your goal in purchasing coins. Are you looking to buy them to diversify your portfolio into PM? If that's the case, I would stick with either ASE's or Maple Leafs (depending on where you live). If you're buying them to collect, than buy what you like.

 

The Palau coin was minted by the New Zealand Mint - the APMEX blurb says so. The coin contains $35+ worth of silver, I wouldn't throw it away! If you don't like it, you might try selling it to APMEX, hopefully not more than a 25% loss; depends if you have the wooden box, paperwork, etc.

 

Well I got it for $8,
got it cheap anyway.

 

For $8, your coin must have originally come from Alibaba. I looked at 40+ recently-completed purchases on eBay, ranging from $178 to $283.

 

If you bought it for $8 I highly doubt that it is real sorry to say.

 

Well I gave it to a jeweler he said me that it is not fake,
So it's not a matter of fake or not

 

Problem solved, then -- sell it to the jeweler.

 

Lots of countries do not have "their own" mints or paper money printing works, and have their cash produced elsewhere. In cases like this one, the "coins" hardly ever reach the issuing country. Some company suggests some theme to some country, and once it has the OK from that government, they have them minted and sell them ...

Agreed. Trying to find out more about a coin is hardly ever a bad idea but trashing it sounds way too harsh to me.

Christian