Anyone go coin shopping for U.S. coins in a foreign country?
abcde12345
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Whether on vacation or business, ever coin shop in a foreign country and if so did you get a good deal on a United States collectible coin?
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abcde12345
Posts: 3,404 ✭✭✭✭✭
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Italy. Gold. Decent prices for raw material, but a lot of polished / cleaned material, so it helps to know your stuff. Bought two pieces, both straight graded here. Had to look at a bunch to find those two tho.....
Often
Here are a few threads I did in 2014/2015 when I first moved to Europe
https://forums.collectors.com/discussion/913353/an-idiot-abroad-geneva
https://forums.collectors.com/discussion/913016/an-idiot-abroad-coin-hunting-in-europe-london
https://forums.collectors.com/discussion/920279/an-idiot-abroad-3-paris
https://forums.collectors.com/discussion/938313/an-idiot-abroad-barcelona-day-1
Latin American Collection
A number of years ago a coworker returned from a business/pleasure trip to Hong Kong with small gifts for everyone in the office. It was a very nice gesture.
He was very pleased with what he'd found for me, as he knew I collected coins.
I could tell from the sound of the pot metal in his hands as he jingled the two large Chinese Yuan (dollars) that I was in an awkward situation. I thanked him for his gracious gesture and admired them greatly. Indeed they were quite shiny!
I still have those two faux coins and think of him whenever I look at them.
There is lots of good stuff lurking out there, but a LOT is polished. I posted before about finding some gorgeous AU cents from the teens (probably brought over in WW1) at a little shop in rural England (my parents lived in London for several years), getting lots of old US currency (Silver and Gold notes, Hawaii and North Africa notes) while stationed in Korea (they did not want the old US notes, wanted new ones, paid a premium for new notes), and buying US coins at less than face at a little shop (coins, electrical appliances, sewing supplies) in the Azores, all of which were sea air damaged, but spent fine back in the US.
There was a lot at a street fair in Paris, but all was polished, overpriced US silver. The prices reflected silver at $50 an ounce, although it was no where near that anymore.
I hit every coin shop in Moscow in 2004. Most US coins were more modern and priced through to the moon. I did find 1 coin, a really nice AU 14-S Buffalo Nickel for a measly $30! There was a worn out 1916 beside it for the same price!
The challenge in finding US coinage elsewhere - especially coins that members of this forum are going to like - is that there is limited evidence of US coin collecting outside the US above a nominal price level.
The primary reason? US coins are a lot more expensive than those everywhere else and are not competitive for the local collector's money. TPG grading makes it worse because most collectors elsewhere don't buy coins as alternatives to other asset classes and don't find the quality differences in the better TPG grades meaningful enough to pay market value for it.
In European auctions, I have occasionally seen US classics such as early large cents, bust dollars, seated coinage, etc. but it's as Boosibri described. Only very occasionally better slabbed but still common material. On dealer websites, similar to what @amwldcoin describes.
I was in Spain over xmas and hit a coin shop by our hotel in Barcelona, they had a peace dollar, probably a $20 one here, was asking over 50 euro for it...got this for the same instead.
My last 3 trips to Finland I visited the local coin shop. The US stuff was grossly overpriced, so there it stayed. But I did end up buying some nice Russian and Finnish coins.
"You Suck Award" - February, 2015
Discoverer of 1919 Mercury Dime DDO - FS-101
No, but I did see some US coins for sale in a Venice Italy coin shop on San Marco's square long ago.
Several months ago I visited Italy and found a jar of weat pennies and Indian head pennies at an Antique shop.
you will pay through the nose buying in Europe.
First because the tax is included in the price by law in most European countries (usually around 20%.
second because they take "the book price, whatever book) and usually pick the highest price listed in the book to determine their asking price. Everything is 'Rare'...
Also, cleaning any way is very rampant and usually accepted . The French and Italians are masters in gauging!
I used to(15-30 years ago, recently much less) go to Europe 2-4 times a month, also took part in Auctions there and met many coin shop owners personally. have made some of the most interesting and incredible buys there.
But these days are "mostly" over. The internet took care of that.
Your best bet is to find small private dealers in small towns.....or, please lough hard, smaller bank branches in small towns asking for old local coinage. you must ask for the Manager and let them know that you pay bonuses. most have "secret" drawers with oddities in them. back then, often a lunch was all that was needed. AND they have information about local collectors.
Good luck... my secrets are out now......it worked well for me.... then.
Picked up some junk silver at the Covent Garden Antiques Fair - if you call Barbers junk. Otherwise mots US is wildly overpriced and / or cleaned. If you collect darkside however, there are good deals to be had as what we consider "old" is pretty new to them.
There are always US coins for sale here in New Zealand on our local (and superior) version of eBay. Most are ridiculously over-priced but I ocassionally find a bargain. There are also heaps of counterfeits for sale (which I regularly report).
Smitten with DBLCs.
There are some cherrypick opportunities available. Just last year someone scored a special strike 1933-S WLH.....
8 Reales Madness Collection
I have bought several interesting coins overseas outside of auctions...
If I recall a 52-D $5 that went P50, a 79-CC $20 in 55, 55-O $10 in 45, 70-S $5 in 45, 15-S $10 for $2,000 which went 62 and sold for $15k, a Pan-Pac $2.5 in P66? OGH for like $1000. All but the 55-O $10 CAC'd.
VAT as noted is NOT in the price of the coin. It is charged on top of the buyers premium at auction but is not included in the price of the coin.
Latin American Collection