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why wouldn't it make pre Euros more valuable?

If all of the Euro countries recalled many of their coins and currency to introduce the Euro and these will NEVER be made again, it seems to me that these older coins would be worth MORE as time goes on! Am I missing something?

Comments

  • You would think that would be the case. On the other hand, it may depend on what is done with those obselete coins. If they are sold off in bulk to dealers, then the market will be flooded with them. If they are destroyed, then the survival rates are deminished. Only time will tell. image
    Terry

    eBay Store

    DPOTD Jan 2005, Meet the Darksiders
  • spoonspoon Posts: 2,798 ✭✭✭
    More than enough already made it to dealers. Those 20kg bank bags you see often were a part of the recall effort. Considering places like Germany and France minted BILLIONS of their coins.. prices aren't going to move too far this century. Luxembourg and Finland, where mintages weren't astronomical to begin with, might see some appreciation in their pre€ values.
  • spoonspoon Posts: 2,798 ✭✭✭
    But of course, all of that is not to discourage one from collecting them.. there were some nice coins pre-euro, some ugly ones too, but... image
  • Time will tell what prices will do, but I don't collect them for the price/value going up. I collect coins because it is my hobby.
    So many coins, so little money!
    Ebay name: bhil3
  • newsmannewsman Posts: 2,658 ✭✭✭
    As spoon pointed out, the circulated coins already are making their way back into the market through the 10kg and 20kg bank bags instead of being melted. OTOH, there's a lot of price pressure on pre-Euro proof and mint sets, which makes me wonder whether the obsolete coin types are relatively scarce in mint state or whether nostalgia is driving prices up. image
  • spoonspoon Posts: 2,798 ✭✭✭
    I'm gonna haveta say nostalgia, with a lil hysteria thrown in.. at least from my observations in Germany. Now the Germans are kinda nutty with their prices as it is, so this may not be a good example, but it seems these things, from proof/mint sets to junk box bonanzas, can be easily found. Depending on where you are (a show, a shop, or the flea market) the same items might lie there forever, never selling. At shows, they can be like vultures. But overall it looks like there's a plentiful supply for every fluctuation in demand. So many of the people that buy the stuff up just do so for resale, too, that I don't see them disappearing into private hoards anytime soon. I dunno.. this is just my impression based on Germany....

    I think, to shorten all that, it's a lot like the US liteside over here at times. I tend to aim more for German States' older stuff and that crowd seems to be the crabbier older guys, so maybe my view is slanted image
    [I'm 22, btw.. just so y'all don't think I'm a crabby old guy.. crabby, maybe image ]
  • newsmannewsman Posts: 2,658 ✭✭✭


    << <i>I'm gonna haveta say nostalgia, with a lil hysteria thrown in.. at least from my observations in Germany. Now the Germans are kinda nutty with their prices as it is, so this may not be a good example, but it seems these things, from proof/mint sets to junk box bonanzas, can be easily found. Depending on where you are (a show, a shop, or the flea market) the same items might lie there forever, never selling. At shows, they can be like vultures. But overall it looks like there's a plentiful supply for every fluctuation in demand. So many of the people that buy the stuff up just do so for resale, too, that I don't see them disappearing into private hoards anytime soon. I dunno.. this is just my impression based on Germany.... >>



    You're right -- it is kinda nutty at times. But then again, I've seen French FDC sets containing coins minted in the hundreds of millions that nobody would even touch at shows sell for $50-100 on ebay these days because the sets' mintages were low while truly rare coins go begging for buyers. I bought a date run of 1960s and 1970s Vatican sets last year for basically the price of the silver in the 500 lire -- now I can't find the other dates I need for less than twice the Krause price. image

    I would like to think this is the result of the euro bringing new collectors to the hobby and not some ominous sign of a lightside-style registry craze, where people pick through mint and proof sets for the elusive top-pops to sell for big bucks. image
  • AskariAskari Posts: 3,713
    The problem is that a lot of people had that same idea -- that they'd be rare and valuable one day, so they hoarded them away. It's like back in 1964 when the US decided to go clad and people started pulling every silver coin they came across out of circulation. It will probably be the low-mintage earlier years in high grades that become most dear. (First year of issue coins get hoarded too, which is why they're not usually rare at all.)
    Askari



    Come on over ... to The Dark Side! image
  • SYRACUSIANSYRACUSIAN Posts: 6,445 ✭✭✭✭
    I think it's all been said. If you target any such coins, make sure that their mintage (and overall lack of availability) will add to their value soon; this only goes for officially packed mint state or proof sets.The rest is simply not worth the effort.
    Dimitri



    myEbay



    DPOTD 3
  • cladkingcladking Posts: 28,305 ✭✭✭✭✭
    Most coins from the latter half of the 20th century were not collected. If you don't believe it
    look at the values for Swiss mint sets since 1968. These coins tend to be superb and the vast
    majority of them appear fully struck and proof like. These sets were made in staggering numbers
    frequently they were even over 10,000 sets produced. If there were ANY serious collectors they
    would certainly buy these coins first since they are so superior to the other coins. These sets like
    their US counterparts sold for face value for years!!! Even today they are available for less than
    double face value in many cases.

    So if collectors couldn't be bothered with the gems, just how many uncs do you think were set
    aside from circulation? It's the same with our 1976 mint set. This set is the only source for su-
    perb gem examples of the most widely hoarded pre SQ modern. Still there was very little interest
    in these sets until the last few years and huge numbers have been cut up and the coins spent.

    1950-2000 coins are getting a great deal of attention from a handfull of collectors who see that
    there are numerous rarities. If demand ever becomes significant then you'd better hang on to
    your hats because there will be no stopping them.

    Throughout history small denomination coin has not been turned in in large percentages when it's
    announced that they will be demonetized. The situation in Europe is likely to be typical in this
    regard. There have been many billions of coins already melted but it's not reasonable to expect
    this will leave any rarities(perhaps some E German?). It might be remembered though that virtually
    every single one of these coins which were saved back were kicking around in circulation. There
    will be no 20 or 30 year old uncs in these. If you want an unc you have little choice in many cases
    than to buy a mint set, and these have suffered great attrition due to their absurdly low prices and
    nearly total lack of demand.


    Tempus fugit.
  • cladkingcladking Posts: 28,305 ✭✭✭✭✭
    You might also look at some of the post-1950 German 5 Marks. These were made in the millions but
    have been selling for hundreds or thousands of dollars for many years. This also applies to many other
    base metal coins from this era.

    ...and again, this all reflects a VERY anemic demand.
    Tempus fugit.
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