Your opinion on this 1930 20 Drachmai BU

laurentyvan · January 20, 2004 11:19PM

I badly want this coin but it looks like I'm in for a fight. Krause jumps from $20 in XF to $125 in UNC
with a substantial mintage of 11,500,000. Was this a "workhorse coin" with few saved in higher grades?
If the coin goes for Krause there is no way I would choose to afford it, but I don't want to give up on it either.
Is it worth stretching for?
20 Drachmai

newbiecollector · January 20, 2004 11:53PM

I don't know this coin at all but I like the scan. Hopefully someone will come on soon to give you details.

I suggest you look at the sellers feedback history close and see if you think this is what you think it is.

coinnerd · January 21, 2004 12:02AM

This is one I would want to see in person before paying BU money. It looks like some rub on the cheek. It might only be an AU. There is no return privilage and in his feed back he has a neg for a coin sold as BU then grading AU. The coin looks very nice but personally I would only pay AU money.

Shipcoin · January 21, 2004 12:08AM

Cool shipcoin, Laurent, the only one that I haven't from Greece (I mean from Greece's shipcoins) and it is already for a long time in my "wants", but taking into account the prices, that you have mentioned here, I thought only about VF or VF+ sample. And as far, as I know, some local dealers could get it in VF-XF condition.

Edited to add: and as for your question I agree with Coinnerd! And for more details about the coin we should ask Dimitri, I think

XpipedreamR · January 21, 2004 12:14AM

If there is no return, I would avoid it, unless you can get it for a few bucks over what it's selling at now. I wouldn't pay more than a nice AU price because you can't tell that it's not AU.

cosmicdebris · January 21, 2004 12:16AM

This is definately one to be careful on. I say bid the max you can afford up to AU money and keep your fingers crossed.

farthing · January 21, 2004 12:40AM

I agree with the others - no better than an AU, especially with an all sales final provision.

I need to add that I really like the design!

laurentyvan · January 21, 2004 12:48AM

You guys have expressed my doubts and misgivings precisely! I am comfortable in the $25-$30, maybe even $35 to $40; after that, I drop out. Thanks.

1jester · January 21, 2004 1:29AM

I agree that it's not BU. Although it's a nice design!

satootoko · January 21, 2004 1:38AM

In addition to what everyone else has said, I notice that the coin is "Guaranteed genuine", but there is a disclaimer of grading expertise, so as long as it's XF or better he can claim that the BU grade was his "honest opinion", no matter how obviously the coin in hand might fall short.

Lloyd · January 21, 2004 2:43AM

I haven't even bothered to look at the auction but that coin is not B and it isn't U. It's grubby with wear. Do you want a coin that's grubby with wear? You would be the highest bidder on a coin which everyone will find problems with when it's time to liquidate.

Let's all get on the same boat now and decide something. BU means Brilliant Uncirculated. This means that not only does the coin show ZERO handling wear, it also APPEARS to be unc and it shows FULL MINT LUSTRE. If anyone disagrees with this please post to this thread stating why.

Now if this were such a coin you would pay MORE than book because it is a rarity in itself. AS STRUCK... MINT STATE (no number).

I would also say something else. If the coin is only $125 in UNC it can't be that difficult. I know nothing about this coin but I bet you could get 50 like this in the next month or so.

NO EDGE

L

cladking · January 21, 2004 2:49AM

This coin is almost only seen with extreme wear. XF's and AU's are VERY scarce. BU's
do exist and aren't extremely rare but will usually bring strong money.

SYRACUSIAN · January 21, 2004 2:50AM

The coin is AU ; you can't lie with this one, the cheek always shows some wear. Nevertheless,it's still scarce even in AU condition and will probably sell above $100 imho. If it was a real gem BU, I would easily pay $250 for it. (my own specimen is an MS62)

Very popular coin, debased silver .500 and the first coins of the Hellenic Republic in 1926-1930 that followed a temporary abolition of the monarchy, inspired by a Macedonian tetradrachm that was itself commemorating a victorious naval battle against Egypt in 253 BC.Percy Metcalf engraved Poseidon's head on the obverse and Langford Jones the ancient ship of the reverse. Minted in London, heavily hoarded during the depression, but not in collectable grades. Greece did not mint coins after that , until 1954, when the drachma got a steady exchange rate with the dollar ($1=30 drs) that lasted until 1973.

Lloyd · January 21, 2004 2:51AM

I just had a look at the auction. The guy uses the GEM word

Lloyd · January 21, 2004 2:53AM

Dimitri - whats that coin worth to a collector?

L

SYRACUSIAN · January 21, 2004 2:58AM

You mean its value in this condition? Are we talking USD or real money?

I guess that it should fetch around 100 Monopoly dollars.

One of the bidders is a deadbeat and still owes me 500 euros

Lloyd · January 21, 2004 3:01AM

<< <i>You mean its value in this condition? Are we talking USD or real money?

I guess that it should fetch around 100 Monopoly dollars.

One of the bidders is a deadbeat and still owes me 500 euros

>>

Mail the seller so he can get his bids cancelled - all in the Laurent cause.

Laurent..... Looks like an auto snipe for $101.03

L

laurentyvan · January 21, 2004 3:06AM

No arguments here Lloyd. I would have bought it for $20-25 as an XF without hesitation-I would have stretched for AU a little but I do agree with yours and previous comments. As time passes my eye will sharpen up-I tend to be too trusting in a coins appearance.

Edited to add: Oh, the wind has changed, has it?

If greece was a specialty I would go after it, no problem. I wanted it for it's own sake, as a beautiful coin that caught my eye, not as part of a date run or type set. Therefor, unless it stays close to where it is, and from comments made I don't think it will, I will probably not be adding this coin to my collection.

Lloyd · January 21, 2004 3:14AM

Laurent
I reckon a positive decision was made above. I didn't know the REAL value of the coin but I do now. All I knew was what it wasn't, ie GEM BU. If you want the coin badly as stated in the first line of the thread I would go with an expert valuation from a specialist. There are British coins listed in Krause for $100 which I would give $500 for - and vice versa. We have a lot of experts here in specialized categories don't we.

The $101.03 was a serious comment, although I would still baulk at dealing with this guy if he was giving stuff away.

L

CIVITAS · January 21, 2004 5:55AM

Looks like a slider to me. Not quite UNC. Take what Dimitri said, and add to the fact that modern Greek coinage is pretty hot, and you can pretty much throw book value out the window. 8 bids with 5 days left to go? I'm jumping on the $100.00+ bandwagon.

Funny thing is, you could buy an ancient bronze coin with similiar obverse and reverse motifs for about the same price or less.

Lloyd · January 21, 2004 6:29AM

<< <i>Funny thing is, you could buy an ancient bronze coin with similiar obverse and reverse motifs for about the same price or less.

>>

Really Josh? Now where could I go to fill me boots with those beauties .....

L

CIVITAS · January 21, 2004 8:55AM

Not me. I'm all sold out at the moment.

Delane Hewitt has a nice one though:

http://www.vcoins.com/realms/store/viewItem.asp?idProduct=340&large=0

If you really want one, I might be able to dig one up (not literally) for less. His price is pretty fair though.

Your opinion on this 1930 20 Drachmai BU

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