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1930 Danzig 25Gulden - Poland

hoolmanhoolman Posts: 9
in World & Ancient Coins Forum
Can anyone tell me if I am about to make a really stupid purchase or a potentially good one.
A rep from Stanford financial got me to agree to buy a 1930 MS65 Danzig Gold coin for $3200
I would be making the purchase from an investment reasons. I got a big song and dance about the value of this coin and suddenly realized I didn't know anything about it, and couldn't find any info about it other than on Stanfords website. I said I "would" purchase it as soon as American Express sends me my check for $3500.

Anyone have any worthwhile comments for me? You guys are the pros...

Thanks

Hool

Comments

  • tbirde56tbirde56 Posts: 2,161
    The '03 Standard Catalog of World Coins estimates it at $6500 in XF and $9500 in Unc. There are an estimated 4000 in existence. It should weigh 7.9881 grams and would contain .2354 of an ounce of gold if genuine.
    I would require a certificate of authenticity from them!
    Brad Swain

    World Coin & PM Collector
    My Coin Info Pages <> My All Experts Profile
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  • hoolmanhoolman Posts: 9
    Brad
    Thanks for the info. Just not clear as to why Stanford would sell an MS65 for $3200. I know sometimes the coin values PCGS, Numismedia, list coin values a bit high. If I'm not mistaken an MS65 would be a higher quality than XF...? Thanks for the suggestion of getting a cert of authenticity.
  • tbirde56tbirde56 Posts: 2,161
    For what its worth:
    XF----- Light wear.
    MS-60 ------ Uncirculated
    MS-63 ------ Choice Uncirculated
    MS-64 ------ Select Uncirculated
    MS-65 ------ Gem Uncirculated
    MS-67 ------ Superb Uncirculated

    In reality, demand determines value. Popularity, quality and rarity of a piece often determines demand.
    As was mentioned, they would not offer it at that price if they weren't making or anticipating a good profit.
    Brad Swain

    World Coin & PM Collector
    My Coin Info Pages <> My All Experts Profile
    image
  • AskariAskari Posts: 3,713 ✭
    Welcome, Hool! I'd be very suspicious, myself. It sounds too good to be true ... even more so when you consider that the Krause prices are from when gold was a good bit lower than it is today. I know nothing about the seller, but you should do some research on them too. Was it a cold-call offer? Are there any "hooks" in the deal -- like buy this cheap but commit to buying X more offers at the price they ask? I would also ask if it has been certified MS-65 by one of the leading third-party grading services like PCGS, NGC or ANACS. (If they say it's been graded by ACG, drop the phone and run.) For that kind of money, I'd want a third opinion. I'd also see if AMEX provides the same protection for their checks as for credit card purchases.

    I would frankly be inclined to advise you to pass on it. If you cannot tell the difference between XF and MS-65, you need to learn more about it before "investing" in rare world gold coins. It's too easy to get burned. It also helps to become familiar with the types of coins you're interested in investing in before doing so. That will help you spot things like counterfeits, for instance.
    Askari



    Come on over ... to The Dark Side! image
  • JohnZJohnZ Posts: 1,732 ✭
    See my posts in your other thread.

    We ARE watching you.

    image
  • hoolmanhoolman Posts: 9
    Brad and Askari

    Thanks for the info...it helped alot. I suspect I will tell the rep "sorry" I changed my mind - to his frustration I'm sure; but for $3200 I'm willing to frustrate just about anyone. He is an account rep I've been working with who I have been buying bullion from at great prices. His prices now "stink" and so he's peddling this coin I never heard of - Danzig. Stanford is however a reputable Financial Services company. This coin is relatively rare with only 4000 known to exist and good quality in MS65 but the picture of the coin does not look like an NGC slabbed coin. I have no idea how "popular" the coin is or if it is at all. I have a rare and good quality piece of hedmon tree bark in my yard too but no one is asking me for a piece of that...
  • JohnZJohnZ Posts: 1,732 ✭
    ...so he's peddling this coin I never heard of - Danzig.

    Oooh. Major red flag. Don't ever buy a coin you know nothing about.

    A short history lesson: Danzig is the German name for the Polish city of Gdansk (remember Lech Walesa and Solidarity?) It was declared a free city in the armistice of 1919 and soon after began minting it's own coinage. High grade examples of any Danzig coins are difficult to find as they were the workhorses of the new post-WWI economy, an economy that had been devastated by the war. Almost all "good" coinage had been hoarded and replaced by emergency money known as Notgeld.

    Edited to add that even reputable dealers would have a difficult time assessing the grade and authenticity of such a coin as they are so scarce.

    We ARE watching you.

    image
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