Mozambique 1c 1975

tbirde56

This Unc 1975 1c , KM-90, catalogs at $225 Unc!
Anyone want one for $15? A couple multiples are available.

historygeek

Sounds like these guys were melted down during the Civil war.


http://en.wikipedia.org/wiki/History_of_Mozambique

Independence
After World War II, while many European nations were granting independence to their colonies, Portugal's dictator António de Oliveira Salazar clung to the concept that Mozambique and other Portuguese possessions were overseas provinces of the mother country, and emigration to the colonies soared (Mozambique's Portuguese population was about 250,000 in 1975). The drive for Mozambican independence developed apace, and in 1962 several anti-colonial political groups formed the Front for the Liberation of Mozambique (FRELIMO), which initiated an armed campaign against Portuguese colonial rule in September 1964. After 10 years of sporadic warfare and Portugal's return to democracy (partially as a result of the expenses from the wars in Angola and Mozambique), Mozambique became independent on June 25, 1975. Democracy however had no roots at all in Mozambique. FRELIMO quickly established a one-party Marxist state and outlawed rival political activity.


Civil War
In 1982, Renamo, sponsored by the apartheid government in South Africa launched a series of attacks on transport routes, schools and health clinics, and the country descended into civil war. In 1984, Mozambique negotiated the Nkomati Accord with PW Botha and the South African government, in which Mozambique was to expel the African National Congress in exchange for South Africa stopping support of Renamo. Mozambique complied, but South Africa reneged, and continued to supply the rebels, and the war continued. In 1986, Mozambican President Samora Machel died in an air crash in South African territory. Although unproven, many suspect the South African government of responsibility for his death. Machel was replaced by Joaquim Chissano as president.

laurentyvan

This Unc 1975 1c , KM-90, catalogs at $225 Unc!Anyone want one for $15?

tbirde, to what factor do you assign the gross difference between catalog and (apparent) market value?
Is it a scarce, under-appreciated mintage?

historygeek

Maybe a hoard was found? Or the catalogue people are on crack again, which explains all the errors and typos in the most recent edition.

spoon

Neat!

Are those really that scarce? I've spotted coins from this series on ebay pretty regularly, usually the 1c (5 listed now), and don't recall seeing them fetch anywhere near full cat value? (yours is a good offer )

But yeah, Portuguese colonies are neat.. full of lots of really absurd and desperate history. They really screwed over Africa big time.

cladking

I've been looking for the coin for some time so it certainly isn't common. It's risky
paying strong prices on high catalog value moderns because it is still early to know
how these will shake out. Certainly Mozambiqe had a thriving turist industry in 1975
and was a popular destination. (Bob Dylan even mentions it on a 1974 album) Small,
cheap coins are often a popular souvenir for people to bring home, and this coin could
be readily afforded by many even in great quantity.

Whatever its value is, as a rule the scarcest moderns are higher denomination coins.

tbirde56

The 1975 issues were never released and may still be trickling out of the country's central bank vault. A brief review was in the Nov. '99 issue of World Coin News.
My guess is that the actual value of these can be estimated by their average going price on Ebay. Krause lists 15 million minted and it seems they pay much more attention to mail order and store-site dealers rather than online sales for their value estimates.

If anyone wants one or more of these please let me know by Saturday at the latest by PM.