What's the story behind these (Canadian 1921 half and 5 cent pieces in MS65)?

Steve27 · September 28, 2004 11:22PM

Link to Canadian coin auction, starting bid $248,000

tripoli · September 29, 2004 2:58AM

Extremely rare because most of the production was melted down....partly due to the introduction of the
nickel (not silver) 5 cent piece at the same time. Very few exist, let alone in MS 65 condition.

Askari · September 30, 2004 1:13PM

Sorry I don't have a quarter million free at the moment ... not even in Canadian $.

shirohniichan · September 30, 2004 3:44PM

The reason most of the 1921 50 cent pieces were melted down was because there wasn't much demand for them at the time. When demand for 50 cent pieces rose in 1929, the RCM decided not to release all the 1920 and 1921 coins in stock because they thought the old coins with a new appearance might make people think they were counterfeit. They decided to melt the "old" coins from 8 years prior and strike new coins.

Steve27 · September 30, 2004 7:22PM

Thanks for the info, but does that $248K price seem just a tad high?

docday2003 · September 30, 2004 10:10PM

<< <i>Thanks for the info, but does that $248K price seem just a tad high? >>

In my opinion the coins are overpriced. The last high grade 1921 50¢ that I saw transacted at the CNA in Vancouver, July 2002. The coin was ICG MS65, and was attractive. It sold for $95000+bp 10%. The last high grade 1921 5¢ was PCGS MS66, from the Mason collection, and it sold for $70000+bp. Note, however, that that example has considered by many to be the actual finest example of the date. The Belzberg example, also PCGS MS66 sold for $27,600 US (Currently about $35000 CDN). Note as well that there are 4 examples graded at MS66. The one for sale is MS65.

docday2003 · September 30, 2004 10:17PM

By the way the date of the above-mentioned sale of the 1921 5¢ is Feb 2003.

docday2003 · October 1, 2004 11:08PM

by the way, recently I was offered a 1921 5¢ PCGS MS63 for under $10000.00....

MyWorldCoinTypeSet · October 2, 2004 12:04AM

by the way, recently I was offered a 1921 5¢ PCGS MS63 for under $10000.00....

Provided the grading is accurate, there's a lot of difference between MS63 and MS65.

docday2003 · October 2, 2004 3:11AM

<< <i>by the way, recently I was offered a 1921 5¢ PCGS MS63 for under $10000.00....

Provided the grading is accurate, there's a lot of difference between MS63 and MS65. >>

I agree wholeheartedly, my point was that there are other coins out there...4 in MS66, etc, and that I wouldn't pay the asking price for a MS65 coin when there are other options. If you are plugging a hole, while waiting for a MS66, then you can plug it cheaper....

MyWorldCoinTypeSet · October 2, 2004 3:26AM

I agree wholeheartedly, my point was that there are other coins out there...4 in MS66, etc, and that I wouldn't pay the asking price for a MS65 coin when there are other options. If you are plugging a hole, while waiting for a MS66, then you can plug it cheaper....

Agreed. You waiting for a 66?

shirohniichan · October 2, 2004 6:09AM

<< <i>by the way, recently I was offered a 1921 5¢ PCGS MS63 for under $10000.00....

Provided the grading is accurate, there's a lot of difference between MS63 and MS65. >>

If anyone has a 1921 5 cents in AU-58 (either ICCS or PCGS... or ANACS or NGC, for that matter) for $195 or less, I'm in the market.

docday2003 · October 2, 2004 7:02AM

<< <i>I agree wholeheartedly, my point was that there are other coins out there...4 in MS66, etc, and that I wouldn't pay the asking price for a MS65 coin when there are other options. If you are plugging a hole, while waiting for a MS66, then you can plug it cheaper....

Agreed. You waiting for a 66? >>

Yup

What's the story behind these (Canadian 1921 half and 5 cent pieces in MS65)?

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