This one is special... Here's the story.
richardshipp
Posts: 5,647 ✭✭✭
About 40 years ago as a young boy I found out that I really like collecting coins. I had some cent albums I would try to fill. When we would visit my Uncles house about once a month a cousin and I would walk about 2 miles up the road to the corner of Scottsdale Rd and Shea Blvd in Scottsdale, AZ and visit a little coin shop. Sure that area is in the middle of town now but back then I can assure you it wasn't. The dealer was a kind enough old guy who always let us look through the junk box and "give us a deal".
I even somehow was able to secure a 1912-s V Nickel as a part of a year set that I got out of his junk box. I had put them in a Jefferson Nickel album and had written $8 / 23 coins in the book. I only found out it was a "s" mint about 5 or 6 years ago.
Sorry, I got sidetracked as this story is not about that nickel.
Anyway as a couple of years of random visits to that shop went on I'd alway drool over the gold Saints in the guys case. I set my sights on obtaining one of these beautiful coins. At the time he said one would cost me $160. That was a lot of money for a kid but I knew that I'd have to somehow raise the cash.
I set out mowing lawns in the hot Arizona summer raising a few bucks at a time. I saved it all. I didn't buy ice cream off the truck that came by, I didn't go to the movies... nothing. I mowed lawns.... lots of lawns all summer. I told everyone that would listen that I was working to save money to buy a gold coin. During my summer visits to the coin shop I'd give the guy updates on my progress towards owning a saint. He would take the time to show me one and that just fired me up more.
The day came that I had raised my $160 and my folks took me out to my uncles place. In hindsight I have no idea why they didn't drive me to the coin shop but they didn't. My cousin and I walked up there and I announced that I was ready to buy my gold coin.
After all that I need to tell you that this story is not about a gold Saint Gaudens.
Here's what I remember...
The dealer asked me if I truly had the money so I showed him I did. He asked me to think seriously why I wanted a Saint and I said that I wanted a gold coin.
He said that IF it was gold I was after that for the same money I could purchase a Mexican 50P piece which had about 1.2 oz of gold whereas a saint had less than an oz.
He showed me a 50P coin and I immediately fell in love with it. When he went to ring up the coin we all realized that I didn't have enough money to cover the tax. The dealer thought for a moment and said for me not to worry about it. He even put it in a nice acrylic holder.
Fast forward to maybe 1981 or so and I found myself a young married father of one who was really strapped for cash. Gold had shot up in value to a shocking level. I called another dealer and he offered $1000 sight unseen for my 50P. Even though I really didn't want to sell the coin I saw no alternative. I wasn't about to borrow money from my folks. During a lunch together just prior to selling the coin I told my Dad what I was planning on doing and he reminded me of how hard I worked to get it. I told him I just didn't see any alternative. That is when he announced that instead of selling the coin to the dealer he'd like to buy it for the same price, so we shook hands and made the deal.
Now you need to fast forward to about 25 years later. The "coin" never once came up between my Dad and I during that time. Anyway one Christmas maybe 2005 or 2006 we were at my folks house in Phoenix and my parents gave me a small gift from under the tree. It felt hefty.... hmmmm. Upon opening up that gift you cannot imagine my shock as there was my 50 Peso gold coin from my childhood. I think I damn near cried. Not wanting to take it as a gift I tried to pay my parents for it but they wanted nothing to do with that. All I could do was to thank them from the bottom of my heart. It was truly a moment I will never forget.
Let's fast forward to today. You see I sent that same coin into PCGS recently as a part of my 8 coin "freebie" submission for the Collectors Club thing. I don't submit many coins and in fact put the 50P in there as a filler. The old acrylic holder was all scratched up and in my mind the coin was probably only an AU58 or something. Honestly I didn't look at it that close as I didn't really care what the grade came back as because I just wanted it in a nicer holder. I have no intention of ever selling it anyway.
Well... when the grade posted on the computer I was SHOCKED. In fact I figured there must have been some mistake so I waited until the package came today to see it with my own eyes.
No... this is not a "you suck" kind of thing as the grade likely doesn't change the value all that much I don't think and it doesn't matter as I'll not sell it. It does make it a "special coin" though in that as far as I can tell... at least to this point in time it is the only PCGS Graded Mexican 50 Peso with a "+" sign after the grade.
Anyway... just wanted to tell you the whole story behind this coin. I hope I didn't put you all to sleep or make you miss out on any "ebay threads"....
Here she is... I'll have to try to do some nice pictures later.
I even somehow was able to secure a 1912-s V Nickel as a part of a year set that I got out of his junk box. I had put them in a Jefferson Nickel album and had written $8 / 23 coins in the book. I only found out it was a "s" mint about 5 or 6 years ago.
Sorry, I got sidetracked as this story is not about that nickel.
Anyway as a couple of years of random visits to that shop went on I'd alway drool over the gold Saints in the guys case. I set my sights on obtaining one of these beautiful coins. At the time he said one would cost me $160. That was a lot of money for a kid but I knew that I'd have to somehow raise the cash.
I set out mowing lawns in the hot Arizona summer raising a few bucks at a time. I saved it all. I didn't buy ice cream off the truck that came by, I didn't go to the movies... nothing. I mowed lawns.... lots of lawns all summer. I told everyone that would listen that I was working to save money to buy a gold coin. During my summer visits to the coin shop I'd give the guy updates on my progress towards owning a saint. He would take the time to show me one and that just fired me up more.
The day came that I had raised my $160 and my folks took me out to my uncles place. In hindsight I have no idea why they didn't drive me to the coin shop but they didn't. My cousin and I walked up there and I announced that I was ready to buy my gold coin.
After all that I need to tell you that this story is not about a gold Saint Gaudens.
Here's what I remember...
The dealer asked me if I truly had the money so I showed him I did. He asked me to think seriously why I wanted a Saint and I said that I wanted a gold coin.
He said that IF it was gold I was after that for the same money I could purchase a Mexican 50P piece which had about 1.2 oz of gold whereas a saint had less than an oz.
He showed me a 50P coin and I immediately fell in love with it. When he went to ring up the coin we all realized that I didn't have enough money to cover the tax. The dealer thought for a moment and said for me not to worry about it. He even put it in a nice acrylic holder.
Fast forward to maybe 1981 or so and I found myself a young married father of one who was really strapped for cash. Gold had shot up in value to a shocking level. I called another dealer and he offered $1000 sight unseen for my 50P. Even though I really didn't want to sell the coin I saw no alternative. I wasn't about to borrow money from my folks. During a lunch together just prior to selling the coin I told my Dad what I was planning on doing and he reminded me of how hard I worked to get it. I told him I just didn't see any alternative. That is when he announced that instead of selling the coin to the dealer he'd like to buy it for the same price, so we shook hands and made the deal.
Now you need to fast forward to about 25 years later. The "coin" never once came up between my Dad and I during that time. Anyway one Christmas maybe 2005 or 2006 we were at my folks house in Phoenix and my parents gave me a small gift from under the tree. It felt hefty.... hmmmm. Upon opening up that gift you cannot imagine my shock as there was my 50 Peso gold coin from my childhood. I think I damn near cried. Not wanting to take it as a gift I tried to pay my parents for it but they wanted nothing to do with that. All I could do was to thank them from the bottom of my heart. It was truly a moment I will never forget.
Let's fast forward to today. You see I sent that same coin into PCGS recently as a part of my 8 coin "freebie" submission for the Collectors Club thing. I don't submit many coins and in fact put the 50P in there as a filler. The old acrylic holder was all scratched up and in my mind the coin was probably only an AU58 or something. Honestly I didn't look at it that close as I didn't really care what the grade came back as because I just wanted it in a nicer holder. I have no intention of ever selling it anyway.
Well... when the grade posted on the computer I was SHOCKED. In fact I figured there must have been some mistake so I waited until the package came today to see it with my own eyes.
No... this is not a "you suck" kind of thing as the grade likely doesn't change the value all that much I don't think and it doesn't matter as I'll not sell it. It does make it a "special coin" though in that as far as I can tell... at least to this point in time it is the only PCGS Graded Mexican 50 Peso with a "+" sign after the grade.
Anyway... just wanted to tell you the whole story behind this coin. I hope I didn't put you all to sleep or make you miss out on any "ebay threads"....
Here she is... I'll have to try to do some nice pictures later.
0
Comments
bob
Good story.
Great story, too!
My YouTube Channel
Congrats on the grade AND plus!!
Tom
<< <i>That is a great story. I suggest you print out a copy and keep it with the coin, and also keep a copy on the computer if you keep computer records and photos. >>
Thanks everone.
I hadn't thought of keeping a record of the coin with it but I will.
I did plan on printing it out along with the replies and sending it to my folks. They are both still around and I think it will mean a lot to them.
<< <i>Great read, great coin and awesome parents! >>
Yup!
U.S. Type Set
I also mowed lawns and mailed off the cash (!!!) to some ad place back east, then waited for agonizing days until my AG Lincolns would arrive. They were the greatest . .and the most fun I've ever had with coins!
Thanks . . .great memories.
Drunner
Maine_Jim
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Thanks for posting the coin and the story Richard.
I feel happy for you.
What a Dad.
I do miss mine.
"Inspiration exists, but it has to find you working" Pablo Picasso
They call me "Pack the Ripper"
Ron
Please visit my website Millcitynumismatics.com
The name is LEE!
Great story.A good family behind you is worth much more than gold.Terriffic coin too.Congrats on all counts.BTW your children might love to hear the story and see the coin.It just might i nspire them to seek out their own treasures. Thx for sharing.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
You are truly lucky to have such an heirloom and your parents must have been so happy to be able to return that to you.
The look on your face when you opened it must have been well worth the 25 years of waiting to give it back to you.
Hard work and dedication, family and sacrifice ... even honor ... a special story and a special coin indeed.
Thanks for sharing, even if it made me miss my Dad tonight
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Now, I am curious. Was that a legal purchase? Late date gold coins were not collectable until 1 Jan 1975, 35 years ago.
TD
-Paul
siliconvalleycoins.com
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>I definitely would have teared up. Awesome.
I would have teared up myself if I found out one of my coins received a plus.
Two times the OP stated this was not what the story was about. "While this is the point to my story, there is more" needs to be added somewhere, IMO.
Great story!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
There's still a coin shop there at Shea and Scottsdale Rd.
<< <i>That was a very interesting story.
Now, I am curious. Was that a legal purchase? Late date gold coins were not collectable until 1 Jan 1975, 35 years ago. >>
Hmmm.... Well, I don't have any records of the purchase except my memory and that of my parents so I don't know the exact dates, but it seems that the dates still kind of work out.
I said about 40 years ago I found out that I liked collecting coins.... then a couple years later started saving up for a gold one... and then after working all summer finally got enough money to buy one. Could I have been off 2 or 3 years in my recollection??? Sure but with no intent to deceive. Sorry if the dates didn't work out exactly.
I don't know if it was a "legal" purchase or not, I probably wasn't smart enough to even think to ask that question at the time.
Thanks for putting it all in context for me today.
And that coin dealer was one of the good guys too, can't forget him. It can go either of 2 ways when kids are involved, and yours was a positive experience.
Please accept my apologies. That original 40 years ago stuck in my mind and I failed to notice the passage of a few years in your excellent story. It all makes no difference now, anyway.
I made a couple of transgressions in the gold laws myself way back when.
<< <i>That was a very interesting story.
Now, I am curious. Was that a legal purchase? Late date gold coins were not collectable until 1 Jan 1975, 35 years ago. >>
Party pooper!
According to our Dennis Forgue, who started working in this location for Rarcoa back in 1968, 50 Pesos were legally bought and sold at that time. They could trade in all of the Mexican gold, the Austrian restrikes, British sovereigns (but not the Queen Elizabeth II ones), all the 20 Francs, Colombian 5 Pesos and various other coins. The new stuff like 1967 Canadian $20's and Krugerrands were not legal.
TD
According to our Dennis Forgue, who started working in this location for Rarcoa back in 1968, 50 Pesos were legally bought and sold at that time. They could trade in all of the Mexican gold, the Austrian restrikes, British sovereigns (but not the Queen Elizabeth II ones), all the 20 Francs, Colombian 5 Pesos and various other coins. The new stuff like 1967 Canadian $20's and Krugerrands were not legal.
TD>>
That is very interesting data. I thought the cutoff was pre 1934 at one point. It also seems logically inconsistent. The Canadian $20 was for collectors only and only sold as part of a set. But it was new. The prohibition of ownership pre-1934 gold certificates from 1961, when all gold backing was removed, until 1964 is another illogical prohibition.