<< <i>Interesting article... Seems a more compelling case can be made for World coins. >>
Actually I think a much more compelling case can be made for US moderns than world moderns.
World moderns are simply more sensitive to increasing demand because most never appeared in mint sets or the mint set mintages were quite small. Russian moderns especially have been on a tear despite mint set mintages of 5,000 to 30,000. Coin collecting was discouraged in the Soviet Union and most sets were sold in the US and Europe. Thesesets have had a very high attrition be- cause there was no interest in them Even ten years ago you could pick them up for a few dollars so they tended to get destroyed.
Similar things are going on with many of the coins that have exploded in price; they didn't appear in mint sets and they weren't saved at home or in the US. Some actually appeared in small num- bers in the US but the lack of interest tended to result in them gravitating to poundage where most are lost or significantly degraded. Large numbers of modern coins have been destroyed to make refrigerators or simply tossed into the garbage stream after the redemption period ended so they can be somewhat uncommon even in poor condition.
Now there are a few collectors seeking the coins who just can't find them. Coins like 1950-E East German aluminum 10p were pretty much all worn out and missing from circulation even before the entire mintage of these coins was melted in '94. Finding VF and better specimens of the early dates is very tough in the US and I'd guess it's no easier in Germany. Now a decent specimen lists at $1,300.
There's a widespread perception that US moderns are all common because they appear in mint sets but people don't realize that the attrition on these sets is simply staggering. Manyof the early sets that the coins haven't already been removed are severly damaged or ruined by corrosion. Many US moderns don't even appear in mint sets.
What makes the case for US coins compelling is that the potential demand here is huge. We are still the second largest economy in the world and have the highest standard of living. We still have, by far, the largest middle class of any country. The large mint set mintages and the existence of the coins still in circulation assures the potential for a mass market. This isn't to say a mass mar- ket is required for moderns to increase substantially, merely that unlike some of the world moderns, there are a sufficient number of coins to satisfy even a mass market. Many people would have to be satisfied with key dates and varieties in low grade but the coins exist.
I can't imagine any large market ever arising for Chinese circulating moderns since there just aren't enough coins in any grade. In theory you can buy these for a few dollars each. Good luck if you look for them, though.
Comments
Experience the World through Numismatics...it's more than you can imagine.
<< <i>Interesting article... Seems a more compelling case can be made for World coins. >>
Actually I think a much more compelling case can be made for US moderns than world moderns.
World moderns are simply more sensitive to increasing demand because most never appeared in
mint sets or the mint set mintages were quite small. Russian moderns especially have been on a
tear despite mint set mintages of 5,000 to 30,000. Coin collecting was discouraged in the Soviet
Union and most sets were sold in the US and Europe. Thesesets have had a very high attrition be-
cause there was no interest in them Even ten years ago you could pick them up for a few dollars
so they tended to get destroyed.
Similar things are going on with many of the coins that have exploded in price; they didn't appear
in mint sets and they weren't saved at home or in the US. Some actually appeared in small num-
bers in the US but the lack of interest tended to result in them gravitating to poundage where most
are lost or significantly degraded. Large numbers of modern coins have been destroyed to make
refrigerators or simply tossed into the garbage stream after the redemption period ended so they
can be somewhat uncommon even in poor condition.
Now there are a few collectors seeking the coins who just can't find them. Coins like 1950-E East
German aluminum 10p were pretty much all worn out and missing from circulation even before the
entire mintage of these coins was melted in '94. Finding VF and better specimens of the early dates
is very tough in the US and I'd guess it's no easier in Germany. Now a decent specimen lists at
$1,300.
There's a widespread perception that US moderns are all common because they appear in mint sets
but people don't realize that the attrition on these sets is simply staggering. Manyof the early sets
that the coins haven't already been removed are severly damaged or ruined by corrosion. Many US
moderns don't even appear in mint sets.
What makes the case for US coins compelling is that the potential demand here is huge. We are
still the second largest economy in the world and have the highest standard of living. We still have,
by far, the largest middle class of any country. The large mint set mintages and the existence of
the coins still in circulation assures the potential for a mass market. This isn't to say a mass mar-
ket is required for moderns to increase substantially, merely that unlike some of the world moderns,
there are a sufficient number of coins to satisfy even a mass market. Many people would have to
be satisfied with key dates and varieties in low grade but the coins exist.
I can't imagine any large market ever arising for Chinese circulating moderns since there just aren't
enough coins in any grade. In theory you can buy these for a few dollars each. Good luck if you
look for them, though.