Strange Brew: Oddball U.S. bullion-y...stuff
Weiss
Posts: 9,942 ✭✭✭✭✭
As a box of 20 collector, my actual coin collection is limited to 20 pieces--in theory.
But I rationalize myself a pass on pieces that are substantially bullion. A BU 1916-D merc wouldn't count. But the new palladium piece with Weinman's merc design does.
Here are a couple of other pieces that fit loosely into that "kind of bullion" category.
Got anything similar? Specifically American in origin. American Arts Medallions, mint medals in precious metals, etc.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame
--Severian the Lame
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Comments
Love that first one. Let me know if it's ever for sale
Fascinating story behind the Saudi coin. Saudi's would not take paper, Brits didn't have enough Sovereigns without Vickie's image on them as she ruled for so long. Saudi's would not accept coins with a woman's image on them. U S mint had to step in and make those to cover the difference. Saudi's knew better than to accept paper. I will leave it to the real experts to fill in the details.
I want a Saudi one very bad, been looking for years......Yours looks super nice!!
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC
They are cool pieces, especially the top two
They made a lot of them but most were melted in the early 1950's when Saudi Arabia started minting their own gold coins. They contain the exact same gold as four British sovereigns (both weight and fineness) so they have close to a full ounce of gold. There is also a smaller version that is the same as one British sovereign. They are popular with both collectors of US gold coins and collectors of world gold coins so demand is fairly high in relation to their low supply. They are available on eBay so do a search for "Saudi Arabia 4 pounds gold disc ARAMCO" and you can find them. ARAMCO is the name of the group of four large US oil companies and Saudi Arabia that put together a deal to develop the Saudi oil fields and stands for Arab American oil company. This group had the backing of the US government because there was a severe world wide shortage of oil because the oil production infrastructure in Europe and Asia was destroyed during WWII and oil was needed to rebuild Europe and Asia. As a result of this critical need for oil the US State Department pulled the necessary strings to sell this group gold from the US gold reserves and made the arrangements with the US Mint to coin them into gold discs. As word of caution, there are many counterfeits so buy only coins slabbed by one of the major grading services.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
What @PerryHall said. Aramco has been in the news a bunch lately as the Saudi government is trying to launch the IPO at $2 trillion!
I think the Aramco pieces look A LOT like the Moffat-Humbert / US Assay Office territorial pieces for 1/10th of the price. Fits the "kind of bullion" rationalization, too: I paid about 25% over its melt value, IIRC, back in September of last year. I think it was a steal at that price. I sure wish the Red Book would list them.
--Severian the Lame
Apmex has an NGC61 for about $3300 if you want to pay that much.
I bought a PCGS MS-61 off eBay a few weeks ago for $2700. Weiss did it the right way---look for a nice slabbed AU58 and save yourself some money.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
To me, this is the coolest item produced by the US Mint in the 20th century. The history in geopolitics, the cool factor associated with it being an ingot, it just adds up to an awesome piece.
thanks, I guess I should have said.......I have wanted one for years at a reasonable price and ms if I can find
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC
Just passing on info. Apmex is way too fond of their coins for me.
The "usual story" is almost entirely incorrect. Reality is much more interesting. when I can get the $$ to publish what occurred and why, collectors will probably be surprised.
PS: There are likely more counterfeits than real ones for both 1 pound and 4 pound discs.
I would love to see that. Keep us posted, that would be a great read.
@RogerB, any pickups on the genuine vs. counterfeit pieces?
I don't have a solid list of points for all -- just some. The ANA counterfeit bulletins point out several things. With a design this simple, counterfeiting was inevitable soon after the pieces were received in Jeddah. Look for a slabbed example. These things did not circulate like coins.
I'd been eyeing them for a while. Then Heritage had four pieces--a 1-pound and three 4-pounds--in one auction. The 1-pound went first, followed by the 4-pounds graded 62, 61, and this 58. Figured the 58 would be the red headed stepchild vs. the "nicer" ones and that's what happened. This one closed at about 25% less than the 61 and 40% less than the 62. But really, the grades seemed almost random. Anyway, the idea of getting one with a little history smeared on it seemed more appealing. Looking forward to @RogerB 's info when he can get it published. Not often you see a piece that witnessed history 70-something years ago and is still front page relevant today.
--Severian the Lame
Here's the cover:
Thought it was this.
Some very nice coins.
Hoard the keys.
Sweet, thank you for sharing !!!
I'm definitely looking forward to this one!
@Weiss.... Very nice pieces... I am not a palladium collector, but I really like the reverse design on that piece.....
@RogerB... I look forward to the 'real story' on the gold ingots. Cheers, RickO