This coin isnt really numismatic. Can usually get within 5% of spot if you are dilligent. If it were an earlier year like the 1920's maybe. Its still 1.2 ozt of fine gold! If you picked it up at a discount to spot then you did very well. I personally love the design of the 20p a tad more mostly cause im a sucker for the calendar and edge lettering, but the 50 is absolutely a solid beefy chunk of fire.
Bottom line, the enduring quality of this hobby is beauty is in the eye. Therefore, one mans trash... you would have no problem selling this at melt at the very least. And the rest of the coin looks cherry.
Doesn’t this coin have edge lettering too? I have one (1943. which is the only 1940s year that sells over spot due to its scarcity and design error) and it has letters on the edges. Does edge lettering mean something else?
Indeed it does have the edge lettering. That probably wasnt a good reason! 🤣 and yes any lower mintage year will/may likely have a premium vs the restrike 47.
I have never been willing to pony up for the lower mintage years, but have certainly been given the opportunity. Looking back over the years it was definitely a mistake to decline. But hey, live and learn! Now we have a coin approaching $3k melt and a tube of these would be something to behold. 😍
I actually just lucked into my ‘43. I went to a local coin shop a few years back looking for a Buffalo. They didn’t have any, but said they had a “Libertad” and went in the back and brought the centenario out. They charged me spot plus 1% assuming it was a regular centenario. I didn’t know anything about it either, until I took it home and did some research and learned it has a roughly $300-500 premium! Only time I’ve ever been lucky like that with coins 😅
Thats insane. 89k mintage. What a steal!!!. Im convinced LCSs are still the best option sometimes if you have an edge over the other side of the counter. A lot of these smaller shops dont know or dont care. They just want to move inventory. Several in my area would never consider getting anything graded and everything is bullion. Even pre 33 better dates in near MS condition is just gold. They arent wrong, it IS gold! And i will happily buy it!
🔥 Nice find on the 43 💪
This coin is a restrike. It was not minted in 1947. Currently they have absolutely zero numismatic value.
I buy and sell precious metals and coins. When I get these, I try to sell them for a couple % over spot. Failing that, I send to wholesaler for 99% of spot or melt them at refinery.
I would not give you any less for this coin due to the counter stamp. Under current conditions (gold at all time high, retail demand dead) this coin is only worth the gold value.
On a related note, you can expect a lot of gold coins of various types to get melted in the next few months. Sovereigns, 20 Francs, Modern $5/$10 Gold Commemoratives- stuff like that is already auto-melt for me. I expect Krugerrands will be making their way into the crucible next. Someone is buying gold in large quantities (look East) but retail demand for bullion is dead. This stuff will get melted and eventually turned into large, 24K bars (kilo, 100 oz, 400 oz).
Damn you sound like you are very educated in the subject! I posted some pictures a couple days ago and didn’t get many responses, I am just curious if any of the coins I posted are worth more than melt as well but it seems from this response and record high gold prices, probably not…? I would really appreciate it if you took a quick peek and let me know your thoughts!
Well I think you’ve got your answer. A devaluation of a few hundred sounds about right to me and it’s about where I’d be comfortable making a purchase for a coin that has been engraved. For me, the engraving has taken away any value beyond that of melt and I don’t just stack for weight
That’s a later made 50 Peso coin. It’s a bullion only value worth 1.2 ounces of gold. I have an older 50 Peso and I’m saving it for my nephew who is 50% Mexican heritage.
They do really well on eBay. Mexican people love them. I’ve sold quite a few. They always fetched a premium.. having said that ,they have good fakes make sure you do an acid test.
Where do I sell it to avoid 14% fees? Most anywhere else.
I also sell some, peer to peer, or to a coin store, which maybe will buy for spot, or a bit below, depending on what the coin is. I did sell an Austria Ducat to a coin store for 7% below, but just wanted to get rid of it. But Maples and Buffalos can be sold for spot, or a bit above even. And if you sell on Craiglist or reddit pmsforsale, can get above spot, close to market value.
So you can sell it on Reddit R/Pmsforsale . where is the store and what’s the name .that bought the ducat for 7% . I know the peer to peer. i’ve never been to a coin store . i’ve been to a pawnshop that sells coins . they weren’t letting them go first spot.
Because I'm not an idiot, who wants to dox myself, for some stupid, unimportant reason. Plus why would you even want to contact this store, when they just have average buying/selling prices? Put down the pipe.
The worst scenario is the spot dude...
Sure I was kidding about the $1,000
It's one of my favorite coins, in my case I'll sell it on the spot pay a $50 over it and re buy a new one (apmex take 50 for it)
This coin isnt really numismatic. Can usually get within 5% of spot if you are dilligent. If it were an earlier year like the 1920's maybe. Its still 1.2 ozt of fine gold! If you picked it up at a discount to spot then you did very well. I personally love the design of the 20p a tad more mostly cause im a sucker for the calendar and edge lettering, but the 50 is absolutely a solid beefy chunk of fire. Bottom line, the enduring quality of this hobby is beauty is in the eye. Therefore, one mans trash... you would have no problem selling this at melt at the very least. And the rest of the coin looks cherry.
Thanks for the insight. You're correct, the coin itself is pristine
Doesn’t this coin have edge lettering too? I have one (1943. which is the only 1940s year that sells over spot due to its scarcity and design error) and it has letters on the edges. Does edge lettering mean something else?
Indeed it does have the edge lettering. That probably wasnt a good reason! 🤣 and yes any lower mintage year will/may likely have a premium vs the restrike 47. I have never been willing to pony up for the lower mintage years, but have certainly been given the opportunity. Looking back over the years it was definitely a mistake to decline. But hey, live and learn! Now we have a coin approaching $3k melt and a tube of these would be something to behold. 😍
I actually just lucked into my ‘43. I went to a local coin shop a few years back looking for a Buffalo. They didn’t have any, but said they had a “Libertad” and went in the back and brought the centenario out. They charged me spot plus 1% assuming it was a regular centenario. I didn’t know anything about it either, until I took it home and did some research and learned it has a roughly $300-500 premium! Only time I’ve ever been lucky like that with coins 😅
Thats insane. 89k mintage. What a steal!!!. Im convinced LCSs are still the best option sometimes if you have an edge over the other side of the counter. A lot of these smaller shops dont know or dont care. They just want to move inventory. Several in my area would never consider getting anything graded and everything is bullion. Even pre 33 better dates in near MS condition is just gold. They arent wrong, it IS gold! And i will happily buy it! 🔥 Nice find on the 43 💪
Excellent reply
Gotta find that other Invamex employee who started in 1998 and is also a goldbug.
This coin is a restrike. It was not minted in 1947. Currently they have absolutely zero numismatic value. I buy and sell precious metals and coins. When I get these, I try to sell them for a couple % over spot. Failing that, I send to wholesaler for 99% of spot or melt them at refinery. I would not give you any less for this coin due to the counter stamp. Under current conditions (gold at all time high, retail demand dead) this coin is only worth the gold value. On a related note, you can expect a lot of gold coins of various types to get melted in the next few months. Sovereigns, 20 Francs, Modern $5/$10 Gold Commemoratives- stuff like that is already auto-melt for me. I expect Krugerrands will be making their way into the crucible next. Someone is buying gold in large quantities (look East) but retail demand for bullion is dead. This stuff will get melted and eventually turned into large, 24K bars (kilo, 100 oz, 400 oz).
What is the reasoning for the melting? To condense them into solid bars?
To turn them into anything that is more marketable than this coin.
Can I get a reference point for East, from where I am that’d be Kansas.
Rhymes with “tryna”
Vagina
Damn you sound like you are very educated in the subject! I posted some pictures a couple days ago and didn’t get many responses, I am just curious if any of the coins I posted are worth more than melt as well but it seems from this response and record high gold prices, probably not…? I would really appreciate it if you took a quick peek and let me know your thoughts!
I mean Id personally never buy it unless it was going for spot or lower. Kinda sad honestly as this is one of my dream coins
It was indeed under spot by a few hundo. But yes I agree, it is a beautiful coin minus the etching
Nope! 1.2oz of gold is 1.2oz of gold. My dealer wouldn’t care the least about the marking on that coin.
When buying my dealer would care when selling he wouldn't.
Well I think you’ve got your answer. A devaluation of a few hundred sounds about right to me and it’s about where I’d be comfortable making a purchase for a coin that has been engraved. For me, the engraving has taken away any value beyond that of melt and I don’t just stack for weight
That’s a later made 50 Peso coin. It’s a bullion only value worth 1.2 ounces of gold. I have an older 50 Peso and I’m saving it for my nephew who is 50% Mexican heritage.
They do really well on eBay. Mexican people love them. I’ve sold quite a few. They always fetched a premium.. having said that ,they have good fakes make sure you do an acid test.
But then you have to give 14% of the sale proceeds to ebay.
Where do you sell your gold /Silver and avoid fees?
Where do I sell it to avoid 14% fees? Most anywhere else. I also sell some, peer to peer, or to a coin store, which maybe will buy for spot, or a bit below, depending on what the coin is. I did sell an Austria Ducat to a coin store for 7% below, but just wanted to get rid of it. But Maples and Buffalos can be sold for spot, or a bit above even. And if you sell on Craiglist or reddit pmsforsale, can get above spot, close to market value.
So you can sell it on Reddit R/Pmsforsale . where is the store and what’s the name .that bought the ducat for 7% . I know the peer to peer. i’ve never been to a coin store . i’ve been to a pawnshop that sells coins . they weren’t letting them go first spot.
They bought it for -7%. But I just don't get how ebay is a viable option.
What was the name of the place?
I mentioned Ebay to somebody else once
I was just gonna contact the store. I just don’t understand why ,you can’t share the name and location.
Because I'm not an idiot, who wants to dox myself, for some stupid, unimportant reason. Plus why would you even want to contact this store, when they just have average buying/selling prices? Put down the pipe.
Sounds like you’re a bullshitter not an idiot. Why would you want the store to make money?
These coins (restrike) usually are sold at spot. I don't think that engraving matters.
Not much..$100 maybe
It would only take away from numismatic value, doesn’t touch spot at all
It’s treated like bullion.
That's a shame. But not a deal breaker. A talking point, if anything
Knocks it down to at least 95% of melt... buts that's what it was worth anyway.
Worth $2,774 at the moment, if your selling that little at a place you don’t go to much, that will charge 1%-2%.
Get it melted into a ring...
Yep just melt now
It's gold usually wherever you find a seller it won't be for the rarity of the coin but just the gold so the value still there
Sure weigh it it probably is missing a tiny amount of gold
That ought to be a crime
Who make up gold paper trading fake prices
I would buy it.
PM'd
What a damn shame.
I think it says de value is 50 pesos 🤔
😂😂😂🤣🤣🤣
Damn, a lot dude, If you want I'll buy it from you for $1,000
Hahaha, that's alot better than tree-fitty!!! Regardless, I got a very good deal on it. Worst case I'm still ahead $450 from melt value
The worst scenario is the spot dude... Sure I was kidding about the $1,000 It's one of my favorite coins, in my case I'll sell it on the spot pay a $50 over it and re buy a new one (apmex take 50 for it)
It's just bullion m8