WHAT'S CURRENT?

[uthminsta]

Alright. There are tons of world coins out there in what dealers and collectors call "junk bins." Coins that are 10 cents. 4 for a dollar. 5 for a dollar. Whatever, you know the box.

Have you thought about how many of the coins in that box are actually worth more in exchange than is being asked for them? If you were armed with that knowledge, and could easily sort out the "best values," would you?

Figuring in all the potential costs, would you / could you possibly "flip" them for a profit to someone who could spend them in whatever country or countries they came from?

Would you / Could you hold on to them as a world currency hedge?

How many would it take to make it worth it in each scenario? What if you knew these coins in the dime box were worth a dollar in Australia? Or worth two dollars in Brazil? Or Hong Kong? Or...

Lotsa questions here. But I think I've made the point. Who's collecting? Who's got some tips to share? Let's start a discussion here....

Okay, here's my first story. This is what got me thinking about it. I have five Australian 2 dollar coins, ranging in date from 1988-1999. They are current, according to this page: http://en.wikipedia.org/wiki/Two_dollar ... tralian%29 And I just got the fifth one today, from the infamous junk box, for a dime. And guess what? They're worth right about 2 US dollars each. Hmmm... worth it? I woulda paid a dime for the coin no matter its worth, but that's just who I am. But it's no longer just a cool coin. It's potential.

Okay, one more. I have some Hong Kong 10 dollar coins, and if they're current, they're worth about $1.30 each. I have no idea how long I've had them, but... sweet!

Doesn't always work though, unless you know what to look for. Got a couple of Costa Rica 100 colones, and they seem kinda impressive. Worth a little under 20 cents each. 100 colones sounds a little more impressive than 19.4 cents.

Okay. Your turn. Thoughts? Stories?

[AGgressive Metal]

I've been doing this for years. It is sometimes, but not always, hard to find buyers on Realcent because out of 200 or so active members, the chances of someone going to any particular country in the near future are not great, the Eurozone and Canada aside.

[uthminsta]

Do you have some set aside, or do you just accumulate it to sell?

[Devil Soundwave]

Great idea in theory though. Someone needs to set up a currency exchange specifically for coinage given you can only ever exchange notes at banks and travelex places...

Could corner the market and make a killing - i mean *everyone* has a baggy of old holiday change they can't currently get rid of right?

WIth the internet it could be done without overheads and payments could be made using Paypal, plus you could make some nice finds numismatically...

[aloneibreak]

oh yea i sort out a few select foreign currencies.

i have no coin shops within a couple hundred miles - so i sort through bulk lots bought off ebay or a couple other places when i get time

the aussie dollar is my favorite to pick out - im actively buying aussie coins when i can get them at a discount

i think they're actually ahead of the u.s. dollar again...

i also save out swiss francs, euro's, and japanese yen.

i sold a group of aussie coins on here a couple years ago.

euro coins will usually sell ok on ebay.

ive got quite a few swiss francs im almost ready to let go - not sure if here or ebay.

i think the key is to pick a select few countries to save - you'll get to overwhelmed trying to keep too many different countries current coinage

[hobo finds]

I would like to find some coins from Kuwait! http://en.wikipedia.org/wiki/Highest-va ... rency_unit

[hobo finds]

a cool site with current world coin images. Click on See current circulation coin sets of the world http://coins.about.com/gi/dynamic/offsi ... llery.com/

[Rexor]

I "make a profit", as small as it is, selling foreign coins, I have acquired at deep discount, on Ebay. The Ebay commission is steep but shipping is what makes the endeavor prohibitive. People are aware of shipping and will usually discount their bids based on shipping. The key is to get a large enough value of foreign legal tender that shipping becomes incidental. That can be hard.

Also, some currencies just seem to sell better than others. I always do well with Japan and the UK. I have been disappointed with the sale of Australian and Swiss coins.

[AGgressive Metal]

Also, some currencies just seem to sell better than others. I always do well with Japan and the UK. I have been disappointed with the sale of Australian and Swiss coins.

Keep trying - I just had a group of Swiss coins go for fair value plus shipping.

[TXBullion]

I would like to learn about this too. I saw some half pennys in the junk bin for 10 for 1$. Do those carry a premium. Might have been some largy pennies too ( i think they are english ). Would those be worth buying?

[uthminsta]

Large British pennies are not current. Not sure what halfpennies you saw, but if they were Australian or British, they are not current. Although they are sizable chunks of bronze bullion, so there's always that...

[Rexor]

Also, some currencies just seem to sell better than others. I always do well with Japan and the UK. I have been disappointed with the sale of Australian and Swiss coins.

Keep trying - I just had a group of Swiss coins go for fair value plus shipping.

Of course! It is in our nature.

[gothboi30]

Not a bad strategy.....however, all banks and currency exchanges in my area that do foreign exchange only exchange bank notes/paper money. To the best of my knowledge, NONE OF THEM WILL EXCHANGE COINS. This makes it a little hard to make extra $$. I would think one would be better off trying to find some foreign coins that have silver in them, even if it's only 10 or 20 percent.....

[AGgressive Metal]

The banks won't exchange them, but AGgressive Metal will (that industrious lad, he!). Check my thread in WTT. I am thinking of making an actual business out of it with website and the full works.

[JadeDragon]

I am a ready buyer for Canadian coins and I'm set up to accept them at a US PO Box. The Loonie is now at or above parity, making those Northern coins that escaped to the USA worth as much or more than the American coins they mix with. I understand some coin dealers will sell Canadian coins at a discount to face, creating a profit opportunity. I'd just mix the lower value coins back into US circulation if you can but the $1 and $2 coins can't be passed easily.

The deal I offer is 90 cents US via paypal for each Canadian dollar shipped to me as long as the currencies are near parity. If there is a big move I'll convert to US$ and discount 10% for handling.

[HoardCopperByTheTon]

Sounds reasonable to me JD. Now I just have to get together 69 pounds worth to make shipping worthwhile.

[JadeDragon]

Sounds reasonable to me JD. Now I just have to get together 69 pounds worth to make shipping worthwhile.

Send me 69 pounds of loonies and toonies and I'll even discount the rate. That's quite a bit of coin! Some have used the VHS size box and also shipped dimes, quarters and even pennies. I'd try to mix them into circulation but I guess it is hard to do sometimes.