German Saxony 1876 Funf Mark - Advise

[OneBiteAtATime]

Any thoughts on what to do with this old Saxony 1876 Funf Mark? I was going to KSA it, but looking it up - it looks like it may be in good enough shape I should pay to have it slabbed - or look for a collector. Anyone have an opinion on this guy?

[Recyclersteve]

No idea what the coin is worth. Unless it is worth at least several hundred dollars, I wouldn't slab it. Also, keep in mind that foreign coins often sell for deep discounts to published figures in price guides. It looks like it would be pretty easy to grade and is an attractive problem free coin IMHO. Slabbed or not, it will likely be difficult to sell unless it is worth roughly melt value. This is the kind of coin I'd expect to see on a Buy Board at an LCS.

To look it up (when you have a little time on your hands), go to en.numista.com. You will see a LOT of German coins there. It might be easier if you go to a local coin shop and ask to see their book of 19th Century foreign coins. Unfortunately, I don't have one.

[Thogey]

Unless it is worth at least several hundred dollars, I wouldn't slab it

Why?

[Thogey]

Slabbed or not, it will likely be difficult to sell unless it is worth roughly melt value.

Also why?

[Slaphot]

https://en.numista.com/catalogue/pieces26640.html

[Slaphot]

If you put it in a KSA I would bid.

[Thogey]

There's a brisk market on e-bay with completed sales between 30-70. Different mints and states. I love big Silver.

That particular coin may not be worth a slab. But it''s a good one.

[Recyclersteve]

Responding to Thogey’s questions-

I haven’t kept up closely with fees for slabbing lately. That said, let’s say this costs $30-40 to get slabbed. Let’s look at Morgan dollars in general. The difference in price between MS-65 and MS-66 (or, better yet, 66 & 67) can be several hundred to many thousands of dollars, easily enough to justify paying the fee. The coin in the photo looks XF to me- I’d expect lustre for an AU grade, but the hair on the obverse has way too much detail for me to grade it only VF. I think the chances of getting this graded AU are almost zero.

I would imagine that someone might actually prefer buying this coin raw (instead of slabbed) as they would likely pay less to acquire it. Also, if it is going into any kind of set, I would think it would be unlikely that the whole set would be slabbed.

As to why it would be difficult to sell- if it is worth way more than melt value, I would think there would be a limited market for it. Many dealers I speak with say it is hard enough to sell even key date U.S. coins at anything close to a retail price.

[Recyclersteve]

If you put it in a KSA I would bid.

KSA might actually be a decent idea.

[highroller4321]

I don't think the value is high enough to justify the grading fees. I also don't know if it will grade.

KSA it and I bet you will get a fair price. If you are looking at the catalog values in a Krause its good to note that German prices are usually very high vrs reality.

[AGgressive Metal]

Probably a VF, if it grades. Cool coin though.