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  1. #1
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    Default Gold Coin - how to sell

    HI all

    I was gifted a commemorative gold coin in 1999 and it is basically just sitting in the cupboard and I have thought about getting rid of it. Having no idea about these things (come in spinner) I was wondering if there was any one out there that knows the best way to sell it.

    Here is a link;
    Saudi Arabian Monetary Agency Medallion Coinage

    Here is what it is;

    Year: 1999: Obverse: This coin was issued on 05th Shawal 1419 AH corresponding to 23rd Jan 1999. Celebrating the 100 years of Kingdom of Saudi Arabia 1319 - 1419 AH with displaying the official logo of this occasion. Reverse: Portrait of the founder of Saudi Arabia: King Abdul Aziz bin Abdul Rehman Al Saud, who recaptured Nejd on 05th Shawal 1319 AH [corresponding to Wednesday 15th Jan 1902]. Weight: 8.00g. Diameter: 22mm. Edge: Reeded. Fineness: .9167Au. Mintage: 15,000. Mint: Monnaie de Paris with approval of French mint director: Emmanuel Constans and SAMA governor: Hamad S. Al-Sayari. Struck from the gold extracted from Saudi gold mines. The same gold coin was also produced in weight: 30.00g, diameter: 36mm with same gold fineness and has a total mintage of 10,000.
    that weighs 30grams


    Cheers

    The one I have is in bold and is in a presentation case (marked on the edges) and enclosed in a plastic cover so is in mint condition.


  2. #2
    Join Date
    Apr 2002
    Location
    Margate Tasmania
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    Default

    You could try these coin dealers:


    • Adelaide Exchange Jewellers


    Shop 32, Upper Level Cat & Fiddle Arcade Murray St, Hobart TAS 7000
    ph: (03) 6234 500
    • Coins 'N Things

    9 Thirza St, New Town TAS 7008
    ph: (03) 6228 2602
    • McNeice Coins - The Token Factory
      PO Box 91, Sandy Bay TAS 7005
      ph: (03) 6227 9758


    • Salamanca Rare Coins

    PO Box 652, Hobart TAS 7000
    ph: (03) 6224 8664
    • The Stamp Place
      110 Collins St, Hobart TAS 7000
      ph: (03) 6224 3536
    Kev

  3. #3
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    back in Alberta for a while
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    Default

    Quote Originally Posted by dazzler View Post
    HI all

    I was gifted a commemorative gold coin in 1999 and it is basically just sitting in the cupboard and I have thought about getting rid of it. Having no idea about these things (come in spinner) I was wondering if there was any one out there that knows the best way to sell it.

    Here is what it is;

    Year: 1999: Obverse: This coin was issued on 05th Shawal 1419 AH corresponding to 23rd Jan 1999. Celebrating the 100 years of Kingdom of Saudi Arabia 1319 - 1419 AH with displaying the official logo of this occasion. Reverse: Portrait of the founder of Saudi Arabia: King Abdul Aziz bin Abdul Rehman Al Saud, who recaptured Nejd on 05th Shawal 1319 AH [corresponding to Wednesday 15th Jan 1902]. Weight: 8.00g. Diameter: 22mm. Edge: Reeded. Fineness: .9167Au. Mintage: 15,000. Mint: Monnaie de Paris with approval of French mint director: Emmanuel Constans and SAMA governor: Hamad S. Al-Sayari. Struck from the gold extracted from Saudi gold mines. The same gold coin was also produced in weight: 30.00g, diameter: 36mm with same gold fineness and has a total mintage of 10,000.
    that weighs 30grams

    Cheers

    The one I have is in bold and is in a presentation case (marked on the edges) and enclosed in a plastic cover so is in mint condition.
    Dazzler
    don't get your hopes up
    you have an 8g coin at .9167 fineness, that is you have about 0.236 of an oz of Gold.
    Because it's an "unaccredited coin" The Perth Mint might buy it from you for about $280 (as at 16:45 WST 30 apr 2010). Link The Perth Mint :: Metal Prices - Live precious metal spot price for gold, silver, platinum and palladium from the Perth Mint. scroll down the page
    the "gold traders" who have recently popped up in most of our local shopping centres, might give you 50 to 75% of that.

    Commemorative coins are only worth a lot more than their gold content when the minatge is low and many people want them.
    regards from Alberta, Canada

    ian

  4. #4
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    Default

    Thanks Kev and Ian

    I actually have no real expectations as this is an area I know zilch about, hence the question.

    On the documents that came with it it says 91.67% gold and weighs 30 grams. Quality is 'proof' whatever that means.

    cheers


  5. #5
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    Which coin is it, you have given us details for two?


    • Weight: 8.00g. Diameter: 22mm.
    • Weight: 30.00g, Diameter: 36mm

    Ian's response was based on the smaller sized coin.

    I noticed that Northgate had one of those gold buying booths on Wednesday.
    Kev

  6. #6
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    Default

    Quote Originally Posted by dazzler View Post
    Thanks Kev and Ian

    I actually have no real expectations as this is an area I know zilch about, hence the question.

    On the documents that came with it it says 91.67% gold and weighs 30 grams. Quality is 'proof' whatever that means.

    cheers
    I'm sorry dazzler, I miss read your original post
    You have the 30g coin which at 91.67% Au equates to about 0.806 of a troy oz. which at Friday's closing price at the Perth Mint is worth about AUD $970.

    coins come in three flavours
    "proof" -- in Australia this referes to a coin that has been struck using a highly polished die, then spot polished and in some cases spot frosted, sold in a sealed plastic case so you don't get finger prints or tarnishing on the coin.
    "uncirculated" -- essentially bright and shiny coins with no dings or finger prints. In Australia, uncirculated coins are usually sold in a plastic wallet, though you can sometimes buy rolls in a paper wrapper.
    "circulating" -- the stuff in your pocket
    regards from Alberta, Canada

    ian

  7. #7
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    Default

    Quote Originally Posted by KevM View Post
    Which coin is it, you have given us details for two?


    • Weight: 8.00g. Diameter: 22mm.
    • Weight: 30.00g, Diameter: 36mm

    Ian's response was based on the smaller sized coin.

    I noticed that Northgate had one of those gold buying booths on Wednesday.
    Sorry I wasnt very clear. Half asleep with the new bub


  8. #8
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    Default

    Quote Originally Posted by ian View Post
    I'm sorry dazzler, I miss read your original post
    You have the 30g coin which at 91.67% Au equates to about 0.806 of a troy oz. which at Friday's closing price at the Perth Mint is worth about AUD $970.

    coins come in three flavours
    "proof" -- in Australia this referes to a coin that has been struck using a highly polished die, then spot polished and in some cases spot frosted, sold in a sealed plastic case so you don't get finger prints or tarnishing on the coin.
    "uncirculated" -- essentially bright and shiny coins with no dings or finger prints. In Australia, uncirculated coins are usually sold in a plastic wallet, though you can sometimes buy rolls in a paper wrapper.
    "circulating" -- the stuff in your pocket
    Thanks Ian. So I take it that means that the base value of the coin is the gold value and any other value is determined by market/collectability kind of stuff and in this case is probably not much.


  9. #9
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    Quote Originally Posted by dazzler View Post
    Thanks Ian. So I take it that means that the base value of the coin is the gold value and any other value is determined by market/collectability kind of stuff and in this case is probably not much.
    well sort of
    The Perth Mint for instance has several different gold buying prices -- which one they use depends on what form the gold is in, bar, bullion, Australian coins, "recognised coins" "unrecognised coins".
    If you're dealing through an intermediatry, you need to factor in their costs and profit, which might amount to more than 50%
    regards from Alberta, Canada

    ian

  10. #10
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    South Australia
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    Default

    Put it on a auction site with gold value set as the reserve, if it has no other value to you then whatever you get over the reserve is a bonus

  11. #11
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    Default

    Thanks for all the advice


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