August 14, 2012 – In our last issue we published some opinions on so called “pseudo coins”. Al Beck, a dealer from the United States who specializes in coins featuring animals sent us the following letter.
The stamp people faced the issue of non-circulating, legal tender and pseudo-issues a long time ago. I have had some interesting discussions with the editors of the Krause Mischler catalogues, but go nowhere. One problem is the need (addiction) to acquire new coins by topical and type collectors. Wealthy collectors and speculators in China and Eastern Europe have led private mints to strike low mintage colorful issues. Although I benefit, as a dealer in topical coins from these issues, I find the market shrinking amongst my long term regulars. They understand that low mintages do not necessarily equate with scarcity – but low numbers appeal to speculators in the short term. On a long term basis their wonderful buys will go for a fraction of what they paid.
If you want to read the original article featuring interviews of Rene van Dijk / Royal Dutch Mint, Ron Currie / Perth Mint and Niels Hagemann / MDM Münzhandelsgesellschaft, click here.