Sanctions Will Restrict Krugerrands

Question: I have 20 krugerrands that I bought for $350 to $450 each within the last two years. Since President Reagan is banning the sale of krugerrands, what can I do with these coins?--R.C.

Answer: Your letter probably typifies some of the confusion that exists regarding the status of krugerrands (South African gold coins). The President has not banned the sale of existing krugerrands. He has banned the importation of krugerrands from South Africa as a political move to show this country’s displeasure with the policy of apartheid--officially sanctioned racial segregation.

Because gold production is a major force in South Africa’s economy, it is hoped that the banning of krugerrands and other measures will help bring about a change in that country’s practices.

Even before President Reagan’s ban, many collectors and dealers were shying away from the krugerrand in favor of the Canadian Maple Leaf coin. Both are essentially bullion pieces in one-ounce, half-ounce and other weights and denominations.

They are purchased primarily as investment pieces and as a hedge against inflation. Few have numismatic interest.

Other nations besides South Africa and Canada produce such coins, so a purchaser has a choice within a rather narrow price range of these investment gold pieces.

Now, just because the importation of new krugerrands has been banned, there is nothing to prevent you from selling those you already own or purchasing others that might be available. Last Friday, when gold was priced at $328.75 an ounce, you could have purchased krugerrands for $337.75 from some dealers and sold the ones you own back to them for $331.75. So you can see that at the present time you would be taking a sizable loss on the krugerrands for which you paid $450. Your options are to purchase more krugerrands or other gold pieces now at the lower price to average out the price of your coins; or to hold on to your krugerrands with the hope that the price of gold will go up. Incidentally, if you buy more than $1,000 face value of bullion coins, there is no sales tax.

Another possibility would be to turn your krugerrands into numismatic pieces. If you select quality coins that are properly graded and fairly priced, that might turn out to be the best investment of all.

Q: I ran across a $1 coin dated 1890. Is there any value to it? If so, where can I sell it?--R.B.L.

A: Your Morgan dollar is a very common date. It’s worth $10 and up, depending upon condition. Any coin dealer would be a potential buyer.

Q: Would like to know the value of the following: half dollars dated 1941 to 1972; silver dollars dated 1885, 1922 and 1935, and quarters, 1944, 1945 and 1953.--B.M.

A: Your half dollars from 1941 to 1964 are worth $2 each and up; the silver dollars are $10 each and up; the quarters are $1 each and up.

Q: I have a U.S. coin dated 1868. There’s a woman’s head on the front, and the reverse has sort of a wreath and a 111. Can you tell me if this is a 3-cent piece and about how valuable it is?--K.K.

A: Your coin is indeed a 3-cent nickel. In fact, it’s one of 3.2 million minted in 1868. It’s worth $2 and up, depending upon condition.

Q: I have the following in good condition and would like to know the value: 1936 nickel, 1944 Lincoln penny, 1945 dime, 1945 quarter and 1945 half dollar. Also several nickels from 1940 to 1963.--A.K.S.

A: Your nickel has little or no value unless it is an uncirculated collector piece; the same is true for the 1944 cent; the dime is 40 cents and up, the quarter $1 and the half dollar is $2. Nickels dated 1942 to 1945 have some silver value; others must be uncirculated to have a premium.

Q: I would appreciate information on the value of the following coins: A half dollar dated 1952 showing heads of Booker T. Washington and George Washington Carver and on the reverse the words Freedom and Opportunity for All; dollars dated 1922 and 1890; a 1960 half dollar; a 1944 Liberty half dollar, and Kennedy half dollars dated 1964, 1967 and 1969. Also, an Indian head penny dated 1898.--C.F.

A: The commemorative half dollar is worth $5 and up; the silver dollars are $10 each and up; the Franklin, Walking Liberty and 1964 Kennedy half dollars are $2 each and up; the 1967 and 1969 Kennedy halves are 75 cents each, and the Indian head cent is 30 cents and up.

Q: I have a Series of 1934-A $100 bill with a plain seal. The bank teller thought it might be valuable and told me to check it out before depositing it. Is it?--V.I.

A: The bank teller was trying to be helpful, but your bill has no collector value.

Q: I have a sterling silver $25 coin, 1972, Cayman Islands, issued to commemorate the 25th wedding anniversary of Queen Elizabeth and Prince Philip. I paid $32 in 1972. Is it worth more or less today?--D.S.

A: Your coin, uncirculated, catalogues for $35. That’s what you might have to pay to get one today. To sell, I doubt that you would get much more than the silver value. That’s often the case with commemorative pieces. They’re essentially souvenirs. If the occasion is meaningful, then by all means purchase the coin or medal. But don’t do it if your main interest is profit-making. So, in answer to your question, is it worth more or less: less.

Coin Calendar

Today, Friday, Saturday and Sunday--This is the big one, the 8th annual Long Beach Numismatic & Philatelic Fall Exposition with 385 dealers participating. In addition, there will be an auction, junior forum, various specialist meetings and free appraisals. Hours are 10 a.m. to 8 p.m. Thursday to Saturday; 10 a.m. to 4 p.m. Sunday at the Long Beach Convention Center.

Coin News

The first two Olympic coins of the 10-coin series commemorating the 1988 Olympic Winter Games in Calgary are now available. The sterling-silver coins (pictured) show a downhill skier (Ian Stewart) and speed skater (Friedrich Peter). The $20-face-value coins are available for $28 each or $280 for the entire series. To order, write the Royal Canadian Mint, P. O. Box 346, Station A, Ottawa, Canada K1N9L5.

Three different catalogues have been released by Stack’s to mark its 50th anniversary sale auction Oct. 22-24 in New York. The catalogues feature a type collection of silver coins; U.S. proof sets and gold coins, and foreign gold and silver coins. The illustrated catalogues are $10 for the set and include the subsequent list of prices realized. Order from Stack’s, 123 West 57th St., New York, N.Y. 10019.

Subscribers to the Israel coin program receive a free medallion each fall corresponding to Rosh Hashanah, the Jewish New Year. The medal this year, dated 1986, honors the 40th anniversary of the victory over Nazi Germany. To obtain a free medal, write to the Israel Government Coins & Medals Corp., 350 5th Ave., New York, N.Y. 10118.