Special Status of Gold Pieces
Question: Please advise on the value of a 1975 100 Balboa gold coin, Republic of Panama, struck by F.M. on Dec. 31, 1974, in its original cachet, and a 1982 one-ounce gold panda in its original sleeve.--G.W.W.
Answer: Last week I discussed bullion coins, focusing on the new sales leader, the gold Canadian maple leaf. Your question essentially is an extension of that subject. While the maple leaf and before that the South African krugerrand have been the leaders in bullion pieces, other gold pieces have found favor with collectors and investors, including the Austrian corona, the British sovereign, the Hungarian korona and the Mexican onza and peso.
Other countries have also issued bullion coins. Most of these pieces are worth their intrinsic value, which fluctuates daily depending on market price. But some of these coins have attained special status, basically because mintages are relatively low and also because of collector demand. Your coins are examples of this split bullion personality.
The Balboa, for example, was made by the Franklin Mint for the Panamanian government. It’s worth about $125, which isn’t bad for what many consider almost a souvenir piece. The Chinese gold panda, however, is another story. This one-ounce gold piece, dated 1982, is worth about $1,300. Not only was it a good investment because of the gold content, but also because of the fact that it carries a collector premium.
In the months to come, the United States and some other countries are expected to enter the gold-bullion coin market. Which ones will be the big winners and which will fluctuate with the metals market remains to be seen. For many collectors, numismatic coins will always hold the main attraction. Others will seek out the less-demanding bullion pieces. Either way, it can be a lot of fun--and rewarding.
Q: Can you tell me if a coin that says, “California gold 1850 ten dollars” on one side and “Baldwin & Co. San Francisco” with an eagle on the other side has any value? Also, a 5-cent Canada 1912 coin.--B.G.
A: Baldwin & Co. coins are categorized as private or territorial gold issues. They were produced by a San Francisco jewelry company and are very rare. Most pieces are copies and have very little value. If your coin was purchased from a dealer or a major auction house and you have papers of authenticity, then your $10 gold piece could be worth $10,000 and up. But, if it’s just something that’s been around for a while, it has no actual collector value. Your Canadian nickel is worth about $3.
Coin News
Remember old-time radio personality Parkyarkarkus? He was portrayed by Harry Einstein, whose collection of many rarities will be auctioned in New York June 23-25. Among the highlights are virtually complete sets of gold dollars and $3 pieces, a gem-proof 1879 $4 Stella, a complete set of Indian-head $10 gold pieces from 1907 to 1933 and the 1804 silver dollar (known as the king of American coins). The rare 1804 dollar (pictured) is the Garrett Collection specimen and should be the subject of spirited bidding. The Einstein auction catalogue, under preparation, is $10 from Auctions by Bowers & Merena, Box 1224-NR, Wolfeboro, N.H. 03894.
A value guarantee will be offered for purchasers of the Korean Olympic Coin Collection. The guarantee will enable purchasers to return coins for a full refund of the issue price until Dec. 31, 1990. First issue of the coins will be introduced in October with the remaining three issues to follow in six-month intervals. There will be one-ounce and one-half-ounce gold coins and one-ounce and two one-half-ounce silver coins in each issue. Only 30,000 one-ounce gold coins will be issued, and they can be bought only as part of a 20-coin set (16,000 sets issued) or in a four-coin series of all issues. Coins will be in proof and uncirculated condition. Pricing and distribution details are expected in mid-summer.
Coin Calendar
Sunday--The Covina Coin Club will hold its 25th annual show at the Joslyn Center, 815 N. Barranca Ave., Covina, 9 a.m. to 5 p.m. A wooden commemorative nickel will be given to those attending the free show. Telephone: (714) 599-0064.
Don Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.