High value coin now simply melt??

[Silver Surfer]

Many know that I am selling the last of my coin collection... Among the "odd" coins I have had for years is an 1887 Mexican 50 Centavos coin that someone drilled a hole in for a necklace... I figured it was just a scrap coin, but as always, looked it up... Seems this coin has sold for as much as $1250, so even with the one side having quite a bit of wear on it, without the hole it would still be worth a pretty penny.. They only minted 33k of them.
But can you coin pros please confirm my fears that the hole in it has made it simply a melt-value coin? Would sure hate to sell for melt only to find it had more value than that..

Thanks all..

 

Amazon Forum Fav 👍

Cry Of The Eagle: History And Legends Of The Cherokee Indians And Their Buried Treasure - Grab it through Amazon!

[mainer]

Defenitly worth more then melt, with that few minted. Put it on ebay you may be suprised at what it sells for.

 

[Iron Patch]

You can buy this one for $60 so not sure what you seen sell for over a grand. I think your coin is worth selling on it's own but certain no big pay day.

http://www.ebay.com/itm/Mexico-50-C...400?pt=LH_DefaultDomain_0&hash=item45fcf13ff0

 

[Mackaydon]

Current melt: c. $16. Several years ago the coin was valued at $15 in F, $30 in VF and $90 in EF.
No doubt about its relative rarity; just not in demand as in a US coin with same rarity. I'd venture to guess that current melt value and your current coin value are about the same.

 

[Silver Surfer]

You can buy this one for $60 so not sure what you seen sell for over a grand. I think your coin is worth selling on it's own but certain no big pay day.

http://www.ebay.com/itm/Mexico-50-C...400?pt=LH_DefaultDomain_0&hash=item45fcf13ff0

Should have checked ebay I guess... I googled 1887 Mexico coins and was directed to a coin dealer... He had a LOT of inverntory, found this coin in his list of for sale coins, it was priced as I stated and had SOLD in red across it.. Also where I got the 33k minted figure... So either he was wrong on the number of minted, or the ebay coin is set too low, or, contrary to the previous poster, low mintage means squat with Mexican coins??
Either way, the one you linked is in better condition since it has no hole in it...
Probably end up in a silver melt sale pile...
Thanks for looking into it, probably saved me a few bucks in ebay listing fee's..


BTW, I had to find where I got that info, and cannot believe it was "Coin Facts Wiki"... here is the link to the page, glad I found it again so people dont think I am FOS... ;-)

http://www.coinfactswiki.com/wiki/Mexico_1887-Pi_R_50_centavos

 

[Iron Patch]

You can buy this one for $60 so not sure what you seen sell for over a grand. I think your coin is worth selling on it's own but certain no big pay day.

http://www.ebay.com/itm/Mexico-50-C...400?pt=LH_DefaultDomain_0&hash=item45fcf13ff0

Should have checked ebay I guess... I googled 1887 Mexico coins and was directed to a coin dealer... He had a LOT of inverntory, found this coin in his list of for sale coins, it was priced as I stated and had SOLD in red across it.. Also where I got the 33k minted figure... So either he was wrong on the number of minted, or the ebay coin is set too low, or, contrary to the previous poster, low mintage means squat with Mexican coins??
Either way, the one you linked is in better condition since it has no hole in it...
Probably end up in a silver melt sale pile...
Thanks for looking into it, probably saved me a few bucks in ebay listing fee's..


BTW, I had to find where I got that info, and cannot believe it was "Coin Facts Wiki"... here is the link to the page, glad I found it again so people dont think I am FOS... ;-)

http://www.coinfactswiki.com/wiki/Mexico_1887-Pi_R_50_centavos

I was guessing it would be grade. (NGC MS-63) That coin is probably one of the finest known. Even a coin that books for $10 in VG is going to have good value in MS-63