Can anyone give me some advice on this old Balboa. It has some damage to the surface as a milky appearance. There are no scratches or finger prints. Is it worth keeping or trading for some other silver ? I got it about 12 months ago pretty cheaply.
I know that they contain 2000 grains or 4.5oz of stirling silver (4.16 oz pure silver). I also know that the mintage in 1977 was 2500 and many were melted down. But what I dont know is the value or the importance of the milky damage and how common that is in these coins. It does not look like PVC damage? I got it in its original capsule ?
Hi Matrix - yes I have quite a few coins (legal tender) from the Franklin mint mainly South America, Africa and West Indies. This was the largest circulating coin in the 1970s when money had value and was a store of wealth. The good old days. Thanks
From what I have been told Everything from FRANKLIN MINT should go to the big melting pot in the sky ,all the dealers in Melbourne hate the stuff
Thanks Matrix. I took the grains and ounces off e-bay - just shows how you cant believe e-bay ads. The prices sold on e-bay for 1974,1976,1977 range from $135-$199 but that goes back a while. Thanks again for the advice
I think I have sorted out the pure silver content ? I think I found this quote on a collectors site : I think I will keep it ? Shown above is a 1976 Panamanian 20 balboa coin struck to proof standard. It was minted from 129.6 grams of 0.925 fine silver (sterling silver) which converts (129.6 g = 4.16673 oz troy) to 3.85 ounces of pure silver. At the time of writing the silver content of this coin was worth about US$52. The obverse of the coin depicts Simon Bolivar, who was a leading figure in the struggle for independence of Spanish America. The country of Bolivia is named after him. The reverse depicts the great seal of Panama . The first thing to note about these coins is the sheer size. The coin is 61mm in diameter, compare this with 32mm for the Australian 50c and 30.6mm for the US Half Dollar. It is simply massive, among the bigger coins minted in history. The coins were minted from 1971 through to 1985. However from 1980 they were minted from 0.500 fine silver rather than the sterling standard and the weight dropped to just under 120 grams. I have a couple of these coins. The proof one shown above, and a regular circulation coin. The circulation coins dont have the normal polished appearance that most coins do, but instead have an all matte appearance. I cannot emphasize exactly how big these things are, each coin is a handful by itself. Consequently they are impossible to put in a holder and mine reside in paper envelopes where, sadly, they are hardly ever looked at. Mintages are small for almost every issue, ranging from just 500 for the 1984 unc issue (celebrating the 200th anniversary of the birth of Bolivar) up to 161,000 for the 1974 proof issue. The higher issue coins are usually available at little more than the value of the silver they contain. The smaller mintages do have a numismatic premium, but given the low mintages and how infrequently they appear on the market I believe they are undervalued. Great coins, the 20 balboa's, massive discs of silver, everyone should have one. And given their low cost there's no reason not to
See below what the Krause catalog says about the coins KM# 44 20 BALBOAS 129.5900 g., 0.9250 Silver 3.8538 oz. ASW, 61 mm. Subject: Vasco Nunez de Balboa Obv: National coat of arms Rev: 3/4- length standing armored figure facing left, raised right arm holding sword, left arm a flag Note: Illustration reduced. Date Mintage F VF XF Unc BU 1977FM (P) 24,000 Value: 95.00 1977FM (U) 2,879 BV 80.00 90.00 110.00 125 1979FM (P) 13,000 Value: 100 1979FM (U) 2,500 BV 80.00 90.00 110.00 125 The catalog prices ( loose correlation ) are assuming a price of silver $14-$18 per oz (thats when the catalog was issued ) Also there is KM# 54 20 BALBOAS which pretty much looks the same as coin above but the year is different. Its a Balboa and they generally go for premiums similar to the 1937 Crown ( the 1 Balboa & 1/2 Balboa coins ) Recent sales on eBay http://completed.shop.ebay.com/i.ht...nc&LH_Complete=1&_fln=1&_trksid=p3286.c0.m283 at 3.85 oz the prices above were good deals for those who bought them.
Well - the sale date for those Balboas above is 10th July and around the 10th the SPOT was around $36.50 USD - also the postage to Australia is $24 ( from the eBay seller, and for the USA it was $9.50 ) assuming that the Balboa was purchased by an American, see below for what the buyer paid for the 20 B on day of purchase 3.85 oz silver for $140 +$9.50 = $150 spot $36.50 premium over spot at time of purchase = 6.7 %
I have the same coin its in set with two other silver and about 5-6 other CuNi coins only my year is 1975. I love it cause of its size 61mm.
Really? I actually quite like alot of the 70's coins - the designs can be quite pleasant and are certainly better than many I've seen (Max Kaisers fat head comes to mind )
