Interesting how perception has changed on the Silver 1966 50c Coin

1for1

1for1

Well-Known Member
I have noticed over the last 5 years how the 50c 1966 Australia coin has gone from being considered scrap/junk to holding its own and recently selling for premiums over the sterling silver florins with a comparible 1/3 troy ounce silver content. They used to trade below spot and due to them being readily available and for the most, in high grade... also that there is just the 1966 to get being a one year type issue, made for this coin being considered a lesser coin to others. Another factor for this was that its only 80% which is inferior to sterling silver as far as investor preference is concerned (traditionally).

To justify my position i mean a regular fine florin or half dollar (obviously not a key date or MS-70), to compare a 1936 florin is a great coin to stack as a substitute to the 1966 and can get very cheap and in a decent grade....

I find it odd i can sell a common 1966 50c for the same as a 1931 florin or 1941 us half dollar...

I guess id compare this phenomenon to me back in 07 thinking the 1927 commemorative florin was the best one to get... i soon clicked this coin is very common and due to it being a comemorative issue it is still available in high grades and in plentiful supply. the Different George Fifth Effergy with the raised relief had me thinking i was getting something better.

Im happy the new comers to the market identify with the 1966 and can see how its plentiful nature makes it a perfect trading vessel.. this may be the secret of the 1966... im still trading these for others as this is my preference and i value scaricty and variety more than easily identifyable and common in high grade.

As always in the physical market... demand will dictate the final prices. (unlike the rigged paper market).

To sum up.. the 3 coins which newbies get into in terms of going sterling/numismatics are:

1. 1966 50c -- very common, common in high grades
2. 1937 Crown - very common, common in high grades
3. 1927 Canberra Parliament Florin

I know i used these as an entry point to get into the world of numismatics.. happy to say i have had enough of them and have moved on.

Just an observation that i thought i would share with the community and that changing tastes in silver investment are a niche investment within silver and how picking the right silver to stack and identifying trends in the market could pay even bigger dividends.

1for1
 
Thank you for the information! Just wondering how much would you pay for today's 1966 50 cents in current market? I realized there will be about 10-15% premium on these coins. Would you better off in investing florins or 50 cents? Why so?
 
Stexe said:
Thank you for the information! Just wondering how much would you pay for today's 1966 50 cents in current market? I realized there will be about 10-15% premium on these coins. Would you better off in investing florins or 50 cents? Why so?
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Hi, i sold 3 today for between 12-13 on ebay with $2 postage.... i tend to chuck em on at .99c

I would say florins are covering more bases... its really getting into something different so you need to be interested in it but since i got into numismatics im very interested in history etc so its enriched my life.. i now buy silver for both numismatic value and silver value .. to me its the ultimate hedge..

It will require you to upskill your knowledge and learn grades and mintages.. but once you do.. you potentially stand to gain far more.. for example you may find high grade or low mintgae silver florins, shillings etc... that could see you initial investment near spot multipled overnight... something which is less likely with the 1966 -- theres the double bar but basically its ourley for the silver %..
With the 1966 you also get standard issue.. this means its well known and plentiful... two very good traits for bartering..

Id recommend getting 1966's til they bore you and move on..

im a collector so i like to get one of everything..

cheers,

1for1
 
florins i guess since theey have better potential as numismatics and more chance that theyve been melted down, lost in an attic etc, making them more scarce
 
Florins are 0.925 Ag and around 0.33 oz asw
and 66 50 Cent are 0.800 Ag and aroudn 0.34 oz asw

Plus the Florins are older and prettier.

Id value a pre Florin more than a 66 50 Cent piece.
 
Great post 1 for 1.
I have always viewed the coins you mention as "stepping stones " to trade for other higher grade coins.I know what you mean by getting bored with 66 ers.Most of the 300 I had are now gone.

Without exception my rounds have been" traded up' for more interesting numis..it is a progression thing
I just hope I am progressin' in the right direction :)
 
I am thinking current market is a bit difficult to get people sell off their silver, unless necessary. So buying coins for now might be a better option. The thing is, to find certain coins in current market in need some luck.

I went to some coin stores, and their 1937 crown isn't cheap at all, about $45-55 each, and looks pretty muddy. Would you reckon 1938 crown for $165 a good buy? Condition should be graded from Fine-Extra Fine? I am very new to this =)

Thanks all the gurus !
 
In my opinion 1966 50 cent coins are now substantially overvalued and do not deserve to sell at the premiums they currently do, and hence in my opinion are no longer a sound purchase. When stacking silver I generally tend to buy relatively undervalued forms of silver and stop buying them when they stop being undervalued, and moving onto the next thing.

In 2010 I bought some 1966 50 cent round coins in good condition for around 7% under spot. They now often fetch a 10% premium to spot, which is a lot for junk silver. You may as well buy 999 silver in larger sizes. I also bought Florins when they were trading at good discounts to spot, whereas now they trade around spot.
For a while after that this year I bought some masterpieces in silver sets which traded at good discounts to spot (between 5 and 15%), they now often trade at spot. I also bought some interesting foreign coins below spot, and some scrap silver antique spoons at huge discounts to spot. I'm still looking for the next undervalued type of silver, but there are few if any bargain varieties of silver to be had in the current market.
 
Stexe said:
I am thinking current market is a bit difficult to get people sell off their silver, unless necessary. So buying coins for now might be a better option. The thing is, to find certain coins in current market in need some luck.

I went to some coin stores, and their 1937 crown isn't cheap at all, about $45-55 each, and looks pretty muddy. Would you reckon 1938 crown for $165 a good buy? Condition should be graded from Fine-Extra Fine? I am very new to this =)

Thanks all the gurus !
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Hi, i wouldnt pay $45-55 for a 1937 crown unless it had a full orb tbh. I 1938 crown is NOT an example of what i mean as only $30 out of $165 is for the silver aspect. Id always choose numismatics near spot... for example.. coin shops sometimes have buckets of silver that sells for a small premium over spot.. i effectively hunt for higher grade george v's florins/shillings/six and three pence...

Once i got 20 1937 crowns my thirst for it was quenched... you should definitley consider GREAT BRITIAN CROWNS as a substitute.. IMO these are some of the most underated issues in numismatics... same design as the soveriegn .. st george vs dragon... i also highly rate Indian Rupee as the best investment within the silver numistmatics field.. anywhere near spot is very smart.. Queen Victoria was hot on some coins, see Gothin Florin... beaut coin!

I do own a 1938 crown in low grade i paid $80 for when silver was $20... mintage of just 100,000 but i only did so to further my quest for a complete australia pre decimal set. given its a two year type i was happy to have an example.. ie: the 1937 did the job the first 4 years...

I always get a few bucks worth of 20c pennys also when walking out to add to my copper stack but

Given the chance would ALWAYS pick a kookaburra over a 1937 as the world is currently.

1for1
 
Argentum said:
florins i guess since theey have better potential as numismatics and more chance that theyve been melted down, lost in an attic etc, making them more scarce
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In terms of standard issue florins vs the commorative issues, the normal release was in hindsight a much better item to store away.. the key reason for this is that normal florins got circulated and the commemorative issues were hoarded, so these days the supply of high grade commemoratives makes them deceptively cheap and perfectly illustrate why i contrarion view to investment is a successful strategy.

The same principle will proberbly hold true for the Australian 50c coins in 100 years time....

Commonwealth Sterling Silver near spot is a very SAFE investment.. very low chance of losing money but huge upside potential. The trick is you need to study the grades, dates and this may change your whole outlook on silver and they way you accumulate it.

Thanks,

1for1
 
Just to add to your table:

1. 1966 50c -- very common, common in high grades -> Mintage: 36,454,000
2. 1937 Crown - very common, common in high grades -> Mintage: 1,008,000
3. 1927 Canberra Parliament Florin -> Mintage: 2,000,000
 
I think that at this very moment 66 fifty cent rounds are still a good coin to stack for new stackers particularly for the ones that have only started stacking in the las t few months. With the price of silver at around $33Auoz, 66 rounds should be around $12 each to buy.

If you have limited funds say $50 a week to spend buy 4 each week.. If silver flatlines in price for the next couple of months,you can soon acquire a nice little stack which you can always sell and trade for 1oz coins etc.

If silver rises a modest $2/3oz you may even get $13 each for them and make an 8.5% profit.

New stackers should get to know about 37 crowns, $10 state coins and pre 66 silver coins. You never know when you come across a bargain.

Regards Errol43
 
Bargain Hunter said:
In my opinion 1966 50 cent coins are now substantially overvalued and do not deserve to sell at the premiums they currently do, and hence in my opinion are no longer a sound purchase. When stacking silver I generally tend to buy relatively undervalued forms of silver and stop buying them when they stop being undervalued, and moving onto the next thing.

In 2010 I bought some 1966 50 cent round coins in good condition for around 7% under spot. They now often fetch a 10% premium to spot, which is a lot for junk silver. You may as well buy 999 silver in larger sizes. I also bought Florins when they were trading at good discounts to spot, whereas now they trade around spot.
For a while after that this year I bought some masterpieces in silver sets which traded at good discounts to spot (between 5 and 15%), they now often trade at spot. I also bought some interesting foreign coins below spot, and some scrap silver antique spoons at huge discounts to spot. I'm still looking for the next undervalued type of silver, but there are few if any bargain varieties of silver to be had in the current market.
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Hi Bargain Hunter , ok sounds like you know and have a similar experience to me.. Good to see my reality isnt so different to others.. PHEW

I can vouch for the trends you have identifyed... the florins at good discounts to spot sounded like great buys.. by chance were they the 1927's? Your talking the pre 1946'ers right?

1for1
 
The way I look at the 66 50 Cent piece is like a stepping stone to other silver coins.

Beginners should definately start off with them and kooks.

The current premium on the 50 Cent piece stems from 2 primary factors.

* Some of them were bought when spot was $40 + and the seller is selling them a bit dearer than they should be.
* Shortage effects.

Once we go past $50/oz and where each 50 Cent piece was bought for 'under' spot than the only factor determining
the premium will be the shortage factor and they should come down in premium and will trade at spot +- 3% at most.


Lastly, during the run up in spot ( prior to the crash at $49.50 end of april 2011 not 1980s hehe ) as silver was
gaining in spot on a weekly basis, the pricing of the 1966 50 Cent piece also contained a 'futures' part in its price.

Every dealer would have noticed that spot was increasing week after week, so they sold at a premium back than as well.

( spot + futures component ) = price of 1966 50 Cent piece - during feb, march & april months
( spot + amortiser component ) = price of 1966 50 Cent piece - after the crash in spot.

When a buyer is making the decisions wether to pay a premium ( or any at all ) for the 50 Cent piece
he/she should ALWAYS look and consider at what premium is available on other types of silver available
at the moment.

but the premium on 50 Cent pieces should always be lower than on any year Kook, Ase, Libertad, Philharmonik, Maple, etc
and premium on most silver rounds should always be lower than on any year Kook, Ase, Libertad, Philharmonik, Maple, etc
 
Once upon a time (About 20 months ago) you could buy a 1966 50 for about $7. Coins would come & go on eBay with no takers. How times have changed. Same with Florins. What was $10 is now $25, that ain't because of the silver price, it's all about Sheeple awareness. Watch out Stackers - They're coming !
 
Made a great beginner coin for me.

Got 70~ of them for what I thought was a good price (at the time) and then influenced me to go and grab a roll of Koalas.

Next looking up the barrel of some pre/post 46 coins.

I think it's just a progression thing with newbie stackers, like myself!
 
Bargain Hunter said:
1for1 I bought post 1946 Florins and schillings at discounts to spot, I didn't buy any pre-1946 stuff.
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Hi, thats a bargain, Bargain hunter. I have heard reports of people picking up 50% and 40% silver coins at discount to spot but i have never done so, i got some really high grade australia and new zealand pre decimal stuff at 10% over spot which is instant top deal, after silver doubled recently i was just loving the trades i was pulling off. My Best Find was a 1936 New Zealand Silver Florin (very low mintage key date).. which i got for around the $5 mark. It's so nice in fact i didnt sell it .

1for1
 
it should go for spot, but looking at recent trends...

in august-october last year 7.50 was available (spot), 8.00 common, ie a 50c premium

presently, I think 11 @ spot is fair, but harder to get - you'll be ringing around frequently

12 is fair - ie a $1 premium per coin

anything above and you should buy kooks, imo

advantage of the 50cent is liquidity, disadv is the gst for dealers

although mintage was ca. 36M, circulated coin was 14M and I don't know how many were subsequently decirculated/melted; possibly that information is around

they are being hoarded, despite the apparent large number still available

not easy to find and the dealers often enough say there is a bit of a craze now
 
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