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Modern Gold Commemoratives in Long Beach
May 29, 2009

Heritage Auiction Offers Some Special Odds and Ends

To wrap up my coverage of some of the highlights of the super Heritage World Coin Auction going on right now at the Long Beach Coin Expo, I'd like to touch on a few modern gold commemoratives worth watching. These are coins which are rarely encountered for sale in the world coin market and so price guides and estimates mean much less than desireablily and demand.

First is a coin that is highly sought after and almost never offered since it's primary market sale; the 1996 gold Rouble of Belarus. this coin is offered as lot 22541, with an opeing bid of $750 and a web bid of $1100 at time of this posting. The catalog notes that the SCWC value of $4500 is overly optimistic, but in the home market everyone is looking for this coin. The closing bid will give us some good data for adjustments.

Second is an exceptionally rare modern issue specially designed and struck to honor diplomatic relations between Arab Saharawi and Venezuela listed as lot 22548. The reverse of this coin features Bolivar and El Uali, while obverse displays armas of both countries divided by a pillar. It's got an interesting past, a high denomination, 40,000 Pesetas and a low mintage of just 90 pieces. Opening bid was $350, with the top web bid at $650. Catalog value is at $1,000 for this one - so here too we may see some adjustment post closing.

Finally keep an eye on the three Yemen Republic gold commemoratives set as lots 22830, 22831 and 22832. These are not often seen for sale. The roaring lion 2 Riyals is quite highly sought, as is the lovely 1969 50 Riyals illustrated at the beginning of this posting. Opening bid for the standing Lion was at $750, high website bid was $1,900, opening for the roaring Lion was $600 with web bidding ending at $1,800, opening for the 1 Riyal with Camel was $300 with web bidding rising to $750. All should see active floor bidding before the hammer falls, especially with spot prices on gold moving up all week.
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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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