(412) The Mexican Coin Answer Man: Volume 1 Issue 4: Last Revision: 08/31/05
Our Two Most Frequently Asked Questions:
One of the neatest things about the Mexican Coin Magic website is finding new Mexican coin collectors that we didn’t know before from all over the world. Many of these collectors are old-timers, who have collected for many years, but a few are brand new collectors and they provide the most exciting and rewarding part of our endeavor. They have countless questions, just like we did when we first started.
However, the two most often intelligent questions asked are:
Both questions are the substance for collecting Mexican coins, and are worries for even the oldest and most seasoned veteran. The first question can be answered rather easily; always buy the highest-grade coin you can afford, when multi grades of an individual coin are available.
The second question is more troublesome to answer. Years ago, once I started getting serous about collecting Mexican coins it didn’t take me long to realize there were problems trying to determine what coins were common and which ones were rare. It also soon became apparent that even though many catalogs listed the values for almost all in grades from Fine to Uncirculated some were simply unavailable in grades over Fine to Very Fine.
Being in the computer business, I soon started using a computer spreadsheet for my coin collecting. I tried devising a formula for determining the value of the Mexican Republican 8 Reales and 8 Escudos. After talking to a statistician on our staff I understood that what I needed was a giant database of all of the past sales in order to arrive at what the current values and rarity of these coins. This was the reason I began the FoxLair Sales and Population Survey©; I needed this data to plug into my value charts. After many years of hiccups and false starts I finally devised what I thought was a good system. This of course was in response to the “Code of Silence” that still exists in Mexican Numismatics. Over the years I have shared many things with other collectors and dealers I supposed were my friends, but until now I have never shared these charts with anyone because they were my personal buying guides.
Now because I’m no longer an active collector and buyer I have decided to share them with the entire Mexican Numismatic Community. This is another way of cracking the “Code of Silence”, which I personally feel has retarded Mexican coin collecting. Please remember these charts have been and are my personal guide to determine not only what prices I was willing to pay, but also to find the bargain buys. In other words, if a coin is priced lower by grade and rarity than shown on my chart it indicates a serous buy potential for me. Over the years I have constantly updated the data in these charts and have made significant changes. Oh bye the way, this was not an original idea, I stole it from another author Dr. William Sheldon who used something similar for large U.S. Cents. I hope you find these charts useful and of course you can ignore them or make your own.
The Latest Comments about Mexican Coin Magic:
From EB, a reader in Mexico, “Hope Emily passed you by without any major problems. Last time we spoke I had only read all of Volume 1- Issue 1, after we spoke I noticed that there was a lot more to your web page and now I’m through Volume 1- Issue 2. I also think I’m starting to be a Numismatic and not just a collector.
I thought I had, for a starter; a good library going but now I realize that just like the coins themselves, there are a whole lot more books and catalogs that I need to get.”
A California reader writes, “I enjoyed your website, the comments about the Eliasberg sale (which were true in my opinion, as one who was there) and your general respect for Mexican coins and history. At any point have you run any data or commentary about the reputed Carlos and Johana 8 Reales sold by the Goldbergs for a reported one million dollars? Thank you for your obvious honest interest in your hobby.” Freeman Craig
J.D. from the Midwest writes, “Just finished reading the 3rd edition, when I got your announcement. Enjoyed it, especially the detailed article about the 1990 Hoard Auctions. I missed most of these myself and only learned about the 1990 auction long after the fact.
I’ve printed out the items for sale listings, as they may have something I want.
Just received my copy of the ANS’s new book on Cobs and their mints. Will be spending time reading thru it this weekend. How did TNA go? Oh, just got Long’s new auction catalogue and Heritage’s June sale. There are a couple of 8 E’s in the Long Catalogue that you want to look at. More later.”
Answer to J.D.: The article you read, about the Sotheby’s Hoard Sales of the 1990s, was just Part 1 of this long and very mysterious tale. Later, we will have a lot more about these sales and an analysis of the coins in them and hopefully some more clues to the original origin of the Hoard, or at least some speculation.
J.D. is a great gentleman and real Mexican Numismatist, he has already sent me several interesting sales of coins I didn’t have and articles. Hey J.D. do you have anything you want to sell? Or are you only buying at this time? I didn’t get to go to TNA this year, so I will have to get one of the attendees to write a report.
J.D. Kirk Menczer has come up with a great idea for next year’s TNA … he thinks because Texas is sorta in the middle of the U.S.A. and TNA is normally in mid-May, that all us Mexican Coin Bugs should plan a get-together! Being a past president of TNA, Kirk thinks he can get our meeting to be part of a formal program. With a year to set things up, would you and any other collectors want to make a presentation about your areas of interest? Maybe we can get Mike Dunigan to sponsor a dinner afterward? Both Mike and his wife Nina, and believe me she’s much better looking than Mike, already play host to a get-together for Mexican coin collectors attending TNA. Kirk also has some connections in Fort Worth for good hotel rooms … cheap.
So what do ya’ll think? Who among you would like to attend a May 2006 Mexican Coin Conclave-Roundup in Cow Town?
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