Colored or painted new coins 1 1

[Mel_in_PNW]

I made a bad impulse buy. I was just looking around and thought I had under bid. Anyhoo, it's mine I like it.

Was wondering: are modern world coins from Canadian Royal or Australian Royal mint worth less if they have been painted post minting?

Are there any good articles on how and where modern coins are painted?

Do the mints (CA, AU, US, etc.) have specific painting contractors they use or are there a lot?

Just curious, thank you!

[JT2]

those bullion coins that have been painted are considered damaged by collectors.  with that being said there is a market for them and are collected.   if you like it that is all that matters.   some of the modern mints have started to produce colorized coins however i do not think that the Chinese new year coins in 2012 were releases as colorized coins.

[VKurtB]

Is that the world famous Myassiss Dragon?

[J P M]

I have seen these  at coin shops. Not my cup of tea for what they ask.

[Mel_in_PNW]

On 7/14/2023 at 12:45 PM, VKurtB said:

Is that the world famous Myassiss Dragon?

I have no idea. It's from Australian mint, that's all I know. It has a P on it ... I'm guessing Perth mint?

[Sandon]

   Most of the painting or coloration of coins is done by private parties outside and without the authorization of the issuing mint by private companies for sale as novelties.  This is viewed by traditional coin collectors as a form of alteration and is unacceptable to them. However, some recent collectors' issues have had some pieces colorized with the authorization of and for sale by the issuing mint.

   The only instance of colorization being authorized by the U.S. Mint was for some 2020 Basketball Hall of Fame commemorative clad half dollars and silver dollars. Per the "Redbook", the mint distributed 32,581 of the colorized clad half dollars (2020-S) and 25,719 of the colorized silver dollars (2020-P). The mint also offered regular versions of these commemorative coins. As I recall, the mint engaged a contractor to do the colorization.

[Fenntucky Mike]

On 7/14/2023 at 4:27 PM, Mel_in_PNW said:

I'm guessing Perth mint?

Correct. They've been churning out "collectors coins" for many, many, years. In looking about, it seems that the Perth mint did produce a colorized 10oz and 1/2oz version of this, as well as a 1oz gilt. From what I've seen this may have been part of a nine coin set, all colorized differently, but I'm not sure it the set was mint authorized though. 

 

[Jason Abshier]

On 7/14/2023 at 2:52 PM, JT2 said:

those bullion coins that have been painted are considered damaged by collectors

I disagree with this statement … only reason is I have seen these type of coins being graded , however the modernized market many many of colorized bullion coins been graded already by both PCGS and NGC… I do not consider them damage I believe they only accept painted coins for grading that been done ONLY by the Mint that made them 

I tend to shy away from painted modern coins  , one time my wife really wanted this peacock coin she was looking around online (although she doesn’t collect coins nor does she care about my coin collection!) … I said I’d get around to buying it “someday” I was busy spending my money on stuff I wanted for my collection , well that was a mistake ! Today they are upward $900-$1000 last I looked … I should of just gotten her one when they were going for $100 when they first came out with them … if she keeps nagging me about it again,  I’m gonna tell her we gotta pawn off that old engagement ring I gave her 26 years ago … I don’t spend that kind of money on modern coinage let alone colorized coins 😂 my coin collecting money too precious to spend on stuff like this 

Edited July 14, 2023 by Jason Abshier

[Mel_in_PNW]

Thanks for all the info. This is very interesting and I'm going to do more research ... and stay away from the coins on eBay LOL.

Thanks.

[powermad5000]

On 7/14/2023 at 8:30 PM, Mel_in_PNW said:

and stay away from the coins on eBay

Not everything on eBay is junk or a scam or ruined. You just have to utilize your self grading skills and only buy from sellers that have a return policy should you get the coin in hand and it is not how it appeared to be in the photos. Sometimes, tilting the coin in hand in different lighting can expose flaws that were not evident in the photos so being able to return the coin and get your money back is necessary to buy on eBay. As well as seller feedback. Anything less than 97% positive feedback should put you on high guard. Also, the amount of sales factors in. Any seller with zero stars trying to sell rare coins should be a red flag. Sellers with 3000+ stars have been around for a while and probably have established a customer base that is satisfied with their purchases so buying from them should be generally ok (but always be on the lookout because some fakes can fool even experienced sellers).

[EagleRJO]

On 7/14/2023 at 5:15 PM, Sandon said:

Most of the painting or coloration of coins is done by private parties outside and without the authorization of the issuing ... This is viewed by traditional coin collectors as a form of alteration and is unacceptable to them. 

According to the US mint coloration of coins is considered an alteration, but does not require thier permission or authorization.

https://www.usmint.gov/news/consumer-alerts/consumer/colorized-and-plated-coins

While coloration of coins doesn't interest me, or more traditional collectors, there are some collectors who find it appealing. To each his own.  Colorized ASEs like the attached are one of the most popular.

The effect on price seems very variable, but generally doesn't appear to significantly affect the value.  There are some sellers unrealistically asking for significant premiums, I guess hoping to find less knowledgeable collectors.  Like $200 for a colorized ASE in one listing, while it's generally available for under $40 or about the cost of one not colorized.

https://bulliontradingllc.com/product/2000-colorized-1-oz-american-silver-eagle-coin/

Edited July 17, 2023 by EagleRJO

[Jason Abshier]

@EagleRJO that’s a good example you showed of ASE that been painted by third party owner/seller … That won’t grade at NGC/PCGS more of novelty item I would’t spend too much on that however not sure how much of a pain? It is to paint that like that with precision… however I’ve seen them before look cool something different ASE are massed produced in large numbers I wouldn’t buy one not my cup tea ….

I’ve seen some colorized coins done by Perth mint and few others mints the coins graded out in NGC/PCGS holders my wife is big fan of Tuvalu rotating charm coins they have a small rotating ball in middle of the coin… I buy them every year for her they have low mintage of (3000) anyways a few of them have that paint (colorized) on them done by the mint …They are raw but I have seen graded samples of them I have no intentions sending hers in for grading … that’s about only colorized coins I have in my collection (well her’s) not really mine I had hard time finding a few of the earlier years like “Yin/Yang rotating Tuvalu charm” “Dragons and pearls”  I had spend little more than I would of liked to spend on (modern coin) just to get it for her it was slim pickings ! I couldn’t find any other for sale at time … If the wife happy then I’m happy whatever goes 

[Mel_in_PNW]

I'm curious then, why was this 2013 AU coin graded by NGC???

 

[Mel_in_PNW]

I paid about $40 for the colored AU dragon BTW, not a huge sum.

[Jason Abshier]

On 7/16/2023 at 10:51 AM, Mel_in_PNW said:

I'm curious then, why was this 2013 AU coin graded by NGC???

 

It’s because the mint that it came from Perth mint? or where ever it’s came from that’s the “standard” they colorized it there’s proof by the mint they did so it was documented as well … that’s why NGC/PCGS accepts them for grading …

when buying “raw” colorized coins ? you have to research make sure you’re buying a coin that been colorized by mint and it’s documented with that respective “known” mint who is offering the coin or bullion for sale… 

[Mel_in_PNW]

Thanks Jason.

[RWB]

If you like them, buy them. Don't expect any coin collector to like them, Plan to lose everything you paid beyond the bullion value.

Very few want altered coins in their collections, and that is what these items are. Would you buy a 1909 cent with an "S" glued or painted on it?

[Jason Abshier]

On 7/16/2023 at 12:27 PM, RWB said:

If you like them, buy them. Don't expect any coin collector to like them, Plan to lose everything you paid beyond the bullion value.

Very few want altered coins in their collections, and that is what these items are. Would you buy a 1909 cent with an "S" glued or painted on it?

There is a market for them already folks are paying way way over melt value for them in 69 and 70 grade being high premiums on modern market … just saying … that’s sorta like saying well a Morgan dollar is only worth its money in silver , when we all see collectors pouring out hundreds and hundreds for a Morgan dollar which by way most are plentiful even in the average 65 grade … they bring a premium because collectors make the market so … I modern bullion coins in low mintages and so on making their own market among collectors that are willing to pay way more than melt value it’s not all classic coins anymore 

[RWB]

I feel it's temporary - a bit like beanie babies and cabbage patch dolls and painted plates.

[Mel_in_PNW]

Thanks for your input RWB. This is interesting and explains why a dealer got so mad at me in 2019 when I inquired about getting a 2oz CA Moraine Lake coin graded.

And the opinion that beanie babies or painted plates aren't worth anything and are just a fad ... um, I was watching Antiques Roadshow the other day. Some painted plate went for $8000. I think painted plates are dull as hell and cumbersome unless you will never be moving in your life but I don't think they're a fad or without value.

And there's some purple beanie baby out there worth $11,000. Go figure. LOL

Edited July 16, 2023 by Mel_in_PNW

[J P M]

On 7/16/2023 at 5:06 PM, Mel_in_PNW said:

Thanks for your input RWB. This is interesting and explains why a dealer got so mad at me in 2019 when I inquired about getting a 2oz CA Moraine Lake coin graded.

And the opinion that beanie babies or painted plates aren't worth anything and are just a fad ... um, I was watching Antiques Roadshow the other day. Some painted plate went for $8000. I think painted plates are dull as hell and cumbersome unless you will never be moving in your life but I don't think they're a fad or without value.

And there's some purple beanie baby out there worth $11,000. Go figure. LOL

Lady Diana Beanie . LoL my wife has one of those among many others.

[Jason Abshier]

Keep In mind “supply and demands” are what drives the market in any collectible area … weather it’s toys , paintings , baseball cards , coins (modern and classic) , antique cars and so on … if there is no demands there won’t be a market 

so to say a market will be a short one ? Who knows … we have newer folks joining our hobbies and today with internet and everything every major mint is pumping out silver bullion rounds they are being gobbled up by newer collectors , I myself collect some bullion coins did I  pay more than melt value?  (sadly yes on some bullion I’ve collected) …. Did I pay hundred and hundreds for Morgan dollars in past or other silver coinage? Yes sadly paid the “collector’s premium” simply because the “market” driven the prices up for it … 

 

Edited July 16, 2023 by Jason Abshier

[J P M]

On 7/16/2023 at 6:40 PM, Jason Abshier said:

Keep In mind “supply and demands” are what drives the market in any collectible area … weather it’s toys , paintings , baseball cards , coins (modern and classic) , antique cars and so on … if there is no demands there won’t be a market 

so to say a market will be a short one ? Who knows … we have newer folks joining our hobbies and today with internet and everything every major mint is pumping out silver bullion rounds they are being gobbled up by newer collectors , I myself collect some billion coins did a pay more than melt value (sadly yes on some bullion I’ve collected) …. Did I pay hundred and hundreds for Morgan dollars in past or other silver coinage? Yes sadly paid the “collector’s premium” simply because the “market” driven the prices up for it … 

 

I don't know of anyone who can get a dealer to give you a ASE for spot price. I have always had to pay more. Not a lot more most of the time $3 to 5 over, some dates a bit more. I was not buying a monster box only buying single date coins also.

[Jason Abshier]

On 7/16/2023 at 7:06 PM, J P M said:

I don't know of anyone who can get a dealer to give you a ASE for spot price. I have always had to pay more. Not a lot more most of the time $3 to 5 over, some dates a bit more. I was not buying a monster box only buying single date coins also.

Dealer needs to make money on anything weather it’s silver bullion , scrap silver , collectible coins whatever the dealer will always have the upper hand… take one back to them they’ll only give you half price or melt value or not accept it at all … however they will be glad to take PF70 or MS70 modern bullion and mark it up way way way past melt value because they know some one is out there will buy it eventually 

Edited July 16, 2023 by Jason Abshier

[Jason Abshier]

On 7/16/2023 at 5:06 PM, Mel_in_PNW said:

This is interesting and explains why a dealer got so mad at me in 2019 when I inquired about getting a 2oz CA Moraine Lake coin graded

Any dealer who gets mad at someone for a simple question? … turn around and walk away!!! RED FLAG that dealer … Most of the dealers I’ve encounter are down to earth people … they take the time to “educate” a new collector or even a veteran collector a lot dealers are very knowledgeable in certain series of coin collecting they spent years and years studying and gaining knowledge … 

[RWB]

If these folks were really clever they would use selectively anodized titanium for the tokens and colors.

This site will help readers get started. https://www.besttechnologyinc.com/surface-finishing/titanium-anodizing-equipment/

PS: I had suggested green anodized titanium for a $5 coin a couple of years ago in a bill that would have also ended cent and nickel production, but it wasn't "political" enough for some House members and got tabled out of boredom, I guess.

Edited July 17, 2023 by RWB

[Reno Raines]

On 7/16/2023 at 7:41 PM, Jason Abshier said:

Dealer needs to make money on anything weather it’s silver bullion , scrap silver , collectible coins whatever the dealer will always have the upper hand… take one back to them they’ll only give you half price or melt value or not accept it at all … however they will be glad to take PF70 or MS70 modern bullion and mark it up way way way past melt value because they know some one is out there will buy it eventually 

I guess that I've been lucky since I've never paid price guide value for any of my pre graded NGC MS70 burnished ASE's so far.

[EagleRJO]

On 7/16/2023 at 9:50 PM, RWB said:

... a bill that would have also ended cent and nickel production

I don't know the point of spending the funds to produce those coins any more, particularly the cents.  What can you buy for a cent anymore.

[powermad5000]

As for my feedback on colorization of coins, to me it is just another marketing gimmick. The ASE's are full of marketing gimmicks with all the labels you would have to get to have a complete "set". At least with Morgans, the VAM's are actual die marriages or die markers and not a Mint gimmick.

I am sure there is a market for the gimmicks because they sell and people are buying them. But what happens to the prices when 20 years have passed and the craze is over? Also, they are mass producing these things so it's not like it is a rarity. 

As I have stated before in this forum, collect it if you like it. For me, personally, I wouldn't spend an AG details 1984 Lincoln Cent with environmental damage and parking lot abuse on one of these gimmicks.

[GoldFinger1969]

On 7/14/2023 at 11:00 AM, Mel_in_PNW said:

I made a bad impulse buy. I was just looking around and thought I had under bid. Anyhoo, it's mine I like it.

We ALL make bad impulse buys, so chalk it up to a learning experience.  Learn from it, and just make sure you excercise CAUTION whenever bidding more than $100 and especially 4-figures.