Fiasco6
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Hey yall, seems like everyone has a great deal of questions... I'll try to get to all of you, but first off...
@kzooglad had the top upvoted question, if I have any reverse situation stories. Specifically where someone had no idea they had something valuable and were totally surprised. This was actually the year before I began working here, but my favorite story that has happened at this shop.
So here is the story of the Cigar box full of Krugerrands...
A women came in some years ago (8 years ago?) with a cigar box, she said it was full of foreign coins. She began to tell a story of her dear Grandfather that she cared for in his final years and how close they were for her whole life. She then told us of what he left after he passed. Her wicked sister got his beautiful house. Various family members that never really treated him right got the cars and jewelry, etc. But all he left her was this cigar box full of foreign coins... She felt shafted, upset and sad because of how close they were that she would do this to her. Well, we opened the box (and it was full) all of there "foreign coins" she was talking about were 1 ounce gold South African Krugerrands. (I cannot recall the exact number but it was about 125 coins) The coins were worth approx $1,200 each. She almost fainted. Her dear grandpa knew exactly what he was doing.
This story is about 8 years ago. About 3 years ago, she made a return and I was able to meet the famous cigar box of krugerrands women. She was real sweet.
TLDR: Women thought she had junk, turns out it was over $150k in gold.
Shumani
That's the best grandpa prank in history.
DidgeryDrew
I'm an avid metal detecting hobbyist. Finding a Krugerrand is on my bucket list.
Fingurian
It was just Kyles jewgold
NEINTOES
My grandad left myself and my family 5 of them.. twas glorious..
MikeinSoCal
I've never purchased coins before. Is purchasing proof sets from the mint online a good idea, if I'm hoping to make a small return?
Fiasco6
its like playing the lottery, if the set doesn't go better, you lose.
caffeineandcreatine
"I call them kreigerrands"-Algernop Kreiger
Jacko707
i finally get that joke
fishgill
My grandfather gave us Kruegerands for our weddings. They've been lifesavers
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Fiasco6
my inbox is full of them
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Blendur
It's nigh impossible to nail down numismatic value without seeing coins in person. That's why really valuable stuff needs to be slabbed.
momoneymopain
But if she did sell them, how much would she realistically get? And what would be the best way to sell them?
hawkesnightmare
Gold has fallen in the past couple of months, but if she sold at its highest point this year, she would get 170k and change. I don't know 1/
hawkesnightmare
about places to sell them, most likely the coin shop itself. The shop can then either sell to others or cash in on the bullion value.
momoneymopain
Good to know thanks
mordewolt
Aren't you supposed to liquidise those coins in the bank if you want the best returns?
Blendur
Very generally, yes. Precious metals yield a very poor ROI. They're excellent at holding value, though.
theartofmath
Important question: are all Kruggerands worth $1,200? I have about 10 large gold coins that say "Kruggerand" on them from my opa.
Blendur
Krugerrands are minted in 1, 1/2, 1/4, and 1/10 troy ounce. Value varies according to the spot price of gold, which is a bit low right now.
Fiasco6
kitco.com to see what spot is going for. a good buy price is $50 to $30 under that price
aDefenseless9yearOldGirl
Somebody call Riggs and Murtagh
IJustLikeToArgue
"Diplomatic Immunity!"
orcavsgreatwhite
Ha ha ha
Joylove
*Immuniteh!
TheBigOFace
Has just been revoked!
PotassiumLover
Which coin has the most nutritional value
montegarde
Gold bullion is good, because you can use it to make gold stock, for a soup or a stew.
Dahliaisahedgehog
Chocolate coin!
Fiasco6
The namco arcade tokens, you can eat tons of balls and fruit, well, as long as the ghosts dont get ya first!
Syaoron
Damn, that was clever
grumplestiltzkin
125 coins @$1200ea is $150k. Unless he lived in a shithole the person who got the house got a much better deal.
azsharasrents
Perhaps the home still had somewhat of a balance?
hepcat10
Depends on where you live. A $150k house in NYC is not the same as a $150k house in Dayton Ohio
hawkesnightmare
Not true. I have a great house in a great area that is only ~180k. The price of gold has skyrocketed in the past ten years.
grumplestiltzkin
So youre admitting that your house is worth more and that the price was even lower than 1200? ...do you know how math works?
hawkesnightmare
I'm saying that my house in the best part of town is only a little more than she would get from selling her coins.
hawkesnightmare
Plus selling a house is a lot harder than selling gold.
Clevererusernameiscleverer
woman's an idiot if she didn't recognised gold bullion.
WisconsinHome
You have no reason to insult a grieving woman
flamingflamingo
Okay. Anyway those look like coins to me.
Clevererusernameiscleverer
They are. They were/are legal tender, too.
uponstrangeshores
This is true. It even says "1 oz of fine gold" on the front.
Clevererusernameiscleverer
Indeed.
CaptainInvictus
Just because something says it's a thing doesn't make it actually that thing. It could've been fake for all she knew.
uponstrangeshores
It looks like gold. It says it's gold. It has an easy-to-google name. It would be very hard to be surprised that it's worth a lot.
Clevererusernameiscleverer
If you're sitting on potentially hundreds of thousands of dollars with of gold, I'm pretty sure you'd get it tested. Kruggerrands also sell
Clevererusernameiscleverer
For way more than the gold spot price.
WisconsinHome
She did- she went to the coin shop
noiretbleu
What's the story on the coins though? And how would one come to possess an entire box of them. We must dig deeper.
elrey52
Her grandpa was originally married to Rika van den Haas before she cheated on him with Martin Riggs.
uponstrangeshores
You can buy them. From the reserve bank as far as I remember. Bloody expensive obviously. The come in 1/8s, 1/4s, 1/2s and full size I think
Fiasco6
No 1/8th, but there is a 1/10th. You get ripped off on fractional gold tho
uponstrangeshores
Ah right it was the 1/10ths. Used to have a few of them.
Platypusmaster
He probably replied to the emails from the sweet Nigerian prince!
hqu17
Our sweet prince.
RyanxRoman
Damnnn that is good one. Actually LOL'ed
Aibell125
There was an expedition unknown episode about an entire trainload that was lost. I'm going to believe her gpa found them
Fiasco6
Krugerrands have been an international gold trading piece since the 70s. He prob just bought them over the years
mt77932
I like to think that he was an international spy and that was how he got paid.
GlorfindelOfGondolin
Like those coins in John Wick
DrPepper523
First thing I thought of
noiretbleu
Invest in gold you say. Straightforward answer I like it.
Eogos
Someone get Joel
beautifulwatermelown
This is wayyyyy more common than most think. Old people have gold bars packed around their houses just in case the world ends.
xfumo
My grandmas and my mom do this, can confirm. They were also refugees, so smuggling jewelry out was the only way to carry their riches.
weallservetheoldone
They may have used sparrows to carry out each coin.