So-called 'restrike' coins can be controversial, depending on your perspective, and it is all a matter of originality. Generally a mint will produce coins from a die dated with the current year, so coins manufactured today will bear the date '2020.' This seems fairly straightforward. You could assume that any contemporary company striking coins featuring past dates would be acting illegally, or at least unethically. But what if there were no laws preventing the mint in question from doing so, and they used the original die? They could be the very company by whom the originals were struck too. For the investor, one solely interested in the bullion value or gold content of a coin, these details are, if at all relevant, somewhat extraneous.
For the collector of solely newly-produced coins direct from the manufacturer, a 'reproduction' of a historical coin does add a little interest to a purchase. They usually come in handsome presentation boxes with a certificate, all adding to the joy of buying. It is when we consider these objects from the perspective of the more traditional coin collector, that these later productions may have less appeal. Rather than a focus on the gold weight value alone, these individuals enjoy the story of coins, and their true historical place. For them, these coins may simply be 'copies.'
From the perspective of an auction house, these coins do in fact tick all the boxes, no matter the buyer. They are worth their weight in gold, literally of course, and they can come with those tempting presentation boxes. They too have a place in history, a more modern history, one of the ongoing story of coin production. Occasionally these coins come set into rings, necklaces and brooches, adding yet another realm of collecting into which they fit rather nicely - jewellery. Lot 10 in The Coins & Banknotes Auction on 2 April is a restrike gold ducat dated 1915, it is mounted to a pendant, on a chain. Estimated at £400-500, no matter the angle, this lot could find a place in any collection.
Do you have coins or banknotes to sell? Now is the time, with prices at an all-time high. Come along to our Glasgow Galleries anytime Mon-Fri 8.30-5pm, call Sarah on 0141 810 2880 or email firstname.lastname@example.org.