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Cyprus 100 Mils  1955 to 1957
Cyprus 100 Mils 1955 to 1957

Wow. Collectors must know something that catalogers don't on this modern coin from Cyprus. Actual buy and sell values are much higher than catalog values for this coin. This is very unusual. Almost always, it's the other way around. Usually catalog prices are high and actual buy and sell prices are low. Not so with this coin. We have to give the catalogers some time to catch up!

The coin is made of copper nickel, so there is no precious metal content. Even so, the values are way high, especially for the 1957.

We ignored the current coin catalogs and did our own analysis of auction results. Check these prices:

100 MILS DATED 1955
worn: less than $1 US dollar approximate catalog value
average circulated: less than $1
well preserved: catalogs say $1, but actual retail prices are close to $5
fully uncirculated: catalogs say $2, but actual retail prices are close to $25

100 MILS DATED 1957
worn: $2 US dollar approximate catalog value
average circulated:: catalogs say $10, but actual retail prices are close to $80
well preserved: catalogs say $15, but actual retail prices are close to $200
fully uncirculated: catalog say $50, but actual retail prices are close to $320

If you have one of these coins, with no problems such as scratches, stains, nicks, cleanings, gouges, and the like, figure a dealer would offer you about one-half retail value to buy your coin. That's pretty neat!

Coin: 17002 , Genre: Colonizers and Colonies
Requested by: ADA, Wed, 14-May-2014 12:35:45 GMT
Answered by: Paul, Thu, 15-May-2014 02:36:59 GMT
Reviewed by CoinQuest. Appraisal ok., Tue, 03-May-2016 00:49:06 GMT
Requester description: 1955 ON ONE SIDE IS THE QUEEN ELIZABETH THE SECONDAND ON THE OTHER A BOAT / SHIP THE GOVERNMENT OF CYPRUS - ONE HUNDRED MILS 100 MILS
Tags: cyprus 100 mils mills mil one queen elizabeth boat ship government hundred ones queem queens elizabith elizabth elisabetha elizabeths elisabeth eliabeth elisabet elizabet elizebeth elizabeh elizibeth lizabeth saling sailing steamboat clipper warship sailboat sails masted ships boats outriggers vessel sail outrigger coverment goverment

Comments

500 000 of this coin were struck in comparison to 2 500 000 of the 1955. Of the 1957 coins only 5000 were circulated (1%), another 5000 were sold to collectors in luxurious wallets numbered 1 to 5000. The rest were melted down by the Royal Mint. This was the last colonial coin in Cyprus. Hence the large difference in price ... - Michelle blaiberg
Thank you Michelle! - CoinQuest (Paul)

  

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Tue, 06-Dec-2016 00:47:31 GMT, unknown: 10998353