Expert: PAPAJACK - 10/17/2008

Question
I have a Kennedy proof set Date 2001 in wooden case with two coins one for John and One for Jackie. They are sealed in plastic and bear a $10.00 value. They are gold or gold plated. Do you know anything about these? Also about the value.
Thanks

Answer
Hello Gary,                        

These are not officially released coins since they are not able to be spent in Liberia.  They are made as a coin is made and sold as a collectable.
But their value is questionable. They are usually sold as a novelty rather than a numismatic item.

All coins must be issued by a government for use as trade in their country. And they will have the governments own denomination on the coin. As well it must be accepted for circulation in the country of origin.

North Marianna Islands and others also have done series of coins in proof one ounce silver. Some are Plated in gold, some painted or enameled.
Traditionally these coins do not increase in value. Since they are never put in circulation they should hold their purchase price.
The medal collectors (who are not always coin collectors) also usually purchase them whether for the designs on each coin or to complete a theme. (Birds, Fish etc…) These items sell from $8 to $30 dollars in different packages.

I must also mention companies like the Franklin Mint Company usually flood the collector market with these items. This leaves less of a secondary market for the resale value and depresses their worth.

They are best considered as MEDALIC ART in coin Metal Form. Valued this way they may sell at the issued price plus a premium.  Check the internet listings for silver art bars or rounds.

Off hand I know Bermuda, Liberia and Marshall Islands mint and sell coins denominated in us dollars as collectables. Like Palau they do it for a profit and the natives of these nations don't spend them and they are not legal tender in the USA and not accepted for legal tender in their own country.

I'm sure there are other nations I can't think of now making these novelty coins as well.

Good Luck