Coin and Paper Money Collecting/The Hawaiian Mint
QUESTION: Hi there David :)
I have recently come into the possession of a small gold colored coin (gold or not I do not know)
It is from "The Hawaiian Mint". From what I have been able to find out about this coin ... it was produced in 1975-76 (it has no date stamp) one side has the words "The Hawaiian Mint" around the edge ... with a large dollar sign in the middle ... the obverse has a head (bust) of a Hawaiian Chief. Around the edge are the words "Kamehameha 1" and "Hawaii". I found a link to the web page ... but there is no more information on the coin ... as apparently the US Treasury raided these guys and shut the operation down. Confiscating millions of dollars in precious metals (gold, silver and platinum) as well as tons of coins.
The web site and picture and information on the coin I have is this - http://rhm.herobo.com/
according to this page (a little over halfway down), the coin I have depicts Kamehameha the Great.
Also what I have been able to find on the internet ... the value of all coins from this "Mint" shot through the roof when they were raided and the bulk of the coins confiscated by the US Government.
The coin I have is in mint un-circulated condition ... what is the thing worth please!!! :)
ANSWER: Hello Steve,
Here is some info on the "Royal Hawaiian Mint"
"From 1995 to 1997 they were at King and Kalakaua, in 1997 they moved to the International Market Place.
The mintmaster, Bernard von NotHaus, retired in 1998 ( launch the Liberty Dollar program) and leased the RHM to Polynesian Resources Inc.
There wasn't much activity coming out of the RHM for the next 5 years.
The RHM is now leased by Bud Gregory and his wife, Jackie, except the RHM products aren't produced in Hawaii anymore, they are being produced by the Sunshine Mint in Coeur d'Alene, Idaho. The mailing address for the Royal Hawaiian Mint is 225 N. Stockwell Road, Evansville. IN.
Bernard von NotHaus is mintmaster again, and is selling the 'Hawaii Dala', basically the 'Liberty Dollar' target-marketed toward Hawaiian merchants and tourists."
I am not sure what you meant when you said that the values "shot through the roof" when they were raided. Always be very very concerned when you are given emotional information to support the value of anything. The crowd that follows the Liberty Dollar and any items that are going up in value due to the government or the end of the world is so very easily manipulated. They don't read deeply or investigate very much. They are easy prey for anyone that pushes their hot buttons and government confiscation is surely one of those hot buttons. The reality is that the value of these items fell off a cliff after they were raided but if you were stuck with a few hundred or a few thousand of them you would claim that they were going up in value to get out from under them.
A quick check of recent eBay sales shows us that these coins sell for a bit over melt. They get the Hawaii premium as there are collectors for items from Hawaii all over the world. Most recently the 1 oz Silver coins have been selling for about $27 - after fees the seller gets about melt value.
These coins are in the category of novelty coins and while some might grow in value they are tough to sell, no legitimate source tracks their value and they will surely be counterfeited if their value does increase because there is no governing body who would enforce any law and prosecute the offenders. Many of the Liberty Coins that I have seen appear to be counterfeits.
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QUESTION: Thanks for that David :)
I did find and read much of what you wrote while I was trying to research the coin I have ... so what I have is a Liberty Coin ... is that correct?? and is it gold or a mix of metals? My biggest problem in trying to get information ... is there seems to be none out there other than the website I found and a picture and short bio on the Hawaiian Chief whose bust is depicted. It gives no information as to what value was supposed to have been attached to the coin ... though again according to the website and the subsequent trial, the argument was that the coins were covered by a held bullion value. What credibility that goes with this statement I have no idea lol.
So what do I actually have?? Do I want to try and sell it ... or just throw it away??
Without seeing your coin its difficult to tell you what you have. There are lots of these on eBay so I would direct you there for a comparison. If the coin is not marked with its purity rating (.999 Fine silver etc..) then you can assume that its a just a novelty coin.
They sold these for $4.99 to $9.99 depending on when it was actually sold. If it is the 1 oz silver one the value would be closer to $24.
I would try to sell it on eBay.