What to do with 40-something year old coins?

[attrayant]

I've stumbled upon some old coins while going through some drawer chests. They were so badly tarnished that at first I wasn't sure what they were. I've managed to clean them up but now I wonder if they're even worth face value since I've never seen any circulating.

The most common one I've found is the five baht coin from the late 70s. Others are still pending identification but are likely from the same period. Will retailers accept these? Should I take them to the bank? Are they worth millions in collector's value? I'm not holding my breath on that last one.

[infinity11]

Often wondered the same about numismatic value of old coins.

Also the value of the satang coins due to the metal content.

Please keep us informed, thanks

[Chonburiram]

A good way to clean coins is to brush them with an old tooth brush and some toothpaste ( Dont do this with historical/ antique valuable coins! These are for the experts).

Your coins can still be used but I think they are to good to spend for shopping; clean/polish them and give away as presents.

Most Thais (and Farangs as well...) I know have some exotic/foreign/old money in their wallet, they never change or spend for superstition reasons.

Edited April 4, 2015 by Chonburiram

[CharlieH]

Drop them in a glass of coco-cola, you'd be amazed how they clean up.

[NickJ]

Dont clean old coins.....

i used to go to Jj"s market and spend hours going through the old buchels of currencey.........just to pluck out the toilet tissue thin US Dollar notes.....for 10 to 20 Baht ea...........made a fair amount......when i turned them into any bank at home....

[Thongkorn]

Drop them in a glass of coco-cola, you'd be amazed how they clean up.

Try Gin , don't drink it just soak the coins in it.

[attrayant]

Well I've already cleaned them. They're not that old so I don't expect them to have any collector's value. Most of them are cupronickel which cleans up well with a dilute mixture of ethylene glycol & methanol. Methanol is good at breaking down oxide-based tarnish. Acids (vinegar/soda) would also work but that would attack the base metal as well.

Unfortunately they had been tossed into a drawer full of assorted keys, so some of them have suffered from irreversible galvanic corrosion. I've asked the brother in law what the coins were doing there and he thinks his parents were saving them either as commemorative coins or mementos. I've explained to him that tossing valuable coins into a big box of assorted metal isn't the best way to preserve them; in fact it may have even hastened their deterioration.

I guess I'll take a few to the bank and see what they say.

Edited April 4, 2015 by attrayant

[Beetlejuice]

If the OP`s coins were of any value, than he has probably wiped off their value by cleaning them.

Valuable coins, meaning those of interest to collectors have to be cleaned by experts. Never clean collectable coins, is what they say in the trade.

[Satcommlee]

Get on ebay! Have a look what they are worth.

[kowpot]

The baht was worth more in the 70's than it is today. It was worth about 20 to the dollar. So I guess in all this time, what you have has lost some of it's value. Unless of course they are of value to a collector. The funny thing was, I could buy more stuff for less baht. So I guess everything is relevant.

[attrayant]

Ebay is a good idea. Here's a listing of two of the coins I've found:

http://www.ebay.com/itm/nickel-THAI-ANTIQUE-BANGKOK-GARUDA-COIN-METAL-SILVER-COLOR-5-BAHT-un-circles-/171714710076?pt=LH_DefaultDomain_0&hash=item27fafe8a3c

Almost 300 baht for a 5 baht coin... not bad! I would say that my coins are in slightly or moderately better condition (after cleaning) than those shown in the listing.

And this one: http://www.ebay.com/itm/50-year-Old-Thai-Baht-Coin-Collectors-Item-Bhat-/221231992932?pt=LH_DefaultDomain_0&hash=item3382745064

That listing is asking 650 baht for a one baht coin, but mine is in better condition because the detail in king's face is still present on mine.

I wonder if these will really sell at those prices.

Edited April 5, 2015 by attrayant

[Suradit69]

If you're really interested in learning more about Thai Coins, the best source is Standard Catalogue of Thai Coins by Veerachai Smitasin.

I agree with others, you should never clean old coins. If they had any value as collectibles, that would greatly reduce or entirely erase it.

Most of the common coins issued during the present reign don't have outstanding values. There are exceptions. A 1957 10 satang coin made of bronze could fetch Baht 10,000, for example, in uncirculated (and uncleaned) condition, but generally you need to go back to the reigns of Rama IV and V to find value.

But, the higher value coins from that era have also been forged with surprising accuracy. Copies of this coin, for example, which fetched Baht 70,000 a few weeks ago in Bangkok seem to exist in abundance in the villages. I've been brought a number of them as well as other high-value coins of that period... all forged copies. The designer of this particular coin, whose "signature" appears on the coin is A. Patey. On most of the forged copies floating about, the "P" in his name is backwards.

Edited April 5, 2015 by Suradit69

[taiping]

Suggest getting a copy of the 2014 Standard Caralogue Of Thai Coins by Veerachai Smitasin (0-2233-7337, 081-4069725 according to the book cover).

If you like you could send me the coin details and I'll look them up for you.

Or you can go to http://www.ngccoin.com/ and look up the value online.

For example, the first coin you mentioned at http://www.ngccoin.com/price-guide/world/thailand-5-baht-y-111-2520-2522-cuid-54900-duid-148585

I'm interested in Thai gold coins rather than the run of the mill issues.

Edited April 5, 2015 by taiping

[ezzra]

Most of the Thai coins are good for one thing, to prop up a wobbling table's leg....

[maderaroja]

Cleaned coins are no longer of value to collectors!

[attrayant]

Are you saying that those ebay listings asking for 60-600 times face value would fetch even higher prices if they were tarnished and covered in crud? Fine, I'll just toss them back into the rust bucket with the assorted keys and nails.

I admit that I'm not a collector. How does a potential buyer know if a coin has been cleaned or if it's simply been kept in an environment where it has not significantly tarnished? Provided the coin hasn't been cleaned with an acid like vinegar or an abrasive like toothpaste.

Edited April 5, 2015 by attrayant

[shaurene]

Drop them in a glass of coco-cola, you'd be amazed how they clean up.

You took the words right out of my mouth. So what is Coke doing to our body.

[dotpoom]

A good way to clean coins is to brush them with an old tooth brush and some toothpaste ( Dont do this with historical/ antique valuable coins! These are for the experts).

Your coins can still be used but I think they are to good to spend for shopping; clean/polish them and give away as presents.

Most Thais (and Farangs as well...) I know have some exotic/foreign/old money in their wallet, they never change or spend for superstition reasons.

Or leave them soaking in a drop of Coca-Cola.

[maderaroja]

Are you saying that those ebay listings asking for 60-600 times face value would fetch even higher prices if they were tarnished and covered in crud? Fine, I'll just toss them back into the rust bucket with the assorted keys and nails.

I admit that I'm not a collector. How does a potential buyer know if a coin has been cleaned or if it's simply been kept in an environment where it has not significantly tarnished? Provided the coin hasn't been cleaned with an acid like vinegar or an abrasive like toothpaste.

A collector knows what to look for when he/she suspects that a coin has been cleaned and will consider the cleaned coin to be of lower value.

There are uncleaned, but pristine condition coins that are much older than 40 years. Those are the coins that are worth 60-600 over face value. I have some, myself.

[attrayant]

Or leave them soaking in a drop of Coca-Cola.

Coke sure is getting a bum rap in this thread.

Look, there's nothing particularly cleansing about soft drinks. Most of them have a pH of between 3-4 which is the same as apple or orange juice. The carbonic (or citric in the case of juices) acid eats away the oxidation, but it also eats away a small amount of the coin itself. This is fine if you're not worried about possibly lowering the numismatic value of the coin. I won't even mention toothpaste - you might as well use sand paper.

If you don't want to damage the coin itself, use hydrocarbon-based solvents instead. Ultrasonic cleaning might be the best way, since it's used to clean much softer and more precious metals used in fine jewelry.

If you think you've got something that has real historical value, then it's probably best to have a professional look at them first.

[flexomike]

Ebay is a good idea. Here's a listing of two of the coins I've found:

http://www.ebay.com/itm/nickel-THAI-ANTIQUE-BANGKOK-GARUDA-COIN-METAL-SILVER-COLOR-5-BAHT-un-circles-/171714710076?pt=LH_DefaultDomain_0&hash=item27fafe8a3c

Almost 300 baht for a 5 baht coin... not bad! I would say that my coins are in slightly or moderately better condition (after cleaning) than those shown in the listing.

And this one: http://www.ebay.com/itm/50-year-Old-Thai-Baht-Coin-Collectors-Item-Bhat-/221231992932?pt=LH_DefaultDomain_0&hash=item3382745064

That listing is asking 650 baht for a one baht coin, but mine is in better condition because the detail in king's face is still present on mine.

I wonder if these will really sell at those prices.

Not a chance, been collecting and selling on e-bay for years, these guys are just dreaming with there prices. Your coin is worth face value only.

[Argonaut]

Never ever clean coint with other than a dry soft cloth. Always handle them with care. Never touch them with your fingers on the flat sides. Seperate them and keep them in clothing. One day they might have value for your kids...

[Catoni]

Cleaned coins are no longer of value to collectors!

When dealing with coins minted in the past couple of hundred years... cleaning a coin will lower it's value... but not totally....

Example.... a U.S. 1893 S Morgan Silver Dollar in perfect condition can be worth more than $500,000.00

But would you let it go for only $50.00 or $100.00 bucks if it had been cleaned and was only MS_64 ? ?

Let me tell you.... it wouldn't be worth $500,000.00. Yeah... definitely lose a lot of value because it was cleaned..

But it would still be worth at least $60,000.00 - $70,000.00

And that... my friend.... is nothing to sneeze at for a single silver dollar.

So how much value is lost from cleaning a coin depends.... on the coin, on the number that were minted, on how harsh a cleaning it had..... the demand in the market place for that particular type and year of coin... .... There are a lot more things that go into the value of a coin to a collector than just whether it was cleaned or not.....

And in some cases.... like ancient coins covered in hard material over a couple thousand years.... it's actually necessary to clean the coin to even get an idea of what coin it it.

More modern coins are the ones you don't want to clean.... but even then.... if it is a very rare coin with low mintage number, and high demand...... it can still be worth a small fortune..

[poweratradio]

Often wondered the same about numismatic value of old coins.

Also the value of the satang coins due to the metal content.

Please keep us informed, thanks

Interesting points but the OP clearly stated he cleaned them up and I have always known that to be a big No No from a numismatic stand point. However that message is in OVERKILL mode on every post here. I do love the coca-cola suggestion for just coin face value though.

Edited April 5, 2015 by poweratradio

[redandyellow]

I have a 40 something year old wife, holding up as well as your erstwhile coins

Best

[whaleboneman]

Most of the Thai coins are good for one thing, to prop up a wobbling table's leg....

Don't get caught doing that.

[mike324]

probably worth couple hundred baht at most as the coin is not in mint condition

[Varangkul]

I have a 40 something year old wife, holding up as well as your erstwhile coins

Best

Does Coca-Cola come into the equation, by any chance?

[Acharn]

Drop them in a glass of coco-cola, you'd be amazed how they clean up.

Try Gin , don't drink it just soak the coins in it.

Interesting. I've used vinegar with good results. Can't imagine how gin would work. The coca-cola always sounded like an urban legend to me. I've seen old bills at a couple of pawn shops. Don't know if all pawn shops trade in them or not, but it might be worth checking. I've got a couple of one baht bills, at least one five baht bill, and at least one ten baht bill. The one baht bills were taken out of use before I came here thirty some years ago, but the five and ten baht bills were used on a daily basis.