Author Topic: Niue: More Pseudo Coins  (Read 1948 times)

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Offline Bimat

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Niue: More Pseudo Coins
« on: August 11, 2011, 07:51:46 AM »
Tiny island nation gets Star Wars currency
Published Thursday, August 11, 2011

The tiny Pacific nation of Niue is having a new set of coins with Star War characters emblazoned on them.

However, the 2000 residents of Niue, which uses New  Zealand currency is unlikely to use the $NZ2 coin for their regular shopping as it is worth way more than its value, Australia’s Herald Sun reported.

The legendary film series - which has influenced literature, music, toys and popular culture for decades – is set make its first appearance on legal tender by November this year.

The coin set, which includes eight one-ounce silver coins and 10 silver-plated metal coins, has colour images of Luke Skywalker, Princess Leia, Darth Vader and other Star Wars characters.

The Niuean government effigy will be embossed on the coins and the heavily aid-dependent nation will get an undisclosed royalty payment from New Zealand Mint for its involvement in the project.

The set will retail for about $450 and is expected to be hugely popular with both coin collectors and Star Wars devotees worldwide.

Only 7,500 copies of each coin will be made, with the first sets to be made available in November.

Source: Emirates 24/7
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Offline villa66

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Re: Niue: More Pseudo Coins
« Reply #1 on: August 13, 2011, 03:57:23 AM »
...its first appearance on legal tender by November this year....Emirates 24/7

I won't be rushing out to buy these coins, but if the article is correct and they are legal tender, then it doesn't seem right to rate them as less than what they are: coins. If they have to labelled, my vote is for the tried-and-true label of "NCLT coins."

 :) v.

Offline chrisild

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Re: Niue: More Pseudo Coins
« Reply #2 on: August 13, 2011, 10:36:41 AM »
Yes, "NCLT" may be correct, but many people - especially those whose first language is not English - will not know what that abbreviation means. For me a coin is a means of payment. But if a coin is issued with the sole intention of selling it to collectors ... well, then it makes sense to have a handy term which makes the difference obvious.

You could call them "collector coins", as it is done in the euro area. Another option is this "pseudo coins": yes, issued by (or in the name of) some government; no, not actually in use. In English, "trinkets" would be a good term for such issues too. ;D

Christian

Offline UK Decimal +

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Re: Niue: More Pseudo Coins
« Reply #3 on: August 13, 2011, 12:18:28 PM »

Christian, your definition of coin agrees with Oxford Dictionary Online.

Who's going to write to all the mints etc., who produce NCLT and call them coins?  >:D

Bill.
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Offline villa66

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Re: Niue: More Pseudo Coins
« Reply #4 on: August 15, 2011, 01:22:43 AM »
Yes, "NCLT" may be correct, but many people - especially those whose first language is not English - will not know what that abbreviation means. For me a coin is a means of payment. But if a coin is issued with the sole intention of selling it to collectors ... well, then it makes sense to have a handy term which makes the difference obvious.

You could call them "collector coins", as it is done in the euro area. Another option is this "pseudo coins": yes, issued by (or in the name of) some government; no, not actually in use. In English, "trinkets" would be a good term for such issues too. ;D

Christian
My definition of coin is somewhat broader, and takes into account the use of coins as cultural mementoes, presentation pieces, and as stores of value.

I too would prefer the use of "collector coins," because it's much more value-neutral than "pseudo-coins." Besides--here--if the governmentally sanctioned metal discs are legal tender, it actually seem inaccurate to diminish them, which is what "pseudo" does.  (For a lot of English speakers it's a very negatively charged word. ) But to each his own.

 :) v.

translateltd

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Re: Niue: More Pseudo Coins
« Reply #5 on: August 15, 2011, 03:50:48 AM »
If these "coins" have any connection whatsoever with Niue other than being a source of funds in the form of royalties, then I'm a Niuean.

It would be interesting to know how these issues come about - do the countries named on them come up with the idea and actually commission them, in the way larger issuing entities such as NZ and Australia do, or do the mints - I notice they're mainly private entities - come up with the themes themselves and then cast around for a small or poor country to lend its name and hence a bit of legitimacy to them in exchange for a fee or a percentage? 

Offline chrisild

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Re: Niue: More Pseudo Coins
« Reply #6 on: August 15, 2011, 11:20:14 AM »
Guess there is "pseudo", and also "pseudo-er" and "pseudo-est". ;D  Agreed, these are not terms one would find in a coin catalog. And we should be well aware of the fact that there is no strict definition or dividing line. If a piece is issued which you can then get at face in the issuing country, and which is intended for circulation, that sounds like a regular coin to me. In terms of "special" issues, that would be the state or park quarters in the US, or most €2 commems in the euro area for example.

If the piece can only be had in some surcharged version, or differs from regular circulation coins as far as the specifications are concerned, or is "limited" like the regional euro pieces, that would be a pseudo coin for me. However, there still are huge differences - if the US Mint or the Spanish Mint, just to pick two, issues a piece that can only be had at x times the face value, nobody will use them as means of payment, but they are still made with a domestic market in mind, and will have something to do with the issuing country.

Then there are the others. :) In the July issue of MünzenRevue there was an article about Coin Invest Trust, and an interview with the CEO Michael Vogt and Managing Director Heimo Steriti. For example, CIT convinced the government of (then communist) Albania that a coin with a ship would be attractive for collectors worldwide - the result was the Durres port pieces (1986/87), designed and minted in Hungary. Then there was the famous railway coin (with the tunnel as a hole), also "from" Albania, issued in 1988.

Later they could make contracts with the Bahamas, São Tomé e Príncipe, Mongolia, Palau, Andorra, Northern Marianas, etc.  Today CIT has direct contracts with about 15 governments, and some more "indirect" contracts with other partners involved. Part of their business works like this: If a major dealer (or anybody who thinks that money could be made by issuing a coin with or that theme) contacts CIT, they will and try and find governments that are willing to issue the pieces. The government involved will then get a licensing fee which also covers the amounts that these governments need to put aside in case anybody wants to turn such issues into, errm, real money. CIT also works on design concepts and new technologies, so it's not just marketing.

Many of these pieces do not really have anything to do, theme wise, with the country name that can be found on them. However, some have stunning designs, others have at least interesting color (or scent) effects or other innovative features. And for a collector who focuses on certain themes or materials they may very well be more attractive than the umpteenth issue in a German States series. I just find it helpful to know how close or far a coin is from the original "means of payment" concept.

Christian
« Last Edit: August 15, 2011, 11:26:39 AM by chrisild »

Offline chrisild

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Re: Niue: More Pseudo Coins
« Reply #7 on: August 16, 2011, 12:36:46 AM »
By the way, just in case anybody is interested in the Niue Star Wars pieces ...

http://www.nzmint.com/starwars/

Cool packaging, I must admit. :)

Christian