The Cellar - What I found in my dresser drawer!

The Cellar (http://cellar.org/index.php)

- Home Base (http://cellar.org/forumdisplay.php?f=2)

- - What I found in my dresser drawer! (http://cellar.org/showthread.php?t=21797)

What I found in my dresser drawer!

Got on a New Year's cleaning binge over the weekend and was sorting through some things when I came upon a small container that had been my dad's. He died last year and I had brought home things from his dresser and desk to sort through, this was a small container with cuff links and tie tacks and some small Catholic Saint pins. I saw something shiny so I picked it out and discovered it was a small gold coin. As small as a dime and dated 1877, it is a Prussian 5 Mark coin. Did some research and it could be worth between $250-700 depending on the market and the graded condition. From what I could tell by comparing it to others it is in Fine or SS condition, but it could be a half notch higher.

Cool. I have no idea if it was his or his father's. Just a mystery but I'm glad I didn't just pitch the container since I seldom dress formally! This is an image from the Internet and mine looks just like that.

Great find. Get it appraised. And I would keep it as a family heirloom, don't sell it.

Sell it!
If it had a story or memories for you I'd say hold onto it too.
But it is just a lovely little windfall, and the price of gold is currently high.

Sell and treat yourself to something for having been such a loving son.

Actually, I may sell it as it really has no meaning to me or my wife. I have no German roots and don't collect coins and it is so small that it wouldn't make a very interesting pendant for my wife. I have lots of other strange things as heirlooms that I would rather not part with.

I vote sell it, too. If it had a story connected to it, fine, otherwise it's just clutter ;).

I say mail it to me. I'll sell it, then you don't have to make the decision. :D

I have been selling coins on eBay and they generally fetch about half of the book value.

UT, I probably can get you info on a much better deal. Let me check into it, and I'll get back to you.

I should have said someting sooner!

I don't have much of great value, there are a few pieces that might draw interest.

Let's just say that I know someone who prefers real money to specie currency.

But you might have to go to the secret bunker to do the deal. :lol:

That's awesome, Chris. Keep us posted on the outcome of your sale, should you sell it. Might be able to buy a sexy new lens or something.

Well I took my cool find to a big coin shop and they were thoroughly unimpressed. He basically weighed and said that based on the gold melt value it was worth $48.00. That's a far cry from the ones I saw at some coin dealer's websites that were selling theirs for $400 or so. Then I began looking on Ebay and found one auction for the same coin. It is currently at 3 days from the auction end and has a whopping 3 bids and is currently at $12.50. I'm going to watch it up until the end and if it doesn't rise to much I figure if I can get it for under $48 including shipping at least I'll have another one and it would have cost me less then the melt value. :cool:

I wonder what the buying power of 5 Marks was is 1877, and if it was more or less than the buying power of $48 today.

Here's 1938.

Quote:

In 1938 Fritz earned 6000 Marks, what would his equivalent salary be today? (back to top)

First, using the tables immediately below, convert the 1938 Marks to 1938 dollars.
In 1938, 2.49M=$1 means 6000M=$2409.
Now go to the inflation calculators section below, and see what $2409 in 1938 would be worth today (in 2007, for instance). The various indexes yield the following results:
$35,449.74 using the Consumer Price Index
$29,454.14 using the GDP deflator
$83,618.18 using the value of consumer bundle * [*2007 data is still preliminary in July 2008]
$75,744.52 using the unskilled wage *
$166,511.68 using the nominal GDP per capita [good for estimating the "status" of that income]
$387,267.03 using the relative share of GDP [good for estimating the share of national wealth]
Which measure would be most appropriate? Read the explanatory page on that site, Choosing the Best Indicator to Measure Relative Worth. For a salary or annual income, you will see that the "Consumer Bundle" or "GDP per capita" would be the best measures.
For the value of a simple commodity (loaf of bread, gallon of gas), you'd use the CPI.
For the cost of a building or public works project, you'd use the GDP deflator.

Pre-WWI, 4.198 Marks to the $US.