Posted 13 years ago
Joann
(13 items)
This coin was set in a gold ring and purchased in Venezuela in 1966. The coin face reads Caciques De Venezuela and Guaicaipuro. I cannot read the back as it is set into the ring.
Venezuela coin ring | ||
| World Gold Coins17 of 23 |  |  |
This one of an 18 coin series which was struck in 5, 10, 20, 60 Bolivares denominations. These coins were not for circulation but just for sale to collectors. Collectors call this type of coinage "NCLT" which means non-circulating legal tender. Many conservative collector types call them non-ciculating legal trash since the coins were sold as legal tender but in actuallity most were unredeemable.
Surely the gold is worth something?
Absolutely !! These are nearly pure gold and topically they are very collectible. My NCLT history is just about the false claims of the original sellers. Anyone who bought these at the time of issue would have paid too much at that time but would have made a huge profit if they held the coins until now. Always think long term.