Poseidon

Afternoon everyone….

I came across this coin the other day looking for a particular coin. I know that I bought it a while back and was unsure if I had posted it before. So here we go.

I have seen and read many posts from @trumpman. He has posted this coin several times now. From the very first time he posted it, I’ve been looking for one.

There are several available through many different on line sites, but almost all of them are in pretty rough condition not showing the detail of the coin very well.

Those of you that have been following me for any amount of time now. Know that I started out as a numismatic coin collector. So having a coin in mint state with great detail is a must for me. As I was nicknamed by a certain someone in the community “The coin snob”. Sorry if you are going to collect coins, you should collect coins that will increase in value over time in my opinion. If I’m just looking to stack silver then I’ll buy just silver.

Anyhoooooo…

The coin in mention is “The Poseiden” coin.

Here are all the specs:

IssuerGreece
PeriodSecond Hellenic Republic (1924-1935)
TypeStandard circulation coin
Year1930
Value20 Drachmai (20)
CurrencyFirst modern drachma (1832-1944)
CompositionSilver (.500)
Weight11.31 g
Diameter28.43 mm
ShapeRound
TechniqueMilled
OrientationCoin alignment ↑↓
DemonetizedYes
NumberN# 14565
ReferencesKM# 73, Schön# 14
Obverse
Poseidon head right

Lettering: ΠΟΣΕΙΔΩΝ

Translation: Poseidon

Engravers: Percy Metcalfe , L. Jones

Reverse
Prow of ancient ship

Lettering:
ΕΛΛΗΝΙΚΗ ΔΗΜΟΚΡΑΤΙΑ
20 ΔΡ
1930

Translation:
Greek Republic
20 Drachmai
1930

Engravers: Percy Metcalfe , L. Jones

Edge
Reeded

Mint
Royal Mint (Tower Hill), London, United Kingdom (1810-1975)

Now for the coin….

It’s an NGC graded MS62, which is a solid mint state version and a very nice grade that will appreciate over time.

From my research a good portion of these coins have been melted down by England to produce other coinage in the late 60’s. There is no know amount that was melted but I’m sure that it was quite a bit.

The original mintage for this coin used in circulation was just over 11 million. Between NGC & PCGS there are only 971 graded in mint state, and I now own one of them.