Photo Credit: Holgate-Numismatics
1929 Hungarian Proof Restrike Silver 5 Pengo Pattern from 1965
Buy It Now Price: $183.95 (price as of 2017; item no longer available)
Pros:
-Stunning is the best description for this ultra-rare 1929 Hungarian proof restrike silver 5 Pengo pattern coin. The pattern shows the king of Hungary, Saint Ladislaus I, on the obverse. He was the embodiment medieval Hungarian chivalry. On the reverse are two angels holding the Hungarian crown above the national coat of arms.
-This Hungarian proof restrike pattern is quite large, with a diameter of 35 mm (1.38 inches) and a weight of 25.27 grams (0.8124 troy ounces). It is struck from solid silver and is about the size of a U.S. silver dollar – factors that significantly enhance its value.
-A pattern is a coin that has been struck by a national mint for test purposes and is not intended for public circulation. Pattern coins often have unusual or experimental designs that are never adopted for mass circulation issues.
-Pattern coins are usually ultra-rare, with mintages ranging from just a few specimens to perhaps a few thousand at the most. This 1929 Hungarian proof restrike silver 5 Pengo pattern has a mintage of around 1,000 specimens – a small fraction of the million plus mintages of modern commemorative coins.
-This 1929 Hungarian proof restrike 5 Pengo pattern is not original, but is instead a restrike from 1965. Artex, the state-owned trading subsidiary of the national Hungarian mint, restruck several classic late 19th and early 20th century Hungarian coins and patterns in the mid 1960s. These Hungarian proof restrikes were sold in the West in order to raise hard currency for the Communist Hungarian regime.
-All of the Artex Hungarian proof restrike coins and patterns are of exceptional quality and command strong prices on the collector’s market.
-This 1929 Hungarian proof restrike silver 5 Pengo pattern has been third-party certified by NGC (Numismatic Guaranty Corporation) as Ultra Cameo Proof 66 – an exceptionally high grade that is approaching perfection (70 is the top of the grading scale).
–Foreign pattern coins often have low mintages and reasonable prices, making them exceptional values in the rare coin market. At only $184, this 1929 Hungarian proof restrike silver 5 Pengo pattern is a solid investment.
Cons:
-Under normal circumstances original coins are more desirable than restrikes. However, in the case of Hungarian proof Artex restrikes from the 1960s there is usually little price differential. In some instances, the restrikes are actually more valuable than the originals due to their superb quality!
