Thursday, November 21, 2013

Pestaño: Your guide to collecting chess coins

Thursday, November 21, 2013

COIN collecting is the collecting of coins or other forms of minted legal tender.
Coins of interest to collectors often include those that circulated for only a brief time. Early coins or those with mint errors or beautiful or historically significant pieces are much sought after.
It is estimated that there are 30 million coin collectors around the world. Next to stamps, it is widely recognized as the most popular and rewarding of hobbies.
Also, like stamps, most collectors specialize on specific themes, countries or topics.
Chess stamps are issued by almost all countries worldwide and number to more than a thousand.
Chess coins, however, are few and rare and all are commemorative . They are intended to be used only as souvenirs, and are often produced in gold or silver with a proof finish. They are not intended to circulate. Minting is limited to only a few thousands.
In terms of cost, collecting modern commemoratives  are more expensive than collecting coins from circulation at face value.
The issuing country—at a high premium above face value—sells them directly to collectors. Laws authorizing commemorative coins usually mandate that a certain amount of the purchase price benefit a group or event related to the coin’s theme.
Most chess coins minted by a country honor a specific event. Here are the following chess coins.
The Philippines issued in 1992 a P5 coin to honor the Chess Olympiad which was held at the Philippine International Convention Center.
When the Olympiad was held in Turin, Armenia in 1996, they also issued a 100 dram coin. Another coin was also issued in 1999 with a value of 5,000 dram in honor of world champion Tigran Petrosian.
Cuba issued three coins--P1, P5 and P20 coins during the centennial celebration of Jose Capablanca in 1988.
China had two chess players with the Great Wall as the background in 1995 with a value of 5 yuan, to showcase its emergence as a world power in chess.
The Czech Republic honored Wolfgang Kempelen, the inventor of the chess-playing automaton, the Turk, with a coin worth 200 Koruns in 1994. Hungary also featured the Turk in 2002 with a value of 500 Forint.
The United Arab Emirates, Yugoslavia , Slovenia and Greece issued coins worth 10 Dirhams, 5 Dinaras ,2,500 Tolars and 100 and 500 Drachmas for the chess Olympiads held in these countries .
Other countries that also issued coins are Moldova (10 Leu in 2005), Belarus (20 Ruble in 2006) and Russia featuring Michael Chigorin in 2000.
Kasparov. Garry Kasparov arrived in the country last Tuesday afternoon and stayed overnight. He met officials of the National Chess Federation led by president Prospero Pichay, secretary general Jayson Gonzales, Eugene Torre and media to announce his donation of $10,000 for the victims of Yolanda.
“I understand there are far more important things than chess at this time in your country. My heart goes to the typhoon victims,” said the 50-year-old Kasparov, the
former world champion for a long time.
“We will course the donation to the Philippine National Red Cross. We are very thankful for Mr. Kasparov for lending a hand to our fellow Filipinos, who are in dire need after the super typhoon,” said Pichay.
Although the elections are still in August next year, Kasparov is campaigning for president of Fide this early. He will challenge incumbent president Kirsan Ilyumzhinov of the Republic of Kalmykia who has been holding the title since 1995.
He describes the Philippines as a “very important chess country.”

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