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Pillar of the Community
Canada
2366 Posts |
Quote:
I'm slightly confused by the pacificcoin post that says something to the effect of 'lots of money to be made as a Canadian seller into the U.S. but don't invest in coins'? I don't get it, if the later is true.
@Alan - Just keep in mind that the author is a long time dealer who doesn't collect. Then the somewhat misleading assertions and logical inconsistencies become a bit more understandable.  |
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Pillar of the Community
Canada
1463 Posts |
Kuh, he's an investor, if what you say is true; in regards to long term. So I'm still confused by the statement made.
To John, I suspect you meant "shrewd".
Listing in U.S. denominated funds is just par for the course, no?
Shrewd in my opinion would be listing in one's currency of origin between 2008-2013, then having the forsight to dump all gold and silver, and buy it back a year later and do it all over again.
I think what you're describing is an opportunist.
Edited by Alan
12/26/2015 8:48 pm
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Pillar of the Community
Canada
5324 Posts |
Take the upcoming Heritage Fun auction and a 20,000.00 Canadian coin, a Canadian bidder at the moment has about 45% disadvantage compared to a US bidder. One other thing when you buy on ebay with a listing in US paypal and your credit card or bank will rob you another 5% or so on currency conversion fees. Edited by john100
12/26/2015 9:02 pm
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Pillar of the Community
Canada
2632 Posts |
 Quote:
As to your query, NEVER invest in coins Dont bet your kids futures on coin prices going up, in a real market crash, coins loose. |
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Pillar of the Community
Canada
1463 Posts |
I think that in itself is a true statement "never invest in coins".
To get on topic again, my apologies for veering off, to the first question, I think now or in the near future gives a great chance to buy something one likes. Secondly, I don't know what coins are undervalued, if you like the older coinage of the commonwealth, I don't think they will get much cheaper, or gain in value greatly in the near future.
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Pillar of the Community
Canada
2495 Posts |
Alan....I agree with you....I don't get it either.
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Pillar of the Community
Canada
2495 Posts |
To further add why this "US buyer of Canadian coins" is not important. Firstly and most importantly, most Canadian coins we own and are up for sale are graded by ICCS. Almost all Americans who collect Canadian coins don't even want to go near an ICCS coin. They want PCGS or NGC graded Canadian coins. Secondly, in my opinion, there's no where near the volume of US collectors that are buying Canadian coins. Iron clad proof of this is the ever present and ongoing depressed ebay selling prices. |
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Pillar of the Community
Canada
1463 Posts |
As an inflation adjusted investment vehicle, coins have never compared or done well, except in very few cases.
If history can teach a lesson regarding coins and investment assurance, one should likely invest in time travel.
if one collects what their interests are, they will always enjoy their procurements, in the end, that may be priceless.
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Pillar of the Community
Canada
5324 Posts |
If one get a chance to read the story on Mr. Newman a US collector who basically bought the best grade of most US and foreign coins and recently being auctioned off this past year or so, lots of coins he bought for hundreds and was sold for six figures in 60 or so years, it could be done as a shrewd investment but rarely.
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Valued Member
 Canada
220 Posts |
Thank you for all of the responses, lots of thoughtful insight...also Pacificoin, small world, I think I just bought a coin from you this week on ebay, a 1949 10 cent piece...I agree we should buy the coins we like, rather than think of them only as investments...I suppose if I had my wish it would be to buy the coins I like, not caring if they grow in value greatly over time, rather that they just don't lose money over time The bargain hunter in me finds it exciting to get a deal, or perhaps be able to purchase a coin I may not have been able to purchase a few years ago when prices were higher... John100 you mentioned a 1921 5 cent piece, would you know what the price of the recent sale was? This coin is out of my league but curious how much the price has fallen... A coin dealer once told me the smart money was on Victorian Canadian coins so curious what people think of this idea and of course the current market buying opportunity in general... Lastly, the highest graded material seems to have held its value better than the more common stuff, so many it would be better to buy these type of coins? |
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Pillar of the Community
Canada
5324 Posts |
Someone has mentioned on this forum that it sold for around 69,000.00 all in with the auction fees, they seemed to have taken out the sold prices on their website, maybe someone can confirm.
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Pillar of the Community
Canada
1463 Posts |
twoods, I think the deal hunter in everyone wants to get a deal & I think you're quite right, we could likely all agree that high end Canadian and Commonwealth Pre 1953 coinage (specimen pl proof & circulation) has and likely will continue to hold value. How much value or increase, who knows, though, for purposes of resellability, these issues would seem to be quite safe.
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Pillar of the Community
 Canada
5400 Posts |
Maybe a little clarification is in order. I have been a dealer in rare coins for well over 40 years and have seen both the highs and the lows in our great hobby. Over the course of my numismatic career,I have seen pretty much everything you could imagine in the hobby,the good and the bad.
There are as many ways to collect as there are personalities.The most successful collectors are the ones who devote time and passion to the hobby and not necessarily the ones who never care to buy a book and have the deepest pockets.
I was honoured to have sold the RC Willey estate years ago ( Bob was the co author of the Haxby Willey catalogue and other numismatic titles). Before Bob died he told me the money was definitely NOT the reason he devoted most of his adult life to the hobby. The return to his family was just the gravy.
Let's face it most everyone who collects coins will not make money on the hobby, but most who are heavily involved in numismatics reap a greater reward the joy of a hobby.
Most dealers myself included are usually somewhat successful and enjoy the hobby from a much different aspect. Believe me being a numismatic dealer is a tough , but enjoyable way to make an easy living.
As a dealer it is tough to also consider collecting as well and most do not, or collect something fun.
Myself I have a low ball silver dollar collection, a collection of pre decimal Aussie copper, and years ago bought a British Wreath Crown collection.
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Valued Member
Canada
495 Posts |
When I see that word "investment" in reference to coin collecting I feel the force awaken in me and hope its not my wife asking me for a "lets sit down and have a wee chat about this investment we have in coins" [I'm hoping I go before her if I still have my nest egg [:)I'll leave her a copy of Trends with instructions to hold off for 20 years so I can at least rest for that period before she exhumes me to talk about how good I did on our "investment"
I'm travelling down highway of reality 101 right now in process of trying to sell my collection and looking at offers of 40-45% of what I have. I am not surprised at this having been through it a few years ago with same result. So I know all too well how to lose at this venture so my advice is to take a hard look at what your objectives are before you begin the journey. To retain value buy the best you can afford. I think Pacificcoin is right, the market is over the border.
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Pillar of the Community
Canada
1751 Posts |
I am curious why don't dealers also collect. I would think it provides a great opportunity to get some great coins.
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Replies: 21 / Views: 4,674 |
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Posted 12/26/2015 8:46 pm
