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 Replies: 35 / Views: 5,022 |
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Valued Member
Canada
110 Posts |
I don't know about vancouver, but I've seen dealers here in Toronto list stuff on Kijiji for years now. Precious Metal House, and Toronto Gold Bullion are prime examples.
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Valued Member
Canada
234 Posts |
It's pretty easy, show up to a Canada Post outlet, say you would like to send something COD "Cash on Demand" fill out a slip, its then sent, when it arrives at the persons door, they will pay the letter carrier the amount written on the parcel. Then the cash is sent back to the shipper in a cheque form from Canada Post.
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Pillar of the Community
Canada
3690 Posts |
I can't make a connection between a dealer selling one coin on Craigslist (or anywhere else) and a crash in NCLT, but I do think there is a correction coming. The potential for collectors to see their collections seriously devalue definitely is there in my opinion. I think the volume of mint releases in the past two or three years will ultimately lead to confusion in the marketplace and that will result in many people holding coins that simply are not wanted by other collectors. With very few exceptions, the most valuable NCLTs are the latest NCLTs - that is certainly not the sign of a strong investment market. As a long term investment, NLCT are extremely risky IMO and anyone expecting an NCLT collection to fund their retirement or their children's education is playing with fire. Penny stocks, commodities, Las Vegas; all have similar odds. The collector market can't support 200-300 different NCLT products issued each year (and that's just the RCM) especially when those products have issues prices that are climbing by 20-30% every year. Just to maintain the various subscriptions offered in 2012 and 2013, a collector is going to be spending well over $1000/year. That doesn't include one-off or special coins and is a significant amount of disposable income for most people. Expecting to get a long term return on that investment is extremely optimistic. Collect what you can afford and don't expect to hold and make money off it. If that's you goal, find another 'investment' or be prepared to take a loss when you do liquidate. My personal goal is to breakeven on my hobby. My investments are for the most part those that have tax advantages and that have realistic potential for long term growth. /end rant |
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Valued Member
Canada
190 Posts |
I don't wish financial distress on anyone for any reason... but the sheer stupidity of the lemmings rushing to follow each other off the cliff with the recent fad in paying hyper-inflated values for RCM offerings is mind-boggling... There is no doubt that there will be a lot of very disappointed buyers in the coming years who have "invested" in these offerings... Shame on the RCM... brings to mind the times in which simple people were conned out of treasures by being enticed with shiny glass baubles... Hmm... sounds like the Royal Canadian Mint is invoking a time honored tradition... getting people to pay real money, for pieces of almost worthless nickel with shiny holograms on them, or little glass baubles glued on... or pieces of almost worthless copper wrapped up in a roll of paper with a shiny hologram label... These offerings are just "Fools Gold" purchased with real money... when the same money could be used to buy real gold... |
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Pillar of the Community
 Canada
2984 Posts |
Many businesses advertise on craiglist or kijiji but J&M Coins is one company that rarely do. It is very unusual for them to sell through such media. It is obvious they speculated on the coins by buying too many of them. Who knows how many. Thousands?
The big dealers are jumping on the speculation market like the rest of us. I believe it is them that are causing the fast sell outs. They are buying as much as the moon masks, canopy coins, and glass butterflies as they can. That is why the 5 oz Queen sold out before MC members can buy it. Curious there was little interest among collectors for the Queen coin before it sold out. That can only mean dealers bought them all.
If people think long term investments in NCLT will result in gains should think again. It is probably better to put your money in GICS than NCLTs. If you want proof, go to any coin dealer. Their shelves are full of NCLTs from the past 10 years, gathering dust on the shelves. You can practically find any coin from the past decade selling for list price.
As for investments, the gold 1912-1914 coins are the best bet. These are the only coins from the Mint that will hold up in the long run. 20% above gold spot value is a good deal. You get both numismatic value and bullion value. Should the price of gold go up in the next 20 years, which is likely, you will get the value of your investment back and more.
Edited by MoneyPenney
04/07/2013 3:32 pm
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Valued Member
Canada
128 Posts |
Just my opinion but I think most collectables are at risk of losing some value as have baseball cards ,stamps ,antiques etc.I just don't know very many kids that collect anything any more except for electronics.You have to look to a collector base of the future to buy these collections and I wonder if they will be there .NCLT dropped once before when the commemorative dollars of the 80's dropped .The 1980 commemorative dollar was once worth over $90. The products which the Mint is producing today are more limited mintage, but I am amazed at how many issues they are making, and they are not the only mint doing this. I don't live near any coin shows but I think the average age there would be around 50, (hope I am wrong).
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CCF Master Historian of USA Commemoratives
 United States
12281 Posts |
I was once told something that has always stuck with me - when something is produced specifically to be a collectible, it rarely remains one after its initial hype subsides. Without the hype, the value of such items fades away. I see many examples of such "collectibles" being produced today by the RCM, Perth Mint and other mints around the world. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Valued Member
Canada
451 Posts |
I see the Mint having a hard time selling out the next coin in this series. Hobby Flippers are going to be cautious about buying them. If this happens, the series will be dead.
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Valued Member
Canada
126 Posts |
Yea Lithanial, I can definitely see the mint having trouble selling out their next Glass Bug Coin... seeing how long it took for the butterfly coin to sell out :P
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Pillar of the Community
Canada
3690 Posts |
<<< Re-reads thread...wonders why you're talking about glass bugs.  |
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Pillar of the Community
Canada
4944 Posts |
Quote:
I was once told something that has always stuck with me - when something is produced specifically to be a collectible, it rarely remains one after its initial hype subsides. Without the hype, the value of such items fades away.  |
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Pillar of the Community
Canada
663 Posts |
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Valued Member
Canada
322 Posts |
The second glow in the dark dino was kinda of a dud anyways...not surprised to see it doing poorly in the aftermarket...maybe the next one will be better...then people will buy the 2nd one that are held by dealers...no body is to exited about this one.
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Pillar of the Community
Canada
590 Posts |
Personally I'm glad this coin is a dud. One it puts more coins in collectors hands for a low price rather than having the coins hidden in hoards. The more people that get this coin the more people that will want to complete the set. Secondly I hope a lot of flippers got burned on this coin and stay out of the flipping game. I'm not talking about the professional flippers. I'm talking about the amateur flippers that that lurk online forums like this one and RFD and think flipping is easy money. The only flipping these people should be doing is flipping hamburgers at McDonalds.
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Pillar of the Community
Canada
1581 Posts |
Isn't a professional flipper a "dealer"?
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Replies: 35 / Views: 5,022 |
First Page
Posted 04/07/2013 1:51 pm
