| Author |
 Replies: 47 / Views: 6,688 |
|
Valued Member
Canada
491 Posts |
The reason I ask this question is simple with the mint planning to mint over 2000 items per year it's not like years before were you could buy one of everything. I have a friend who collects stamps,(I do look the other away)he mentioned when the post office went crazy and started over releasing stamps it affected the price of collectible stamps. I collect Lrg Cents and I made a deal with the wife that I do my thing, and if you see a animal coin from the mint I'll buy it for you. I try to keep the mint below 7500 but it seem like your taking a chance even with that mint number and if years later you will make money on that. Just wondering what you mint collectors are thinking about the the Mint releasing so many items and is it still worth collecting Mint produces.
|
|
|
|
Pillar of the Community
Canada
2124 Posts |
It`s worth collecting but NOT if your goal is to make a profit.
|
|
Pillar of the Community
Canada
6768 Posts |
I would add, that each one of the "usual" items (for example traditional animal themed coin) becomes less valuable, due to high volume of the similar items.
|
|
Pillar of the Community
Canada
2366 Posts |
The short answer is no. Picking the one coin that will go up in value in advance is like picking a winning lottery ticket. The odds are against you. If you want the convenience of buying directly from the mint then go ahead and pay the premium. If you don't mind putting in the time then keep a list and wait a year or two for the dealer clearance sale or somebody to sell theirs on the secondary market. I used to be a one of everything collector but the flood of 2013-2014 has convinced me otherwise. :-(
|
|
Pillar of the Community
Canada
2426 Posts |
|
|
Valued Member
 Canada
491 Posts |
That what I mean nobody who collects is doing so to make money just not going to happen. Either we hand it down or sell it.
With all the releases the mint plans to do over the years just like stamps they will begin to put anything on the coin because they have run out of idea's. The day that comes will be a sad day
|
|
Pillar of the Community
Canada
2124 Posts |
That already started. The worldwide mints are releasing all kind of no sense coins.
|
|
Pillar of the Community
United States
3789 Posts |
I agree with everyone's comments here. The most savviest thing to do is like others said, and like I started doing.. 1. make a wish list, whats important to you or your focus 2. Find the initial release cost, record 3. start looking at the oldest coins first, starting back at 6 months and older, see what prices are dropping hard 4- look at what dealers are offering. IF dealers are slashing coins at say 50% off, thats a good place to buy but I Think you take a hint from what a dealer is doing and turn to the secondary market such as ebay and you will find that coin going for even less. 5- If a dealer starts slashing a price on a coin, take your time on buying it, as I have seen repeated dealers slashing prices multiple times until they sell everything. Its like the old say, "whats cheap becomes cheaper". 6- the only way to make money on coins I think is to watch what happens with "hot" coins on ebay to measure supply and demand. For the most part, the few coins that do appreciate in value start to rise right out the gate on ebay and continue to climb. so get in early. keep in mind that investing in coins is really tough unless you are moving them, flipping them and are keeping good data and records. most important thing is to just collect to have fun, have a focus and think about why you want to collect a certain coin. example- I like the RCM. I like animals coins. However, I dont want to be flooded with them. So I have been narrowing down what I like about animals. I have decided on a select few animals that go with themes or interests I have,,, such as I like birds,,, the RCM has nice bird coins. so focus focus focus,,, unless you love spending like crazy and dont mind seeing the coins for less a year later.... |
|
Pillar of the Community
 Canada
2360 Posts |
Sniping is helped alot by members posting sales and
sharing in their good deals. I get a real sense
of satisfaction knowing I got a coin for less than
issue. My favorite place to haunt for deals is the
Post Office for coins two years old. Sometimes as
much as 50%. I got two group of seven coins at 25%
off and one at 50%. Now sniping for the Box.
Blowout specials at dealers are great, but as one
wise poster said, you don't want to end up with a
bunch of low priced silver. Get what you absolutely like.
I am a dollar and bullion freak with a taste for nclt.
Wish lists are a great way to focus the hunt. I am
liking the prices right now. If you try to sell what
you have purchased for full price in this market you
will inevitably lose, too many have bought the same
coin with a dealers discount and can undercut your price.
Edited by SilverDon
11/25/2014 3:03 pm
|
|
Valued Member
Canada
242 Posts |
I get what I like...and dont buy for profit...if the value goes up...well good for me...if it goes down well I still have my collection to admirer
|
|
Pillar of the Community
Canada
6768 Posts |
Quote:
I get what I like...and dont buy for profit...if the value goes up...well good for me...if it goes down well I still have my collection to admirer This is the ideal scenario. But in some cases, the collector starts to build the collection and he likes a lot of the coins. When he has a budget - he buys all of them. And later, with maturity, he/she understands, that many of the coin he doesn't need (he still like them, but somehow they are not connected to the core of his collection). And then comes the question: to leave this coins, to sell them? And in case, when the not really appreciated, you have a lot of unwanted stuff. This will not bother really rich people, but if you want to free some money (even for other coin purchases), you will feel, how the coins lose the value. Edited by Silveroid
11/25/2014 4:23 pm
|
|
Pillar of the Community
Canada
2984 Posts |
Its like any hobby; you collect things you like. You rarely make money off your hobbies. Sure, there are exceptions like the gold Superman coins but they are few and far between.
You probably can make more money or at least stay even if you stick your money in GICs.
When it comes time to sell, whether through illness or death, you will never get back what you paid for the coins. Often I hear collectors saying they will give their coin collection to their kids but what if they are not interested in it. That means the coins will go to an estate sale where you will get only a fraction of its value. Or to a coin shop where they offer you 50% of its value.
|
|
Pillar of the Community
Canada
5324 Posts |
A NCLT coin is just another collectable item, if from last few years of experience of the RCM's of ever expanding issuance, there is no chance for 90% of the coins to hold value. There is only 3 to 5 coins a year that hold value, now most of us don't buy to make a profit, but you also don't expect to lose 50% when you try to sell. |
|
Pillar of the Community
Canada
814 Posts |
|
|
Pillar of the Community
Canada
867 Posts |
Hi Strach-Man! I agree with all the comments above. Don't expect to profit by buying mint coins at issue price. If you are a collector, just buy what you like and can afford. It's a hobby!    |
|
Pillar of the Community
Canada
2019 Posts |
When collecting NCLTs "IMO" they should hold their value or a the very least drop no more then 20 percent over time but what we are seeing now is an over production /flooding of the market and some coins have sold for half their issue price, this is not a good sign at all for the hobby and alot of collectors like myself collect A: because we like the coin and B: "expect" it to hold its value somewhat around issue price give or take. These coins are not a hockey card type collectible where you buy a pack for 2 bucks maybe you get lucky and find a rare one etc etc. No... NCLTs are a premium type P/M collectible with most having a somewhat lowish mintage and there for should not be dropping to 50 percent of its issue price at all what so ever.
But if this continues then you are better off buying bullion coins/bars and the like... well unless you are only buying the NCLT solely because you "like" it and could care not about what its worth at a later date, and that's fine to for some but not for me.
|
| |
Replies: 47 / Views: 6,688 |
Posted 11/25/2014 12:18 pm
