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 Replies: 52 / Views: 10,542 |
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Valued Member
 Canada
343 Posts |
I like the $5 and $10 gold coins from 1912-14 a lot but am unwilling to pay the premium for them. I guess that's why I like the 1967 $20 - a design that is similar and I can get them at spot or a bit less.
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Pillar of the Community
Canada
2845 Posts |
That's a very good point, the $20 gold coin could certainly be considered undervalued in that sense. I just happened to be looking at past gold coin releases by RCM over the years, far more than I ever realized existed, even a gold penny, gold 25c and 50c, very low mintages and have done very well. <sigh, if only....> |
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Pillar of the Community
710 Posts |
Quote:
I guess that's why I like the 1967 $20 - a design that is similar and I can get them at spot or a bit less. I'm curious whether you ended up buying any 1967 $20 gold coins? Lately I've come across many of the 1967 mint sets and almost all had the $20 removed (and replaced with a half-dollar or dollar coin). The one complete set I did find was in poor shape. |
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Valued Member
Canada
343 Posts |
Haven't bought any recently as the price of gold has gone up past my buy limit for now. I know a lot of the sets have the $20 gold coin swapped out (something to be careful of if bidding at auction). Actually all the coins that I have bought have already been taken out of the set and yes, sadly a few of the complete sets I have seen were not in the best of shape.
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Pillar of the Community
Canada
2845 Posts |
The coins in the 1967 gold sets weren't sealed in any way. They were entirely unprotected, set on the flocked liner inside the case.
Considering the set in almost 50 years old now, indeed unless you know the seller bought it directly from the mint, there's no assurance the collective set is original. Even if it is, there's the possibility the coins were picked up to look at with bare hands and have become damaged by fingerprints. Therefore for the sake of proper preservation, that's a very good reason that the coins have been removed, regardless if they're put back in the case upon sale. Prestige sets from the early 70s were notorious for the liner that began disintegrating, a lesson learned about why not to store sets intact on the longterm....
Edited by wildflowerAB
04/02/2016 1:25 pm
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Valued Member
Canada
343 Posts |
Good point wildflower. Reminds me a a few sets of 67 coins (without the gold $20) that I picked up from a private seller a few years back. Got it for less than spot - but the silver coins inside were ugly. Maybe they were stored on top of a heat vent under someones bed - grey and black and acetone doesn't even come close to making them look better.
Edited by aghawk
04/02/2016 1:29 pm
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Pillar of the Community
Canada
2845 Posts |
Yes, the conditions the coins were stored in would make a difference as well. And it wouldn't be entirely surprising if some of the coins in cases were exposed to air for a period of time, such as an open case being displayed in a China cabinet or shelf back in that day.
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Valued Member
Canada
343 Posts |
Funny though, I've also picked up the sterling silver Olympic sets - only 10 years later and they seem to have weathered the passage of time a lot better.
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Pillar of the Community
Canada
2845 Posts |
Weren't the coins sold in the Montreal Olympic sets encapsulated, might be wrong, don't know why I thought that.
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Pillar of the Community
Canada
5324 Posts |
There were single Montreal Olympic coins in own cases no capsule such a sad sight seeing many of these coins going into 5 gallon melt pots.
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Pillar of the Community
Canada
2845 Posts |
Yes, along with that a huge amount of '70 collector dollars, between 1/2 and 1 million were sold each year. I was at a coin show a few weeks ago and noticed an older gentleman selling two HUGE cardboard boxes full to a dealer, all single cases still in their cardboard sleeve. They're a common item at rural farm auction sales and sell for far less than melt in lots packed up with other trinkets and unidentifiable souvenirs.
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Pillar of the Community
Australia
7096 Posts |
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It is the same design (and almost same size) as the nickel 50c coin, yet so many people don't bother to collect 50c coins beyond 1967... I am in Aus and even I have a date set of Canadian 50 cent coins from 1937 -2016. I do admit the larger Silver coins are nicer but the smaller nickel coins have the same great coat of arms on it  I think I have some of the more recent dates in Silver as well. |
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Valued Member
Canada
343 Posts |
Wish I could go to the same auctions you do. Anytime those old dollars or any silver is in an auction - even the rural ones seems like people know how much its worth. Best auction I was at I managed to get some pre 67 50 cent pieces at 2x face value. Only problem there were 2 of them -  . And then at another auction they had some old $100 bills for sale (54's I think) - they got bid up to $120 each (not including tax and the 10% auction fee). I was standing next to the guy who bought them - he proceeded to fold the notes and stuff them in his pocket . . . |
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Pillar of the Community
Canada
2845 Posts |
Oh my goodness, that would be painful to see. But maybe you wouldn't wish you could go to farm auctions...... It involves sitting around all day waiting often in the hot sun while the vast contents of garages, sheds, barns and granaries are sold. No idea what half the stuff is used for. Most often collectable items aren't published so one has to go early to find out if there's anything interesting, then the odds seem to work out that it will be auctioned my mid or late afternoon. Meanwhile all the farmers in the area go to auctions much like attending a social event, "strangers" tend to stand out like a sore thumb, as if they crashed a party. I don't go very often, no more than one a year....but the dynamics are still rather amusing.
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Valued Member
Canada
343 Posts |
What you say is true and that's what makes it interesting. Good thing my wife and I go for other things than coins. In our area a lot of Mennonites show up and in the summer it is wonderful to see them out in large numbers. The ladies have very colourful dresses and it is most interesting to see how much they will spend on certain items.
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Replies: 52 / Views: 10,542 |
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Posted 01/20/2016 6:33 pm
