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Interesting perspective. If everyone felt that way, there would have been no NCLT coin collecting before 2004
And I suppose thats why there has been a major increase in coin collecting in recent years
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The finish for one. Bullion mintage is in 100,000's
Well, I purchased Titanic Privy Maple Leafs last year. Only 25k Mintage, and bought for $44 a piece, graded from PCGS. Reverse Proof, frosted finish.
Now, would I rather pay $44 for a 1oz of silver frosted reverse proof maple leaf with a historic privy representing the 100 year old titanic, or would I pay $35 for a cupronickel coin with a coloured bird on it, given that the bird coin has almost the same mintage/rarity?
The mintage is only 25k, and it has a bullion element to it, plus a reverse proof finish, so I'll ask again. With an unlimited/increase mintage, what makes this different from bullion?
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I think people collect because they like coins. That's why it's classified as a hobby.
Typical human mentality is to want something you can't have. IF everyone can have it, you don't want it, and therefore the hobby is dead.
And that was my point with the post, my intention wasn't to say I wouldn't buy a coin that I thought looked nice but had a high mintage, I just wouldn't pay for it.
That's like going back to the coloured quarters. Heck I'll collect those all day long, and do/have been for years (poppy, breast cancer, vancouver olympics, etc.), but you don't see me paying a 10 time premium from what they're worth?
And even those still have an element of rarity to them. Not everyone has em.
Now to further my rant...have a look at the dictionary definition of collectable
http://financial-dictionary.thefree...Collectablescollectible
An asset of limited supply that is sought for a variety of reasons including, it is hoped, an increase in value. Stamps, antiques, coins, and works of art are among the many things usually classified as collectibles. Collectibles are often regarded by investors as hedges against inflation, since their value tends to appreciate most when general prices are rising. The collectibles market represents a very tricky investment for inexperienced investors.
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Posted 03/30/2013 10:57 pm
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