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 Replies: 87 / Views: 11,806 |
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Pillar of the Community
 Canada
5404 Posts |
Universal is so right on it hurts. I do indeed speak from experience as a longtime coin dealer. Years ago I had a customer who used to hang around my shop. Over a couple of years I helped him put a complete set of cents and five cents from 1858-1994 or so. The grades were all nice save the 1875H large and the 1921 five cents. These were both solid fines, the rest AU or much better. He told me that he really liked coins and wanted to invest a considerable sum that would make him a good return. My policy was and is.......... I do not recommend coins as an invested. NeedLess to say he went in the direction of the RCM and is now trying to sell 400K !!! Of this ridiculous junk for a profit ! I did buy the cents and five cents back for a profit and was very happy to get them! AS Universal stated happiness is not happening when the RCM buyers go to sell. |
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Pillar of the Community
Canada
1505 Posts |
$400k, ouch. Hopefully a good chunk of it was when silver was $3.00/oz.
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Pillar of the Community
Canada
2124 Posts |
The main question here is what's the definition for everyone of an "investment".
For example, I ask you all:
Is it an investment to put $20 every week during 10 years in a piggy bank?
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Moderator
 Canada
10463 Posts |
To clarify - I never bought my RCM NCLT as "investment". I bought them because I liked the design and uniqueness of the issues (like the 1992 silver 25c set or the Hopewell Rocks coin with the copper plating). That said, I feel that the current bombardment of new coins at the rate of an issue per day, is killing the hobby. So I would rather sell the coins I originally liked, at a reasonable price, than wait for the car to fly over the cliff, and the subsequent crash, as it did with stamps and sports cards... For investment, picking cherries from coin dealers and errors (with the help of the XRF I have) have been a far better investment for me... "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
 Canada
2360 Posts |
Obverse
The amazing Hopewell Rocks are highlighted in 24-karat red-gold plating, in front of a beautiful seascape on the Bay of Fundy.
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Pillar of the Community
Canada
6768 Posts |
Quote:
So I would rather sell the coins I originally liked Do not sell 1992 25c silver set. This sure unique...might be till 2017. Take a look at other forum. It looks like, doesn't meter the mints will engrave on the coin or put into the coin or on top of the coin - this stuff will find it's buyer. NCLT is safe  |
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Pillar of the Community
United States
937 Posts |
This type of thread always make me giggle.
This is nothing new.
The same thing happened with what US collectors now call Classic Commemoratives. The market became so saturated and fed up with them that the mint refused to make any more for over two generations.
Again in the seventies with Bicentennial coins and other paraphernalia
Again in the eighties with proof sets, even today you cannot get your money back if you bought them direct.
It is like Beanie Babies, Make one less than there buyers for them and market the daylights out of them, and people buy them.
I have learned two things about collecting anything,
1. If it was Made For Collectors it is NOT COLLECTABLE.
2. If a newly made item becomes hot and the prices rises sharply then sell them NOW. For the price will adjust to a reality level very quickly and the opportunity is gone.
Leave the modern commemoratives and over marketed, over priced "Collector's items" to the Beanie Babies collectors.
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Pillar of the Community
Canada
634 Posts |
"Doomsayers" - all these predictions of an impending calamity for the average coin collector...hurry up and SELL SELL SELL your once, oh so admired, NCLTs - before everything shinny plunges over that same cliff where stamps and sports cards go to die - OH oh oh...no...  Enough!! PLEASE!! I am not a dealer...nor do I work for any mint. The last time I casually looked...sports card collecting is still very alive and well. And...Canada Post is still pumping out a multitude of stamps...(somebody-many, must still be buying). Sure...for sports cards, it all peaked in the early 90s when everybody thought to get into the swell of popularity...in the hope of making a quick buck...but pure collectors (and there are many) are still in the game...purely for the simple joy of having a card(s) of one's favourite pro(s). And, why are many "doomsayers" overlooking comic collecting. It continues to grow...because the product(s) being pumped out - continues to be of high quality. Enough with the bemoaning and sorrow of too many coins being released...one per day avg...etc...maybe one per hour, soon. Just because there are more themes for more folks...does not necessarily push coin collecting over some imaginary cliff of doom. NCLT and coin collecting in general is not going to die - ever!! In fact, it will thrive so long as the designs continue to evolve as they have. Comparing the RCM's most recent NCLT and general circulation designs (say last 3-5 years)to those in the far past - has spawned and attracted many new collectors...primarily because the general quality, designs and themes have been superb-arguably outstanding. Such(continually improving)designs and themes will continue to resonate with the coin collector's insatiable desire for all things unique, somewhat rare, and pretty to hold in one's palm, especially with themes that touch one within... So rest assured...and the heck with the "doomsayer's" rhetoric. NCLTs will continue to command attention...no matter the number of releases - Put those once so cherished NCLTs back in the vault or cabinet display - wipe away those tears...and cheer up. All will be okay... |
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Pillar of the Community
Canada
815 Posts |
Well Yup, here's the thing, there's no free money. If you want guarenteed money, save up $7500 or so, buy a 5 ounce gold bar for about $200 over spot, and you will beat inflation and any high interest savings account on the planet in 30 years. There is virtually no other way to definitely sell something for more than you paid, obviously, because no economic system could function as such. An economic system must constantly depreciate all goods, or it doesn't flow.
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Bedrock of the Community
Australia
21788 Posts |
For those who wish to buy modern mint product with the aim of making a profit on re sale, forget it.
ALMOST (not ALL of them), will loose aftermarket value in the short to medium term. Usually, the ex Mint price will be way too high, for a profit to be returned.
Buy them if you wish, but buy them to keep, with no thought of what their after purchase value may be.
I have sparingly done this myself.
Probably the only way to perhaps do better than break even, is to have an all encompassing interest in numismatics, and buy anything that is too cheap. That is, by buying very well, also with no intention of making an immediate profit on re-sale.
That's what coin dealers do, but they have to pay all of their business overheads in running their businesses.
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Pillar of the Community
Canada
1751 Posts |
I've sold some RCM coins at higher than issue prices, it depends on theme and how patient you are on advertising. It does take time, it's often not a fast turn over. A recent example, I sold 3 of the 2015 1 Oz coin The Wolf for $149 USD each. I had buyers that collect wolf theme coins. |
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Pillar of the Community
Canada
1751 Posts |
I've sold some RCM coins at higher than issue prices, it depends on theme and how patient you are on advertising. It does take time, it's often not a fast turn over. A recent example, I sold 3 of the 2015 1 Oz coin The Wolf for $149 USD each. I had buyers that collect wolf theme coins. I buy coins I like and then I advertise to see what the response is. So it's not all doom & gloom. How many hobbies do people engage in, where there's no return whatsoever. I spent oodles of money on my Arabian horses, with only an occasional horse I was able to flip at profit. Yet, it was one of my most rewarding hobbies. So why should Nclt coins be different than other money intense hobbies like golf, fishing, racing, classic cars etc. |
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Pillar of the Community
Canada
2360 Posts |
Just deleted new ad from the Mint for the $129 High Relief Ornament, not quite a full ounce, not that appealing to me and too high a price, low mintage, but I expect to see this later for sale. Again this is kitch.
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New Member
Canada
48 Posts |
I try and reserve my collecting to 1935 to 1967 dollars and various bullion offerings, although I have occasionally bought the odd modern commemorative coin that has won me over - with much guilt. The RCM are getting away with selling $18 of silver for $80-$100. When precious metals drop in price, they are not adjusting their pricing accordingly. You can't fault them though as they are making a handsome profit. It is up to us to not buy any of their gimmicky offerings - which is a very sizeable portion of their products. If they could keep their commemorative offerings to 3-5 pieces per year that would be absolutely fantastic. Let them be well designed and meaningful and I would buy them all. |
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Valued Member
Canada
312 Posts |
Until RCM drops there prices to reflect the drop in silver I aint buying NOTHING from them....If they want to remain Greedy They are going to loose customers. |
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Replies: 87 / Views: 11,806 |
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Posted 10/17/2014 01:23 am
