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2011 Ladybug Coin Massive Devaluation The RCNA Auction Today

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Pillar of the Community
United States
2369 Posts
 Posted 01/15/2022  7:56 pm  Show Profile   Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
I'm now down to a handful of coins that I plan to sell eventually when the time is right.

My NCLT journey started with the Mint sets back in the 70s. My parents would give me NCLT at Christmas and for my birthdays. I remember getting the $100 1977 and 1978 gold coins (which I eventually sold in 1980 for a massive payout). Obviously, I also collected circulation coins that I eventually sold for silver content as well because the metal content exceeded the numismatic value. So, even at an early age I wasn't really a true collector in the sense that I didn't have any fundamental desire the keep the coins for the long haul. I realize that now. I cared more about the craftsmanship and beauty of a coin rather than its historical value or rarity. I never really had the desire to "fill the hole" or to complete a set. But for some reason, with NCLTs I had to have'm all.

Back in 2000 I began hoarding everything the RCM produced and I was totally committed to fall for gimmicks like the triangular milk coin. With extra spending money I was the perfect RCM NCLT customer.

All that purchasing eventually became a problem... both in terms of storage and insurance - and also financially... when I couldn't afford the pure $350 coins and platinum sets anymore. In 2012 I probably had >100K USD stashed away in metal.

The sheer volume I had basically took half the space of our walk-in closet. I had a fireproof safe for some of the most expensive coins which was packed to the max. Let's not kid ourselves folks, the idea that collectors keep their coins in safety deposit boxes can't be real. Some of the NCLT cases are larger than your typical box at your local bank. Perhaps you can have a few rare coin slabs or gold coins, maybe. But the entire collection? No way. So that became a tangible risk if word got out that we had such valuables in hour home.

Around that time frame ~2012 we basically became un-insurable despite the alarm system, safe, etc. And at the same time, I realized the RCM was going nuts... so for me everything flipped mentally. The word was 'Sell-sell-sell' ASAP. I became emotionally detached and luckily, I made several good sales, particularly gold coins, and the ladybug coin! In a 4-year span I sold almost everything. It does take some time if you want to sell at a reasonable price. I'd like to say that I made a profit, but I don't think I did. With inflation, insurance, and seller fees I probably lost quite a bit. But we paid off the house and established a 529 (college fund) for our kids.

That money would have grown far more if I had invested in the market... for sure. But money can't buy some of the good NCLT memories.
Edited by canadian_coins
01/15/2022 8:42 pm
Pillar of the Community
Learn More...
United States
7552 Posts
 Posted 01/16/2022  11:03 am  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply
@canadian_coins: Thanks for sharing your story. You certainly ventured much farther down the NCLT path than I ever have!

Based on the images you've shared here in the past, you had quite an impressive collection at one point!


Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Pillar of the Community
Canada
1304 Posts
 Posted 01/16/2022  1:08 pm  Show Profile   Bookmark this reply Add Dcadon to your friends list Get a Link to this Reply
Canadian_Coins said:
Quote:
The word was 'Sell-sell-sell' ASAP. I became emotionally detached


And with that comment - the entire population of CCF started selling off their collections of NCLT and the bottom dropped out.

I enjoyed your story, and regrettably, wish I had taken your route about 10 years ago. Up until then, my story mirrored yours from 'gifts' to collecting... but I never 'sold' any.
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