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 Replies: 20 / Views: 10,687 |
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Valued Member
Australia
153 Posts |
Probably the most informaive posts I have ever read on a forum thx all contributors
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New Member
Japan
9 Posts |
With the view of holding long term and purchasing those coins in demand that may always be in demand due to other collectors not just coin collectors, and having a diverse collection that is UNIQUE in its construction surely there is long term opportunity to gain financially from these modern comemorative coins etc?
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Pillar of the Community
Australia
2830 Posts |
G'day Helloman,
the first problem with the moderns is that they are over-produced.
The excess are "sold" to a distributor, in order to inflate sales.
The intrinsic value of the metal is quite small, compared to the price at issue.
And it is not clear where demand is going to spring from, with the passing years.
These so-called coins are just another species of "collector's items": after the initial issue, the market price is determined by finding someone more gullible than the original purchaser. If any significant after-market developed, you can bet that the suppliers would increase the volume of supply, to maxi,ize their own profit.
Peter in Oz
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New Member
Japan
9 Posts |
Thanks Peter for your reply. I have been away from the forums for a while.
I see your point but there are some coins that go out the door in a flash just like the new Ken Done gold coin from Canberra mint.
Thanks again.
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Pillar of the Community
Australia
1040 Posts |
These gold coins go out the door in a flash because of the way the mint sells them. Instead of offering them to their regular loyal customers, they let first come, first serve policies apply. Supposedly, only one coin per person right? Wrong. You, your wife, kids, uncle etc. etc. whomever you want to put down on the order form, provided they are different names, addresses etc can score you more than one coin. Just have a look through completed sales on ebay to see how many sellers have sold more than one of these coins. The only one I have ever bought was the scout one, as I used to be a scout. I ordered on line, which was so busy, I thought my order hadn't gone through as I kept getting an error message. Turns out I ordered 3 of them. Did any one at the mint say this was not allowed? NO. I had to call THEM and tell them to cancel 2 of the orders and refund my money. Why do they sell out so fast? Because people realise that the collectors will pay to have these coins if they collect this type. I saw a buy it now on ebay the day after these became available for over $500. Are they a good investment then? Only if you consider fleecing a true collector to make a quick buck an investment. As to what they will be worth in the future is anyone's guess. As with most issues of this type, they seem to enjoy a period of relatively high prices compared to issue price soon after they sell out, then settle down to a more reasonable, stable price which doesn't seem to move much. After all, there isn't much gold in the coin to begin with. |
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New Member
Australia
23 Posts |
I am a bit of a sucker when it comes to collector coins. I am drawn to 'the pretty designs and pictures' and enjoy learning about what the coin in commemorating. I generally only buy only coins I like the look of. I have shown friends pictures of coins I buy, or have complained of being broke as I have just spent all my money on coins, and usually the response is 'well at least you are making a good investment!'. Investment yes, but good... not if you want a real return I think. e.g. the recent SAS coin- sold issue $78 or something, now I have seen people paying up to $300 for it on ebay. That is an allright return for a seller. You would have to pick your coins carefully. One thing I might say is that I have started a tendency of buying a coin if it is part of a series of coins I have already purchased. e.g. the 'Dangerous Australians' series of 3. I bought the Redback and Blue-ringed Octopus coins because I really think they are pretty and I like the designs. I bought the Shark one, which did not particularly grab me, only to complete my set, as I believe they would be worth more as a set. I try not to get sucked in! I think unless you are really good at picking a winner design, collector coins should be left to collectors, not investors. |
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Pillar of the Community
Australia
1040 Posts |
Quote:
collector coins should be left to collectors, not investors  very well said. |
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New Member
Australia
2 Posts |
Hello folks
Would just had my 10 cents worth.
I agree, you need to know what to look for.In regards to the artist series. The $10 Raulf Harris sells for over $2800 if you can get them. The Reg Mombasa at >$900 & the Ken Done >$450. Even the $25 Sunset coins took a hit((funny how my local dealer acquired 2 coins 2 weeks before the RAM sent mine?). Usually I don't collect coins but these ones I have managed to acquire a few at reasonable price. With Raulf hitting the big time I think there is room to go for Reg & Ken. By the way I think my 2 year old could draw a better kangaroo in all three cases.
Dazza
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New Member
Australia
27 Posts |
Amongst such good advice and elders all I can offer is the opinion of a newbie to the current Coin World ie - 2008/9 - decimals look great to me with nowhere to go but up, I stick to UNC, regular circulated varieties with low mintages i.e 1972 5c, 1971 20c, 66 cards, nice mint sets (I don't bother with proofs)and historical sets like the black changeover wallet from the Reserve bank in 66. I buy stuff locally and from USA, UK etc on ebay and never get emotional. Multiple (3) or more accounts is the go for investing or trading back what you don't want here. Of course I love the mule and the Wavy, the more I learn I see they are the genuine article - though I believe it is ony future generations that will seriously benefit.Decimal rarities that never underwent a 'sale' are a way safer dig. I've also seen that "Investment is for quality pre-decimals" - all else is speculation (at the moment) which is highlighted in a reply above - do Super funds recognise either Wavy or Mule yet? We can only hang on here! Viva Decimals and I reckon they are beautiful too - way above other comparable Nations! |
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Valued Member
Australia
153 Posts |
As a small scale collector who probably spends $600 a year on current issues I would like to at least think they will be worth same in years to come,if I was an investor spending many thousands of dollars in coins I would ask my financial planner advice but as I don't spend big bucks
My main reason in buying current issues is something I can pass on to my children one day
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Valued Member
Australia
465 Posts |
I started a couple of months collecting coins with the view to making money from it. I used to collect coins when I was young, nothing major. Insteresting hobby to get back into. At least it is difficult to make a loss. :-)
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Pillar of the Community
 United States
5953 Posts |
As with any investment knowledge is the key. The more you know about your subject the more informed your decisions are. So yes its possible to make a living from coins. Some people are very good at it while other struggle to get by. I would never be able to get a decent return on my investment in coins. Simply because I have no real wish to sell the ones that would produce the best return. Coin collecting is supposed to be a hobby not an investment platform. Once you cross that bridge you become a dealer not a collector.
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Pillar of the Community
Australia
1040 Posts |
You have to be careful with Aussie coins. Most of our decimal coins you will not make money on. NCLT is hit and miss as to what will be popular and rise in value. Pre-decimal coins you can make money with, but you will need to be buying and selling high end stuff, which means big money.
Knowledge is the key, know your coins well, know what people are buying, and buy at the right price to make a profit. Sounds simple, but it isn't.
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Valued Member
Australia
465 Posts |
strange market - when you can buy proof coins for $2.30 each. I would have thought that they would have been more expensive. ...or am I buying fakes. to the coin man 2mrw for a check.
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Valued Member
Cyprus
349 Posts |
Silver collector coins that may be a good investment:
-Redback
-Sapphire Treasures of Australia
-Loin Fish 50c
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Replies: 20 / Views: 10,687 |
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Posted 04/23/2008 12:08 pm
