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 Replies: 2,778 / Views: 301,313 |
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Pillar of the Community
Canada
1581 Posts |
I don't think it is an issue of demand, but stability of supply.
Silver dollars were used in circulation. Silver tarnishes. Gold coins were mainly kept to back up the on demand exchange of paper from the gold standard days. Gold doesn't degrade. So a lot of something available in a mint state will tend to be looked on as bullion, just like NCLT today.
The numismatic gold requires some scarcity. Hence 1914 $5 and 1916c sovereign.
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Rest in Peace
Canada
1360 Posts |
With that in mind, the hype is a major contributor to the 'value' of a collectible. Just look at the glow in the darks. 25,000 minted - no precious metals, sold well above face value initially. Then, with all the hype, and hard to get due to the processing problems and there you have a worthless chunk of plated/painted metal with a ridiculous 2ndary market value.
One of my pet peeves is the mint's own 'reviews' when people say a coin is "RARE" despite having mintage above 10,000. I'm sorry, but something they made 10's of thousands of - is not rare. Hoarded, yes, fabricated demand, yes, but rare - no way.
These gold coins on the other hand, are 100 years old, more or less 'un-circulated' and have an intrinsic bullion value. Yet people would rather pay a fortune for a one ounce silver piece with a splotch of glass be-dazzled onto it.
My thought is, if you're holding out to buy gold - Don't. Here it is, yes they've been available for 2 months, and haven't sold out, but there is no better deal today. Historically, rarity, intrinsic value, and just plain collectible.
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Pillar of the Community
Canada
1571 Posts |
The direction the mint has taken over the last few years is driven by profit. I stupidly bought one of their rolls of "last million" pennies. Yup, I paid 20 times the face value for a special wrapper with a hologram sticker on it. The pennies themselves are just pennies. Since I've got almost all the farewell to the penny coins, I figured $10 more is no big deal. However, I'm happy to pay a little more than the bullion value for my 1914 $5 coin. This coin has history and is relatively inexpensive compared to a lot of the junk/gimmick coins the mint has released recently.
Ultimately, if you are buying coins hoping to make a profit years from now, you'd be better off buying bars or bullion coins, assuming the price of gold will continue to rise.
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Pillar of the Community
United States
2408 Posts |
The hype is certainly a huge contributor. Or is it more the potential for some to make a quick buck? I admit, this time I purchased the $5 to make a quick profit and my budget only allowed me one. Limited risk.
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Pillar of the Community
Canada
2429 Posts |
Here is a 1914 $5 Hand Select that just sold on ebay for $987.00 US item number: 380573365396Not bad for a $565.00 Canadian Dollar investment! |
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Pillar of the Community
United States
2408 Posts |
Almost $1000 - that's really good. I just pumped my price a bit...
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Pillar of the Community
Canada
2984 Posts |
Quote:
am not sure what the Mint is planning to do with the remainder of the unsold gold coins. Either they will continue to sell them until they sell out, they could reduce the price which would not be great, or melt them.
The Mint never reduces the prices of its coins nor do they ever have a sale on them. After a certain time, the Mint takes coins off sale, even if they are still available. For example, you don't see coins from 2010 or 2011, even though some of them never sold out. What does the Mint does with all its unsold coins from past years? I don't know. As for these gold coins, they actually came from the Bank of Canada, not made by the Mint. Maybe they will return them to the Bank of Canada. |
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Pillar of the Community
Canada
1571 Posts |
Actually, the RCM has reduced prices on some items in the past. There have been at least a few that I'm aware of such as the star wars collection as well as the watch/silver maple. However, I highly doubt that these coins in particular will be reduced. The mint sells coins up to 12 months from the release date, but these coins may be a special circumstance seeing that they are already 100 years old. I'd bet they will sell before the end of the year. If I had the money, I'd get one of each. |
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Pillar of the Community
1007 Posts |
I was going to mention the watch, but I think that's a special circumstance. The stars wars coins weren't RCM issue, but neither are these (Bank of Canada) but close enough, all RCM packaging anyway. |
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Valued Member
Canada
99 Posts |
just got this 1914 5$ HS maybe MS-62?  Edited by jawamin
02/10/2013 10:09 pm
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Pillar of the Community
Canada
685 Posts |
some post office may sell RCM gold/silver coins at discount prices depends on their manager? |
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Pillar of the Community
Canada
685 Posts |
I think post offices just get rid of the inventory
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Pillar of the Community
Canada
685 Posts |
1948 dollar silver is so popular even those beginner coin collectors want one.
Not like USA, Canada only has these 6 home-made gold coins (1912~1914 $5 and $10) and 1914 $5 is definitely the key date, as 1948 silver dollar is key date.
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Valued Member
Canada
99 Posts |
PHP 1913 5 dollar defently less bag marks   Edited by jawamin
02/11/2013 2:37 pm
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Pillar of the Community
Canada
867 Posts |
The RCM is sold out of the 1913 $10 PS as of this morning. Still 1914 $10 PS remaining. |
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Replies: 2,778 / Views: 301,313 |
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Posted 02/10/2013 3:15 pm
