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2006 1 And 2 Cents

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New Member

Australia
3 Posts
 Posted 02/05/2013  01:55 am Show Profile   Bookmark this topic Add Andrew69 to your friends list Get a Link to this Message Number of Subscribers
I bought a heap( over 200 )of uncirculated and proof sets from the mint in 2006 with the idea that the copper coins would become sought after because they would have low mintages. Looking on ebay the value of the sets have barely risen since I bought them so obviously it was a bad move. I have looked on the ram website but the don't have any mintages for that year but it must be very low. Question is what makes a coin valuable and is there any hope the 2006 copper coins will become sought after. Thanks
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goatieman23's Avatar
Australia
869 Posts
 Posted 02/05/2013  02:35 am  Show Profile   Bookmark this reply Add goatieman23 to your friends list Get a Link to this Reply
Hi Andrew & to this forum!
Okay, here's a few pointers about your dilemma.
I'll speak only in UNC Mint Sets because to me it's real!

20th McDonalds (printed Nov.2012) has the 1c & 2c CAT as $18 each. McDonalds has the RAM UNC set as $35.

24th Renniks (printed Mar.2011) has the 1c & 2c CAT as $15 each. Renniks also has the RAM UNC Set as $35.

We'll use McDonalds for the example.
2006
1c - $18
2c - $18
5c - $2
10c - $2
20c - $3
50c - $8
$1 - $4
$2 - $4
SET - $35
INDIVIDUAL SET VALUE - $59

I'll write a little more after dinner about my view of some things.
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enworb's Avatar
Australia
4411 Posts
 Posted 02/05/2013  02:45 am  Show Profile   Bookmark this reply Add enworb to your friends list Get a Link to this Reply
To beome valuable there needs to be a strong interest for them. There just doesn't seem to be that for later mint sets. Becase the coins are all going to be BU there will not be much premium for top examples. Look at the 86 1c and 1986 and 87 2c. Theyre also mint set only coins. The mintages are a little more than double that of the 2006 coins but even after 25 years they arent worth much more $5-10. I see no reason why these would increase to much more than they get now which I think is about $10-15.
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enworb's Avatar
Australia
4411 Posts
 Posted 02/05/2013  02:49 am  Show Profile   Bookmark this reply Add enworb to your friends list Get a Link to this Reply
I would start selling some sets slowly on ebay if it was me.
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goatieman23's Avatar
Australia
869 Posts
 Posted 02/05/2013  03:45 am  Show Profile   Bookmark this reply Add goatieman23 to your friends list Get a Link to this Reply
I'm a collector of polymer banknotes. Does the rarity command the value? No.
I've stated charts of polymer notes to see the least printed notes & they are not necessarily the most valueable notes. I'll give you a great example of this in regards to Last Prefix Polymer notes.
The last prefix of $10 in 1996; DF96 saw a print run of only 149,999
The last prefix of $10 in 1997; DF97 saw a print run of only 510,499
Although DF97 has a print run of more than three times as many as DF96; DF97 is probably worth three times as much.
The good old equilibrium. Someone wants something, it's worth what the buyer is prepared to pay. If two people want the same thing, then the buyer who wants it more, will be the person who will pay more for it.
SUPPLY vs. DEMAND is the key.

Also, check each & every one of your 2006 proof sets. There were some errors issued. If you find one with a 2005 20 cent piece or one with a 2005 $1 coin, it's worth big bucks.

As for the rest. Sell, sell, sell...& re-invest in something else. You might have to lose some money; 2006 Proof sets on ebay have been selling lately for between: $56.55 to $89.95 plus post. 2006 Mint Sets on ebay $12.98 to $53.67 plus post.
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MobOfRoos's Avatar
Australia
762 Posts
 Posted 02/05/2013  05:43 am  Show Profile   Bookmark this reply Add MobOfRoos to your friends list Get a Link to this Reply

Quote:
Question is what makes a coin valuable and is there any hope the 2006 copper coins will become sought after. Thanks


OK here is my take on it.
As Goatieman said it is supply v demand
But supply doesn't necessarily = mintage (or print run).
There were about 84,000 mint sets produced in 2006 so being NCLT pretty much all of these will have survived and are still in mint condition. They will remain common.
Compare that to the 1972 5c. It had a mintage of 8,000,000 which on pure mintage is much more common that the 2006 mint set. The difference is that the 1972 5c was in circulation, many were lost, destroyed or damaged. The remainder are difficult to find in the sheer numbers of 5c minted in the 40 years since 1972.
So in summary. Supply = the number actually available to collectors.(which can be a lot less than the original mintage / print run)
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