I Would Like Your Opinion On Hoarding Canadian Loonies!

It depends how huge a pile your house can hold before collapsing.

But really - the loonie is possibly the most circulating coin in Canada. The ones from the 80s are in incredibly bad condition by now, so much that even an AU-50 one will sell for more than a dollar. Why keep the ones with the highest mintages of all (over half a billion were made in those three years) in the worst condition of all (I challenge you to find a nice loonie from any year in the 20th century)? Their composition was the same until 2012.

But here's the thing - cash hoarders lose money. You could put it in the bank and get interest, or buy pretty much anything that'll hold its value (e.g. a new house: this is apparently a popular form of investment in Southeast Asia due to unreliable government control of actual cash). Thanks to inflation, a hoard of loonies will constantly bleed value. Please hoard copper pennies or nickel nickels! Nickel 5-cents have a metal cost of around 7 cents each. In this case, you're already ahead with the same metal. The little loonie has a very low metal value, and it'll only surpass $1 if our currency becomes worth much less than it did when you started hoarding them in the first place.

If you want a big, expensive hoard, try buying certified MS-65 loonies from every year. They will always be worth a large premium, especially as old loonies start to go missing and get melted by the Mint!

thanks for all your input has helped a lot!

I would collect all of the ones that are bronze-plated nickel. (Pre- 2000?)

The loonie retained the same composition from 1987 to 2012. There is no reason to hoard certain dates. A loonie contains about 6.5 grams of nickel and a negligible amount of bronze - worth about 10 cents. According to wackos on the Internet, this is a sure sign of the fall of Western civilization, so be sure to trade in your fiat as soon as possible, buy guns with it, and wait for the day the government collapses and you can shoot random people with impunity.

Anyway, if the metals jump by 10x, I'll be pretty surprised. And if the dollar loses 90% of its value, you're screwed if you're sitting on a giant stack of loonies. Moral of the story: collect, don't hoard! Really, there is no good reason to keep nickel loonies when all our other denominations (except the penny) have much better metal:face value ratios. Nickel nickels will actually make you a profit at 7:5, loonies are pointless at 1:10, and dimes and quarters are silly yet still much better than loonies at 1:3. Even the poor, downsized half scores about 1:4.

@nalaberong

you bring up great points no doubt! I'm with you all the way on its inefficiency! keeping the 5 cent piece is much better! I was more curious just for the portrait tho and just considering I had already met 1 person interested in hoarding them for that reason I wasnt sure if I was rolling up coins I should be saving : P I thnik this clears it up tho! even still just now looking up the mintage of each year I think there will be some I will hoard if I come across :D ! thanks everyone for your comments btw!