| Author |
 Replies: 13 / Views: 2,010 |
|
|
New Member
Canada
10 Posts |
Hello! I just recently joined the forums and the coin collecting community. I have purchased several coins from the RCM not as an investment but just because of the artwork/appeal. Before I spend more money I am in desperate need of advice. I have no clue how to approach coin collecting. I am mostly interested in coins from the RCM. I have several questions: 1. Is buying online from the RCM the best/cheapest option? 2. With prices of silver/gold so low why does the mint charge so much for coins? 3. What coins/collections are the smartest purchases? 4. Anything I should try to avoid? 5. Where to sell coins? 6. Should I expect my coins to rise or decline in value? Any advice that you may think would be helpful to a beginner would be greatly appreciated. I just don't want to make any rookie mistakes. So far I have purchased: 100th anniversary of the declaration of the first World War (2014) Proof Set My Matryoshka (2014) 20 for 20 Women's World Cup and Bugs Bunny 25 for 25 50th anniversary of the Canadian Flag The Universe (2016) Colourful Songbirds of Canada Subscription (2015) Mountain Goat (from baby animals collection) PLEASE HELP ANY TIPS WOULD BE GREATLY APPRECIATED  |
|
|
|
Bedrock of the Community
United States
94367 Posts |
 Indeed welcome, but I think you are taking things too fast. It would take pages and pages to answer your questions. You need to be much more specific in asking what you need input on.  |
|
Rest in Peace
United States
18456 Posts |
To CCF..  I'm sure Canadian collectors will be able to answer all your questions. |
|
Valued Member
Canada
491 Posts |
Cornfrog is right you to marrow down what your asking, collecting is so personal. When I collect I'm not looking at what I buy to make money |
|
Valued Member
Canada
491 Posts |
Forgot to mention read as many post under this heading before you go crazy, or you will just throw money away
|
|
New Member
 Canada
10 Posts |
Thanks for the warm welcoming :)
To narrow it down the thing I am most worried about is overpaying for coins, i.e. which coins should I avoid. Are there any series of coins or individual coins I should take a look at?
Any coins that have noticeably had a trend of declining or appreciating in value?
Thanks :)
|
|
Pillar of the Community
Canada
6768 Posts |
to CCF, Coin-Enthusiast and welcome to the hobby! In your introduction, missing explain, that actually answers on half of your questions: "Why and what for you want to collect the coins, particularly NCLT?"So what led you to this resources consuming thing? I will answer for myself and might be it will help: I always liked the coins, not the money, but the coins - metal rounds. From age 10 remember myself pulling nice coins from circulation. later - using pocket change to buy foreign cheap coins. Discovered bullion "all over the world" - they are nice and not such expensive. From them "got broken" and started to get numis NCLT - Canadian Animals, First Nations Art , Commemoration of Circulation. Nowdays buying the best of the best only. Coin in couple of months. ***Decide again, do you need this, is it yours - otherwise, sell what you already bought. ***Decide about theme - do not buy "all that you like" ***Almost ALL of THEM lose value, all***Buying from RCM is the best in theory, but most expensive way to get RCM coins, and like every store issues here and there. ***Read whatever you can on this forum and RFD forum - all the people have a huge knowledge, each of one has it's own preference and targets. Edited by Silveroid
07/27/2015 9:24 pm
|
|
Pillar of the Community
Canada
5324 Posts |
With over 300 coins issued this year, all but a handful can be bought below issue, that should answer the main question on NCLT coins, as for other coins buy and collect the theme you enjoy. At the Halifax RCNA I asked an RCM rep what their logic in producing so many coloured and useless recurring themed coins ie. the looney tune coins, what connection to Canada, none just a chance to make more money. An honest but surprising answer from the rep, kind of shows the RCM is heading down the slopes of becoming a Franklin mint. |
|
Pillar of the Community
Canada
6768 Posts |
Quote:
all but a handful can be bought below issue, that should answer the main question on NCLT coins good point Think about it from seller perspective. You sure that you have some beautiful coin, that even have been sold out from RCM and now you want to sell it - be ready to get 50% from issue price. Why RCM charges so much? Cause they sell you the collectible item with relatively limited edition. Does 2 kg of plastic, and some papers cost $100? No. But Lego set does. Same with the coins. |
|
New Member
Canada
10 Posts |
Thank you silveroid and john100 for the advice. Buying coins from the RCM I never expected to make any profit, it is unfortunate that most coins depreciate in value. I will stick to the coins I have because I really like the artwork. Also, I will continue to buy the 20 for 20 series as I don't see any risk or reward on that series. From now on I will try to target specific themes/series I enjoy and not stray off. What do you guys/gals think about the fractional gold series from the mint? |
|
Pillar of the Community
Canada
1118 Posts |
Fractional gold from the mint, that can be interpreted 2 ways. Are you talking about bullion (the gold maple leaf) or NCLT (1/2 oz gold with a nice picture sold as a collectable or piece of art, not as physical gold)
EIther way, as an investment, it is a no go.
A) Gold is falling, you don't want to buy a falling asset
B) A Lot of NCLT is gimmicky and are made in such quantities and designs that no one wants them
C) If you are talking about fractional bullion the premium is huge and gold would have to shoot up a couple hundred dollars to even hope of breaking even.
You are just starting out, the 20 for 20 is a good choice. In all honesty if you want to start buying up coins to make money in the future look up "key dates" in "high grades". If you do not know what either of those terms mean you can find the answers on this forum by using the search function. If you have any follow up questions that you can not find an answer for you may want to start a new topic addressing one question.
In would also help if we had a rough idea of where you lived. Members could direct you to stores and clubs that could help you in person.
|
|
Pillar of the Community
Canada
6768 Posts |
Quote:
What do you guys/gals think about the fractional gold series from the mint? Unfortunately, the RCM gold coins or affordable but too small, or expensive. Except the 14kt gold coins (Superman) and BoC (1912-1914) gold coins you will not find much discussion here. I think too pricey to get really deep into the gold numismatic coin collection. About specifically fractional sets - I think the 2014 GML Fractional Set, which first used incusive design, was very appealing. From all the expensive RCM coins I like (but do not own a thing): 199x-th Platinum Fractional sets 1989 - Proof Maple Leaf 3 metals set (each coin 1oz) Recent 1/2 kg silver series : Howling Wolf and Cougar |
|
Bedrock of the Community
Australia
21786 Posts |
I only collect Canadian before 1967: nickels and nice silver, mainly from public auction dealers and shows. Type set in nickels before 1967 complete, the silver dollars before 1967 type set almost complete. Also have an Unc. 1913 $10. The Canadian section of my collection represents about 5% of my World collection, ancients to modern. Don't collect NCLT of any country after about 1965. Haven't sold a single coin out of my collection for decades, but I suppose my better coins will go to public auction, the lesser valued ones may go to a selected dealer on consignment. I have never bought on line; I always like to closely inspect 'in hand' whatever I may buy, before purchase. I have never worried too much about the value of my collection; it has just been quietly built up over a period of about four decades. I also have little concern about the underlying bullion value of any coin, after it has been purchased. The Royal Australian Mint issues lots of top quality NCLT every year like the RCM does; I like to look at all of their pamphlets and brochures, but I don't buy their modern mint product; my interests lie elsewhere. |
|
Pillar of the Community
Canada
2366 Posts |
1. Is buying online from the RCM the best/cheapest option? No. Keeping a list and waiting 1-2 years for the dealers to dump their surpluses on ebay or their own websites is cheapest. But it takes more time and patience. 2. With prices of silver/gold so low why does the mint charge so much for coins? It's more like art than silver or gold. Whatever the market will bear. 3. What coins/collections are the smartest purchases? Old, high grade, circulation coins. 20 for 20, 50 for 50 etc are the best of a 'bad' lot on the NCLT side. 4. Anything I should try to avoid? Paying issue/list/book price for a coin. 5. Where to sell coins? ebay, Craigslist etc. Selling directly to another collector will involve less of a loss than involving a dealer. See other topics for risks though. 6. Should I expect my coins to rise or decline in value? Decline. With the very odd exception. Think lottery tickets. Most decline in value. One wins. Probably not yours. |
| |
Replies: 13 / Views: 2,010 |
|
Posted 07/27/2015 8:37 pm
