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 Replies: 25 / Views: 4,573 |
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New Member
Canada
29 Posts |
Hello, I'm trying to figure out what's worth purchasing when it comes to coins. Is it worth purchasing 1 new coin from the mint at 100$ or multiple old coins for the same price? Thanks for the advice!
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Pillar of the Community
Canada
2845 Posts |
Both are worth the same - $100, assuming both were sold to you at fair market value.
Like apples and oranges in comparison though - old or new. Not unlike interest in vintage cars as opposed to buying the latest model as soon as it's released, different things appeal to different people.
The reason my preference is "old coins" - a piece of the past - is because it's given me a reason to better understand the history of our country which for me has become another side interest.
Edited by wildflowerAB
08/27/2015 11:26 pm
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Pillar of the Community
Canada
1192 Posts |
I have a strong preference for old coins. Much more fun to hunt down, evaluate/grade, take photos of and enjoy.
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Pillar of the Community
Canada
2301 Posts |
most mint (NCLT) lose value as soon as you pay for them. Very few maintain value at 24 months.
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Pillar of the Community
Canada
2366 Posts |
Speaking strictly from a financial point of view, it is a very rare new release coin these days that you can't pick up cheaper in 6-12 months if you're willing to put in the time on ebay. But as @wildflowerAB says, it's a bit of apples and oranges. And if you just don't like the taste of apples then it doesn't matter if they're better value or not. |
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New Member
 Canada
29 Posts |
I guess the other thing I'm looking at are the looney tunes, Disney, world first type of coins that have a potential value of going up and up. But in how many years will that happen and those coins are generally 100$+. Then you have the 20$ for 20$ coins, do they have any worth? Superman coins? I'm just trying to figure it all out, or do you just go with what appeals to you and not the financial bonus to it.
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New Member
Canada
29 Posts |
And also I've seen the legacy of the Canadian nickel coins. I mean where I'm comin from on my point of view is that someone has to buy the coin for it to be still around in 80 years. People will look back at the coin me hunt for that coin like we are today with certain old coins that were minted 80 years ago. But does this also apply to special coins from the mint?
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Pillar of the Community
Canada
2845 Posts |
Still apples and oranges would be collecting newly minted, bright and shiny copies of an original Canadian coin that was circulated (more or less) decades ago but can still be found today. Buy why future prices go up or down, aside from bullion value, is somewhat based on the concept of supply and demand - how many of whatever for sale compared to how many potential buyers. The supply of old coin is limited to the remainder that still exist. While RCM limits their issues, they make no promises that in future years they will not ever reissue for example another collection focusing on the legacy of Canadian nickels, thereby increasing supply. But as future values, if each of us here could see into the future we could have all been billionaires by the time we turned 40. The key to collecting is collect what you like because it gives you satisfaction and is interesting. But nobody can ever know what future values might be.......postage stamp collecting used to have a huge following, now they can hardly be given away because very few collect them (very low demand). Hope that helps and enjoy it for the hobby in whatever you decide to collect! |
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Pillar of the Community
Canada
2366 Posts |
Hard to say but my feeling is no. People buy the current coins because they're new, shiny and relevant to current themes. They make good gifts or keepsakes. Only a smaller percentage of those buyers go looking for older NCLT and become collectors. Themes become out-dated or, if they are exceptionally popular like Superman, the RCM keeps issuing new ones every year and flood the market so the initial premium on the first ones issued gets degraded. Circulation coins are a somewhat different market where new supply is dropping as people put aside older coins from circulation or they get swept up by the ARP. There is also a debate about whether interest in coin collecting will drop as newer generations deal almost exclusive with electronic funds and don't get that initial collecting bug bite from finding unusual coins in circulation. The consensus opinion is Yes, go with what interests you. If you want to chase financial bonuses then buy lottery tickets instead of NCLT. The best odds for financial gains are on older, high grade, circulation coins. |
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Pillar of the Community
United Kingdom
856 Posts |
I happened to see this thread and thought I'd just add a different view. Not everyone will agree, but I don't see Disney coins as 'coins' myself. They can't be spent as money. They're just collectables like Beanie Babies or Star Wars figures to me. Coins to my mind need to be made to be spent. To be passed from one person to another in trade. That way they gain a history. Disney coins will never need grading or comparing because each one will likely stay in it's packaging, bright as the day it was made. You say Looney Tunes types of coins go for $100 .. My view is for $75 (plus post) you could have this:  What the heck is it? Why, it's a silver coin of the Roman Emperor Philip, dating from 244-249 AD. Which mean if my maths is correct, that it's been around for over 1700 years! Sure, it doesn't have the pizzazz of a big silver colourised lump of metal. But here is a portrait of a guy born in Syria who rose in power to become the 33rd Emperor of the Roman Empire. A coin struck when my ancestors were living at the edge of the Empire and America wouldn't see any European settlers for more than another millennia. And for $75 it could be yours. New coins or old? I think you can guess what I'd choose!  |
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Pillar of the Community
Canada
2845 Posts |
Or consider picking up a used copy of Striking Impressions: The Royal Canadian Mint & Canadian Coinage by James A. Haxby. Learning about the struggles by which Canada eventually gained the right to have our own currency and imagining the toil it took to create them in the days before technology, it becomes somewhat of an honour to own some of them. And imagine your ancestors, when virtually all trade was done by cash, when only a few coins helped put food on the table, wonder how many hands a coin 80 years old might have passed through... Those are some reasons why collectors of old coinage become hooked. New stuff? It never stays new for very long. |
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Pillar of the Community
Canada
818 Posts |
Great post Tom and a great looking coin at that!
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Valued Member
Canada
147 Posts |
It sounds to me like you haven't really decided what you want to collect. That's what you have to decide you want to invest your money and effort. Mint product are nice because they're (often) beautiful, displayable items that you could put on a shelf and show off to the world. However, there isn't the same sort of adventure when it comes to circulation numismatics. Everything from the hunt for THAT coin that you want, to collecting a series, but also finding a hoard of coinage that you can hunt through and just identify and establish the history of. I have many customers that like coins of all condition, just so they can research, establish, and document what has likely happened to the coin using numismatic forensics.
It all comes down to what you want to collect and what you want to do with that collection. There is one thing I tell EVERYONE that wants to collect: the moment you make it about monetary value and value retention, you are no longer a collector -- you are an investor. It is very difficult to wear more than one hat, and trying to do so becomes a major funsuck.
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New Member
Canada
29 Posts |
Amazing advice Universalcoins (Jon)! That's 100% correct, I'm not yet sure what I want to focus collecting. I kinda like a bit of both and I'm trying to figure out what to do... I like all of the currency coins but I'm new to cook collecting as you might have guessed and I'm not sure if I also want to delve into errors or not. Just trying to find some advice as to where to start. #128515;
Edited by PrairieDawg5
08/28/2015 9:43 pm
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Pillar of the Community
Canada
2366 Posts |
You don't have to decide everything right away and you don't have to end up where you started. Start small with something you're pretty sure you'll like and then grow from there in whatever direction interests you or jump to a completely new starting point. You can always sell your old stuff off. If you don't make money off it, so what? It's the cost of the entertainment. You go see a movie and a couple of hours and $20 later, what do you have tangible to show for it? That's a 100% loss but most don't think twice about it. Coin collecting you might lose 25%.
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Pillar of the Community
Canada
2781 Posts |
Old... the older the better. I believe they will hold their value unlike modern gimmick mint issues that tend to drop after initial release. There's just 'something' about the history and character of a coin well traveled.  but hey, if you like shiny trinkets encased in plastic, then by all means, go new |
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Replies: 25 / Views: 4,573 |
Posted 08/28/2015 01:41 am
