| Author |
 Replies: 25 / Views: 4,581 |
|
|
|
Valued Member
260 Posts |
Try not to buy proof sets or commemorative sets especially. The price of proof sets goes down substancially in 5 years! Just look at the list in the Red Book or Blue Book. |
|
Pillar of the Community
 Canada
5589 Posts |
As others have said, 90% of the RCM products are overpriced to begin with and lose up to 50% of their value in the first 3-4 years. If you like the RCM stuff, buy it a few years down the road at coin shows and not from the Mint upon issue.... you'll get much more for your money by delaying. |
|
Pillar of the Community
United Kingdom
856 Posts |
Quote:
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%.
Yup. Always buy what you enjoy and buy for pleasure not profit. Think about it like this. You keep a coin five years and sell it for $50 less than you paid? Don't look on it as a loss. Rather the pleasure of having that coin to look at, to show to your friends or kids, that's cost you $10 a year! How many antiques can you rent for that sort of money? Not many I'd guess, so pretty cheap entertainment I think. Particularly compared to the contract cost of a mobile phone or depreciation on a new car! And I you make a profit? You have a bit more to buy something you like better to enjoy! Quote:
Great post Tom and a great looking coin at that! Thanks AgHoarder. Not mine. I found it on Antony Wilson's York Coins website! (To whom I have no connection, though I have bought from him in the past).  . Edited by Tom Goodheart
08/29/2015 06:11 am
|
|
Pillar of the Community
Canada
2360 Posts |
I have found that over time, my collecting tastes have
changed. Initially I was attracted to NCLT and the shiny
proof coins, glow in the dark, holograms, and privy marked
bullion. Then I graduated to decimal coins, collecting
mostly silver dollars, now I am branching into 50 cents and
quarters. I love hunting for error coins as well. I still
buy some NCLT when it appeals, but mostly older 1/2 price
stuff, keep a want list and snipe for lowest cost. I
have been tempted to collect some of the Maritime
Provincial decimal coins as I have a connection
geographically. So buy what you really like. Your
collecting taste will evolve.
|
|
Valued Member
260 Posts |
As others have said, 90% of the RCM products are overpriced to begin with and lose up to 50% of their value in the first 3-4 years. If you like the RCM stuff, buy it a few years down the road at coin shows and not from the Mint upon issue.... you'll get much more for your money by delaying. Very well said! |
|
Pillar of the Community
United States
1132 Posts |
I purchase both old & new, however the "new" ones are often aftermarket w/ a significant markdown from the mint issue price. The opposite however, is generally the case with the oldies.  |
|
New Member
 Canada
29 Posts |
Thank you for all the advice! I think I'll start with pennies and try to buy best quality of pennies as I can. When the time is right as said previously, I will look for the older mint issue products.
|
|
Pillar of the Community
United States
4233 Posts |
"just go with what appeals to you" - you answered your own question. I know everybody has their anecdote, but I bought a 1971S "brown box" Eisenhower proof directly from the US mint 44 years ago for $10, and I can buy one right now on ebay for $8.99 free shipping. I've looked at it maybe 6 times in that 44 years. I would have been better off with the movie & popcorn investment instead. |
|
Valued Member
Canada
68 Posts |
I'm new to collecting since 2010 and will admit I started with the New coins from R.C.M and soon discovered they pump way too many out every year. I also discovered 90% of them lose value and you won't recoup all your money back. I lucked out and managed to get my hands on the 2011 lady bug coin for retail and when I sold the other coins on e bay to recoup some of my money back the lady bug coin saved the day for recouping all my money back  You see in the time frame I was collecting all these fancy coins the only one, out of my collection that went sky high in value is the lady bug and the rest just lost value. So if your collecting to invest your money then I would recommend you stay away from the pretty shiny coins from R.C.M. but if your just collecting for the hobby and don't mind taking a loss on some of your pretty coins then giver! My self I'm collecting Numismatic and the odd coin from certain mint dealers. Right now I'm just sticking with modern coins between 1937 - 1967 Until I get more familiar with older dates like Edward and Victoria. I would love to start collecting older dates but I wouldn't know how to spot a fake one and you have to be very careful because there's a lot of fake coins out there unfortunately. Also collecting Numismatic I find more challenging trying to hunt down that certain date in Mint State condition.  Hope this helps |
|
Valued Member
Canada
261 Posts |
I think you've settled on a good plan PrarieDawg. Quote:
I've looked at it maybe 6 times in that 44 years. Yep, same here. I spend many hours a week working on, researching or just plain looking at my circulation coins ... the NCLT stuff? I may look at a couple of times a year, much of it I haven't looked at in years. |
| |
Replies: 25 / Views: 4,581 |
First Page
Posted 08/29/2015 04:14 am
