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 Replies: 9 / Views: 2,229 |
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Valued Member
Canada
430 Posts |
Hi collectors, I cames across a couple of $25 boxes of circulated Canadian pennies (50 rolls x 50 one cent Canadian). Of course, I searched them...nothing but a 1947, 1953, and 1957 Canadian one cents, and a 1944 Us penny. All others were just common and rerolled. Of course, I obtained about $1 worth of US pennies, which I kept. As we know, the one cent coins were removed from circulation over two years ago. However, It is hard to believe that people are paying a significant premium to buy these. One seller on ebay is selling boxes of $25 pennies for about $70 Canadian, and he's sold quite a few cases at a handsome profit and buyers are paying for shipping on top of it. http://www.ebay.ca/itm/1-BANKERS-bo...300715352397Why buy silver or gold, when we all could have bought cases of pennies at face value and make about 3 times profit! Am I missing something? Edited by Coinsplus
12/04/2015 11:22 pm
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Pillar of the Community
Canada
818 Posts |
Well any pre 1997 penny has 2 cents worth of copper so youve doubled your money with those
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Pillar of the Community
Canada
1118 Posts |
All misguided speculators that are going to get burnt. (In my humble opinion)
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Pillar of the Community
 Canada
617 Posts |
Dr. Copper (at US$2.10/lb.) says that the commodity market is very sick. The upthrust of the value of Canadian cents in Canada is solely due to the falling Canadian dollar.
Edited by EastVanRob
12/05/2015 01:04 am
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Pillar of the Community
Canada
2425 Posts |
I'm guessing some people are willing to pay the premium because they enjoy the hunt.
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Pillar of the Community
Canada
2845 Posts |
The ebay ads from coin collectors selling circulated "unsearched rolls" always make me chuckle. Only the very naive would ever believe that. |
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Valued Member
 Canada
430 Posts |
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Pillar of the Community
Canada
2845 Posts |
From your link:
"Mr. Dayan believes he'll quintuple his money by selling them to collectors in 10 to 15 years. By that time, he thinks Canada will have eliminated all physical currency and moved to completely digital payments."
If he truly believes this will happen within 10-15 years and thus, it will increase demand, he really should talk to a postage stamp collector and ask them what occured upon the onset of e-communication, email, e-cards, etc!
To further explain - For younger folk, imagine no iPhones, no texting, no email, long distance phone calls VERY expensive.....back to the days of receiving and sending birthday cards, thank you cards, Christmas cards, invitations, and handwritten letters from friends and relatives in the mail. You bet everyone noticed the stamp that got put on the envelope -- it was as important as charging your cellphone has become. Today hardly anyone would be able to say what's the current picture or even how much a stamp costs. Does anyone care about collecting stamps, most people would consider it boring because they have no personal connection to stamps in general. It becomes a meaningless little square piece of paper.
If in the future coin becomes nonexistance, in my opinion interest in collecting will most likely decrease for the same reason. A round piece of metal, big deal......
Edited by wildflowerAB
12/05/2015 1:35 pm
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Pillar of the Community
Canada
2632 Posts |
Searched a box of those once..they're from the Churchill armored car warehouse where they where machine rolled by the millions and sealed with Churchill tape. The box I searched was packaged before 2011, no 2011s or 2012s.
I recently received a box of pennies from my niece who is a bank manager in Calgary..no coins past 2001, tons of beautiful 70s,80s and 90s, lots of 40s 50s 60s in various conditions a US 1919, 2 Can 1920s quite a few 30s lots of 40s and 50s both US and CAN.
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Pillar of the Community
United States
997 Posts |
I bought 3 similar boxes from a guy in the Niagara region a couple years ago for about 2xFace US each shipped to the US. I was very happy with them, they were standard bank or CoinStar type shotgun rolls. He told me he bought them from banks in the Toronto/Hamilton/Niagara area after it was announced that Canada would eliminate the penny to try to make a few bucks. He sold them on ebay but I contacted him separately for shipping to the US. I found a bunch of decent older stuff as well as the usual mix of QEII steel and others. While there were no KGV's there were a batch of KGVI's and only a couple US pennies. I was happy with the purchase and probably would make the same purchase now due to my fascination with Canadian coins. |
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Replies: 9 / Views: 2,229 |
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Posted 12/04/2015 11:55 pm
