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 Replies: 25 / Views: 4,539 |
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New Member
United States
26 Posts |
I live in the United States and know of a coin shop that has tons of Canadian pennies which they sell for face value. They take out are King George V (1920-1936), but they leave in all of the King George VI pennies (1937-1952) mixed in with all the ones from 1953-2012. The best part is they let me cherry pick all the pennies I want so next time I stop by, I've been thinking about buying tons of the King George VI pennies. I already have a plastic jar that's more than halfway filled with these, most of which I got for face value as it is.
I understand that all of them have very high mintages and none are outright rare, but I have watched some coin roll hunting videos on YouTube and it seems that King George VI are pretty hard to find and on top of that, the Canadian government is melting down all of their pennies they get, so this will definitely alter the mintage numbers as the years go on.
If you were me, would you take advantage of this great deal and buy them for face value? Why or why not? Edited by Silver4Face
12/05/2015 9:19 pm
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Pillar of the Community
Canada
1984 Posts |
Why not? Worst case you can probably sell them on ebay for 10 to 15 cents each in bulk. You might find a scarce 48 or 49 variety. |
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Moderator
 Canada
10456 Posts |
There are some interesting Zoell varieties in the George VI 1-cent series...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
United States
4963 Posts |
I'd do it if I were you, there's nothing to lose.
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Pillar of the Community
Canada
1747 Posts |
Also 1948 is actually low mintage
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Pillar of the Community
United States
4963 Posts |
It's fairly low, but 1937 and 38 are lower.
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Pillar of the Community
Canada
617 Posts |
I would do it.
why? because you could build yourself a nice little collection of 60 -70 year old coins for pennies (excuse the pun).
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Valued Member
United States
306 Posts |
I'd buy 'em all...no hesitation.
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Pillar of the Community
Canada
818 Posts |
It seems like everyone in the world is getting discounts on Canadian coins except Canadians.  I will definitely make a point of visiting foreign coin shops in search of Canadian content if I ever get the opportunity. |
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Valued Member
United States
324 Posts |
Probably the only way most of us will ever get a 1943 bronze cent.
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Pillar of the Community
Canada
1984 Posts |
Ag Hoarder: "I will definitely make a point of visiting foreign coin shops in search of Canadian content if I ever get the opportunity." I have tried stopping in at coin shops on a few occasions. They usually have almost nothing. A (the?) dealer in Reykjavik told me he puts all his Canadian stuff up on ebay. Other times they tend to focus on Charlton or some other catalogue for setting prices and have not been realistic in their expectations. Maybe the US is better? |
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Valued Member
Canada
118 Posts |
It probably depends on the location in the US. In Palm Springs, I spent an afternoon making a mission of hitting the coins shops. In every case, selection was poor, and prices were very high, even though the shop keepers said they were "negotiable." There was nothing worth negotiating on.
In other places, perhaps Florida, maybe NY, it would make more sense.
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Pillar of the Community
United States
621 Posts |
If I was you. Yes, I would take them all at face w/o a second thought. Personally I'd also start on the rest they only want face for too.
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Pillar of the Community
United States
621 Posts |
Then again maybe not. I'd have no second thoughts on buying at that price but I'd feel kinda greedy if I took them all because then other collectors who might like them miss out. So I'd buy maybe 70% of them or so probably.
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Valued Member
Canada
158 Posts |
Face value is like 75us cents to 100cdn cents right now so if you took all of the dealer's stock, they might even give you a deal to get it out of the store.
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Pillar of the Community
Canada
3049 Posts |
Understand you're doing the dealer a HUGE service here taking the Canadian currency.
#1) The U.S. dollar has greater value right now ... so you should be looking to incorporate the exchange rate into the transaction.
#2) Cdn coinage isn't widely accepted throughout the states. Sure some gets through but the banks won't accept the coinage. That means this dealer if he/she has a large amount is basically stuck sitting on a bucket of metal waiting for someone who is interested. I have in the past for more common date material bought canadian coinage at 70% face and that's when our dollar was close to par.
I would look at trying to negotiate somewhere between 50 and 70% of face at that point you're STILL doing them a huge favour.
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Replies: 25 / Views: 4,539 |
Posted 12/05/2015 5:30 pm
