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Replies: 47 / Views: 8,226 |
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New Member
Canada
17 Posts |
At this past CA auction I managed to snag some cool NZ Mint Greek Mythological Creatures (Gorgon & Centaur) for $1 above start price. I would have had all three lots (missed Minotaur) but I was distracted for a minute and missed on it (it also sold at $1 above start price). Grabbing these guys is a bit more difficult (read: pricey) in the open market than what I got them for at auction even with buyer's fee and shipping added on. That's now my MO for coin acquisition; purchase at auction ( ebay). Only XforX I get at Mint (have a boutique in my city so I can see/hold all new releases if I really am curious). Learned my lesson early with the Great Lakes coins (seeing how far they dropped as a set; still like 'em tho!). Never did buy into the hype and spiel the Mint churns out. Glad (for the most part) that I didn't.
Edited by AgentArgent 06/20/2016 11:31 am
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Rest in Peace
Canada
1360 Posts |
I understood how 'auctions' work, but for online auctions - where I did all the work, that buyer's premiums was extremely steep. My winning bid was $131 on an item, but, by the time all the fees, shipping, and taxes were added on, my invoice total was $$194.72 (yes, that's two dollar signs!) Was that normal? The breakdown as follows: bid: $130.99 Fee: 23.58 tax: 23.19 Ship 11.30 (includes $1.30 tax) (optional if I pick up?) CC chrg 5.67 (I suppose this is optional if I send cash!) Grand Total $194.72 (48.65% over my one and only bid) Back to ebay. Where the seller accepts the fees.
Edited by Dcadon 06/20/2016 11:42 am
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New Member
Canada
17 Posts |
Dcadon: Was that this CA auction or a different one? Why so much tax on the item? (Thought pure silver/gold items are non-taxable)? My three items had no extra tax added (only $.75 for tax on shipping).
Buyers fee for this CA auction was 18%. Shipping is usually 10-20 bucks depending on the courier company used. If you paid by cash or cheque/debit/e-transfer to CA you got a 3% reduction of your total cost.
With the high shipping costs you need to knock down the per coin cost by grabbing multiple coins (afterall they're all part of one shipment). As someone else stated earlier multiple coin sets tend to be value bets (already lowered cost than issue price) at auction (also because they absorb the cost of shipping per coin too)!
The extra costs also factor into my maximum bid too, as I know those extra costs are looming after the hammer falls. I don't stray too far from start price to guarantee I get somewhere from 35-45% (rarely 50%) off list price of the coin.
Edited by AgentArgent 06/20/2016 12:11 pm
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Valued Member
Canada
194 Posts |
It's unrealistic to think everything the mint puts out will go up in value, if so everyone would be a coin collector and like in all investing, some people are better then others at picking the winners.
The deals in the secondary market are the coins that didn't do so well, but every year there are coins released you're NOT going to find for less then release price.
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Rest in Peace
Canada
1360 Posts |
It was a silver item, but before they went to 'fine' silver - so taxes are applied on 'Sterling'. I was $5.00 over the 'start price'. However, the 'list price' is only speculation. It was the first of the First Zodiac series - Coin and Stamp Set - where I've see the coin (by itself) sold nearly $300 or $400 on ebay, I thought $131 - was a pretty decent price.
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Valued Member
Canada
194 Posts |
A new coin is released that I want: Mintage 7500 or lower, - BUY from mint.ca (sometimes I'll speculate and order an extra 1 or 2 as well) Mintage 8000 or higher - see how quickly it sells and if it's not selling out WAIT for it! I also buy the max XforX coins mint.ca will allow. In the last year I purchased just over $5000 from the Mint and $2500 aftermarket.
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New Member
Canada
17 Posts |
Dcadon: I'd say you still did fairly well given ebay sell prices; the add-on fees do add some vinegar to the sweetness of getting a desired coin though.
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Pillar of the Community
 Canada
2984 Posts |
Quote: It's unrealistic to think everything the mint puts out will go up in value, if so everyone would be a coin collector and like in all investing, some people are better then others at picking the winners.
The deals in the secondary market are the coins that didn't do so well, but every year there are coins released you're NOT going to find for less then release price. The RCM put out more than 300 coins a year. Of those coins only a handful you can't get at issue or near issue. The only clear cut winner this year is the Pysanka coin. Practically every coin can be found at close to issue price if you look hard enough.
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Valued Member
Canada
194 Posts |
@MoneyPenney The Queens 90th birthday coin release price of $99.95 has sold on ebay 31 times since release and the price is trending upwards; Jun 11, 2016 $210.00 May 27, 2016 $200.00 May 25, 2016 $183.38 May 24, 2016 $296.04 May 17, 2016 $169.95 May 16, 2016 $159.95 May 15, 2016 $162.00 May 12, 2016 $161.50 May 10, 2016 $139.00 May 8, 2016 $159.95 May 7, 2016 $135.00 May 6, 2016 $141.55 May 6, 2016 $141.55 May 6, 2016 $159.95 May 3, 2016 $128.95 May 3, 2016 $149.95 May 3, 2016 $144.89 May 3, 2016 $144.89 May 2, 2016 $139.95 May 1, 2016 $137.50 May 1, 2016 $144.89 Apr 30, 2016 $142.00 Apr 28, 2016 $144.50 Apr 28, 2016 $144.89 Apr 28, 2016 $139.95 Apr 27, 2016 $144.89 Apr 27, 2016 $129.95 Apr 24, 2016 $138.95 Apr 23, 2016 $138.95 Apr 22, 2016 $134.95 Apr 22, 2016 $134.95
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Pillar of the Community
 Canada
2984 Posts |
onecad, I said a handful of RCM coins each year do well. Besides the Pysanka and the Queen's birthday, what other coins have done as well? There have been more than 100 coin releases already and only 2 coins have been a big hit.
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Valued Member
Canada
194 Posts |
140th Anniversary - Library of Parliament did ok, you won't get it for release price and to a lesser extent the Mother Earth coin. A few inukshuks went for release but most were 25% over.
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Pillar of the Community
Canada
659 Posts |
Just checked the Mother Earth coin ebay "solds." I'm glad I bought it for $100 because that coin is hard to find anywhere near that price.
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Pillar of the Community
Canada
6768 Posts |
You forgot small detail, guys. On these type of auction will be no recent coins, but issued couple of years back. The list of "sold prices" - hype period. Exactly what was with the "Inukshuk" coin. Raising in price only the coins with "limited supply" - like Pysanka or Voyageur, all the rest - the way is only downhill of the market prices (this doesn't make coin less attractive for collectors, but to resell it will be possible only for near 50% of issue).
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Pillar of the Community
 Canada
2984 Posts |
Quote: 140th Anniversary - Library of Parliament did ok, you won't get it for release price and to a lesser extent the Mother Earth coin. A few inukshuks went for release but most were 25% over.
If you look hard enough you can find all 3 of the mentioned coins at issue or near issue. This Parliament coin went for $154.95: http://www.ebay.ca/itm/2016-Canada-...AOSwepJXWZhmThis Mother coin went for $122.50: http://www.ebay.ca/itm/2016-Canada-...AOSw9a5XPygqThis gold plated Inukshuk sold for $54.00: http://www.ebay.ca/itm/2016-Inukshu...AOSwYmZXEqf-The Inuksuk did well early on but the price has dipped as the hype died down. Unless you are a new coin collector you should know that all RCM coins follow a similar pattern. When coins are new there is a bump in prices because of hype. As time goes on, prices drop for the vast majority of coins. Many coins can be found at discounts just months after release, And that is just in the short term. What about the long term? That is where you look at coin auctions. Coin auctions give you an idea on what your coin collection is worth. Look at coins that were issued 10, 20, 25 years. They go pretty cheap. If you get a buyer that is, many older NCLT coins don't even sell.
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Pillar of the Community
Canada
659 Posts |
That's why I'm glad I bought it for $99.95, including shipping, instead of paying 33% more. Sure, most coins drop in time, but some don't. I took a gamble on this one not dropping too much. If it does, so be it. I really enjoy the coin, and that's what matters.
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Replies: 47 / Views: 8,226 |