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Beginner Collecting Circulation Coins

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Author Previous TopicReplies: 6 / Views: 2,025Next Topic  
Pillar of the Community

Canada
705 Posts
 Posted 10/21/2016  6:12 pm Show Profile   Bookmark this topic Add wilsonwu89 to your friends list Get a Link to this Message Number of Subscribers
Hi I'm usually a collector of NCLT but Ive decided to start collecting Circulation Coins in Mint State condition.

Where do you search for UNC coins? Do you guys buy rolls and pick the nicest one for your albums? What's the most cost-effective way to collect MS circulation coins.

Ive gotten 2006-2016 done by taking them out of the Gift Sets. Most of them are Business Strikes (with the exception of the Loonie). I don't think they're treated any differently than those from rolls, unless I'm wrong?

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Also, I dont want to accidently purchase NBU/PL versions of the coins for my album. Is there a way I can differentiate between the MS and NBU/PL? I know for more recent coins in the 2000s, the PL versions have thicker rims and mirror like fields and reliefs, while MS versions have thinner rims and a sort of radial haze in the fields.

Is this also the case for coins in the 60s, 70s, 80s and 90s?
Edited by wilsonwu89
10/21/2016 6:14 pm
Pillar of the Community
Canada
1505 Posts
 Posted 10/21/2016  7:03 pm  Show Profile   Bookmark this reply Add purelywasted to your friends list Get a Link to this Reply
If I remember correctly, MS coins started appearing in the sets in 2010, so your 2006-2009 will be PL's. Depending on what you are planning to collect (date, variety, etc...) post 1968 MS coins are not that exciting or expensive to pickup. With the alloy recovery program coin roll hunting is not as exciting as it once was.

Anything new I get from bank roll/mint FV packages. But I ended up finishing my 1968+ set by talking to SPP (forum member), he had a good price, all MS63 or better and most of the coins I was missing. The last few were found at a LCS. You are pretty much looking at some multiple of FV (2x higher denominations to 10x for lower denominations) for most coins. Varieties or the few harder to find ones you can expect a higher price.

I have found it to not be the most exciting way of collecting, large lot purchases of common coins, but the compulsive nature in me needed the complete set. I am really enjoying 1967 and earlier in higher grades or filling spaces then going on the hunt for higher grades, lots of opportunities for cherry picking, good deals etc... but the cost to enter that market is significantly higher. I am going for a full circulation set 1858 to present (where practical).

Happy hunting and good luck.
Pillar of the Community
Canada
705 Posts
 Posted 10/21/2016  7:20 pm  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
Hey purelywasted,

I meant to say the Gift Sets, not the PL sets.

The gift sets used to have PL coins in them from the 1990s to 2005. After 2005, they replaced them all with Circulation coins (with the exception of the Loonies for some odd reason, these were left in Gift Sets in PL condition)
Pillar of the Community
Canada
1463 Posts
 Posted 10/21/2016  9:39 pm  Show Profile   Bookmark this reply Add Alan to your friends list Get a Link to this Reply
All gift sets pre 2010 do have a different finish from circulation strikes. Polished dies, I would call them pl, though that term is controversial, but they are absolute not circulation
Pillar of the Community
Canada
2845 Posts
 Posted 10/21/2016  11:32 pm  Show Profile   Bookmark this reply Add wildflowerAB to your friends list Get a Link to this Reply

Quote:

Where do you search for UNC coins? Do you guys buy rolls and pick the nicest one for your albums?


It's always great when a NCLT collector decides to pursue circulation collecting!

When deciding what to focus on, this website and values is a very good reference.
http://www.coinsandcanada.com/coins-prices.php

You will notice prices for most 1968 to present coins are quite reasonable. The term UNC and Mint State are interchangeable. The problem with buying Uncirculated rolls, assuming you'd send the best samples to TPG is it can cost more than the value of the respective grade. For that reason many collectors of 1968+ are satisfied with a UNC sample, unscratched and with the original BU lustrous finish, but ungraded. It's very difficult for a novice to identity the exact grade on a nickel or steel coin. Others collect PL, just depends on the preference. As for the source, coins from mint rolls from that era are quite plentiful from dealers, coin shows or ebay.

As purelywasted mentions, 1967 and older can be far more intriguing. Many more varieties and minting processes were not as automated. You'll notice a significant difference in price.

It can sometimes take awhile to determine what it is that one chooses to collect and often preferences can change. If you have an opportunity to seek out a coin shop, it may be helpful to get some ideas as well. Good luck and have fun!

Pillar of the Community
Canada
705 Posts
 Posted 10/21/2016  11:34 pm  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
Hey are you sure?

The pre-2005 gift set coins are significantly different from the ones found in the post-2005 gift sets.

The pre-2005 gift set coins look exactly the same as those found in PL sets. They are high quality, mirror finish.

The post-2005 gift set coins look exactly like the ones found in circulation/business strikes. They even have bag marks and liquid splotch marks on them.

The difference between the toonies is huge. The 2004 one is mirror finished smooth field. The 2007 one has vertical lines in the field exactly like the circulation ones.

Does anyone have a definitive answer on what these gift set coins are? :/

Beginner-Collecting-Circulation-Coins

Beginner-Collecting-Circulation-Coins
Edited by wilsonwu89
10/22/2016 01:44 am
New Member
Canada
36 Posts
 Posted 10/23/2016  01:01 am  Show Profile   Bookmark this reply Add hjnong to your friends list Get a Link to this Reply
The answer can be found in the Charlton Catalogue ( Canadian Coins - Volume One ). The "FINISHES" locates in the "Introduction" part.

Please buy the book... :)

Credit to the Charlton Catalogue: " ... the Uncirculated finish is very similar to the circulation finish, but with slower striking speeds and more care in the loading and unloading of the press... The uncirculated finish is used by the Numismatic Department of the Mint on single and sets offered to collectors, or sold into the gift market... "

So, Wilson was correct. But the loon dollars are exceptional, seems they use two different dies. Please see the picture. Enjoy the loonie collection!





Beginner-Collecting-Circulation-Coins


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