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 Replies: 23 / Views: 5,319 |
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Pillar of the Community
 Canada
5392 Posts |
Over the last few days the Canadian Dollar has started its inevitable slide in
relation to the US Dollar . The reasons are many , a deteriorating Canadian economy and the inability to get any projects built , along with the Covid19
scare are a few.
Canadians just cannot compete with Americans when it comes to buying
our own numismatic treasures !
For sellers like myself this is great as we get to ship south and get paid in USD. For buyers in Canada , not much fun !
Edited by Pacificoin
02/28/2020 08:37 am
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Pillar of the Community
United States
7273 Posts |
I've been picking up Large Cents and the prices are really good. My LCS has a small batch that he has had for decades, few people in the US buy canadian cents.
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Pillar of the Community
 Canada
5392 Posts |
Few people buy Canadian coins in the USA ?
That my friend is where most of the best stuff ends up !
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Pillar of the Community
 United States
1348 Posts |
But Jack, someday I will want to sell. I will need the exchange rate to swing back the other way.
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Pillar of the Community
Canada
5392 Posts |
Rob , Hopefully you and I will see that one day , but we should not hold our breath!
You should consider this a wonderful buying opportunity !
I sure am ! I love my American "cousins " right now .
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Pillar of the Community
United States
1348 Posts |
With all sincerity, it has been a great buying opportunity. I starting collecting one cent specimens about a decade ago. Over past year, not only did Cornerstone and Cook come to market, but the exchange rate stayed above $1.30. In a perfect world, in about ten years the exchange rate swings back the other way, I sell and do well, and these national treasures return to Canada where they really belong.
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Pillar of the Community
Canada
5584 Posts |
Bosox ... please please don't wish the exchange rate to get back the way it was 10 or so years ago. My military pension is in US$$ and I live up here. It's the only way that I can afford the Canadian taxes and prices. I love the 1.33 exchange right now, and wish it was back to $1.50 like it was when I retired and moved up here.
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Pillar of the Community
Taiwan
606 Posts |
When I was travelling to Canada (Ont.) to attend Torex/Cna auctions during the 90's and early 2000's not
only was the exchange rate in my favor but I was exempt from paying GST & PST. Needless to say it was
a huge advantage.
Edited by Everest
02/28/2020 6:57 pm
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Pillar of the Community
Canada
1051 Posts |
On my rather average wages, I was able to put together a fairly impressive set of coins that contained some real rarities/top 10 coins over the years.
A person of average income should not be able to do that, our coins are vastly under priced when you look at it that way.
A $10,000 price tag for one of the best coins known is chump change for many American collectors, especially when they are getting an exchange rate discount.
Even something like a 1921 50c is reasonably priced compared to what an American coin of that rarity would demand.
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Pillar of the Community
United States
7273 Posts |
Quote:
Few people buy Canadian coins in the USA ?
That my friend is where most of the best stuff ends up ! Not saying that residents of USA aren't buying Canadian coins but they don't buy as many as US coins. My LCS has Canadian coins that are decades in a flip and no one purchased it. |
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Pillar of the Community
Taiwan
606 Posts |
People will naturally collect coins of their homeland but Pacificoin clearly stated that he was speaking
of Canadian treasures (the best stuff).
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Pillar of the Community
Canada
2495 Posts |
Good quality, rare date coins will always sell.
But let's not get carried away.
There's no Canadian coin 'gold rush' going on in the States (or any where else, for that matter).
Also, the Canadian dollar has slipped from 1.31 to 1.33 in relation to the US dollar.
I wouldn't call that a 'slide' just yet.
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Pillar of the Community
Canada
5392 Posts |
1.3453 right now and as a buyer you will pay nearly 1.37/
No way CANADIANS can compete with an American buyer .
Especially when they pay NO TAX or duties. On numismatic coins .
Canadians pay anywhere from 5 to 15 per cent more in GST HST
Provincial Taxes . Plus exorbitant shipping costs from Canada Post .
No wonder 80 per cent of our sales are south !
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Pillar of the Community
United States
1348 Posts |
I agree with Pacificoin's comments. It was great that the 1911 dollar stayed in Canada, but just closely watching Cornerstone and being at the Cook sale, I saw maybe $400K-$500K of the very finest Canadian coins move south. I also sat in the auction room and watched lots of the Landon stuff be bought by American buyers. I feel certain there is quite a bit more expensive stuff leaving the north that I do not know about.
Edited by bosox
03/04/2020 12:41 pm
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Pillar of the Community
Canada
2495 Posts |
Bosox......true, I agree with your comments.
But I reason that it is more because the Canadian big time buyers are completely gone, rather than a surge of US big time buyers.
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Pillar of the Community
United States
1348 Posts |
I guess it depends on what you consider big-time. I saw four or five Canadian collectors at the Cook sale drop quite a bit of money. Same with Landon. The Canadian dealers even more at both sales.
I agree that, other than Lantern, I know of nobody who is trying to put together a complete, high-grade Canadian decimal set, like Canadiana or Belzberg. I do know of several Canadians (and Americans) putting together very high-grade collections of individual series or small groups of series. They are out there, but usually pretty quiet about it.
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Replies: 23 / Views: 5,319 |
Posted 02/28/2020 08:19 am
