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Collecting Coins For My Child

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Caro_chill's Avatar
Canada
0 Posts
 Posted 04/16/2020  5:25 pm Show Profile   Bookmark this topic Add Caro_chill to your friends list Get a Link to this Message Number of Subscribers
Hello guys!

I know very little about coin collecting and hoping to get some guidance on a few questions I have.

For my son's first birthday, he received 2 special coins from Royal Mint Canada. I was thinking of starting a small collection for him, by purchasing coins from each country we plan to visit and possibly some Canadian coins I like for birthdays.
I am a bit disappointed, as we have gone to South Africa and Lesotho when he was six months old and we did not purchase any coins :(

Is it possible to find coins for these countries online? I am looking for New circulating coins or a collectible coin at a reasonable price. See picture for the types of coins I'm referring to.

What are your thoughts on this type of « collecting »?

Thanks for your input


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John1's Avatar
United States
56855 Posts
 Posted 04/16/2020  6:12 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
to CCF.
John1
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oriole's Avatar
Canada
5239 Posts
 Posted 04/16/2020  6:46 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
to the CCF.

It is a nice idea you have, but in my opinion the collecting bug needs to develop from the inside too, as well as from getting nice gifts. He is obviously too young now, but eventually you might try to engage your child in the designs and let him make choices, among other things.

You should easily find mint sets or collectible coins on ebay, given that most coin stores are temporarily shut down.

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matthewvincent's Avatar
United States
3486 Posts
 Posted 04/16/2020  7:22 pm  Show Profile   Bookmark this reply Add matthewvincent to your friends list Get a Link to this Reply
How refreshing it is to read your post!
You are trying to link the coins with your son's experiences. While he may be too young
now to remember the events eventually he will. If he develops an interest in the coins themselves you have been instrumental in the raising of a coin collector!
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Wade's Avatar
Canada
2781 Posts
 Posted 04/16/2020  9:16 pm  Show Profile   Bookmark this reply Add Wade to your friends list Get a Link to this Reply
stay away from the mint issued stuff (like the ones you've shown). commonly known as "granny candy".

they are shiny and cool and expensive now, but in a year or 2 you will find them for sale for half of the issued price.

education is key, if you don't want to spend the time getting to known the hobby then you could be throwing money away.

if it is for fun, like a yearly coin set for every birthday, then cool - enjoy it for the fun factor but don't look at this as an investment
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Dorado's Avatar
Canada
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 Posted 04/16/2020  10:56 pm  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply
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jbuck's Avatar
United States
187702 Posts
 Posted 04/17/2020  11:43 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
to the Community!

Your post was moved to the appropriate forum for the proper attention.
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United States
20753 Posts
 Posted 04/18/2020  08:34 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

As already stated be careful purchasing coins that will soon be worth a lot less than what you paid. Spend some time here asking questions.
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Fuzzy317's Avatar
United States
14463 Posts
 Posted 04/19/2020  12:27 am  Show Profile   Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
The last few years, I have been buying coins for my niece and nephews, Grandniece, and Grandnephew. I didn't really want to get all the coins in a mint sets: lots of coins, and having to store them. For the older kids I bought ASE for their birthyear. For those just born, I usually give them a Littleton Coin Company showpak for their first Christmas:
Collecting-Coins-For-My-Child
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United States
20753 Posts
 Posted 04/19/2020  09:29 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Unfortunately my advice would be to not buy coins for kids. I used to do that myself a long time ago. I used to buy a Proof set and a Red Book for as many as 14 people. I stopped that after many years due to finding out most never developed a coin collecting habit and simply sold off all the stuff I gave them. Not one person from those days had even one coin left. I wasted a lot of money due to not giving kids what they want and only what I wanted. So many people try to start kids on a hobby at a way to early age. I suggest to wait until you can ask them what THEY want.
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Princetane's Avatar
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 Posted 04/20/2020  05:39 am  Show Profile   Bookmark this reply Add Princetane to your friends list Get a Link to this Reply
I would buy the child some common used coins, like a bag of 100 different or a pound of mixed coins.
Many cheaper coins from far away places would be much more fun than just one expensive granny bait coin like that.

Buying a small child a collectible silver coin, will bring little interest as they will play with it and get an ear bashing for destroying the finish or they will not they are damaging it, whereas a bag of old copper and nickel coins that are cheap and easy to find, he/she can play with them all the time.

I think $20 should get you at least 100 decent older coins (Try the cheap coin boxes at a dealer if you have one or buy a mission mix off an ebay dealer).

The more coins from different countries the better as the child can learn about the places they coins are from and even better, include some worn old British pennies or something over 100 years old and there you have some history too.

So much better than overpriced collectables and NCLT stuff.
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oriole's Avatar
Canada
5239 Posts
 Posted 04/20/2020  07:03 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
@princetane, the child is 1 year so unfortunately too young to handle small objects. Later on yes,
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Princetane's Avatar
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 Posted 04/21/2020  05:59 am  Show Profile   Bookmark this reply Add Princetane to your friends list Get a Link to this Reply
Then you need to wait until they are 3 and buy them some playmoney

Those expensive coins though will fail to make much meaning until the early teens at earliest.

I still say - at 3 or 4 buy them some play money (I am unsure of gender, but usually say he, but if the chils is she I will no doubt get lynched by angry feminists - so I err on the side of caution).

5 to 6 familiarise themselves with real money

8 or so - get the 100 or so common world coins

By 12 you will know if they love coins or are just into video games, the net etc.

Not before 3 as little children could swallow coins and choke on them.
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Finn235's Avatar
United States
6130 Posts
 Posted 04/21/2020  2:45 pm  Show Profile   Bookmark this reply Add Finn235 to your friends list Get a Link to this Reply
IMO, if you are buying coins to relate to trips your son has taken, you shouldn't be buying anything. When you get to the country, exchange maybe $5-10 for a variety of coins and notes and bring those back home, then put them into flips with info about when you got them, in what city, what you used money to buy, etc.

You can buy coins wholesale by the pound on ebay for as little as a couple bucks per pound. These make a great educational experience, but a poor investment as many countries demonetize/revalue their currency every 25-50 years, and there aren't many post-WWII coins that have significant collector value.

As others have said, don't buy gimmicky "non circulating legal tender" coins as an investment - they lose value over time as supply far exceeds demand for almost every issue, and in many cases banks won't even accept the coins at face value.
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