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 Replies: 27 / Views: 2,345 |
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Valued Member
Canada
333 Posts |
Edited by Jess1234
03/09/2023 7:11 pm
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Pillar of the Community
 Canada
9864 Posts |
Not a good investment.
Almost certain to be worth less than what you paid within two years.
Buy coins you like, not as an investment, coin collecting is a hobby,
"Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
United Kingdom
856 Posts |
I'd echo DBM's comment. If you like them and they give you pleasure to own, fine. But don't be fooled by anything The Royal Mint says about desirability or rarity. Something will need to be in demand in future years for it to work as an 'investment'. Generally things that will make a profit are already scarce when you obtain them. And, unsurprisingly, the more you pay, the more you are likely to make on it. I still have coronation coins that my Dad bought back in the 1950s. Are they worth anything? Not really. Huge numbers were struck and people hid them away and so you can find them on ebay looking as neat as the day they were made because everyone has a few. The Platinum Jubilee 50p have a "limited release" of 1.3 million coins. The sort of thing I collect, there are maybe six examples known to exist. I feel confident I will get my money back. Possibly I'll see a profit on what I paid, although taking inflation into account that might not be as impressive as it might sound in 10 or 20 years. And that's assuming what I collect is still in fashion and there are people who want and can afford to buy it from me. But I don't collect to make money. I collect because I enjoy doing so, I can afford it and find it fun. Nothing wrong with your purchases. But as a hobby, not an investment I'm afraid.  Just for info, this is the sort of thing I collect. It's a shilling (equated to 1/20th of £1 - the value of what is now 5 pence in the UK) struck in 1639 or 1640 under the authority of the first King Charles. I bought it a few years ago for what you'd pay today for two Brilliant Uncirculated 2022 coin sets... Today? Perhaps I'd have to pay twice that to replace it. Does that make it a 'good investment'? Probably not, in that when I got it I could have instead spent the same money on a meal in a fancy restaurant for me and three friends. Now? The same, so really it's just kept pace with inflation! If that makes sense? Edited by Tom Goodheart
03/08/2023 3:08 pm
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Pillar of the Community
United States
2281 Posts |
Not good investment coins, these are overpriced and you will lose money.
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Pillar of the Community
 Canada
5394 Posts |
Investing in coins , not generally a very good idea .
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Valued Member
 Canada
333 Posts |
Wonderful advice! Will definitely keep all your pointers in mind. Thanks so much for your time!
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Pillar of the Community
United States
2365 Posts |
Awesome coins! If you wait quite a while - you'll have a nice investment but, it will take a while. I've been collecting a very long time and now most of my coins are presenting me with a nice ROI!
What you are doing is "Speculative Investments". We've discussed this issue quite a bit here. I happen to have made wise "speculation" over the years and even with inflationary times, my coins have been kind to me. Oddly, my worst investment has been Platinum. Thankfully, those particular coins have Numismatic value which sort of evens it out.
Whatever you do...enjoy yourself and continue to love your purchases!
Rest In Peace Your Majesty the Queen! I adored her! What a strength of character she had!!!
Edited by dsking
03/08/2023 4:44 pm
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Valued Member
Canada
333 Posts |
Thanks dsking! I loved the Queen too! So I love these coins as well! And yes, you're right! Now that you mention it, it was speculative. I thought that since it was her last year, RIP, it may be worth more in the long run. Also, I believed that since it was the first portrait of King Charles, it may also be worth more later. Hope we're right!!!!
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Pillar of the Community
United States
2365 Posts |
Jess1234...I agree with your thoughts that the QEII coins will have more value down the road. If King Charles is a "short term" King then his coins could potentially have a nice ROI. I think that the first coins of William will show good value, if not better than Charles. I adore my Canadian Bullion coins. They're one of my favorite series' of coins! I also enjoy Maples Leafs and other UK coins as well.
Have fun! You've got a great start!
Edited by dsking
03/08/2023 5:44 pm
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Valued Member
Canada
333 Posts |
Thanks for that dsking! Never thought about William. You're right! Nice words of encouragement also! Thanks!
I'm loving this hobby! And my mom would be proud that I'm adding to her collection. She adored the Queen as well. And I feel close to mom when I'm admiring her coins.
These are my first coins from the UK. I just thought it logical to buy from Britain since that's where Her Majesty lived.
Eager to add to my collection and I'll keep on looking.
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Pillar of the Community
United Kingdom
694 Posts |
I would Never purchase anything from The Royal Mint or any of the many sound-a-like 1 man venture online dealers with the suffix Mint. All are private issue coins that have nothing to do with any commissioned coins Just overpriced base metal toot. Just do your homework before you buy any coins. Check auctions for results to give yourself an idea of what you should be paying for something you like. All of us at some point in our fledgling days have made horrendous purchases and have learned through our pocket. Knowledge is power and will keep you pretty safe. |
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Valued Member
Canada
333 Posts |
Hi Zookeeperz, Interesting points, but am I understanding this correctly? Are you saying that The Royal Mint is NOT government owned? I understood I was purchasing my coins from the UK Royal Mint and they are all legal tender. Am I mistaken? One man owned and operated? Not so sure. This is where I bought these coins: https://www.royalmint.com/aboutus/our-vision/Edited by Jess1234
03/08/2023 7:32 pm
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Pillar of the Community
United States
2365 Posts |
Jess...you're dealing with the official Royal Mint of the UK! Not to worry. I'm not sure what shipping costs from them are or if you had to pay VAT but, their coins are great prices. All of their monetary coins are UK Currency, legal tender coins. They are the equivalent to our U.S. Mint. There are many companies that call themselves a "Mint" because they often make their own coins and will re-sell real mint coins at sometimes a high premium. I wanted to add, yes, your Mom would be so proud of you! I inherited my Mom's collection also.  Edited by dsking
03/08/2023 9:07 pm
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Valued Member
Canada
333 Posts |
Thanks AGAIN dsking!
I had to pay the exchange rate which was about 35% more in conversion from £ to CAD$, shipping about 20 CAD$ and duty, about 30 CAD$. At the end of the day, I'm still very happy with my purchase! I love the coins, even if I might have overpaid. But that remains to be seen. The glass could be half empty, or half full, right?
I am now, thanks to you, relieved that they are not from some one man operation calling himself a mint. Thanks so much!!!
Edited by Jess1234
03/08/2023 9:14 pm
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Pillar of the Community
United States
2365 Posts |
Due to the extra costs you probably overpaid but, to you it's worth it and that's what really matters. You now have coins from where the Queen lived. She is missed! Your glass sounds half-full to me!  Edited by dsking
03/08/2023 9:21 pm
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Valued Member
Canada
333 Posts |
Seems half full to me too!! Even if I know I overpaid.
Your mom also? Wisdom well shared! Well deserved for both of us, I must add!
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Replies: 27 / Views: 2,345 |
Posted 03/08/2023 2:27 pm
