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 Replies: 22 / Views: 1,998 |
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Pillar of the Community
United States
1259 Posts |
Just finished watch TCNC sell 102 lots involving Canada large cents. FWIW, none were consigned by me. A few thoughts:
1. Many were variety lots, almost all in ICCS and CCCS holders. I am guessing at least some were consigned by one of our CCF members here. The variety lots nearly all sold and most had multiple bidders. I believe this has been a decades-long knowledge evolution starting with Zoell, Griffin, Haxby, and others progressing up though the old CCRS chatroom to our 2011 Charlton working group, Haxby's 1859 website, and my books. I also think this forum now helps keep the popularity of varieties higher.
2. I was encouraged by the variety price action but, like I said in another thread here, the competition and hammer prices for the variety lots seemed less than that for the non-variety date lots. What I mean is that, even though many of the varieties were the much scarcer lots, the date lots generally sold higher. Given their scarcities, in my opinion many of the varieties sold too cheaply. It tells me that, although quite a few do, many set collectors still do not collect the varieties.
3. Several of the CCCS 1858 varieties sold by Turner die numbers. Warmed my heart.
Happy collecting!
Edited by bosox
11/22/2024 8:35 pm
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Pillar of the Community
Canada
1530 Posts |
I had consigned a few individual ICCS-certified coins for this auction; they sold for considerably less than average...
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Pillar of the Community
 Canada
5158 Posts |
What we are starting to witness ( coin auctions just a small snippet )
a Canadian economy about to go off the rails as compared to our
American cousins . The end result lower returns than expected .
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Pillar of the Community
 United States
1259 Posts |
johnnysprawl - out of curiosity, were your coins variety cents, or other types of coins?
Edited by bosox
11/23/2024 12:19 am
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Pillar of the Community
Canada
1530 Posts |
One was an 1898 5c MS-62 that went for $350 (CaC auction average of $550); the other was a 1932 5c with the Far 2 variety (VF-20) that went for $375 (CaC auction average of $650). I have a 1985 25c struck on a NZ planchet up today, but I am not holding my breath it will sell well. I agree with Pacificoin; I also have numerous ICCS coins up on ebay at reasonable prices and a Best Offer option that have been languishing forever. |
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Pillar of the Community
Canada
1965 Posts |
With silver at around C$44 an ounce, the silver value of a 50 cent piece is about C$13. With the exception of key dates and high grade coins, in my experience there is not much of a market for George VI and Elizabeth 50 cent coins at that price (or for that matter quarters at $6.50 or silver dollars at $26). I expect we have been and will be seeing another major wave of common silver coins being melted down. Sooner or later this will tighten up the supply.
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Pillar of the Community
United States
1259 Posts |
I don't dispute that the Canadian coin market is slowing overall due to macro-economic factors, both in Canada and the U.S. As an American who collects Canadian, the exchange rate is important to me. As it approaches $1.40 CAD to $1 USD, buying should be great, except I am at the point I don't really buy that much anymore. As I look to start selling (I am over 70 now), the current exchange rate is a problem for me.
One other thing, what does CaC include in their numbers? Using your 98 five cent as an example; $350 hammer plus 20% juice - $420, adding 15% tax bumps it to $483 for a Canadian buyer.
I agree with the melt comments.
https://www.victoriancent.com2011 Fred Bowman Award Winner, 2020 J. Douglas Ferguson Award Winner, & 2022 Paul Fiocca Award Winner
Edited by bosox
11/23/2024 12:15 pm
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Pillar of the Community
United States
1259 Posts |
Sigh....CAD/USD just spiked to nearly $1.42 on tariff talk.  Edited by bosox
11/25/2024 8:21 pm
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Pillar of the Community
Canada
5402 Posts |
But you know, Rob, that $1.42 looks real good on my retired military pay when I live in Canada. But it was $1.53 when I retired and moved up here 27 years ago.
Correction today, as I just checked, it's $1.4136
Edited by okiecoiner
11/25/2024 8:52 pm
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Pillar of the Community
United States
1259 Posts |
Agreed, Bill. Depends on perspective and what you are trying to do. I just do not think that a high rate helps the Canadian coin hobby. Closer to parity is an overall better situation IMO.
A high rate sends the better coins south and they stay there.
Edited by bosox
11/25/2024 9:10 pm
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Pillar of the Community
Canada
5294 Posts |
Almost impossible to outbid an US bidder on Heritage or Stacks as a Canadian, with juice, exchange and HST over 70% to repatriate home, weak Canadian dollar
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Pillar of the Community
United States
1259 Posts |
Not just at the US auction houses. An American bidder in a Canadian auction pays no HST for delivery to US and converts USD to pay the invoice.
The rub, as I said, is selling. A U S consignor of Canadian material is practically forced by the exchange rate to sell in U S venues.
John100 - the exchange rate is the main reason why two of the three best large cent collections are sitting in US bank vaults.
Edited by bosox
11/26/2024 12:57 am
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Pillar of the Community
Canada
5402 Posts |
I agree that Canadian sellers are having to bite the bullet and it may get worse by 6 Jan.
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Pillar of the Community
Canada
5158 Posts |
January 6 ?
Correction ..Jan 20 th.
Not to get political, but the new guy ( the old guy reelected)
coming in could spell economic disaster for the entire North American
economy , with 25 per cent tariffs. I guess he conveniently forgot
the USMCA. According to him his biggest accomplishment in his first
term .
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Pillar of the Community
Canada
5294 Posts |
I can also attest that a lot of Canada best currency, coins, and errors resides in US and Asia, always thought this fact was kind of strange
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Pillar of the Community
United States
1259 Posts |
Over $1.43 today and probably headed higher.
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Replies: 22 / Views: 1,998 |
Posted 11/22/2024 8:27 pm
