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 Replies: 24 / Views: 4,121 |
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Pillar of the Community
Canada
899 Posts |
In todays market of modern coins with mint issues of high population in the tens or hundreds of millions which keeps the entry price levels low is this a wise investment for the future  |
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Valued Member
United States
436 Posts |
Unless it's a scarce or rare error, they just won't ever be worth the slabbing cost, but that's just my opinion.
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Valued Member
United States
324 Posts |
To get an idea as to how prices change over time, a suggestion would be pick up some older price guides from 20 to 40 years ago and compare the prices back then to the prices now. This will give you a good idea as to what has appreciated over time and what hasn't.
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Pillar of the Community
United States
3294 Posts |
It might be a starting place, but one thing to remember is that 20-40 years ago, the mint was not completely flooding the market with different coin designs, so your results might be worse then those older books would indicate.
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Valued Member
Canada
207 Posts |
The entry level sounds low actually they are well over prices. At the investment perspective they are NO NO... for gift and fun they are Nice.
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Valued Member
197 Posts |
Coin collecting is a hobby, not an investment mechanism. If you enjoy handling coins and looking at them, then you could take up collecting as a hobby, but never never expect to get a sure profit out of it. Unless you are buying a $50 or above coin (some use $100), don't buy it slabbed or get it certified. By $50 coin, that means that you can buy it somewhere for $50 after looking around. That usually means it is priced in the books at $85 or more dollars. Certification costs are not cheap and you, as the buyer, will foot the cost of it. If you want an investment, buy a house or land, or study the stock market. If you study hard, research, and learn how to specifically grade your selected series, you may make a profit, but the profit will only be measured by how well you BUY the things that you collect. If you have your eyes set on "grandma bait" from the RCM, then save yourself some time and just start flushing $20 bills down the crapper. If you want to collect coins, the first 3 purchases should be reference books and then a course in grading. |
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Valued Member
United States
324 Posts |
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Pillar of the Community
Canada
1554 Posts |
 Beware buying collecting Modern Mint issues in the year they were produced. The best and least expensive way to by Royal Canadian Mint products is to wait 2-3 years after they are minted and buy them from a dealer then. In most cases you can get them 30-60% off the original Mint prices. Remember, these coins were only meant to Commemorate an event in ones life. That's why they are given for birthday's, graduations, wedding showers, etc. There's usually no limit to how many are minted and 100 years from now they all will still be PF-68/67 Proof / proof like. Now if ya wanna get into REAL collecting, look into acquiring Vicky's and Eddy's. You'll never be disappointed with "The Classics!" Glenn  |
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Pillar of the Community
Canada
1051 Posts |
There's no way to say really, d23. It would seem that the abundance of modern coins out there would mean no, but anything is possible. The MS-67 1967 1 cent that was for sale at the Edmonton show (and is now listed on ebay) is a perfect example of this dilemma. If no other MS-67's can be found, it would be a great one to have. If other MS-67's are found though, it will hinder the potential of all the MS-67's, and reduce the cost of owning another one. For me, there is generally nothing worth collecting after 1978, as I don't like any of the effigies used after that date. I do go to 1981 in my modern sets just to complete the 1965-1981 series though. |
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Pillar of the Community
Canada
1051 Posts |
PS - I think buying coins to "invest" is the wrong idea. Look at Pittman's life - he may have left his family a $30 million nestegg, but he lived his entire life somewhat "going without" to build his collection. His story is amazing, but I don't think it's one that will ever be repeated. He had a knack for seeing what was undervalued when others did not. Today in the internet age, that "knack" has somewhat been leveled by the sheer volume of information that's available to anyone who seeks it out.
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Valued Member
United States
324 Posts |
Pittman's collection was incredible. You can still buy the auction catalogs that have high resolution color pictures of some of the items he obtained. Pittman did not follow the popular trends of the time, and obtained rare items that were being overlooked by others. And he worked very hard at growing his collection. You often have to look at hundreds of coins to find one really good one. Knowledge, hard work, and bucking the trend. Where will the biggest gains come in NCLT issues? In those pieces that grade PR70. Almost no one is looking for them. How do you tell a PR70 coin from a PR68 coin? By developing your ability to recognize the difference in the grade; and there are differences as even Proof dies wear out as coins are minted. This ability is only developed by looking at thousands of Proof coins. Eventually it becomes easier and easier. Where will the biggest gains come from business issue coins? Likely in select varieties and errors from 1858 to the present. Again, you have to know what the market values, what to look for, where to look, and understand grading and availability. This is still a very unworked area of the hobby. There are many many nice coins out there that few are aware of, and many that no one is aware of yet.
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Valued Member
United States
324 Posts |
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Valued Member
United States
324 Posts |
Sorry... that was MS70...
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Valued Member
United States
324 Posts |
Also, that link is misleading - the coin is:
2005 CANADA PATTERN .99999 $50 GOLD ML PCGS MS70
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Valued Member
Canada
372 Posts |
I just see the bid is from a 0 feedback buyer.I would not accept any bid on an item that price from anyone like that.I still have my doubts about the actual sale.It might have been a funny bid.If this item is so valuable how come it did not attract more bids?
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Valued Member
United States
324 Posts |
It might be a scam bid. Time will tell. But the seller has over 18,500 feedback responses at 99.6%, so its doubtful he needed to created a new ID to process the item. Also, its fairly common for higher end coins such as this one (or for odd varieties) to only receive one bid. The original listing was at $17,900 (see item number 130332158017). It was relisted at a lower price when it sold. If he was operating a scam, then it would have made more sense to do the transaction at the higher price. Also, a price like this is consistent with what has been received for other coins in a grade of xx70. Prices like this are fairly common place in the US market. |
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Replies: 24 / Views: 4,121 |
Posted 10/01/2009 4:08 pm
