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 Replies: 36 / Views: 6,213 |
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Pillar of the Community
United States
2408 Posts |
Kiddo,
Explain again, what's wrong with me and a few others collecting NCLT from the mint? Not sure I fully understand your point, and its relationship with the penny going obsolete.
I understand you're are unhappy about something.
Glad you can voice your frustrations and have a couple good buddies to cheer you up.
Edited by canadian_coins
12/15/2010 12:08 am
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Pillar of the Community
Canada
1554 Posts |
 Personally I would like to see the elimination of all three of the lesser denomination> 1c, 5c, and 10c. Just round the total of the amount to the nearest 1/4. It may be a loss of a few $'s at the end of the year for Canadian's, however, think of the hassle it would save not having all that change in your pocket!! Glenn  |
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Pillar of the Community
Canada
3692 Posts |
While we're at it, let's just pretend we have imaginary money with imaginary units within it. Please....
If governments really wanted to save money they would just issue 5 Cents and 20 Cents coins and everything would be solved. Nothing happens by accident. Somebody out there is profitting from pennies being made.
It's my strong opinion that there's enough money to go around in coin form. The problem is inflation and people being brainwashed into accepting virtual money. We have to bring our ideas back to Earth.
@hhbkiddo: I'm amazed this hobby agrees with you! You have a strong point. I know a senior who said that mintages and the ilk are fabricated so that you end up buying the books and obviously the coins. Who really knows for sure?
Edited by Libertad
12/15/2010 07:38 am
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Pillar of the Community
Canada
1248 Posts |
ok, here it goes again:
all that "legal currency Junk" is worth exactly what it says on it!
if thee is an error, you can be almost certain that this artificial mint error is not really an error, but that it has been created by the mint to make the series interesting.
Unless you buy these mass produced "coins" because you simply just love them, there is most likely NO monetary appreciation to be had. So why are you collecting?
Ask one of the more private,smart, astute, ever so careful Collectors of REAL Canadian coins on here and he will tell you what a real collection of Canadian coins should look like.He will also tell you what you can expect of real Canadian coins regardless on which level of grades you start.
Right Glenn?
Chime in please and let us have your experience. You are an excellent writer and can do a much better job than I can.
AND, I know you understand what I am trying to say here....
as far as the Penny is concerned... BYe BYE.... and Glenn is right.
however, ONLY the real pennies will have collectors value and will increase faster from now on...
Magnetic, not magnetic, yellow, black pink... all done for the mass collector....
have a great day all, I am glad the cooper is on the way out...
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Valued Member
Canada
78 Posts |
I think the coppers been on the way out since 1980, almost fully after 1996!  As far as "Real" collectors - a collector is a collector is a collector. All one has to do is look at ebay and see the premiums some non circulating coins from the RCM. There are people who collect them. Now if your talking about Investors, well that's another story. As with any investment, Do Your Own Due Diligence. |
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Valued Member
Canada
55 Posts |
The rounding up, or rounding down of purchased items will occur only on the total, including taxes, so there is no difficulty as far as taxes go. You buy 10 items... total with tax comes to $89.91. So total is rounded down 1 cent. And this senario only occurs if you are actually paying CASH for a transaction. Debit and credit card transactions will not be rounded up or down.
Good bye penny, (actually called 1 cent in Canada)No more will I have to spend time rolling and lugging to the bank this worthless item.
Also remember the environment and the carbon foortprint that the mining, manufacture and transportation of these thousands of tons of useless cents create!
CENTS make no SENSE!
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Valued Member
Canada
307 Posts |
heathens   and thats all I got to say about that |
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Pillar of the Community
Germany
992 Posts |
Collect what interest you, collect what you can afford -- that's my motto So, I have no problems with folks collecting Canada's odd denominations or the myriad variations of 25 Cents and 50 Cents coins. However, it's not my cup of tea. And despite what some of those coins get on ebay or at other auction places, one should be very aware that one is collecting in a very narrow field where there can be „nasty" surprises in the long run. If the 1 Cent coin is withdrawn from circulation I wouldn't mind if it still stays in sets like the „normal" 50 Cents coin. Both denominations have a long history in contrast to the „odd" ones. Nevertheless, I will regret the end of the 1 Cent coin in circulation. But I am from Germany where we still love or One and Two Cent Euro coins. I must say however, that the RCM has one of the most aggressive and indeed excessive coin issuing programs in the world. Clearly, they are trying to make as much profit as possible. I am not a fan of it. But if there weren't a market they wouldn't be making those odd denominations and myriad variations. No one is forcing you to collect them! Edited by redlock
12/16/2010 09:49 am
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Valued Member
Canada
94 Posts |
Directed @ bibd (or anyone else who can answer)
Are they necessarily going to demonetize it or just stop making/circulating them?
If they were to officially going to stop circulating pennies my plan was to get a few boxes worth, go through them for my collection, and either return the rest as soon as possible or just keep them.
I didn't think keeping them was a big deal because I figured they'd always be worth at least one cent and I could always send them back if I had to. However, now I'm not so sure. Can you clarify this for me?
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Pillar of the Community
Germany
992 Posts |
@NickleHalfDime:
As there hasn't been an official decision to eliminate the One Cent coin your questions cannot be answered yet. The details need to be worked out if it comes to the elimination. And that hasn't happened yet.
Edited by redlock
12/17/2010 03:42 am
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Valued Member
Canada
287 Posts |
As long as the penny is legal tender and part of the Canadian monetary system I will collect them. Once they officially demonetize it, I believe the mint can no longer make them. The 50 cent piece has not been demonetized, and it was a simple business decision on the part of the mint not to spend money of putting them into circulation. Since it is still legal tender, I will still seek one out for each year.
Numismatics is the study or collection of currency, including coins, tokens, paper money, and related objects. By definition alone I see no reason why someone would not have an interest in collecting the numerous overpriced souvenirs that the mint produces. I personally have a few of the interesting commemorative 'coins' (like the wedding quarter for the year I was married), but I have no interest in most of them. To each their own I say.
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Pillar of the Community
United States
535 Posts |
Quote:
Unless you buy these mass produced "coins" because you simply just love them, there is most likely NO monetary appreciation to be had. So why are you collecting?
Ask one of the more private,smart, astute, ever so careful Collectors of REAL Canadian coins on here and he will tell you what a real collection of Canadian coins should look like.He will also tell you what you can expect of real Canadian coins regardless on which level of grades you start.
Right Glenn? If your only goal is monetary appreciation, why are you "collecting" coins? Why not just "collect" precious metal and resell it when the price goes up? I have a huge collection, and I'm sure a lot of people would have no interest in it, but it doesn't matter to me because I enjoy it. Should I strive to have a collection that looks exactly like Glenn's? Are you seriously implying that there is somone on these forums that knows what my collection "should look like"? While I appriciate how private, smart, astute, and careful someone may be, I could care less if they consider my collection "real" or not. Its pretty rude to insult someones collection simply because the coins did not circulate. |
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Pillar of the Community
United States
2408 Posts |
No worries Karrlot - typical RCM/NCLT bashing. A handful of individuals who just can't tolerate - or as one famous actor once said "can't handle the truth" about people actually collecting something else other than pocket change. I guess that rules out PL sets, SP and Proof coins, patterns, silver dollars post silver era, etc..... To a certain extent, that would rule out first day strikes, RCM rolls, or special edition UNC sets of circulating coins - or anything that comes out of the Mint that is individually wrapped. Not sure about the nickel 50 cents - this may not be considered to be real collectibles anymore. Same goes for the nickel dollars... since they hardly circulated. But they may be OK. Some also think that varieties and mint errors are a joke... Oh well... Next is the penny. |
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Pillar of the Community
Canada
650 Posts |
Please eliminate them, a pain and then look at the nickle. I love them both but they are past.When Canada introduced them they had the purchase power of about 30cents in today's money to the best of my ability to calculate.Glenzy would be right at going straight to the quarter.
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Pillar of the Community
Canada
3692 Posts |
But see, the cents WOULD make sense if they were worth more. It's not a good idea to take them out of circulation. The tool or means to make change already exists.
A radical idea: electronic poker chips whose value fluctuate daily. That way they keep chips in circulation but they get spent because they rise in value - the tool isn't value in itself, it's only that - a tool. The same goes with money instruments.
This is sort of my idea with how money is just being taken from the poor - that's what's happening. Do you think wealthy people bother to look at pennies? Or banknotes for that matter? This is straight robbing from the poor and giving to the rich.
Think about this. Pennies won't be given out as change. They will, however, be taken in multiples of 5 or 10. The money supply is being physically shorted 5X. Things will cost more and you'll have to turn to your last cents to buy bread. Am I off base? Pennies were engineered to be repulsive. The dollar will be fractioned into 1/20 and not 1/100. Which is fine by me, but get real about it, and rename cents entirely. Call them "vingts" or "twentieths" now.
I'm asking why a sensible person would do this to the poor?
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Replies: 36 / Views: 6,213 |
First Page
Posted 12/15/2010 07:20 am
