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 Replies: 24 / Views: 4,472 |
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New Member
Canada
21 Posts |
Hi All, I'm interested in getting into collecting but I'm not sure what I should collect. I rummaged through a lot of old coins from my parents and I do work in a cash business where I would get a chance to look through a lot of change so I was thinking about making a series for the pennies/nickels/dimes/quarters/loonies/toonies. But the thing is...I'm not that fond of the canadian coins of today or even a bit older ones. I like the mint ones that I see on RCM. I just like that shiny and new look. Before I started reading forums and reading these guides - I saw RCM and really wanted these colored ones : http://www.mint.ca/store/coin/14kar...Id=cat200032They looked so cool - which is a great feeling of what I want to collect right? But coming on various forums, I read that buying directly from RCM is a very poor choice in terms of investment and also the colors flake off over time supposedly because it isn't that good quality. Also I like something that at least feels like they will keep their value - I don't expect them to appreciate but at least keep their value or increase slowly/consistently over time which I've read doesn't happen to most things coming directly from RCM. Not sure what I'm asking but I'm just kind of lost on where I should put my resources. Here are my instincts on how I feel about coin collecting after reading/browsing a lot these last 3 days... - I really like high quality/mint condition/shiny coins - either really old or really new. - not that fond of the circulating coin designs - I like things that at least keep their value and go up (even if its slowly) over time. I don't really want to see something I bought 30 years from now at a lower price....not sure if this is unavoidable.. - I really like the artwork from RCM, the colors, the mintness... - I rather have a handful of high quality valuable mint coins than good/avg/low quality collection What should I do! Ken |
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Valued Member
Canada
274 Posts |
Hi ! Some more advanced will answer to you later. I don't know how you call it but the commemorative coin of the RCM, I don't know for what it can sell more that 1 by year... "how to loose your money in a minutes" The coin look good but for the value.... you loose at all time. For the "circulating" coin, I can not be so fair because you tell that you like high grade.... personally I don't collect about good or good but I think that it's not necessary to pay for high grade, if you like them go for it but I don't want to pay a coin 200$ when I can have I nice at 10$. When you are looking your coin so near to see the little minor scratch on it... To make a short story, I collect V.F. for older and more expensive and uncirculated from 60's to date. Anyway all the series of the same coin are the same, except for the date ! loll I collect for fun and not always for the value, it's sure that if a coin is more hard to find the value will probably increase. If you make that to make money, I'm not sure that it's a good idea... For me the best way to make money is to buy bullion when it's low... anyway it's just my idea ! I hope that you will make the right choice and start to collect soon :) Thanks ! |
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Valued Member
423 Posts |
Buy what you like and will enjoy looking at in years. If making money is not an objective (which is fine, you can collect something for enjoyment alone) - then see the first sentence. If you like wildlife then collect wildlife coins. If you like history then collect history coins. If you like botany then collect botany coins. If you like a certain artist then collect their work. Keeping up with inflation is another matter, if that is your goal collector coins might not be wisest move. It sounds like you like the artwork? Collect the artwork you will like to look at in 10 years and when you look at it - it should still look great to your eyes. Trade or sell the coins that don't hold their appeal to you over time. I think the RCM puts out some of the best coins in the world. I have a friend who brought pottery/glass for $200 for a little vase because they liked it and liked looking at it. He sold it recently for about 3x it's purchase price. I don't think he cared if he ever made a cent with it - it was enjoyable and he had extra cash. He enjoyed it for a number a years everyday and got an offer he couldn't refuse. Who knows what will happen or why. If you are collecting for enjoyment though, see the first sentence - it's all that matters then. Edited by realpenny
02/08/2011 03:18 am
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New Member
 Canada
21 Posts |
Thanks Yves and realpenny for the responses. Yeah I think I really want to collect the RCM or other good quality minters around the world with artwork/designs that I like. I guess I can try to minimize the initial loss of value from buying off ebay a couple months/years after RCM or other mints them? I have a very value ingrained mindset just because I've always been like that with my stock investments so I guess I may need to throw that out the window to openly enjoy coin collecting. realpenny : what in your opinion are other great minters in the world so I can check them out too :) I kind of like animals and neat designs - not really into people/history designs, but hey..maybe a minter can make me think twice :) |
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Valued Member
Canada
274 Posts |
Hi ! If you want to collect the RCM "commemorative" coin, buy them on ebay or at the right value cost from dealer or other collector. I think that it's not the good moment to buy because the gold are high, the silver too. Thanks ! |
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Valued Member
Canada
307 Posts |
a collection is whatever you want it to be .....some like decimal, some like buillion, some like notes and some love just mint sets....the important thing is that you collect what gives you enjoyment....if you happen to make some money doing it bonus if not so what the main thing is you enjoy what you do
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New Member
Canada
27 Posts |
Investments are all about buy low, sell high. Buy low in coin collecting is easy; collect something no-one else is. It's the sell high that's a problem. You're just as likely to buy low, sell lower. Pick something that interests you, first, though if increasing value is one of your choices, try to pick something that may be rare in the future.
If I were looking for value, I'd look at world coins from an unstable area like the Balkans or some parts of Africa. Unlikely to have much competition at this point, but if a country dissapears and you have a beautiful set of finite length, that could be interesting at least.
Me, I chose Japanese 50 yen. In my price range, and it interests me whether it goes up or down! (Still considering if I should go after the 50 yen paper money too, but that could be pricey.)
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Valued Member
Canada
311 Posts |
I do not know if anyone has passed this along to you, but if not, welcome to the forum.  A person can set a goal as to what they want to collect. They may start out with one goal in mind, lets say pennies, and then change the goal to something else later. Myself, I do not have a set goal as to saving one series or another, I like all sorts of things to collect that catch my sight and mind, or may be a good investment for later years for me or my offspring. So I am a jack of all trades, master of none. That is how I like my collecting. |
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Pillar of the Community
Canada
1051 Posts |
I agree, uncle al. I just collect whatever I like...why else collect as a hobby? Ken, here are some of my observtions, for what they are worth: if you find a mint product you can't live without, be patient. You can get them for 2/3 of the price in a couple years a lot of the time, after the initial depreciation.
Key dates are always good to have, so long as you genuinely want to own it (and aren't just thinking about the $).
Bullion is rarely a losing proposition in these financial times. Which brings me to...if possible, try and find bullion coins you enjoy that have attractive designs, and pay bullion prices, not mint prices. I bought a 3-coin 1989 set of proof gold/silver/platinum Maple leafs in a really nice wood box for just a hair over melt. It was not an investment, I just fell in love with the look of the frosted Maples. However, that is the way things go sometimes, just as pointed out with the vasr story above. In the few years I've owned the set, it's doubled in value.
Very, very few collectors make money with their collections short-term. Those that buy the best coins they can afford, carefully selected, may turn a reasonable profit over a number of years. IMO a collector has to be prepared to accept the value of their collection going to zero, or close to it. If that's not a risk a person is willing to take, there are any number of low, but safe, return investments out there.
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Pillar of the Community
United States
594 Posts |
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Pillar of the Community
Canada
617 Posts |
yup as KenRingold says the $20.00 silver coin is a great deal. $20.00 for $20.00 you cant beat that.
also: check out the post office, they discount coins 2years old and older. Some over looked coins are the colourized coins in the birthday wedding etc. sets.
the Thankyou 25cent is a nice little coin that you can pick up for $4.98 right now. And it will probably be cheaper later on in the year.
I only mention these because it sounded like what you were looking for.
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New Member
Canada
21 Posts |
Thanks for the tips, the bullion coins may be something i'd be interested in. It seems like its harder to find the bullion types that don't have a large markup, but thats understandable I guess. I purchased that 20$ coin on the first day that I started looking at RCM a couple days ago! It's exactly what I like... I went to a local coin store today and picked out a maple leaf silver coin but it seems like now that I have it at home it looks a little funny. There seems to be this moisturish mark on the lower bottom of the coin. Is that normal? This was from an authorized RCM dealer...Does anyone remember how much RCM were selling these for before? This was 43$ at the store. Just curious about what it initially sold for. Here are the pics: http://www.goutnation.com/wp-conten...oins-003.jpghttp://www.goutnation.com/wp-conten...oins-002.jpghttp://www.goutnation.com/wp-conten...oins-001.jpghope I didn't get jipped on my first purchase...the really newbie thing was...i didn't really have a good look at the coin before I bought it. I saw it in the case, and I picked it out and he went over to the cash register to do something while I went to look at other stuff. He seemed like a nice guy. I stopped by the |
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New Member
Canada
21 Posts |
Edited by Efstuck
02/08/2011 11:34 pm
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Valued Member
Canada
274 Posts |
Hi !
I have a question, for wich reason you tell that the silver 20$ are I great buy ?
It contain for under 10$ of silver at the moment. IN silver I don't think that the value go over 20$ a day...
The face value is 20$ and you pay them 20$ but how about to make money with them ?
It's minted at 200 000 I don't think that all will sell soon...
Thanks !
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Pillar of the Community
Canada
1554 Posts |
Hello Newbie and nice to have ya on board! The TWO best pieces of advice I can give ya is WAIT 2-3 years after the release of R.C.M. products before buying, you'll save 50-70 % off the original price. And once the novelty of R.C.M. products wears off and you decide to collect real coins (business strikes) stick to the years 1858-1967 and go after the KEY dates first in grades above AU-50. Those are primarily all 6 decimals Pre-1937 and a few odd pieces Post 1937. (eg.1947 dot nickel) Also don't worry about completing the six business strike series (1858-1967), trust me, it's a life time phenomena.  Glenn |
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Valued Member
Canada
94 Posts |
Quote:
Hello Newbie and nice to have ya on board! The TWO best pieces of advice I can give ya is WAIT 2-3 years after the release of R.C.M. products before buying, you'll save 50-70 % off the original price. I think this may have been implied but I just want to confirm. Bullion coins do not fall under this rule of thumb, correct? Due to the volatility of silver and gold the price of Silver maples (as an example) could either plummet or skyrocket within a few years depending on the price of silver. Just asking cause the 1oz Grizzly coin might be my next RCM purchase. :) |
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Replies: 24 / Views: 4,472 |
Posted 02/08/2011 03:15 am
