New collector looking for advice

General discussions on the canadian coins.
George Richard
Posts: 5
Joined: Sun Mar 20, 2016 3:13 pm

New collector looking for advice

Postby George Richard » Mon Mar 21, 2016 3:18 pm

I am working on 4 collections of Canadian coins (all except 50 cents) for my 4 grandkids. In hindsight I wish I would have opted for only one coin (say 25 cents). Up to now the collections include only circulated coins (I am avoiding buying for 4 sets). My questions:
What are the pros and cons of circulated versus uncirculated coin collections?
Should I join RCMS?
I see a variety of coin values in Charlton; Ebay; this site, etc. Which is the most reliable.
If I can afford the Annual uncirculated sets available thru Canada Post, is this a good buy.
How old should my grandchildren be when I transfer them responsibility for their respective collections.
Answers to the above together with any advice would be greatly appreciated.

Shylo
Posts: 180
Joined: Fri Apr 12, 2013 10:42 pm

Re: New collector looking for advice

Postby Shylo » Mon Mar 21, 2016 7:13 pm

Okay well I'll give my opinion:

What are the pros and cons of circulated versus uncirculated coin collections?


1) Cost
2) Eye appeal
3) Demand from others when you go to sell

I love 50 cent pieces... but I cannot afford to buy them in all in UNC condition. An 1870 no LCW is difficult for me to acquire in Fine condition let alone in MS!

But they do say buy the best that you can afford.

(This is my take on that.. if you think you're only going to have a collection for say 10 years you should buy buying the best ... for when you sell I believe there will still be enough serious collectors out there that there could be bidding wars when the items do go to auction. I however am pretty young and I don't think the hobby will be as "healthy" by the time I'm in my 70's and 80's ... so the way I collect is for myself knowing I probably will never even make my money back when it comes time for me to sell, so my budget is low and I just buy examples that are nice but certainly nothing outstanding)

I see a variety of coin values in Charlton; Ebay; this site, etc. Which is the most reliable.


Ebay would be the most reliable if you're looking at final sale prices.... NOT what some people have their items listed for! I can list a pencil for 1 million dollars... doesn't mean it's worth it or that I would ever get a buyer.

Ebay is a true market... and I would use that as a decent gauge for what the market is doing.... you can't sell a coin to a book, or newspaper.. it has to be to a person who has cash in their pocket...

How old should my grandchildren be when I transfer them responsibility for their respective collections.


That's all up to you.. personally unless a specific family member expresses interest in coin collecting prior to my big long dirt nap... I have absolutely no intentions on just handing over my collection to someone... I just don't think they'd appreciate it like I do.. and they would probably be better served just getting the money from the collection. I know the best methods of liquidating my collection.. and I have those details already set out in my will. I know I have certain friends who want some of my coins... after that I have a detailed list of which coins I have and the best avenue of getting them in the hands of collectors. I have in the past bought up estate collections... and nothing gets uglier than when one family member just wants it gone... and would take just about any price for a collection.

That is my opinion for those questions you put forth....

Good luck and hope you enjoy the hobby!

George Richard
Posts: 5
Joined: Sun Mar 20, 2016 3:13 pm

Re: New collector looking for advice

Postby George Richard » Mon Mar 21, 2016 7:49 pm

Thank U Shylo

henrysmedford
Posts: 104
Joined: Sat Jun 29, 2013 10:44 am
Location: Oregon

Re: New collector looking for advice

Postby henrysmedford » Mon Mar 21, 2016 10:01 pm

Are you filling folder our albums. From you post you must be doing 1,5,10,25 cent coins. How far back are you going?

George Richard
Posts: 5
Joined: Sun Mar 20, 2016 3:13 pm

Re: New collector looking for advice

Postby George Richard » Tue Mar 22, 2016 12:22 pm

I am collecting cents, nickels, dimes, quarters, Loonies, and Toonies. I initially tried the blue books but quickly gave up on them because they did not accommodate the varieties. I now use the appropriate plastic sheets for each coin. I have gone back as far as I can by purchasing rolls from bank branches from which I cherrypick for missing coins. It is my hope that collecting coins can be educational for my grandchildren. Through the use of Charlton books, I have personally found the coin collecting experience very informative.

henrysmedford
Posts: 104
Joined: Sat Jun 29, 2013 10:44 am
Location: Oregon

Re: New collector looking for advice

Postby henrysmedford » Tue Mar 22, 2016 6:20 pm

George Richard wrote:I am collecting cents, nickels, dimes, quarters, Loonies, and Toonies. I initially tried the blue books but quickly gave up on them because they did not accommodate the varieties. I now use the appropriate plastic sheets for each coin. I have gone back as far as I can by purchasing rolls from bank branches from which I cherrypick for missing coins. It is my hope that collecting coins can be educational for my grandchildren. Through the use of Charlton books, I have personally found the coin collecting experience very informative.


I think that all Canadian coins will be worth more as that the Canadian government is melting down all non steel coins. http://www.insideminting.mint.ca/en/business/reclaiming-the-pennys-value/ So nickel coins are getting harder to find. Also it is almost impossible to find pre-1968 10,25 cent coins in change as they are mostly silver. If you want to post a list of what you are missing I could look at what extras I have and would be happy to help out. Also Lighthouse makes albums that includes varieties. I am down here in the states and coin shops sell for less than face on non silver Canadian coins.

George Richard
Posts: 5
Joined: Sun Mar 20, 2016 3:13 pm

Re: New collector looking for advice

Postby George Richard » Tue Mar 29, 2016 3:27 pm

Henry ... Excuse delay in replying ... taking inventory is time-consuming. Here is a quick list.
Pennies: 2009 & 2007 Zinc (missing for all four grandkids); 1965 Large Beads Blunt 5, missing 2; 1955 & 1954 (have a few but cannot determine if shoulder fold or no shoulder fold, large or small denticles; 1950 1949 1948 (have a few but need to do some work on identifying varieties; 1938 and older (missing for all 4)
Nickels: 1991 (missing 3); 1970 (missing 3); 1967 (missing 3); 1965 (have some but have to do work to identify small or large beads; 1959 and older (have one only for almost all years); Dimes: 1991 (missing 2); 1980 Narrow 0 (missing 4); 1971 (missing 2); 1970 (missing 4); 1968 Philadelphia mint (missing 2); 1968 & older (missing all); Quarters: 2001 Nickel (missing 1); 1990 (missing 1); 1983 (missing 3); 1978 Large & Small denticles (missing 1 of each); 1973 Large & Small bust (have a bunch but presume all small bust); 1968 & older (have only 1 for most years); 1 and 2 dollar coins (fairly complete). Thank U for offering help. For years for which I do not need any, I have some extras which I can offer to help you complete your collection.

henrysmedford
Posts: 104
Joined: Sat Jun 29, 2013 10:44 am
Location: Oregon

Re: New collector looking for advice

Postby henrysmedford » Sun Apr 03, 2016 9:38 am

George Richard wrote:Henry ... Excuse delay in replying ... taking inventory is time-consuming. Here is a quick list.
Pennies: 2009 & 2007 Zinc (missing for all four grandkids); 1965 Large Beads Blunt 5, missing 2; 1955 & 1954 (have a few but cannot determine if shoulder fold or no shoulder fold, large or small denticles; 1950 1949 1948 (have a few but need to do some work on identifying varieties; 1938 and older (missing for all 4)
Nickels: 1991 (missing 3); 1970 (missing 3); 1967 (missing 3); 1965 (have some but have to do work to identify small or large beads; 1959 and older (have one only for almost all years); Dimes: 1991 (missing 2); 1980 Narrow 0 (missing 4); 1971 (missing 2); 1970 (missing 4); 1968 Philadelphia mint (missing 2); 1968 & older (missing all); Quarters: 2001 Nickel (missing 1); 1990 (missing 1); 1983 (missing 3); 1978 Large & Small denticles (missing 1 of each); 1973 Large & Small bust (have a bunch but presume all small bust); 1968 & older (have only 1 for most years); 1 and 2 dollar coins (fairly complete). Thank U for offering help. For years for which I do not need any, I have some extras which I can offer to help you complete your collection.


I can help with quite a few. Check your messages in the messages part of this site and answer were you want them sent to.

George Richard
Posts: 5
Joined: Sun Mar 20, 2016 3:13 pm

Re: New collector looking for advice

Postby George Richard » Tue Apr 19, 2016 3:07 pm

Precious cargo received with heartfelt thanks (from me and grandchildren) ... I must insist on remuneration of some sort as there is no way I could have found these in circulating coins. Can I procure something for you in Canada?

henrysmedford
Posts: 104
Joined: Sat Jun 29, 2013 10:44 am
Location: Oregon

Re: New collector looking for advice

Postby henrysmedford » Tue Apr 19, 2016 9:34 pm

George Richard wrote:Precious cargo received with heartfelt thanks (from me and grandchildren) ... I must insist on remuneration of some sort as there is no way I could have found these in circulating coins. Can I procure something for you in Canada?


Glad to help out. Already getting replacements for less than face. The coin shop sells Canadian coins at a .8 of face for US$. No need for repayment. Got $20 0f Canadian one and five coins today and most were pre 1968 some were like new.

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