Coinsandcanada.com

1. Do the posted values under MS-63 to MS-65 mean that most circulated coins are inferior to MS-63?
2. On page 233 there is a line for a 1998W (N.I.I.) two dollar coin. One of these popped up in loose change. What do people do with such coins?

Yes, most circulated coins are in the 60-61 range. The higher the number the fewer dings & more luster.

Thank you Bill. Second question unanswered ... did I word my question inappropriately? What I want to know is should I put this in one of my 4 grandchildren's collection?

All toonies are quite common, except for a very few special varieties. What does your coin look like? A 63 coin is relatively ding/scratch free and must be uncirculated and showing absolutely no wear or lack of luster. If you got the coin out of change, then it isn't uncirculated and can get NO 60+ grade. By the time that your grandchildren are teenagers, they will still be common. I have no idea what is on p233 or what you are referring to.

Bill
I think the OP is referring to the Polar Bear Toonie W mm that was put in the Brilliant Uncirculated Sets
in 1998 and 2000. It seems that someone has broken open one of the sets and circulated the Toonie.

Thank you Bill and Coinguy. I have 4 grandchildren aged 15 to 21 and I have been building a coin collection for each of them from circulating coins. For the past 6 years I have purchased the coin sets issued by the mint. I occasionally buy a Charlton catalog to keep informed and I occasionally check into this forum. Assuming that Coinguy is correct, I would like to know if N.I.I. coins such as the 1998W toonie should or should not be part of the collections that I am maintaining. I have just turned 80 and plan on turning over the collections to each grandchild. Any Advice?

That is up to you George. I’m not sure what type of sets you are putting together.
This Toonie was not released as a business strike and usually the only way to obtain it is to buy the set.
I would still keep it though but if you want all the sets the same, you might not be able to obtain 3 more
without paying a premium.

Bill and Coinguy: From many of the posts on this forum, it is obvious that coin collecting should be seriously thought about before plunging into it feet first rather than head first! I am one of the feet first group and while I have had much satisfaction in building up the four collections, I would certainly have benefitted from a tutorial from the two of you before starting. If I interpret you correctly, collections of circulated coins are not likely to increase beyond their face value. That being said, if none of my grandchildren show any real interest, i.e., willingness to invest in uncirculated coins, it does not make much sense to continue collecting circulated coins. That is the sort of general advice that I would like from either or both of you. The Canadian Royal Mint decision to mint an ''endless'' variety of coins has put a damper on visions I may have entertained re my grandchildren benefitting from coin collecting. But I will continue tuning in to this form nevertheless because of the frankness of advice from both of you. Thank you.

If the idea is for them to increase in value rather than historical significance, then uncirc coins may be the way to go. The problem is that the mint churns out circulating coinage by the multimillions and multimillion mintages carry little or no premium for decades. I prefer the historical portion of the hobby and most people, after exiting their teenage times, thinking of years in the past will lean that way. If I were looking to assemble something for them, I get get coins of different denominations that came at important times in history, like 1901, 1902, 1910, 1911, 1920, 1936, 1937, 1952, 1953 where there was a monarch change. I would also pick up examples of coin alloy changes from WWII because certain metals were needed for the war effort and design changes.

I'd do the same for some common 1,2, 5 and 10 dollar bills, again with the monarch or design changes, but essentially still common. The you can get the first/last dates for alloy changes from silver to steel/nickel, etc, as well as the first loonies and toonies, with maybe some loonie changes as they came about, including the Olympics. The RCM puts out so much crap, it's dangerous to even contemplate items that they rolled out, but you should try to get a set of the quarter changing that they did for the Provinces, etc. IF you are going to purchase RCM items, buy them on the secondary market rather than from the mint or the few years after. If you wait 3-4 years, you can buy mint items for 50-60% or so from the issue price

It's you life, your time and/or money to be either wasted or cherished as you think about things that the kids may look at with pride in their minds and great memories of you alongside it all.

Thank you again Bill. I am going to have a meeting with the 4 grandchildren and their parents. Hopefully we can agree on a revised collection strategy. I will let you know.