Hi Ok, there was this coin a while ago in which I wanted to buy, but it sold out at $45 from the Canadian Mint. So I started to look for it again and found it, but now they are over $200. and this was a 2006 coin. I found another coin I wanted from the Canadian Mint, and its over $250 from the Mint (and mintage less then 10 000). I wanted to know, do most of the coins appreciate and go up from the mint, or do some go down. I like this coin, but I dont want to make the mistake of missing out on it, and then I have people telling me its a waste of money and probably wont go up. Appreciate your opinions! p.s, ordered some books and should be on the way.(for previous thread)
If you don't buy it, it goes up, and fast. If you do buy one, it stays even. If you buy a lot, it goes down. (At least it seems that way):headbang:
That's an awful appreciation in price - maybe it's because a lot of the coins are now in the hands of a profiteering company and they can now charge you whatever they darn like?
You'll never know. This is one example that I really wanted to buy straight from the Japanese Mint. When it was first released, it was said that the price tag was around 50USD and that got sold out fast. Somehow a dumb seller didn't know it's full value or remembered it's issue price and sold me at around 15USD (fifty and fifteen does sound alike doesnt it?) Now the value has blown over the 600USD mark. Appearently the JNDA 07 catalogue puts a value of over 800USD but is excessively mad. Geez, and that's with a mintage of 50,000.
buying from the mint Howdy, Over the long run, most coins purchased from the mint appreciate in value. In the short run, some do and some don't. For those that do, 3x is about the tops - again, normally. There are exceptions such as the 2006 Silver Eagle Anniversary set which peaked around 6x and is now running around 5-5.5x. Which coin will appreciate greatly and which will not is an incredibly hard thing to predict. Occasionally, there are items which you feel strongly will, and often they do - but sometimes not. For example, the Marine Corps silver dollar was a sure bet because we were at war. Ben Franklin seemed good and was, but he's always been popular. The buffalo silver dollars were a sure bet, but I thought the buffalo gold proofs would be and they were not. It's very hard to predict. I'm not familiar with Canada, but the US Mint has a subscription service where you can sign up ahead of time to insure you'll get your coin(s). In the states, we can pick and choose, but again, I'm not sure about Canada. I do know they mint a LOT of stuff, so buying one of everything is not an option. good luck, rono
thanks everyone, I appreciate your answers. Ill have to decide if I really want to buy it or not now. I agree with this!!! "If you don't buy it, it goes up, and fast. If you do buy one, it stays even. If you buy a lot, it goes down. (At least it seems that way):headbang:" SCNuss
I know it probably sounds cliche by now, but buy what you like. A nice side effect is that other people will like it too (unless you have really weird taste) and it will appreciate. Even if it doesn't, you have something you think is cool. I bought a proof and unc of the silver buffalo in 2001 before I had any clue about coin collecting - I just thought they were the most beautiful coins I had ever seen. I honestly had no clue that you could buy coins at retail from the Mint and potentially sell them for more a few years later. They have gone up considerably, but I wouldn't sell mine for $500 a piece - I just love to look at them. That's what you call having your cake and eating too. My 2 cents, Wally
Isn't that known as Murphy's Law? Anyone can say a coin price goes up, down or stays even. But here is a test. Try to sell any coin for what you think it's worth. Many people find they have a coin they thought was worth a lot only to find when trying to sell it, no where near what they expected. Some buy coins for small amounts and sell for much larger amounts on places like ebay. Others are the ones that bought the inflated priced coins so now have a coin that they in turn could not sell for what they paid. If you are purchasing a coin and worry about it's true value, spend a little time trying to find what others are sell them for. I guess that is one of the nice things about ebay. You can usually sell anything there.
Actually I went on to ebay and to see if the new coin was on it. there were 3 auctions 1 is same price as coin at mint another is $50 more then price at the mint and the other auction is $100 more then the mint sells it.
