Someone who is a specialist in canadian coins please read and give insight

I have been a buyer or gold and silver for a long time, mostly bars and lowere grade silver coins.

On this recent downtrun in Silver I found a gentleman in my are who was looking to dump some silver, at prices so far below market I was expecting black holed candadian dimes

to my surprise he had a fe uhaul boxes of silver mostly forerign, mostly canadian

I bought the small "hoard" of silver

There were gallon bags of ugly grey toned 1940's-1960's canadian 10c, 25c, 50c and dollars, kind of what i expected

what i didnt expect was shoeboxes full of 1950's and 1960's canadian proof sets most were 61-67 in cellophane in a yellow envelope

a few were 1953-1960 proof sets all with major toning in these white carboard sleeves wrapped in cellophane

i looked on ebay the mintages for some of the 1950's ones were 1k, 3k, 9k, basically nothing the early 60s cellophane ones were 60-90k

why are they so cheap?
u got more than an ounce of silver 1.11 if my calc's are correct. at the price i bought im just holding it, but it just dosnt seem like ther is enough of a premium on them for there rarity
any opinions?
thanks
qsilver007

 

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*waits for pawn stars reference*

 

new hear i dont get what pawn stars has to do with it

im a newbie tot he cointalk sight so forgive i have no idea what that means

do you know about canadian coins?

 

I don't really know what your question is.

A 1954 set sold for $457.
A 1956 sold for $260.

How much more of a "premium" do you need?

 

thats good nes was just lookking for values for the proof sets, ive done some google searching and the 1954 has a mintage of 1200, the 53,54 and 55 are all less than 10k, im happy with those premiums, but i was just asking why the premiums are so small compared to us coins. not a us coin specialist, but the 1945 has a mintage of around 8k i believe, and its like a 5000 dollar set, just seems the canadian ones are very inxpensive for there mintages. but i guess i have a biased view as I have bixes of them now. the early 60's ones i looked on ebay barely trade for more than melt so i think i will just jeep em.. But i do appreciate your price imput on the 54 and 56 as I had not seen a price on those
thanks
qsilver

 

Because US coins are in higher demand, and arguably one the most popular coinage.

 

That is the right answer. Even if mintage is low, value will be based on demand. There are far fewer collectors of Canadian coinage than collectors of US coins. TC

 

thanks for all the feedback

I trade stuff by nature so genrally i try to look of undervalued stuff with low mintage and hope over time it catches up.
my thought is, as america haas been the place for the oast 100 plus years its seems at least big picture its staring to not be so as much
canada money used to be a joke when i was a kid
use to be able to get rolls of quarters with at least 10 or 20 of them being silver even in the 70's since there money was so much less than our on an exchange rate basis
rcm making some new decnt products and now that there money has more or less been on par or great than the USD, maybe canadian will catch a big bid too
just wishful thinking perhaps, but this hoard was too good to pass up on so im contet anyway

AGAIN THANKS TO ALL THOSE WHO RESPONDED...................................Q

 

There's just a smaller market. And I don't see any reason why that would change.

But it sounds like you got a good deal.

If it were me, I would flip them.

 

If it were me, I'd hold 'em. Ask me why? I can't say......just something i feel in my bones.

 

A population of 10k isn't rare....if you can find multiple listings on any given day on eBay for any item it isn't rare...I have sports cards with populations of 500 that are in high demand and can find those cards every time I look on eBay. For some strange reason coin collectors have a very distorted perception of rarity and think modern coins with 100k populations are rare, I think it has to do with how slow moving the hobby is and they are desperate for the latest and greatest.

 

I actually just got rid of about 200oz of Canadian Silver and had a hard time doing it. People just didn't want to buy it. They would have a hard time selling it to smelters!! I still have a ton of Canadian proof sets from the 50's and 60's. I found one guy in MI who bought and sold Canadian coinage and he offered me $3 a piece for the proof sets. He said there's no market for it. And even the Silver I had was selling for a lower premium than US coins. This was all Silver and such that my Great-Grandmother had from 50, 60 years ago. I was looking to move it to be able to buy US silver, bc it's a better investment. IMO

-Cheeks

 

$3 a piece over spot for the sets is not a bad price, i would of taken that.

 

Thanks again for all the imput, like I said people tend to go with the herd in trading and in coins, Im half chinese, so I have been fortunate to have been given older and newer chinese coins over the years when I was a little kid. In the late 70's, early 80's my granpaerent/gran aunts and uncles would give me old "fatman dollars" and "junk dollars" brought over from mainland china, you could not give away pandas or chinese gold "year of coins", we all know that has changed I think I will just hold it as an invesment. And Im not sure if I read one of the previous posts correctly, but if you are selling pre 1962 canadian proof sets at less than spot please email me Id be very interested................thanks again for all your time.....................qs