Hi All, This question I have been meaning to ask so I may get some expert opinions. With all the talk of Canada discontinuing their penny and rumors of other countries following suit, is it worth collecting say the original coin currency and/or like the Euro coins of countries now before this coin mint stoppage takes effect worldwide? Example would be like Italy Coins prior to changing to the Euro currency. Thank you.
When you say "is it worth it," do you mean as far as making a profit? So in other words, are you asking if these coins are going to jump in value because they are no longer being used? If that's the question, then no. Most are common as dirt and always will be. If you are collecting them because it brings you enjoyment, then yes, it is worth it. That's why I do it. If any of them end up being worth money some day, that's just a bonus for me.
Hi Hiddendragon, I do enjoy collecting them and yes would they be worth money some day? I figure the countries for example that have gone over to the Euro and dont print thier own currency any longer those coins I would expect to be worth money.
It doesn't really work that way... value for all intents and purposes, is based on rarity. If a discontinued coin had a run of 60,000,000 minted then even after the day they stop being legal tender there's still a 60,000,000 of them potentially out there somewhere!
If you are thinking about collecting foreign stick to coins older than 1900, that way they will have a rarity value. There are plenty about if you look, cheep as well, start with foreign cents.
The problem is that every coin dealer in the world has a junk bin full of modern world coins that they sell for 25 cents apiece or less and that basically almost no one wants. You can also go on eBay and see lot after lot of the same coins sold in bulk for a few bucks. So even if all the non-collecting public turned in their coins and they were melted, there are still more out there than anyone wants.
I agree with Aslanmia rarity is the key, although if enough people collect a certain coin it becomes scarce in the market and the price may rise greatly. The trouble with these collectible coins is that upon reaching a certain price they are sold all at the same time, flooding the market and reducing the raised value. Rarity escapes this process.
Could be, but it may also work the other way round. People who collect coins from, say, Europe in the 16th to 18th centuries will still continue to do so. Collectors who are focusing on more modern coins, and get at least of their collection from circulation, may decide to not pay much attention to the pre-euro issues any more ... Christian
World Silver coins can be wroth the time+$ you spend. I try to buy only Silver World coins but some Clad + copper date a High dollar coins in MS grades.here 1 in VF-30 is still worth $75.00 to the right buyer
I have never been a big fan of US coins. Market worth aside...foreign coins are a GREAT, vast and eclectic world.
I like U.S. coins, but they are just too expensive. If you have a limited budget but still enjoy collecting, you get so much more for your buck with world coins. The vast majority of U.S. coin collectors are mostly or only interested in U.S. coins, so you have to compete against them for everything you buy. That drives up prices across the board. World coin collectors are thinner on the ground and that means there are still a lot of bargains out there. For example, a U.S. coin from the 1700s may be way outside your price range, but you can get a Russian, British, German, French or Spanish coin from that era for a few dollars.
