Hello everyone, I have been collecting ancient coins for about 10 years and some world coins for the last 3. I recently picked up a few small (1/10 oz) gold bullion coins - Maple Leafs and Kangaroos. The RCM has some really nice looking gold coins which seem to be aimed at collectors instead of bullion buyers because of the large premiums over spot. One I recently looked at was the 1/10 oz 100th anniversary of Canada's coat of arms - a beautiful coin but retails at $500 CDN which is basically double spot. There are also some Alex Colville commemoratives that are really nice. I realize there is a premium over spot for collector coins but in people's experience do these collector premiums hold up over time? It seems like a really large premium and I wonder if there is enough market for these to maintain that. I can say that the RCM gold coins seem to sell out very quickly so there must be some interest. Comments on how the value of these types of coins (ignoring bullion value) have held up over time would be much appreciated! Thanks
Canada is a bit of a weird market that can be a lot harder to recover premiums than some other countries. They put out a lot of stuff, a lot of it is very nice, but it's a lot. In general they put out more loser than winners in terms of premiums without significant spot changes. I would avoid buying directly from their mint and give things a year or two on the after market (where most things will be readily available) and let that sort out the price more. By that point you can feel a lot more comfortable about the price setting more to where the market wants it to be
Agreed with above - the RCM is a Crown CORPORATION - they need to make a profit. If you are buying products at or near spot, I have no reservation - the purity, packaging and designs are great. DO NOT pay large premiums over spot for RCM products - it will take decades to recoup the extra, and even then, no guarantee. This being said, there are some products that were so perfectly engineered / executed, that they are sure to be / have become collector favourites. Do yourself a favour and buy a Charleton catalogue before getting deep into these issues - they state both the issue price, as well as inflated market value for modern pieces, and this is an invaluable resource.
I agree completely. Although there's an occasional winner issued by the RCM, most are only winners to Canadians as they are the ones who are passionate about their Canadian coins. I have some Canadian beauties, but only Silver coins, no gold!
That really doesn't make sense. Things either go up or down in the market, the winners when they happen are up in the US as well
No, what I meant is just because a gold coin isn't profitable money wise, if it's Canadian gold and you're Canadian, you probably still feel like a winner!
Most moderns you will lose long term buying from the mint. Buy aftermarket after they are a few years old. Also, premium on tiny gold always high. Lots of costs to recover on a per ounce basis and lots of people want to buy gold but cannot afford ounces. Best bet for gold? One ounce pieces purchased in the secondary market usually if you are worried about cost per ounce. Personally, lately I have been stupid and have gotten a little hooked on 8 escudo pieces. Cool large coins.
I have Canadian heritage and remember spending summers there. So I buy some RCM coins here and there because they have meaning to me (and of course are PM). Lately it seems their premiums have gone crazy and I have not bought any silver coin in about two years. I mean I was willing to spend a hefty premium before for a coin that meant something to me ...but not a CRAZY markup that I have been seeing as of late. Recently I wanted to buy a 1/2 Gold Maple Leaf, maybe even a 1/4 oz, but it is really difficult to locate 1/2 oz Gold Maples right now.
