Coin Collecting Advice – Why You Should Collect Canadian Coins
The Royal Canadian Mint has over the course of its history produced some of the most unique and rare coins to be found anywhere.
What makes Canadian coin collecting even more interesting is the fact that it has sometimes proven a reliable investment as far as other coins are concerned.
The value of a coin is usually influenced by different factors including supply and demand, the current state of the coins, mintage, dates and rarity. Most seasoned collectors seek to find coins that can increase in value over time and which are most sought after by other collectors.
Canadian Coin Denominations – The Decimal Coins
No matter what kind of collector you are, you can find all kinds of coins.. For people in the US, getting access to Canadian coins can be a lot easier because of the millions of Americans who travel back and forth across the Canadian border every year. However, let it be noted that most Canadian coins obtained by our neighbour south of the border were obtained via eBay.
The coins minted in Canada come in several denominations including 1 cent, 5 cent, 10 cent, 25 cent and 50 cent. You also get the 1 dollar and 2 dollar coins. Canadian coins come with some amazing depictions. Note that the RCM ensures designs embrace Canadian culture, nature and historical figures.
Being part of the Commonwealth, many Canadian coins honour royals and one of the more prominent figures depicted is Queen Elizabeth II whose Elizabeth Silver dollar remains very popular, fetching anywhere in the region of $2500 upwards.
Some of the most popular Canadian coins
When it comes time to decide which coins you should collect, the sky’s the limit. Aside from the regular Canadian decimal coins, you’ll have quite the selection. Keep in mind the RCM releases coins intended for the collector and dealer. Some of the most valued coins include the Rare Canadian Victorian Quarters particularly the rare 25 cent coin ones which tend to be more valuable than the Edwardian coins.
Other rare coins include the 1921 50 Cent piece, the 1937 Canadian 25 Cent, the 1973 25 Cent large bust, not to mention the 1991 25 cent, due to its very low mintage of about 459,000 as compared to about 32,000,000 minted in the previous year.
The 2007-2010 Olympic Quarters which were minted to commemorate the 2010 Olympic Games are also popular. Bi-Centennial coins and war-time coins are also some of the most sought after Canadian coins.
Places where you can purchase Canadian coins
You can find Canadian coins from coin dealers on internet sites and at coin dealerships. Some dealers specialize exclusively in Canadian coins and have large collections with many varieties to choose from. You can even buy some coins directly from the Royal Canadian Mint which offers collectors different types of sets and packages. Whatever your preference, Canadian coins still remain some of the best you can acquire for your collection.
Why Canadian Coin Collecting is Rewarding
Given Canada’s relatively short age (Canada became Canada in 1867), Canadian coins are amongst the top tradable coins in the world. This is undoubtedly, a big reason to make Canadian coin collecting a popular hobby over the years. This is despite other trends such as no longer the need to pay for everything with cash. With the lack of some walk-in resource for new collectors, the hobby may suffer a setback.
This only means meaning that meeting other collectors may prove challenging in some places. Over the past years, these coins have gained an outstanding reputation due to their exceptional purity and exquisite design. Therefore the coins make an excellent choice not only for coin collectors, but also for investors.
Canadian coin collecting may be considered as a safe investment because Canadian coins don’t usually lose their value. Now, of course, I’m not saying anybody’s getting rich selling the collection right now.
However, it’s of great importance for one to acquire the coins because of the rapid depreciation of the paper money. The coins have gained much popularity and showed a significant increase in the public market worldwide. These coins have gained more value over banknotes in the trading markets. This is primarily due to the value of the “paper money” tending to deflate as much as 25% to 30% in short periods of time.
Canadian coin collecting may be considered a good investment and has recently enjoyed widespread attention in the numismatic community.
What are some advantages of Canadian coin collecting?
- Canadian coin collecting can be very rewarding, both emotionally, and financially;
- While the RCM continues to deliver new designs, circulation strikes, and collecter editions, there are enough variety in Canadian circulation coins to keep you busy for years to come.
- Access to the open market for you to resell your coins at a reasonable value, seeing most coins you’ll collect are legal tender (perhaps except some from the RCM).
- Some rare coins gain value in time, so if you hold on to your coin collection long enough, you may get more than just face value.
- Given current exchange rates, any US-based collectors will appreciate the lower cost Canadian coins available through the usual channels such as eBay, and other coin specialized websites like colonialacres.ca.
Thanks for reading! Be sure to start collecting Canadian coins now with passion and enjoy coins as part of your lifestyle.