I am considering collecting coins from the various pre-Euro currencies. I am starting with France, as I already have a few coins in various denominations and I love the designs. I can also get them fairly cheaply at this point in time.
But I'm also wondering whether the values of these coins (bearing in mind I'll be buying in the highest grades I can afford) are likely to increase much as the currencies are exchanged for their Euro counterparts. In other words, I'll be collecting the coins simply because I like them, but it'd be nice to think they'll one day be worth more than I paid for them and that possibly, some way down the line, some descendant of mine might treasure Great-great-great grand-uncle LurkingSquid's collection of antique European coins and think of their ancestor as somewhat of a man of taste and insight. Vanity on my part, to be sure, but it'd be nice to think I'd be remembered that way, and I certainly have no spooky castle in the Balkans to hand them down.
What do my fellow numismatists think?
In the crushing darkness of the ocean deeps, the Lurking Squid sits atop his burgeoning hoard of silver coins...
Seeing how much interest my kids show for my late father's extensive stamp collection, I'm pretty sceptic about anything palpable left to the future generations. They live fast and have no interest in dust collecting artefacts.
Those coins can be had by the kilogram. certain key dates notwithstanding, the majority of such coins will never be much more than their metal value.
Furthermore, coins do not become more scarce over time - they never get "used up". Instead more and more sacks are dumped out into the market over time as the hordes of older persons are liquidated, so that in fact the value or common coins declines as the supply will eventually exceed the demand from collectors.
Jamais l'or n'a perdu la plus petite occasion de se montrer stupide. -Balzac
Mr. Midnight, I hadn't considered the "liquidation of hordes" aspect, however I thought there would be some impact from pre-Euro currency being turned in to exchange for Euros - presumably the old currency is recycled, however.
Regardless, I guess I'll just keep collecting it because I like it.
In the crushing darkness of the ocean deeps, the Lurking Squid sits atop his burgeoning hoard of silver coins...
Long-term collecting is a hobby, rarely an investment. A productive investment pays interest, dividends or rents. Coins don't do that.
And if you want to make money buying and selling coins, you need higher value coins and probably also rip off ignorant people. No, collecting is much more fun. Enjoy it!
True, true. It's a hobby. Knowing me, if it became a business too, I'd enjoy it less (though the idea of one day having a small coin shop as a semi-retirement activity appeals). That said, I'm not adverse to selling a coin or two so I can afford my next big acquisition, ie hopefully having my hobby pay for itself to a degree.
In the crushing darkness of the ocean deeps, the Lurking Squid sits atop his burgeoning hoard of silver coins...
The amount of coins coming from hoards is so stunning that it kills value quite easily indeed. Many people may exchange their pre euro banknotes, but they may not do the hassle with coins. For me it's part of the hobby that I send my foreign coins with exchange value to Leftovercurrency.com. I have sent there countless kilos of coins during the years, but I don't think it has much effect on market values. There are relatively low amount of (new) pre euro collectors which may buy common dates.
buenas tardes señores personalmente considero que las antiguas monedas europeas , mas que valor económico tendrán a futuro mayor valor sentimental , recuerdos de una época llena de nacionalidades , escudos e idiomas , aun asi las de algunos países si son escasas tipo finlandia , luxemburgo,malta y chipre , yo de todas maneras sigo acumulando para tener disponibles para las futuras generaciones de coleccionistas .
I think that all pre-euro coins are incredibly plentiful. I would personally view them being melted as something to increase diversity in bulk lots, not necessarily increasing their value. In addition to this, many pre-euro currencies can no longer be exchanged, such as the French Franc, which makes up large parts of many bulk lots.
Quote: "Mr. Midnight"Those coins can be had by the kilogram. certain key dates notwithstanding, the majority of such coins will never be much more than their metal value.
Furthermore, coins do not become more scarce over time - they never get "used up". Instead more and more sacks are dumped out into the market over time as the hordes of older persons are liquidated, so that in fact the value or common coins declines as the supply will eventually exceed the demand from collectors.
I agree with "Mr. Midnight's" observation. His bolded phrase tells it all: only key dates will carry collector interest moving forward. It would be beneficial to learn about what to collect. I always thought that these forums could help with that discussion.
It is wonderful that there are collectors out there who just collect & get pleasure from collecting anything. But too often it is just plain hoarding. There's nothing wrong with saving bulk coins (dealers love these guys) but it does take up space (& hopefully you're not spending too much doing it). Only a tiny fraction of the coins might be somewhat uncommon & sold (for any premium) by whomever gets this hoard (unless they've been spent by the collector him/herself). There's nothing wrong with it so long as whoever is living with you is okay with it too (& you have the space, methods to preserve the coins so they don't deteriorate).
But to develop focus & scope, to learn what to collect (be it either condition rarity or specific key dates, specific denominations). I believe shifting focus on quality over quantity can be truly rewarding. It might mean you are willing to give up this __X__ coin for that __y___ coin because __y__ coin completes (or helps complete) a specific set. That, in my mind, is a much more rewarding experience. I think that's what the more seasoned collectors have in mind when they join this site to swap (not just swap for the sake of swapping).
Sad but true, coins with precious metal, will always have a bit of value, but European coins of the Late Mid 20th century and Late 20th century were made out of base metals that have little value.
Copper is $7k a tonne, meaning $7 a kg and about 7 cents for a 10 gram coin, Steel, brass and aluminium are worth less. Many coins were made out of these metals, even the high face value coins of the 1980s and 1990s are basically worthless due to demonitisation, like the Belgian 50 France, made out of almost plastic looking metal, Dutch 5 guilder coins - German 5 Marks, French 10 and 20 Francs - all muck metal sadly.
I love coins. Especially silver, gold and anything really old.
Member of the Royal Numismatic Society of New Zealand and the Auckland Numismatic Society
Quote: "Trp"The amount of coins coming from hoards is so stunning that it kills value quite easily indeed. Many people may exchange their pre euro banknotes, but they may not do the hassle with coins. For me it's part of the hobby that I send my foreign coins with exchange value to Leftovercurrency.com. I have sent there countless kilos of coins during the years, but I don't think it has much effect on market values. There are relatively low amount of (new) pre euro collectors which may buy common dates.
Omg..don't do it again please, i'll buy from you at a higher price than they give you, they give like 5-10% of the value...
Can you tellme please what you sent them?
Quote: "Moneytane"like the Belgian 50 France, made out of almost plastic looking metal, Dutch 5 guilder coins - German 5 Marks, French 10 and 20 Francs - all muck metal sadly.
That almost plastic looking metal is pure nickel and it's worth 3 times more than copper.
But of course you're right. The French 10 francs, with a face value of around 1.5 € before demonetization, is now sold in bargain bins for 0.10 € as much as you want. You can even found the Dutch 5 guilder, with a face value of around 2.25 € before demonetization, in those bins but in much smaller amounts.
And even these prices are too high because hardly anyone buys them for that price.
-Spanish pesetas
-British pounds
-pre-euro coins from Baltic countries
-US dollars
-Canadian dollars
-Australian dollars
All has been very basic coins, nothing really valuable. They don't pay the best price, but you don't have to send coins with copy of passport to different places.
Quote: "Moneytane"like the Belgian 50 France, made out of almost plastic looking metal, Dutch 5 guilder coins - German 5 Marks, French 10 and 20 Francs - all muck metal sadly.
That almost plastic looking metal is pure nickel and it's worth 3 times more than copper.
But of course you're right. The French 10 francs, with a face value of around 1.5 € before demonetization, is now sold in bargain bins for 0.10 € as much as you want. You can even found the Dutch 5 guilder, with a face value of around 2.25 € before demonetization, in those bins but in much smaller amounts.
And even these prices are too high because hardly anyone buys them for that price.
Welcome to modern money, coins no longer have bullion metal value, its a promise to pay a certain amount stamped on a (Mostly) round disc of some worthless base metal or alloy of worthless base metals.
Aussie, Canadian and American dollars all still have spendable value. Maybe not USA, but base metal $1 and $2 coins of Canada and Australia still have value as none I believe are obselete yet.
I love coins. Especially silver, gold and anything really old.
Member of the Royal Numismatic Society of New Zealand and the Auckland Numismatic Society
