The Royal Canadian Mint is selling 1912-1914 Gold $5 and $10 coins, coins that have been stored in vaults since 1914! I jumped out of my seat when I read this, and now am $500 poorer after buying the 1914 $5.
I'm trying to justify my purchase to myself, but it's difficult considering that I've never even spent half that much on a coin before. I guess I'll have to sell off some other stuff.
Just imagine, the mint apparently had like 220 000 gold coins lying around in a vault , 200 000 of which they are now melting down
The good news is, that the influx of these additional coins into the market, shouldn't have much of a negative effect on the value of similar coins, already in the hands of collectors.
Quote: torontokubaThe good news is, that the influx of these additional coins into the market, shouldn't have much of a negative effect on the value of similar coins, already in the hands of collectors.
Why is that? I was actually wondering whether the values would go down. Maybe because the mint brings these coins to everyone's attention?
Quote: eminemWhy is that? I was actually wondering whether the values would go down.
The coins are being sold at close to bullion value, any collector value these particular years may have had was erased by the increasing price of gold. For the moment, it seems to be a level playing field for all buyers and sellers involved with these coins. Completed eBay auctions fluctuate between around $500 and $800 for the $5 1912, depending on condition, same as the RCM pricing.
I think a lot of gold coins have been minted that were never intended for release but rather intended to be part of the gold reserve. I know this was the case of the swedish 20 kronor gold coin minted in 1925. I would imagine that mintage figures sometimes reflects the numbers released into circulation rather than the actual mintage figures
Quote: redsmithstudiosSo why is the posted mintage figure lower than the amount of coins they have? did they original mint more coins than they released?
Are you referring to the 220 000 of $5 and $10 coins, that they apparently had in the vault?
The Royal Canadian Mint is selling 1912-1914 Gold $5 and $10 coins, coins that have been stored in vaults since 1914! I jumped out of my seat when I read this, and now am $500 poorer after buying the 1914 $5.
I'm trying to justify my purchase to myself, but it's difficult considering that I've never even spent half that much on a coin before. I guess I'll have to sell off some other stuff.
Just imagine, the mint apparently had like 220 000 gold coins lying around in a vault , 200 000 of which they are now melting down
Did you purchase direct from the Royal Canadian Mint or a third party?
The Royal Danish Mint has for a long time been selling 10 and 20 kroner gold coins, minted in 1913-1917.
Got one from my grandmother a long time ago, before she died - the only gold coin I have: https://en.numista.com/catalogue/pieces39996.html
Quote: eminemI jumped out of my seat when I read this, and now am $500 poorer after buying the 1914 $5.
So, any news on the condition of the coin they sent? Any photos?
To my dismay it has not yet arrived, but recently they switched my order status from 'new order' to 'processing'. I'll update with news and pics when the coin arrives
So after some complications with the credit card, the coin finally arrived a couple days ago!
My scanner didn't seem to be working, but here's some half decent photos of my new gem:
The reverse is flawless, I'm just worried about some scratches on the obverse. Anyways, these coins have been selling for way over their value on ebay recently, so I think the values may be soon adjusted
Quote: eminemSo after some complications with the credit card, the coin finally arrived a couple days ago!
My scanner didn't seem to be working, but here's some half decent photos of my new gem:
The reverse is flawless, I'm just worried about some scratches on the obverse. Anyways, these coins have been selling for way over their value on ebay recently, so I think the values may be soon adjusted
Congrats on finally uploading an avatar!!!!!!!!!!!
Quote: dptashnyDo you know what photoscape is? Great for cropping, making gifs out of, and resizing coins.
Good advice. I was also going to ask you, if you know how to edit text that you are quoting? Is it necessary to quote giant photos over and over? Just the text you're responding to, would make for a cleaner topic and be easier to scroll through.
, 200 000 of which they are now melting down 
lol 
