Coins from the Mint

[smiffy]

hello everyone,

A friend of mine buys his nieces and nephews coins from the Mint each year for presents. Not really that much fun for them but he says they will be worth quite a substantial amount once they are older.

Is this correct? I have done a quick google and cant seem to find anything.

Any feedback would be great?

Cheers
Smiffy

 

[Nathan]

Yep I invest heavily in this, more as just a collectable however they are worth a mint!

Pardon the pun!

Depends on which coins however some lose value just like anything however some go gangbusters. I have a $1 coin from 2001 which was sold for $7.50 now can sell on ebay for $250 easy.

 

[The Y-man]

Not really that much fun for them ...

Yeah, make sure they don't go and spend it at face value!

The Y-man

 

[AlmostBob]

am in Canberra now, visited the mint, Tourist at large
Important rule of travel

"Do not say Tourist in a mixed Aus/Can accent in airports, say traveller"​

prices for proof sets of coins even from last year, are enormous, huge.
some sets from previous 5 years, face values of $3.85 in coin are $3000

 

[Kristine..]

We gave No: 1 Son and his Wife the Wedding Set of mint coins at their Wedding earlier this year

We inscribed the plaque 'The Value of Marriage' and made a little speech about how their Marriage was the best investment of their lives and how we hoped it would grow in value for them every year

That the Mint Condition of the set of Australian Currency, would reflect the Mint Condition of their Marriage for many years to come

There was not a dry eye in the house!

The Wedding Set comes in an ivory presentation 'book' style box, complete with ribbons, and quite a few people were so impressed by this lovely Set that they asked how we had come about it. I believe the Mint actually mints the presentation coins just before completing the order and that they don't offer the Sets every year as they don't mint the whole range of coins every year

And yes, there were lots of jokes about the Value of their Marriage being $3.85, so very interested to hear that some of the recent Sets have already shown an increase in value

Cheers
Kristine

 

[pennyk]

well, anything is only worth what people will pay for it. We have a large stamp collection, which my parents set up for my siblings and I. They expected that it would have appreciated significantly in value, but in reality its worth very little... probably not even what they spent on the stamps.
I think coin collections are very similar. Unless there is a very rare piece, they don't get that much more valuable.
Pen

 

[Ausprop]

stamps are shockers, many 80's stamps are best used as postage. the true loss is dreadful... imagine if woodside shares had been bought instead!

 

[Mark Xpnsit]

I would agree, in terms of the amount of years you have to hold on to it the return is probably pretty low - although if you have enough you might end up with a rare one worth a bit. Have a look to see if there are people selling them through secondhand dealers or even ebay to get an idea of value.

 

[redwing]

stamps are shockers, many 80's stamps are best used as postage. the true loss is dreadful... imagine if woodside shares had been bought instead!

I'd better not tell the F-I-L, he put together a huge collection, mainly from the post office for his kids (now in their thirties).

 

[INVSTOR]

mY Husband's mum spent all his immicalute $1 notes then replaced them with coins. Then someone broke in and stole his other collectable coins. Maybe someone should invest in a safe also?

 

[Dazz]

stamps are shockers, many 80's stamps are best used as postage. the true loss is dreadful... imagine if woodside shares had been bought instead!

This is the area where the choice of the 'capital allocator' either screams ahead of the pack or lingers in the dust with the also-rans.


Spending a large chunk of your life chasing a goal and achieving it doesn't mean jack-squat if the goal you chose to chase was worthless in the first place.

 

[santaslayer]

I bought 3 Mary Mackillop gold coins from the Perth Mint. I thought they would have some sort of $value as they were only making 2010 of them. There is also an emotional value markup most Christians would put on it I guess. (I'm not a very good Catholic by the way lol).

 

[redwing]

stamps are shockers, many 80's stamps are best used as postage. the true loss is dreadful... imagine if woodside shares had been bought instead!

I was talking to the father in law the other day on stamps and coins as he has an extensive first day of issue stamp collection and I've a mixed bag collection of coins inherited and collected from various sources. Now he's retired he has been cataloging his collection. The FIL enjoyed collecting them but also looked at it as an investment for the kids(now adults) in the future

Apparently many of the sheets of Australian stamps are worth only face value and the Australia Post albums are not worth a fortune, with many being common stamps. Values have fallen as well as there are less collectors out there and lets not forget about inflation when looking back at some of these collections

I'm sure many of my coins fall into the same categories, maybe some worth slight more due to the metals in them

The hard part would be valuing and selling them, some collectors may only want parts of the collection, or others happy to buy the whole collection to keep a small percentage of what they require and then offload the rest

A dealer may only give you about 50% face value and then sell them for around 80% face value

You then have some large collections worth a mint

The Gray ?KGV? collection is expected to be invoiced at around $A5 million.

Who knows, you may just inherit a collection in the future, hopefully it's a share collection

 

[INVSTOR]

Who knows, you may just inherit a collection in the future, hopefully it's a share collection

Pft, shares... I don't have many shares but past couple of days been trying to locate some to sell. They were a dividend re-invest so never received any income from it. Discovered they got sold 2.5 yrs ago. Umm, I thought they were increasing in number. I found an old email account I stopped using 3 yrs ago and found an unopened email from the company stating that because I had a small holding they would sell them unless I asked them not to and to update my address, TFN and other details. I've had 5 addresses in past 5 years. Will need to chase up tomorrow and amend previous couple of years tax returns. I don't think my tax agent picked up on it either. Possibly because I didn't receive any money? All confusing for a novice like me. Or maybe it would go in current return? I didn't know they were able to just sell like that.

 

[datto]

This thread has taken a serous twist lol.

I wouldn't worry about the shares lol, that's ancient history.

I do hold the 2000 Olympic gold coins - all eight in a box. They haven't gone up much.

 

[hobo-jo]

Not all coins appreciate in value more than the metal they contain & many even fall in value due to the large premium paid initially. For example if you pay $100 for a 1 ounce Silver coin and the value of the underlying metal is only $22, there is a long way for the price of the coin to fall if secondary market demand isn't strong for that particular design.

The Olympic coins are a good example of those which have not performed well due to low demand. I've bought multiple Gold coins in the series for spot price (basically no premium paid for the coin over metal content).

The kilo silver coin sold in the year 2000 for $860:

http://shop.auspost.com.au/INTERSHO.../en_AU/assets/document/1239072250-bull256.pdf

Silver spot price was around A$8 an ounce, so the value of the metal in the coin was around $255.

I recently sold one of these same coins for $950. Only $100 more than the 2000 price, but Silver is now A$22 an ounce. So the coin has appreciated by around 10% and Silver by around 175%. You can see in this example you would have been much better off buying low premium silver bars instead of the coin.

Of course it doesn't always work like that. Some premium coins I bought in 2011 held their value despite a large drop in the spot price of Silver.

My recommendation for the casual silver/coin buyer would be to buy mostly 1oz mintage limited BULLION Perth Mint coins (at or near issue price, usually $5-10 premium over spot for a 1 ounce silver coin), those such as the Kookaburra & Lunar series coins are a good place to start. The premiums on these tend to appreciate over time. If buying Gold then just stick to low premium, well recognised bars of the stuff and avoid any high premium coins.

For those a little more adventurous there is an auction in Melbourne this week that is worth a look (I would be there and bidding on some items if could do so easily in person):

Catalogue: http://downies.com/aca/PDFs/319A/Auction_319_RAM_LR.pdf

Story: http://www.smh.com.au/money/investing/master-coin-sale-worth-cashing-in-on-20150519-gh1fgx

 

[datto]

thanks for those links, That $3000 coin looks impressive. They expect $60 K at auction !