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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 01/02/2008 : 21:10:50
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With Canada removing so many of their pure nickel 5¢ coins from circulation, and with Madeuce helping Canada in its endeavor, (You are a champion coin sorter by any standard, Madeuce!) this has left an issue that may prove profitable from a numismatic standpoint that many have not considered.
With so many nickel Canadian nickels gone into the melting pot, those that remain might develop a numismatic demand.
Could Canadian pure nickel five cent coins be the sleeper of the future?
(Sleeper= an overlooked coin that collectors ignore or know little about while they are cheap and easy to get.)
Consider the fate of the silver coinage of the 1960's. It wasn't just US coins that ended up being bought up for their melt value, but Canadian, South American, British, French, any coin with a decent amount of silver content was bought for either speculators or for the silver consumers. The coins that survived and were in fairly decent shape sold for their silver content while those in near perfect condition sold for a premium.
Since Nickel is such a hard metal compared to silver or cupro-nickel, finding nickel Canadian nickels in near perfect shape in circulation might be possible.
Perhaps there are AU or better Canadian nickels still circulating waitng to be set aside for future profits.
The drawback to all this is the timeframe issue.
It may take may years, perhaps a decade or so before the coin collecting public comes around to the idea that Canaidan nickels are hard to find and worth more than face value.
I know this is a bit of a longshot, but consider the Buffalo nickel. It is only cupro-nickel, it is not silver or gold, yet Buffalo nickels are popular among collectors because of their appearance and because they are not being made any more.
Since Canadain nickels will no longer be made of nickel their collectable demand may increase in the future.
Canadian nickel 5¢ coins already have a melt value premium, maybe a numismatic premium will develop.
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Edited by - pencilvanian on 01/02/2008 21:15:49 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/03/2008 : 07:28:46
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| I'm saving mine, but not holding out a lot of hope. I think it is a real long shot. Just because something is scarce does not make it valuable. There has to be demand. There are plenty of foreign coins that have very low mintages that are not worth anything.. because noone collects them. There are a lot more collectors of US nickels than there are of Canadian nickels. I don't think scarcity will create demand. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/03/2008 : 08:33:02
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If you are hold on to them for their bullion or metal value over the very long term you might also realize a profit from collectable demand. What years, if any, have a special art design to them?
I'm going to move this over to the numismatic forum so that it won't get lost here. |
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Think positive. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 01/03/2008 : 08:48:46
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If I was going to make a play on that, I would try to pick up a few higher grade coins. I see one person advertising a 1968 mint set for about $2.10 over face...so less than $2.00 over melt plus shipping. I guess that goes to show that few people are into collecting Canadian coins. 
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Edited by - horgad on 01/03/2008 08:49:40 |
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Canadian Nickel Thought
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