Grannybait

[robbiegal]

little seems to NOT be granny bait lately

the list is sooo long that I have no bloody idea on what is or isn't the so called granny bait  anymore,

doesn't matter - you know i get irked  
so be it

[trout]

little seems to NOT be granny bait lately

the list is sooo long that I have no bloody idea on what is or isn't the so called granny bait  anymore,

doesn't matter - you know i get irked  
so be it

Who knows RG, Maybe in 40-50 years what is now considered as grannybait may become the talk of the town and become prized possessions, Not unlike how the 1966 proof sets are regarded now :ok:
Anyway to me that is irrelevant as I just buy what I like the look of, Grannybait or not

[trout]

Defining what is Grannybait and what isn't is a pretty grey area.
Some collectors define ANYTHING that wasn't issued for circulation as "Grannybait" and other collectors don't accept that any coin should be called  Granybait ( lets just call it GB :ok: ).
At the moment there seems to be 3 categories of coins that come from the Mint.
Circulation coins, NCLT and GB.
Circulation coins are dead easy to work out what they are because these are the coins we use in our everyday commerce.
All coins that have a legal tender status but are specially made as collector coins are NCLT or Non Circulating Legal  Tender coins and deciding which of these are GB is pretty much a personal choice but some of them like the Map shaped coins undoubtedly live in the GB camp.
It wasn't that long ago that the Proof strikes of our circulating coins were treated as GB.:angel:
Numismatics is an ever evolving hobby and ideas and what/how we collect WILL change as the years go by and that is a GOOD thing in my opinion.
My best advice is to collect what YOU like, because at the end of the day it is YOUR collection and as an investment idea Coins are pretty much a lousy choice anyway.
A large part of my collections consist of NCLT coins and some of them are what I personally consider as GB But the important thing for me is that I like them regardless of the fact that I will never be able to recoup the money I have spent on them

I have a few Shares, Some PM's and a superannuation account and THAT is my investments, The money I spend on my coins is simply a selfish "Indulgence" that I enjoy and if I win loose or draw it is irrelevant as this is one of my hobbies.
If I was to break down the costs per kilo of the fish I bring home with my other great love Fishing , Then that would make this pastime a waste of money as well.

[autocoupler]

No doubt about it, in fifty years time there will be increases in values of some items that we at this moment could never have allowed ourselves to contemplate, that's a given. But as always we look at offerings in the present day and generally buy what pleases us, and that's how it probably should be with this stuff. I'm not trying to influence others here, but for me this is one time to buy something I like and hopefully see it gain in value. If it doesn't well nothing lost really, it's all fun.

[Unicorn]

Defining what is Grannybait and what isn't is a pretty grey area.

Quite the pun Trout!!! :laugh2:

[trout]

Defining what is Grannybait and what isn't is a pretty grey area.

Quite the pun Trout!!! :laugh2:

I was wondering when someone would pick up on that :angel:

[Fulvio]

Defining what is Grannybait and what isn't is a pretty grey area.

Is it though?

Anything that isn't at least potentially circulating is GB. So the maps, dishes, embedded capsules and outsize coins are all GB. Standard coins in crazy packaging is GB. Anything from 'Flag of Convenience' nations, which pretty much covers everything produced by the Perth Mint and private mints like Macquarie is GB.

'Real' coins, such as MYOs, Proofs, Privys, Specimens or sets are NCLT, but escape the GB tag because they can, and do, turn up in circulation.

Mind you, a lot of NCLT is just as bad an investment, or worse, than GB. *cough* Masterpieces! *cough*. But its not all just about valuations. Rather the intent to deceive and trick people into buying overpriced rubbish produced for no other reason than to rip them off.

[r9453]

Yes it's a grey area. If for no other reason than the term itself is so ill-defined. The yearly uncirculated and proof sets are a record of the circulation coinage but I'm not sure where the silver and gold sets fit in. And in 2006 didn't the sets include 1c and 2c coins which were not circulating at the time which is a bit confusing. However, any coin that is not a circulating denomination i.e. $5, $10 etc. is not a grey area.

[Fulvio]

any coin that is not a circulating denomination i.e. $5, $10 etc. is not a grey area.

:agreed:

[trout]

any coin that is not a circulating denomination i.e. $5, $10 etc. is not a grey area.

The 2000 Sydney Olympic games 28 $5 coin set is a good example of GB.
Then we have all the $10 State series, endangered species, Birds of Australia and the list goes on and on.
Even our Beloved 25mm $1 coin series has its own GB component although most of these are recent issues like the ABC 26 coin sets for 2015 and 2016.
Many collectors also consider the 25mm $1 Silver Proofs as GB But that hasn't stopped me collecting these and I have the complete set up to 2014 and a few of the 2015 and 2016 coins as well.
Most of the Masterpieces in Silver sets although exquisitely Minted and designed also tend to fall into the GB range.

The list of GB is rather large and is expanding rapidly as RAM and the Perth Mint are continually expanding their range of "Collectable" offerings.
If you do want to collect this type of coin it is best to wait a few years for the dust to settle and pick them up on the secondary market for what is often a fraction of the issue price :ok:
I do try and adhere to this advice but more often than not my impatience gets the better of Me :angel:

[trout]

I picked up the 2007 Ashes $10 Gold coin yesterday to add to this Mini collection I am slowly putting together.
That just leaves only  the 2013 Holy Dollar and dump  coin to acquire. :yahoo:

[r9453]

Where do these 2016 $2 Olympics coins fit in, are they grey area or is it black and white (and yellow and blue and green and red)?

[Goldseeker]

Where do these 2016 $2 Olympics coins fit in, are they grey area or is it black and white (and yellow and blue and green and red)?

I believe that they are not granny bait as the coins are going to be and are now in circulation.

[r9453]

Yes, I think you are technically correct but imo they are perilously close to the grey area.

[trout]

The Olympic $2 coins are circulation issues But I highly doubt that that many will actually circulate as most people will tend to keep them and not spend them :ok:
If RAM gets "Tricky" and adds a "C" mintmark to the coins in the 5 coin set then these could be seen as GB But not the ones being distributed by Woolies at the moment.