A "Complete" collection, Is it still an achievable/worthwhile goal ??

trout · December 08, 2016, 10:03:47 PM

With such a vast array of different coins coming out of RAM over the last few years is has become increasingly difficult and mega expensive to be able to keep our decimal collections up to date.
The 5c and 10c sets are still an achievable goal, even with the many "Mint Set only" coins needed and the $2 set is still "Doable" But the other three denominations have become an absolute nightmare just to maintain a complete collection.
Can you imagine how difficult and expensive it would be for a new collector to put together a complete set of 25mm dollars or a set of 50c/20c coins nowadays.
Up until Mid 2015 I had every 25mm dollar coin minted by RAM excluding the Gold coins and was well on my way to having a complete set of the 50c coins as well.
A complete collection of 20c coins at this stage was still not an impossible task and is still an achievable albeit expensive goal .

The advent of the ABC dollar coins in 2015 was the trigger that made me reassess how and what Decimal coins I collected.
I threw the idea of having every single different coin in my collection out of the window and just concentrated on the coins that I personally found interesting or relevant for my collections and ignored the other issues.

Are there still collectors out there that continue buy every single offering from RAM regardless of its relevance just to maintain a "Complete " Set despite the costs involved ??

Fulvio · December 08, 2016, 10:12:39 PM

Didn't we decide long ago that Granny bait aren't real coins?

Yes, complete sets of CIRCULATING coins are doable.

No, NCLT sets aren't worth bothering with, because of the insane starting prices and the fact they lose rather than gain value.

humpybong · December 08, 2016, 10:31:46 PM

I collect a uncirculated mint set every year and that is it for me these days.

The only other coin I try to keep up-to-date with is the 5 cent coin. Making sure I have a complete set when they are finally done away with!

trout · December 08, 2016, 10:33:44 PM

QuoteNCLT sets aren't worth bothering with, because of the insane starting prices and the fact they lose rather than gain value

For many collectors (Myself included) collecting is Not all about the money and quite a few NCLT coins are considered by collectors to be very worthwhile and rewarding to collect.
Just because a coin isn't minted solely for the use in commerce doesn't necessarily condemn it to irrelevance and unworthy of collecting.
The problem that we have now though is that there are just too many NCLT coins being issued every year and the rate is increasing.
The days of just adding a handful of coins each year to your various decimal collections and keeping them up to date and complete are pretty much Long Gone

r9453 · December 09, 2016, 06:16:29 AM

In theory it must be achievable, if money were no object but I don't think its worthwhile. The 5c and 10c are not on my radar since I don't buy any RAM products at all since 2013 but I do still collect what I find in my change. I did have the idea of completing my collection up to 2013 and drawing a line at that point. I only need a relatively small number of coins including the 2010 heritage set which is a rather large hurdle. Documenting and cataloguing what is required is an interesting task in and of itself.

QuoteJust because a coin isn't minted solely for the use in commerce doesn't necessarily condemn it to irrelevance and unworthy of collecting.

That's very true. Every rule has exceptions, including the "no Granny bait" rule.

QuoteNCLT sets aren't worth bothering with, because of the insane starting prices and the fact they lose rather than gain value.

QFT.

trout · December 09, 2016, 08:01:54 AM

I still get the Mint and Proof sets every year plus the Baby sets if the coins are different, That isn't a huge ask and as most of the coins in the sets are the circulating designs for that particular year I can justify the purchases to myself :angel:
It is also the only way I can guarantee that I get the circulating design coins and that they "Should be" are in good condition.
I no longer worry about missing out on some new 50c or dollar coin just because it has been issued by RAM and I now judge everything on its merit and IF it fits in with what I want for my collection.

At the end of the day my collections will not be technically complete but I will be happy with what is in there.

r9453 · December 09, 2016, 08:47:03 AM

Quote from: 'trout' pid='102444' dateline='1481232714'At the end of the day my collections will not be technically complete but I will be happy with what is in there.

Me too, with my pre-decimal collection I know exactly what the goal is - 362 coins. I also know that there are 2 or 3 coins that will probably always be out of my reach but I'm content with that and I concentrate on what is possible. Low hanging fruit, so to speak. Today I'm heading over to Pacific Rim for a bit of numismatic bs and will definitely bring something back to add to the collection. That'll do me.

kchan1111 · December 09, 2016, 10:02:21 AM

Quote from: 'r9453' pid='102446' dateline='1481235423'Me too, with my pre-decimal collection I know exactly what the goal is - 362 coins. I also know that there are 2 or 3 coins that will probably always be out of my reach but I'm content with that and I concentrate on what is possible. Low hanging fruit, so to speak. Today I'm heading over to Pacific Rim for a bit of numismatic bs and will definitely bring something back to add to the collection. That'll do me.

Exactly my thoughts. I just don't want to feel like I am being held hostage by an open-ended collecting goal. I still get the occasional RAM coin if I like the design or theme. But I just don't like to be forced into get one of everything.

I am trying to reach higher than the low hanging fruit though. i.e. Spend the money on 1 or 2 key dates rather than having dozens of common ones. Downside is I have to settle for a sad looking registry set. :cray:

gabby · December 09, 2016, 11:25:13 AM

As I'm new to this I find this subject quite interesting.

At the moment I'm getting the proof and unc sets

Also trying to get the wedding and baby sets but turning out to be a bit expensive - may have to have a rethink

r9453 · December 09, 2016, 12:27:03 PM

I'm on my way back in the train. Low hanging fruit when you are a bit of a giraffe can be expensive - 4 coins for a thousand bucks. A 1935 shilling, 1942 "sans I" penny, 1942 3D and a 1926 florin.

Getting a full set of decimal sets would certainly add up to a fair bit as well.

nealeffendi · December 09, 2016, 04:06:47 PM

Quote from: 'kchan1111' pid='102450' dateline='1481239941'
Quote from: 'r9453' pid='102446' dateline='1481235423'Me too, with my pre-decimal collection I know exactly what the goal is - 362 coins. I also know that there are 2 or 3 coins that will probably always be out of my reach but I'm content with that and I concentrate on what is possible. Low hanging fruit, so to speak. Today I'm heading over to Pacific Rim for a bit of numismatic bs and will definitely bring something back to add to the collection. That'll do me.

Exactly my thoughts. I just don't want to feel like I am being held hostage by an open-ended collecting goal. I still get the occasional RAM coin if I like the design or theme. But I just don't like to be forced into get one of everything.

I am trying to reach higher than the low hanging fruit though. i.e. Spend the money on 1 or 2 key dates rather than having dozens of common ones. Downside is I have to settle for a sad looking registry set. :cray:

Just trying for a decent pre decimal complete set (even without the 5-6 figure rarities) is a tough slog for most of us, but at least I know there are under 400 coins involved and I can enjoy it for life trying to upgrade. With the decimals though I won't even to begin to collect them because there are no limits. Proofs, show mint marks, privy marks, gold and silver versions, colourized, PNCs etc etc. I'm sure the mint has even considered variations on the ABC coins to appeal to overseas collectors with maybe Russian alphabet, Chinese Kangi and whatever grannybait privymark options to appeal at overseas coin fairs. Imagine if each of the 26 ABC coins was offered in "limited edition" privymark with each of the signs of the Chinese zodiac for Chinese New Year (hope I'm not giving the mint any ideas). Plus you cannot have a complete set unless you have a 1 ton gold coin and other jokes from the mint.

notcb · December 09, 2016, 04:18:50 PM

Trout,

I have been fortunate enough to be able to maintain a complete collection of all 50cent coins issued by both the RAM and Perth Mint, although at times it has been quite expensive with the gold sets and some of the lower mintage 1/2oz lunar coins.

The change of policy by the RAM to issue single denomination gold and silver proof coins in 2013 was a welcome decision, but then they changed back again for 2016, in my view, a poor marketing decision.

Not all NCLT coins fall in value - for example the 2008 Perth Mint 1/2oz proof Series 1 Lunar Mouse, of which there were only 277 minted, have sold at over $500 each, due to their rarity.

I suspect that over time many of the NCLT coins issued with limited/restricted mintages, will appreciate in value considerably, especially from overseas interests.

Cheers
Peter (notcb)

trout · December 09, 2016, 04:27:19 PM

A complete pre decimal set was pretty tough and expensive to complete 10-15 years ago, Now it is even more expensive and it would be rather scary for a novice collector to try and complete a set from scratch today.
This is why the majority of younger or newer collectors are focusing on the decimal sets because it is not anywhere near as expensive to compile a decimals set in high grades as it would be to do the same in the pre decimals.

Having a "Complete" set of decimals is probably not an option or even a desire anymore for collectors But a nice set of high grade decimal coins of your choice can be achieved without having to sell the farm so that some Fun can be had putting the collections together without breaking the bank :good:

QuoteI suspect that over time many of the NCLT coins issued with limited/restricted mintages, will appreciate in value considerably, especially from overseas interests.

:agreed:
The hard part is picking out which ones :angel:

Fulvio · December 09, 2016, 05:38:27 PM

Quote from: 'trout' pid='102461' dateline='1481263039'The hard part is picking out which ones

And therein lies the problem.

You can stash away every shiny coin that crosses your path, every error, every UNC bag, and if they turn out to not all be million-dollar coins, its not a big deal. You (or more likely your heirs) can always spend 'em or bank 'em. All you've lost is the interest you didn't earn. Which is stuff all right now anyway.

BUT if you stash every bit of NCLT, and the majority go sour, you've blown 90% of what you 'invested', which you won't ever make back on the one or two winners.

Even those bags of Coronation $2's that turned green on me weren't a loss as such. They were still worth what they cost me. But if I'd paid $14 a coin for them, I'd still be in mourning.

The RAM needs to realise that while they snare a lot of neophytes with their rubbish, when these people wake up that they've been conned they're more likely to abandon the hobby entirely than they are to become more selective. And that does nobody any good. Including our heirs, who will need these people to be in the market when they go to sell our treasures.

trout · December 09, 2016, 07:36:12 PM

Nobody with their head screwed on properly thinks that collecting coins is a wise or solid investment, I certainly don't.
It is a hobby or a pastime and there are associated cost involved just like any other hobby.
Unlike some other hobbies like fishing or hunting where at the end of the day your fishing or hunting gear is only worth a fraction of what you paid for it Coins CAN actually increase their worth But that is NOT guaranteed and in most cases this doesn't happen.