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One other thing…..If you are a member of a coin club or numismatic organization please don’t forget to renew your dues for 2021. They need your financial support now more than ever.
Without any numismatic shows or in person meetings for the next few months or even longer, those that rely heavily on income generated from these events may not be able to recover once the pandemic is over.
Further compounding the problem may be the scarcity of adequate affordable meeting spaces that may force some clubs to close rather than relocate particularly if the membership numbers are drastically reduced in response to the lack of activities.
While there is no doubt that this unprecedented health crisis is a temporary one, organized numismatics is facing some of the most difficult challenges and changes not witnessed in decades. So much effort has gone into attracting new members to meetings and the public to shows, only to have this snuffed out by the Coronavirus.
Yes, I do collect the SML & Wildlife bullion that I find attractive and desirable with no objective to complete the series. I especially like the privy mark and reverse proof issues as they are less susceptible to ‘milk spots’.
I don’t have a budget and buy what I like. Lately it had been more medals and less inexpensive items as I like many others have slowly learned their lesson to not purchase over priced items on a whim or based on unsubstantiated ‘hype’. I get that there is a lot of expense in creating a coin or collectible that exceeds the mere face value or precious metal content and that they are also treated as works of art/masterpieces that are fun to show off and talk about.
If it is something I really want the question is always ‘can I afford this?, do I care if the resale value plummets to 40% or less?, does it fit in with my collection and provide me with lasting enjoyment?’
Pizzaman, if you are being offered 40% for a bullion item don’t take it, find another dealer who will gladly pay 75-80%.
If it’s an NCLT precious metal product already priced at 4-6 times the intrinsic value that you are peddling, the risk is yours.
Canada 125 & 150 sets, silver maple leafs, face value silver coins ($20 for $20) and fractional silver sets.
If I am sitting on the fence deciding whether to purchase a ‘hot’ item that has a mintage over 5000 and is not ridiculously expensive, I’ll wait 6-12 months and snag it for considerably less than issue price. Once purchased I realize the resale value will continue to plummet but hope that it remains strong enough so I won’t lose my shirt trying to get rid of it later if I suddenly need the extra cash.
Local club shows in my area within a 1.5hr drive are always top on my list followed by the annual conventions (ONA, RCNA) as my budget allows.
If I were to list the club run events that I enjoy the most it would be the Cambridge, Guelph, Paris, Stratford and Brantford shows.
For me it’s more about the camaraderie than the coins and those shows that offer more material and attract higher attendance are always exciting. Heading home with a few prized items that I had been searching long and hard for makes for a good day!
Wonderful event where I had a great time, met with fellow collectors and added to my numismatic knowledge through the various seminars.
Flat clinch stapler for 2x2s, Loupe, Microsope, Magnet and scale.
In addition to the reference books not mentioned, the stapler makes it easier to put the 2x2s in sheets while the loupe and microscope help to identify varieties. The scale is terrific for cataloging coins and verifying weights to help determine their authenticity. The magnet also helps to separate the various varieties of 1 cent coins as well as counterfeit silver coins made of base metal.
To sell off some excess unwanted material while also adding to my collection and maintaining my involvement in the hobby via club meetings and local area shows whenever possible. It is important that no matter how little you collect to remain connected in some meaningful way. Numismatics always needs champions, educators and promoters to keep the hobby alive and relevant.