Canadian Coin Collectors?
the Royal Canadian Mint is making way too many coins. Most of them don’t even have pictures to do with Canada on them like 1 has a picture a of Santa Clause on it, another is shaped like a playing Card, there are about 40 different olympics quarters, Hockey team symbols, about 50 different olympic dollar coins, a 20dollar coin with a picture of sharks on it, most of them are not even being circulated and have to be purchased off the Mint. My point is they are making way too many and making it imposable for a Collect to get them all, especially since they are not all being circulated. any thoughts on the subject?
take a look:
http://images.google.ca/imgres?imgurl=http://www.coinnews.net/wp-content/images/2009/2008-Canadian-Coins.jpg&imgrefurl=http://www.coinnews.net/2009/07/page/5/&usg=___zq9-ICOd9jm8Zto2dsZr9EEIrQ=&h=226&w=387&sz=18&hl=en&start=90&sig2=L1I6HxLa6M8ZP1ZMs3m5gA&um=1&itbs=1&tbnid=CmMfT4XKC3SakM:&tbnh=72&tbnw=123&prev=/images%3Fq%3Drare%2BCanadian%2Bcoins%26start%3D84%26um%3D1%26hl%3Den%26lr%3D%26safe%3Doff%26sa%3DN%26rlz%3D1W1ACAW_enCA336CA336%26ndsp%3D21%26tbs%3Disch:1&ei=fK6MS4PGDpXClAfLo7GuDQ
http://images.google.ca/imgres?imgurl=http://www.coincollectingnews.org/wp-content/uploads/2009/09/Top-3-Moments-Featured-25-cent-Olympic-coins1.jpg&imgrefurl=http://www.coincollectingnews.org/2010-canadian-25-cent-coin-designs-selected-by-vote/105662&usg=__TrPL33_Cmw0_v4ULBKifYqf4Na4=&h=370&w=510&sz=63&hl=en&start=105&sig2=foXQgr8IrG2vWFKXlRB–g&um=1&itbs=1&tbnid=T3a5Qi26W6GBLM:&tbnh=95&tbnw=131&prev=/images%3Fq%3Drare%2BCanadian%2Bcoins%26start%3D84%26um%3D1%26hl%3Den%26lr%3D%26safe%3Doff%26sa%3DN%26rlz%3D1W1ACAW_enCA336CA336%26ndsp%3D21%26tbs%3Disch:1&ei=fK6MS4PGDpXClAfLo7GuDQ
http://www.coinnews.net/wp-content/images/pr/RCM/Royal-Canadian-Mint-Latest-2008-Coin-Products.jpg
(excuse any spelling or grammar mistakes)
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It is frustrating for the long-time collector, but the long-time collector is not who they’re going after. They are hoping to attract new collectors, and offering a huge variety of choices opens it up to a wider audience. The RCM ( and the US Mint, who is doing the same thing on a much smaller scale) isn’t worried about future value as much as they are selling what they have today.
It’s completely a business decision, and it’s perfectly understandable. Think about it. These mints are government entities. Do they make money from the coins they produce to be used as money? Absolutely not, they lose money. They sell what they produce to banks at face value; production and distribution costs eat that up and then some. But what they produce for the collector market (and don’t forget the sizable investor sub-market) is sold for substantial premiums. Wouldn’t you, if you were in the business of making coins?
its not just the canadian mint that is doing this!! almost every mint in the world is after collector dollars! some even mint coins for places that have no people!! this is why i collect "circulating coin of the realm". in other words if it spends, i’ll collect it. this includes tokens, too. if you want to collect, than i’d suggest just staying with circulating issues. and your wallet will thank you, too.