Good news for Canadian Penny Collectors
Yesterday (July 30, 2012) the Royal Canadian Mint (RCM) announced that their decision to continue distributing the penny until February 4, 2013. The original kill date for the Canadian penny was set for sometime in September of 2012. (Click here: Canada Kills Penny to read the previous post on this issue). This extension allows banks and shops and the general public more time to prepare for this transition. Shops will need to train their employees to be ready to round to the nearest 0 or 5 cents.
This extension also allows penny collectors more time to continue sorting until February 2013. This is just about 6 months away. The pennies death clock has been reset. So take advantage of this, and continue to hoard those coins!!!
Here is a link to the article where I read the news: CBC.ca/Penny-story
Tuesday, July 31, 2012
Wednesday, June 20, 2012
A Refreshing Craigslist Experience
I believe I am becoming more and more cynical when it comes to finding anything decent being sold on Craigslist. All too often, I find myself emailing a seller and agreeing to their asking price only to find that they are now selling to a highest bidder because of the high amount of emails they received. Even worse is when you agree to a set price only to learn that the seller was offered a higher price, and you can either match the "new" price or it's going to the mystery bidder.
I miss the days when the first email agreeing to the asking price won the item.
Anyways my cynicism was dealt a mighty blow last week when I stumbled across the Craigslist post below:
What was it that made this particular Craigslist post so special? I'll tell you. First, the seller knew the approximate melt value of the coins, and still was offering the collection at a discount (approximately 18x face value). Second, the seller agreed to sell to the first person to email her. I was the second person to email and was promised the collection if the other person failed to buy them. However, at around 18x face value I didn't stand much of a chance of getting the coins.
I think anyone would feel pretty salty about missing such a wonderful deal on a very nice looking coin collection, especially if you were off by one email. But at the same time I was happy to see moral and ethical behavior hasn't been completely drained from Craigslist.
It would have been extra nice to interact with this seller and also win the coins, but since I couldn't have both, I'll settle for the refreshing experience and hopefully snag a collection like this in the future.
Happy coin roll hunting!
I miss the days when the first email agreeing to the asking price won the item.
Anyways my cynicism was dealt a mighty blow last week when I stumbled across the Craigslist post below:
This is a large lot of US silver coins. 11 liberty/peace dollars, 134 half dollars, 107 quarters, and 315 dimes. All pre 1964. I'm also adding a 2 uncirculated silver liberty dollars, and a bunch of buffalo nickels.
please note that the coins are a mix of loose and in books - the books are not full - the coin totals are as above. If I go by the silver melt value (as of june 8th) this should go for $2820.
What was it that made this particular Craigslist post so special? I'll tell you. First, the seller knew the approximate melt value of the coins, and still was offering the collection at a discount (approximately 18x face value). Second, the seller agreed to sell to the first person to email her. I was the second person to email and was promised the collection if the other person failed to buy them. However, at around 18x face value I didn't stand much of a chance of getting the coins.
I think anyone would feel pretty salty about missing such a wonderful deal on a very nice looking coin collection, especially if you were off by one email. But at the same time I was happy to see moral and ethical behavior hasn't been completely drained from Craigslist.
It would have been extra nice to interact with this seller and also win the coins, but since I couldn't have both, I'll settle for the refreshing experience and hopefully snag a collection like this in the future.
Happy coin roll hunting!
Friday, March 30, 2012
Canada Gets Rid Of The Penny - Fall 2012
Big News regarding cheap copper
The Royal Canadian Mint (RCM) will officially stop releasing pennies in the fall of 2012. In just over six months time, people will start to have to start rounding their to the nearest "0 or 5 cent".
If you are a coin collector or invest in pennies for their copper, I would suggest picking up the pace. These next few months will go by fast and who knows if you'll be able to order pennies come September.
It isn't clear to me, if banks will be able to distribute these coins after the new policy starts. I believed the RCM would start culling copper cents as part of it's recycling program over this option. The RCM has been culling their Nickel and Silver coins for some time now.
It will be interesting to see if Canadian banks start receiving requests from their customers to order large numbers of pennies through this summer. Buy them now while you still can!
I have copied the link to the CNN story here: CNN Canadian Penny Story
We would love to hear your opinions, please leave your comments regarding this topic.
The Royal Canadian Mint (RCM) will officially stop releasing pennies in the fall of 2012. In just over six months time, people will start to have to start rounding their to the nearest "0 or 5 cent".
If you are a coin collector or invest in pennies for their copper, I would suggest picking up the pace. These next few months will go by fast and who knows if you'll be able to order pennies come September.
It isn't clear to me, if banks will be able to distribute these coins after the new policy starts. I believed the RCM would start culling copper cents as part of it's recycling program over this option. The RCM has been culling their Nickel and Silver coins for some time now.
It will be interesting to see if Canadian banks start receiving requests from their customers to order large numbers of pennies through this summer. Buy them now while you still can!
I have copied the link to the CNN story here: CNN Canadian Penny Story
We would love to hear your opinions, please leave your comments regarding this topic.
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