Penny for your Thoughts

News: Registration is free here at the CPMF!

http://www.cbc.ca/canada/story/2010/01/04/consumer-canadian-coin-auction.html?ref=rss

"change the face of the Canadian numismatic market as a host of coins that have not seen the open market in years make their way back into the general coin collecting populace."

Any comments, thoughts on how this relates to CPM?

Well since they are coins, they don’t relate, lol.

I hate being the first to comment on these type or questions, but here goes;

A possible positive spin to this is that this second record breaking event in recent numismatic history, definitely putting the spotlight on the Canadian currency, as a collecting option for foreign collectors looking to expand their collections. The Canadian bank notes definitely have some outstanding vignettes and artwork, and there are many chartered and modern banknotes that are extremely rare.

So back to the question, no do not see any change to the Canada numismatic market in the short term near future, but in the long term yes it should only get better.

Simply put, rare and tough will always be rare and tough, no matter how tough the economy is.

So when do I get my penny??

It might gete more people interested in collecting.  And some coin collectors hop the fence to paper money (or do both).

Granted, the demand side is and will be there for rare notes and sales like this will most likely shine the spotlight on Can. currency.

What I have no idea of is the demographics of collectors holding rare notes. My unsubstantiated guess would be that these collectors are more mature (boomers), and rare notes should start seeing the light of day.

Comments?

I would agree with that. Personally speaking their are many older notes that i would love to purchase but i have been hesitant for a few reasons. 1. i need to spend more time researching these notes and 2 my thoughts are that since the "boomers" make up such a large portion of the population and generally speaking many of these collectors like older notes ( let's say 54 and older) I'm scared of the eventual possibility of a flood of notes that haven't been seen in a very long time entering the market place. I've had the luxury of seeing some collections and some were not only impressive as far as notes but they were massive collections.  As for the record breaking price paid, it brings sum attention to our currency although this is for a very small group of people who can make such purchases yet maybe it can draw some to more common notes and that to me is nice to see!

FWIW

MG