Hi can someone explain what a privy coin is? Is it more valuable, cheaper, or meh doesn't matter? Why would a mint make them?
I believe it's a coin that typically has a little design/emblem that is on the surface of the coin in addition to the normal design(e.g. tank privy maple leafs). Since they are limited mintage, they carry a semi numismatic element, making them more expensive. However, with all the different privy's coming out, you need to think about whether there will be a market willing to pay for that extra premium. Mints make them because (I'm guessing) it's easy money to suck newby's into. Usually best to steer clear of them and go for other coins like Lunars or kooks as they are more reliable.
Privy coins are a marketing gimmick in my view. I do not purchase coins with special privies because I do not want to reward such gimmicks. The reason mints make special privy mark coins is so they can dupe people out of more money. I see no good reason at all to buy coins with special privy marks. .
Thank you both, I was scratching my head, thinking where does it fit between proof and bullion. Yeah sounds like a gimmick.
And remember, my remarks (privy coins are gimmicks) comes from someone who has a very, very diverse stack. But just because I like lots of diversity, doesn't mean that I am going to reward marketing gimmicks like privies on coins. .
The maple leaf for example the privys are reverse proof very nice coins so they are different then the standard maple I sold some koala.s 2014 privy china with a 100% profit so if u call that a gimmick ! Just do u research then u know more .
Gimmicky or not, some of them have appreciated quite nicely. I would buy some if the design is nice, otherwise I'll just give them a pass.
It's also a way of mints selling more of a popular "limited" coin e.g Perth Lunar's, only 300k Ag lunar's in circulation but then out comes the Monkey with Lion privy.
So new in this hobby, I'm looking up reverse proof the one I saw looked 100% the same to my untrained eye. If "reverse" is what i think it is I can see how it might bring value especially if it looks nice or even better But isn't reverse quire different would have thought that was enough lol just the fact it's reversed
If you want to make easy money, just get a normal bullion coin and put a privy on it. Case in point: 1 oz Australian Funnel Web Spider .999 Silver Coin BU w/ RED SKULL Privy
I made my fair share of purchasing mistakes when I was a Newbie but privies weren't one of them. Even knowing a bit more now I'm inclined to still agree with the gimmicksayers.
Yes, like the 2014 Perth Mint Koala Chinese privy. They could barely give them away in 2014 for AU$22 or so at fire sale prices, now they are worth AU$70+ That's definitely the exception though, not the rule.
If you think privys are a gimmick you're missing out on a market that can be consistently profitable. They're not always just a way to get around mintage limits. It's a specialised market with a specialised collector base, nabbing certain coin expo privys every year for example is a sure way to make money.
Flipping gimmicks can on rare occasion be profitable. I'm definitely not into rewarding mints for offering a gimmick and that's why I would never buy a privy coin....I don't buy crap. There can be a specialized market for dog feces too....doesn't mean the buyers aren't buying crap. .
I like them on Maples as other than privy marks there's little to distinguish them year to year, but mmissinglink is right that there are times the mark's been used to get around mintage limits. Anything aftermarket I'd avoid. Third-party modded bullion coins are out of control at the moment.
Yes, agreed. On the Canadian Maples it's different because the feature is micro-engraved and serves a valuable functional purpose: 1) security enhancement .
The only "privy marks" I would consider buying are ones that were done by main guy behind NORFED, Bernard Von NotHaus. When NORFED silver and coins were seized he start putting different "privy marks" on coins he was selling, e.g. handcuffs, his initials, etc. Although some would prefer to have "cleaner" coins this made some pieces even rarer.
I wonder if a forum of stamp collectors would have a similar thread on the benefits of first day covers and postmarks from particular stamp shows etc?
