Just a really quick question here, the 2011 silver kangaroo 1oz coins come attached to a cardboard backing with information on it. See picture: http://forums.silverstackers.com/uploads/1282_1oz_kangaroo_ram_resize.jpg I hate the cardboard because i like to literally stack my coins LOL and i think it makes them look tacky. Would it be unwise of me to remove the coins from the cardboard backing for liquidity reasons? Do people really care about the piece of paper saying Australian mint on it?
Sad to say but yes, they do. It's called Packyboxitis. I was selling $4 coins for $12 because the packet they came in had an aftermarket overprint from a coin fair on it! And there were no shortage of bidders either. If you are selling to a smelter or a stacker they probably won't care. If you are selling to a numismatist, and someone else is also offering the same coin with packaging, who do you think will make the sale? You might not get full asking or catalogue value if the item is perceived as damaged.
Ahhh that's really lame... alright i guess i'll keep the packaging attached, thanks for replying guys
Seems extreme considering that the kooks and koalas don't have that cardboard attached, they're pretty much the same thing really without that cardboard, damm finicky people!!
These are uncirculated and not Proofs. If I recall you probably purchased these somewhere from $45 - $55 considering the price of the last week or two it was pretty much bullion value. The small premium you paid will be eaten up in the end anyway when/if Silver goes up above the $70 - $100 point. So you recovered your money, still made a profit and consolidated your stack into something you like. The other issue is the more of these you destroy the less that are out there and this in time will push up some numismatic value. I know a person on here who always gets rid of packaging, I would not say this for everything but in this case your preference your Silver. The only thing that could backfire is IF this series gets a strong demand happening and yours will not hold the premium the others will. If I purchased near bullion I really wouldn't be to fussed, but on the other hand I am pretty interested in Numismatics and have a hard time with the concept of getting rid of boxes and packaging.
Would you be able to explain the difference a little more between uncirculated and proof coins? I didn't realise there was such a discrepancy in their values. So kangaroos or uncirculated are less valuable in general?
Without going too much into it, there are a few general ways coins are minted. The top level is a Proof and the dies they use have been specially prepared and highly polished, the dies are struck several times normally 3-5 to get a clean and detailed image on the coin. The usually have a mirror like finish on the flats of the coins. They also use special blanks. Uncirculated are similar except there is not as much work put into the dies, they normally have a frosted finish with modern day numismatics and are punched 1-3 times General coinage, the dies are produced for mass coinage and they go through the dies quickly and are punched once or twice max. These dies can wear out or crack after extended periods of use. The term Uncirculated applied to older coinage and even modern general coinage is usually coins that still maintain all or most of their original detail and have minimal or no handling. While it should be noted that this is open for some interpretation, especially when grading circulated coinage. It can get confusing but in your instance the proofs are quite a bit more in value, due to production costs and the way they are packaged. You will not normally find a proof in cardboard packaging, they are normally boxed. Google will give you a lot more detail if you wish to research further, but that is the general idea.
I like things 'tidy' and all those tacky old bits of 30 year old cardboard and cheap coin boxes are anathema to me - and they sometimes smell! I'd have everything in those clear coin capsules if I could. So what sort of premium loss will throwing away the rubbish cost? and does it apply the same with all the mint products - gold and silver? After all they're just a coin capsule inside a cheap box mostly - and a generic one often.
So the distinction is based upon the look of the coin - i'm surprised that makes such a difference when the silver content within is still the same.
Hi, did not read complete threat but i do following - buy only carded roos - remove coins out of capsule and store in other exact working caps ( be sure to use very good caps, exact diameter and exact good closing ) - store coin in vault - store coincards outside vault If i decide to sell - put back into coincard - offer original as it comes from mint Maybe think cracy guy, but it is a german one Cheers ninteno
Umm...why are you guys buying packaged products of you don't like the packaging? There are plenty of non-packaged coins to buy if you don't want bits of cardboard clogging up your life.
I sold a carded Kangaroo for $62 to someone in the Netherlands, when Kooks and Eagles were selling for $47 or less. I got rid of it because I didn't like the card either. I didn't expect such a high price, but then, I'm not a numismatist!
