Rare Canadian cent

[GrumpyEd]

Interesting, something to for in the Canadian cents:

https://www.cbc.ca/news/canada/hamilton/talk/paul-wilson-ed-checks-his-penny-jar-and-finds-300-000-1.1380742

[makecents]

That's very cool!! It's nice to see someone doing due diligence getting paid for it!

[Sheila ruley]

That Is awesome!

[GrumpyEd]

The one thing they fully ignored is that if someone finds a bunch (hundreds) of a modern rarity in high grade (of something where few existed) then you can't price them at the existing price, you just flooded the market and killed the value. LOL!

If you look at modern variety coins they have a pretty repeatable price curve, they shoot up to a huge price then drop as more get found then the prices bounce for years and very slowly settle to some range.

If you find a bunch of something rare while it is in it's heyday, be quiet about it. Keep a few gems. Sell a few of the nice ones at top prices then sell a few of the best ones. That way the big money buyers buy the first batch, then they upgrade to the next batch of better ones. By then the market is getting saturated. Either slowly sell the rest or unload them all fast before the price drops to the bottom. The worst thing to do is get in the news saying you found hundreds of them

[Roller]

Thanks a lot Ed. Now I need to go through all my Canada set asides. LOL. So I did hit my present put aside lot and just by cursory exam. I found two zinc 2006s without the P or the leaf. What I can't make out from the article is whether the copper makes these coins "rare". Since both copper and zinc were made, I would assume it is the missing logo. So mine are even more rare?

[Roller]

Meant "copper coated steel" not copper.

[Roller]

OK. Did a little research and found that my non magnetic plains are worth a cent (if that much). The steel copper plain and the steel copper P are rare. I'll have to look at the ton of other Canadas I have.

[willbrooks]

All I will say is that I would have handled this find a lot differently.

[GrumpyEd]

I've always thought something like this could happen with 92 CLAMs. If one person had a hot original $50 bag with 10% from a clam die then there would 500 uncs to saturate the market. Or even someone with a few hot rolls, but if anyone was that lucky with the clams they must have kept quiet because we only hear about singles in circ mixed rolls.

[jfines69]

Cool find... Thanks for the read!!!