She found out her coins WERE worthless ... pitfalls of coin collecting
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- Опубліковано 8 чер 2024
- Not all Coins are Valuable! 🇦🇺 I have been collecting coins for several years now and while I dun know everything there is to know about this hobby, I am fortunate to have the support of the community. The sharing of information via videos uploaded by the many content creators have broaden my horizon and knowledge. There are also numerous free resources available online which I have relied upon heavily when creating content for this channel. Finally I can count upon the knowledge and experience of many local coin dealers and collectors here, all of who have been generous with their sharing and support.
That being said, there are many out there who have gone into this hobby without the proper tools or knowledge. This is unfortunate as its very easy to make mistakes with our collecting choices, as many of you out there know. In this video, I will share with you the story of a collector looking to sell her collection she thought was worth a lot more than what it actually was. You can imagine how shattered she was when she learnt the truth.
Fortunately we were able to help her out with her collection of Australian coins. These are nearly impossible to exchange for Singapore monies as money changers here rarely accept foreign coins for transaction. Coin dealers will not take these circulating coins as they have no way of recouping their monies. However as the lady had walked into China Jia Long coin store, the owner (and my friend) agreed to take them off her hand as he knew I could return them to Australia on my next trips there.
So for this video we are going to go thru the coins that are in the album. I am gonna show you what are the coins I'm gonna keep and share with you a little bit of the story with the lady and China Jia Long. I hope you will enjoy that. My thanks to all for taking the time to watch and support this channel. You have my love respect and friendship. Peace and blessings to all! 🥰
CHAPTER TIMESTAMPS
0:00 Intro
1:55 Story Unfolds
3:41 Coin Album
7:52 Keepers
9:34 Outro
10:17 Final Look
FURTHER INFORMATION & LINKS
* Below is the contact details for China JiaLong Trading. If you're here in Singapore or if you're planning to visit the city, do pop by and tell the owner I sent you!
China Jia Long Trading
1 North Bridge Road
#B1-61 High Street Centre
Singapore 179094
Phone: +65 9663 1156
Facebook: / cjl8896
* Background music from UA-cam Audio Library:
* Crazy by Patrick Patrikios
* Know Nyself by Patrick Patrikios
* Boardwalk by TrackTribe - Розваги
We have the same issue here in the UK with people collecting all the various series the Mint releases thinking they are going to be valuable some day. One of my friends inherited his dads coin collection and asked me to look at it. Not a single silver coin in amongst them. Just modern commemorative cupro nickel proofs that you'd struggle to even get face value for.
Oh dear, that must not be a very good day for your friend after your appraisal of his collection. Certainly manybout there who are paying too much for their collection.
I think we make the same mistakes. But at least we are well informed and would have the right expectations of the values should we decide to sell them on.
Cheers buddy and appreciate you stopping by the channel. Have a blessed Sunday ✌🏻😊
I showed my wife the difference between my good stuff and my fun stuff. If something should happen. 👍
@@noicue8078 yes! always good to ensure your collections are properly catalogued and tagged for your loved ones, in case something unforeseen happens. Cheers and thanks for sharing ✌🏻😊
Why would someone struggle to get face value ? Just take to the bank
@@kaynefryday1251 thats true, looking from that perspective. Cheers Kayne ✌🏻😊
This is quite a sad story. Thank you for being such a good person by not only taking it off her hands for her, but also returning it to circulation. Great video as always 😊
You welcome FT. Glad you liked the story. The owner took in more than necessary and I know he’ll have trouble selling some of them. So much respect to him for helping the lady out too 🫡 Cheers and have a blessed Sunday ✌🏻😊
@@send2georgie_S2G2 weeks old and already your most viewed video! Congrats S2G!
@@FlightTactics yes! yes! Probably my best performing video to date. Thanks to all of you. Cheers FT 😂👍🏻
Very kind of you to buy the coins from the lady. At least she got some money for the collection. It is good that you could use those few coins for your collection. The ship on the 1977 endeavour coin from NZ is beautiful. Thanks for the story and example that one also need knowledge to be a numismatist, S2G.
Wow what a wonderful comment Charnie, thanks for sharing. Glad you liked the story and it was awesome things turned out ok for all involved.
I do enjoy the NZ Endeavour coins, not least being the beautiful ship design. The 1977 was not in the best of condition but being out of circulation, didn’t feel right to just throw it back into circulation. There were 3 old NZ coins in the album and I will be keeping them aside for now. Cheers and happy collecting 😊✌🏻
S2G, you are quite the traveling man 😎
From Singapore 🇸🇬 to Australia 🇦🇺 to America 🇺🇸
I really like the variety and all the different designs that collecting coins from around the world brings.
Cheers 🍾 🍾 my friend 👍
Thanks BA. Appreciate your wonderful comment and support for the channel. Cheers and have a blessed Sunday ✌🏻😊
When I first started stacking, I had this worry. That's very sad.
I think you are doing well CS, certainly your stack is a lot better than what this lady brought in. And we do have great support from the community, especially information on what to stack and collect. As long as you stack what you like and dun overpay, no need to worry buddy. Cheers and have a blessed Sunday 😊✌🏻
Glad you were able to help her out Georgie. #kindness
Yes StG, my little good deed for the day. Much respect to the owner of China JiaLong too. He certainly took in more than what he could reasonably sell 🫡✌🏻
The vast majority of coins are completely worthless..
People aren't spending money on coins currently, I see collectors only paying $1-$20 for graded coins rigjt now..
The whole coin collecting system is based on grading with only 3 graders being deemed worthy of collectors collections, it doesn't matter what you have if it's not graded by one of the 3 it's completely worthless and from what I'm seeing with the market people are losing money having coins graded and then selling them.. Coin grading can cost $50-$150 and if actual graded coins are only selling for under $20 it's a loss... A coin is only worth what someone is willing to pay for it, and right now that's not much...
Hiya AZ. Thanks for watching and sharing your thoughtful comment. Unfortunately you’re right about expectations of returns when it comes to coin collecting.
There are people out there who collects because they think the coins are rare and worth something. Unfortunately most of the time (like the case in this video), the coins are not…
There are many also who collects as a hobby. They extract enjoyment from hunting the coins down, a sense of accomplishment when completing a set/series. These are the people who keep the hobby alive.
Speculators and profiteering are everywhere, be it coins, stamps, banknotes, pokemon etc Best not be caught up in the hype, and you’ll be ok. Cheers AZ and happy collecting ✌🏻😊
Check for errors. I found 2 of my 20cents 1966 with 3 left paws platypus. Worth around $50 each.
Thanks for the tips David. I did a cursory check. Unfortunate didn’t see anything of interest. No cuds, double bars etc. The coins are all packed up and will be going back Australia on my next trip. Cheers and have a blessed Sunday 😊✌🏻
I am 61 and I collected coins since childhood in the US. I never paid for them just what I would find in circulation, etc. I have coins from the middle east, central America, Europe, Canada, Mexico, etc. I still enjoy the hobby. In 2016 I finally started buying strictly silver bullion coins from around the world.
Hiya Jesse. Thanks for watching and sharing your wonderful coin collecting journey. You must have traveled the world to find all those coins in circulation. Like you said, it’s an amazing hobby, and a wonderful community. Cheers and happy stacking 😊✌🏻
Pennies are cool. And yep from time time silver in pocket change.
@@user-jr7xk7ox4o thanks for replying to this tread Phillip. Cheers 😊✌🏻
@@send2georgie_S2G thanks for the love.i kid you not I found a 1964 dime a war nickel and a wheat penny just today hahaha.... Keep up the encouragement.and God bless you and yours.
if she ever holidays in Australia, she can always use them in a vending machine for a soda or a pack of chips
Well the coins are all packed up and will be going back so maybe I will be the one having a soda and a pack of chips LOL 😂 Cheers dzer22000 and have a blessed Sunday 😊✌🏻
Not Soda, We're Not In America, It's, "Soft Drink", We Are Gradually Losing Our Aussie Vernacular, Because Of This, Also, Lollies, Not Candy😢
@@user-ee7fi7pv5t thanks for sharing James! 😊✌🏻
Such a nice gesture to have purchased the collection. It’s good that you travel frequently and can spend the Australian coins that you don’t want to keep. That 1983 half dollar? was beautiful. Congrats on doing a good deed and on the additions to your collection.
Hiya coinsense. Thanks for the wonderful comment. I guess I was there at the right time and the right place. We must do what we can to support the coin collecting community. And I’m thankful I can play a small part in this.
The owner at China JiaLong realy took in more than he could reasonably sell. Very nice of this to help the lady out. Respect 🫡 ✌🏻
New sub from New York!
Thank you for the subscription Glen. Appreciate the support for the channel, welcome to this community. Cheers and happy stacking 😊✌🏻
Hope the collection brought her joy. Thank you for helping her out.
No worries Bob. In the end, it worked out ok for all involved. I got the coins packed up and will be bringing them back to Australia on my next trip. Thanks for stopping by and do have a blessed Sunday 😊✌🏻
Thanks for sharing your Australian coins 396
No worries SCV. Thought it would make an interesting share. Glad you stopped by and appreciate the support to the channel. Cheers ✌🏻😊
The album also looks and sounds like it's PVC when flipping the pages.
Well spotted Freddy. These are cheap Chinese made PVC albums I got locally here. Only use them for common circulating coins and they seem to work well. Not for valuable collector coins for sure. Appreciate you watching and commenting. Cheers and happy stacking 😊✌🏻
I bought 2 fakes this week at auction (morgons)
And I should have known ... but I trusted tge auctioneer
Oh dear, sorry to hear that FF. Is there any recourse for you to return the fakes to the auction house? We would like to know. Cheers and best wishes ✌🏻😊
I will go talk to the lady. She might say all sales final.
Anyway it's a small price for valuable lesson
@@FCP2 thanks for sharing ✌🏻😊
Some great people in the coin and bullion community and your definitely on that list S2G 🙏🏼 great video on Aussie coins mate 😬 think your 1966 ~ 20 cent was a wave gap 💪🏼 check it out mate 😬🙏🏼💪🏼CCC
Awww too kind CCC, too kind. In reality, I’m just an ordinary guy talking behind the camera. Its all of you that makes this channel where it is today.
Dunno anything about wave gap. I will need to research that and take a second look at the coin (if I still have it!) Cheers buddy and happy stacking ✌🏻😊
Current currency collections are beautiful, but are not of great value. Except for low mintage and rare varieties.
This lady was still lucky enough to come across you and your kindness.
Hiya NC. We did our best with what little of value the lady brought in. Tbh the owner took in more than what he could reasonably sell so much respect to him 🫡
It’s true there are many coins out there which have little value. Still, coin collecting is not all about money. Cheers buddy and have a blessed Sunday ✌🏻😊
A true act of kindness S2G, it is sad fact that the majority of circulating coins are only worth face value, nevertheless it is an interesting & satisfying hobby collecting such a variety of different coins, as long as you have been schooled in the world of numismatics & not been led down the garden path thinking that you are sitting on a fortune, unfortunately many novice collectors have been misinformed or duped, it was very fortunate for this elderly lady that you happened to be there to offer her solace & money for these coins for return to circulation in Australia, cool that you picked up a few non de script coins for your collection, please let me know which 2001 50c Federation coins you are missing & I will happily gift them to you, they are becoming harder to find these days. Cheers Peter J 😂👋🙏✌🇦🇺 🐨🦘👍
Certainly true Peter. I come across many people who collects for the sake of keeping whet they think is valuable and not on what actually is. I seen many come to the coin stores asking for ludicrous amounts of money only to be told their collection is worth a fraction of that.
I think we are lucky to be part of this community. The information shared vertically steer us in the right direction for collecting and stacking. While not everything we collect is valuable, at least we can take heart we have something that’s worth keeping.
It was great to be back at China JiaLong. The owner too in more than necessary from the lady and I know he will have trouble reselling many of them. So very kind of him to help the lady out. Respect 🫡 ✌🏻
I've seen a lot of elderly people bring in common half dollar and dollar coins to stacks and brigandi only to be told to spend them cause their only worth face value. I've also seen people bring in junk silver coins. I do feel sorry for the people who really could use the money and find out they only have face value coins.
@@StackThatGoldYes a very sad fact STG, I've seen several stories like this over the years 😞
when i was a little kid i saw a 10$ holographic coin with the statue of liberty on it being advertised on tv for 19.99$ i believe. i thought it was worth something but its worthless. i still have it as an adult.
Hiya Jane. Thanks for watching and sharing your coin collecting experience. Coin collecting is not always about getting the most valuable coins. For me, enjoyment of the hobby is gonna be the main reason for doing this in the first place. I believe you enjoyed having that coin in your collection too. Cheers and happy collecting 😊✌🏻
That was very kind of you to buy them! That poor lady must have been devastated. Worse still, the friends and family giving her false info/hope. Good to see you are just going to put them back into circulation. Thanks for sharing S2G. What NZ coins were you interested in? 😺
Yes, she was telling us how valuable some of her collection was. Unfortunately when we looked at them, there really wasn’t much.
There were some Singapore and Malaysian silver coins that the owner could resell. And perhaps one or two older banknotes. Nothing much else.
China JiaLong really didn’t have to buy her collection but he tried his best and took more than he could probably resell. Very kind owner. Respect 🫡 ✌🏻
I was collecting the NZ 50c but my collection of almost complete now. I’m just missing some of the errors and varieties. Those are rare so will involve some hunting, which is the fun part of coin collecting. Appreciate you asking Kim and do have a fabulous weekend 😊✌🏻
sounds about right with any collection. the LCS wants to buy it low so he can make a profit
Hiya SC. Thanks for watching and commenting. Tbh China JiaLong actually took in more than they could reasonably sell, guess the owner wanted to help the elderly lady out. Much respect to him for doing so. Cheers buddy and have a blessed Sunday ✌🏻😊
You did a good thing and found a few nice coins for yourself.
Great job sir!
Thanks homestead. Always good to do a deed for someone else. You’ll never know when you get one back in return. Cheers buddy and have a blessed Sunday ✌🏻😊
99.9999999 % of Australian circulating coins really are a waste of time to collect , like all things if you want things worth having you have to pay up for them at the start . At least silver coins have intrinsic value .
Yeah always better to collect coins with intrinsic PM value in them. Still it’s fun to hunt for circulating coins. Cheers Kayne and thanks for stopping by the video ✌🏻😊
Thanks for the story George. Happy Stackin eh!
You welcome Seeker. Thanks for stopping by the video. Cheers and have a fabulous weekend ✌🏻😊
Even my duplicate Philippine coins in my collection did not sell by any collectors out there as they already have it, except on some novice collectors. Since 2022, I do not collect any duplicate coins by years or types again except changing conditions. If I got the album like this, I would pick the ones that I do not have in my collection.
Hiya cyrus. Looks like you have your collection well organized and have a good idea on what you should collect. Certainly many out there have very little idea on coin collecting. Thanks for stopping by the channel and have a blessed Sunday. Cheers ✌🏻😊
Yeah kind of you to buy them. I also took back some Australian coins from my coin dealer from Malaysia to put them back into circulation. Not worth above face value and hard to get rid off as no one interested in them ha ha.
Hiya Chris. Thanks for watching and commenting. Awesome you have such a relationship with your coin dealer.
China JiaLong really didn’t have to buy the lady’s collection but the owner took in more than he could probably sell. He was hesitant with this album (as you said these coins are hard to get sell and money changers dun wan them), but he took it off her hand as I was there to immediately take off his hands LOL 😂
I packed the coins away and will be bringing them back on my next trip. I dun have a bank account so hopefully the hotel will take time! Cheers Chris and have a wonderful weekend 😊✌🏻
This lady was very lucky ti run inti u S2G and your LCS. Sounds like u both are stand up guys. Getting harder and harder to find that in todays world. Job well done and very happy u got a few coins for your collection. A win for everyone. TY for sharing not only the coins but this good story.
That’s very kind of you AGAU. Tbh the owner took in more than he could reasonably sell so that was really kind of him. Much respect and really the main reason why I enjoy visiting this LCS. Cheers buddy and have a fabulous weekend ✌🏻😊
@@send2georgie_S2G sounds like both of u really helped this lady out. Need more of this in our world today. Kudos to the both of u putting good karma out there and doing the right thing👍
@@AGAUaddict thanks buddy, what goes around comes around 😊✌🏻
It was good of you to save the lady's day by agreeing to pay her a slight premium - no one else would have saved her bacon. Nice video.
Hiya familysilver. Thanks for watching and sharing your wonderful comment. This album was just one of the few she was selling to China JiaLong. At least she didn’t have to bring it back and the coins will be going back to Australia. Happy ending for all! Cheers and have a blessed Sunday ✌🏻😊
Obvious worthless coins, but even worse, they're kept in Plastic! The gloves are not needed!
LOL I got ugly hands 😂😂
This is why I do not collect
Hiya Vulcan. Thanks for watching and sharing your opinion. Cheers and have a great week ahead ✌🏻😊
@@send2georgie_S2G It just collecting is so dangerous with counterfeits, plus coin collecting seems to be a shrinking population. The last four four coins shows that I have been to resemble a all male AARP Caucasian meeting. There are less dealers, buyers and usually no deals as everyone seems to charge high retail. When I was going up people collected coins and stamps, now I do not anyone who does collect stamps. Part of the problem is when the 2008 financial collapse happened, people dumped all their collectable item onto the market looking for cash. Norman Rockwell plates, beanie babies, Lladros, Dept 56 Christmas houses, action figures etc. Once people realized how much of this stuff was available the price came down. If you factor out inflation I am not sure if the value every recovered.
You should collect 1 ounce gold coins.
Agree Hugo, that would be the way to preserve my wealth. Unfortunately I still working on the latter… LOL 😂 Cheers and thanks for stopping by ✌🏻😊
Tighten your belt, with all those coins in your pocket 🤣🤣. I feel sorry for the lady😱.
You’re a gentleman, Georgie 👌
Awww thanks Jamie. It was fortunate for her I was there at store. All the coins are now packed away and I will be bringing them to Australia on my next trip.
And you’re absolutely right, they are heavy! LOL 😂 Cheers and have a blessed Sunday ✌🏻😊
That was unfortunate for the lady but nice of you to buy the coins but you have some nice condition coins for your own collection the 2001 state coins are hard to find in Australia cheers mate. 👍🇦🇺👊
We do what we can to help the coin collecting community. Honestly the owner could have just picked out what was of value. In the end, he chose to buy off her more than he could sell.
He only took the album cause I was there. I told him the only coins worth anything were the State coins, but I would bring the rest back. That gave the lady a little more extra cash. Heartbreaking we couldn’t do more 😢
Why is it sad? They bought coins that were in circulation. Paid face and that's what it is worth.
Hiya Robert. Thanks for watching and commenting. It was sad story as the lady expected more from her collection than put forth by her friends and families. However in the end, she did get some value out of these coins. They are mostly back in Australia now, back in circulation. Cheers Robert and thanks for stopping by the channel 😊✌🏻
👍👍👍👍👌
Thanks for stopping by Janis. Cheers and have a blessed Sunday ✌🏻😊
Always do your homework 😂
Agree Robert! Thanks for watching and commenting. Glad you liked the presentation. Cheers and happy stacking 😊✌🏻
That's to bad she was told they were valuable 👊👍
Yeah, happens more often than you think. I know of a few who have been told the same. Seems there are a lot of ‘would-be experts’ out there LOL 😂
Thats the great thing about this community. The amount of sharing and support given is amazing, and is a great help to many out there.
So give yourself a pat on the back wager, you are doing a good thing on YT! 👍🏻👍🏻😊✌🏻
y would that lady think that pocket change is valuable, shes a dope
It happens more often than not. Not an issue until one choose to sell their collection. Good thing for this everything turns out ok for everyone. Cheers and have a blessed Sunday 😊✌🏻
Not worthless still has face value
Agree, sorry for using that word in the video. Unfortunately nobody wants these coins here and no money changers will accept them, so the only way to spend them is in Australia. I got them all packed up with all my other Australian coins. Hopefully I can bring them back one day soon. Cheers Adam and have a blessed Sunday ✌🏻😊
junk like came from littleton coin company
True Connard, always be wary of third party collection. Cheers and thanks for stopping by the channel 😊✌🏻
@@send2georgie_S2G why did you call me an 'asshole' , pardon my french .
Why would ordinary circulation coins be valuable? If they were valuable - coins collectors would have removed them - only gold or silver coins and a relatively few RARE circulation coins have value- unreal expectations and ill informed opinions by non collectors get people excited- do your research first
Hiya Peter. Thanks for watching and sharing your thoughts. I’m no expert and can only share what I know about these Australian coins. They are ordinary circulating coins worth only their face value. Collecting these type of coins should be regarded as a hobby rather than accumulation of wealth.
That said, many have gotten into numismatics with little knowledge and have unrealistic expectations on the values of their coins. Learning the truth about their collection can be a windfall. Most times, like for the aforementioned lady, it’s usually a disappointment. Cheers Peter ✌🏻😊
was that your wife----lmao
No buddy. Cute emojis. Thanks for stopping by 😊✌🏻