Is it time to buy Canadian coins?

Bob1951

The exchange rate for the US dollar to the Canadian dollar is quite favorable for US collectors. I have just purchased several Canadian coins from Canadian dealers on Ebay at Canadian dollar prices which translates to a savings of about 25%. I find this quite a remarkable discount.



For example if you wanted to purchase this coin:

http://www.ebay.com/itm/291694...ame=STRK%3AMEBIDX%3AIT, it would only cost you $320 US but $425 Canadian. In addition it is a "make an offer coin" so you could get if for even less. I am taking advantage of this situation. What do you think?

Boosibri

Exchange rates always play into international markets. If the nominal price is static in local currency terms then absolutely the relative price for you is more attractive.

MrEureka

If you're talking about timing the market based on exchange rates, I presume that you are looking at this primarily as an investor. So it seems the question to ask is, do you think that the Canadian dollar is going to rise from here? And if so, why not just buy currency futures?

On the other hand, from a collector's perspective, I would think that a 25% discount should not change your collecting direction.

Bob1951

No, I have never looked at coin collecting as an investor. An investor I am not. Every time I tried investing I got clobbered. Every time I tried collecting I did better.



The 25% discount does not change my collecting direction at all. It is just that some of the coins that I need are available at a more reasonable cost. Perhaps I should have said that if you can buy your coins from Canada, (this meaning any coins that they may be selling in Canadian dollars - not just Canadian coins-but any world coins including US coins or anything at all for that matter) in Canadian funds, why not try to find them while the situation is quite favorable? While some sellers know this and want US funds, some do not.

bronco2078

If you are investing don't forget the exchange rate comes into play when you sell too.

Currency conversion fees come into play also

Nap

No harm in taking advantage of a favorable exchange market, certainly from a collector's perspective

brg5658

A great many Canada-based sellers price their coins in $USD, so the prices are constant on ebay.com and vary based on the exchange rates for Canada-based buyers. This is particularly true of a lot of PCGS/NGC slabbed material, as I think most of the bigger sellers realize that the market for those coins is largely in the US.