While most people interested in coin collecting understand the definition and value of mintage, those just getting their feet wet may be unfamiliar with the industry’s terms and jargon. A coin’s mintage can make or break its value, and this value may determine whether the collector will want it — and possibly how many collectors may be competing to acquire it. Let’s take a closer look at mintage to understand why coin collectors are so interested in this numerical aspect of the collection process.
What Is Mintage?
Mintage, simply put, refers to the number of coins produced. We all understand that common coins that we use in everyday transactions are mass-produced, but you may have heard of rare, antique, or limited-edition issues of a specific coin hitting the market for a smaller amount of time.
1. Low Mintage
Collectors most often look for Canadian coins that have a low mintage number. If there are only 10 coins produced, their value is immediately driven up. This number, however, does not tell you how many of these coins still exist: A coin can be low mintage at 100 coins produced, but another coin that began as high mintage may exist in dwindling numbers today, which makes it more valuable.
2. High Mintage
Many factors go into whether a coin is valuable, and being high mintage is not necessarily bad. Modern coins can be produced with a low mintage and retain a high value, and higher mintage vintage coins like the 1909 V.D.B. Lincoln cent may be easier to find and boast a lower value than modern coins with a lower mintage. For example, there were 753,942,953 Canadian pennies minted in 1979. Even one in quite good condition from your old penny jar is worth only a few cents now, mostly due to the value of the copper.
One that’s never been in circulation (so you won’t find it in your penny jar) sells for 75 cents at Colonial Acres. But what if you have one that’s professionally certified to be in Mint State 66 condition? That sells for $48.00 at Colonial. The coin’s extreme quality and professional evaluation give it a value 1,200 times that of the best one in your penny jar, even though over a quarter-billion were made. And a certified MS-67 might go for a few times more than that again.
Why Do Collectors Get So Excited About Coin Mintage?
The answer here is exclusivity: If you are a member of a club that only lets in a certain amount of people, or, in this case, if you have managed to get your hands on an extremely rare coin you feel part of something special. If you can purchase a coin with low mintage, you possess a treasure in a world saturated with copies of originals.
This benefit includes more than boasting rights: these coins can be extremely valuable, and they can be passed down to family members as heirlooms. If you give your son or daughter a rare coin for a birthday or wedding present, it makes your commemoration of the occasion that much more memorable! Many people treasure this type of gift given by a family member as it has special value monetarily and emotionally.
As you can undoubtedly imagine, if a collector can acquire an extremely rare coin, they feel a great deal of pride and competency in their status as a coin collector. A collector may have many high mintage coins, but those who manage to find and purchase even a couple of low mintage coins may feel a certain spark of excitement at the thought of seeing these coins — and also at the idea of acquiring even more. In this way, collecting can be thought of as a sport as well as a hobby: Collectors often compete vigorously for coins as they engage in auctions and sales to snag their favourites.
Contact Us For More Information
If you are not a collector, but you have one in your life, you likely have a better idea now as to why mintage means so much to him or her. If you are a collector, check out our catalogue to find the right accessories for maintaining and storing your rare coins, and the coins that will complete and elevate your personal collection. If you have questions about the hobby, reach out and speak to one of our friendly representatives today.