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Anyone collect / invest in Aus pre-decimal coins and early dec banknotes?

Discussion in 'Living Room' started by chindonly, 5th Aug, 2016.

  1. chindonly

    chindonly Well-Known Member

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    Been passed on a collection from my dad. A real mixed bag, needed a lot of sorting and work.

    Interested in the advice of others re storing, grading, the best forums and where to buy.

    Keen for some swaps also if people are up for it - have multiples of many (varying grades) and quite a few gaps to fill.

    I am a real newbie so keen to learn.
     
  2. Bran

    Bran Well-Known Member

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    I uncovered a tin of stuff from my Grandfather a couple of months ago- given to me as a child. I sat on ebay one day and searched all the coins. Sadly, even the exciting ones were only worth about 5-15 bucks on ebay. Not sure what to do with them really, Ill pass them onto my kids I think.
     
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  3. Blueskies

    Blueskies Well-Known Member

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    Sort of related, heard about this guy a while ago, US hedge fund manager, bought $1m in nickels. Risk free investment, as US currency it will always be valued at minimum $1m, but the value of the metal in the coins has regularly been above 5c: The Nickel-Hoarding Billionaire
     
  4. Barny

    Barny Well-Known Member

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    Haven't been in the game for many years now, pre decimal notes was my first investment ever, and lasted 6 months. Then moved onto property.
    One thing I learnt straight up was grading, everyone grades differently and can majorly effect your sale price, even if you have just purchased a high grading note. The next buyer can grade it differently.
    Stick to the major graders, jump on forums, Google etc, they will show who are the best graders to purchase or sell too. Others in the game will try and down grade your notes when selling to purchase at a lower cost.
    Storage folders can be purchased. Don't bend the notes, fold, touch with be greasy hands as every mark or crease will downgrade the note and price.
     
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  5. chindonly

    chindonly Well-Known Member

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    I heard of someone doing something similar with copper via pennies.
     
  6. Marg4000

    Marg4000 Well-Known Member

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    Same reason the original round 50c coins were discontinued. The value of the silver content was well above the face value of the coin.
    Marg
     
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  7. chindonly

    chindonly Well-Known Member

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    Yep - I have quite a few of the 1966 round 50c
     
  8. Redwing

    Redwing Well-Known Member

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    In a similar boat to some above, have a small collection passed down from my grandfather, then a large assortment of notes and coins I picked up, found, or was given, from various sources over the years which now results in a reasonable sized collection

    The issue is now what to do with them ; No idea of value either and the thought of spending weeks ascertaining value, cataloging or paying for valuations doesn't enthrall me...maybe a retirement activity :D