‘Nothing shines quite like my Newfoundland collection’
Why pre-Confederation stamps and coins from Newfoundland hold significant value in today's market
ST. JOHN'S - As an independent dominion before joining Canada in 1949, Newfoundland had its own paper money, coins and stamps.
Today, these items are hard to come by and are considered rare. They also have significant value in the market, says Rod O'Driscoll, owner of East Coast Coins in St. John's.
A 50-cent Newfoundland coin from 1874, known as Victoria Specimen, sold at a U.S. auction for $60,000 in 2023.
"It's more about quality than anything else," said O'Driscoll. "The condition is a big factor as well."
AGE ISN'T FACTOR
O'Driscoll says that when it comes to determining the value of coins and stamps, age is the least important element.
"With any collectible, obviously, there is rarity — how many were made and how well it's held up," he said.
"Basically, supply and demand dictates the price."
O'Driscoll said what drives up the price is the availability of coins and the desire of collectors to get them.
Outside of rarity, there is a grading system to better determine the value of a coin.
O'Driscoll said there is a 70point scale: 60 is considered mint and anything above 68 is a different quality of mint.
"A low-grade Newfoundland half dollar, I could sell for $12. Bring in that same coin in mint condition and I can sell it for $2,000," he said.
FINDING THE ITEMS
There are two big challenges collectors face.
"The biggest one is counterfeits, people online pretending they're experts to sell these coins for big bucks," said O'Driscoll.
In this case, the only solution is to find graders you can trust when purchasing these items, he added.
The other challenge is finding these artifacts.
"If you are looking to get any of these types of items, especially in mint condition, it requires a huge level of patience," he said.
While social media can enable fraud, it has also transformed the market, O'Driscoll said, bringing new people in and making rare items accessible. "Things that used to be rare are now readily available, and common items now have a much bigger collector base because of how many people
are picking up the hobby."
'MAINTAINING AND CARRYING FORWARD'
Bradley Reid of St. John's picked up the hobby 10 years ago after his mother handed her collection down to him.
Reid's interest in collecting coins grew as he began to recognize the history behind each coin.
"For me, there is a lot of significance in terms of where the coins came from, the time that they represent in our history, and being able to maintain and carry that forward is special," he said.
While he has been collecting for a decade, Reid's collection includes only 12 Newfoundland coins, although he is actively searching for more through online groups.
Reid says it isn't about the amount he has or how much it's worth, but about keeping tradition and history alive.
"Someday I hope to pass it down to one of my kids or grandchildren to teach them
where we came from. That would be my ultimate goal."
'SHOWING WHAT NEWFOUNDLAND WAS'
Guy Dupuis of Botwood has been collecting Newfoundland stamps since the 2000s. What sparked his interest initially was finding one of those stamps in an old desk.
What's kept him interested in the hobby, he said, are the stories depicted on each stamp.
"In the beginning, they were mostly just pictures of flowers," said Dupuis.
"As the years went on, they started to depict the lifestyle of Newfoundlanders –– the logging, the fisheries, the icebergs, the fields, all of these things show what Newfoundland was."
'MY COLLECTION SHINES'
Dupuis has thousands of stamps in his collection. Some of them are duplicates, but others, he said, are worth $800. He uses album binders with plastic shields to preserve and store his stamps.
"I keep them in the best condition possible. These artifacts are preserving and commemorating our heritage," he said.
Dupuis also collects stamps from other countries, but it's the Newfoundland artifacts that excite him most.
"Nothing shines quite like my Newfoundland collection. I am very proud of it," he said.