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 Replies: 85 / Views: 5,733 |
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Pillar of the Community
United States
604 Posts |
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Valued Member
United States
470 Posts |
"parents says coins are a hobby not a investment" The parents are absolutely right. Coins are a hobby and any return (increase in value) on the enjoyment that collecting brings you is an added surprise. This Reverse Proof Gold Eagle is not a coin; it's bullion. It's only worth a few dollars over spot just like the normal gold eagle. What makes it so desired is that the mint decided to make this coin in a special way and then release a very small amount of them. What you are witnessing is not coin collecting but more like Gold Fever. The hobby has exploded in the past 8 years and the most recent bandwagoneers are bullion collectors who often refer to themselves as coin collectors but personally, I don't feel they are really coin collectors at all. They are gold collectors. The beauty of coin collecting is going after the ones that are hard to get, rarity wise, not price wise. Learning all about how Morgans and Peace dollars were made and why they took Franklin off the 50 cent piece and how it took an act of Congress to do it. That is coin collecting at it's best. Having $2,610 dollars in the bank and logging on to a website before 100,000 other people get a chance to is not being a coin collector; it's being a gold collector and an opportunist. Not that there is anything wrong with that. I admit to being a gold collector who is trying hard to become a coin collector. Collect your coins for the enjoyment and the education and hopefully it will be worth more when you are 40 than it was when you were 13. |
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Bedrock of the Community
United States
14454 Posts |
I disagree, I bought mine to collect, not because of a investment or anything. I just like the coins themself. I did think because of the limited number and this year being different because of the Reverse proof made it that much more desirable to me. I collect Morgans only but I do have some silver eagles that I bought when silver was about 7.00 a ounce that turned out to be a wise investment but that was an investment to help fund my coin collecting. But saying someone that had 2k in the bank and logging into a website and buying coins isn't collecting is a false statement because people collect all different kind of coins, just because its a bullion coin doesn't have anything to do with a price of eggs, a coin is a coin no matter if it was made for circulation or not and Morgans and Peace dollars arent the only "coins" out there in the world, not even in the US. The definition of coin itself is any peice of metal with a denomination on it so even though these "coins" were never meant to exchange hands at face value, they are definately a coin, and if you collect them and the fact that they are coins you are a "coin collector" Edited by Bryan1315
08/31/2006 5:23 pm
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Valued Member
United States
470 Posts |
Obviously, there will be disagreement and I can only state my opinion or impression. Ofcourse, people collect gold eagles. People will collect just about anything. I collect gold eagles and I also think that they are a beautiful coin but they are exactly the same year after year. How boring is that? Oh grea,t another year another perfectly struck hunk of yellow metal ...yipee! It's not like I don't already have 18 more just like it but with different dates. There are no grading disputes ... there is no trading ... there is no mythical white whale out there ...well, until now. I find that I meet essentially two kinds of collectors mostly. Ones that collect, buy, hoard bullion (i.e the ASE & AGE program coins) and those they collect pennys, dimes, nickels, quarters and the like. The ones that collect the pennys, dimes, nickels, quarters and the like have a passion for numismatics that bullion collector don't have. Ok ..so you have all 20 silver eagles and all 20 gold eagles ..that's great and they are all or mostly MS69/70. Where is the wow in that. The WOW comes from finding that Merc that you've been looking for or searchng a roll of dimes from the bank and finding 3 silvers ones. To me ..that's what coin collecting is all about. So, Buff hunter ..you're 14. Love the hobby as a hobby and once you are in your 40's and can afford to use some of your disposable income, you decide what to buy. Do you buy the bullion? or do you buy that minty looking Buffalo nickle that would make the collection that you've been building for the past 26 years that much more prized? There is no right answer. People collect lots of stuff for different reasons. Collect cause you can and I hope that it brings you joy. |
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Valued Member
United States
155 Posts |
I didn't see the other topic this afternoon I thought they were all sold out not just the gold.  I feel better now hehe I could never have afforded the gold anyway. As for the wow in collecting I think it can come from anything Andrew, just because you don't see the wow in what another person enjoys doesn't mean they aren't just as excited or more excited by what they enjoy. Look at it this way... be glad the collectors that are looking for other things than you aren't grabbing up the coins you enjoy getting your hands on  |
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Bedrock of the Community
United States
14454 Posts |
quote:
Originally posted by Andrew289
Ofcourse, people collect gold eagles. People will collect just about anything. I collect gold eagles and I also think that they are a beautiful coin but they are exactly the same year after year. How boring is that? Oh grea,t another year another perfectly struck hunk of yellow metal ...yipee! It's not like I don't already have 18 more just like it but with different dates. There are no grading disputes ... there is no trading ... there is no mythical white whale out there ...well, until now.
With respect I would like to say, everyone has their own opinion on this as you have said, But EVERY Morgan dollar or Peace dollar or Every Other US Coin series for that matter has exactly the same design year after year until they were changed, so to say the ASE is boring because they are the same just doesn't hold water, if you have never seen a ERROR ASE/AGE then you haven't been collecting very long have you, We have a member here that has a rotated die Gold Buffalo (A Bullion Coin)Not a whole lot of rotation but rotated none the less so how is his coin the same as the next door neighbors Gold Buffalo? I am in no way trying to get into a argument with you over the subject I am just trying to shed a little light on both sides of the "coin". That being said I do agree that coin collecting should be a hobby but how many bullion ETF/Stocks have you seen where you can buy one silver ETF and sell it and pay for 4 AGE of each denomination and still have some change left over to buy a few Morgan VAM's? Well that is exactly what happened in 1995 with the 1995 ASE, one silver eagle in a set of Gold eagles paid for the whole set of gold eagles and left you with some pocket change to fund other collecting interests. Like most people know on here my passion is for Morgan VAM's, but I do not look down on the people that started collecting when the State Quarters came out and that's what they actively search for even though to me its just pocket change, but to them its their passion of collecting/hoarding. Someone that collects all denominations is a hoarder to me, because they will keep each coin they come across (my grandfather comes to mind, he has boxes and boxes of each denomination the US and just about every other Government has ever released, sure some are worth more than face value now, but most are just pocket change worth bullion instead of face value like the pre-82 cents) someone that collects a certain series is a collector. This is my opinion only and I know others feel differently and I am in no way saying they are wrong, some people collect classic coins and some collect modern, but for someone to say just because someone collects modern coins (even though they were never meant to trade at face value) are not collectors is just a false statement. Down the road these "coins" could be left to a loved one who knows nothing about coins and doesn't desire to know anything, and when they see that 10 dollar gold coin they may decide to take that straight to the bank and cash it in for guess what, 10 US dollars, because that's the face value. It isn't what the coin was ever meant to exchange hands at but its definitely what a Bank would give him for the coin, is it wrong, well maybe, has it happened, More than any of us could ever count Edited by Bryan1315
09/01/2006 01:02 am
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Valued Member
United States
470 Posts |
Mr. Myst - I couldn't agree more. Where you find your WoW is up to you and as long as it makes you happy and is legal...more power to you. I am definately glad that collectors are not looking for what I'm looking for ...haha. The last thing I need is MORE competition. Mr. Bryan - I've read the very thick block of text that you wrote and I have determined several things. First is that you are the expert and I am the tyro. I bow down to your superior numismatic knowledge. I am uneducated in the ways of the Coin World and I will be the first to admit it. Second is that you are a stickler for definitions. Yes, the yellow metal thing is a "coin", by definition. Yes, if one seeks them out and buys them and keeps them is some order, he is a "collector" of coins. Yes, ofcourse all coins are meant to be exactly the same. Perhaps, I was being vague and overly broad in my use of the words. I apologise to you and to all of the good people who buy stuff and keep it ..you are clearly - collectors. Third there is no argument here. You have your opinion and I have mine. No one is right and no one wrong. We can agree to disagree and coexist. The only thing to argue about is semantics and that is just plain silly. Let me clarify. When I responded to Buffboy that his parents where correct in telling him that coin collecting was a hobby and not an investment, I was talking to a 14 year old boy. He should think of his coins as a hobby first and then if it grows in value ..all the better. I wasn't saying that as a blanket statement that applied to everyone. I'll be the first to tell you that I'm in it for the investment aspect. I'm starting to read up and learn more and as my investment collection nears completion, I'll pursue more numismatic ventures. However, I am of the opinion, and feel free to disagree, that a kid should be a kid and collect for the fun and educational part of the hobby and worry about investing later. And for the record, I have never said anything about looking down on anyone. I am all for equal opportunity collecting. It's ok to collect State Quarters. It's ok to be a hoarder. It's ok to collect squashed pennys from those $.50 machines or even to collect squashed pennys run over my a train. As long as it makes you happy and is not illegal...go for it. |
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Pillar of the Community
United States
1626 Posts |
I see these sets for sale on ebay already.....3200 up to 5000 I missed out on this one... |
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Bedrock of the Community
United States
14454 Posts |
I totally agree 100% that this is a hobby and sometimes it can be a lucrative one and some times there is an expensive lesson to be learned. I am in no way an expert by any standards, I have only been collecting coins for about a year so in no way do I think I know more than anyone else and if I do happen to know an answer to someones question I do not hesitate to try and share the knowledge I do have (usually that someone else shared with me) so they can have the same knowledge. I do collect coins, but at certain times I do see a opportunity like with the 95w ASE that you couldn't get any other way besides getting it with the AGE set (that I bought) and now with this 20th anniversary set with the reverse proofs and the West Point Mint Marked Uncirculated Silver Eagle I thought it was wise to purchase these sets and maybe down the road resale them to fund some of the coins I wouldn't be able to afford otherwise unless I saved for awhile to do so. These coins may be a flop but even if they do not go up in value, they are still coins that have monetary value for their precious metal they are made of so they will never be worthless |
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Pillar of the Community
United States
604 Posts |
quote:
Originally posted by Andrew289
"parents says coins are a hobby not a investment"
The parents are absolutely right. Coins are a hobby and any return (increase in value) on the enjoyment that collecting brings you is an added surprise.
This Reverse Proof Gold Eagle is not a coin; it's bullion. It's only worth a few dollars over spot just like the normal gold eagle. What makes it so desired is that the mint decided to make this coin in a special way and then release a very small amount of them. What you are witnessing is not coin collecting but more like Gold Fever. The hobby has exploded in the past 8 years and the most recent bandwagoneers are bullion collectors who often refer to themselves as coin collectors but personally, I don't feel they are really coin collectors at all. They are gold collectors.
The beauty of coin collecting is going after the ones that are hard to get, rarity wise, not price wise. Learning all about how Morgans and Peace dollars were made and why they took Franklin off the 50 cent piece and how it took an act of Congress to do it. That is coin collecting at it's best.
Having $2,610 dollars in the bank and logging on to a website before 100,000 other people get a chance to is not being a coin collector; it's being a gold collector and an opportunist. Not that there is anything wrong with that. I admit to being a gold collector who is trying hard to become a coin collector.
Collect your coins for the enjoyment and the education and hopefully it will be worth more when you are 40 than it was when you were 13.
In think I maid A booboo when my parents said it's a hobby not a investment they think I'm buying the gold coins which I'm not because I'm to poor I really want the 3 piece ASE set because you can ask anybody I love silver I can prove it too I have incomplete collection of Walking Liberty halves only seven to go!!! but it's not the 1916 to 1947 it's the other one which starts from I think from 1935 or 36 and like I said almost done  |
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Valued Member
United States
128 Posts |
Tpatna,
Where do you think these are going to go? I saw that someone has already bid $3100 on a set...I bet these things keep going up, wouldn't suprise me to see these go at $4600-5200...there are lots of folks who collect the gold eagles, and their set would not be "complete" without the 2 special coins in this set...
Just my .02
later
Bryan
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Valued Member
United States
470 Posts |
That sounds like a great collection Buff. I love silver also. I'm a sucker for a nice Franklin Quarter. I actually found a Walker about a week ago. It was stuck in a book that I had bought at a flea market. I dropped the book on the ground as I was unloading the car and it fell out. I think it was a 1941. I punched a hole through it and made a necklace out of it ...hahaha... Ok ..ok..not really. I put it in my "junk" drawer.
Bryan - both the 10th and 20th anniversary set are wonderful choices. I had just started collecting silver eagles when the 10th anniversary set came out. There is nothing wrong with making money. Gold/silver bullion collectors these days have deeper and deeper pockets !
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Bedrock of the Community
United States
14454 Posts |
I have a 1918 on my key chain I drilled a hole into because it was the year my grandmother was born and now every time I grab my keys I think about her. about the deep pocket investors, anytime we have a weak economy investors start buying precious metals, at least that has been the trend I have noticed anyhow. bryanb1, I really think that the silver set will be the one with the "key coin" in it, the reverse Proofs will probably be HUGE, especially if this is the only year they do it, but there is ALOT of people that collect ASE (allot more than collect AGE because the price) and just like no set is complete without a 95w no set will be complete without a uncirculated 2006W , then you throw the reverse proofs in that set also it could be HUGE. Just think about it, if the 2006W sells anything like the 95W does (they are selling for 3k and up for a ASE)you are paying 100.00 for the whole set, if that coin sells anywhere near that then the Gold eagles would have to sell for around 8100.00 to have that kind of return. I am in no way saying this coin is going to be as big as the 95W I am just saying it has the potential of being as big. I am not saying go spend every penny you have to your name to buy these sets nor am I saying to go in debt to get them, but if you have the money and can afford it then I believe the potential is there Edited to add: I made a mistake, the Uncirculated West Point ASE will also be available in the Gold and Silver set, so that will add another 20,000 coins that will be out there with the W mm Edited by Bryan1315
09/01/2006 2:03 pm
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Valued Member
United States
128 Posts |
You aren't going to believe this but the there are auctions on ebay for the SILVER 3 coin set already (and the mint hasn't even sold out on these yet) for $175.00!!!! OH AND THEY DO HAVE BIDS! There are some dumb folks out there huh? Bryan |
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Bedrock of the Community
United States
14454 Posts |
Welp, someone has already almost doubled their money on that set and they dont even have it yet
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Posted 08/31/2006 4:50 pm
