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Posted 06/16/2014 01:13 am
I did the opposite.
I had a reasonably nice collection that was narrow in scope.
Because I had lumbered myself with a mortgage (now paid off), I did not have much to invest in coins. I found that I was passing up too many low priced bargains in other areas of numismatics.
Answer?
I broadened the scope to encompass most of the areas that numismatics has to offer.
By buying very well over the decades, the value of my collection has always steadily increased a tiny bit more than the long term inflation rate, when checking against market prices.
That is ONE reason why I have been able to sustain a high level of interest in coin collecting throughout most of my life. The strategy has also led me to increase my interest in World History geography and economics spanning the last 2,500 years.
Despite the increase in value, profits have never been realized, because I am a collector, not a trader or an investor.
I have been happy to buy a coin for a dollar and rarely, up to hundreds of dollars for a coin.
Also helps to explain why I am able to post in most sub forums here in the CCF.
I had a reasonably nice collection that was narrow in scope.
Because I had lumbered myself with a mortgage (now paid off), I did not have much to invest in coins. I found that I was passing up too many low priced bargains in other areas of numismatics.
Answer?
I broadened the scope to encompass most of the areas that numismatics has to offer.
By buying very well over the decades, the value of my collection has always steadily increased a tiny bit more than the long term inflation rate, when checking against market prices.
That is ONE reason why I have been able to sustain a high level of interest in coin collecting throughout most of my life. The strategy has also led me to increase my interest in World History geography and economics spanning the last 2,500 years.
Despite the increase in value, profits have never been realized, because I am a collector, not a trader or an investor.
I have been happy to buy a coin for a dollar and rarely, up to hundreds of dollars for a coin.
Also helps to explain why I am able to post in most sub forums here in the CCF.
to CCF, you have been given pearls of wisdom & experience in the prior posts. There's nothing I can add, except my experience. I've been actively collecting for 2 yrs. I started collecting the Commemerative Olympic 2010 quarters in 2008, it was something fun to do. I didn't no anything about coin collecting at that point. Then 2012 I discovered silver Nclt coins, and I was hooked. I found this forum and have learned a great deal, that's lead me to make more informed choices. The biggest lesson I learned on the forum is: coins are not an investment, buy what you can afford and like. Do not expect a return on investment. If you do it for fun and don't think of future profits, it will stay enjoyable!! I collect mainly silver coins from my country Canada. I have 1-2 series of coins I collect duplicates because I love the image. I also just started collecting one theme I enjoy, they are coins with horse images, as I used to ride & work with horses.
