Coins For My Son

Iaimbeer4452.

I agree with what your saying. I do not think asking your kids how you should invest your money is the right answer.

I hope you did get the answer to your original question. I think most gave the opinion that buying high grade modern coins may not be a good investment.

The hardest thing about collecting coins as a investment, is knowing what the right price is. If you over pay for a coin, it could take many years just to get even. And a chance you may never make a profit, on some coins.

My best advice is to learn about a certain series of coins. Learn how to grade them, how to buy them and how to sell them. The best deals you will come across, will be when you have a opportunity to buy a coin and from experience you know what it is worth and what it buys and sells for.

I agree with most of what everyone is saying. The newer MS70 coins are not rare and in my heart I couldn't justify paying what they cost. They are worth the price of an ounce of silver to me, plus a few bucks at most. My buddy's coin shop is a bulk buyer of ASE's and they sent 5k in to get slabbed and had over 50% come back 70's for the 2010 run. The populations of the 70 coins are huge. High end key dates will hold their value. Morgans, Lincolns and Gold Indians are where my long term investments go.

I've been working on my own sort of retirement plan using coins. I have been hanging around coin shops for 20 years 10-20 hours a week trying to pick-up the trade. Some have even hired me to work for them. The last 15 years I've been building inventory to open my retirement shop. I certainly don't plan to make a bunch of money buy opening it. I just think it will be a great way to spend retirement, shooting th ebull with your regulars about coins. Heck, I'd do that for free. After 30 years in the Military, I think spending a few years playing with coins will be a nice break.