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 Replies: 23 / Views: 4,965 |
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Bedrock of the Community
Australia
21788 Posts |
You will increase your chances, if you make a very concerted and selective effort to buy well to begin with.
Just expect to be often dissapointed if you miss out on a purchase you have set your heart on, otherwise expect to pay more than a good bargain price.
Expand your numismatic interests more widely, to expand the size of the field of potential bargains.
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Pillar of the Community
United States
4337 Posts |
not this that this is a profound thought but of course, conditional rarities in any series is a good long term hold. Early gold in AU to MS, Liberty Seated coinage in highest end of the spectrum MS and as Paralyse stated, proofs as well. Although LSC is flat, my best coins (LSDs) that I could flip tomorrow for what, if not more, than I paid are the conditional rarities. I don't aspire in Numismatics for profits but I like to know that in the event my children never get inspired (and at 11 and 13 yrs now they have zero interest other than asking me "what is it worth") I would like to know that when I pass one day, they will have an easy time moving what I have curated over in my lifetime and that its worth some sort of money to them outside of a few small dollars. Great topic. |
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Pillar of the Community
 United States
1450 Posts |
I wish I had had a father or grandfather who was a collector and had passed on a great collection of gold coins to me or maybe a set of BU Morgans. I will probably give my coins to my cheap butt brother who loves coins but is too cheap to buy them. This is a guy who gags over buying a new couch to replace his 40 year old broken down old bag of springs. He is a millionaire and has a heart attack spending $100. I tried to get him interested in doing a Peace dollar set. He bought three coins last year. I told him if he was to buy high quality coins he might make a profit as well as having something to be proud of, but it didn't work. This is probably why he is a millionaire. |
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Valued Member
United States
343 Posts |
I would say that is why he's a millionaire, but whats the fun in that? I would only be that way if I had a plan to the effect of:
Hoard every penny until age 50.
Move to Fiji and do whatever you want for the rest of your life, all debauchery included.
End of plan.
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Bedrock of the Community
United States
20753 Posts |
And here is something to think about. IF the trend continues to use only plastic credit and debit type cards, our Mint will slowly fade away. Coin production will fall and there will be less and less new coin collectors. As the amount of new coin collectors falls, the need or desire for anyone to try to make money in this hobby will find it more and more difficult. Things like roll searching is already at it's peak and many are finding less and less doing so.
Kids today are more and more involved in TV, computers, electronic games so collecting coins is for them, a bit out dated.
As to the question. Almost all coins will appreciate in value but who is going to buy them?
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Pillar of the Community
United States
1450 Posts |
Coins are often things of beauty. I have seen some foreign coins that just knocked me out and some American coins as well. The Irish Free State large coin with the harp on it impressed me. Each coin has a story behind it. I think coin collecting will continue just because they the silver and gold coins become more rare as time goes by. Does any country in the world produce circulation gold and silver coins these days? Where are all the silver coins of the 20th century in the USA? They have been melted down or are in collections. I have not seen a silver coin in decades not even a Roosevelt or Washington silver coin.
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Pillar of the Community
United States
3343 Posts |
About 5 years ago I got a silver Roosevelt in change. I told the waitress it was silver. She had no idea what I was talking about. To her it was just another dime.
Coin collecting has always been a specialist hobby. IMO it's been superseded by other specialist hobbies that kids can afford.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
7390 Posts |
I'd bet that high end (say $1000+ currently) ikes whether by grade, error or rarity are a good investment for a 20yr time frame. Nobody has a crystal ball but top ikes are an area I'd classify as buy and hold right now.
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Valued Member
United States
205 Posts |
Unfortunately, I feel just carl is right. Most of the older classic coins are truly works of art, with each individual one being different. Each one has a different history. Efforts are being made now to become a cashless society. Each graduation celebration I attend I give a classic coin on the condition they begin a collection no matter how small. Morgans and early copper are what I feel would do well over the long haul. Just my 2 cents. Ag
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Pillar of the Community
United States
4471 Posts |
For fun my common man Morgan top 10 by grade.
1) 96S AU58
2) 03S AU 58
3) 94 MS 62
4) 84 PL or DMPL MS64
5) 04S AU 58
6) 89CC XF40
7) 80 PL or DMPL MS64
8) 99 O PL or DMPL MS 64
9) 81 PL or DMPL MS64
10) 82 PL or DMPL MS 64
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Pillar of the Community
United States
1450 Posts |
If you think old baby boomers and those even older don't have money just watch Mecum Auctions and see these old guys buy classic cars for $200,000 and even more. There are plenty of people out there with more money than brains. If you just have time most things with any value can appreciate. Watch "Pickers" and see these guys turning rusty old junk into money. People will collect anything and are willing to pay up to get the rare stuff in their particular area of obsessive/compulsive delight. My wife used to seriously collect cookie jars. The internet ( ebay) hurt that market because it became easier to find rare cookie jars and the supply increased. |
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Bedrock of the Community
United States
20753 Posts |
Quote:
If you think old baby boomers and those even older don't have money just watch Mecum Auctions and see these old guys buy classic cars for $200,000 and even more Always remember that what you see on TV or in the movies may not be true. I've had many old cars and in perfect shape. Keeping them up, finding parts, etc. gets expensive and then REALLY try to sell them for what you put into them. For example my 67 Imperial has only 23,000 miles and I would be lucky to get what has been invested in it.  Now if this was a TV show, or an auction you see on TV, I'd be getting a small fortune for this. In the REAL world, almost difficult to sell. Same with a lot of coins which is why everyone says this is a hobby and not a good investment thing. |
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Pillar of the Community
United States
4337 Posts |
nice ride carl
i'd guess you can grab $18K to $23K for that car or am I at a wholesale number in that range?
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Valued Member
United States
127 Posts |
Most collectors usually are not investors. Most collectors rarely ever see their collections increase in value in 10 years. Wanna make money ? Buy other stuff. Compare prices in "Redbooks" 10 years apart, 20 years apart, or maybe some older. Extreme rarities increase, but the average collector doesn't have the mega money for that purchase. Collect for the enjoyment, not for the profits.
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Pillar of the Community
United States
1450 Posts |
I really agree with that idea that you should collect for fun and not for profit. I do get a kick out of filling a set of coins. It is just personal satisfaction. The fact you have to buy them and can't just find them in your change is off putting these days. When is the last Buffalo or Mercury you saw in your change? The fact I could put together a pretty decent set of Buffalo nickels is a big deal to me. I show them to friends of mine and they are impressed just because they probably wonder where those coins went. |
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Replies: 23 / Views: 4,965 |
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Posted 05/29/2016 09:03 am
