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 Replies: 21 / Views: 2,255 |
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Valued Member
 United States
264 Posts |
@DavidZerbato...I too like Indian Head cents. In fact I got him one of the keys already. It's one of two coins I have put back for him. They are quite certain to remain a popular series in the future in my opinion. I may get him a nice 1877 as well. |
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Moderator
 United States
23522 Posts |
You prove yourself to be already thinking clearly, Landon. Nice to see.  I'll throw a few ideas at you: Stay away from gold for the moment; prices are somewhat inflated due to speculation, even with coins valued for their collectible features. 1909-S/VDB and 1955 DD Lincolns. Early (pre-1800) anything. Nicer Seated dollars. Higher-grade (Mint State) Bust Halves. Pre-1900 Proofs of most issues. Morgan dollars at and over MS65, excluding the (relatively) common early San Francisco issues. You'll still have to do your due diligence with these, ensuring they're genuine, properly graded and being purchased for a reasonable price, but I do not believe any of them will do you wrong in the long term. |
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Valued Member
United States
264 Posts |
Thanks, SuperDave. Those sound like really good suggestions. Pretty much everything you suggested are coins I really enjoy, so I'm happy to hear they have potential. Now all I need is a trustworthy dealer. I live in a small town in Virginia, the closest coin dealer is 60 miles away and doesn't really carry anything. I'm not quite ready to purchase high-end coins though, as I still have a couple books to read and lots of research to do. I try to learn everything I can about a series or particular coin before making the leap. I by no means have money to burn, so I must be careful with my decisions. He can either take ownership of a several dozen common date/common condition coins that everyone and their granny own, or have a few coins that truly are rare and special. I know if it were me I'd pick the latter. In 20 years I'd imagine pre-1800 coins in nice condition will be far more scarce than today. Thanks for helping steer me in the right direction.
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Bedrock of the Community
United States
10284 Posts |
I hope that you will buy professionally graded coins rather than raw coins from a "trustworthy dealer".
Since you are not a knowledgeable collector, you are putting yourself in a highly vulnerable position to be had.
Knowledge is always the key.
This is almost like one of those topics we have had, like, "If you had 5,000 dollars to invest in coins for 30 years down the road, what would yo buy?"
Good luck! If I were you I would learn all I could about certain key coins before I fork the money over for them.
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Valued Member
United States
264 Posts |
By trustworthy I mean fair prices. The only two expensive coins I own are both in PCGS holders. I have a rule that if I spend more than 200 for a coin it must be certified by PCGS or NGC. I'm new to collecting but not that new. It is nice to have a dealer nearby so you can see coins like you want in person. I've been looking at value trends, reading books, and conducting all the research I can on the coins I'm interested in. No one around me in the real world has any interest in coins, and think the idea of paying a thousand dollars for a single coin is sheer lunacy. So I came here. I just wanted to see what others thought. I realize no one can predict the future.
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Pillar of the Community
United States
1510 Posts |
Quote:
I have a rule that if I spend more than 200 for a coin it must be certified by PCGS or NGC.
good rule--also dont tell the wife.... Retired USAF 1983-2003
Edited by Coinstar
01/07/2011 7:33 pm
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Pillar of the Community
United States
594 Posts |
A set of American Silver Eagles.
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Pillar of the Community
United States
953 Posts |
I agree with the comments abt the rarities that will not fade with time......esp in the series that are popular (and very likely continue to be) like indian and lincoln cents, buff nickels, mercuries, slqs, walkers and morgans.
Just my 2 cents
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Pillar of the Community
3660 Posts |
Quote:
No one around me in the real world has any interest in coins, and think the idea of paying a thousand dollars for a single coin is sheer lunacy Depending on just how affluent you really are, you might want to listen to those around you in the real world....  |
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Moderator
United States
23522 Posts |
Excellent. A newbie who isn't a newbie. Life is good. Continue your research. Get a feel for what you like, and what things might be worth. Bring some ideas, and we can discuss appropriate venues and dealers you might be able to form a sight-unseen relationship with. There are plenty out there, people I and others could recommend without hesitation, even if you want "nicer" examples of a grade. Case in point, I could see myself recommending Legend or Pinnacle Rarities in an instant, if what you want is what they've got. Neither of them dirty their hands with "lesser for grade." If you prove comfortable with grading from high-resolution photographs, Heritage Auctions is another possibility, given a little patience on your part. There are a large number of acceptable answers to the questions you're asking. Can you invest in stuff which will outperform other investments over time? Speculative, unlikely unless you're lucky. Can you invest in stuff which will not depreciate but steadily exceed inflation in value? Undoubtedly, especially over the term you propose. |
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Pillar of the Community
United States
516 Posts |
I'm in a little bit of a similar situation in that I'm more of a newbie, but have done a lot of learning and research over the last year. I'm getting to the point where I'm going to start considering some investment purchases (with the hope that they meet inflation). I've always heard that heritage is kind of the gold standard for these types of coins.. Do you think a dealer like the two you mentioned above would generally be below, on par with, or above the final price at heritage (price+BP+shipping)?
Are there any other online dealers that you would recommend looking into?
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Pillar of the Community
United States
4989 Posts |
For price appreciation, you need to buy key dates. A trick is to find the place on the grading scale where the price skyrockets and buy ONE GRADE LOWER. That is like buying the cheapest home in a very expensive community you can expect it to appreciate thank to its neighbors. Suggested Coins for a 5K budget: 1909-S LWC, 1972 DD LMC, 1995 DD LMC, 1889-CC Morgan, 1893-O Morgan. Do not get ripped off when you buy them - use Heritage or Teletrade not a dealer. |
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Pillar of the Community
United States
3076 Posts |
One point I would like to POINT OUT, as over many years there have been many many lists or "PRICE GUIDES"...in other words, If you were a dealer you would Never be paying RETAIL prices...the Grey sheet is the standard price guide.....of what dealers pay between them selves...Stay as close to those prices as possible...PGCS price guides lists there Idea of what there retail prices are....Numismeadia online, " RedBook" and many others also list there idea of any coins value but these are retail prices..... Worst case scenario...go buy a business license even though you don't intend to compete with the world rather to qualify to buy and sell between buyers at there prices....SUBSCRIBE to the Grey sheet, or at least one quarter, or current listing, it's not expensive this way, and coins don't BLOAT in a few months...Keys and semi Keys, or as suggested...MS65 coins, as MS64 coins in general don't inflate and MS65 at least hold there value and will appreciate...When you spend your first $5,000 for your son, be sure to send me the second $5,000 But FIRST and foremost take the time to study up!!Alot of great info has been posted, so take the time to research so you can make the best choice. and there is not only one good choice, just good judgment.... |
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Pillar of the Community
United States
1554 Posts |
I'm going to be the Devils advocate here....I don't know if buying some coins for your kids to open at a later date is a great idea....We've been through this in our family and it is not always the best idea. Even with the best intentions and also with teaching your kids about the value of collectable coins, things can happen in the future that you do not see now. The coins that you buy for them now could be looked at by them differently than what you wanted them to see or realize from them....In other words they may not be interested in them and your investment may go to waste very easily/quickly. I'm truly not trying to be a bummer but this happens frequently.
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Pillar of the Community
United States
516 Posts |
One other fear that I have is will there be enough collectors in 20-30 years to keep the prices up? Before investing too high a percentage of your money into coins, I think that has to be considered. Is the prevailing thought that the key dates will be the ones to hold their value and the more common coins wont if this occurs? Or should we expect everything to lose value in that case?
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Replies: 21 / Views: 2,255 |
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Posted 01/07/2011 1:13 pm
