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New Collector Wants To Make Some Wise Investment Decisions.

 
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New Member

Canada
1 Posts
 Posted 11/08/2019  2:13 pm Show Profile   Bookmark this topic Add joh882 to your friends list Get a Link to this Message
Hi All,

I'm thinking of starting my collection with a 1948 One Dollar MS-62 for around $2300 - I'm hoping that any coins I collect will go up in value in the next 20 years.

Any tips or places I should look for a new collector?

Nice to meet you all and hope this is the proper forum to ask

Pillar of the Community
United States
841 Posts
 Posted 11/08/2019  3:04 pm  Show Profile   Bookmark this reply Add bosox to your friends list Get a Link to this Reply
Welcome. A the risk of being a naysayer, I always have looked at a 1948 dollar as a bit of a widget. The mintage was relatively low, but it was hoarded. At any decent sized Canada coin show, you can find a half dozen in mint state.
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Canada
7679 Posts
 Posted 11/08/2019  4:24 pm  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
1948 dollars are among the coins least likely to go up in value.
They are overpriced now, their value is mostly hype, they are by no means scarce.
"Dipping" is not considered cleaning...
-from PCGS website
Pillar of the Community
Canada
4383 Posts
 Posted 11/08/2019  4:31 pm  Show Profile   Bookmark this reply Add john100 to your friends list Get a Link to this Reply
First of all you should find an area of collecting that you like, 1 cent 5 cents, dollar, toonie, errors, specimens, it just narrows your thought process and much more enjoyable. Go join a local coin club the vast majority of members are very helpful and knowledgeable, ask questions. Buy the best grade coin you can afford, remember there is good graded ms 63 and really crappy ms 63. Lastly you should not buy a tween grade, a ms 63 is much more popular than a ms 62, welcome and enjoy the hobby, this is not an investment but more of just a cool hobby to enjoy and meet fellow collectors.
Bedrock of the Community
Australia
16097 Posts
 Posted 11/08/2019  5:36 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
joh882: to the CCF !

If you are going to invest in coins, spread your investment around, over many coins.
Why?
Less investment risk.

---------------------------------------------------------------------------------------------------------------------------------------

Most people who have significantly valuable collections have built them over a long period of time, and have a large number of coins in their collection.
In most of these cases, investment was not the main motivation for acquiring each coin.

I have collected coins for most of my life, but I have always tried to get best value for money for each coin that I have bought,
but
I realize that there are much better long term investments to be made than coins (stock market real estate etc.). My superannuation investments are NOT built on coins, despite a lifetime interest in numismatics. Although my collection is relatively valuable, eventual selling for a profit was the least of my motivations for buying.

And yes, the value of my collection over the long term has had a better investment performance than inflation, but that is in part due to opportunistic cherry pick buying. That is, I have always bought well. (Same as a coin dealer, but I don't sell, I only collect.)
Edited by sel_69l
11/08/2019 5:37 pm
Pillar of the Community
Canada
2592 Posts
 Posted 11/08/2019  5:58 pm  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
1948 silver dollars, are not great investments, unless you can buy under trend value. 1948 does sell near trends, so there isn't much upswing or room for profit..
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Canada
8690 Posts
 Posted 11/08/2019  6:16 pm  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply

Quote:
First of all you should find an area of collecting that you like, 1 cent 5 cents, dollar, toonie, errors, specimens, it just narrows your thought process and much more enjoyable. Go join a local coin club the vast majority of members are very helpful and knowledgeable, ask questions. Buy the best grade coin you can afford, remember there is good graded ms 63 and really crappy ms 63. Lastly you should not buy a tween grade, a ms 63 is much more popular than a ms 62, welcome and enjoy the hobby, this is not an investment but more of just a cool hobby to enjoy and meet fellow collectors.


. This. The only way your collection acquires value is through knowledge and experience. But, it is the underlying passIon of the hobby that drives us to collect in the first place.
"Research is what I am doing, when I don't know what I am doing" --Wernher von Braun

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

My eBay store
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United States
739 Posts
 Posted 11/08/2019  6:41 pm  Show Profile   Check Collects82's eBay Listings Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply
I'm not sure coins, especially ones that aren't truly rare, are anywhere close to your best ROI as an investment. I can double or triple my money picking garage sales in a Sat morning with little risk, this coin will never come close to that. The heart of this market are hobbyist collectors and the bullion hoarders; there are speculators that go after the rare stuff, but markets can be questionable as far as long term returns are considered. If you do it, I hope it's moreso as an enthusiast.
My hoard of '82s is up to 172! 218 BC x 1, 118 BC x 3, 18 BC x 1, 82 x 1, 182 x 1, 282 x 2, 582 x 2, 682 x 1, 782 x 2, 882 x 1, 982 x 3, 1082 x 1 1182 x 8, 1282 x 2, 1382 x 1, 1482 x 5, 1582 x 12, 1682 x 13, 1782 x 41, 1882 x 45, 1982 x 26
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United States
692 Posts
 Posted 11/08/2019  6:47 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Wise investments = putting money into a low cost mutual fund.
Valued Member
Canada
443 Posts
 Posted 11/09/2019  11:05 am  Show Profile   Bookmark this reply Add tamarin to your friends list Get a Link to this Reply
Collect what you like and just enjoy the hobby for its obvious benefits. Collectibles in general are soft now and will get a lot softer. Buy coins that have eye appeal and that you can acquire at friendly prices. Learn to pass on what sellers want too much for.
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United States
79239 Posts
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Canada
3100 Posts
 Posted 11/11/2019  10:51 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
INVESTING in Coins is foolhardy at best .
Collecting coins for the enjoyment of having a hobby that is fun
and that results in an expanded knowledge of history , geography
and economics .....priceless!
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Canada
631 Posts
 Posted 11/12/2019  07:34 am  Show Profile   Bookmark this reply Add loonielewy to your friends list Get a Link to this Reply

Quote:
INVESTING in Coins is foolhardy at best .


That is a straight answer. Have fun collecting, but do not think you will make any profit. It sucks, but it's true.
"We are poor little lambs...who have lost our way...Baa...Baa...Baa"

In memory of those members who left us too soon...
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United States
79239 Posts
 Posted 11/12/2019  08:46 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Have fun collecting, but do not think you will make any profit. It sucks, but it's true.
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Canada
792 Posts
 Posted 11/12/2019  1:30 pm  Show Profile   Bookmark this reply Add punman to your friends list Get a Link to this Reply
I bought a 1948 silver dollar four years ago. It completed my silver dollar collection and I like silver dollars. I bought it for reasons not connected to investing.

I could buy another today for about the same price. If I sold mine today I'd likely lose 15% because dealers and eBay seem to like to make a profit (I don't blame them). I don't regret my purchase.
Valued Member
United States
86 Posts
 Posted 11/12/2019  3:11 pm  Show Profile   Bookmark this reply Add BGLI to your friends list Get a Link to this Reply
interesting topic and I have same questions
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