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 Replies: 75 / Views: 6,798 |
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Valued Member
United Kingdom
342 Posts |
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Pillar of the Community
 United States
7102 Posts |
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The idea that you will get rich from coins is the biggest lie One more time .... Coins collectors don't make that kind of statement. Hucksters do. If you can't tell the difference, that's on you, not the hobby.
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Moderator
 United States
162716 Posts |
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One more time .... Coins collectors don't make that kind of statement. Hucksters do.  Quote:
If you can't tell the difference, that's on you, not the hobby. 
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Pillar of the Community
United States
4558 Posts |
Ehhhh, I don't know if I agree that you can't get rich from coins. Define "rich", and define "from coins". Certainly you can build an excellent business in coins, and make a reasonable salary from doing that. I would say that with skill and dedication, that is indeed possible. Many people have done exactly that. There are also rare examples of people finding truly expensive coins in change. Look at CoinHI finding that 1969-S DDO in his buddy's stash of Lincoln cents. That coin is worth five figures. Perhaps TikTokkers misrepresent the possibility of finding such coins, but it does happen in rare situations. The idea that someone is going to have no skill, find a spectacular coin in pocket change, and become wealthy? That's fantasy. They have a much better chance at winning the lottery, because there is no requisite skill acting as a gatekeeper. The odds are also known, and are thus discouragingly small (although apparently not enough to discourage the bored, the desperate, or the profoundly bad at math). |
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Moderator
United States
70159 Posts |
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The idea that you will get rich from coins is the biggest lie yep, that is a tiny bit of a lie - you won't get very rich (monetarily speaking), but you sure can go broke if you are not careful. 
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Pillar of the Community
United States
570 Posts |
If you consider the OP's location, he should be investing in oil wells and quit wasting time with numismatics. Getting rich from coin collecting? No. Silver hoarding (and selling) is different from coin collecting so that don't count.
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Pillar of the Community
United States
601 Posts |
I don't expect my annual buying of the ASE proofs to make me a fortune. That said, it's nice to know that some of those ASEs will fetch some money (including the 2019-S). |
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Moderator
United States
70159 Posts |
so very true mrpapageorgio. When I sell my collection, I hope to break even or slightly above.
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Moderator
United States
162716 Posts |
You, sell your collection? Never!  |
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Pillar of the Community
United States
1381 Posts |
The clickbait people search the large auctions houses for coins that sell for extreme amounts of money and then say you might find one in change. What they don't say is that coin has probably gone through many auctions over the years and if the seller is lucky, they might get 10% over what they initially bought it for. Do million dollar coins exist? Yes. Will you find one in pocket change? Extremely unlikely to definitely not. If it was found in pocket change, it would probably have high circulation wear and quite possibly damage significantly dropping the value.
That being said, there are opportunities to get worthwhile coins for cheap like the QDO 1967 half I found in an SMS set. By the way, about 3/4 of my collection is probably worth face value.
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Pillar of the Community
United States
601 Posts |
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That being said, there are opportunities to get worthwhile coins for cheap like the QDO 1967 half I found in an SMS set. By the way, about 3/4 of my collection is probably worth face value. There was also a brief window very early in the pandemic when people were selling off their stuff in a fire sale trying to get cash due to the uncertainties. Wish I had bought some silver eagle rolls from my local dealer when they were offering for $400, but silver had tanked to $13/oz when COVID was setting the markets on fire so I was trying to get them cheaper than that. Right now my best appreciating coin percentage wise is my 2019-S ASE that I got directly from the mint and graded 70. My best appreciating in terms of how much I could get dollar wise is the 2021 liberty gold coin which I bought (and the silver medal) from the mint and both graded 70. Paid a couple thousand for them, but just browsing, looks like I can get several thousand for them if I sold together.
Edited by mrpapageorgio
04/23/2025 8:56 pm
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New Member
United States
4 Posts |
Well and here I thought it was all about the "HUNT". That little thrill you get opening a new roll of coins. the anticipation that you may find something. anything. Even if it is just a 1977 Lincoln Cent. |
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Pillar of the Community
United States
7102 Posts |
Anyone here made $1 million in coins?
Edited by tdziemia
04/23/2025 10:14 pm
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Pillar of the Community
United States
570 Posts |
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Anyone here made $1 million in coins? Larsjan? LOL
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Moderator
United States
162716 Posts |
Quote:Well and here I thought it was all about the "HUNT". That little thrill you get opening a new roll of coins. the anticipation that you may find something. anything. Even if it is just a 1977 Lincoln Cent. 
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Replies: 75 / Views: 6,798 |
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Posted 04/19/2025 03:01 am
