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Replies: 15 / Views: 1,657 |
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Valued Member
Australia
131 Posts |
As I am quite new to coin collecting, I was wondering what is the best way to invest my hard earned into? coins? Notes? Gold? Silver? HELP PLEASE 
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Valued Member
Australia
218 Posts |
They are all good. I guess it depends on what you have a liking for. Afterall, money aside, you should have a passion for a certain field. If it's pure investment, then they all, going from past results, have increased in value over time. Maybe do some research yourself, buy some old price guides on coins and notes, check out the auctions to see what you should be paying.
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Valued Member
United States
116 Posts |
Well notes you should already be taking. Silver is one thing you should invest in while picking up some out of the blue coins
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Bedrock of the Community
Australia
21786 Posts |
Two ways to go on this, before deciding:
1. Collect anything that interests you now, until you find your interests naturally develop into a direction that you feel is right for you. Later on, sell those items that no longer interest you, and convert the money into those things that do interest you. 2. Do lots of reading first, before you feel that one of the areas you have noted becomes right for you.
Parts of my collection have developed as as result of BOTH of these approaches.
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Valued Member
United States
275 Posts |
 Don't rush into it. Do research on anything you want to try. Buy from reputable dealers if you want to start right away. Did I say not to rush. Be careful of ebay! This site has many experts, take advantage of their knowledge. Have fun!
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Pillar of the Community
Australia
1244 Posts |
As a newbie start with the cheap stuff, that way if you make a mistake or buy something you end up not liking you haven't lost that much money. newbie's may just like to have fun with noodling coins that you find in your change. Find out what you like about coins, before spending big money on them. Everyone can tell you that what you start collecting, and what you will be collecting years later are two very different things. I started with collecting circulated coins like the picture 50c and 20c coins, but defiantly went in the direction of pre-decimal coins and stuck with threepences. On the odd occasion I might find a silver coin that I like, I ended up buying bush baby coins from the Perth Mint. If you ever unsure you can always just ask a question on the site, there are heaps of people here to help 
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Pillar of the Community
Australia
1295 Posts |
Simple advice. Dont. If you get into coin collecting for investment reasons you'll almost certainly lose money. Same can be said of gold and silver, it's just speculation.
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Pillar of the Community
Australia
7096 Posts |
Quote: Simple advice. Dont. If you get into coin collecting for investment reasons you'll almost certainly lose money. Same can be said of gold and silver, it's just speculation.
 That is sage advice
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Valued Member
Australia
428 Posts |
all good advice from here but at the moment gold is down a bit so if you have the funds ready to go , go out and buy yourself a couple of grand worth and put it away ..it is the only thing that does not need looking after ..then think about the other ones .. ,, kel ,,
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Pillar of the Community
Australia
762 Posts |
I think most people here would agree that we collect for pleasure and any investment gains we make are just the icing on the cake. I justify the money I spend on cones and notes as being an investment. The truth is that it is only an investment if I sell.....and I have no intention of doing that.
Any investment is a long term investment. There are significant costs involved in buying and selling coins. There are also costs in keeping coins when you consider security systems.
Gold and Silver are safe but you are at the mercy of the markets. For coins and notes you really need to get the highest grade you can possibly get.
My advice though would be to start as a hobby and accumulate knowledge.
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Pillar of the Community
Australia
7096 Posts |
Quote: I justify the money I spend on cones Happy days   
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Pillar of the Community
Australia
1607 Posts |
Thats Funny   Sorry MOR's
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Pillar of the Community
Australia
762 Posts |
 a fruedian slip perhaps 
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Valued Member
Australia
428 Posts |
they also told me super was a long term investment, but how long is long term ? I dont have many years left in me now and my super is already down by $ 47.000.00 dollars ..which I will never get back ..   ,, kel ,, enjoy it today , tomorrow was never promised ,,.
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Pillar of the Community
Australia
4411 Posts |
Cones...... 
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Pillar of the Community
Australia
841 Posts |
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Replies: 15 / Views: 1,657 |
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