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 Replies: 17 / Views: 3,132 |
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Previously Banned Member
66 Posts |
Poll Question
I just purchased a copy graded by PCGS in Fine condition for 900$ is it a good buy (listed at 1125$ used option best offer on ebay)? I want to buy some lower graded semi-key dates for investment for down the road (I am 31 years old so I figure buy the time I am 60 I will sell)...is this type of coin good? Nice looking coin but no CAC on PCGS holder.
Edited by 1921
08/19/2012 5:22 pm
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Previously Banned Member
 66 Posts |
I am new to U.S coins I live in Canada but it seems like the U.S coin market is WAY WAY better so I want to buy these type of coins. I can't afford million dollar coins or 100k coins...so I am going with what I can buy.
Edited by 1921
08/19/2012 5:08 pm
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Pillar of the Community
United States
7196 Posts |
The coin is a rarity with only 60 K in mintage but I feel you probably paid close to retail for it in this grade at this time. It should increase in value over time but if your goal is to profit thirty years from now I would be focusing on higher quality coins instead of out right rarities in lower grades. For example here is a proof seated half much higher grade and a mintage of only 1,355 for the same price. http://www.ebay.com/itm/1880-Seated...em46059c7e7eI really enjoy Seated halves with great detail and feel they will appreciate better to a broader range of collectors in the future. |
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Pillar of the Community
United States
8904 Posts |
IMO, trying to figure out the market for rare-ish US coins 30 years down the road is a big stretch. I would invest the cash in stocks or mutual funds and let them mature for 30 years. I think you'll do much better financially, have much less risk, and be happier as a result. I have found personally, US coins are a great hobby but not a great savings plan. I.E, I buy coins because I like them (and the people!!) not for any investment. Just my opinion. |
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Previously Banned Member
66 Posts |
muddler:
Thanks I would but my budget is for these type of coins. I have bills to pay like almost everyone...so I have to stick with this type of coin 1000$ - 2000$ range.
Edited by 1921
08/19/2012 5:35 pm
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Pillar of the Community
United States
3184 Posts |
You should buy to collect for fun vs investment
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Previously Banned Member
66 Posts |
mkman123:
I love coins but I also want it to be for investment as well I prefer the combo of the 2. I enjoy the coins I buy but I like also knowing that I can make a profit down the line. If I didn't like coins I would by some other type of investment.
Edited by 1921
08/19/2012 5:47 pm
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Pillar of the Community
United States
1374 Posts |
I second Moe145's comment wholeheartedly.
I have several coins I'm holding as an investment. However, my personal rule is that if I can't turn around and DOUBLE my money on a coin TODAY, I won't buy it. Often, these are coins I cherry pick, but most of them were just WAY underpriced, undergraded, etc.
Knowing what to buy, and when to buy takes tremendous patience, years of experience and some luck!
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Bedrock of the Community
United States
10982 Posts |
$900 USD is a high price in F12. Unless it's undergraded or has great eye appeal, $800 is full retail.
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Previously Banned Member
66 Posts |
Then what coins in this price range are good coins (800$ - 1000$ coins)?
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Pillar of the Community
United States
1374 Posts |
Maybe you would enjoy Eagles. Gold might be good for you.
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Bedrock of the Community
United States
10982 Posts |
True MS67 Morgans at $700 are a good deal. I'd only look for PCGS or NGC certified examples with CAC approval if you're getting started.
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Previously Banned Member
66 Posts |
Drsandman2:
Would suggest any other semi-key dates...gold is to high to make any kind of go at it. I really doubt gold will ever in my life time hit any where near 2500$-3000$ an ounce. The coin I purchased today I am pretty confident it will double in value every 7-10 years that is fine with me. Those are the type of coins I want to buy in regards to semi-key coins.
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Previously Banned Member
66 Posts |
BH1964:
Thanks I will try that! What dates are good in this series?
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Pillar of the Community
United States
1374 Posts |
Often, coins don't gain value over the very long term. Their prices rise due to inflation. Gold is often seen as a safe investment because its returns are typically greater than inflation over time. Moreover for mutual funds and stocks, like Moe145 said. For example, just because a coin was in the RedBook for $100 in 1965 and listed at $600 in 2010 does not mean that the coin gained value. In fact, in this example the coin lost value due to its inability to overcome inflation. I'm curious why you think the coin you bought will double in real value in the next 7-10 years. I can see the nominal value doubling, because the only thing the world economy can do at this point in economic crisis is print money. If the world economy remains in recession, or gets worse, you won't see a rise in demand. |
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Pillar of the Community
United States
1003 Posts |
That coin is very rare.The mintage of this coin is 60,000. I think you got a good buy.
-Kenny
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Replies: 17 / Views: 3,132 |
Posted 08/19/2012 5:26 pm
