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 Replies: 14 / Views: 1,684 |
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Bedrock of the Community
Australia
21786 Posts |
The reason I have initiated this thread in the Main Coin Forum is that I have wide ranging interests in numismatics generally. This should give anyone who is interested in numismatics generally to promote their own case for investment. I have posted on almost ALL sub Forums in the CCF.
As a lot of my friends in CCF may know, my wife died recently.
I used her as the investor, but I now have a tax problem. I will now set up a self managed Pension Fund, because there is no tax to be paid in a Self Managed Pension Fund in Australia. The tax concession IS allowed in a self managed pension Fund, because I will be deriving my own income in retirement, NOT the Government.
Having said that, I gave her about $400,000. An investment advisor along time ago said to me that about 5% of such a fund could be prudently invested in fine arts, numismatics and bullion.
That approximates to around $50,000, which will available for numismatic investment.
I have some opinions formed as to how that will be invested, but I will not say so just now.
So, go on all of you CCF experts out there - give me your OWN opinion on how I will have to invest. Edited by sel_69l
08/27/2012 02:46 am
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Pillar of the Community
Australia
7096 Posts |
5% of $400,000 is $20.000 Sel  I don't promote numismatics as an investment idea because quite frankly there are a lot of other more profitable ways to increase your wealth. I do however believe that what I personally spend on coins will eventually be worth a little bit more as time goes by. My main profit from my coins is in my well being and enjoyment. These things cannot be quantified in dollar values but are just as essential as food and all the other things you will need in your retirement. So my advice is to buy whatever coins give you the most pleasure and enjoy the journey. At the end of the day the coins should still be worth at least as much as you paid for them ( It's not often the value of a coin drops dramatically) If I had a lazy $20,000 I would end up with the biggest and best commemorative florin collection ever  |
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Pillar of the Community
Australia
1244 Posts |
How about not worrying about investing money as such in things, but enjoying your life... seriously you should go on a world cruise for a few months and just enjoy yourself.
Investing should be considered carefully, because if you rush into it someone is going to rip you off.
Coins, and bullion are just things at the end of the day, you cant be guaranteed that they will make money, and I am not sure how much enjoyment you can really get out of them, once I complete my coin set there is not going to be any interest in colleting coins for me at the end of the day, I am kind of up to picking out variety coins now, the hunt is almost over.
Its just been a really nice hobby.
I would think buying land might be an interesting idea, but then you have to pay tax and stuff on that too.
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Bedrock of the Community
13014 Posts |
Sorry to hear about your wife.
For the investing are you looking to get coins that you like or bullion?
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Bedrock of the Community
 Australia
21786 Posts |
As far as World Travel is concerned, I helped drive a double deck bus from Bombay (now Mumbai) to Europe in 1970, at the peak of my health in 1970.
Have a look at my very first post in the CCF:
'The bus driver'.
Drove through India, Pakistan, Afghanistan Iran Turkey Greece and the Balkans to get there. A lot of those places have been ravaged by wars since that time. I had already collected a few ancient coins by then, bought from Spinks in London.
Came back home on a ship spending five weeks at sea, via Teneriffe Cape Town and Fremantle, after two years in the U.K. and six weeks in Europe driving a new car and camping. My employer was Stretford Borough Council, very close to the famous home of Manchester United football team.
Been there, done that.
I met my wife for the first time at 17 years old, two weeks after coming home.
I don't think I could top ANY of those!
I will almost certainly do some modest travelling anyway.
Edited by sel_69l
08/27/2012 03:17 am
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Moderator
 United States
56855 Posts |
sel_69l, Tried to email you but it's blocked. Just wanted to say that it's nice to see your back posting. Hope all went well with your surgery and that your felling better. John1  |
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Pillar of the Community
United States
7840 Posts |
I agree that I would use the amount ($20K) to enjoy myself...and that would be applied to my 7070, which could be considered an investment as well. Be good to yourself!  Edited by oih82w8
08/27/2012 10:29 am
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Bedrock of the Community
United States
20753 Posts |
Here is some realllllly great ideas. 1. Get a copy of the Red Book and look at pages 423 to 427 for the top 250 US coins at auctions. Even the lowest one is $374,000.00 You could possibly join that hall of fame with just one purchase. Then add in your will to leave it to me. 2. Why bother with all that legal stuff and monitary problems. Just send all of the surplus money to me. You'ld be amazed at how fast I can blow it all. 3. Not sure if your a great person for donating but there are so many people out there that could use just food. 4. I'm on the older side and I usually suggest as others have, have fun, blow it all on whatever makes you happy. Not sure how old you are but as you get older, you will constantly say, why didn't I do that when I could. Old age has a habit of making people not healthy enough to do all the things we all should have done. Quote:
As a lot of my friends in CCF may know, my wife died recently. I didn't know that and I know how that effects us. I've lost so many friends, relatives and neighbors as I get old. Which is the reason I say just have as much fun in life as you can. |
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Pillar of the Community
United States
2602 Posts |
I'd focus on key date coins, which historically have a good to excellent return (10-20%). Many key dates have softened in this recession, like the 38D Walking Liberty half, the 31-S Lincoln Cent, the 31-S Buffalo nickel, the 32D & S Washington quarters, the 27-D Standing Liberty quarter. I recently picked up all those coins at a coin show cheaper than 1 year ago for similar quality. So it would be good to buy while the economy is weak and the key dates are a bit soft, as they will rebound when the economy gets better. |
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Pillar of the Community
United Kingdom
4208 Posts |
I would go into a coin shop and buy whatever the heck I pleased. I suggest you buy a whole load of silver personally, as gold appears to be near the cieling and a new mine is rumoured to be opening. I reckon you should enjoy it, buy as you please, despite whether a profit could be made or whether it is a feasible 'investment'. Go travelling where you want, when you want. Some other ideas: Buy uncleaned roman coins in bulk from Israel, for $20,000 you could get nearly 20,000 coins. Sell them at a slightly higher price on ebay and to the peeps down at the ancients board. Buy a load of Copper/Iron/Aluminium bullion and build a new house out of it. This might sound crazy, but buy a small furnace and mint your own coins, sort of like a business card. You could mint your own bullion coins. |
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Valued Member
United States
66 Posts |
My suggestion is to slowly narrow down a common area that interests you most. Then I suggest researching more into that area, it's history and all the coins involved. History books, specific auctions for those types, reaching out to experts (pick up a phone and talk to them, and or dealers that specialize in it.
Hopefully after all that, your answer will come to you quite naturally, much like it sounds that your wife came to you so many years ago. Sorry for your loss, take care.
since you hope to make it an investment, that type of knowledge would help a lot, and in order to stay interested it needs to have that type of draw.
Personally for me right now, I would suggest the older US Commemoratives. seeing you are on the other side of the world, I am not sure how that would translate.
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Bedrock of the Community
Australia
21786 Posts |
Yes, I AM into American coins, I have about 150 of them represented in all three metals.
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Bedrock of the Community
United States
14454 Posts |
I know this is going to sound crazy (especially since I didn't read any responses you already have gotten) but I don't think you could get "investment quality coins" for the amount you have to spend. I can't think of any $20,000.00 coin that I would call an investment coin that would rise in value as much as the money being invested in other ways may yield. So if you want to spend 20k on coins I would just buy what I liked and if possible the key dates in the highest grade I could find at the time and you may yield about as much as you would when it came time to sell as you would with other "investments" but I just don't ever see coins as an investment vehicle unless you are buying the 1933 St Gaudens or some of the other coins that fall into the same category. The bad part is that you are not going to be able to play in this section of the hobby (where you can just about Guarantee a larger return on your investment) for the amount of money you have to spend
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Pillar of the Community
United States
3294 Posts |
Wow, 20k on coins? I think I would try for the nicest 1901S quarter I could find. Either that or a nice late 18th century US gold coin or two.
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Pillar of the Community
United States
1119 Posts |
Condolences on your spouse. If I were you I would buy what I liked. Right now for me that is Lincoln cents and what ever, if any, I had left over I would put into US 90% junk. If you are looking strictly for investment purposes I would prob just buy shares of a silver ETF or physical.
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Replies: 14 / Views: 1,684 |
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Posted 08/27/2012 01:55 am
