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 Replies: 13 / Views: 2,052 |
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Pillar of the Community
United States
767 Posts |
As a total new person, (I hate the word "newbie". It sounds like some sort of bug larvae, and I'm a chemical lawn person, so I deal with larvae alot) would you recommend buying special coins because they are double die mint marked to a new person, or would you recommend stacking - buying xf type franklins and barbers?
Curious.
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Pillar of the Community
United States
5198 Posts |
I'm sure if you check out the Bullion forum they might have an answer.
Inflation vs collectable market trends vs. the stock market vs. hoarding lead.
It's all up to you.
Bullion may not give you the satisfaction and history as your basic silver coin might and neither will ward off looters or Zombies.
It all depends on what you hope the gain at the end of the day.
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Valued Member
United States
266 Posts |
Quote:
It all depends on what you hope the gain at the end of the day. I agree. It all depends on what your overall goal is. I enjoy the coins by year, and thinking of the history of the coin. |
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Pillar of the Community
United States
1476 Posts |
 It's the History in them. I Just started to fill a Pres. 1 dollar Dansco Album. It's just awesome to read about the general things that were going on at the times they served. Makes me want to go and Re-Read my history books over and over again. Same with all the Coin types.  |
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Pillar of the Community
United States
1300 Posts |
I also felt the urge to collect. As opposed to stacking... Its alot of fun to put together albums of all the various denominations... And if ya end up with extras fine.. No rules about how you collect or what you collect or anything have fun and enjoy a fun hobby with no rules! And anyone who says otherwise...well they probably arent having fun!! Hahaha  Edited by rupester
06/21/2014 9:12 pm
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Moderator
 United States
187702 Posts |
I collect. I do it for enjoyment, not profit.
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Pillar of the Community
Korea, Republic Of
1881 Posts |
A collector and a hoarder are two different things with a completely different approach to coins.
To a collector, coins are a true piece of history in their hands, and collecting is their joy and pride.
To a hoarder, coins are just another medium of investment.
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Valued Member
United States
256 Posts |
I collect as well as hoard. I will not buy silver bars for the simple fact is there is no history to them (unless its from a shipwreck but I could never afford that.) If I go tobmy local coin store and he doesn't have a key or semi that catches my eye, I'll buy "junk" silver, usually the oldest stuff he has.
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Pillar of the Community
Canada
2805 Posts |
I can't afford hoarding so for me it's collecting by type (date is also expensive!).
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Pillar of the Community
United States
1300 Posts |
All points were awesome but somehow Matteproof...just kind of put a exclamation point on it
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Valued Member
United States
291 Posts |
As echoed in the above comments, do what you find enjoyment in. Unless you are very lucky and/or purchasing rare coins in high grades, it is difficult to make a substantial profit in this hobby.
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Pillar of the Community
United States
6130 Posts |
If you are collecting for enjoyment, collect whatever suits your fancy. If you are collecting for profit, remember the following: 1. Investing in precious metal is risky, just like playing the stock market game. 2. Old, common coins very seldom become valuable at the same rate as inflation--a Buffalo nickel that could have bought a movie ticket in the 1930s *might* be worth enough to buy a gum ball in the present day. 3. Key dates tend to peak in value (both relative to inflation and in actual dollar figures) a few decades after their release. 4. Rare errors and varieties decline in value rapidly as more are discovered--the "godless dollars" discovered in 2007 sold for ~$300 originally and now fetch $50-100. 5. Very few modern coins are worth more today than their original price, and the very few exceptions (Cheerios dollars, WAM cents, various errors) are examples of dumb luck. The Mint is a for-profit entity and will not sell something for less than it is worth. Some on here were lucky enough to actually make a real profit from their collections, but collecting is a break-even hobby for most who pursue it. |
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Pillar of the Community
United States
3789 Posts |
Coins for investment are a long shot at best. They carry more risk than investing in the stock market. Hoarding/stacking coins means even more risk because you are only looking profiting on the way up when you sell. Precious metals are volatile, more so than stocks. Everyone says they can hold for a long time without selling but many times it doesn't work that.
Finally, if something unforeseen happens, you might be forced to sell when you least expected it or didnt want too, resulting in a loss.
One should look at coins because one has an interest in a coin due to its meaning to that person, whether it because of perhaps the country the coin is from, theme or design.
Investment concerns should be secondary in thought. Unless one is following market cycles and is able to understand what coins will be in supply and demand and keep up with that, then one should consider being a part of that market.
if one decides to stack then it should be wisely and not overdone. Hoarding silver coins is not wise.
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Pillar of the Community
United States
8137 Posts |
I collect coins for the history and beauty of the things. Of course if I can make profit while doing it (which I have managed to do) I will not be complaining. |
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Replies: 13 / Views: 2,052 |
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Posted 06/20/2014 10:43 pm
