Strategy In Buying Classic Silver Coins

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Author	Replies: 7 / Views: 1,409
captainkurt Pillar of the Community United States 1406 Posts	Posted 02/04/2015 10:44 am I have only been collecting for about ten years, mostly from circulation. When I inherited my grandfathers collection I expanded my focus into classic coins not easily found in circulation today. He had a gas dock/marina and pulled mostly from circulation. I have bought and sold over the years with the rise and fall of silver prices and family budgeting needs. I know that quality is always better then quantity as a numismatic rule but I'm the type of collector who likes complete runs of coins. I'm also sort of a business minded type and have come up with a theory in regards to collecting classic silver coins. When silver prices are low I try and buy coins of lower quality closer to melt value. When silver is high I focus on higher quality coins. The thought process behind this is that if silver rises then the lower quality coins will rise in value faster then the higher quality coins, thus enabling a higher return if sold and upgraded at a later time when silver pulls back again. Is this a viable strategy? Edited by captainkurt 02/04/2015 10:44 am Report this Post to the Staff

T-BOP Rest in Peace United States 18456 Posts	Posted 02/04/2015 10:51 am somewhat ! Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 02/04/2015 10:54 am Quote: Is this a viable strategy? Yes. However, there is additional market volatility unrelated to metal value in higher-grade coins so it behooves you to get a feel for price trending while you shop individual issues. Report this Post to the Staff
muddler Pillar of the Community United States 7191 Posts	Posted 02/04/2015 11:00 am When I was young it was about filling the hole in the in the album. When I matured I was compelled to upgrade the earlier purchases to better quality examples. To me now I find this counter productive as I now have purchased the same coin twice with the older one going into the silver scrap pile. I inevitably have paid more for the quality coin today than I would have 20 years ago. At least my junk silver is building this way. Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21788 Posts	Posted 02/04/2015 4:34 pm An excellent selective strategy! To get the material you are looking for at the best prices, a lot of trolling through ebay, dealers, coin shows, and here on the CCF is needed. Will need lots of spare time on the keyboard, but lot of fun will be a bonus. Report this Post to the Staff
captainkurt Pillar of the Community United States 1406 Posts	Posted 02/04/2015 4:39 pm I guess to some degree I am a hole filler. I also need to learn more about price trending. Is there a way to see historical price information on individual issues or key dates? Charts even? I am buying again after a long three years out of the hobby. I did very well selling my lower grade silver a few years ago while retaining the nicer stuff. I'm trying to decide which direction to go on a limited budget. I don't really find it counter productive to upgrade as long as I can sell other coins without losing and hopefully at a profit. I am questioning the above theory because I know the history of silver prices and not only is it a tricky market I don't really know much about the price history of classic coins in higher grades. Is the classic coin market as tricky as silver markets? Will you have a higher return (thus enabling you to buy more:) buying quality higher grade coins or rotate more inventory trying always to play the markets while upgrading? The classic quantity vs. quality dilemma I guess. Report this Post to the Staff
Gyrene7483 Pillar of the Community United States 1704 Posts	Posted 02/04/2015 7:04 pm Quote: Will you have a higher return buying quality higher grade coins In the long term this is usually a good strategy. Quote: or rotate more inventory trying always to play the markets while upgrading? Short term trying to play the markets usually does not work because you will be doing good just to get what you paid for the lower grade pieces you are selling to buy the upgraded coins unless you can buy in quantity at or below wholesale levels. Then you have a chance of being successful. This type of strategy requires a lot of knowledge and is a lot of work and you have essentially become a coin dealer. My collecting strategy is to buy quality original, problem free slightly better date/varieties when the opportunity presents itself to fill the slots in the type sets I am assembling. I also buy the same types of quality non related coins I just like. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 02/04/2015 7:38 pm The only tricky thing about the silver market is understanding you don't get to decide when to sell. So you have to buy with the willingness to wait until the market reaches your price. Maybe twenty years. Report this Post to the Staff
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