| Author |
 Replies: 30 / Views: 4,656 |
|
New Member
Canada
1 Posts |
Hi All,
I'm thinking of starting my collection with a 1948 One Dollar MS-62 for around $2300 - I'm hoping that any coins I collect will go up in value in the next 20 years.
Any tips or places I should look for a new collector?
Nice to meet you all and hope this is the proper forum to ask
|
|
|
|
Pillar of the Community
 United States
1299 Posts |
Welcome. A the risk of being a naysayer, I always have looked at a 1948 dollar as a bit of a widget. The mintage was relatively low, but it was hoarded. At any decent sized Canada coin show, you can find a half dozen in mint state.
|
|
Pillar of the Community
Canada
9732 Posts |
1948 dollars are among the coins least likely to go up in value.
They are overpriced now, their value is mostly hype, they are by no means scarce.
"Dipping" is not considered cleaning...
-from PCGS website
|
|
Pillar of the Community
Canada
5308 Posts |
First of all you should find an area of collecting that you like, 1 cent 5 cents, dollar, toonie, errors, specimens, it just narrows your thought process and much more enjoyable. Go join a local coin club the vast majority of members are very helpful and knowledgeable, ask questions. Buy the best grade coin you can afford, remember there is good graded ms 63 and really crappy ms 63. Lastly you should not buy a tween grade, a ms 63 is much more popular than a ms 62, welcome and enjoy the hobby, this is not an investment but more of just a cool hobby to enjoy and meet fellow collectors.
|
|
Bedrock of the Community
Australia
21673 Posts |
joh882:  to the CCF ! If you are going to invest in coins, spread your investment around, over many coins. Why? Less investment risk. --------------------------------------------------------------------------------------------------------------------------------------- Most people who have significantly valuable collections have built them over a long period of time, and have a large number of coins in their collection. In most of these cases, investment was not the main motivation for acquiring each coin. I have collected coins for most of my life, but I have always tried to get best value for money for each coin that I have bought, but I realize that there are much better long term investments to be made than coins (stock market real estate etc.). My superannuation investments are NOT built on coins, despite a lifetime interest in numismatics. Although my collection is relatively valuable, eventual selling for a profit was the least of my motivations for buying. And yes, the value of my collection over the long term has had a better investment performance than inflation, but that is in part due to opportunistic cherry pick buying. That is, I have always bought well. (Same as a coin dealer, but I don't sell, I only collect.) Edited by sel_69l
11/08/2019 5:37 pm
|
|
Pillar of the Community
Canada
3733 Posts |
1948 silver dollars, are not great investments, unless you can buy under trend value. 1948 does sell near trends, so there isn't much upswing or room for profit..
|
|
Moderator
 Canada
10449 Posts |
Quote:
First of all you should find an area of collecting that you like, 1 cent 5 cents, dollar, toonie, errors, specimens, it just narrows your thought process and much more enjoyable. Go join a local coin club the vast majority of members are very helpful and knowledgeable, ask questions. Buy the best grade coin you can afford, remember there is good graded ms 63 and really crappy ms 63. Lastly you should not buy a tween grade, a ms 63 is much more popular than a ms 62, welcome and enjoy the hobby, this is not an investment but more of just a cool hobby to enjoy and meet fellow collectors.  . This. The only way your collection acquires value is through knowledge and experience. But, it is the underlying passIon of the hobby that drives us to collect in the first place.
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
|
|
Pillar of the Community
United States
1316 Posts |
I'm not sure coins, especially ones that aren't truly rare, are anywhere close to your best ROI as an investment. I can double or triple my money picking garage sales in a Sat morning with little risk, this coin will never come close to that. The heart of this market are hobbyist collectors and the bullion hoarders; there are speculators that go after the rare stuff, but markets can be questionable as far as long term returns are considered. If you do it, I hope it's moreso as an enthusiast.
|
|
Pillar of the Community
United States
7171 Posts |
Wise investments = putting money into a low cost mutual fund.
|
|
Pillar of the Community
Canada
576 Posts |
Collect what you like and just enjoy the hobby for its obvious benefits. Collectibles in general are soft now and will get a lot softer. Buy coins that have eye appeal and that you can acquire at friendly prices. Learn to pass on what sellers want too much for.
|
|
Moderator
United States
171046 Posts |
to the Community!
|
|
Pillar of the Community
Canada
5273 Posts |
INVESTING in Coins is foolhardy at best .
Collecting coins for the enjoyment of having a hobby that is fun
and that results in an expanded knowledge of history , geography
and economics .....priceless!
|
|
Pillar of the Community
Canada
1686 Posts |
Quote:
INVESTING in Coins is foolhardy at best . That is a straight answer. Have fun collecting, but do not think you will make any profit. It sucks, but it's true.
"We are poor little lambs...who have lost our way...Baa...Baa...Baa"
In memory of those members who left us too soon...
In memory of Tootallious March 31, 1964 - April 15, 2020
In memory of crazyb0 July 27 2020. RIP.
In memory of T-BOP Oct. 12, 1949 - Jan. 19, 2024
|
|
Moderator
United States
171046 Posts |
Quote:
Have fun collecting, but do not think you will make any profit. It sucks, but it's true. 
|
|
Pillar of the Community
Canada
844 Posts |
I bought a 1948 silver dollar four years ago. It completed my silver dollar collection and I like silver dollars. I bought it for reasons not connected to investing. I could buy another today for about the same price. If I sold mine today I'd likely lose 15% because dealers and ebay seem to like to make a profit (I don't blame them). I don't regret my purchase. |
|
Valued Member
United States
231 Posts |
interesting topic and I have same questions
|
| |
Replies: 30 / Views: 4,656 |
Posted 11/08/2019 2:13 pm
