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Buying Cheap Selling Exspensive?

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Author Previous TopicReplies: 3 / Views: 1,099Next Topic  
Domino
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Australia
10 Posts
 Posted 05/09/2006  01:46 am Show Profile   Bookmark this topic Add Domino to your friends list Get a Link to this Message Number of Subscribers
can u buy a coin that's only selling for...say... one dollar and then keep it till your 45 and sell it cheap?
because I'm only 13 and I have always wondered if that could work

can it?
Bigfella
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Australia
853 Posts
 Posted 05/09/2006  02:00 am  Show Profile   Bookmark this reply Add Bigfella to your friends list Get a Link to this Reply
That is how it is supposed to work. If you buy now at a cheap price and you buy the right thing you will make a profit when you sell in years to come.
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KLD
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Australia
1079 Posts
 Posted 05/09/2006  04:48 am  Show Profile   Bookmark this reply Add KLD to your friends list Get a Link to this Reply
I agree. It works in theory and most of the time in practice.

There are a few exceptions to the rule.

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Susanlynn9
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5877 Posts
 Posted 05/09/2006  08:35 am  Show Profile   Bookmark this reply Add Susanlynn9 to your friends list Get a Link to this Reply
Because there are no guarantees and much depends upon where the gold/silver market is in the future, many collectors do not advise purchasing coins as a "investment". It's nice if you collect coins for the sake of collecting and many will increase in value as time goes on.

I do not believe that very many of the modern coins that are being produced will fall into this category since there are so many being minted. The older coins were not produced in such large numbers and, therefore, get harder and harder to find in high collector grades.
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