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 Replies: 21 / Views: 2,248 |
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Valued Member
United States
264 Posts |
I am currently assembling a small coin collection to tuck away in a safe deposit box in the bank for my son to open at a later date. I want to spend around 5 thousand dollars. What do you guys think are some sets with a lot of potential to increase in value? In other words, if it was your son/daughter what would you put in there? So far I've considered a set of barber, mercury, and/or Roosevelt dimes. Washington silver quarters, a complete set from 1932 through 64 in high grades. Franklin halves all in BU condition. A complete set of peace dollers all in the MS 64-65 range. Eisenhower dollars, which I sort of think are currently undervalued. The high grade ones that is. I've also thought about only purchasing certified key date coins, but I want the collection to be pretty diverse. Any advice would be very much appreciated. |
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Pillar of the Community
United States
4085 Posts |
What is the intent of the set? Is it price appreciation or simply having a nice coin collection someday.
If it is price appreciation, I think that's a difficult one to call because it involves in part a crystal ball to see into the future.
If it is to have a nice coin collection someday, I personally don't think you can beat a type set such as the 7070. Lots of history and a broad cross-section of coins.
Ken
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Pillar of the Community
United States
1081 Posts |
Quote:
If it is price appreciation, I think that's a difficult one to call because it involves in part a crystal ball to see into the future.
If it is to have a nice coin collection someday, I personally don't think you can beat a type set such as the 7070. Lots of history and a broad cross-section of coins. I agree. Personally, I love Indian Head cents and their value does seem to be increasing over the years. However, you also want to consider how large of a collection you want. A few key dates can use up all of that money very quickly such as IHC 1877, 1909s VDB Lincoln Cent, 1914d lincoln, 1916d Mercury dime etc. Some key date morgans can cost that much in high grades. If you do that, you may only come out with 5-6 coins. It sounds to me like a better option for you would be to purchase a variety of perhaps semi key dates or just nice examples of a type set as mentioned already. |
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Moderator
 United States
23522 Posts |
Keep in mind: true rarities tend to stay strong values over time. Everything else is cautiously-optimistic speculation. There are many, many second-tier (pretty good bet) options. Keep your child in mind by making smart decisions about which specific coins you buy, and buy to satisfy what you like today.
If you do not consider yourself a collector, and are doing this only as an investment for your child - and that's a perfectly honorable intent - then do your due diligence and invest that sum in just a half-dozen or so high-quality rarities whose demand will not fade with time.
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Pillar of the Community
3660 Posts |
Quote:
What do you guys think are some sets with a lot of potential to increase in value? Forget "sets".... collectors do not buy "sets" unless they are a bargain, and that trend probably won't change in the future.... You seem to be focusing on potential for long term gain, but you should also be thinking about potential for long term loss as well... There are no real guarantees that there ever will be an increase in value, but a coin that exhibits the combination of top condition and true rarity is your best bet for success. Quote:
If you do not consider yourself a collector, and are doing this only as an investment for your child - and that's a perfectly honorable intent - then do your due diligence and invest that sum in just a half-dozen or so high-quality rarities whose demand will not fade with time. That is the best advice anyone could give... embrace it. |
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Moderator
United States
188026 Posts |
If you want them to keep the coins (that is, not cash them in as soon as they get them), then I like the 7070 idea. Of course, I am also biased towards Eisenhower dollars.  SuperDave gives excellent advice if your goal is future monetary value. You can even start a 7070 or similar type set with this goal in mind. |
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Valued Member
 United States
264 Posts |
I like the idea of putting away a half dozen or so really special coins. I was already leaning in that direction. I also like the 70 70 idea, but that's a task I want to tackle with his help when he gets a little older. Now the tough decision is which keys to zero in on. One can drop 5-6 grand in a hurry on certified high-grade key date coins.
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Valued Member
United States
264 Posts |
@DavidZerbato...I too like Indian Head cents. In fact I got him one of the keys already. It's one of two coins I have put back for him. They are quite certain to remain a popular series in the future in my opinion. I may get him a nice 1877 as well. |
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Moderator
United States
23522 Posts |
You prove yourself to be already thinking clearly, Landon. Nice to see.  I'll throw a few ideas at you: Stay away from gold for the moment; prices are somewhat inflated due to speculation, even with coins valued for their collectible features. 1909-S/VDB and 1955 DD Lincolns. Early (pre-1800) anything. Nicer Seated dollars. Higher-grade (Mint State) Bust Halves. Pre-1900 Proofs of most issues. Morgan dollars at and over MS65, excluding the (relatively) common early San Francisco issues. You'll still have to do your due diligence with these, ensuring they're genuine, properly graded and being purchased for a reasonable price, but I do not believe any of them will do you wrong in the long term. |
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Valued Member
United States
264 Posts |
Thanks, SuperDave. Those sound like really good suggestions. Pretty much everything you suggested are coins I really enjoy, so I'm happy to hear they have potential. Now all I need is a trustworthy dealer. I live in a small town in Virginia, the closest coin dealer is 60 miles away and doesn't really carry anything. I'm not quite ready to purchase high-end coins though, as I still have a couple books to read and lots of research to do. I try to learn everything I can about a series or particular coin before making the leap. I by no means have money to burn, so I must be careful with my decisions. He can either take ownership of a several dozen common date/common condition coins that everyone and their granny own, or have a few coins that truly are rare and special. I know if it were me I'd pick the latter. In 20 years I'd imagine pre-1800 coins in nice condition will be far more scarce than today. Thanks for helping steer me in the right direction.
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Bedrock of the Community
United States
10284 Posts |
I hope that you will buy professionally graded coins rather than raw coins from a "trustworthy dealer".
Since you are not a knowledgeable collector, you are putting yourself in a highly vulnerable position to be had.
Knowledge is always the key.
This is almost like one of those topics we have had, like, "If you had 5,000 dollars to invest in coins for 30 years down the road, what would yo buy?"
Good luck! If I were you I would learn all I could about certain key coins before I fork the money over for them.
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Valued Member
United States
264 Posts |
By trustworthy I mean fair prices. The only two expensive coins I own are both in PCGS holders. I have a rule that if I spend more than 200 for a coin it must be certified by PCGS or NGC. I'm new to collecting but not that new. It is nice to have a dealer nearby so you can see coins like you want in person. I've been looking at value trends, reading books, and conducting all the research I can on the coins I'm interested in. No one around me in the real world has any interest in coins, and think the idea of paying a thousand dollars for a single coin is sheer lunacy. So I came here. I just wanted to see what others thought. I realize no one can predict the future.
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Pillar of the Community
United States
1510 Posts |
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I have a rule that if I spend more than 200 for a coin it must be certified by PCGS or NGC.
good rule--also dont tell the wife.... Retired USAF 1983-2003
Edited by Coinstar
01/07/2011 7:33 pm
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Pillar of the Community
United States
594 Posts |
A set of American Silver Eagles.
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Pillar of the Community
United States
952 Posts |
I agree with the comments abt the rarities that will not fade with time......esp in the series that are popular (and very likely continue to be) like indian and lincoln cents, buff nickels, mercuries, slqs, walkers and morgans.
Just my 2 cents
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Pillar of the Community
3660 Posts |
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No one around me in the real world has any interest in coins, and think the idea of paying a thousand dollars for a single coin is sheer lunacy Depending on just how affluent you really are, you might want to listen to those around you in the real world....  |
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Replies: 21 / Views: 2,248 |
Posted 01/07/2011 10:18 am
