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Posted 03/30/2011 08:43 am
<slap> If you want to collect something for investment purposes, buy coupon bonds and collect the coupons as they become due.</slap>
Despite the people who would like you to believe otherwise (like pcgs, which has made over a half billion dollars in a failed attempt to make coins an investment media), coins are a collectable, not an investment.
That's not to say you can't make money from a coin collection, just that profit should not be your motive.
Collect what you like, and never pay more for a coin than it's worth for its enjoyment value. If you pay $100 for a coin because looking at it and showing it off gives you $100 in pleasure, then if some day you have to sell it for $50, you made a $50 profit. Buy the same coin for the same price even though you don't find it appealing, and you had years of no enjoyment and ultimately a $50 loss.
Buy nice looking coins. They will always be in demand. Let a six-year-old girl help you; her mind is not cluttered with future value, metal content, MS grading, rarity and all that other crap, so she hones in on pretty.
Despite the people who would like you to believe otherwise (like pcgs, which has made over a half billion dollars in a failed attempt to make coins an investment media), coins are a collectable, not an investment.
That's not to say you can't make money from a coin collection, just that profit should not be your motive.
Collect what you like, and never pay more for a coin than it's worth for its enjoyment value. If you pay $100 for a coin because looking at it and showing it off gives you $100 in pleasure, then if some day you have to sell it for $50, you made a $50 profit. Buy the same coin for the same price even though you don't find it appealing, and you had years of no enjoyment and ultimately a $50 loss.
Buy nice looking coins. They will always be in demand. Let a six-year-old girl help you; her mind is not cluttered with future value, metal content, MS grading, rarity and all that other crap, so she hones in on pretty.
