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Topic ClosedCoins as an investment

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silverhawk View Drop Down
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Joined: 30 May 2006
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Direct Link To This Post Topic: Coins as an investment
    Posted: 02 Sep 2006 at 10:45pm
From National Dealer
Let me first say, that I do NOT recommend coins as an investment.
If you build a collection that appeals to you, your collection will never disappoint you.
There are plenty of cases in which coins have made great gains, and proved to be a great investment over time. There are also many cases in which coins have proved to be a horrible investment.
If you are considering making an investment in coins please consider the following advice:
1. KNOW your coins. You need to be good at understanding the grading process of coins. You need to know the population of the coins. You need to know the market for your coins. You need to know the true value of your coins. Despite all those who spout off little facts about the coin market, if you do not know your coins, you will more than likely fail.
2. Stick to rare coins. Coins that stand out (and have) are coins that are rare. This has nothing to do with the grade of the coin. Rare coins are rare because there are relatively few of them.
3. Long term is best. The best collections were built over time, and were sold long after being assembled.    IE: Bass, Eliasberg, Boyd, Carter and others.
4. Buy the best coin for the money.
5. Know your dealer. This is one of the most important parts. All of the great collections were built using a few trusted dealers. A dealer can help you determine how well a coin fits within the grade assigned, and can help your determine the true market. Now this does not mean that you should use his/her word as if it were etched in stone. Building a relationship with a dealer (or few) is much like building your collection. It takes time and patience. However, it will be one of the best moves on your part if you follow this advice.

Edited by silverhawk - 02 Sep 2006 at 10:45pm
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