So, you are in charge of a coin investment fund. What would you do?

Don't forget to make very large political contributions.

 

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Um, ya think?
Thinking back this meeting was held at a very good Greek food place.
I looked over the paperwork and it was very well drafted by a lawyer or two as an investment group/club.
Start up went well into the first month or few months until someone got butt hurt and made a call.
Lots of interesting players, lawyers, doctors, accountants, white and blue collar dudes and even a few females.
Coin enthusiast and investment types.
A few people were out some money because of the shutdown but today anyone who got the first set of American Eagles was ahead of the game.

 

It sounds like a variation of the chain letter scam that somehow keeps resurging every once in a while. It's just a pyramid scheme which requires a constant supply of new recruits eventually leaving somebody at the bottom holding the bag.
https://consumer.ftc.gov/consumer-alerts/2020/05/game-chain-letter-scam

 

Does it really leave someone holding the bag OR hear me out... just slow down to a snails pace and
Get forgotten about?
It's not like it times out at a certain date.
Remember the saying there's one born every minute.

 

Most of the "coin" funds failed due to lack of oversight, intent to defraud and criminal activity. That is not relevant to the ability of a coin fund to be successful. If I remember correctly, Noe was actually making money off of his $50 million, he just had some problems with "other" things. The fact that there are many profitable coin companies that have survived for years upon years is proof that it could work.

 

Investments? Try US Treasuries, which are paying manageable interest rates for the first time in well over a decade.

 

So, what a lot of you are saying is that the people that “invested” in let’s say, US mint coins like, let’s say, the 2001-D Morgans were dumb and didn’t make any money?

 

Xxxxx

 

@ToughCOINS

I can agree with you on that, but what is a hedge fund? What are futures? What is most of any “market?” Is it not speculation?

 

As with any open fund, there are riskier parts. Unless you have a specific fund that prohibits certain risks, you will have some speculative parts. In the end, that is not really addressing what I’m asking. I can’t count how many times I’ve heard on this board, “you can’t make money in coins” or “you can’t invest in coins and make money.” I’m dumbfounded that people believe this. There are so many examples of how that statement is 100% wrong. As soon as the idea of a coin fund is introduced, everyone goes into that mindset. A coin fund has some particular issues that would require some serious thought, yes, but it is doable. Yes, there have been failed attempts. But, showing a chart to reference 1 year that was bad, which was 33 years ago, I might add, and not also mentioning that the same chart (the PCGS3000) shows that as of today, the index has a +7,027.15% return, is part of the mindset of, “coin funds won’t work, period.” So, with an industry chart of coins showing a +7027.15% return since 1970, does everyone believe that no one is smart enough to make that work as an investment? If so, this is not your thread. If not, then what do you believe could help make it work?

 

It’s the mindset, I didn’t reference a specific statement. But, you and I debating semantics and minutia is not going to add to the thread.

 

No problem. Good luck.

 

There are a couple auction firms that I know of that purchase rare coins as "investment funds" for clients. These are generally excessively rare coins that rarely appear in the market and get traded behind the scenes.

Perhaps more networking may help.

 

Don't forget the rest of that outcome - age 30, living in your childhood bedroom under house arrest, with an ankle monitor. By tomorrow your parents have to sign away their house as part of your bond, or it's back to jail you go (a nice one this time, vs. the one in the Bahamas).