hey all, I recently came across a book titled "Profit from Gold and Rare coins now" by Donald Kagin. Was wondering if any of y'all have read this book or have any opinions you would like to share. Namely, is it worth the purchase? Thanks Larry
I've never read it, but if it is anything like the other "get rich quick" books, the only person who profits is the author. Chris
Kagin is a dealer and expert on Pioneer gold. Can't say anything about his investment book, but he has been a legit dealer for years
Agreed -- highly respected, and around for a long time. But his book first came out in 2014, I would hold the opinion that it's all out of date now, everything has changed. The actions of China and India, and the manipulations of big banks, have thoroughly roiled the PM markets. It seems to me that the question is not "how" to do it, but whether to do it at all, plus you have to decide if you are a numismatist or a stacker; you can't have it both ways. Browse through eBay's "Apmex" bulllion deals -- the majority are "pretty" numismatic coins with a substantial premium built into the price, a premium that will evaporate if and when silver (or gold) moves up. Ebay emails me 5 or 6 bullion "deals" a day, they never give up. Even silver eagles are not immune. At this moment, on Apmex, silver is $17.11 (per ounce) bid, and a roll of eagles retails for $20.80 per coin (postpaid), a 22% premium. At the local monthly coin show, if you're willing to buy wildly unpopular "bullion," like War Nickels or 40% Kennedy 50c, you can probably make a deal for 3% under spot... Back to the OP's question, if the book's $3 or less, buy it, it's interesting reading, I'm sure, and there may still be some useful nuggets between the covers.
I have given up on being able to buy low and sell high. My new motto is "Buy at a price and sell at a higher price." An old antique dealer from the area said "If you never turn down a profit, you will never lose money."
Yes, it is. I have read the book and like most books it has some pros and cons. A lot of the advice is solid but not new. He has a whole chapter on Saddle Ridge hoard which is fairly self-serving. He also makes the argument for a "perfect storm" situation where gold,silver and rare coins will skyrocket- but looking back at reading it in 2014 he was incorrect. With all that said, it was an easy read. I like his writing style although some of it can come off as arrogant, that's OK. The guy has been around a long time and has handled some nice rarities. Overall it's worth a peek. Sent from my iPhone using Tapatalk
Being that I am mostly a 'rare' coin collector can I learn something useful from this book? Or can I grasp its ideas by doing a google search?
My personal opinion is that you could glean some nuggets from the book that would be useful. I'd be interested to hear what you thought of it if you check it out. Sent from my iPhone using Tapatalk
Have you checked to see if your library has a copy? Or can get one through Interlibrary Loan (usually free)?
The best way to profit from the gold and rare coin business is to write a book about it. That's what he knows that you don't.
Actually I would argue the best way is to charge people 17.5% of a sales price for the privilege of bidding in your auction on coins you don't actually own. Sent from my iPhone using Tapatalk
In Kagin's case, PHD too often indicates "Piled higher & Deeper." His father didn't have the Ph.D. but was truly a gentleman & a scholar.
All my public library system has is Donald Kagin's books from 1981 and 1985 on the same subject... ========== That's not how you use Inter-Library Loan. Larger libraries have a clerk who makes all the arrangements and tells you the cost* (often zero), then finds a library willing to send the book and let it circulate for 2 or 4 weeks or whatever. You return the book to your library and they send it back to the source. And of course, your library sends out books too. I've been in the Post Office and watched library staff mail out 100+ books at a time. *can be done by phone
The American Numismatic Association offers members the use of their library. Just pay postage and insurance. It might not make sense for Kagin's book if you can pick it up cheap, but if you're looking for an expensive reference book that you only need to use once, then it's a great deal. I don't think a lot of specialty numismatic volumes are available through regular interlibrary loan
