Need Investment Advice

Thanks for everyone's replies. Sounds like as an investment, my money is best put into my 401k. I enjoy the modest collection I have, so I'll keep checking my change, and pick up a few reasonably priced coins occasionally.

 

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Investment advice? Don't invest in coins.

 

Investment advice? Don't ask people on a coin forum.

 

I disagree with the others. I do think collectible coins are a good investment. Coin collecting will ALWAYS be a hobby, unless the word ends then I guess it dosent really matter does it. With that being said I do think you can expect to get what you bought them for or maybe even more because think about it, if you buy a 1917 coin that's in mint state now and in 50 years when you sell it, it's still in mint state but even older! I sure would hope the older a coin gets the more it's worth, that's how every collectible works no? I love collecting coins, i don't buy them thinking they are going to bring me profit though, I look at them as a savings account, a fun one.

 

@Camreno how's that stamp collection doing?

 

I assume your trying to make fun of me some how some way, but I won't stoop to your level. I'll just simply say I don't collect stamps.

Next.

 

You calling me short?

 

Sorry should have said snoop, would have went with your picture.

 

I think it's a mistake to ask people for investment advice of any kind. If someone really knows the answer why should they tell anyone? If I thought coin X would double in six months I wouldn't even be here. I'd be trying to get my hands on as many X's as I could.

I think investing is mostly anticipating the future. Yet most advice I read is anticipating the present to keep on truckin.' Or hasn't anyone noticed how many investment roads in CT lead to wallstreet?

Here are three not so secret tips to increase your chances of success:
1. Knowledge
2. If you are entrusting your money and future to the advice others, ask yourself why?
3. Understand the coin collector
psyche. In order to do that you have to be a coin collector. And probably a bit Abby Normal.

BTW one stamp collector isn't doing to badly.

https://www.bloomberg.com/news/arti...s-portion-of-stamp-collection-for-4-5-million

 

It doesn't mean you cannot buy coins, it is only you shouldn't ever rely on them as an "investment".

My rule of thumb is buy coins with hobby money, ie money that you could waste at a casino, a bar, boating, or other things you do to enjoy life. If that coin gives you $700 in pleasure over the time you own it and it will not change your lifestyle, then buy it and I am happy for you.

Yes, our hobby leaves us with things of value when we are "done" with them, but due to high buy/sell spreads, market changes, etc should not be relied on to retire on.

Just my opinion.

 

Um, no, age has zero factor in the price of a coin. I have 2500 year old coins worth $50, and a coin minted 5 years ago can be worth much more. Until you understand that fact, and WHY this is true, you really shouldn't be spending much on coins.

 

I'm also interested to know one of the answers to OPs question about the coin market. Where is the coin market as a whole right now? There was a spike in prices and collectors in he late 80s early 90s. I wonder where we are now since this is all new to me.

 

Baseball cards!
Postage stamps!
Beanie babies!

Chris

 

It's possible to make money on coins long term but it's more of a gamble than an investment. Not something you can depend on. Smart decisions on what you buy may increase your chances but you must keep in mind, the cost of selling.
It's safer to just start a savings account.

 

I also disagree with that. I think it depends on the coin, the older it is the more rare it becomes, coins get lost destroyed ect. With that being said I do think MS coins will be worth more in the future. Example, say there were only 2 1909 s vdb in the world, 1 gets destroyed in a fire. What do you thinks gonna happen to the other coin? Sure on a larger scale it won't be so noticeable of like a certain coin having 100k in existence, but what about in a couple hundred years?

 

A savings account with paper? No thanks

 

But you might be able to get .001% interest.

 

Is that before or after inflation?

Chris

 

+1

 

You are assuming anyone wants them. I have SL halves that have 1/40th the mintage of a sVDB yet sell for just a fraction.

Demand is what you are missing. You are assuming demand goes up contiuously for all coin series. Ask collectors of classic commemoratives, baseball cards, and other things how that assumption sometimes works out.

Its a common mistake newcomers make, older must be more valuable. I can buy some roman coins for $5. Age literally has NOTHING to do with value. I literally have a 1500 year old, gold coin worth maybe $500. It is also unique. Supply and age is meaningless without talking about demand.