Got the wife convinced finallyyyy!!

I have only been on here for a few months and have learned alot.I have been telling my wife for months that coins are grate investment for down the road and with the "retirement"fund that she is in losing money every month she has FINALLY come around and is will to do coin collecting with me(small steps 1st).I have a good start with what i got from my dad when he passed (93-95 silver eagles,86-97mintsets)What i would love from all of you is help on where to look for coins other than e-bay,I only have one coin dealer near me in canandaigua who has been helpful.so any link to a place you trust or of a coin show near rochester ny.And any suggestions on where to start would be grate.I was thinking maybe morgans or more mint sets.thanks for any help. jerry peace

 

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Heritage Auctions -- www.ha.com

 

There's a list on here of dealers that are trust worthy but pick up a magazine & you'll find tons of dealers. Don't order from Littleton they charge 5 times the value, Simms says he's selling you a BU but it's an AU or less.

Also check out the dealer adds that flash on these pages.

Feel free to shop & compare. Watch out for pricing, grading, shipping costs & Return policy.

 

I don't know where you heard coins are a great investment. Many around here will tell you otherwise.

 

Yeah - what Peter said. Bullion coins could considered an investment, but I would never tie up all my money in that. Coin collecting should be fun and a hobby. It is not that you can not be smart about your purchases and sometimes resale for a slight profit - but a lot of learning first. Plus at this time I would stick with the retirement fund - invest when it is low and I believe it will recover quicker than you can start making profit off coins.

 

i also ditto that comment.

DO NOT do it for investment..

 

I agree.

 

Here is list of dealers and resources.
http://forums.collectors.com/messageview.cfm?catid=26&threadid=607798

 

Have you seen Heritage? A lot of stuff goes really high there but I have picked up a few great deals (it just takes patience).
http://coins.ha.com/

Patience is really good with coin collecting, really really good. Do a bit of reading first, especially on Morgans (there is a lot to know about those, just the Carson City ones alone would be a good study).

 

One more that will say it.

Don't look into coins as an investment. It can be if you have the money and a LOT of experience helps.

I have done well with many of my coins "on paper" and check auction results to keep in tune. I HAVEN'T sold my better stuff though so I can't honesly say I made money.

I figure I will when the time comes but just buying and flipping can be a very risky business as can buying and hoping.

Don't throw all of your eggs into the coin basket.

 

Heh...I was thinking the exact same thing as all the others when I saw your headline post...coins are usually a pretty bad investment, unless you are willing to invest a LOT of time and energy into learning everything you can about a subsection of coins, then invest a LOT of time and travel expense to chase them down. In the long run, it's for enjoyment - not for investment.

 

I agree with the coins are not an investment thingy.......

And remember this, even more important:

Wives forget NOTHING. Ever. Never. NEVER.

Your investment may come back to haunt you in a very non pleasant manner, especially if you need the money badly.....desperate seller situation. " YOU SAID THESE WERE AN INVESTMENT !!! " and we got $xxxx for them, they cost us HOW MUCH ????????

 

Been there done that. I've sold coins and silver and gold bullion and let her go on shopping spree's with sometimes with 1K in cash. Sometimes I really think I need to get out. Constant nagging and the cold shoulder for weeks on end is very unpleasant to me.

 

If you are going into coins for investment, do not rely on rarity as investment value. Those values are incredibly subjective. Go by melt price if you plan on purely investing in coins.

 

hooray another one from rochy one of my friends friends opened up a coin shop there ill try to get a website for you

 

scaring young people AJ.

folks i can guarantee you this has never ever happened to me and this will never ever happen to you if you take my special class

 

And what does that special class consist of?

 

Stop strong arming your wife. Do NOT do this at the expense of funding an IRA or 401K just because that account happens to be losing money right now. It's completely unfair of you to leverage that against her if she's been a prudent long term investor by putting money in a tax deferred retirement plan.

If you stop funding a retirement account every time the market goes down, all you succeed in doing is depriving yourself of the benefit of dollar cost averaging.

 

how to avoid the above mentioned situation

 

Click the goldline link they do investing in bullion & coins. But you have to have a lot of money to start off with. It's not as risky as the stock market but it is just like the stock market.