My First Set of Coins/Bullion for my Collection

Now that I've looked them up, you did ok on the silver dollars assuming they look nice and don't have any major issues or ugly toning.

8/7/09 sheet prices are:

'23 in MS65 120 bid 130 ask
'82-cc in MS63 195 bid 215 ask

The prices you paid seem fair if they are decent looking coins.

 

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The 82-cc did have a little toning at the bottom. When everything arrives, I will def. take pictures.

I might have to resurrect this thread in about 1.5 weeks since that's how long APMEX says it will take for me to get for whatever reason.

 

The 23 should look like this

https://www.apmex.com/Product/4834/1923_MS_65_PCGS_100.aspx

and they took the 82 cc off the list.

 

It's off because I bought that one, lol

 

They normally leave them up until they have "good" money, at least that has been my experience.

 

Once they have good money it will ship that day or the next, generally. They give you that one week window so you do not get your hopes up. It's called under-promise and over-deliver. Did you wire money or mail it in?

 

Not sure what you're saying there, but my money is good. The order has been placed and they have my funds so.. yeah.. it's a done deal.

Response to your second post: Debit card.
What do you mean by under promise over deliver? Not sure I follow you.

 

I was not saying your money was no good, but they want it cleared and into their account. If you can go online and see if the transaction was actually posted out of your account or pending. My intent was not to insult you, just give you the real info.

If they tell you it will be shipped by 8/21, that is their promise. If they ship it on 8/18, that is over deliver by sending it to you well before the ending date. See what I mean. I would guess it will ship Mon or Tues at the latest.

I just got from them today an order of the following.

1 each 1986-1992 1 oz Silver Eagles
1 1oz Silver Philharmonic
1 1 oz Canandian Maple leaf

I left the invoice in my office so I cannot tell you what I paid exactly. I did it to see what the Austrian and Canadian looked like and check out what type of random stock I would get in the early years. The ones I have are not bu, and what they sent are. For some reason the early years I received have much nicer fields than the 09's I got a couple weeks ago. I have not looked at the Maple or Philharmonic, personally I like the eagle better, but they are all awesome in their own way. I like the way Elizabeth II is all polished on the Maple and the Philharmonic has lots of "line definition" but I think the Eagle has more "eye" appeal.

You did fine and I would not worry what anybody thinks. It is your money and you earned it, do with it what you wish.

I want to mention again that US mint product is a more proven method of bullion than the bars and other rounds. Most silver investors will tell you the same unless you can buy the other bullion at much less premium.

Don't worry about it at all. For as long as you plan to keep it, you are in great shape.

 

Thanks for your post. I in no way took that as an insult, lol, just wanted to make sure we were on the same page.

The reason I look for other's opinions is because I want to know in my mind that I made the right choice for future financial value appreciation on these coins and I won't just be sitting on them for years and not making squat from them down the road. $20 profit in 10 years on a coin I pay $200 for is not something I'd like..but i feel i did enough due dilligence to have a high probability that this morgan and this peace may be worth a little something down the road, even though the peace is a very high mint, i still bought it at what i believe is a good value.

On this note, what are some good long term coin investments? Like the 3 legged 1937 buffalo nickel, etc.

And by the way, Peace, what is the US Mint's website to order silver off of?

 

That last question is a better question for others to answer. I have not had much luck ordering off the US Mints website, mostly because I have not really tried. I do want to give you this link that has some awesome info in it if you care to read it. It is brief but it totally got me into it. Please keep in mind that the prices they list on the coins are retail and I don't know how often they update them. The other info just rocks. I use it as a guide and coins are as hot as blue blazes right now.

http://www.us-coin-values-advisor.com/coin-values-blog.html

The only other thing I would say about what you purchased it to buy the Silver Eagles. I prefer the earlier years, 2008 had 20 million and this year as a guess it might hit 30 million. They are hot and if you dig you can buy the earlier years for a couple bucks over spot, most dealers want at least 3 but if they are hurting for cash they will make a deal on lots of 20 or 100. (that has been my experience) I have never bought them for less than 1.49 over and that was a special at APMEX.

If I were you I would also check out the bullion section of this board, there are much smarter cats on there than I, at least I use some of the info after disecting it.

 

BNBAnalytics I don't want to hurt your feelings but on a scale of 1 to 10 you probably did about a five.

You mostly purchased silver bullion at higher than spot or $16.17 per ounce on average and have to hope that silver goes up as there is no real premium to silver bars. There is a chance it will so you can do well.

You mention being a coin investor though and this is just silver bullion in bars, there is no coin in there.

In contrast you could have purchased a gold coin for instance that in 30 years may go up many times to its gold value, I think that is what you are talking about.

It takes time to find the right coins to do that, sometimes the mint sells them or you can find them in auctions. Rarity is what will make you profits as a coin investor IMO.

 

Hi, I tried to PM you, but I guess that function was disabled.

Before I start, did you see that I do have coins in this bundle? For some reason, I feel you may have missed that and only think I bought bullion or coins for bullion. I bought some bullion and some coins.

Anyway, I'm actually not hit too hard by your comment because I still believe the 2 coins I got(the 1882-c ms 63 morgan) and (1923 ms65 peace) are good deals and I could probably flip them or sell them in a few years for a profit.

However, regarding the bullion, yes, I did overpay on that. But, my question is, for the 100z bullion bar, how is it possible to not pay over spot from a retailer like Apmex? I don't know where to buy wholesale and am surely not connected with any wholesale dealers at the moment, so, my question to you would be, how would you buy 100oz silver bullion not over spot? Also, where are most of you getting this $16 figure from? Is this on all the silver I bought or just on the 100oz bar, because if I'm correct, silver was at 15.00 when I bought this bar, and I paid 1,580 so that's about $80 over I paid for the 100oz. Now if you're talking about the silver eagles and the 4oz $100 silver dollar, I'm sure those weren't any deals, but I just wanted them just to hold onto them.

Thanks and I'm still looking for a few of you that could help give me some specific dates and mintages on some U.S classic coins that you see as having high investor value that I can buy and hold onto for a couple of years.

Thanks

 

I gave you a great link in post 30. It has for free performance for the last 60 years of the coins you bought. If you want more infor you can subscribe for a fee and get even more info. I'm telling you to take a good look at it. There is good investment advice on coins in there but you will need to do some work and study the info or pay for their results.

 

If your sole motivation is an investment, then I think investing in coins is a really bad idea. This was popular in the 80s when coin value ran up very high when there were coin funds available on wall street and they were buying up everything they could. Your silver dollars were probalby worth twice as much then as they are now!!! And classic commemorative coins were worth significantly more in the 80s than they are now for the same reason... So don't be too confident that you'll be making money on these in a couple of years.

Those coin investment funds disappeared because the coin market pretty much crashed. Those funds were buying certified coins based on the grade on the holder and as you will learn if you haven't already, all coins in the same grade holder are definitely not equal in value. An MS65 Morgan that has tons of bag marks and which is common white color may be say $150 or so, but that same date, mintmark and grade coin that has fewer distracting marks and/or some nice color could be worth twice and much or even more. To have a decent chance at making money in this hobby in the long run, you need to educate yourself as to the coins you're buying and then buy good coins for their respective grades. It takes time, patience and the collector's spirit to do this successfully, in large part that's why the investment firms failed.

Additionally, rare coins aren't very liquid like bullion. In order to get retail price for them upon sale, you'll likely have to consign to a dealer or a major auction house (who will take 10%-15%). And then, you're subject to the market for that particular date and grade and the buyers just may not show up that specific date. For that reason they are not that great from a purely investment perspective. For example, there was a particular dime I was watching in a recent auction that sold for $24,000 in 2005. In 2009, the dime went unsold at a reserve of $13,500 (I was the high bidder before that at $11,000). So, if the right buyer doesn't show up on the sale date, you could lose a bunch.

If you're just an investor, stick with bullion as that is much more liquid and you're only subject to changes in spot prices for the most part. And try to buy for melt value when you can. Of course the retail houses like APMEX will charge a premium because they have to stay in business. To buy at wholesale levels you need to buy from fellow collectors on either eBay or on coin forums like this one. But beware of scammers too. I was scammed on a $1800 junk silver purchase last year, but fortunately I paid via PayPal w/ my credit card so my card company reversed the charge.

But if you're into coin collecting as a hobby, then by all means take the time to learn about coins, learn what types of coins you really enjoy and then seek out the best examples of those coins for your collection. If you do it right and have patience, you'll have a collection that is not only rewarding from a collector's standpoint, but will also probably be a decent financial investment in the long run.

Good luck!!

 

Thanks, and yes bullion is good, but as many of you say, diversify.

That's why coins appeal to me because I had an old coindealer friend of mine, Mike, who really knew his stuff. He inspired me to pick this up as a hobby.

However, I guess I am afraid to take chances and risk spending too much $ on something that won't appreciate much in time.

That's why I look at you guys for inspiration here. I hope there are at least some specific coins you know you'd like to get your hands on that you can share with me so I at least have a few things to look for as well. I mean the net is so big, don't think I'll take your deal or anything..

 

Hey Illini, what were those barber dollars and halves years and grades you were looking at?

 

good buy

 

I think the question is though what is the better investment to hold for 30 years if that is the intent, a 100 ounce silver bar or a relatively rare coin that was purchased at a decent price and held for the same amount of time. I think if we go back 30 years and picked out examples the rare coins would win most every time.

If we go back 100 years the examples would be mind boggling to how well the rare coins did over bullion.

MS65 Morgan common year coins are not unfortunately what most consider a rare coin due to survival rate and grading.

If someone wanted rare for the money you put in all of this you could have purchased a truly rare piece of southern gold or waited to see what the mint releases at the end of this year.

I agree the appearance of the coins matters a great deal when buying too, you want a coin that looks like it has never been cleaned and has a nice color to it. Those will always sell for premiums IMO.

You can read market reports from the top dealers on the coin industry too, that is a way to see what they see, but remember they are dealers. Here is one that reports all the time.

http://www.legendcoin.com/cgi-bin/inventory/cms2.pl?page=market_report


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WHAT WAS HOT

CAC BETTER GOLD, OR CAC'D GENERIC GOLD IN DENOMINATIONS OF $5 OR MORE! We do NOT consider Commems hot as we did not see multiple dealers searching for any. PR 64 Type was strong. Rare GEM Morgans and DMPL's were strong-we saw several deep pocketed buyers for them. Because there were so few neat coins around it was hard to determine what was really hot.

WHAT IS NOT HOT?

Buffalo Nickels and Merc Dimes seem dismal. Patterns seemed a bit quiet as well. MS and PR Seated coins were quiet too. And of course all overgraded dreck could not find buyers at any price.

***********************************************

Dreck is what they call bad appearance coins or overgraded coins, haha.

PS One thing though, the coin market is starting to correct right now so how far it corrects is hard to say, it may not be the best time to buy rare coins.

 

Hi
If you are a beginer in this field , dont go for such a big investment at this point, acording to me , you must invest on numismatic books, catalogue, and spend time on net and learn about coins and after that start investment that will give you a good profit in long run as well mental satisfaction.

Starting collection with BANG Sometimes result in loss of interest due to facing some monetary loss in purchasing coins without sufficient knowledge, which will harmful for your ineterst in numisamtics so start slowly and slowly accelaerate

 

Good point. We all need to or should ask ourself if we are doing this as a hobby or professional. If it is a hobby, I think time spent is more casual and as a professional time spent is whatever amount of time is needed.