I am 16 years old, but I am really big on getting my money to work for me. I love investing in things and watching the value grow. But the problem is I am just now really getting into coins and I don't know what will appreciate more than the next coin. So I was wondering what are some good coins to start investing in. What will appreciate the most over the next ten years. I don't have much of a budget (about $200 or so) so i can't get that Gem coin with a grade of 70.
I have already invested in a 1897 silver morgan graded ms-63 and an 1899 $1 silver certificate black eagle. Also I prefer errors over the perfect coin.
Don't consider coins an investment early on. Learn about numismatics by attending shows, joining a coin club, reading coin books, and viewing coins online and in shops. You need to know how to grade and price before anything close to an investment can really happen. Good Luck!
Rather than spending money on coins spend it on books. There is literally a mountain to learn before you should even think about spending money on coins. To help get you started with collecting and to help you learn collect coins from circulation while you study. And go to as many coin shows as you can - not to buy, to learn !
If anyone knew what the answer to your question was, we'd all be doing it, Stan. Coin collecting is a hobby. Investing in coins is a really bad use of capital. If you like coins, then buy coins. Hopefully if and when you ever decide to sell them they will be worth more than you paid but in many cases they won't. Coins are a great hobby but a lousy investment. Collect if you like, but invest in something else. Chances are it will pay off better in a multitude of other investment vehicles.
Listen to Mike. He has a pretty good noodle on his shoulders. You said that you had a $200 budget. Per week? Per month? Per year? or "period" as in total! Chris
I think he means a total of $200. There are so many possibilities that I couldn't begin to suggest anything specific, but what I can suggest is this: find a coin that you like and buy it. Learn about it, then buy more like it. Most of all, have fun!
thank you guys. Investing might not be a good idea but I still love coins and U.S. currency. I could spend my entire day going through my pocket change and circulated rolls but, what I really want is to find that special error that everyone is looking for. Is there any way to increase my chances or is it just a luck thing?
It's mostly a "luck thing", I would say. I've found at least 4 major errors in the last 2 years, after looking through thousands and thousands of coins. 1995 Double Die cent 2002 Louisiana quarter late stage die cap error 1983 Lincoln cent late stage die cap error Off-center cent (no date) I have also found a few minor errors, such as large die cracks, including a die crack that runs across Washington's head on a couple of 1964-D quarters. Your best bet for finding errors might be with pennies, since few people actually pay attention to them and there are several errors (like the '95 Double Die and die cap errors) that can still be found, as well as varieties like the 1992 and 1992-D "Close AM". There are a few other double dies out there as well. And the thing about looking through pennies is, you don't have to really spend any money to do it-- get a bunch of rolls from a bank, look through them, then take the ones you don't keep back to the bank.
