Hello everybody. I'm trying to decide what to collect next. I have a (missing one key) complete Lincoln cent set, complete Jefferson nickel set, complete SBA dollar set, and complete dimes and quarters from 1965 on (the clad ones). I am posting here to solicit advice on what to collect next. Here are my concerns: 1.) I am currently in the US Navy, and have a budget of around $100-150 a month. I can spring for occasional key dates, but $1000 coins will take many months to save for (I'd never buy a coin on credit lol). 2.) I'd like a collection that will likely appreciate in value. I may have to sell my collection eventually, but I've got a guaranteed paycheck for several more years, so that may be a ways off. Thus, while I'm not viewing collecting coins as an investment per se, 10 years from now I want my collection to at least keep pace with inflation, and preferably make a modest return. I understand usually only key dates appreciate measurably, typically in the 4-8% range averaged annually. Bullion/melt value coins move with the price of precious metals. I think Mercury Dimes, Standing Liberty Quarters, Walking Halves, and Silver Eagles are especially beautiful. I'm also considering finishing out my pre-65 silver dimes (with proofs) or quarters. The black proof state quarters have also caught my eye. I think Buffalo nickels are ugly. Otherwise, I'm really open to anything. So, in total, what can I collect that will fit my budget of about $1000-1800 per year, that won't just be a sunk cost and will likely be worth more in the future? *I also have another question on coins as an investment. Is collecting and holding key dates of various sets for the long-term (10 years+) viable? I am maxing out my Roth IRA and contributing to my TSP (401k for military), but want to diversify as well. Coins seem like a way to diversify my portfolio, and numismatic coins, like rare artworks, appreciate for different reasons than precious metals or stocks. Thus, they seem like a decent way to reduce risk. My grandfather gave me a 1998 redbook, and just seeing the incredible growth of coins in the last decade has piqued my interest. If this isn't really a good idea, please let me know, and I will continue to stick with bullion to diversify into non-paper wealth. For that matter, any investment advice to a young person would be really helpful (I know this isn't the forum for that, but a lot of people here seem older, experienced, and wiser than I). Thank you everyone!
First of all, Welcome to CT. Second, collecting shouldn't be considered an investment. The only coins that will ever appreciate in value are key dates that you said are out of your price range.Third, the series out of your choices that would not break the bank too much is the Walking Liberty Halves and the Silver Eagle(with the exception of the 1995-w). If you choose the Walking Liberties, you may want to do something like 1928-1947, instead of the whole series, the earlier dates can be pricey. If you choose the ASE's, they will be a good way to lessen your exposure to paper, and they are eligible for your Roth.
I'd recommend Walking Liberty halves. Stunningly beautiful, large and heavy, many nicely toned, not a frustratingly long series, and (mostly) affordable in circulated grades. As for advice on investment, well, I'd say don't count on coins. Lance.
Okay, thank you. Glad to be here, thanks for the welcome. On investment, I understand that 1909-s vdb cent, 1916-d dime, etc... have appreciated well. But not even accessible semi-keys like 1931-s cent are likely to appreciate? In any case, thanks for the advice. Is coin collecting a net expense, or can I recoup my costs later down the road at least? As for walkers, how do they compare to silver Roosevelts and Washingtons on cost? And ASEs are really tempting, because there is only a small premium above melt and I can get the whole set in mint condition at that price. They are also an investment in silver at least. I do not think a precious metals IRA is a good deal for a few reasons. In a Roth, earnings are tax-free, yet precious metals pay no dividends (and eat up my contribution limit). Buying the physical metals allows me to keep all earnings tax-free anyway (since I would only pay taxes on sale, and may sell to an individual under-the-table). For the same reason, tax-deferred regular IRAs are a poor place for precious metals. Besides any sales tax (not applicable to me), I pay no taxes except upon sale, and only if my sale is large enough that I am forced to declare it or face audit. Keeping my metals in my possession also enables me to be responsible for their safety, enjoy having tangible (as opposed to paper) assets (big reason to diversify into precious metals), evades government knowledge, and offers me the liquidity of selling them at any time, instead of being tied up until retirement. They may be safer with a custodian, but I have to pay more for that service than I would for a safe deposit box. Is there a reason to own a precious metals IRA that I am missing? They really are one of America's best coins, aren't they? I don't own a single one currently. I might buy a batch of them online at a little above melt, and then finish up the set through periodic dealer visits. Thanks for the advice everyone.
I am active duty Army and just picking up collect again. I did it as a kid a little. I would like to say educate yourself on a certain coin and cherry pick. VAMs might be obtainable. I have been garbing a little of this and that mostly silver and 1 half eagle lib that I put on lay away. Barber halves and all silver halves look good to me. I like to look and the mintage and compare it to others sometimes their are other factors that disturbance this comparison. Educate and have fun. I recently have been spending my coin allowance on the 5 oz P ATB coins from the mint. $290 a coin is getting tuff. Their are only 27,000 and a 1 coin limit. I am only going to get the 2010 set then go back to Silver halves and dollars. I saw a post of a very nice half type set from 1795 to current. Quality of quantity. I think their are plenty of coins that will go up as well as plenty that will do nothing. You can also search Rolls from the bank for no risk. This is very time consuming but can be fun if you get the kids involved.
Welcome to CT! :welcome: I would go with ASEs. You stated that you like them, they fit well within your budget, and they will be easy to sell whenever you want to do so. TC
ASEs are a relatively short set that you can add to each year. Believe it or not, since ASEs are considered a bullion coin, they can be hard to find in great raw condition. Adds to the fun of the hunt, without being like looking for an expensive key coin. I had a great time filling up my ASE book, and spread out over many months, it didn't break the bank. Gorgeous coins.
Oh, with your budget, you should pick up 2 to 3 ASEs a month. With a set of business strikes currently at 26 coins, if memory serves, you should complete a set in about a year.
Thanks for your opinions and warm welcomes everyone. I think I will collect ASE and a few other 1oz silver bullion rounds that interest me (I already have a few ASEs and a Panda). They are very beautiful, not too expensive (no thousand-dollar keys), and large enough to carry a lot of detail. Do Dansco albums tone silver coins? I like toning if it is attractive (especially blue/gray). Probably won't be too hard to sell if I need to down the road (never know when you might need the money), and it gives me a position in silver, which I need anyways. I feel like I might also buy some common date mercury dimes and standing quarters in a very nice condition just to look at. Anyways, thanks guys, you were all helpful. I'll post my collection when I finish it.
It would be hard to get the special West Poin coin which is worth a lot of money and Proofs are a little pricey but fairly inexpensive.
Yeah... There's a lot more than 26 coins in a comprehensive ASE set. "Business strikes" don't include all those high dollar coins.
Franklin halves are a fun series to collect. You can all FBL, or MS64+ with PR for each year of issue.
Don't do Walking Liberty Halves. Don't do Morgans. I don't need competition. You should be able to get a lot of common date, low grade Mercs on the cheap. So, you could fill up an album pretty quickly. Melt at this time is $2.90 for a Merc. Go to a dealer and ask if they have "junk silver" and what they're selling it at. You'll get a response something like "$19 times face" (probably higher). With your budget of $100 a month, you can grow a large set quickly and then you'll have to save up. Better start saving for that 1916-D now! Regardless of what price the dealer quotes you, if you want to get silver and coins on the cheap, "junk silver" is a way to go. Pick through some "junk silver" and pick through some "bargain bins" for the coins you need. Silver is silver is silver. Lower premiums to spot for "junk" vs silver eagles. Personally, I just picked up a 1932-1998 Washington Quarter album. Not sure how I want to fill it up. happy collecting!
Another suggestion, if you like nice coins to look at and if you like variety, is to collect a type set. A 20th Century type set would not be too pricey at all, and every coin is interesting in its own way. Another thought would be a nice AU classic commemorative set. I am thinking nice AU since you won't have to have them slabbed, and the costs would be much lower. Again, every one of these are unique, adding to the WOW factor. Sorry, I just find putting together a "set" of coins where every one is the same except for a date or mintmark just terribly boring. With tens of millions of different types of coins out there, why do you need 50 of the same type? Just some thoughts. Chris
I agree with the last poster, you can definitely do a nice high end Franklin half set or maybe the peace dollar series. Even the key dates 1921 and 1928 can be had for several hundred dollars. Because it was a relatively short lived set, you can easily put one together with your budget.
