hi guys im new to collecting .i want to start collecting gold 5/2/1 guineas .what ones and dates would be the best investments.thanks zack 8.
I totally agree. I would do a couple days or so research before ever jumping into a new series. You should probably brush up on the history behind the coin, proper weight, how to spy fakes, which ones you want to buy, which ones are rare, etc. The list goes on for ever. You should never jump into a new series without prior research. I got burned on Morgan Dollars before I did the research, and am not much of a Morgan Dollar collector anymore. BUT, I'll tell you, I know what to look out for and how to tell fakes now. ~Cannyn
Hi Zack - welcome! I'd do some research, and in paticular, look into spotting counterfeits. That being said, it is a truly rich and beautiful series. I personally don't have any guineas, but I do collect sovereigns. For that series I have the Marsh book, which is an excellent reference guide. I'm not sure of works dedicated to guineas, but a little research should assist you. Wishing you the best on whatever you decide ...
A couple of reasons. First and foremost, coins, any coins, are terrible investments. And there are numerous reasons for that alone. Secondly, you have to know a lot more about coins than that it is a key to the series for that coin to be a good buy. You have to know the current state of the market, for each coin. You have to know if the coin is graded correctly. If you are buying from a trusted and respected seller then authenticity is usually a minor concern, but you never know. Unless you know the coins yourself. You have to know the relative rarity, or lack thereof, for each coin; as well as know the availability of each coin, and in each different grade. Those are all different things. Then you have to know the popularity of each coin. And all of that is really only the beginning. I would always recommend that no one ever buy a single coin of any series unless they first study, and I mean in depth study, that series for at least a year. And only then should they get their feet wet. Not just jump in, but wade in and just get their feet wet.
I picked up a decent 1793 VF polished piece for a little over gold spot price from world coin dealer Allan Berman a while back. Many world and ancient gold and silver coin dealers have material to sell with fairly tight buy/sell spreads, always ask what their percentages are so that you don't get left holding the bag. Also, it doesn't hurt to check on the oversight organizations the dealer is a member of; some have lost their submission privileges because of ethically problematic business activity. Check the BBB.
Bullion is bullion, even old bullion. I wouldn't agree with that, either part of it. Most world coin dealers have very wide buy/sell spreads. Often much more so than there is with US coins. Many world dealers will rarely pay more than 50% of retail value when they buy. And when they sell it's typically full retail plus some. That said, even full retail plus some for world coins is most often a good bit cheaper than comparable US coins are.
