Buying Coins instead of having cash lying around

I just recently developed an interest for coins. I have purchased the following:

1908 $5 Indian Gold vf to good condition
1910-d $10 Indian head MS63 PCGS
1910 $2 1/2 Indian Head MS62 PCGS
1882-s Morgan Silver Dollar ms66 NTC
1999-w $10 Gold Eagle Error with tiny spot on back and small nick on knee of lady. Not Graded Yet.

I purchased these coins hoping they will increase with value in about 2-3 years hoping that I will be able to get money out of them instead of having just cash lying around or money in the bank and not getting some sort of return.

Did I purchase the right coins for easy liquidy or should I have purchased some other type of coin? Could you recommend any other coins that I should purchase that I can sell very easily and get a good return on?

I would like to know if it would be a good idea to join PCGS or NGC? I have noticed PCGS coins get a better return on investment.

Any advise would be appreciated.

 

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If I were licensed to give investment advice I would probably comment that

• NTC is not a top level grader, and its slabs are therefore suspect as investments
• A bullion coin with spots and nicks will always retain its value as bullion and will never acquire any numismatic premium.

However, I am not licensed as an investment adviser, so I won't make those comments.

 

I'm not licensed as much of anything, but I did stay at a Holiday Inn Express last night, and I say that Roy is right on the money.

 

I'll also add, that if you ever do want advice on the right price for a coin, post pictures here, and people will be happy to help you out!

 

There are two ways to make money with coins. First, spend an enormous amout of time to become expert enough to recognize undervalued or undergraded coins that you can resell for a profit. Second, buy silver and gold coins at or below bullion value and be lucky enough to have gold and silver go up in price between the time you buy and sell them. There really isn't any other way that I am aware of except pure luck.

 

Money market funds are paying the best interest in years.
If you really love collecting coins that's cool. I do not think solely in terms of returns on my purchases but it is a consideration. I would suggest the old advice "buy the book before you buy the coin".

On that note hows about we all give a book choice. For someone new to coins that Scott Travers runs down most of the basics.

 

Where is a good place to buy money market funds?

 

HI DAVE
THE HOLIDAY INN EXPRESS , YOU ARE WATCHING FAR TO MUCH TELEVISION DAVE, GLAD TO SEE YOU POST AGAIN.:high5: :high5:

 

discount broker like Scottrade, Etrade, TDWaterhouse

 

If your are looking to "invest" in coins, that is make money instead of collecting for the love of collecting, here is a report that you might find very very interesting.

http://coinresource.com/articles/investing_in_modern_coins.htm

Also take the advice of the guys here at cointalk. The experts and long time collector/traders/dealers here really do know what they are talking about.

Education is key to having successful dealing with coins of any value.

 

IF you want real investment advice, Just send the coins you have to me

 

Almost true. However, you could rob a coin store, take the coins to a coin show and sell them.
Find some old people with jars of old coins and tell them you have to take them to the old coin shop for recycling and then really sell them at a flea market. Put any coin in a 2x2 and enter it on ebay and note it will probably sell for hundreds of times what it is worth. Put an add in numerous newspapers stating you will sell those coins of yours for $1 each to everyone that sends you the money cash. Take the millions of dollars you'll receive and flee the country.
Just out of curiousity, how much did you pay for those coins????

 

Investing in "hard" items is always a good idea, just make sure you are informed about what you are getting into. Btw, you can never be too informed.

 

I paid about $4.000 for all of the coins. The 1999-w I thnk I paid too much for 925.00. I was thinking about posting a picture of it. I want to send it to PCGS. The 1908 Indian I bought off of ebay and the guy that sold it to me used another ebayers picture to represent the coin. I was thinking about reporting him to PayPal. Thanks for all the help. I am still learning.

 

It sounds like you got taken pretty hard. A little research on Heritage shows that recent sales of the 1910D Eagle in that grade go for about $1750, the 1910 Quarter Eagle sells for about $625, the Morgan dollar for anywhere from $50-$125 depending on how overgraded the coin is (that slab is NOT trustworthy), the 1999W proof quarter ounce bullion coin is worth about $200 and the heavily circulated Indian Half Eagle is worth about $175. that means the total purchase should have cost between $2800 and $2850. That is a tough way to begin an investment, already down 30% to start just from paying inflated prices.

I would attempt to return them all and call it a lesson learned that coins are not the easiest thing to invest in. You need to find an investment specialist to give you good advice or at least find a coin dealer you can trust to help you invest in coins until you've learned the ropes for yourself (not an easy or quick process).

Good luck, it seems you may need it.

 

I wish I had that kind of cash "lying around."

 

Carl,

I really enjoy your posts on the many topics you comment about. :thumb:

 

Something Doesn't Add Up?????

I read this report and was pretty impressed by the scholarly method used by the author to analyze this subject. But something doesn't add up

The report states that the 2001 Proof $25 American Gold Eagle was the lowest mintage in this series at 23,261.

The US Mint website indicates that the 1995 Proof $25 American Gold Eagle was the lowest mintage in this series at 15,286.

Who is right? Who is wrong? Or are both right and the two sources are measuring different things?

Most importantly, if someone wanted to buy a sample of the lowest mintage proof gold coin in the American Eagle series, which date and size would it be? How about the uncirculated AGEs?

That's a lot of questions!!

 

Not to insult anyone, but isn't it difficult to find a coin dealer who won't put his or her interest first. I'm pretty sure I've been taken, or had an attempt to take me, by every dealer I've ever delt with. Perhaps I've just had bad luck, but it seems the difference between wholesale & retail can be huge.