You guys are always quick to criticize the PCGS price guide. But its not them thats out of touch with reality. its ME!! I didnt realize proofs have different pricing from regular strikes. AND I would have assumed Proofs are more expensive. But proofs are cheaper. I paid about $22 each, for the 1963 franklin proof, in a slab, and the 1964 kennedy proof, in a slab. nice coins. just not the deep discounts I thought it was. ...question to the experts out there: are proofs considered good investments for a collection? or is the belief to stick to high grade regular strikes only?
The condition of a coin will probably have a lot more to do with its value then whether it's a proof or business strike. More modern (1982 or later) proofs are minted in fairly high numbers and handled in such a way that them being in high condition isn't especially unusual (most modern proofs tend to be about PF-67 or better it seems). Cameos are still highly desirable though, even amongst moderns. People love searching proofs sets for cameo proof Franklins... to the degree that the market is pretty flooded non-cameo proof Franklins, why they're relatively cheap. However a good looking coin will always have potential eventually... wouldn't hurt to have a few! Kennedys I think are somewhat ubderrated and probably have a good future ahead of them... though be a long time before they go up significantly in value (one day people will realize that nt many people are bothering to save them, same as will happen to clad Roosevelt dimes...) Pre-modern proofs in high condition are a really good investment.... they were made in much smaller numbers and were preserved in high condition in small numbers, so are always highly desirable. Scarcity relative to demand of a coin in high condition will always be the biggest contributer to its value, whether proof or business strike. Eye appeal will always be good for a coin's value too.
IMHO the question as worded makes no sense. "Investing" consists of purchasing tangible or intangible things with the intent to receive regular income as a result of your ownership (stock dividends, CD interest, real property rents, etc.), and/or the intent to sell the thing at a profit at some time in the future. "Collecting" consists of purchasing or otherwise acquiring items with some rational relationship for the pleasure of owning and accumulating them. Continuing expense (storage, insurance, security protection, etc.), not income, is the expected result of ownership. If you are asking whether proof coins are good investments, I would respond that they are for those investors who succesfully choose proofs that subsequently increase in value, and sell at a time that their value has not regressed. If you are asking whether proof coins are collectible, I would respond that they are for some collectors, those who find their accumulation and ownership to be enjoyable. While a particular item can certainly qualify as both a good investment and as a collectible, there is no direct correlation between those purposes of acquisition.
Somtimes proofs are cheaper than BU coins but not always! I collect Proof Franklins all in PF66 graded by NGC and I must say that it is a fun set to do and I would suggest it to anyone! Collecting one grade was a choice that I thought might make the hunt harder and "funner", but just finding that 1950 or such dated proof franklin can be alot of fun! Keep an eye out for the CAMEO and DCAMEO coins as they are the ones that people want the most IMHO. Speedy
IMHO, satootoko's answer makes no sense. coins are an investment. To quote a line from the movie throw momma from the train: "the purpose of a coin collection, is the coins are worth something." I.E. A hard-asset with intrinsic and collector value, that will grow over time, thru demand, and thru inflation.
But not everyone collects coins for investment purposes. Many never consider the resale value of the coins they buy. If you decide to collect coins to turn a profit at some later date, you probably might want to learn a great deal more before you begin to invest your money. Profits aren't realized easily and rarely immediately. There are some unscrupulous dealers out there that make a living off of new collectors and if you don't know the ins and outs of the coin world, you're likely to be their next victim. If you think about Roy's answer when considering all of this, it makes perfect sense.
Have to agree with Moen1305 on this. I do not buy coins for the investment aspect. Like the art I buy, it's more about buying something I enjoy admiring and learning about. The upside is, there is some value associated with these collections in the event I decide to sell. In the event I sell, I will be satisfied with breaking even as I do not work hard at making sure I buy at the lowest possible price - to make the best profit. I am a sellers dream - I buy the coin because I want the coin. I'm not foolish with my money, but I'm also not foolish with my time. In the end, I hope my kids get my entire collection and they can do with it as it pleases them. At that point, it really will not make a difference if I payed a little more than I should have or if they did not appreciate as much as the next coin.
I've lived near Hollywood for 64 years, and never knew until now that scriptwriters were the final authorities on word meanings. Since I don't invest in coins, I guess I'll have to rename what I thought was my "collection" to something else. Do you have a current address for Stu Silver, the guy who wrote that Danny Devito/Billy Chrystal movie? I really should write to him and ask what that aggregation of coins in my safe really is? On second thought, I think I'll just respectfully disagree with you and Mr. Silver, and continue to consider myself a collector, and my coins a collection.
This an old debate lol... suffice it to say there's a lot of people who collect coins purely for its own sake, and investment is not their primary goal, and may very well not be a goal at all. See the thread on that very subject that's run to about 5 pages last time I checked.
I would have to say to each his own for this. I personally like them, and most of them I don't keep for investment. Most because I like them. If you want to save them for investment, fine, if you want to collect them for their naturall beauty, fine there to. It is whatever you want. It's your collection. Phoenix
ah, you very funny man, satootoko!! tell me: is stu silver a relative of Joel Silver? ...Satootoko, lets get together for lunch. jerrys famous deli sound good? ...or maybe the tail and pup hotdog place? ...unless you want to be generous and pay for lunch at Dolce?
Have you guys ever tried Poquito Mas Mexican food near Hannah Barbara Studios? Best burrito I've ever had at a fast food joint. I miss L.A.'s food. :eating: I used to live a block from the corner of Fairfax and Sunset on Hayworth. Is the Chalet Gourmet Still on that corner?
I never lived in California. Im a california wanna-be. Rainy days and mondays and reruns of Baywatch get me down.
