About 5 years ago I cashed in all the savings bonds my grandmother had been giving me for Christmas, birthdays, graduation etc and I put it all in Apple stock. With all the uncertainty in the markets today I just sold it all last week so I am looking to spend most of the $783,000 on coins. Any suggestion on a honest dealer for me to work with? I thought about interviewing Q David Bowers but my roommates dad said if I went with Stacks I would probably not be dealing directly with Bowers himself. I defiantly want someone on par with him. I am a very, very good grader so I am thinking about buying raw because I would get the best value
Putting that into anything numismatic would be the worst mistake of your life. This is your chance to ensure a comfortable retirement beyond any shadow of a doubt, without any further worry into your future, and if you do not take this opportunity it will eventually become your greatest regret. Don't invest in coins, invest in yourself. Not that I believe a word you're saying.
So your grandma gave you about 200k in savings bonds? I would ask your fellow graders at the TPG I am sure they would have some good ideas....
I hope you are not offended, but: Coins should not be viewed as an investment. Putting most everything you are worth into any single vehicle is concentrating your risk, and is inherently irresponsible. As part of the learning process, it is just as important for the inexperienced to learn from making some small mistakes on raw coins as it is for the seasoned collector to avoid large mistakes on certified ones. The very notion that avoiding certified coins will get you a better deal with raw coins tells me you are not ready to make this kind of decision at all. Many seasoned collectors I know (think 30, 40, even 50 years of collecting) have lamented not buying a certified coin after learning that their raw coin substitute had a problem affecting its value. I have my doubts that you've handled enough coins in your 23 years that you should feel so confident in dispensing with certified coins so completely. I've been collecting for 48 years, and look only at the coin, not caring whether it is raw, or by whom it has been graded. There are far too many mistakes to be made buying certified coins, and even more to be made buying raw. Looking to a well-respected coin dealer for direction is a fine idea, but there should very clearly be no conflict of interest involved. However, to me that means not buying coins they have any sort of interest in. Instead, you might identify coins at major auctions you are interested in, and pay them to be your eyes. I'm quite sure other members will have lots of other thoughts you would do well to seriously consider before taking such a leap.
And a guy as young as you shouldn't be allowed to spend that kind of money on coins. I don't care who is going to advise you, whoever he is, he's gonna have an ax to grind and your best interests will not be considered. You should have left the money where it was.
i don't believe: 1. That you have $783,000 2. Anybody could be stupid enough to buy coins with that windfall. I'm confident on point 1. Point 2 is up for debate.
No kidding.... ugh. I'm guessing some of us have already forgotten about the OP's super special B&M "find"... https://www.cointalk.com/threads/col-green-collection.294683/
Sounds like that money is simply fun money. I suspect you weren't banking your life on gifts from grandma, and you have a secure future. My suggestion is to buy rare top pop graded coins. Investment quality. I heard a couple 43 copper cents are coming on the market.
I think you should buy this penny from me. I'm not greedy, only $750,000. You can keep the rest for yourself.
1) Buy a nintendo and some video games to keep occupied when bored. 2) Buy a house when youre 18 3) Buy all the slim shady, wu tang clan and beastie boys CDs and report back after listening to every song 3 times.