In the February, 2009 issue of COINage magazine Scott Travers gives his picks for the top coins of 2009. Many of them seem to be based on holding value in the current economic environment. Some are pure bullion coins. He listed common date Morgans graded and slabbed in MS 63-64. He said, "These are just marvelous survival coins and they convey a feeling of real wealth." He seems to be implying that they hold/gain value rather than serving as barter currency. He also recommends the same for graded/slabbed Peace dollars. Travers says,"Now, with the great rush to to gold and silver, these coins are sparkling again and their radiant luster makes them attractive not only visually, but also as a financial investment." What are your thoughts on these coins as financial investments? I had always heard that common dates did not hold value or gain like key dates do. I ask because I had pretty much just decided to start collectong Morgans certified by NGC and PCGS.
I think coins like that will retain their numismatic value no matter what. As far as being a good investment because of bullion content, I wouldn't hold my breath. Latest talk on Wall Street is that we're headed for deflation, which is the opposite of inflation. If this happens, we'll see all metal commodities bottom out like nobody alive today has ever seen. Of course, for people like me who love to see metals plunge and prices come down, thats great news....I can hardly wait...if it happens that is. Guy~
I was thinking more about the numismatic value. Bullion value is .77 X spot, and they are going to cost a lot more than that. I have clunker Morgans in my bullion bag that I paid $14 for last summer.
There is always one thing about any "investment" that people always fail to mention. You can find a bazillion of them all telling you what and when to buy it. But go find just one telling you when to sell it. And don't tell me the brokerage houses do it all the time. By the time any of them put a Sell on stock - it's way too late already. To capitalize on any investment you must sell it. And you must sell it when it is worth more than you paid for it. Coins, precious metals, diamonds, real estate - I don't care what it is - all of them move up and down in value on a regular basis. Yes, buying is important, and it is said by many, including me, that you make your money in the buying. But you cannot, ever, realize any profit without selling. Finding a coin dealer that is telling you it is time to buy is like trying to find sunshine - all you have to do is walk outside. Now somebody go find me a coin dealer that is telling you when it is time to sell.
