Got the wife convinced finallyyyy!!

Boy this one is a toughy. Here is how I see it.

Most of the time when I see somebody make money with coins, its an immediate thing ie.. cherrypick. I have been collecting for a long time and can tell you that I would of made a better investment had I invested elsewhere over the same period. Would I change what I have done if I could. Yea maybe one thing, I would of stayed away from all the new stuff (POST 1900) and went for the early dates and keys faster. You can make money on coins if your smart and have a photographic memory. This goes back to cherrypicking. Ask how many people here have made money over and beyond inflation and you may be surprised at the answers. Its a great hobby don't get me wrong, but it certainly is not a great investment. Don't believe us, pick a coin and research its price history over the last 20 years, most will be losers. (considering in inflation, dollar values etc..)

 

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well people above 23 dont have a chance it is well known that memory goes down after 23

 

Amen. Collect for the fun of it. Invest in commodities or stocks.

 

"It's not as risky as the stock market but it is just like the stock market."

In my opinion, that's not really a fair statement. The stock market is not a monolith. Is gold a safer investment than certain stocks? Probably. Is it a safer investment than preferred shares of Proctor and Gamble or Pepsi? Most definitely not. It just depends on what part of the equities market you're talking about.

 

I'm new here and newer to coin collecting. But what I'm not new to is investing. I trade stocks for a living, and I will tell you that right now is one of the best times to be buying into the market! Mainlly cus prices are so low and there are some fantastic deals out there. Now i'm not coming form a stockbrokers stand point nor could I tell you which stock to put your money into. As i merely operate on a technical basis, and am in and out of a stock in the same day usually.

I have somewhat looked into prices over the years on coins and how they have gained in value. Some coins have gained significant amounts over the years. But they are SPECIFIC coins. You would mainly half to have a few things going for you. 1. the money needed to buy these specific coins and nothing bellow UNC MS-65 or older than 1960. 2. The time needed to hold onto these coins without needing the money. Anywhere from a 10 to 20 year period. 3. Picked a coin that could grow beyond inflation over the years.

Looking back I've seen some coins have grown 500% or more in value over a 10 to 15 year period. Would you have made money if you would have "invested" in these specific coins? Yes of course, but would it have out beat the market over time? Maybe, but the hard part with investing in coins is your always subject to the person on the other end willing to pay more or less than the said value of the specimen.

It also seems that these things such as gold and silver move in opposite directions of the market. You have more people wanting to buy into things like gold and coins when the markets bad. Because they feel it's a better and safer investment. But in reallity this helps to drive up the price, thus you can end up paying more for your investment.

In my opinion, do it all. What I mean buy this is if you want to invest in coins. Do it, but do your homework first. Take your time and buy the right peices. Don't skimp on quality. But only put a % of your money into this. Maybe 5 or 10%. Mix up the rest into other investments. Diversifing is never a bad thing. If it were me I would put about 20 percent into gold, and 25 percent into Bonds or a CD. With those you really can't go wrong since you can't loose on your premium. Then I would put the rest into stocks and an IRA. Don't put all of your eggs in one basket especially if your looking to retire off this money.

I don't have all the answers, but if your able to invest and make an average of 4% to 10% per year on ur return. Which you can easilly make part of that just off a Bond or CD. That's pretty good. It may not seem like a lot, but those numbers will average out over time and will generally beet or match the market.

 

Yea that worked out :rolling:great

 

" Invest in stocks "

Nows the time to buy, there is blood in the streets.

Off the subject sort of:

Danr, your a player.
Musicians are hurting bigtime due to the general lifestyle they choose. Now is the time to buy that Martin or Gibson you have always wanted. D-28's are going for a " song". what was a 5K guitar 3 years ago is now $1500-$1800.........We just added a new one and are looking at a 12 string. I have always wanted a 12 string Martin. Now is the time. They WILL recover.

 

I picked up a decent made in USA Ovation (I know, "salad bowl") for a good price. Ovation take a lot of heat but the spruce top made in USA ones aint that bad. A music store over here on the west side were going out of biz, so I snatched it up. I also picked up a nice silver plated pro trumpet. I just do not have the budget for a Martin though.

But you are correct, quality instruments are out there at good prices now and those will almost definitely go up when things turn around.

 

In my profile pic I have 2 salad bowls.

Nice, love 'em. Congrats on a great guitar Dan.

 

THIS IS A COIN FORUM, I KNOW.

SPEAKING OF INVESTING, I BOUGHT MY BROTHERS HALF OWNERSHIP OF A LES PAUL/GIBSON AMP AND SPEAKER TOWER (LP1 AND LP2) FOR A $150 3 YEARS AGO. HE TOLD ME NOW THAT IT IS WORTH $1500 +/- AND THAT I SHOULD CONSIDER GIVING HIM SOME MORE MONEY. :bigeyes:

 

tell him uconsidered it and decided otherwise a deal is a deal is a deal

 

I have a Washburn D-10, can I join the band? Is that a quality enough guitar for you? I mean, it's not a Martin, but it's what I could afford after the coins.

 

Mike
I also have a Washburn. I love all guitars and am in no way a guitar snob. Join the party brother !!!

 

AJ,

not being much of a guitar guy, I recognize the Washburn name, but is it really a decent guitar? It was a gift years ago, and it plays like a million bucks.

 

Washburns are a spread. They have entry level guitars all the way up the ladder, and yes, they are considerd a "good" guitar in most cases.

Some Washburns are handmade and sell for the big bucks. Most are not.

The guys in Cheap Trick played Washburns exclusively, as did Dimebag Darrel from Pantera.

The accoustics run the gamut as well. I think mine is also a D-10, but is strung and set up for bottleneck, I raise the bridge and the action so high it is useless to a player in the fingerstyle, a slide only guitar so to speak.

 

Well, my wife is happy I invested in US coins 25 years ago.

She used to give me hell for buying them when I started. Now she gives me hell because i did not buy more.....!

Early key and semi-key dates have appreciated the most, some 5-7 fold over 20 years. With more common type coins value appreciation has been much less.

 

This is the best, most detailed financial advice I've seen on the forum! Stick around, jtrader.

Bootzilla - if you want to gamble, there's plenty of guys around here who love poker.

 

WOW thanks for all the input but i think i used invest the wrong way i just want to do it for fun and add to my collection and i thought it was cool that she doesn't look at it as waste of money and sees that there is value in the Right coin.Since there seem to be some musicians here i thought i'd say what i have,Traben Bootzilla 5 string bass and a Traben torrent 4 string bass,Rogue acoustic/electric bass and 2 estaban acoustics that i got when my dad passed and the Best one of all is The 1967 Chet Atkins Greche country gentlemen with original case.I can't ever sell them so i chose to get into coins like my dad did and i have used his old collection to start my own.thanks for all the grate help everyone

 

Welcme aboard !

I think your decision to invest in Coins is right ! You convinced your wife and thats the first step but make sure thats on record ...!!
Here are some tips I can give
1)Build on your existing collection .
2)Allocate 10-15% of portfolio to Coins . Coins have enormous liquidity nowadays so its not hard to cash out .
3)Focus on specific coin / sets ...and go for the High grades that you can afford .Some examples are Morgans Peace Dollars , Commemoratives...Pre- 133 Gold
4)Ebay is not the best place - www.ha.com is probably better ...even better if you can go to nearby shop .
5)Read a lot

Coins are a part of the history , it has art value , so you are not loser either way ...

Good luck