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<p>[QUOTE="Paul M., post: 3521352, member: 73165"]I've read this book, and, honestly, I think the value in it for the average collector is the lesson to "buy quality" and a bunch of pretty pictures. What this man who can afford to buy high grade, 18th century gold has to tell me about how I collect isn't even anything I can <i>do</i> anything with beyond just buying the best I can afford.</p><p><br /></p><p><br /></p><p><br /></p><p>If you buy 2 coins a year for 20 years, you have 40 coins. That doesn't really get your name in a catalog, IMO, and even if it does, so what? Buy 40 coins or 400 coins, but enjoy the journey.</p><p><br /></p><p><br /></p><p><br /></p><p>See, here's the thing: almost nobody should be <b>investing</b> in coins at all. Investors don't like tying up cash in illiquid assets that don't generate any cash flow, and coins have both of these properties. Until you get into the ranks of at least 5 and probably 6 figure coins, it's not even certain that they'll appreciate at all over inflation. And, even then, you need a combination of rarity and desirability (which essentially means there needs to be a market for the coin) to achieve that.</p><p><br /></p><p><br /></p><p><br /></p><p>I totally agree with this. Read this book for the pretty pictures and maybe the stories. Disregard the numbers.</p><p><br /></p><p><br /></p><p><br /></p><p>If you rely on market appreciation to tell you what to own, you probably shouldn't own any coins, because nothing has consistently appreciated over time, after inflation, except pie in the sky rarities that only 5 people in the world can own.[/QUOTE]</p><p><br /></p>
[QUOTE="Paul M., post: 3521352, member: 73165"]I've read this book, and, honestly, I think the value in it for the average collector is the lesson to "buy quality" and a bunch of pretty pictures. What this man who can afford to buy high grade, 18th century gold has to tell me about how I collect isn't even anything I can [I]do[/I] anything with beyond just buying the best I can afford. If you buy 2 coins a year for 20 years, you have 40 coins. That doesn't really get your name in a catalog, IMO, and even if it does, so what? Buy 40 coins or 400 coins, but enjoy the journey. See, here's the thing: almost nobody should be [B]investing[/B] in coins at all. Investors don't like tying up cash in illiquid assets that don't generate any cash flow, and coins have both of these properties. Until you get into the ranks of at least 5 and probably 6 figure coins, it's not even certain that they'll appreciate at all over inflation. And, even then, you need a combination of rarity and desirability (which essentially means there needs to be a market for the coin) to achieve that. I totally agree with this. Read this book for the pretty pictures and maybe the stories. Disregard the numbers. If you rely on market appreciation to tell you what to own, you probably shouldn't own any coins, because nothing has consistently appreciated over time, after inflation, except pie in the sky rarities that only 5 people in the world can own.[/QUOTE]
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