Hey, I have a bit of cash to spend and I was thinking that investing in coins would be a great idea. I don't know very much about coins so I was hoping that someone would help me out. What are some good coins to invest in?
Welcome to CT! :welcome: Coins are not good investments. You may be able to do ok if you buy expensive key dates at the right time and sell them at the right time. You may want to consider precious metal (PM) based coins (gold/silver), but even there you will need to do considerable research to do well. My advice would be to use discretionary funds to enjoy the hobby. If you end up making money, that will be icing on the cake. Good luck. :smile. TC
I personally believe junk silver is a great way to get silver for a good price (especially if they let you cherrypick) because I've gotten semi-key Barber 1/4 dollars (best find was a 1901-O in G) for $5.35. Although silver rounds have intrinsic (melt) value, they have no numismatic return because there is no such thing as a key date on a 5 year old coin.
Carter - if you don't know anything about what your investing in then you should not be investing in it, no matter what IT is. But that is especially true about coins.
I hope you have a job, your contributions to my social security is a "Great Investment." ld-guy-smile:
1st and foremost, WELCOME! LOL. I love da Ike's, but I had to laugh at this as an investment! Argggg. Gruff Gruff. ..........we all love ya Doug, your honesty is priceless. He is absolutely correct, but so is below. Yes. Well put. ........................Carter, like anything else, knowledge is key with any investment. It's never more true than with coins. Sometimes even a HALF grade off (+'s and CAC's) can make a huge difference in value and cost. Bullion could be a way to go, but you need knowledge of where you think the market is going there too. Buy low sell high. With all this said, anytime you can buy coins at 15%-25% below what www.coinflation.com says, then you've made a good purchase. Good luck finding that kind of pricing though. Ultimately read and understand everyone's opinion, gather all the information you can and do what you feel is best for you.
Unless you are both clever and lucky, investing in coins for short to mid-term gain is generally a bad idea. If you must buy something coin related, buy junk silver American coins - at least they will always be worth face value
Here's a little test for you, using all the info in this tread. http://www.ebay.com/itm/170772798791?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649 Investment or not and why? :scratch:
The only way i see making money on coins is roll searching and even that is more work then yield. Coin collecting is a hobby and like the others said just enjoy it, dont gamble your retirement on it.
"Don't leave a five, leave this coin! Make a BIG impression and save a few bucks. They may even thank you!" LOL
It's not a bad buy if you like Ikes. Where the bidding's at now, it's only a little over face, including shipping. But an investment it ain't. Ikes aren't worth anything impressive. Most are worth face. The Silver proofs about $10. An uncirculated or clad proof coin might bring in a few dollars. But you'll never make money on Ikes. They're just fun to have.
