Buying extremely valuable coins... a good investment?

I think we all basically agree on the main premise. My statement of "money flushed down the toilet" was one of intent. If you need money in the future, I simply don't think putting it in any collectible, (or a boat, or any other hobby related items), is the place to put it. Collectible resale can be fickle, full of perils, can take a long time unless you are willing to take a beating on a quick sale, etc. Therefor my statement of "money down the toilet" was meant to demonstrate that you should treat the money as disposable, and be willing to accept that a lot or even most of it may not be recoverable. Therefor, never put money you need to live on, retire, pay for college, etc in any collectible.

Like I said, lots of stuff going on in this conversation. I am always cognizant of others reading these threads. Paul, I have no worries about you or most other posters on this board coin purchases. I think most posters here are in the upper echelon of knowledge of the coin industry. What about someone who may be reading this and investing his child's tuition buying coins from HSN or other such venues? Do you think that is a good idea? I know you don't, but my advice is geared just as much towards them as anyone.

I simply believe telling everyone to never "invest" in coins is just as sound as telling them to never clean coins. Both statements are not absolutes, in that with knowledge both may be broken successfully, but they are absolutes to the majority of people out there.

Sound fair?

Chris

 

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This has been an interesting (if not radically eye-opening) thread and I particularly like the phrase, "dirt nap".

 

It would appear that I agree with both of you but just didn't know it until we talked it out. Note to Doug, having a debate with me is not fruitless.