I know that the better quality of Coins you buy, the better they will hold their value (right?). So, if I'm on a tight budget but want to start collecting one of every U. S. coin (non-gold, etc), what guidelines should I use? Should they always be graded or if it looks pretty nice, take a well-balanced risk? If graded, what is the minimum? Thanks.
While some will say that coins can be a good investment, I like to treat it more as a hobby. I collect what I like for the "entertainment value" of collection, the thrill of the hunt, and the hope that in the end I will eventually get something back out of my hobby. There are ways to limit your exposure and risks, but with any "collectable" it will ultimately only be worth what someone is willing to pay you at the time you decide or need to sell. If you want to invest and have fun, split your coin budget in half and invest one half and have fun with the other.
It's all really for gun. I'd just like them to be worth more than I paid for them when I finally "buy the farm" ;-)
"Coins as an investment" and "To clean or not to clean" are the two most discussed topics on the forum. Leaving off the cleaning for now, coins are - in general - not a good investment, as far as investments go. They are much more of a gamble. If you like to gamble, gamble. If you like to collect coins, collect. Sometimes a gamble pays off, and sometimes you lose your dough. At least with coins, you have something in hand. Now, trying to get one of each American coin is a noble task and one well worth undertaking. With that in mind, go for it. Recent coins (Zinc Lincolns or Zincolns) are cheap enough that you could get some encased (or entoombed) ones just for a kick. Older ones, you should at least try and get handsome specimins. The fun is in the chase. Tally-ho
I agree with others. Coins are a hobby, not an investment. If you are concerned about resale, the most important thing I would recommend is to buy the nicest problem free coin you can afford. Usually a nice, problem free VG will be more desirable than a VF problem coin.
I started thinking of buying for investment but quickly learned that it was more for fun. I love collecting Morgans and I put every one of them in their own little protective casing, even the VG's. I do it because I like the coins themselves, and I like looking at each one of them. It's not because I think I have an investment there. My brother on the other hand buys them for investment and sticks them all in 20 piece tubes.
If you're buying as an investment you should just buy what you can afford. However, junk silver is not a good idea. It only goes up with the silver value, a 1916-D mercury dime can go up by hundreds while silver only goes up fifty. I don't buy for investment, if you're really looking for an investment, Bullion may be the way to go.
And the value of a 1916-D dime can go down by hundreds while the value of silver goes up. If you can predict this, you are a very rich guy.
Back to your original post, if you're looking to build a type set, there are a few different options. I'm working on a Dansco 7070. In my set, i have some coins that were raw, but where possible I have bought coins (certainly not top pop coins) and cracked them out. There are several books on type sets, I would suggest looking into one of those. Some people have preferred to go a different route and chose to make their own "Slabbed" type set. If you go this route, I would suggest sticking to PCGS and NCG (maybe Anacs).
Whoa. Ebay doesn't have any Dansco 7070's, an Amazon has them for... $100! How much should these books cost?
They are expensive right now since Dansco stopped amking them for a while. THey are supposed to be coming out with new ones. I wouldn't pay inflated prices right now, I would wait.
There are a couple of other companies that make Type Set albums. Also, you may be able to find someone on this site that has one they will sell you. That is how i got mine for a lot less that $100.
I buy for fun and profit. I buy from craigslist. I get an entire collection and then keep the best and sell off the rest. I pay below spot and sell over spot so most of my coins are free.
Type set sounds like a great idea -- but do a little trial run, stop by a local coin shop, look around on eBay, or on the sales fora here in order to get a little education. It's easy to make mistakes when you first start a collection, and throw all sorts of money at something that you regret later. It's better that your learning experience be as fiscally painless as possible.
