Coins or Bullion Investing

Which one would be better option if I am wanting to make money or have something of value to save throughout life just wondering I am young collector and was needing some advice.

 

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If I were you, I would start roll hunting for silver, and maybe start collecting cheaper coins, and see where the hobby takes you. Worry about making money later.

 

If you want to make money then coin collecting isn't gonna help you - collecting is for enjoying the hobby not really for investing in unless you become Rick from Pawn Stars. If you are one of the fortunate young people that actually have a job in this economy then talk to a financial adviser. NOT one that makes money on your investment plans that he talks you into but one that makes money on a % of the profits of the investments he advised you on!!

 

from the investment standpoint, Bullion is highly speculative (just think if you had bought bullion a year ago. Where would you be now?)
The only sure way to make $$ from coin collecting is to only buy choice, no problem coins that are key or semi-key dates or varieties and then to take a long (I'm talking decade, not month) time holding them. Quality will always win out.
Granted, you won't (unless you have M$ to play with) have a huge collection but you will have one that will, over time, increase in value (and slowly increase in number).

 

If you want to make money, buy coins cheap and sell them quickly. Then do it again and again.

If you want to save and have something of value, then either choice is fine (both bullion and coins have value long term).

 

He's 19 - unless you are a relative of the Kennedy's how the heck is he gonna purchase high dollar coins??

 

Coin collecting is a terrible investment for the vast majority of people in it. Now with that said, collect what you like but try and get good deals and hang on to the coins.

 

Don't consider coins as an investment vehicle, it's a hobby, learn from it and enjoy it. What you buy today may be worth something when you retire but look at it as a way to have fun. But DO start an investment portfolio while you are young, you will appreciate this advice when you decide to retire. Try and put at least 10% of your earnings in every week and you will be amazed at how much you end up with a ways down the road.

 

i will do a investment portfolio was just trying to get some opinions because i do have a little silver saved not much and i have a few coins also.

 

Even though he's 19, he could start saving up for a choice coin. For example, say he likes Indian Heads, he could save up enough to buy a MS-63 1908-S IH (Red Book listed at $400). It might take a year, but it would be a start. What he might want to do is to look at a few different series, etc. to collect, examine the cost(s) of the key dates, consider his budget for the next few years and then choose what to collect.
Granted his collection might only be a few coins in the next couple of years, but he will have some killer coins that will be the nucleus of a much larger (and much more valuable) collection a decade from now.
Last Comment: after he decides what to collect, his first investment should be the best books available on that series.

PostScript, I absolutely agree with tommyc03 that he should start an investment portfolio ASAP. If he is working, he have a 401k (or whatever equivalent is offered) and max that out every year. After that, then the coin collecting hobby can be pursued

 

well right now i have 23 grams of silver not much but a start was thinking i could use $20 from every check and buy some silver.

 

Even though he's 19, he could start saving up for a choice coin. For example, say he likes Indian Heads,

Well all I know is my coin collecting was put on the back burner when I bought a fancy 1970 Buick Gran Sport and hooked up with a beautiful 17 year old girl - my money and thoughts were way into different places. It wasn't till recently I got my head back into coin collecting!!

 

If I were giving advice to my son, I would tell him to take that $20 and put it into an index fund.

http://www.marketwatch.com/story/how-a-1-savings-boost-could-sweeten-your-retirement-2015-02-20

 

yeah i understand everybody different in life.

 

Did you actually mean 23 grams? That's less silver than one Barber or Peace dollar.

 

yeah i am young just getting into bullion buying and everything.

 

I would strongly urge you to consider investment money and collectable money as separate and distinct pots. It's impossible to ignore value when purchasing coins, but don't consider them an investment.

Precious medal can serve a valuable purpose in a balance portfolio, but I have seen more often people rationalizing bullion purchases as an 'investment', but in reality they would rather spend money at the coin shop them put it in a brokerage account.

 

well thanks for the help when i do get the silver should i sale it or hang on to it.

 

I don't know if you should sell it, you need to decide for yourself what you are interested in.

Me personally, I collected large cents for 2 1/2 years, then sold most of the collection to finance a house purchase. I found the process of selling very informative and would encourage all collectors to periodically sell some coins. By going through the process, I was forced to think about what I really wanted to keep, and what I had mindlessly acquired but was not valuable to me. I am much more selective now in my purchases, I now view my role as more of a curator of my collection instead of just acquiring coins for the sake of spending money.

In your boat, I would take some time to figure out what type of collection you are interested in building, and match that goal with your financial restrictions (we all have them). Put some thought into your collection instead of just purchasing coins, and leave the investment angle OUT of the equation.

 

ok will do i am settling for completeing sets of coins for now. i think i am going to sale the silver to my wifes grandpal to double my money and to buy me a couple silver eagles from this year.