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<p>[QUOTE="mikem2000, post: 1468378, member: 30574"]That article is overly simplistic at best, and is more likley to be classified as just plain bad advice.</p><p><br /></p><p>Now I am one of the more positive folks on the board about coins as an investment, but these are the things you need to overcome.</p><p><br /></p><p>1. The large spreads between buy and sell</p><p>2. Overpaying for your coins (We have all done it)</p><p>3. Getting taken by countrfeits</p><p>4. Storage and insurance costs</p><p>5. Possible theft of your coins</p><p>6. Market swings as particular series go in and out "of style"</p><p>7. Paying for books and research materials.</p><p>8. Grading fees</p><p><br /></p><p>Whew, and the list goes on. So how can this be a good investment? Well as a pure investment, I agree with most folks when they say "Don't invest in coins" It is not a good place to sink your money as a pure investment.</p><p><br /></p><p>I don't look at it as a pure investment though. I look at it as a hobby with an eye towards investment. Sort of a hybrid investment. Something you can enjoy with the possibilty of a return.</p><p><br /></p><p>So I treat the buying of coins as an investment. I am thinking of selling even before I buy the coin. I try to buy quality coins at a fair price. I might not always be succesfull, but I try. It takes time and patience and even then, mistakes are made. I do not get hung up over a must have coin. If the price is too high, move on. You can always find another must have coin. By not collectiong sets, it keeps me from getting desparate for a coin and possibly overpaying just to fill the hole. It also keeps me from buying lower quality coins for the sake of filling holes that have less of a chance of appreciation.</p><p><br /></p><p>I also am always on the lookout for buyers. Here at work there a group of collectors I sell to on occasion . If I can turn a profit a coin I will do it it and roll it into another coin. My collection is small, so turning some coins over keeps it fresh and intersting. </p><p><br /></p><p>I may never turn a profit off my collection, but the fact is that coins in the past have appreciated in value so I might as well try. In 15 years or so maybe I will show a profit but if I don't, I have had the enjoyment off collecting and maybe my style will have kept me from not losing quite as much.</p><p><br /></p><p>Mike[/QUOTE]</p><p><br /></p>
[QUOTE="mikem2000, post: 1468378, member: 30574"]That article is overly simplistic at best, and is more likley to be classified as just plain bad advice. Now I am one of the more positive folks on the board about coins as an investment, but these are the things you need to overcome. 1. The large spreads between buy and sell 2. Overpaying for your coins (We have all done it) 3. Getting taken by countrfeits 4. Storage and insurance costs 5. Possible theft of your coins 6. Market swings as particular series go in and out "of style" 7. Paying for books and research materials. 8. Grading fees Whew, and the list goes on. So how can this be a good investment? Well as a pure investment, I agree with most folks when they say "Don't invest in coins" It is not a good place to sink your money as a pure investment. I don't look at it as a pure investment though. I look at it as a hobby with an eye towards investment. Sort of a hybrid investment. Something you can enjoy with the possibilty of a return. So I treat the buying of coins as an investment. I am thinking of selling even before I buy the coin. I try to buy quality coins at a fair price. I might not always be succesfull, but I try. It takes time and patience and even then, mistakes are made. I do not get hung up over a must have coin. If the price is too high, move on. You can always find another must have coin. By not collectiong sets, it keeps me from getting desparate for a coin and possibly overpaying just to fill the hole. It also keeps me from buying lower quality coins for the sake of filling holes that have less of a chance of appreciation. I also am always on the lookout for buyers. Here at work there a group of collectors I sell to on occasion . If I can turn a profit a coin I will do it it and roll it into another coin. My collection is small, so turning some coins over keeps it fresh and intersting. I may never turn a profit off my collection, but the fact is that coins in the past have appreciated in value so I might as well try. In 15 years or so maybe I will show a profit but if I don't, I have had the enjoyment off collecting and maybe my style will have kept me from not losing quite as much. Mike[/QUOTE]
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