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Collecting coins is a suckers bet!!??
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<p>[QUOTE="Cloudsweeper99, post: 656543, member: 3011"]I feel you can make money, but not through "normal" collecting methods. If you pay full price for what is most desirable, whether it is toned coins or key dates, you probably have a 50/50 chance of ever recovering your original investment no matter how nice the collection turns out. The best chance you have, in my opinion, is to buy something that is selling low in relation to its intrinsic value or potential value, then holding on. For example, two areas I identified for myself back around 2003 when I got back into collecting was American Silver Eagles and modern commemorative gold coins from the 1980s. Neither were particularly popular at the time and I acquired most of the ASEs around $5-8 and the commems around $125-150. I think they were good deals then, and probably still are. This was due more to my research on silver and gold prices than numismatic value, although I continue to believe that the year the US Mint stops making ASEs, the series will almost instantly acquire significant numismatic premiums over the bullion value. They are beautiful coins that are completely taken for granted and might be melted by the millions in the next big rise in silver prices. We'll see. So the trick is to purchase items that are high quality, not widely appreciated, and that have a good chance of gaining popularity in the future. It isn't easy, but I think it's possible if you approach it with the right mindset and with enough knowledge not to get ripped off purchasing overgraded/overpriced coins. I'm sure there are things out there right now that will have significantly higher prices in the future; but it's difficult now because many high quality examples of almost everything the Mint turns out are being saved by many collectors. Most seem overpriced to me.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 656543, member: 3011"]I feel you can make money, but not through "normal" collecting methods. If you pay full price for what is most desirable, whether it is toned coins or key dates, you probably have a 50/50 chance of ever recovering your original investment no matter how nice the collection turns out. The best chance you have, in my opinion, is to buy something that is selling low in relation to its intrinsic value or potential value, then holding on. For example, two areas I identified for myself back around 2003 when I got back into collecting was American Silver Eagles and modern commemorative gold coins from the 1980s. Neither were particularly popular at the time and I acquired most of the ASEs around $5-8 and the commems around $125-150. I think they were good deals then, and probably still are. This was due more to my research on silver and gold prices than numismatic value, although I continue to believe that the year the US Mint stops making ASEs, the series will almost instantly acquire significant numismatic premiums over the bullion value. They are beautiful coins that are completely taken for granted and might be melted by the millions in the next big rise in silver prices. We'll see. So the trick is to purchase items that are high quality, not widely appreciated, and that have a good chance of gaining popularity in the future. It isn't easy, but I think it's possible if you approach it with the right mindset and with enough knowledge not to get ripped off purchasing overgraded/overpriced coins. I'm sure there are things out there right now that will have significantly higher prices in the future; but it's difficult now because many high quality examples of almost everything the Mint turns out are being saved by many collectors. Most seem overpriced to me.[/QUOTE]
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