collect what youenjoy investment in coins should be in rare coins if you do investments in generic coins mor eoftenthan not you will end up losing. if you buy 10 generic morgans for lets say $200 you would have to sell them for around $350 to get a generic gold coin notcounting all your sellig overheeads. personallyi thinky ou can do better just MHO
stainless - It seems that you think all you have to do is buy coins and then re-sell them for a profit. Well, a lot of beginning collectors think that way. But nothing could be further from the truth. Making a profit on coins is usually extremely difficult. It requires either blind luck or one heck of a lot of knowledge. Without either of them, your chances of doing so are about 0. Collect coins because you like collecting coins and you'll be fine. Collect coins because you expect to make a profit on the deal and you'll likely be very unhappy.
I couldn't agree more with what Doug said. If it were only so easy to profit like that in coins, we'd all probably be pretty wealthy. If you're into coin collecting for an investment and a profit, you may want to find a different hobby. Guy~
yeah...i had a talk with a few members... it seems im a little to far over my head on this one... i love silver so i was thinking about collecting them and then selling them in the long run... but today i just got back flea market...the coin guy had a morgan... i felt it in my hand and it was so heavy and beautiful...wish i had the $ to buy it:headbang: so yep..screw the selling im gonna collect morgans for fun now..:thumb: of course i gotta collect the ancient too like i said silver is my favorite metal:kewl: thanks guys:smile
Selling is really hard, even harder to make a profit. Sometimes if you are lucky you will get beginners luck, but gotta be careful, because you can get in over your head, and really lose money. If you want to buy and sell for profit, main thing you gotta find is a buyer, that is willing to pay what you want for it. Which can be the most difficult IMHO. Okay, sorry about the rant, glad to hear you are going to have fun! Not wrong to buy and sell for profit IMHO, but something people will sometimes overlook is it takes sometimes a lot of time, and time can be money. Just a few things to chew on, I could be way off, and can be missing some things, so sorry ahead of time. Best of luck to you man, and have fun. Cuz' when you're not having fun, it's not working. Phoenix
profit is something that you get as a byproduct after nearly a lifetime of collecting, I've been at it for 20+ years and have yet to realize a profit.
I have profited by enjoying and sharing the greatest hobby on earth. The intangible rewards and the knowledge acquired is priceless. Its all about how one defines profit.
i highly recommend that if you read a couple of books first." the dummies guide to coin colllecting" is a good introductory guide. to further educate yourself, q. david bowers' book "the experts guide to collecting and investing in rare coins" is excellent. ii would also recommend that you consider joining the ana and taking the diploma course. if cost is a factor, you may take the courses indivdually. they are a little outdated, but it is an excellent source of information, set up in a progressive manner. i hope the hobby provides you with many yrs of enjoyment........steve
Note you have a 1., 2. and 1. 3. Usually follows 2. Not to be to cridical but isn't i supposed to be I. 1. 10Morgans depends on how much you buy them 2. Why? Plan on melting them? 1. That should have been 3. Why A.D.? Why not concentrate on coins with BC after the date? dd: Stainless: Why not try just coin collecting?
1.gonna get the graded ones 2.no, but they should be worth more in the long run since they are almost all copper 1....this is #1 for my personal collection...who know whether any of te ancient coins are from b.c...so and so time period of a.d...its just guess work I want to coin collect now..especially the morgan silver and the ancient romans....thats why i stated that im cancelling my investment plans...will not sell any morgans when i get them unless its at a price i cant refuse...
There is nothing wrong with wanting your collection to appreciate. The key factors are time and inflation. If you buy a group of morgans and hold them for 20 years, there is a high probability that they will appreciate. If you can't wait, all bets are off. Now, I know someone will point out that silver hasn't appreciated over the last 20 years, but that's just part of the reason why silver coins are a great buy now. What else can you purchase at the same price as the 1970s? This opportunity in silver won't last in my opinion [with the stress on the word OPINION].
