How actively do y'all sell and/or trade coins?

I've been collecting for over 10 years. Only recently started selling coins. I have learned a lot through that process.

I agree with some of the things that Doug mentions like how hard it is to turn a profit when one buys and flips a coin short term.

But I've also found that with coins you can turn a bit of a profit simply because of the value of precious metals and their impact on the value of coins. Granted, I've been the beneficiary of market timing as it relates to the value and run up in prices of PMs. 10 years ago when I first got into the hobby, I bought lots and lots of US silver dollars. Waaay back in the olden days of 2004, one could still buy average circulated Peace Dollars for under $10 common date Morgans were a little more pricey. They might cost $12 per coin. Two years ago we had the huge run-up in silver prices. Morgans and Peace dollars were going for over $30 just for their silver value.

Since then, silver spot prices have dropped back down to around $20/oz. But I'm able to sell average Morgan and Peace dollars on eBay for $25-30 all day long. Less than 10 years, 100% profit on many of these common coins. I think understanding the fundamentals in the coin market, and how the price of PMs affects coins with some PM and some inherent numismatic value makes it possible to turn a profit selling coins. I didn't really go into it with the intent of making money, I just thought Morgan and Peace dollars were cool.

Now I've started collecting ancients. I look for quality coins with decent eye appeal. I collect mostly Roman Imperial coinage. It's probably the most commonly collected area within ancients. My point being that if you understand a few key things; eye appeal, what's a popular market and what isn't, the relationship between precious metals and the numismatic value of coins, you may not make money...but your chances of doing alright on your investment improve greatly. And if you get lucky and time the market right, you just might turn a profit.

 

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Again, I adopt for life (apparently I seem to be a bit of a minority?) ...

Yah, I'm not merely a group-home for wayward coins (when I look at my coins, I can recall the reason that I decided to buy that particular coin ... and just because I may have since upgraded doesn't mean that I still can't see the beauty and memories associated with acquiring the original coin) ...

Ummm, it's kinda like getting another dog ... I don't send my previous dog to the humane society to be put-down => I accept and love both dogs!!

 

I just joined yesterday, after discovering this forum. I collect mainly Canadian coins. I've collected on and off, since I was a kid. However, I just got serious a year ago. I have thoroughly enjoyed the discussion on this thread and I've learned so much! I may just start researching ancients and possibly add a couple to my collection. Who knows where it will lead. Kudos to everyone on a fine discussion, including the use of language.

 

Welcome to the forum, Pocket Change 50!

 

I can not recall ever buying an ancient that the value was in any way related to the metal content. Certainly US common dollars and 20th century silver of no special date might be melted by fools but most denarii are 1/10 oz.

at best with debased one half that or less. If silver is selling at $20/oz. that makes the metal value a couple dollars at best. Denarii under $2 are hard to find. There are a few denarii bad enough that they might bring 4 times melt but the demand for silver scrap that varies from 5 to 95% might make in unprofitable to seek out victims. Gold might be a little better but nasty Roman gold is not trading anything approaching melt. How many $100 solidi have you seen? The copper value of a sestertius is under a quarter.

I suspect ancients coins that are melted are mostly illegal finds in countries where you can get in trouble for having antiquities but not teaspoons.

Steve, would you like to adopt a few hundred of my little doggies? They would be almost free except for a reasonable spay/neuter charge and postage.

 

You guys will end up like old cat ladies, more cats then you can deal with. starving and destitute coins laying everywhere.

 

Dont' take it too hart, Lot's of people nowadays cant spell either! Its' because there schools taught them nothing. or they spent to many hours mucking about, I pacifically blame the parent's though. they should take more time to educate they're own kid's. its not allways the kid's fault. its hard not too blame the kid's. even though they should no there gramma is wrong.

 

As for collecting/selling......
I have a very small collection of ancient coins. I have collected them by removing them from groups I have bought and then sold on.
I adore coins, if I did not sell them I would sell something else as I love selling!, however, the pleasure I get from handling coins is immense and I would be very sad if I could not handle coins.
My plan is to form a proper collection in about 20 years time when I retire. By then prices will be lower, I will have handled most if not all types of coins and the process of sourcing them (through many contacts made over the years) will be easier and cheaper. I will also know what I want to collect.
Do I love coins any less than any of you? I very much doubt it, but I sell thousands a year and keep perhaps 2.

 

Coins wilk be cheaper in 20 years? Maybe in terms of purchasing power, idk, but in nominal terms I very much doubt that. I have bought coins for 35 years, and save for things like bullion they are higher every year. A nice vf republican was $50 tens year ago. Good luck with that today.

 

read Dougs post about the decline in coin collectors.....I agree with him. How many collectors will have passed away in 10years? and where are the youngsters replacing them?

 

btw, I hope you old guys out there live for ever and keep passing on your knowledge to us youngsters...................................

 

*edit by stevex6*

oops ... I posted in the incorrect thread

 

"How actively do y'all sell and/or trade coins?"


Almost every time I pay for something in cash the kind folks give me coins

 

I have read similar for over 30 years. Anyone remember the string of articles in the 80's that "documented" how coin collecting was already dead and sports cards were taking their place? There never have been youngsters to take our place, it has always been 25-35 year old men who start collecting.

First it was lack of circulation finds, then lack of silver in coins, then basebapl cards, then the internet and gaming will kill coin collecting. I find internet the opposite, look at all of us talking about ancients here. I would wager most here never knew you could collect these until the internet.

 

I'm not sure where I stand, but this argument makes more sense to me. I was 32 years old when I started collecting. How about the rest of you. I know we have a few youngsters on this board, but I believe the majority will have been above 30 years old when they began collecting.

 

When I was very young, I collected Canadian pennies with my Granny ... then other than purchasing an occasional annual proof set, I died-off collecting until my mid-40's (that's when I started to gather a wee bit of "spare cash" so I could actually start buying some of the cool coins)

 

And this may be the crux of the matter. At least for me I did not have the spare cash until was older and more settled like Steve.

 

Nice to have healthy chat about things , I hope you are all right and I am wrong....actually, no I don't..because if I am right then I can get some lovely coins for no money at all........(I am 41 by the way and started getting involved with coins when I found a hoard of Roman coins three years ago)

 

Well I am 45, so if a ton of cheap great coins do come on the market, rest assured I will be there as well.

 

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