I don't want to get ripped off ...

Yea, unlike real-estate, this is not quite a "buyers market".

And I see your point about rarities over buillion. I may have to think this out a bit more. I don't want to make the same mistake I made here:


http://www.cointalk.com/forum/t49682/


and I guess I got taken here also: (Although I LOVE these coins and don't regret spending over $2000 on them)

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWNX:IT&item=120383772649

 

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I would say it might be a good idea to slow down, read, and study coins for awhile. If you can be talked out of buying a St Gaudens so easily, you aren't ready to buy anything expensive with the level of confidence you should have. It's easier to lose money buying rarities than buying bullion, or in the case of many St Gaudens $20s, near-bullion.

 

Do you mean easier as in gone quickly or as in low impact.

I would think rarities are more of a risk than something like the St. Gaudens, because when all else is said, there is the gold value. (Something a seasoned coin collector must shudder to even consider)

 

When your spending twice over the price of gold there is still risk. Others just buy gold on the spot market.

Ruben

 

I meant easier in the sense that it is easier to be fooled into paying a lot more than the coin is worth. MRBRKLYN is right, bullion coins are safer to start out with.

 

Sure the coin market is a buyers market...you just have to reserach it and find out in what areas.

Like I've said before---slow down, and if you have to buy something, limit the cost to under $20. I'm not trying to be mean, but you don't know what you are doing. Take time to research the coins you are wanting to buy. Buy some books and read them - The ANA Grading Guide, Photograde, and the PCGS Grading Guide would all be good starting places.
Then read, read, and read....and I don't mean read ebay items. Take the time to learn what you are wanting to collect and you will be a powerful buyer. If you don't, you are going to be taken, and sell at a great lost.

Gold isn't less risk - in some ways I would considder it a bigger risk.

You aren't ready to buy a rarity.

Again--I'm not trying to be rude or anything. Almost every person who collects coins started the same way you did. Some learned very fast that going down that road without knowledge is wrong, and changed their ways. Others kept on going, and in the end, quit collecting.

It is up to you -

Speedy

 

No, you make valid points, I don't see your post as rude at all. I appreciate your insight and can surely learn from your experience. I need to rethink this before I make any more purchases. I did so hastily before and got burned.