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<p>[QUOTE=&quot;GDJMSP, post: 23297, member: 112&quot;]Some may be surprised by this - but I will agree with that comment. But as with any investement - if you don&#039;t really, really, really know what you are doing - you may as well throw your money away and save the effort.</p><p><br /></p><p>Coins are probably the single worst investment vehicle there is for this reason. With coins - if you ever expect to be able to sell them for even what you paid for them - they must be chosen very carefully. Part of this is because of the spread in the buy &amp; sell prices if they are sold to a dealer. The other part of it is that not everybody likes the same things you do. A collector&#039;s taste in coins is what causes him/her to buy them. So if you don&#039;t buy coins that someone else is reasonably certain to like just as much or more - then they will be quite difficult to sell at a profit. In a nutshell - you must have an eye for coins.</p><p><br /></p><p>But there is more to it than knowing what is popular and what isn&#039;t. You also have to know and understand values - to be able to recognize a bargain when you see one. And be able to know when to walk away from a deal as well. This of course entails knowing how to grade properly and accurately. And in today&#039;s world - it&#039;s not just enough to know how to grade. And if the coin is raw, you also have to know how the slabbing companies will grade the same coin. There is often a difference in their opinion and yours. If the coin is slabbed already - then you not only have to be able to judge if the grading company was correct in the grade - but if other collectors in general will agree. </p><p><br /></p><p>And then of course you have to understand the coin market and its cycles. Is it on the way up or on the way down ? When is the right time to sell and when is the right time to buy ? And you also need to know what are the coins that stand to gain the most in the future.</p><p><br /></p><p>All of these things must be known and you must be very good at all of them if you expect to be successful at investing in coins. Even 1 small mistake in any part of the process can doom you to failure and large financial losses.</p><p><br /></p><p>This is why I never recommend that ANYONE invest in coins. Enjoy them for what they are and the pleasure the hobby brings you. And if at some point in the future you decide to sell your collection and you show a profit - then so much the better&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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