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<p>[QUOTE=&quot;satootoko, post: 81577, member: 669&quot;]<img src="http://www.cosgan.de/smiliegenerator/ablage/124/271.png" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>Long time members know my feelings about &quot;investing&quot; in coins.&nbsp; Stocks are an investment, IMHO coins are (or at least should be) a hobby (or profession, as the case may be).</p><p><br /></p><p>But stay far away from either one unless and until you have done your homework.&nbsp; Education is the key to success in the market as well as in assembling a coin collection that will hold its value.</p><p><br /></p><p>My first brokerage account was opened in the &#039;60s, and over the years I have <ul> <li>had more winners than losers, and</li> <li>the winners have generally had bigger gains than the losers had losses.</li> </ul><p>I credit that success to the fact that I never buy a stock, mutual fund, real estate investment trust, bond, or other investment without thorough research into the current state, and both short and long term prospects, of the economy in general, the company, the industry it&#039;s in, and the people running it.&nbsp; I don&#039;t rely on the opinions of <i>any</i> single analyst, adviser, or other financial &quot;guru&quot;, and I sure as <img src="http://boards.collectors-society.com/images//graemlins/893censored-thumb.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /> don&#039;t rely on &quot;tips&quot;, barbers, waitresses, etc.; or let emotion push me into either a buy or sell situation.</p><p><br /></p><p>I get my tax advice from qualified accountants/tax lawyers, and my legal advice from qualified experts in the relevant field if it&#039;s outside my own area of expertise developed in 40+ years of practice.</p><p><br /></p><p>In real estate the three most iimportant things are location, location, location.&nbsp; In investing the four most important things are knowledge, knowledge, knowledge, knowledge.</p><p><br /></p><p>&nbsp;Right now, but they still have a very long way to go before people who invested in 1980 will break even in number of dollars, and much further before they break even in inflation-adjusted dollars!&nbsp; Current prices are at or near their highest in 18 years, but still about 45% <b>below</b> their peak of 25 years ago. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie3" alt=":(" unselectable="on" unselectable="on" /></p><p><br /></p><p>Cloudsweeper also makes a good point about coins not producing any income.&nbsp; My Beautiful Bride and I can almost make ends meet on our social security and pension income, but without the income from some of my investments I wouldn&#039;t be able to add much of anything to my coin collection, or any of my other collections.[/QUOTE]</p><p><br /></p>

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