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<p>[QUOTE=&quot;GDJMSP, post: 842609, member: 112&quot;]So Steve you have 35 years of experience with coins, but you don&#039;t know who or what CAC is ?</p><p><br /></p><p>Then when you talk about how to get around the buy/sell spread - you recommend ebay. Ebay is probably the absolute worst place there is to buy a coin. And as for the research you mention, the prices realized on ebay are pretty much meaningless because the majority of people buying coins on ebay don&#039;t have the first clue about coins, let alone their prices.</p><p><br /></p><p>Then you suggest to bid only on hotly contested items. That is a huge mistake ! Hotly contested itms typically sell for way more than they are really worth. As for selling to the underbidder - do you think he&#039;s even going to still be around when you are ready to sell ? Probably not. And if he really wants a coin that bad he&#039;s going to go get one from someplace else. So when you are ready to sell, he won&#039;t be buying because he already has his.</p><p><br /></p><p>As for overcoming the cycles, do you have any idea how long those cycles last ? If you&#039;ve been collecting for 35 years - you should. And if you don&#039;t, you better learn. Bear markets,like we are in now, typically last for 8 to 10 years. But they can stretch to 15, like the last one did. This one is only on its 2nd year. That means that we should not buying for investment purposes for about another 8 years or so. Otherwise we will have those additional losses in value that will almost certainly come to overcome before we ever break even, let alone show a profit.</p><p><br /></p><p>Bull markets on the other hand typically only last 3 to 5 years. And out of the past 30 plus years we have only had 2 of them.</p><p><br /></p><p>When you were taling about those coins having only 3 MS grades - that was in 1977. 33 years ago. Most people don&#039;t wait 33 years to realize their investments. But you can. Of course most of the coins those people own turned out to be problem coins of one kind or another because TPGs and slabs didn&#039;t exist back then.</p><p><br /></p><p>As for storage, insurance isn&#039;t the problem, that&#039;s easy. But over the years the costs can sure into your investment. The problem is keeping the coins in the same condition as they were when you bought them. Toning, which is inevitable, can turn a beautiful coin into an ugly mess that loses 50-80% of it&#039;s value in just a few years time. Less even. And don&#039;t even think about the plusses of toning because most of it is ugly. Only a very small percentage of coins acquire pleasing toning that adds to value.</p><p><br /></p><p>And lastly, you claim to have the knowledge and experience necessary to allow you to buy raw coins. But based on your comments, and the questions you have asked since you have been on this forum - I&#039;d have to say that you don&#039;t. Again, no disrespect but that is what I see.</p><p><br /></p><p>And in all honesty I would say that probably 90%, or more, of all coin collectors are just like you. They think they know what they are doing when they really don&#039;t. So they are doomed to failure when it comes to investing in coins.</p><p><br /></p><p>And last but not least, the last time we had a bull market and people started investing in coins - well those people are still suffering 60-90% losses on their investments. That means that the coins they own still have to increase in value 6 to 9 times what they are now before they even break even. That&#039;s 600-900% increase in value - and they still won&#039;t show a profit.</p><p><br /></p><p>As I said, collect coins because you like them, not for investment.[/QUOTE]</p><p><br /></p>

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