Ok gang another question. Tring to convince my wife is just about as hard as deciding which rare PRE-1933 GOLD coin to buy. I'm looking to spend only $500 for a coin. I know finding a coin with a grade of MS 63 or better for that price is next to imposible in gold coins but somebody has to have hint or LINK to point me in the right direction. Anyone dealt with "Austin rare coins" or a guy named "Bret Leifer" ? I am looking for a dealer that will work within my limited budget & when I find him/her we'll both be happier over time.
I am assuming that you are only considering US coins for purchase. While there are some MS63 graded gold coins you can buy for $500 or less - there are no rare ones. You will be able to get common date and lower denomination US gold coins in this grade for this amount. But if you were to consider world gold coins as a possibility - you would have many more options and a much greater chance of success. But I would ask you one question - what is your defintion of rare ?
I have done a little research on world coins & ffound the "Lunar" series from an australian mint the most beautiful & interesting so far & as far as the getting common date US coins for $500 I have to agree with you, not really a chance. So let's talk SILVER...same question. I want to invest in coinage for the best return (say 10% in 3 years) .
Now you're asking for investment advice - and that I will not do. First of all it's illegal for me to do so as I am not a registered investment adviser. Secondly - those who try to " invest " in coins - usually end up losing their " investment ". Coins should be collected because it brings you joy to do so - not to make a profit. But should you make a profit as a result of selling a collection - then that's just gravy for the main course. Many who are new to coin colllecting are enamored with what they think is an easy way to make money. Well let me be the first to tell you - THIS IS NOT SO ! If it were - every coin dealer would be a millionaire - but they are not. They are just hard working people like the rest of us. I am not a dealer - never have been and never will be. I am a collector - and have been for over 40 yrs. I collect coins because I enjoy it. Yes I am aware of the value of the coins - it would be foolish to be any different. For how else would one know what was a fair price for a given coin. But profit is not my motivation. Yes I could sell a great many of my coins for a substantial profit - but I have no wish to do so. The only time I ever sell a coin is when I am upgrading to a nicer specimen of the same coin and have no desire to keep duplicates. What many are not aware of when they view the profit side of coins is that there is not much there. Not unless you are very lucky and happen to find a bargain. They do not realize that when they see the prices listed in price guides or advertisments that the prices being quoted are usually full retail. Well very few collectors pay full retail. As a matter of fact very few coins sell for full retail. Of course there are the exceptions. There are those coins that sell for multiples of full retail - but that is because these coins are exceptional or very rare. The problem is - there are not that many truly exceptional or very rare coins out there. And for the ones that are out there - it's not likely you will make a profit on them - at least not very quickly. Those who realize profits on their collections do so because they have owned the collection for years - usually many years. I am talking decades. So if your motivation for collecting coins is profit - you need to find something else for a hobby. Otherwise you will be sadly disappointed.
10% in 3 years!!!? Sign me up! The price of silver has moved very little since the Boom of the late 70s early 80s. A world crisis might make the prices jump, do you want to bet on that?
Sorry GDJMSP thought you might have an idea on a 3 to 5 year deal on some silver coins. I have already spent hundreds this year on coinage (not investment grade silver/gold) & found much enjoyment. I know Carson City coins are popular. I know that patient is a must in coin collecting. I am in this for a lifetime. No matter if it's forty days left or forty more years. This has become more than hobby, it's a hunt! & the title to this subject is Min. investment so let's have it. I would like to upgrade to collecting RARE NUMSTIC coinage, something worth more in 3 to 5 years so I can sell either buy a more interesting or more brilliant GEM quailty coin. That's what keeps this hobby/collecttion thing going, the buying & selling right ? (I know there is more to it don't get bent).
metal_monster - No worries - I'm not as you say " bent " I was merely trying to explain things the best way I could. What you may be unaware of is that a few years ago - and even some more recent incidents - there were a great many lawsuits initiated because somebody mentioned coins & investment in the same sentence. I used to be heavily involved in the investment world so I understand only too well what can happen as the result of casual discussions on this subject. What I will do is this. I would suggest you go visit my web site. There is a link at the bottom of every post I make. At that web site you will be able to find out for yourself just the kind of information you are looking for. And if you enjoy the hunt - you'll enjoy searching it out Besides that - you'll likely learn a good deal while searching for it. And to me - that's the most fun of all
I did not start collecting for the investment. However, I do collect with something in mind, I do not want my collection broken up by my future off-spring, so I often have duplicates especially of coins that I deem to have value in the future. I tend to focus on things that are in XF or UNC condition, silver, and have low mintage. Obviously, some of the Morgans have become worth something partially because of the silver melted a couple of decades ago. It is hard to find new coins that will be worth much anytime soon. When you buy coins and plan on selling it, you have to be sure you are not selling it to a dealer. A dealer is looking to make a profit, just like you are, and would want to get it for half the price of book value, maybe. So that is one reason it is not so easy to make money on this. You should focus on the pleasure of it. I think probably if you knew what you are looking for, specialize, can see trends and can be very patient for the long haul say at least 5-10 years minimum then you might be in business. I don't expect to make a fortune on coins. But I admit it would be fascinating for me to see some of duplicates rise up in value and make some good money. Some investment specialists sometimes advise their clients to have some good rare coins for investment purposes as part of their overall protofolio. Anyway, I am just giving my perspective, not giving advice, but things with high mintage. I do like those CSA dollars myself. I don't have any. But unless the market gets flooded with some source of them, you would think they would go up. But how much? You asked for a certain percentage. It is not like an annuity or CD with an expected rate of return.
