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<p>[QUOTE="BIC, post: 8613285, member: 142086"]First let me say I'm very appreciative of all of you providing me your invaluable advice. Also, let me add to [USER=112]@GDJMSP[/USER] list--buy at the right price. Also note that for the past year or two, it appears coins have done better than other investment vehicles, such as the stock market or bonds. Let me tell you my coin collecting story.</p><p><br /></p><p>At the beginning of the year, my wife felt strongly we should buy bullion with concerns about the future of fiat currency. We bought some bullion from a nationwide type dealer. Good thing not really as an investment because the price continues to drop. But no worse than the stock market and that's not the goal. Even on bullion, we bought sovereign coins we enjoy, such as Britannias, Krugerands, Kangaroos, Maple Leafs, Philharmonics, Eagles, etc., as long as we weren't paying a premium minimally more than generic rounds. We shop around. Bullion premiums vary wildly.</p><p><br /></p><p>The sales rep, whom I like but <i>is</i> a salesman, suggested we also purchase numismatics as a long-term investment. He suggested a few Double Eagles in the low $2,000 range each to start with. We thought the coins were interesting and some research indicated they were about book value. OK, we'll give it a swing.</p><p><br /></p><p>That was followed up by periodic calls from the salesman offering some particular coin they just got in. The coins were typically high quality, relatively rare in the range of $5-20k. I researched each suggestion, usually to find them desirable coins marked quite a bit above book value and for sale elsewhere for much less at or below book value. We did buy some of those coins--but elsewhere. Interestingly, all the coins we passed on, were typically sold in a day or so to some other regular clients that apparently don't know or don't care they're overpaying.</p><p><br /></p><p>We did come to enjoy collecting the coins for the fun of it, but also making sure we were getting good value. There was one coin we wanted and unsuccessfully bid on it at several online auctions (such as Heritage, David Lawrence, etc.). They ultimately sold for what I thought was too much. Eventually, our patience paid off and we got the coin slightly below book value.</p><p><br /></p><p>One thing that strikes me when I watch these auctions is that hundreds of coins sell with many bids, often for more than book value. There's frantic bidding for coins costing $10k, $50k, $80k or more. It amazes me and leads me to believe coins could be a decent investment as I see the price of a particular coin going higher with each auction. Of course it could all come crashing down tomorrow. But the stock & bond market have already done so and looks like real estate is next.</p><p><br /></p><p>At the end of the day, I agree, buy what you like. But, I also buy with an eye towards future sale. Not unlike the house we built a few years ago. Hopefully our forever house and built accordingly. But, we did make a few concessions towards re-sale as you never know what the future may bring.[/QUOTE]</p><p><br /></p>
[QUOTE="BIC, post: 8613285, member: 142086"]First let me say I'm very appreciative of all of you providing me your invaluable advice. Also, let me add to [USER=112]@GDJMSP[/USER] list--buy at the right price. Also note that for the past year or two, it appears coins have done better than other investment vehicles, such as the stock market or bonds. Let me tell you my coin collecting story. At the beginning of the year, my wife felt strongly we should buy bullion with concerns about the future of fiat currency. We bought some bullion from a nationwide type dealer. Good thing not really as an investment because the price continues to drop. But no worse than the stock market and that's not the goal. Even on bullion, we bought sovereign coins we enjoy, such as Britannias, Krugerands, Kangaroos, Maple Leafs, Philharmonics, Eagles, etc., as long as we weren't paying a premium minimally more than generic rounds. We shop around. Bullion premiums vary wildly. The sales rep, whom I like but [I]is[/I] a salesman, suggested we also purchase numismatics as a long-term investment. He suggested a few Double Eagles in the low $2,000 range each to start with. We thought the coins were interesting and some research indicated they were about book value. OK, we'll give it a swing. That was followed up by periodic calls from the salesman offering some particular coin they just got in. The coins were typically high quality, relatively rare in the range of $5-20k. I researched each suggestion, usually to find them desirable coins marked quite a bit above book value and for sale elsewhere for much less at or below book value. We did buy some of those coins--but elsewhere. Interestingly, all the coins we passed on, were typically sold in a day or so to some other regular clients that apparently don't know or don't care they're overpaying. We did come to enjoy collecting the coins for the fun of it, but also making sure we were getting good value. There was one coin we wanted and unsuccessfully bid on it at several online auctions (such as Heritage, David Lawrence, etc.). They ultimately sold for what I thought was too much. Eventually, our patience paid off and we got the coin slightly below book value. One thing that strikes me when I watch these auctions is that hundreds of coins sell with many bids, often for more than book value. There's frantic bidding for coins costing $10k, $50k, $80k or more. It amazes me and leads me to believe coins could be a decent investment as I see the price of a particular coin going higher with each auction. Of course it could all come crashing down tomorrow. But the stock & bond market have already done so and looks like real estate is next. At the end of the day, I agree, buy what you like. But, I also buy with an eye towards future sale. Not unlike the house we built a few years ago. Hopefully our forever house and built accordingly. But, we did make a few concessions towards re-sale as you never know what the future may bring.[/QUOTE]
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