Retirement......numismatic coins saved....

So what does one suggest if one doesn't put their numismatic coins towards their retirement? What ...buy U.S. savings bonds now? I was told that numismatic coin collecting is good to have for retirement, and better than saving "junk" coins (which are know are good). Any opinions on this would be appreciated.

 

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Coin collecting is a great hobby to have during retirement, but if you're asking about collecting for the purposes of funding your retirement life, I'd recommend against it. Talk to an investment advisor or financial planner and put together a plan for a nice diversified portfolio that is workable for your situation.

 

This is one investor -- and one coin collector's -- view.

Collecting coins is not an investment for 99 percent of us. Stocks, bonds, real estate (if one knows what he is doing) and precious metals (as long as it is a small hedge) are.

What you invest in largely depends upon your time line -- how long you have until retirement.

But do yourself a favor and drop the notion that numismatic coins are a suitable investment. And do it now.

 

401K..........

 

I made my retirement working for a Union company and now I'm retired and the checks come in the mail once a month .

So Coin collecting just adds to my monthly income and o-how fun it is .....

 

It is an absolute fallacy to believe that numismatic "investing" is a deterministic system. Rather, at any point - and many points - during the "investment" period, random chaotic events will be introduced, since grading, demand and perceived value are completely governed by human subjectivity.

I would recommend numismatic "investing" solely as a pursuit of a very wealthy person whose needs are more to (somewhat) safely "park money" rather than express any need or intent to grow the investment. Even then there will be risk on par with many investment vehicles considered "risky."

 

I've been collecting things since I was five. First coins, then stamps, then paper money, then stamps some more, then paper money some more, then, etc. etc.
Along the way I've bought things that are now worth dozens of times what I paid for them. I bought lots of turkeys, too. The thing is, I almost never sold or otherwise disposed of anything. So I've experienced the pleasure of ownership of some things for decades.
When the time comes to seriously start selling things (the stamp collection is up first, it's the most likely to decline in value in the future), I'm sure all totaled I'll wind up with a very great net profit, that will doubtlessly help as my wife and I approach retirement. But I never bought things with that in mind. I always bought what appealed to me in the basic, visceral collecting sense.
If I'd bought as an investor, I doubt my potential profit would be anywhere near what it is.

 

In short.............Numismatic Coins are a TERRIBLE investment vehicle.

People would be better served in genetically engineering a money tree.

 

if and when you go to sell your coins you will never get full retail unless it is a very rare coin. even then you need a buyer. coins as an investment is a gamble. ask any one..they do it for the fun of it. you can make money at coins, but that happens over a long period of time 10-20+ years. if you are just collecting coins for investment only you will not get the full enjoyment out of the coins. now if you are collecting coins for the history, art, the rarity, the hunt,....then you will enjoy collecting coins.

 

Then you'll have to deal with the people who don't want genetically manipulated money in their wallet.

 

If you have to ask the question then you should not invest in coins. That may sound cliche, but it's true. The only people i know who have made money buying coins and holding them for a period of time were extremely knowledgeable about the area of numismatics they were buying.

 

Not to mention PETA would probably get involved.

 

I'm surprised they don't already, there are images of animals on some coins and, who knows, the animals might be offended. Hey, it's 2016 and we not allowed to offend ANYBODY.

 

Excellent point, except that even for the "very rare coin" if you pay retail for it, it will be a cold day in Hades before you can show a profit. Now if you can buy "junk" silver and find some key coins, you'll be OK.

 

I'm offended by that statement.

 

I'll give you something to really be offended about.

 

Well....I've heard both sides....and what, as you say...the coins I have are of no value? You think the price of gold and silver is going to drop? People are saying to get physical gold and silver whether bullion or numismatic. But....I do have US savings bonds...so I guess I just will settle for that.

 

Collecting rare coins is considered buying commodities...buying gold and silver. I have heard a lot against buying commodities. I want something to invest in that is going to make money. I was told that with the coins I have I can profit from them. Then again, I don't have a lot, so I don't think I am going to purchase any more. The slab of junk coins might be more profitable? I am thinking that I might be better off getting away from gold and silver all together but people do talk that one day the paper money will be obsolete, and everyone will be scrambling for physical gold and silver. There is nothing I would really be able to do if it does become obsolete .....I couldn't possibly have enough gold and silver to live on.

 

Gold was at 1800/oz 5 years ago and is 1287/oz right now. Nothing is a sure thing.

 

That you Bernie?