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<p>[QUOTE=&quot;Colonialjohn, post: 2422169, member: 57741&quot;]How to make money in coins:</p><p><br /></p><p>1. Specialize - Pick a niche, join its club, read the books, review the auction catalogs. Keep making yourself an expert in the field.</p><p>2. Time - Maybe at least a decade hoping the prices will go up.</p><p>3. Avoid U.S. Mint products.</p><p>4. Buy PCGS/NGC coins in the beginning until you learn how to grade. Since I always collected historical coins this was never an issue with me other than currently buying U.S. Errors both in paper and in coin.</p><p>5. Attend local shows and if you buy from Heritage or Stacks/Bowers make it coins - you must have. Few dealers I know can make a living buying from these high end forums. Sometimes the same coins are found in more lesser name auctions.</p><p>6. Learn how to buy and sell. Most people just buy - it simply makes you HALF of a collector.</p><p>7. Know which auction houses specialize in each type of material you wish to specialize.</p><p>8. Avoid Heritage and Stacks/Bowers as your &quot;sole source&quot; of buying coins. 17.5%. Maximum competition arena.</p><p>9. Learn how to grade - quickly.</p><p>10. Move to historical or Ancients if wish to really enjoy collecting solely for its pleasure. IMO - these who do usually break better than even as only experts really venture here rather than the simple minded accumulators we see with 20thC type coins. Its harsh ...</p><p><br /></p><p>John Lorenzo</p><p>Numismatist</p><p>United States[/QUOTE]</p><p><br /></p>

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