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<p>[QUOTE=&quot;GDJMSP, post: 704212, member: 112&quot;]To a degree that is true. But there are quite a few other reasons as well. More on that later.</p><p><br /></p><p><br /></p><p><br /></p><p>You mean kinda like this one ?</p><p><br /></p><p><img src="http://www.pcgs.com/images/graphs/keys2graph.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /> </p><p><br /></p><p>That graph doesn&#039;t exactly bolster what you are saying Charmy. Rather it indicates that even with key dates and rarities, peopl ewishing to invest should be sitting on their money. </p><p><br /></p><p>But in fairness, yes, over the long haul the graph looks a lot better.</p><p><br /></p><p><img src="http://www.pcgs.com/images/graphs/keysallgraph.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>But even on that appealing graph there are a few 6-8 years periods where even key dates and rarities were losers. The real problem though with that graph is that it is kinda scary. It&#039;s scary because history tells us that any market that shows a spike like what these key dates have had in the past 15 years, will sooner or later fall. Only real question is - fall how far ?</p><p><br /></p><p>That said, there is no doubt that it is falling now, as we speak. And it&#039;s moving pretty fast. And the one axiom you will find when discussing any investment - is never try to catch a falling knife.</p><p><br /></p><p><br /></p><p><br /></p><p>Yup it can be, it has been done and there is no disputing it. But what you said is the key - buy the right coins. Sadly, for the average collector out there that is a whole lot easier said than done. First of all you have to figure out what exactly ARE the right coins. </p><p><br /></p><p>So, you mention 3 of them in your post. Let&#039;s take those coins as examples and we&#039;ll forget everything else I&#039;ve said above for the time being. The investor has now picked his investment vehicles. But that&#039;s not all there is to it, now is it Charmy. Now that investor also has to be sure of a few more things. For among those coins you picked, not a single one of them is rare. On any given day you can go out and buy 25 of each, 50 of each if you want. And what is it that we know to be true when buying coins ? That truth is - that you have to buy the right one. You can&#039;t buy just any example.</p><p><br /></p><p>So here we are, we have our investment vehicles picked out. But what we find when we go to buy them is that there are literally hundreds and hundreds of each out there available to be bought, ranging in grades from G to MS67. And from among those availabe in each and every grade on any given day, only 1 or 2 will really be the one that should be bought. The rest, they&#039;re also rans, coins that should be passed over and not be bought for a variety of reasons. You yourself have said this a number of times.</p><p><br /></p><p>Then we have another issue. We have to consider the spread that we have to overcome before we can ever show a profit on our investment. That spread can often be as high as 40%. For when we buy, we are going to pay upwards of 20% more for the coin than we can turn around and sell it for the same day. Then when we go to sell it, even if it&#039;s a few years down the road, we are going to have to take 20% less than what it is selling for at that time. This is just a fact of life and it cannot be ignored.</p><p><br /></p><p>Now just about anybody that makes their living as an investment advisor is going to tell you that getting into an investment where you have to overcome a 40% spread to show a profit is foolish.</p><p><br /></p><p>Then there is the timing issue. YOu have to buy at the right time, and you have to sell at the right time in order for your investment to be profitable. Miss time either one - and you&#039;ve lost. And as we all know, life has a way of throwing wrenches into our gears and just screwing everything up. This often forces us to sell at the absolute worst time possible.&nbsp; Yes, this is also true with any other investment. It&#039;s not just relegated to coins. But it is a fact that must be reckoned with.</p><p><br /></p><p>And finally we have one more thing to consider - the amount of money involved. And that amount is way, waaaaaaay more than the average collector, or even the average investor, has to work with. You don&#039;t get Gem quality, investment quality coins for anything less than many thousands of dollars. Probably 95% of collectors out there could afford maybe 1 coin of this type. And what&#039;s the first rule of investing ? Diversify.</p><p><br /></p><p>Now given all of this - this is why I will always say that coins make a lousy investment.[/QUOTE]</p><p><br /></p>

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