What do you think?

Discussion in 'Coin Chat' started by Onofrio Bacigalupo, Apr 23, 2017.

  1. Onofrio Bacigalupo

    Onofrio Bacigalupo Well-Known Member

    I've come to the conclusion that the only coins worth collecting are limited issued gold coins. The rest, with certain exceptions, aren't worth the time, trouble or space. So I'm upgrading my collection with gold and selling the rest.
     
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. chrisild

    chrisild Coin Collector

    Depends on what the aim of a collection is. With fairly modern "mass production" coins you will indeed often spend more than you might later get if you want to sell any. But if somebody is interested in coins with certain themes or from a very specific period, he or she may very well not care about that aspect, or about gold. :)

    Christian
     
  4. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    That is your opinion. You can do whatever you want.
     
  5. ToughCOINS

    ToughCOINS Dealer Member Moderator

    That seems a very personal opinion, rather than a conclusion that all collectors of coins would agree with. Many of them would counter your statement by claiming a different type of coin to be more worthwhile.

    You might preserve your investment pretty well in gold, but will you be able to make as many individual purchases to enjoy? Will you enjoy them as much if you need to keep them locked away in a more secure place than you presently use?
     
    Santinidollar and SchwaVB57 like this.
  6. usmc60

    usmc60 SEMPER FI

    Like Paddy said, what you choose to collect is your choice. I look at it this way if I was to take the money that I invested in state quarters, and invested that in the gold instead of state quarters I would've been a better off.

    But like in life you make choices. I should listen to myself back in the year 2000.
    I used to go to the swap meets on Saturdays and Sundays to get rid of some accumulated items. And of course I'd have one little section for coins. Even back then the most popular coin that I was selling was the 10th ounce gold eagle. The men really like these coins for gifts for their wife or girlfriend.

    They would take them to the jeweler and have them put in necklaces. And for a short while there I was taking orders for the 10th ounce gold eagle.
    It seems the only time I made any money on state quarters was in the beginning. When coin shops could not keep them in their shop because of everyone collecting them.

    Now the only way I see to making any money on my two complete sets of state quarters is to break them up and sell them separately. They seem to be worth more money that way especially the proof and Silver proofs.

    The silver proofs I may hold on to. Because of course their silver. But the proofs I May just breakup and individually sell them, and put that money back into 10th ounce gold Eagles. USMC60
     
  7. kanga

    kanga 65 Year Collector

    Can you be more specific?
    I get the feeling you are talking about modern issues.
     
  8. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    I don't agree. Buy quality, not junk or average material, whatever the metal. Lots of collectors are "hole fillers", an empty hole in an album bugs them until they fill it. They should resist that temptation and wait to find a quality coin to put in there, even if the search takes two years.

    Gold - a lot of gold coins have prices tied to bullion, not MATCHING it, but close enough that when bullion moves, the coin's price does too. This means you have bullion price risk. Bullion has not, is not, and WILL NOT be going straight up. It dips and swerves like a shore bird. There is no "magic bullet" other than buy when things are NOT hot, and sell when they are. That means knowing trends and having the discipline to buck them and do the opposite.

    Sounds to me like you're suffering from numismatic Weltschmerz.
     
    Last edited: Apr 23, 2017
  9. Rick Stachowski

    Rick Stachowski Motor City Car Capital

  10. SchwaVB57

    SchwaVB57 Well-Known Member

    Instead of being a collector it sounds like you are an investor. Collectors buy what they can afford and hopefully enjoy. Investors are usually only interested in a profit. Most of us collectors hope in the back of our mind to reap a small reward for collecting. However, unless you collect; as you stated, rare gold and silver series coins or error type coins; a return on your purchase price will be a long time coming for most collectors. (Probably our heirs will reap the reward, because they have no original skin in the game)
    There is nothing wrong with being an investor or a collector. It is your money! Buy what you like and enjoy.
     
    Dr. G, CoinZone, furham and 2 others like this.
  11. Stork

    Stork I deliver Supporter

    What do I think? Have fun with that. Whatever floats your boat. And, wouldn't the world be boring if everyone liked the same stuff?

    Curious what you are defining in these categories and how you specify the difference between collecting vs. investing. I apparently collect dog fur. My investments are stocks/bonds/real estate, and yes some precious metals. Coins are somewhere in between.
     
  12. ldhair

    ldhair Clean Supporter

    If it's fun, go for it.
     
    SchwaVB57 and Ericred like this.
  13. spirityoda

    spirityoda Coin Junky

    buy what you like. when you say it isn't "worth the time, trouble or space" makes me think you are loosing the fun in coin collecting. if you can afford gold... great go with that, but still have fun with it.
     
    SchwaVB57 likes this.
  14. Onofrio Bacigalupo

    Onofrio Bacigalupo Well-Known Member

    Thank you.
     
  15. Onofrio Bacigalupo

    Onofrio Bacigalupo Well-Known Member

    Thank you.
     
    spirityoda likes this.
  16. Onofrio Bacigalupo

    Onofrio Bacigalupo Well-Known Member

    I collect real estate also but don't really like it. I really like gold!
     
  17. Onofrio Bacigalupo

    Onofrio Bacigalupo Well-Known Member

    Thank you.
     
  18. Onofrio Bacigalupo

    Onofrio Bacigalupo Well-Known Member

    spirityoda, KevinM and ldhair like this.
  19. Onofrio Bacigalupo

    Onofrio Bacigalupo Well-Known Member

    You may be right about world weariness or melancholy but gold has always been increasing even after the disastrous eighties. President Ford, the best President that numismatists ever had. Gerald Ford didn’t do much as president – but for that, he should be celebrated! One thing he did do is make it legal for Americans to own gold again, so he certainly deserves credit there.
     
  20. chrisild

    chrisild Coin Collector

    Oh dear. I'm just glad I don't live anywhere near such a place. :)

    Christian
     
    Kentucky likes this.
  21. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    You obviously missed the 90's.
     
Draft saved Draft deleted

Share This Page