Moving away from CRH to investing in coins

[GlenDronach]

Hi everyone-

I will still look for some valuable coins through CRH, but now I want to look more into high quality coins that will appreciate in value. Basically I'm looking for some things that I will enjoy owning, that I can sell later or pass on to my future children.

I have a contact who buys and sells coins that is guiding me. He also gave me a 2010 Red Book just to take a look at what is available and how much things generally cost.

I am going to my first coin show this weekend to get an idea for what is available, what things cost, and what interests me.

Any other advice/resources for someone getting into this?

Budget: I'd be able to put away only a little bit a month, but I have no problem spending several hundred or in the low thousands on a coin if it sparks my interest or looks like a good move once I save up.

Some things I have rattling around in my head: graded or ungraded, what company, what grade, what time period, what composition. Trying to sort it all out can be difficult

Thanks!

 

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[sagittarius98]

"What countries?" would also be a good question to ask.

 

[Rigo]

Coin collecting is fun and I know because I have been doing it for about 17 years. Many numismatists (specially the young) start small by searching change or coin roll hunting. It is totally normal and ok to move on and up with time. I sold for many years and now just enjoy collecting. Stopped US coin collecting and now collect silver world coins instead. Like the one below.



Your friend started you off good, with a redbook. There is good information inregards to dates minted, quantity minted, facts on designers, metal content and even some known varieties or errors and even changes in designs.

One mistake I have noticed on many new collectors is that when they get deep into coin collecting, they tend to buy impulsively. This will affect the "quality" of coin collection you want to have. I recommend you to choose a series you like first and that is within your butget. For me, the easiest series to complete in GEM BU grades and affordable is the Roosevelt dime series. Or, you can do the Mercury dime series (keep in mind the key dates can run very, very high).

Another great series is the Kennedy Half or even Benjamin half series. Those are fun to put together. As for graded or not. Well, that is personal preference. I used to collect nothing but certified. Now, I want my world coins uncertified to put into 2x2s and in a binder.

Also, a coin show is the best place to buy coins. Reason why is because you get the see, hold and study the coin in person. You can make deals or a counteroffer to the dealer. And coins tend to be much, much cheaper than that of eBay, per say. This comes to learning how to grade a specific series you will collect though. So study about the grading of a coin series before you start buying. If you chose to go with "certified" coins, buy the coin, not the slab it's in.

I am always willing to help and advice or even give an opinion. I like helping others and many collectors come to me and ask questions either about a coin they want to buy or one they bought. I hope this helps a little.

 

[GlenDronach]

Great! Thank you very much. Good info there.

I am looking for US coins.

 

[Bowen89]

I did the same thing but with 1oz bullion coins. I hate the premiums but i love some of the coins ive acquired.

 

[PhattyB]

In terms of US Coins, obviously any pre-1933 gold coins and Morgan Dollars are the most desired, and also the easiest to find good deals if you know your gradings well. Places like pawn shops know little to nothing more than the metal content, so scope those places and those alike out regularly.

Seated and bust designs will be additional good choices, but honestly you can't go wrong with picking anything Pre-1965 and making a set, or just accumulating quality specimens.

 

[jerseyben]

Buy the highest grade, lowest mintage coins you can afford.

 

[Rigo]

Gosh, what advices I see. Don't just "buy" things that are pricy and or "rare". Buy what you like. Coins are a part of what you like and should be bought accordingly. You don't have to be just an "investor". Be a collector, enjoy the coins while at the same time, investing in coins that will go up in value and your kids will enjoy and be secure.

Gold and Morgans? Really? Ugh...... Sounds like the PCGS boards. Just my opinion

 

[GlenDronach]

Gosh, what advices I see. Don't just "buy" things that are pricy and or "rare". Buy what you like. Coins are a part of what you like and should be bought accordingly. You don't have to be just an "investor". Be a collector, enjoy the coins while at the same time, investing in coins that will go up in value and your kids will enjoy and be secure.

Gold and Morgans? Really? Ugh...... Sounds like the PCGS boards. Just my opinion

A mix of both, I think!

What I want to do is find coins that are interesting/significant to me, and buy the key dates I can afford from that set. I'd rather have some nice examples of multiple coins. But being silver/gold won't hurt. Not sure I want to buy gold at this price though.

 

[PhattyB]

Gold and Morgans? Really? Ugh...... Sounds like the PCGS boards. Just my opinion

I don't go to the PCGS boards but it's common knowledge those have been the most collectible coin since before the internet was invented.. hell, probably before computers. Scoff all you want, but when somebody asks investments that hold and appreciate their value, then it comes down to popularity foremost. That's just not for coins either.

I was digging your comment until you went all coin hipster (counter-culture, anti-mainstream)

To continue to build on the topic, I think the key to the original question is to diversify your collection, and always seek the top deal. My collection, I don't particularly care about cents and nickels, nor more modern than 1970. But I know the values, key dates and gradings of Indian Heads, Wheats, Buffalos and V-Nickels, ASEs and I'll buy them below.

The second part is metal content. Silver, gold and platinum aren't going to tank, they will grow longterm. Copper and nickel, not so much..

 

[Iron Patch]

You can burn through 5-10k pretty quick buying quality coins. It wasn't until I started buying and selling them did I realize that I could have never collected because my taste was well beyond my budget.

I wouldn't look at it as an investment, because you never know what the future will hold, and unless you're spending big money in the end it's probably not going to gain or lose a whole lot. With that said, buy coins you like and enjoy, and to me that covers a wide variety - just about everything you can imagine. Buying high grade US coins 'might' be the best way to go for an investment, but receiving a collection of many different coins is way more fun... at least that's how I see it. And when you go that route you can include so much for foreign stuff because the prices tend to be quite a bit lower, but not that low because I am not talking about modern foreign coins. Anyway, if you're all about US coins it makes sense that's what you'll buy, but in the end if this is going to be a gift to someone else, then maybe that might take a little emphasis off the investment aspect of it and make you think about what someone would enjoy the most. As a kid by far the biggest influence I ever had was going to my aunt's house and her boyfriend hauling out a huge pile of coins he collected from all over the world. I didn't have a clue what any of them were, but damn was it cool to look through them. Had they been big Spanish silver, and a lot of all the other stuff that i now know is out there, I probably would have been over the moon even more than I was. That's a good 30 years ago I seen the coins, don't even remember what the guy looked like, but still remember the feeling seeing all those coins on the table.

 

[unclemac]

gold coins....us, top quality, historic gold coins. Not bullion coins.