Investing in coins?

Investing in coins?

Post by David Marse » Fri, 25 Jun 1999 04:00:00



Hello,

Can anyone tell me if investing in coins is a good idea? Or do most of you
do it for the enjoyment? We have collected some art and we have always
practiced " Be sure that you would want to hang it on your own walls, as no
one may want to buy it" Are coins the same way?

Thanks,
David

 
 
 

Investing in coins?

Post by J Engelke » Fri, 25 Jun 1999 04:00:00


David Marsey posted:

Hello,

Can anyone tell me if investing in coins is a good idea? Or do most of you
do it for the enjoyment? We have collected some art and we have always
practiced " Be sure that you would want to hang it on your own walls, as no
one may want to buy it" Are coins the same way?

Thanks,
David

Hi, David.  My advice is do it for the enjoyment.  If you want to invest,
pick a good mutual fund.  If your an average guy with an average cash flow,
this is the way to go.  This is my humble opinion, of course.

Jeff

 
 
 

Investing in coins?

Post by John Ston » Fri, 25 Jun 1999 04:00:00


Quote:

> David Marsey posted:

> Hello,

> Can anyone tell me if investing in coins is a good idea? Or do most of you
> do it for the enjoyment? We have collected some art and we have always
> practiced " Be sure that you would want to hang it on your own walls, as no
> one may want to buy it" Are coins the same way?

> Thanks,
> David

> Hi, David.  My advice is do it for the enjoyment.  If you want to invest,
> pick a good mutual fund.  If your an average guy with an average cash flow,
> this is the way to go.  This is my humble opinion, of course.

> Jeff

There are much better investments out there than coins.  Don't believe
any slick sales pitch you may hear about coins. There are many pitfalls
to coin investing.
 
 
 

Investing in coins?

Post by Frank Bettencour » Fri, 25 Jun 1999 04:00:00


I collect coins because I like them, not for an investment.
But if I had the extra money I would probably buy gold and
platinum coins from the U.S. mint.  I really like the
reverses of the platinum american eagle coins. They may
not give me much of a return monetary wise but at least
they would always be worth thier weight in precious
metals and like any commodity that can be checked daily.

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Quote:
> Hello,

> Can anyone tell me if investing in coins is a good idea? Or do most of you
> do it for the enjoyment? We have collected some art and we have always
> practiced " Be sure that you would want to hang it on your own walls, as
no
> one may want to buy it" Are coins the same way?

> Thanks,
> David

 
 
 

Investing in coins?

Post by Mike Dworetsk » Fri, 25 Jun 1999 04:00:00


Quote:

> Can anyone tell me if investing in coins is a good idea? Or do most of you
> do it for the enjoyment? We have collected some art and we have always
> practiced " Be sure that you would want to hang it on your own walls, as no
> one may want to buy it" Are coins the same way?

Buy coins only because you enjoy collecting them.  Buying coins as
'investments' (especially if someone is trying to sell you the coin
because it is a 'good investment') is not a good idea because no one
really knows if these coins are a good investment or not.  If they were
such a great investment, why is he (or she) selling them and not keeping
them?

The reasons for collecting coins might be aesthetic (you like the
designs) or because you are collecting 'themes' (e.g., coins with
sailing ships) or for historical interest (e.g., Roman coins).

A dealer might buy a coin as an 'investment' meaning that he thinks he
can sell it for more than he paid in an short enough space of time to
make a worthwhile profit.  This isn't the same thing.

--
Mike Dworetsky

 
 
 

Investing in coins?

Post by huey » Fri, 25 Jun 1999 04:00:00


Coin collecting is***poor for investing. Unless,
perhaps, you knew exactly what you were doing
and had a lot of contacts to buy and sell.
I've already been ripped by a local coin store. My
fault and I feel stupid for it. Probably won't bother
going back there.
For me it is collecting Americano and the history
and nothing more.
Invest in the stock market for your retirement, please.
Quote:

> Hello,

> Can anyone tell me if investing in coins is a good idea? Or do most of you
> do it for the enjoyment? We have collected some art and we have always
> practiced " Be sure that you would want to hang it on your own walls, as no
> one may want to buy it" Are coins the same way?

> Thanks,
> David

 
 
 

Investing in coins?

Post by Ian Miln » Sat, 26 Jun 1999 04:00:00


This is Not advice, but merely opinion (of which I have plenty).

As soon as you say `investment', then you are in the arena of the
specialist adviser. Discuss your portfolio with them.

I know there are better ways of making your money work for you than
`investing' in coins. That is, unless you intend to make a real effort
at it and go into the `industry' as a dealer.

You can however get a pretty good education (history....and psycholgy!)
through collecting coins and meet a lot of nice people into the bargain.
THAT to me is the best investment you can make.

It's true that once you know a bit more about coins you can probably
make a few shrewd purchases, but (and it's a big BUT) you show me a true
collector who can bear to part with their coins..........!

The way i look on coin collecting is `it's a leisure pursuit'. I spend
money on my interest which I would otherwise be spending elsewhere.

The beauty of this leisure passtime is, if i get fed up with it, and i
have bought shrewdly i will at the very least get my money back or make
a modest profit...as well as retain the pleasure. Not many leisure
pursuits can offer that.

Anything above that has to be a bonus.

Ian

Quote:

> Coin collecting is***poor for investing. Unless,
> perhaps, you knew exactly what you were doing
> and had a lot of contacts to buy and sell.
> I've already been ripped by a local coin store. My
> fault and I feel stupid for it. Probably won't bother
> going back there.
> For me it is collecting Americano and the history
> and nothing more.
> Invest in the stock market for your retirement, please.


> > Hello,

> > Can anyone tell me if investing in coins is a good idea? Or do most of you
> > do it for the enjoyment? We have collected some art and we have always
> > practiced " Be sure that you would want to hang it on your own walls, as no
> > one may want to buy it" Are coins the same way?

> > Thanks,
> > David

 
 
 

Investing in coins?

Post by Hsta » Sat, 26 Jun 1999 04:00:00


 > Hello,
 >
 > Can anyone tell me if investing in coins is a good idea? Or do most of you
 > do it for the enjoyment? We have collected some art and we have always
 > practiced " Be sure that you would want to hang it on your own walls, as no
 > one may want to buy it" Are coins the same way?
 >
 > Thanks,
 > David
 >

 Investing in coins is better than investing in beanie babies
or Barbie dolls.

 
 
 

Investing in coins?

Post by JSTONE93 » Sat, 26 Jun 1999 04:00:00


Quote:

> Investing in coins is better than investing in beanie babies
>or Barbie dolls.
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Could you be more specific?  
 
 
 

Investing in coins?

Post by Joe Sewe » Sun, 27 Jun 1999 04:00:00



Quote:

>Hello,

>Can anyone tell me if investing in coins is a good idea? Or do most of you
>do it for the enjoyment? We have collected some art and we have always
>practiced " Be sure that you would want to hang it on your own walls, as no
>one may want to buy it" Are coins the same way?

In general, that's a good idea for any collectible bought for investment
purposes (IMHO).  On the other hand, since coins are easier to ship than
paintings, it's significantly less likely to have an item that no one
wants to buy ... just put it up on eBay, and you're probably home free.

Investing in coins is like any other medium-risk investment:  know what
you're doing, and be prepared to lose on some items.

Personally, I collect coins for enjoyment.  My personal favorite is Proof
& Mint sets, items which, in general, are not good investment buys ... but
I love the look of the coins.  I do have some coins I bought more for
investment purposes, but to me they are beautiful works of art anyhow,
things that I enjoy.
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Investing in coins?

Post by Mike Bagb » Sun, 27 Jun 1999 04:00:00


Quote:
>David Marsey posted:
>Can anyone tell me if investing in coins is a good idea?

Hello David,

Recently, I have had the opportunity to look at a lot of coins from a lot of
different wholesalers.  Along the way, I've seen a lot of coins that were in
different types of packaging that were sold by telemarketers as 'investment
grade' coins during the 1970s & 1980s.

The people who bought these coins lost their shirts.  Why?

They were buying coins they had need seen from people they did not know for
prices that they did not know were inflated upwards of 300% and sometimes
more.

If you have hopes of making money from the buying and selling of coins, you
had better know what you are doing.  If you listen to someone else's advise
you are going to get buried in coins you'll NEVER sell for a profit.

~mb