@Sonorandesertrat said:
Most coin collectors lose money, for various reasons.
I think the reason most collectors lose money because it's treated as a hobby so those people buy what they "like", not necessarily what will have a positive return.
I have met plenty of people who lost money because:
1. they did not really know how to grade (some lost their retirement savings because of this)
2. they blindly followed the investment advice offered by some well-known dealers, who were simply pushing whatever they had in their inventories
3. they left lots of money on the table when selling (even though they 'bought right')
4. they bought and held for multiple 'market cycles,' because that is what they were taught to do in these investment books---this does not necessarily work; sometimes it is smarter to flip when the opportunity presents itself
ETC.
Member: EAC, NBS, C4, CWTS, ANA
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
Depending on ones viewpoint a collector does not lose money, or loses somewhat, but that is buffeted by they still have a collection,that was bought as a collector. An investor is the one who can lose money more so. They bought in from the standpoint of making money.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
I am teaching my silver stacking friend some history/background on his silver coin holdings. The 1919-p doubled die dime, Peace Dollars and Morgans, etc. Have also given him some basic info. on the minting process and on error coinage. It's a start.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
Comments
I think the reason most collectors lose money because it's treated as a hobby so those people buy what they "like", not necessarily what will have a positive return.
I have met plenty of people who lost money because:
1. they did not really know how to grade (some lost their retirement savings because of this)
2. they blindly followed the investment advice offered by some well-known dealers, who were simply pushing whatever they had in their inventories
3. they left lots of money on the table when selling (even though they 'bought right')
4. they bought and held for multiple 'market cycles,' because that is what they were taught to do in these investment books---this does not necessarily work; sometimes it is smarter to flip when the opportunity presents itself
ETC.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Depending on ones viewpoint a collector does not lose money, or loses somewhat, but that is buffeted by they still have a collection,that was bought as a collector. An investor is the one who can lose money more so. They bought in from the standpoint of making money.
I am teaching my silver stacking friend some history/background on his silver coin holdings. The 1919-p doubled die dime, Peace Dollars and Morgans, etc. Have also given him some basic info. on the minting process and on error coinage. It's a start.