@291fifth said:
If you are paying retail then you can forget about it being an investment. Think like a dealer and buy like a dealer.
You might end up with a bunch of junk like a dealer too.
Successful dealers don't end up with a bunch of junk because they don't buy junk. A successful dealer knows the market and he knows how to "read" potential buyers and sellers.
Plenty of dealers buy junk and know what they can pay for it (and then flip it if they care to).
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@291fifth said:
If you are paying retail then you can forget about it being an investment. Think like a dealer and buy like a dealer.
You might end up with a bunch of junk like a dealer too.
Successful dealers don't end up with a bunch of junk because they don't buy junk. A successful dealer knows the market and he knows how to "read" potential buyers and sellers.
Plenty of dealers buy junk and know what they can pay for it (and then flip it if they care to).
I've spent the better part of a year helping a dealer-friend's widow sell his estate. The volume of...er...esoterica filled two U-hauls. My two "favorite" items:
Roughly 40,000 canceled checks from the 1880s. Obvious warehouse find.
Roughly 5,000 unused token picture cases (brass token with an open back for a photo) without the pictures from a 1908 Watchman Institute fundraiser. Another obvious warehouse find.
Years ago, he and I split a deal on 4000 never-issued tobacco and liquor tax certificates. Government warehouse find. It's been over 20 years and I still have a couple. He had almost 1000 left until last year when he finally wholesaled them.
@291fifth said:
Successful dealers don't end up with a bunch of junk because they don't buy junk. A successful dealer knows the market and he knows how to "read" potential buyers and sellers.
Successful dealers cherrypick the good stuff and leave sellers with the junk, then?
@291fifth said:
If you are paying retail then you can forget about it being an investment. Think like a dealer and buy like a dealer.
You might end up with a bunch of junk like a dealer too.
Successful dealers don't end up with a bunch of junk because they don't buy junk. A successful dealer knows the market and he knows how to "read" potential buyers and sellers.
Plenty of dealers buy junk and know what they can pay for it (and then flip it if they care to).
One good reason for buying all the junk is that if you don't, there's the possibility the seller will show the good stuff to somebody else while trying to sell what you don't want and you end up losing out on the deal when the next dealer offers to buy it all.
Mention of investment in a coin thread is bound to bring out a range of predictable responses
"Coins aren't an investment. Buy what you like with fun money"
"Become a specialist, focus on a niche. Develop a client base"
"Become a junk and scrap metal dealer. Turn it into a full time job"
There's a current thread over on the PM forum, "what metals would you buy with $10k, and that turned into a discussion of the rental real estate business, suggesting we buy houses cheap, remodel them ourselves, and rent to college kids. 😂
The op asked about buying and holding some collectible coins for years, so that's how I'll answer.
Buy some solid US type coins in all metals. Add a few key dates in popular series. You like foreign? Get some, add in a few ancients and colonials. Pick up a few early and scarce die varieties, and a few Major Errors. Stay away from anything really common and easy to find nicer than the pieces you're considering. Buy some nice gold and platinum as near to spot as you can. Get some rolls of BU 1945-59 silver coins, and some Uncirculated details, very lighly hairlined/fingerprinted seated and Barber coins, dip them, and stick them in albums and envelopes.
Lock it all up and forget about it for a couple decades while you finish school, start a career, raise a family, then when you Retire and the kids move out, open up the boxes, get the stuff slabbed and stickered, and send it to auction.
@291fifth said:
Successful dealers don't end up with a bunch of junk because they don't buy junk. A successful dealer knows the market and he knows how to "read" potential buyers and sellers.
Successful dealers cherrypick the good stuff and leave sellers with the junk, then?
They pay little or nothing for it when buying large collections. The really smart ones then unload the junk quickly and put the money back to work. Allowing large amounts of "junk" to pile up is not a good practice for a dealer but I know many do just that. Take stamp dealers as an example. There aren't many left today but you can be fairly certain that when they buy collections they strip all the "good stuff" out and then pile up the rest, albums and all, in the back room. It isn't uncommon for such piles of albums to equal 10 or more feet (sometime much more) of shelf space. Some coin dealers do the same thing when they buy folder and album collections of 20th century coins. Wait, just a second ... here comes the elderly couple with several cardboard boxes full of proof and mint sets ...
Hi jm, I got my W's from rolls when they were still sell on eBay for good money. I sold rolls with W enders for big cash. One $10 roll sold for $129! I made relations at local banks and grocery store like Safeway, they would call me when they got new (boxes) of quarters in... I sold over 200 coins at ~70% profit.
I struck while the iron was hot... And I filling my Peace Dollar collection with my earning. Thanks Joe
@291fifth said:
Successful dealers don't end up with a bunch of junk because they don't buy junk. A successful dealer knows the market and he knows how to "read" potential buyers and sellers.
Successful dealers cherrypick the good stuff and leave sellers with the junk, then?
They pay little or nothing for it when buying large collections.
Well, yeah. How much would you pay for junk if you were a dealer?
Hi jm, I got my W's from rolls when they were still sell on eBay for good money. I sold rolls with W enders for big cash. One $10 roll sold for $129! I made relations at local banks and grocery store like Safeway, they would call me when they got new (boxes) of quarters in... I sold over 200 coins at ~70% profit.
I struck while the iron was hot... And I filling my Peace Dollar collection with my earning. Thanks Joe
That's great. But the question was what to acquire now for later. If you look at the price of the 1996-W dime, W quarters have likely peaked.
@Joe_360 said:
Sure it is, kind of like flipping a house... I did keep 6 complete sets and some rolls with W enders. Thanks Joe
Dude. Read the first post: "the best coins to buy and HOLD for a long time"
The fact you've kept some proves nothing at this point. And when you flip a house, you don't keep it, you know.
Dude, if you can make money quicker all the better..
And from my earning, I'm buying silver Peace Dollar as my long term investment, also how many post start off with one topic and move to some related but off topic. That's what makes the forum interest. Thank and enjoy the rest of your Sunday
@Joe_360 said:
Sure it is, kind of like flipping a house... I did keep 6 complete sets and some rolls with W enders. Thanks Joe
Dude. Read the first post: "the best coins to buy and HOLD for a long time"
The fact you've kept some proves nothing at this point. And when you flip a house, you don't keep it, you know.
Dude, if you can make money quicker all the better..
And from my earning, I'm buying silver Peace Dollar as my long term investment, also how many post start off with one topic and move to some related but off topic. That's what makes the forum interest. Thank and enjoy the rest of your Sunday
Except if you are going to change topics, you kind of have to tell us. Otherwise, silly us, we thought you were answering the question asked.
By the way, peanut butter soup. See if you can figure out what the question was.
I seriously doubt that. If you can get them for face value that's another thing entirely, but I can say that about lots and lots of coins.
Hi Deltex, well, doubt away, between 2019 and 2020, I sold 213 W Coins for a "net" profit of $3182.
I remove 95% myself from rolls, so at face value. Thank you, Joe
Yes. Thank you. That is my entire point. If you can get them at face value and sell them for $15 each, that's a great deal. Similarly, if you can get Saints at $20 you're going to make a lot of money. The question is, is it a good investment to buy W-quarters right now at $15 in lightly uncirculated grades, say AU 58 to MS 63?
I seriously doubt that. If you can get them for face value that's another thing entirely, but I can say that about lots and lots of coins.
Hi Deltex, well, doubt away, between 2019 and 2020, I sold 213 W Coins for a "net" profit of $3182.
I remove 95% myself from rolls, so at face value. Thank you, Joe
Yes. Thank you. That is my entire point. If you can get them at face value and sell them for $15 each, that's a great deal. Similarly, if you can get Saints at $20 you're going to make a lot of money. The question is, is it a good investment to buy W-quarters right now at $15 in lightly uncirculated grades, say AU 58 to MS 63?
No. it's not,
The question is, is it a good investment to buy W-quarters right now at $15 in lightly uncirculated grades, say AU 58 to MS 63?
@cameonut2011 said:
Has anyone figured out a way to short the U.S. certified "rare" coin market?
Well, I don't know that it is called shorting the market, but just about anything I buy is almost guaranteed to lose value! Or at least, that's the way it seems.
@cameonut2011 said:
Has anyone figured out a way to short the U.S. certified "rare" coin market?
Well, I don't know that it is called shorting the market, but just about anything I buy is almost guaranteed to lose value! Or at least, that's the way it seems.
OK< Sooooo those guys here that are looking for investment advice (I'm not one of them, thanks anyway) probably want to know what YOU'VE been BUYING so they can buy something else!
People, right or wrong, hear the words coin collection and think it automatically has great value and will continue to increase in value. Maybe that’s due to hearing stories about found coins that were passed down generation by generation or other dug up treasures. The fact is that the US coin market is, for the most part, a mature market. There are some values to be had but not many and, like stocks, no one really knows what will increase in value in the future. This doesn’t necessarily include the ultra rarities. The only sure fire way to increase value in your collection is to increase the number of people collecting.
@Baley said:
Mention of investment in a coin thread is bound to bring out a range of predictable responses
"Coins aren't an investment. Buy what you like with fun money"
"Become a specialist, focus on a niche. Develop a client base"
"Become a junk and scrap metal dealer. Turn it into a full time job"
There's a current thread over on the PM forum, "what metals would you buy with $10k, and that turned into a discussion of the rental real estate business, suggesting we buy houses cheap, remodel them ourselves, and rent to college kids. 😂
The op asked about buying and holding some collectible coins for years, so that's how I'll answer.
Buy some solid US type coins in all metals. Add a few key dates in popular series. You like foreign? Get some, add in a few ancients and colonials. Pick up a few early and scarce die varieties, and a few Major Errors. Stay away from anything really common and easy to find nicer than the pieces you're considering. Buy some nice gold and platinum as near to spot as you can. Get some rolls of BU 1945-59 silver coins, and some Uncirculated details, very lighly hairlined/fingerprinted seated and Barber coins, dip them, and stick them in albums and envelopes.
Lock it all up and forget about it for a couple decades while you finish school, start a career, raise a family, then when you Retire and the kids move out, open up the boxes, get the stuff slabbed and stickered, and send it to auction.
I think yours is a reasonable an answer as any, though I am negative on the financial prospects for coin collecting generally.
The examples in the OP are likely to perform poorly financially for the reasons given in prior posts. Might be bailed out by rising silver spot somewhat but nothing more. Panda has better prospects to me than a common MS-63 or MS-64 Morgan or Philippine peso in a grade near 61.
@cameonut2011 said:
Has anyone figured out a way to short the U.S. certified "rare" coin market?
Nobody would want the other side of that trade. You could do it via contract.
You pay me now at market rate (Greysheet, PCGS guide, whatever) for an S-VDB in PCGS XF that I will deliver to you in X years.
You might be able to incentivize it by turning it into a payment plan. You pay me X $s per month for Z months at which point I deliver.
The problem is that no collector wants to wait for delivery and most collectors would want to choose the coin not buy sight unseen.
Turning coins into the equivalent of financial instruments isn't feasible. Even most "widget" coins usually aren't similar enough most of the time or aren't the target of financially motivated buying. Financial scale is also immaterial making liquidity too poor.
The closest segment I see with any prospects to do it is with US generic classic gold but not for short selling.
Luckily a modest 1963 Lincoln proof I find raw, grade, and enjoy enamors me more than 10K "investment"
But I like dealing... coins, cards, or anything of value.
I would say the best short term investment in the next 3 years will be CASH to buy, CASH savings up to 6 to 12 months of living expenses
Debt freedom
Viable career.
Numismatic education today will pay dividends later.
Been down this road once or twice.
People are chasing and chasing returns in every sector... and the ending usually is not pretty.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Couple thoughts on the OP. The coins that seem to do consistently well are condition census classic gold coins that are in PCGS holders and have CAC approval.
Also, keep in mind that not all coin collectors have the same ability or knowledge. John Albanese will do far better selecting coins as an investment than the avg collector.
Also its always dangerous to use hindsight as the measuring stick. Just like someone can say S & P 500 has done better than coins, someone else could say your leaving money on the table with the S & P and you would have done much better with Bitcoin.
Any bullion gold coin when the price of gold is depressed. Like......really low. Might have to wait 10 years or more for the cycle to come around but who could argue otherwise? I don't think people around here would. That's the money maker.
@nags said:
Over the past few years the best coin investment was been CLCT (which is now indicated as 19421R200).
The OP's question was about best "coin investment" for a buy and hold, not past performance of a "coin related investment".
Well, there's a whole other argument that could be had here. If the best "coin investment" is not the coins but the businesses behind the coins...
I'm also not sure that PCGS is the driving force for CLCT profits.
Edited to add:
From the May 2020 10k filing:
● The $0.8 million decrease in net revenues in this year’s third quarter, included a $1.2 million, or 17%, increase in cards/autographs revenues, more than offset by a $1.8 million, or 16%, decrease in coin revenues. The cards/autographs revenues represented a third quarter record for that business, despite the disruption and closure of our U.S. operations in the second half of March 2020. The coin revenues decrease included a $1.2 million or 12% decline in U.S. coin revenues and a $0.4 million decrease in China revenues in the quarter.
Anything you pay something for is an investment.
The key is to know how much you are willing to pay for "anything", as the secret of making a profit is in your ability to pay just enough so you will know that you are making a profit and you and the seller part as friends!!!!
with other words: you make your profit when you buy!
I always cringe when I see 'Coins' and 'Investments' in the same sentence.
Until another major hype situation occurs (or silver goes to $50/oz), I'm afraid the MS63 Morgans will be dead money. There are so many of them in existence, they may even be overpriced right now.
One man's opinion. Good luck!
Dave
Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
If the OP was buying MS63 for $50 then he likely made a profit.
Collectors need a long term vision and passion, and some ability to mitigate expenses while buying and holding. That means being selective and not settling for sub standard.
For investment. I still like a heavy cash position.
PM dealer or the late Richard Nachbar comes to mind.
Constantly turn over deals and recycle the cash.... 2 to 5% net. Or liquidate collections.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I hesitate to call any purchase an investment, even stocks and bonds. More speculation. If the coin market drops like stamps have, I will have no problem picking up all the pieces of the hobby for dirt-cheap prices. The coins in my personal collection are there to stay. A dealer shouldn't put too much effort into "investing", it's like trying to predict the weather on a certain day 10 years out. Better to go day-to-day.
If you're really looking for coins to invest in, I would choose key-dates. Stay away from Morgans and Peace dollars right now and stay away from future collecting fads. 1909-S VDB has done well, 1916-D merc so on..
Comments
Plenty of dealers buy junk and know what they can pay for it (and then flip it if they care to).
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I've spent the better part of a year helping a dealer-friend's widow sell his estate. The volume of...er...esoterica filled two U-hauls. My two "favorite" items:
Years ago, he and I split a deal on 4000 never-issued tobacco and liquor tax certificates. Government warehouse find. It's been over 20 years and I still have a couple. He had almost 1000 left until last year when he finally wholesaled them.
He loved a good warehouse find.
I miss him.
Successful dealers cherrypick the good stuff and leave sellers with the junk, then?
20 years from now?
What's the price of a 1996-W dime?
One good reason for buying all the junk is that if you don't, there's the possibility the seller will show the good stuff to somebody else while trying to sell what you don't want and you end up losing out on the deal when the next dealer offers to buy it all.
Mention of investment in a coin thread is bound to bring out a range of predictable responses
"Coins aren't an investment. Buy what you like with fun money"
"Become a specialist, focus on a niche. Develop a client base"
"Become a junk and scrap metal dealer. Turn it into a full time job"
There's a current thread over on the PM forum, "what metals would you buy with $10k, and that turned into a discussion of the rental real estate business, suggesting we buy houses cheap, remodel them ourselves, and rent to college kids. 😂
The op asked about buying and holding some collectible coins for years, so that's how I'll answer.
Buy some solid US type coins in all metals. Add a few key dates in popular series. You like foreign? Get some, add in a few ancients and colonials. Pick up a few early and scarce die varieties, and a few Major Errors. Stay away from anything really common and easy to find nicer than the pieces you're considering. Buy some nice gold and platinum as near to spot as you can. Get some rolls of BU 1945-59 silver coins, and some Uncirculated details, very lighly hairlined/fingerprinted seated and Barber coins, dip them, and stick them in albums and envelopes.
Lock it all up and forget about it for a couple decades while you finish school, start a career, raise a family, then when you Retire and the kids move out, open up the boxes, get the stuff slabbed and stickered, and send it to auction.
Liberty: Parent of Science & Industry
I seriously doubt that. If you can get them for face value that's another thing entirely, but I can say that about lots and lots of coins.
They pay little or nothing for it when buying large collections. The really smart ones then unload the junk quickly and put the money back to work. Allowing large amounts of "junk" to pile up is not a good practice for a dealer but I know many do just that. Take stamp dealers as an example. There aren't many left today but you can be fairly certain that when they buy collections they strip all the "good stuff" out and then pile up the rest, albums and all, in the back room. It isn't uncommon for such piles of albums to equal 10 or more feet (sometime much more) of shelf space. Some coin dealers do the same thing when they buy folder and album collections of 20th century coins. Wait, just a second ... here comes the elderly couple with several cardboard boxes full of proof and mint sets ...
Hi Deltex, well, doubt away, between 2019 and 2020, I sold 213 W Coins for a "net" profit of $3182.
I remove 95% myself from rolls, so at face value. Thank you, Joe
Hi jm, I got my W's from rolls when they were still sell on eBay for good money. I sold rolls with W enders for big cash. One $10 roll sold for $129! I made relations at local banks and grocery store like Safeway, they would call me when they got new (boxes) of quarters in... I sold over 200 coins at ~70% profit.
I struck while the iron was hot... And I filling my Peace Dollar collection with my earning. Thanks Joe
Well, yeah. How much would you pay for junk if you were a dealer?
If you can find it.
So they're not an investment, then?
"I have some thoughts about the best coins to buy and HOLD for a long time to make a decent return on your money."
Sure it is, kind of like flipping a house... I did keep 6 complete sets and some rolls with W enders. Thanks Joe
Dude. Read the first post: "the best coins to buy and HOLD for a long time"
The fact you've kept some proves nothing at this point. And when you flip a house, you don't keep it, you know.
That's great. But the question was what to acquire now for later. If you look at the price of the 1996-W dime, W quarters have likely peaked.
Dude, if you can make money quicker all the better..
And from my earning, I'm buying silver Peace Dollar as my long term investment, also how many post start off with one topic and move to some related but off topic. That's what makes the forum interest. Thank and enjoy the rest of your Sunday
Except if you are going to change topics, you kind of have to tell us. Otherwise, silly us, we thought you were answering the question asked.
By the way, peanut butter soup. See if you can figure out what the question was.
Tiss my hobby, if it turns to be an investment.. all the better 😊
Yes. Thank you. That is my entire point. If you can get them at face value and sell them for $15 each, that's a great deal. Similarly, if you can get Saints at $20 you're going to make a lot of money. The question is, is it a good investment to buy W-quarters right now at $15 in lightly uncirculated grades, say AU 58 to MS 63?
No. it's not,
The question is, is it a good investment to buy W-quarters right now at $15 in lightly uncirculated grades, say AU 58 to MS 63?
Has anyone figured out a way to short the U.S. certified "rare" coin market?
Well, I don't know that it is called shorting the market, but just about anything I buy is almost guaranteed to lose value! Or at least, that's the way it seems.
Nobody would want the other side of that trade. You could do it via contract.
You pay me now at market rate (Greysheet, PCGS guide, whatever) for an S-VDB in PCGS XF that I will deliver to you in X years.
You might be able to incentivize it by turning it into a payment plan. You pay me X $s per month for Z months at which point I deliver.
The problem is that no collector wants to wait for delivery and most collectors would want to choose the coin not buy sight unseen.
Check out the following Van Simmons video posted here:
https://davidhall.com/
It would carry more weight if he were a financial consultant and he wasn't in the business of selling coins.
If collecting coins was a great investment - all of us long time collectors would be posting all the money we made....Think about it.
WS
OK< Sooooo those guys here that are looking for investment advice (I'm not one of them, thanks anyway) probably want to know what YOU'VE been BUYING so they can buy something else!
People, right or wrong, hear the words coin collection and think it automatically has great value and will continue to increase in value. Maybe that’s due to hearing stories about found coins that were passed down generation by generation or other dug up treasures. The fact is that the US coin market is, for the most part, a mature market. There are some values to be had but not many and, like stocks, no one really knows what will increase in value in the future. This doesn’t necessarily include the ultra rarities. The only sure fire way to increase value in your collection is to increase the number of people collecting.
I think yours is a reasonable an answer as any, though I am negative on the financial prospects for coin collecting generally.
The examples in the OP are likely to perform poorly financially for the reasons given in prior posts. Might be bailed out by rising silver spot somewhat but nothing more. Panda has better prospects to me than a common MS-63 or MS-64 Morgan or Philippine peso in a grade near 61.
Turning coins into the equivalent of financial instruments isn't feasible. Even most "widget" coins usually aren't similar enough most of the time or aren't the target of financially motivated buying. Financial scale is also immaterial making liquidity too poor.
The closest segment I see with any prospects to do it is with US generic classic gold but not for short selling.
Dogecoin!
Luckily a modest 1963 Lincoln proof I find raw, grade, and enjoy enamors me more than 10K "investment"
But I like dealing... coins, cards, or anything of value.
I would say the best short term investment in the next 3 years will be CASH to buy,
CASH savings up to 6 to 12 months of living expenses
Debt freedom
Viable career.
Numismatic education today will pay dividends later.
Been down this road once or twice.
People are chasing and chasing returns in every sector... and the ending usually is not pretty.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I just won this thread.
Price on Pt went up $64 $73 in 48 hrs
My Saint Set
Bust $1/2, and Barbers- esp dimes & quarters, but half $'s are too cheap.
BHNC #203
Couple thoughts on the OP. The coins that seem to do consistently well are condition census classic gold coins that are in PCGS holders and have CAC approval.
Also, keep in mind that not all coin collectors have the same ability or knowledge. John Albanese will do far better selecting coins as an investment than the avg collector.
Also its always dangerous to use hindsight as the measuring stick. Just like someone can say S & P 500 has done better than coins, someone else could say your leaving money on the table with the S & P and you would have done much better with Bitcoin.
Any bullion gold coin when the price of gold is depressed. Like......really low. Might have to wait 10 years or more for the cycle to come around but who could argue otherwise? I don't think people around here would. That's the money maker.
Over the past few years the best coin investment was been CLCT (which is now indicated as 19421R200).
The OP's question was about best "coin investment" for a buy and hold, not past performance of a "coin related investment".
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Well, there's a whole other argument that could be had here. If the best "coin investment" is not the coins but the businesses behind the coins...
I'm also not sure that PCGS is the driving force for CLCT profits.
Edited to add:
From the May 2020 10k filing:
● The $0.8 million decrease in net revenues in this year’s third quarter, included a $1.2 million, or 17%, increase in cards/autographs revenues, more than offset by a $1.8 million, or 16%, decrease in coin revenues. The cards/autographs revenues represented a third quarter record for that business, despite the disruption and closure of our U.S. operations in the second half of March 2020. The coin revenues decrease included a $1.2 million or 12% decline in U.S. coin revenues and a $0.4 million decrease in China revenues in the quarter.
Anything you pay something for is an investment.
The key is to know how much you are willing to pay for "anything", as the secret of making a profit is in your ability to pay just enough so you will know that you are making a profit and you and the seller part as friends!!!!
with other words: you make your profit when you buy!
I always cringe when I see 'Coins' and 'Investments' in the same sentence.
Until another major hype situation occurs (or silver goes to $50/oz), I'm afraid the MS63 Morgans will be dead money. There are so many of them in existence, they may even be overpriced right now.
One man's opinion. Good luck!
Dave
Best Coin Investment to make
As stated: The words "coins" and "investment" in the same sentence??... Not unless you're a professional.
Never met a financial advisor that recommended adding coins to your portfolio. If you do, run the other direction!
If the OP was buying MS63 for $50 then he likely made a profit.
Collectors need a long term vision and passion, and some ability to mitigate expenses while buying and holding. That means being selective and not settling for sub standard.
For investment. I still like a heavy cash position.
PM dealer or the late Richard Nachbar comes to mind.
Constantly turn over deals and recycle the cash.... 2 to 5% net. Or liquidate collections.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Highest graded keys, if you please. Pick a series.
Knowledge
Bitcoin
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Cardano
I hesitate to call any purchase an investment, even stocks and bonds. More speculation. If the coin market drops like stamps have, I will have no problem picking up all the pieces of the hobby for dirt-cheap prices. The coins in my personal collection are there to stay. A dealer shouldn't put too much effort into "investing", it's like trying to predict the weather on a certain day 10 years out. Better to go day-to-day.
If you're really looking for coins to invest in, I would choose key-dates. Stay away from Morgans and Peace dollars right now and stay away from future collecting fads. 1909-S VDB has done well, 1916-D merc so on..