Gold/Silver coins question
Csmontie
Posts: 184 ✭✭
in Q & A Forum
Hi - i'm looking for a good dealer as I would like to start buying gold/silver coins to put away as an Investment. There are so many sites out there and I was wondering what this forum's thoughts were on the best and worst dealers out there. Also any thoughts on certain coins that amy better than others for investment and a quicker sale. Apprecaite any guidence from those that have been doing this for a while. Thank you Craig
Working on 1961 1972 1973 topps sets
0
Comments
Just a couple of comments, but not addressing everything you’re hoping to hear:
1. Your goal of successfully making profits from coins as an investment is difficult, especially short term, unless you’re buying coins/items tied heavily to the price of precious metals AND those prices go up.
2. To make profits from numismatics, you need TIME for your acquisitions to potentially appreciate. You’ll need YEARS of grading experience to make nice profits from buying “raw” coins, and then getting them graded by a major Third Party Grading (TPG) service at a grade higher than what the seller believed the coin to be.
3. In my opinion, the best shot at appreciation is by sticking to quality coins graded by a major TPG with excellent eye appeal!
4. Without trying to open a can of worms, in my opinion, your chances of success are increased if you buy coins that merit a CAC. Potentially more profits can be made by those with experience in seeking graded coins without CAC stickers, and them submitting them at only $15 each, and getting them stickered. But this is super tough, as many coins of value without CAC stickers have previously been submitted to CAC, but FAILED to sticker. I buy my coins that already have CAC stickers.
5. Rules of this forum prohibit us from posting names of dealers to stay away from. In my opinion, most dealers are honest, but even then price negotiation is still absolutely required to avoid overpaying.
6. Don’t get super focused on price guides. Those are only guides, and numismatic coins are not commodities. Within the same grade with the same TPG, prices will vary quite a bit, and there’s nothing wrong with paying a little more for those coins with the best eye appeal. In my opinion, it’s those coins that will appreciate the most.
7. Don’t limit yourself just to dealers. It’s also OK to buy quality coins from auctions, such as those from (in alphabetical order) DLRC, Great Collections, Heritage, Legend, and StacksBowers.
I hope you agree this is somewhat helpful.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
post your question here: https://forums.collectors.com/categories/precious-metals
Hi Craig,
Welcome.
Yes, it's not clear from your question if you are interested in a gold/silver bullion investment or rare coins, valued well above their metallic value. Different dealers specialize in each category, although some do both well.
And you need to study up on the intricacies of investment grade numismatic items which involves many factors known in statistics. Good luck. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
As shown on above posts!
I would say forget about investing in numismatic coins. There are so many pitfalls and you have a much better chance of realizing appreciation investing in a good mutual fund. If you want to have some hedge against inflation buy bullion coins or bars at the lowest premium possible (price over melt value) from a reputable dealer.