Tempted to dip my toes in the proverbial "Dark Side" water
Lately, I've been intrigued by some of the foreign coins I've seen posted on the forum, and have been considering dipping my toes in the water. However, there are several obstacles that are preventing me from doing so, and id like to hear some opinions from the forum.
I have a general understanding of the U.S. Coin market and I'm educated enough to make a significant purchase in my areas of interest (mostly pre-33 gold) without getting burned. I've been enabled to do that as an relatively inexperienced collector because of the overwhelming amount of literature and resources at hand; (Books, PCGS Coinfacts, forum threads, abundance of auction records, tpg grading, cac, etc)
I do see that there are resources available for world coins, but it seems to pale in comparison to the resources available for US Coins. I have a tremendous amount of respect for any collectors that have managed to become knowledgeable in both US coins AND world coins, I cant even imagine how much time and research it takes to do that. Some of the things id like to know are as follows:
Initially, what sparked your interest in foreign coins, and why do you prefer collecting them over US coins? (if you do, in fact, prefer them)
When making a purchase, what are your primary tools used to determine fair market value? For instance, if I wanted to buy an 1861 $20 Lib, I open up coin facts and check price guide and auction records for both cac and non cac examples, and that alone gives me an good idea of where I need to be and what type of example I should hold out for for. It seems like world coins are thinly traded with much less sale history and this process may require some additional resources to check on. One coin in particular that I like is the Mexico 8 Escudos Gold from the 18th or early 19th century, is this a coin where I could make a smart buy fairly easily, or do I really need to immerse myself in knowledge before going down this road?
Do you limit yourself to certain countries and issues? Basically I'm wondering if there's certain markets that have much higher demand, and increased liquidity when selling time comes. We all know collecting isn't an investment, but with the popularity of US coins it seems fairly easy to liquidate at fair market prices with popular issues, I'm curious if world coins are more challenging to do this with. From what I understand, it seems that Canada, Mexico, and Britain are fairly popular.
TIA for any and all opinions provided
Type Collector of U.S. Pre-33 Gold https://instagram.com/deplorable_dan Successful transactions with- @drfish, @Cladiator, @johnny010, @Pedzola, @PerryHall, @2windy2fish, @Ike1964, @JohnThePainter, @rpmsrpms, @REALGATOR