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Best personal numismatic investment
Indianlincoln
Posts: 91 ✭✭✭
What coin did you purchase, held on to, then sold for a profit
How much did you make?
How long did you hold on to the coin ?
Future predictions on investment pieces?
1
Comments
You are new here, so I will let you in on a little secret. Most of us here on these forums collect coins and currency because we love the hobby and have sincere appreciation and admiration for the art and history behind it all.
Is it possible to make a profit flipping coins? Yes, if you know what you are doing - but for most of us, profit is not the primary motivation behind our love for the hobby.
The best investment I ever made was learning, both in my profession and in my hobbies.
Financially, the best I’ve done with coins have been random, happy accidents. Those sort of things sometimes happen when opportunity meets preparation. It would have been impossible to plan for any of those events.
Knowledge.
My 2019 S Enhanced RP Silver Eagle. Paid $65. Worth about 2k!
A Mexico 19th century slabbed silver piece bought online auc $153 low pop (they gave it away) sold at show setup at $475 about 18 mo later. A similar piece bought for $65 sold from my table at show $200 (it was another low pop pick off) . Since then that source tightened process (high minimum bids) lol. You can only work a certain angle so long. Also successful on a few similar type of deals.
It’s all in the deal - find an angle in an area you like that works for you.
Definitely knowledge on grading and authenticity, and knowledge on the date and series you're collecting.
Learning the basics and then specializing is your best bet. That's how I have made my biggest wins.
Over time you will see the patterns of what tends to hold value and what does not. Until that point is reached, just enjoy the collecting
Aerospace Structures Engineer
Never made one. Never will.
This is my hobby, not my profession. I've sold a few coins over the years, including my entire collection a couple of times. I've made some money and I've lost some money. I'd say overall I've come out even, more or less, from a strictly monetary perspective. But...how much is the time I spent enjoying those coins worth? That's the intangible that you can't put a price on, and it's why I still collect coins.
Is the IRS watching? 🥴
I personally don’t consider rare coins an investment vehicle. I do have many examples of coins I’ve sold after holding for 30+ years. Most increased significantly, but the increases pale in comparison to buying and holding the S&P 500 for a similar 30 years. Coin collecting is a simply a fun hobby for me.
Dave
Here's some advice in a currently active thread that's relevant to your question. Simply put - collect nice examples of key-date coins for a good return on your investment.
https://forums.collectors.com/discussion/1088369/story-about-key-date-collecting#latest
I would assume so.
My biggest %age profit was a '70-S nickel that I paid 5c for and sold for $1800. It's step sister from the same bunch went for $150.
Generally the precious metals always did better, like Richard Nachbar's ads used to say.
i can look happily at a nice coin of mine, thats what i love about it, fwiw
As others have already said, this is a hobby for me... discretionary spending after the bills, insurance, and retirement. It's part of my entertainment budget... like going to the theater or out to dinner with friends. That said, I do realize that whereas I'll never get a dime back from a crappy movie or a bad meal... I'll likely recoup at least some money from the coins I've bought and sold.
As far as percentages... I think the worst I've ever done was on the 1909-S VDB I bought to complete my Lincoln Cents... probably about a 15% loss when I sold. The best... probably a Draped Bust 1C I bought for $50 then resold some time later for clost to $200.
We're not talking princely sums of money here... but this isn't my business... it's a hobby...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
best personal numismatic investment: joining this forum
price: $0.00
1877 IHC in AG3 or P01. Purchased for 50 cents. Traded for 90% silver pre HUNT brothers. Turned into a 1914 D and 1911 S Lincolns during HUNT brothers. 50 cents to $800.
Folks who are good at detecting raw coins that are both authentic and will straight-grade can make good profits, if they're up for the whole TPG send-off thing. But I am not one of them.
My Dad always said you make your money when you buy.
The best investment is flipping US mint products, if you’re lucky that your order goes through. That V75 AGE would’ve been one of my best flips if I actually got one, which I couldn’t.
This. Price, it was an inexpensive gift
And these. Not nearly as expensive as the mistakes they prevent
And ofcourse, this lovely free forum. More dang knowledge per sq. in. than a gigantic coin show and convention. 🙀
🎶 shout shout, let it all out 🎶
Time and Effort.
I am a newer collector (started April 2020), and I primarily focus on U.S. Half Cents and Type Coins. Early copper is my favorite.
It’s impossible to predict long term coin or metal prices.
Best ‘investments’ are coins that you can buy and immediately sell elsewhere for a profit. This requires understanding the customer base of each potential sales channel (e.g. eBay vs. national coin show) and acting more like a dealer than an investor.
This....
I started collecting because of the history and i love certain looks of certain coins.
I enjoy holding a raw coin and try to imagine who else held it and what their story holds.
Successful BST transactions with....Coinslave87, ChrisH821, Walkerguy21D, SanctionII.......................Received "You Suck" award 02/18/23
Yeah, but you can only resell it for zero... and if you consider the time investment...
Values will probably change over time.
Besides books and research materials, my best investments were GSA CC dollars bought at retail off ebay. Paid $70 -150 and bought all I could afford. This was during the time period 1995 - 2000. Then when I retired in 2010, I sold off almost all of them at $150 - 550. I raised enough cash to buy a home with a miniscule mortgage. Actually had trouble finding a lender as it was $30,000 and not one they could sell to Fannie or Freddie. I would have paid it all in cash but had to save back money for the capital gains taxes....ugh.
bob
For me. Generally speaking, never invest in numismatics.
However; with that said. There are some (in recent years) how have made "extraordinary" profits from face value coins by simply CRH'ing. Enough to fund major key dates and complete albums/sets.
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
Any profit is just icing on the cake for me. I didn't pursue this hobby to make me rich.
I don't like playing flipper games. Never did.
I never really liked the TV show.
Pete
Ah
However profit can come in very handy
For example I buy a coin I love, with good eye appeal and some good price negotiations. Along with keeping fees down by buying at shows or avoiding taxes from buying at shows. I can make a slight profit in a years time and upgrade the coin that I just sold to a better graded example
All for the love of the hobby, admiration of art and history
Like many of us, this is a hobby to me ... but one of the few hobbies I have where I have come to expect an ROI ... where ROI is a Return Of Investment (or a good portion of it), not necessarily of Return On Investment..
My best investments ...
Time ... countless hours looking, studying, reading and talking about coins. Knowledge is powerful.
Money ... library material which I can refer to and learn from ... books that have paid dividends over, and over, and over
Actual Coins and Paper ... patience and understanding, both in what I was buying, and what I should keep.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Lol. Way to go out on a limb.
Ah, the great show myth. You do know that shows could well have higher fees than auctions? Shows are expensive for dealers and they add the cost to the price you pay.
Fees don't matter. Net cost inclusive of fees are all that matter. There is no difference between $100 and zero fees and $50 with 100% premium.
If you could buy a coin at retail and flip it in a year for a profit so easily, don't you think we'd all be rich? I can't speak for everyone, but I'm not typing from my private island.
How long does it take to turn your entire coin inventory? Every 7 days?
About one hour in a coin shop As long as return is not an issue. I’m certain I can recover most of my costs by cashing out. And perhaps a little extra as I’ve bought a number of easy sale inventory. I’m good.
Now to replace with new inventory, that’s very time consuming.
🎶 shout shout, let it all out 🎶
Coin collecting is certainly my hobby. However, gold coins both certified and ungraded Liberty Heads, Indians, SG, etc. that I purchased 4-5 years ago appreciated by $6K giving me some trading leverage on a recent trade for a rare coin.
I didn't buy the gold coins thinking of selling or trading them. I liked the certified and ungraded Liberty Heads, Indians and SG I had, since I never imagined I'd actually be in a position to own gold coins.
If gold price has been down, I probably wouldn't own this rare coin today. It's a crap shoot; I got lucky So, IMO there isn't a get rich quick scheme in coin collecting.
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
I guess what I’m getting at is it’s kinda rare to find someone who deals in coins, but has no desire at all to keep or collect any of them. There are a few dealers who literally sell everything at every show they attend. You will never see an item sit for more than 3 days in their inventory, and they’ve figured out how to make a successful business. I’m hoping the poster above follows suit, because if you don’t invest/collect and you’re holding salable inventory for a month or more, I don’t understand your business model. (Don’t count lag times in grading the coins, only time when they are for sale in your inventory).
I'll let you know when I start parting with my core holdings. I've turned down a couple crazy offers on personal stuff already, IE I turned down $4,500 for a $965 cost basis coin and all I did was CAC it and hold onto it for 7 years. I'll report back in 20 years, somebody remind me.
Flips are a whole 'nother world chock full of 4 figure and occasional 5 figure profits though.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
I wish. But i don't consider a bid/ask flip to be an "investment" in the context of the OP's question. I've never bought a coin hoping that it will go up in value while I'm holding it.
Some of my best purchases were the coins I didn’t buy.
I think it was back in 2009, I had a bank that had a lot of sealed boxes of the new cents. They were going for about $200 a box for a while on ebay. That went on for quite a while and I could sell as many as I could find around town. I still have a 2019 enhanced reverse proof eagle in a sealed mint box that I should do something about before I kick off...maybe this year that bring good money. I was never really a flipper but at some point I'll likely do something with it since I can't really open. Does anyone know if the #1 signed insert ever was found?
Jim
I'm in the process of trading almost everything for a once in a lifetime opportunity, and the prices are really surprising me. I'm getting killed on my early Washingtons (by and large) and proof Ikes. I think the biggest hit has been a gold Kennedy. Huge gain on the 69, so I have high hopes for the 70.
You never bought a coin hoping it would go up in value?
That’s a lie
I buy coins I like, and not as an investment. Sure, it would be nice if I ever sell, to sell at a profit. Or at least break even. The coins were purchased with disposable income, i.e. fun money. I have sold a few gold coins, and they recouped investment. Cheers, RickO
They call me Cheerio Joe.
Holding and not flipping.
Replacement is getting difficult.
He's got a strange business model
ANA Summer Seminar
I don't think so. There's a difference between hoping the value of a coin you own goes up and buying it for that reason.