What is the best return on investment in coin collecting?

lathmach

The theme of this question is brought up here quite regularily. In most instances, someone wants to know which coin has the most potential to increase in value.
Everyone has their own opinion on what is a wise investment, and I'd like to tell you mine.
Return on Investment: What you receive back for what you have paid out.
The best investment in coin collecting is that money spent in gaining knowledge.
The easiest way to become knowledgeable is to join specialty coin clubs and buy the best books on coins available.
Most of the specialty clubs charge only for the actual cost of operating; the cost to do printing and mailings. They rely on the membership to provide articles of interest for the journals or letters.
I just received the lastest John Reich Journal. Although I don't collect bust coinage, I am a member of this club.
In this issue is a letter written by Michael Atkins concerning an 1827 Bust dime.
He states he sells coins on Ebay called "Buckets of Coins", and in one of the deals, he sold an 1827 Dime in VF but with a bad gash on it a couple years ago. He recalls paying about $20 for the coin.
He says his buyer contacted him recently and told him he had listed the dime on Ebay last fall. While the auction was going on he was contacted by 2 different members of the John Reich Collectors Society telling him the coin was very rare, an example of JR10. They advised him not to stop the auction early no matter what he was offered.
The final bid on the coin was $4500. If not for the gash it could have went to $10,000.
The collector that wrote this letter is now a dedicated member of the JRCS.
Buy the books, join the clubs. You can't get a better return for your money.

Ray

FC57Coins

Good post Ray. Wise words!

Frank

wingedliberty

I belong to the ANA as well as four other regional and local clubs.
My numismatic library has over 100 titles. I agree with your post 100%.
This forum also helps alot.


Brian.

coinguy1

I recommend spending as much time as possible examining coins (particularly, but not exclusively those you have interest in) certified by the major grading services. And, equally or more importantly, making the acquaintance of knowledgeable dealers and/or collectors who are both willing AND able to educate you. Granted, this is easier said than done, but the potential benefits are irreplaceable.

pontiacinf

ive learned tons here, always have an open ear...

but old lit is best way along with the other tools we use

thanks for great post

airplanenut

...but when it comes to buying/selling, the best return is buying what you like- not what you hope someone else will like in 10 years. If you like it and you like the price, buy it- the best coins are the ones you never tire looking at.

Jeremy

Lakesammman

Have said it before - the best ROI for me has been knowledge gained and friends made along the way.

kranky

When I saw this thread title I was all ready to jump in with a post that praises books and clubs. Too late!

Good post, Ray!

jhar

Well said. Well said.

I see many posts from people who have found/inherited coins and want to know how to sell their coins for the best price without being "taken". Your advice is the best way for someone to know what they are seeing with being "taken". Unfortunately most people don't want to take the time do follow that advice.

oreville

Best return on investment in coin collecting?

(1) Pride and joy in being part of the best hobby in America.

(2) Sense of gratification in watching a newer collector catch onto the same pride and joy when he has found or purchased a new coin. I have found that mere gifting does not work the same way. Make the kid pay face value for the coin. It is important to them as they seem to appreciate it more.

roadrunner

roadrunner

I agree with Coinguy. Look at as many coins as you can in your favorite areas. Attend auction viewing if you can and see what the
lots sell for. You'll get an appreciation for high end, low end, average coins. Book knowledge is good but you also have to apply that in purchasing.

roadrunner

its4real

Roadrunner - "book knowledge is always good" - treu and the rest of your post is true - without actually "getting your hand on" the coins and having time to study them -it's not the same.

I buy all the coins I can, learn all I can about them - then try and sell the ones I don't like and retain the rest for my collection. So far - I have NO return on my investment - except what I have kept(knowledge, experience, and quite a few coins)

JimD

<< <i>What is the best return on investment in coin collecting? >>



I agree with all of the above, but to be a little more specific, I am going to list several coin related investments that have given me a return that can't be measured in Dollars.

Yeoman's "Red Book": Approximate cost $10: While very elimentary, it is an essentual for the novice collector and is still my most used quick reference.

PCGS's "Coin Grading and Counterfeit Detection": Approximate cost ?(recieved with PCGS Membership):An excellent reference for the beguining collector and helped me down the Numismatic road.

Overton's "Early Half Dollar Die Varieties": Approximate cost $50:An essentual for those specalizing in Early Half Dollars. One of the greatest joys I have in collecting Bust Halves is attributing the coins I have purchased. This is also a good way to become intimate with your coin.

JRCS Membership: Cost $25 per year:The articles in the "JRCS Journal" written by some of the most knowledgable and experienced numisists give a return on investment that would make a Wall Street hotshot cry with envy.

Digital Camera: Approximate cost $350: Allows me to post digital images of my coins for advice and feedback from knowledgable collectors. OK, it also enables me to show off at times.

The #1 investment:This message board: Zero cost:Return in knowledge and comradery is immeasurable.

KoinKollector

I remember when mike told me that story. Man, it gets more exciting the more I hear it