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What do you think?
boz
Posts: 1,405 ✭
Here is my plan. Last night I got the opportunity to purchase "the" key date in my registry set, (Carson City Morgan Dollar set) in the best grade (MS62) I can afford. I am going to sell off some of my best, but loner coins, and then some of the actual coins in the present set. All will be MS66 Morgans, but these will be easily replaced in the future. I've got a nice 1937 Walking Liberty PR67, and a 1917 MS66Fh SLQ also scheduled to go. A couple others have already been sold.
My question is, Do you think this is the way to go, tear down a set, only to rebuild it better than it was? Or, what would you do? All opinions welcome.
My question is, Do you think this is the way to go, tear down a set, only to rebuild it better than it was? Or, what would you do? All opinions welcome.
The great use of life is to spend it on something that will outlast it--James Truslow Adams
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how do you feel the market is going to move in the next xxxx years - what are your long range objectives?
i think it is a good strategy, if market goes to h@ll, maybe you will be able to upgrade the key
if the entire series goes up, MS66's will go up, but how many ?millions? are graded MS66 or higher?
borrowing is probably not a good idea, as it is like buying the coin on margin - which may pay very well, or if circumstances turn bad, may be a big mistake.
another question is how easy will it be to sell your "savings" near market value to get your new coin? if you take a 20% hit on each coin sold and takes 6 months, may not be a great strategy.
I've actually gone ahead and bought the coin, added it to my set and my interest is greatly renewed. I had to sell some of my coins, including the 1893 cc MS63. I wasn't happy with the 63 as I've always wanted the coin in MS64 anyway. This coin and the other few I am selling won't really be missed, and can easily be replaced.
The market may go up, or it may go down, but I think I've finally figured out I'm a collector not an investor.