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There seems to be threads about prices and concern with downturns
Realone
Posts: 18,519 ✭✭✭✭✭
and every time I read the threads I say two things to myself:
time to take advantage and basically do a little dollar cost averaging and less is more.
The first is common sense, buy low when you can to make up for your previously buying highs which invariably happens in a price downturn or softening.
The second is alos common sense but often ignored, I see it when I go to the bst and see so many members trying to dump their dupes, extras, losers, extras or anything to exchange it into cash for new purchasing power or just plain old ammo or living expenses. why have so much inventory, less is surely better than more at any time and it is always proportional to your current income but I typically see many here having too much inventory/baggage that they always seem to be dumping when the prices are falling. I rather own one classic coin in au or ms than 10-20 similar but lower grade examples or other types.
And if I ever need cash all I have to do is sell one item to one dealer who is enthusiastic to make the purchase because he appreciates quality and/or always has customers for the good stuff in au or ms.
time to take advantage and basically do a little dollar cost averaging and less is more.
The first is common sense, buy low when you can to make up for your previously buying highs which invariably happens in a price downturn or softening.
The second is alos common sense but often ignored, I see it when I go to the bst and see so many members trying to dump their dupes, extras, losers, extras or anything to exchange it into cash for new purchasing power or just plain old ammo or living expenses. why have so much inventory, less is surely better than more at any time and it is always proportional to your current income but I typically see many here having too much inventory/baggage that they always seem to be dumping when the prices are falling. I rather own one classic coin in au or ms than 10-20 similar but lower grade examples or other types.
And if I ever need cash all I have to do is sell one item to one dealer who is enthusiastic to make the purchase because he appreciates quality and/or always has customers for the good stuff in au or ms.
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Liberty: Parent of Science & Industry
What is more troubling to me is the downturn in activity on the forum (and this downturn predates the recent storms and political season and other things that may suppress forum activity). That scares me more than threads talking about downturns.
As for your advice, some of it is good... Buying low and selling high is a great strategy is you have a crystal ball or time machine but, prospectively, sometimes buying low is not low enough and selling high is not achievable.
However, telling people to buy fewer and higher grade coins rather than more coins that are lower in grade is problematic on multiple levels. If it works for you, great, but that strategy is not for everyone.
There are plenty of different collecting styles and philosophies, and they are all fine so long as the collector is satisfied with it, enjoys it, and is not placing himself or herself in financial peril.
Sometimes tying up your funds in one or two superlative baskets-of-a-coin can be great -- if you have a market that still thinks that particular piece is awesome when it's time to sell. OTOH, what if I have just a bunch of circ Walkers and Franklins and Barber halves lying around, many dozens of them? Yes, they might only be worth a piddling $11.50 or so, according to coinflation currently. But since I paid $2.50 to $3.50 a piece for them, I'm relatively satisfied. I can't say as much for some other collector coins bought for significantly higher prices originally -- but I still like them too.
a lot more over those next few years, in gem type probably another 50% down. It took about 15 yrs to get out from under some of the low cost "winners" that I bought
in 1992-1993 that were at 50% of their former highs. Little did I realize they'd end up at 30%, 25%, and even 20%. The time to buy was finally in 1996-1998. But even
that lull was followed be a secondary downturn in 2000-2002 to coincide with stocks. We're 4 years into this downturn. That would be about comparable to 1994.
This down cycle might even end up being longer since the blow off top in 2007-2008 seemed much stronger than 1990 and involved stocks, real estate, art, and collectibles
of all kinds.
I remember counting all the gem proof Lib nickels, 3 cent nickels, and even Matte Proof Lincolns I was able to acquire at nice discounts to their former highs...only to see them
get pummeled lower and lower. About the only way to have survived that downturn was either not to buy, or to buy only the PQest of coins that would eventually get upgraded,
or to buy those areas that were generally out of favor during the 1987-1990 run up (ie key dates in all pre-1933 coinage, choice circ type and better date type coins, REG set pop
tops, out of favor series, monster gem moderns, to name a few).
<< <i>Since I have been here (ten years), there have always been threads about downturns. Bear would often joke something to the effect that he had "predicted ten of the last two downturns". We may be in a coin downturn now, or not. >>
Other than high grades most US coins have been in a downturn since '08. I believe the
primary reason high grades are bucking the trend is that gold and silver profits are being
plowed into the only coins that are doing well.
<< <i>
What is more troubling to me is the downturn in activity on the forum (and this downturn predates the recent storms and political season and other things that may suppress forum activity). That scares me more than threads talking about downturns. >>
I shouldn't comment, but it appears that this downturn has far more to do with shrinking
numbers of users than with dimished passion among the remaining users. This isn't to say
that any actions on the part of our hosts was in error but there seems to be a belief that
these boards are of little value to them. Perhaps after the election more people will feel
safe to express their coin beliefs and leave politics aside. We've also lost a few users to
death and the economy. Eventually new, younger people will join us and the economy will
improve. Life goes on and the tide waits for no man.
<< <i>What is more troubling to me is the downturn in activity on the forum (and this downturn predates the recent storms and political season and other things that may suppress forum activity). That scares me more than threads talking about downturns.
>>
I have noticed that also. Have we run our course, like a tired old restaurant barely hanging on by reputation alone? Or has the novelty of the whole Internet-chat-about-your-hobby thing finally worn off?
<< <i>
<< <i>What is more troubling to me is the downturn in activity on the forum (and this downturn predates the recent storms and political season and other things that may suppress forum activity). That scares me more than threads talking about downturns.
>>
I have noticed that also. Have we run our course, like a tired old restaurant barely hanging on by reputation alone? Or has the novelty of the whole Internet-chat-about-your-hobby thing finally worn off? >>
Some of the spice has left, willingly or not, and some walk on eggshells.
In some ways, it is good, in other ways, it isn't as it means less folks and less sharing.
As for the "buy less but spend more on them".....I believe in the "buy what you want and use disposable income to do it". Sure, no one likes to realize that what they bought is worth less now, but hopefully people are buying things they like with money that is just as good being p*ssed away. I have a box of 21 coins that are in my "I'll sell when I get around to it" list. Some may sell at a loss, but some are dupes that, while I do want to sell them, they are nice enough that I haven't yet as I won't sell for less than a certain price....and that coin/series may have gone down in the last year or two or three.....
I do always love the threads when people post how others shouldn't be doing something a certain way but should be doing it THEIR way.......always have enjoyed people giving me unsolicited advice at how I should live my life....kind of like living in a HOA
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I generally agree with your sentiment that fewer, but better, is the way to go in collecting coins. However, I concede that some (many?) collectors would find this too taxing. Buying just a few coins a year would not be enough to keep their interest in the hobby at a high level. This sort of thing can lead to disinterest, and eventual exiting from the hobby. I am buying numismatic literature and working on various side projects (7070 album, counterfeit U.S. gold coin detectors, etc.) for precisely this reason. Remaining motivated is sometimes difficult otherwise.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Things are cyclical and I assume that activity on this forum will rebound at some time in the future.
Maybe after next Tuesday's election people will turn their attention away from politics and turn their attention back to other things, including the hobby.
<< <i>Some of the spice has left, willingly or not, and some walk on eggshells. >>
This.
<< <i>What is more troubling to me is the downturn in activity on the forum (and this downturn predates the recent storms and political season and other things that may suppress forum activity). That scares me more than threads talking about downturns. >>
Wow! I thought I was the only one that thought this. The forum used to be much more active in years past, but now it's similar to ATS. I don't know if it's a reflection of the hobby, the loss of the Open Forum, the frequent banishments, or a combination of these.
<< <i>Buying just a few coins a year would not be enough to keep their interest in the hobby at a high level. This sort of thing can lead to disinterest, and eventual exiting from the hobby. I am buying numismatic literature and working on various side projects (7070 album, counterfeit U.S. gold coin detectors, etc.) for precisely this reason. Remaining motivated is sometimes difficult otherwise. >>
Agreed. Over the last 5 years, I've averaged about 2-3 coins purchases per year. I've had to find other coin related projects (such as coin boards) to maintain my enthusiasm. I've also relied on this forum as a source of inspiration.
<< <i>The US Coin Forum has changed over the past few years. Many people who were very active posters and who had very interesting things to say have either passed away, been banned or simply lost interest. Thread topics that I have been interested in have decreased in frequency. I read selected posts many times without posting a reply. Other threads I do not even open.
Things are cyclical and I assume that activity on this forum will rebound at some time in the future.
Maybe after next Tuesday's election people will turn their attention away from politics and turn their attention back to other things, including the hobby. >>
I think one of the biggest problem might be we the people. We don't value the few
thread starters to the degree they deserve. It takes a special talent to dream up topical
threads to which people want to respond but rather than praise they often catch flack.
<< <i>
<< <i>The US Coin Forum has changed over the past few years. Many people who were very active posters and who had very interesting things to say have either passed away, been banned or simply lost interest. Thread topics that I have been interested in have decreased in frequency. I read selected posts many times without posting a reply. Other threads I do not even open.
Things are cyclical and I assume that activity on this forum will rebound at some time in the future.
Maybe after next Tuesday's election people will turn their attention away from politics and turn their attention back to other things, including the hobby. >>
I think one of the biggest problem might be we the people. We don't value the few
thread starters to the degree they deserve. It takes a special talent to dream up topical
threads to which people want to respond but rather than praise they often catch flack. >>
I am glad you posted the above. A week or more ago, after posting a controversial thread that prompted a lot of discussion and quite a few barbs directed at me, I almost replied, after getting shelled consecutively by newbies and experienced posters who never start a thread but always pile on that they should, for a change, start a thread. People who can get the conversation going seem to be in short supply, while those who criticize them are in great abundance.
<< <i>I think one of the biggest problem might be we the people. We don't value the few thread starters to the degree they deserve. It takes a special talent to dream up topical threads to which people want to respond but rather than praise they often catch flack. >>
I don't want to continue de-railing Realone's thread, but this statement is very true. I can think of a number of members who frequently started interesting threads and for one reason or another have left.
As for Realone... thank you for being one of those individuals who has started many conversations here. I appreciate it.
You too RYK!
It takes a lot of effort (by individuals and by the group) to keep things lively, interesting and worthwhile around here.
Likewise others post pictures of not so great and not so rare coins and equally they get little or no response when the community of members should be saying encouraging things like, 'thats great, good score for you'.......
In other words I believe we could be doing a better job as a community of collectors to encourage one another regardless of the size of their pockerbook or what they collect.
That would generate more posts.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Roadrunner is right about 19th and early 20th Century Gem Type. If you're not looking at pre 1836 material, you've bought it in the last ten to fifteen years, and it's in the holder in which you bought it, you're probably underwater on the coin. If you've bought a nice Liberty Nickel in PC 6 in the last 10 -15 years, you're underwater on the coin unless it's an ultra-rarity in that grade, like the 1885 or 1896.
I've bought all of ONE coin in each year, 2009 forward. I think it's because I've picked the "low hanging fruit" in what I collect. It doesn't matter whether prices are going up or down; if the material you are looking for isn't available, all of the price sheets are good for is the fireplace when it's cold outside.
"Seu cabra da peste,
"Sou Mangueira......."
2. The activity on this forum, and my interest in it, has gone down considerably recently. It's a bit sad.
3. Threads like this illustrate one of the key reasons I sold my collection: Worrying about the money takes the fun out of the coins.
4. Collections of all shapes and sizes - with a few higher priced coins or many lower priced ones - can be fun and rewarding.
All my humble opinion, of course.
<< <i>Ok, will just throw this out here. This forum is very intimidating for many of us new to collecting, not encouraging. Everybody is an expert. I went to the ANA Money Show in Dallas, first show. I tried to look at the coins but most of the dealers would not look my way, they would not even say hello. So you have to be experienced to break into this game or else forget it. Ok, keep your pennies and old silver dollars. Moderns are easier to understand. >>
Completely understand where you are coming from.
Part of the reason I tend to look down on those that TELL others HOW to collect.
Many new collectors have questions and want to learn/explore as they go. If they wanted to be told how to do something and only do it that way, they may as well just stop collecting.
"M", I was there before as well. I started very small and did learning and listening a lot along the way. I started, when I got back into things in 2002, with statehood quarters. Want to talk about people not looking twice at you?
I then moved to SAEs and modern mint/proof sets. Again, think I was paid much attention to?
I moved into Morgans after that. After learning what I could for a little while.
Then, into other series and spending a lot of time learning on the boards.
Not everyone is patient about learning. Many want something and want it NOW! They want others to TELL them what they WANT to hear, and hear how good they are. They want answers to anything and everything. My (unsolicited) advice is for folks to relax, take time, read a lot, read between the lines for some folks, and to go back to many old threads to learn. Start small (whatever small means to each individual is likely different) and look at a lot of coins. Don't view it as an investment but rather as a hobby. Keep an open mind to all series and grades and get a 7070 if you are undecided on things that may be fun for you (type sets can help you learn about the different series...kind of like a "jack of all trades".
If it gets to where you don't enjoy it, step out/back for awhile. Nothing wrong with that. Put things on the shelf until you feel like you know what you want.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Well said, Bilbo Baggins!
Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum
<< <i>This forum is very intimidating for many of us new to collecting, not encouraging. Everybody is an expert. I went to the ANA Money Show in Dallas, first show. I tried to look at the coins but most of the dealers would not look my way, they would not even say hello. >>
M - Don't be fooled, not everybody here is an expert despite what they may think. But there are some incredibly knowledgeable members. Still, your statement speaks of an underlying problem. I know we used to have many more newbies joining here in the not so recent past so there must be something wrong.
As for your first show, I suspect the vast majority of visitors are experienced collectors and the dealers assume you don't need any help unless you specifically wish to see something. But again, I see your point. There have been more than a few dealers with less than stellar social skills. DON'T GIVE UP!
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
This forum and most of the elites of the hobby have been particularly dismissive of modern collectors, who were the fresh blood entering the hobby pursuant to the mint's marketing efforts beginning in 1999. This was once a very active forum, with a large number of posts dedicated to 20th century coins, registry competition, etc. The growth was sufficient to threaten many established dealers, who fought back by openly criticizing the set registry and posting negative comments to every modern thread with a post count greater than 2. Like all prejudices, if you collected 19th century rusty washers you were smarter than if you collected gem Franklin halves. The forum is vacated and the old guard is safe. PCGS did plenty to generate excitement around the hobby and make collecting fun. That has mostly abated.
and it sets us apart from practitioners and consultants. Gregor
Some are insightful, some controversial, some inane.
Based on the number of participants, it has interest and value for a significant audience.
Like all communication vehicles you learn from differing ideas. I suspect most forum members can sift and sort what they do or want to believe.
Some are insightful, some controversial, some inane.
Based on the number of participants, it has interest and value for a significant audience.
Like all communication vehicles you learn from differing ideas. I suspect most forum members can sift and sort what they do or want to believe.
I'm sorry. I fail to see how that is related to the downturn either in coin prices or the thread count here. Are you saying they're both fine?
and it sets us apart from practitioners and consultants. Gregor
I said:
Forums are venues for opinion and discusions.
Some are insightful, some controversial, some inane.
Based on the number of participants, it has interest and value for a significant audience.
Like all communication vehicles you learn from differing ideas. I suspect most forum members can sift and sort what they do or want to believe.
DHeath:
I'm sorry. I fail to see how that is related to the downturn either in coin prices or the thread count here. Are you saying they're both fine?
Trime:
The discussion had turned from the topic toward whether a posters opinion was valid. I was trying to say that opinions are approprite even if at odds with your own. Sorry to make my intent obscure.
More to the point of the thread: Collectables have long term and short term cycles . We are in a correction in certain but not all areas a 16 year bull market since the depths of the last bottom . Corrections sometimes are transient and other times lead to new major downturns. I am not smart enough to reliably predict when. Realone argued for cost averaging which works sometimes and not others. Investing in collectables is challenging because while rarity and quality have objective parameters, in the end, collectables have value only in the eyes of the collective beholder community. Realone was saying (i believe) that investing in fewer rare coins may be smarter than many common coins. He alluded to the idea that rarity and class has more intrinsic protection from downside risk. I agree in principle.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
<< <i>
<< <i>Interesting, Realone. This definitely speaks to those who are investors, or those with a strong "investor" approach to the hobby. As a collector, my philosophy has always been buy what you like at the appropriate price. Sometimes that price is high, sometimes it is low. As a collector I have never felt the need to "dump" my inventory since I don't carry an inventory. There is nothing wrong with being an investor or an "investing" collector, but it may indeed influence how one approaches the hobby. >>
A,
if you haven't please read my last post on this page for further clarification of what I was attempting to say!
I was trying to help those who were writing threads about being depressed about price downturns, I am not price influenced, I buy when THE coins comes up so not to miss the last possible chance to acquire it. I am not a seller , I am a collector. >>
Gotcha
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
I lurked a lot before joining, began posting sort of regularly, then have reverted to lurking for the large part. I don’t want to comment on every thread - I can get pretty verbose. This post will be a case in point.
I wanted to ‘give’ back to the forum, so I resurrected a WLH thread and tried to keep the discussion going for a period of several weeks. Didn’t work - but did get some great posts. I still keep up with WLHs of course, but more through PM then posts. I hadn’t noticed the reduced activity, but I’m not here every day and I’m not a long term member.
I have started threads, the most recent for a penny I found at the market. The thread got a nice response. On another occasion, Mark Feld began a thread on a silver dollar I purchased that went for several pages.
This forum still offers excellent threads and insights for collectors. I cite the thread on a superb Charlotte gold collection and two subordinate threads related to it; the score by Eagle Eye on a rare penny purchased on ebay; and of course the Legend Market report threads.
As To The Investing Aspect:
I never/didn’t consider the investment angle on coins. It was always ‘leave it up to my heirs’. Recently I purchased two half dollars that (I knew at the time of purchase) were going to require pruning of the collection. So far, I have recouped almost all of my purchase cost. Note that I have held the coins less than 5 years. I’m glad I don’t ‘invest’ in coins, I’m sorry to see the coins leave my collection, their financial performance has not been stellar over the short term (though this is not to be expected for coin collecting at the ‘retail’/collector level, as I understand it), but it is my decision and I’ll live with it. Having to sell coins has left a bad taste in my mouth - but if another opportunity arises that requires a decision, I take my lumps on future ‘forced sales’ if I have to.
Clever line about not going for ‘price tag over coin snag’.
As To Keeping My Interest In The Hobby:
As my primary focus collection has matured, I have found great fun in working on my childhood collection. I have managed to almost complete my Indian Head penny Whitman book (thanks to Eagle Eye and Penny Lady), and I’ve purchased a few SLQs at my local B&M for that Whitman. There is something intrinsically appealing about nice circulated coins.
Thanks for the thread - it was a nice read.
I think the downturn in activity is being driven by the recession, in more ways than one. Many people have less disposable income and have cut back on their coin purchases. Fewer purchases means less to talk about (or post about). Thanks to the difficult employment situation, many people are also being forced to divert their time away from enjoying the hobby and toward more immediately necessary activities such as job hunting, budgeting, selling off existing collectibles (rather than buying new ones), and downsizing.
Much of the downturn in prices can be explained by recession-induced risk aversion. Bullion-related moderns may not be as interesting to advanced collectors as classic rarities, but in the current economic environment they are perceived by many collectors as offering more limited downside risk, greater liquidity, and the possibility of bullion-related appreciation.
My Adolph A. Weinman signature
<< <i>As To The Forum Ebbing:
I lurked a lot before joining, began posting sort of regularly, then have reverted to lurking for the large part. I don’t want to comment on every thread - I can get pretty verbose. This post will be a case in point.
I wanted to ‘give’ back to the forum, so I resurrected a WLH thread and tried to keep the discussion going for a period of several weeks. Didn’t work - but did get some great posts. I still keep up with WLHs of course, but more through PM then posts. I hadn’t noticed the reduced activity, but I’m not here every day and I’m not a long term member.
I have started threads, the most recent for a penny I found at the market. The thread got a nice response. On another occasion, Mark Feld began a thread on a silver dollar I purchased that went for several pages.
This forum still offers excellent threads and insights for collectors. I cite the thread on a superb Charlotte gold collection and two subordinate threads related to it; the score by Eagle Eye on a rare penny purchased on ebay; and of course the Legend Market report threads.
As To The Investing Aspect:
I never/didn’t consider the investment angle on coins. It was always ‘leave it up to my heirs’. Recently I purchased two half dollars that (I knew at the time of purchase) were going to require pruning of the collection. So far, I have recouped almost all of my purchase cost. Note that I have held the coins less than 5 years. I’m glad I don’t ‘invest’ in coins, I’m sorry to see the coins leave my collection, their financial performance has not been stellar over the short term (though this is not to be expected for coin collecting at the ‘retail’/collector level, as I understand it), but it is my decision and I’ll live with it. Having to sell coins has left a bad taste in my mouth - but if another opportunity arises that requires a decision, I take my lumps on future ‘forced sales’ if I have to.
Clever line about not going for ‘price tag over coin snag’.
As To Keeping My Interest In The Hobby:
As my primary focus collection has matured, I have found great fun in working on my childhood collection. I have managed to almost complete my Indian Head penny Whitman book (thanks to Eagle Eye and Penny Lady), and I’ve purchased a few SLQs at my local B&M for that Whitman. There is something intrinsically appealing about nice circulated coins.
Thanks for the thread - it was a nice read. >>
Thanks for the post, JBN! I particularly agree with you when you say: "There is something intrinsically appealing about nice circulated coins."
<< <i>Ok, will just throw this out here. This forum is very intimidating for many of us new to collecting, not encouraging. Everybody is an expert. I went to the ANA Money Show in Dallas, first show. I tried to look at the coins but most of the dealers would not look my way, they would not even say hello. So you have to be experienced to break into this game or else forget it. Ok, keep your pennies and old silver dollars. Moderns are easier to understand. >>
Sorry you've felt this way, M. I'll try to be more accomodating, myself. I certainly understand your point of view, as there's a particular Australian-based stamp board that I've lurked on for some time, just trying to know more about a childhood hobby that held my father's interest, many years ago.
Comparitively, we're quite a friendly bunch here!
<< <i>Wow is that how you took what I said, well I did not mean that price is important, I was commenting on a thread or threads that talk about how depressing it is when values drop and I was trying to have members see the other side of the coin, the brighter side, thus the rationalization to take advantage of the drop in prices ie dollar cost averaging and buy when prices drop. As for me i have repeatedly say that I am consistantly playing in the field, I consequently well be buying when prices are high and low but the most important point is that I have no choice, when the right coin comes along I must grab it because it may never come along again in my lifetime and whatever price I get it at is just the way it is. If you add all the ones i had to get that were bought high with all the ones I had to get when they were bought low it all averages out somehow so I don't worry about the prices. >>
No worries, Realone. I understand what your point for this thread was.
My comment applies in a general sense: Worrying about the money takes the fun out of the coins.
Collectors can often have a lot of money tied up in their coins. That's just the nature of the hobby - even if you don't collect expensive coins individually, as a group your collection may represent quite a lot of money.
We have money tied up in other things too - houses, cars, stocks, mutual funds, etc. The value of all of these fluctuates...usually creating a long-term cycle of an up market and a down market.
We would be better off psychologically if we could ride these cyclic waves without worrying about downturns or upturns. Just enjoy the ride. With coins, enjoy the history, the beauty, the pride in ownership. As with anything else you own, you actually only lose money if you choose to sell for less than you bought. It's a choice. If you don't sell in a down market, you don't lose money, regardless of what they Chicken Little's out there are squawking.
Understand that coin collecting can - and will eventually - mean tying up a significant amount of money in your collection. Build a savings for emergencies so that you don't have to worry about it and enjoy the ride.
Should you find yourself having to sell bullion on short notice, well, you may do OK, perhaps even a small gain or loss, depending on the markets and the buy/sell spread of your dealer/buyer. Sell to an individual on the BST boards here and you might do even better.
OTOH, if you loaded up on 3K retail worth of 70s-90s non-silver proof sets, then had a change of heart, you will take a bath on resale, plus be prepared to work extra hard to move them. This kind of material, simply don't buy in such quantities (unless you're trying to be a dealer yourself.) Simply get an example here and there, such that if your outlay is say, $20-50 max, and you find you can't sell easily, not the end of the world. Simply sit on them, give them as gifts, etc. Only buying coins (or any hobby/collectible pursuit) with money that you can afford to lose, is always wise advice.
If you look back at the state of the coin market during the last 40 years, you will find that today's market really isn't terrible. There were some times when the market was dead---almost nothing moved, and the mention of liquidity typically provoked a cynical laugh. Many dealers went out of business (admittedly, many B&M dealers are being kept alive by bullion trading today). Dealers who managed to hang on frequently had to resort to unusual strategies to get buyers to step up, like promising to buy back a coin within the next calendar year for 95-100% of the purchase price.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]