CNBC: "Classic cars, rare coins top Knight Frank's luxury index"

Goldbully

Classic cars, rare coins top Knight Frank's luxury index

Nyshka Chandran | @nyshkac

17 Hours Ago







Rare coins meanwhile recorded a 13 percent rise last year, higher than 2014's 10 percent expansion.



The value of rare coins exchanging hands in the U.S. alone was worth between $4-5 billion last year, estimated Stanley Gibbons Investment (SGI), the firm behind the Stanley Gibbons 200 Index that Knight Frank referenced.







CNBC Link

ambro51

WOW! Congress should pass a rare coin transfer tax, like maybe 20%! Wouldn't that be a great idea!! I think I'll write my Senators and Congressman and suggest that! Thanks for the Link!!

COCollector

Ever owned a classic car? So many ownership costs... maintenance, repairs, registration, insurance. And they don't fit in a safe-deposit box.



MUCH easier & cheaper to own coins.



And coins don't leak oil.

ricko

I have a good friend who does the classic cars... quite a collection. But definitely higher maintenance costs than coins....Cheers, RickO

bolivarshagnasty

The article is about the ultra wealthy and their buying preferences. I have no doubt that the 1 million dollar and up autos and ultra rare coins have increased in value. For the other 99% of us, the 55 Chevy, 69 Camaro, and 68 Mustangs have not increased in value a great deal. In fact, I have noticed a trend in the pre 1948 hot rods that indicate there are not many buyers for those. Taking a quick glance at the year on year PCGS 3000 coin index, and we have lost money on coins.



I am not complaining. I enjoy the hobby. Just noting that the article referenced by GB cannot be taken as a snapshot of the entire collectibles market. The ultra wealthy seem to be looking for ways to diversify their holdings. This drives up the price of the higher end collectibles.

ambro51

HANDS DOWN owning and driving a beautiful Classic Car is 1000% more fun than looking at coins. (Period)

mustangmanbob

I have a 1968 Shelby GT500, Factory 428 Police Interceptor engine, 4 speed, 9" locker rear end, Arrest Me Red in color with white stripes.

On my "cheater" slicks, bleached, I can smoke the tires for over 40 yards.

It is an instant magnet wherever it goes, stopped or in motion.

Try that with a CAC sticker.

bolivarshagnasty

Originally posted by: mustangmanbob

I have a 1968 Shelby GT500, Factory 428 Police Interceptor engine, 4 speed, 9" locker rear end, Arrest Me Red in color with white stripes.



On my "cheater" slicks, bleached, I can smoke the tires for over 40 yards.



It is an instant magnet wherever it goes, stopped or in motion.



Try that with a CAC sticker.

I hear ya Bob, but only 40 yds?

roadrunner

Originally posted by: COCollector

Ever owned a classic car? So many ownership costs... maintenance, repairs, registration, insurance. And they don't fit in a safe-deposit box.



MUCH easier & cheaper to own coins.



And coins don't leak oil.

Yes. I owned 10 classic muscle cars during the 1992-2002 period when coins were pretty much dead as a door nail. I had to do something for fun. The classic muscle car market exploded in price from 1996-2007, actually outperforming much of the coin market. None of my cars leaked oil. And at the time, doing work on them and taking them to cruises and shows was a lot more fun than a coin show.



One of the cars I had was a restored 1970 Challenger R/T 440-6v. I paid $19,000 for in 1996 and flipped it for no gain 3 months later after having a blast with it. It just wasn't the right car for me even they I knew it would probably perform very well in price in the years to come. And how! By 2007 the next owner of that car turned down over $90K for it. Not a bad gain for doing nothing but changing the oil and dusting it off from time to time. I kick myself quite often for not having kept it. Even today that car is still worth $65K. That was the right time to own those cars....a perfect storm.



If you buy the right cars in right condition, there are relatively little costs involved other than the purchase price. Let the guy before you do all the hard work. I only owned 1-2 cars at any time so it was easy to store them. I didn't have to make a special 15 mile trip to my banks during business hours to see my coins. Yet my muscle cars were out in the garage only seconds away. Insurance is dirt cheap on collector insurance. Typically about $100/yr on $10,000 in agreed upon value. 3,000 mile/yr driving limits aren't much of an issue. You also get a break on registration costs with a state DMV collector license plate/registration.

ambro51

My biggest regret was NOT buying an original survivor 1954 Kaiser Darrin for 4000$ back in 1973. I was only 19 then but had the cash to do it. Today.... That's a six figure car ( BTW the green Dodge is a new car and not a classic car, despite trying to copy basic body style...sorry)

bolivarshagnasty

Originally posted by: ambro51

My biggest regret was NOT buying an original survivor 1954 Kaiser Darrin for 4000$ back in 1973. I was only 19 then but had the cash to do it. Today.... That's a six figure car ( BTW the green Dodge is a new car and not a classic car, despite trying to copy basic body style...sorry)

Yeah, I know the difference. Just digging at mustangbob and his 40 yd. burnout.

Zoins

Originally posted by: ambro51
HANDS DOWN owning and driving a beautiful Classic Car is 1000% more fun than looking at coins. (Period)

Goldbully

Originally posted by: Zoins

Originally posted by: ambro51

HANDS DOWN owning and driving a beautiful Classic Car is 1000% more fun than looking at coins. (Period)

Can you buy classic cars with rare coins?



Now that would be interesting!!

cucamongacoin

I've owned this one since 1969

ambro51

Yes, you can buy classic cars with rare coins. This 1966 Studebaker Daytona Sports Sedan (1 of approx, 40 known surviving examples) cost 19 (gold) dollars. [URL=http://s249.photobucket.com/user/ambro51/media/Mobile Uploads/image_zpskkkrcb1b.jpg.html][/URL]

Goldbully

Originally posted by: cucamongacoin

I've owned this one since 1969

Looks like CU will have to add a classic cars forum. Your '69 Camaro is gorgeous.

coinkat

Amazing Studebaker Ambro51- I have only seen this car through the images you have posted. I always thought that the Avanti was a timeless design

ambro51

Yes the Avanti is a beautiful design, but rushed into production with a few flaws that have troubled owners for 55 years. I had one and speak from experience. The seats.... When 6'4" Studebaker President Sherwood Egbert first tried to get into the styling buck he hit his head on the door frame, and commanded the seats be changed. One of the engineers was restoring an Alfa Guiletta at the time, and rushed home to fetch the skinny flat bucket seats from his garage. Egbert approved, and since that time countless Avanti owners have complained about the total lack of lumbar support. Made from fiberglass, the backs were fragile, and I personally broke one during a drag race type start in an R2 Supercharged '64. They also had thus underbody support quaintly known as a hog trough. Inadequatly rustproofed these soon rusted through in inaccessible areas, weakening the door supports. The first batch of cars had lousy assembly and the rear window blew out over 120 mph. You needed to be a contortionist to do ANY work under the dash. Your feet Roasted during the summer from heat coming up from the exhaust pipe, which ran right under the footwell. Grounding the electrics was a nightmare...galvanic action caused rapid frame rust, the electric window motors were (ford) Junk. But, it WAS Beautiful, a car with No straight lines anywhere. ••••••. The 1966 Dayton's though was well thought out, powered by a GM 283 engine and used heavy duty components. The Canadian factory used superior rustproofing and upholstery materials. It is a Delight to drive...and constantly draws comments and attention. And it is exceptionally rare. At the Stidebaker Drovers Club international meet a few years ago, there were 700 studebaker a there, and 2 Daytonas! Contrast this rarity to the beloved camaro, mustang, challenger et. al, Muscle cars, which at Any little car show are abundant. I guess a lot of people like these, but to me the esoteric and rare, be it coins or cars.... is the true enjoyment.

COCollector

Originally posted by: roadrunner...If you buy the right cars in right condition, there are relatively little costs involved other than the purchase price. Let the guy before you do all the hard work. I only owned 1-2 cars at any time so it was easy to store them. I didn't have to make a special 15 mile trip to my banks during business hours to see my coins. Yet my muscle cars were out in the garage only seconds away. Insurance is dirt cheap on collector insurance. Typically about $100/yr on $10,000 in agreed upon value. 3,000 mile/yr driving limits aren't much of an issue. You also get a break on registration costs with a state DMV collector license plate/registration.

Excellent points.



But I think most folks lack the temperament to enjoy classic car ownership. As it turned out, I'm one of them.



Long-story-short: I was the guy that did all the hard work on my '66 Mustang. And after 2 years, it was a relief when medical issues forced me to sell it.

mustangmanbob

The goal is NOT to do a burn out. Spinning tires = little forward motion.

Smoking the tires AND moving is a trick because once you get enough traction, the spinning (and smoke) stops.

When you're in the bleach box, you lock the front wheels, light up the rears to make the hot and sticky.

The goal is NOT smoke them on launch.

To run 40 yards (about 7 car lengths) I have to be spinning the tires AND getting traction at the same time.

It is easy to smoke 'em standing still, or launch without smoke. It is smoking them down the 1/4 that is a bit of an art, spinning without a total lock.

I raced 2 years NHRA, but not with this Shelby, as it is an 8.94 (plus it is well up in the 6 figures in price.)

The best way I have found to do it is to run 2 different rear tires, different break points, so I can spin one and get traction with the other, but my locker rear end fights me on it.

Broadstruck

COCollector, Nice... I used to watch "Spencer For Hire" as a kid just for his green 66 fastback.



If it makes you feel better I sold my 1968 Shelby GT-350 which was fully restored in 1988 just because I didn't want a car payment.



At least you did well 2 years ago as I get choked up every time I see what these fetch at auction today.



Still not as bad as when I sold my Showcase 4 first appearance of the Flash around 1992-93 when the comic book market was dead



I could buy another Shelby if I still owned the comic book