Headed to the Coin Shop
DPage1985
Posts: 29 ✭
So I'm headed this afternoon and I'm fairly new, so here's a question. What's a better coin to invest in Silver Proof Ike Dollars, AU and BU Mercury Dimes, ASE, or something completely different? Just thought I get some input.
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If you are investing, do it elsewhere... coins are either a hobby or a business... and not an investment. Oh sure, once in a while, or at a very high level, it can pay off.... However, not at the level you are considering. Cheers, RickO
No time like the present to get into the hobby. The habit is for another forum. ( like the precious metals' )
``https://ebay.us/m/KxolR5
Buy what your eyes like and what you can afford.
"A dog breaks your heart only one time and that is when they pass on". Unknown
Are you talking about like bars
That might be my problem I like them all
No. Stacking PM's has some value as a store of wealth, however, an investment is a what you do with financial resources in the hope of steady growth. Real estate, bonds... Cheers, RickO
BUT, can you afford them all?
"A dog breaks your heart only one time and that is when they pass on". Unknown
Many numismatists don't look at their collection as an investment. Coins don't pay out interest or dividends. Sure many long term collectors don't lose money when going to sell but they don't make much either, probably lose overall when inflation is considered. If you are going to collect, collect for fun, not for profit.
I guess invest was a wrong word to use. I enjoy collecting and hopefully one day get my kids into it as well.
Welcome aboard
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Just buy what talks to you and enjoy the hobby!
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I would say focus on value and eye appeal. Chances are if you like it, then others will too when it comes time to sell.
Collector, occasional seller
Pretty good advice you got there! I told you that this forum is knowledgeable! If you're really ecstatic on making money in this Hobby and ready to take a great risk. Why don't you look into becoming a Coin Dealer? If you have the extra cash and time to invest, then maybe, going that route (becoming a Dealer) is right for you? If done correctly and successfully, you can make a good buck! but If not, one can still make a little profit in coins, by going about it carefully. Me, you mentioned it earlier, I make my profits mostly on Bullion. Silver, is my choice of Metals. It's simple, I buy low and wait, then sell high. The more you spend the more you can make a profit. The only hiccup is the waiting part. One must be very patient in sitting back until the Silver price surges. And that's IF the price surges? So, since you just jumped into the pool, so to speak, you might want to cool your jets and first watch and learn, before making a rash decision? Good Luck. Like I told you in my presentation, HAVE FUN! That's the best investment one can enjoy.-joey
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.I like the silver proof Ike. I picked up this one for $18.
I would recommend you start a type set. Purchase the album and fill the holes gradually whenever you can afford to fill a hole. It is exciting (to me) to go to a show or shop and fill the album.
If you can buy those things close to spot, then it might be a good investment.
I personally started out buying circ common date morgan and peace dollars, which led to buying UNC ones, which led to walkers, buffs, SLQs....
Do not go to the coin shop. You are not ready to start collecting. If you want to invest, collectible coins are not even in the top categories of investments.
I ask every newbie that comes to my table if they love coins, or if they are trying to invest. Many cannot differentiate until I bring it up. The best (chance of) "investment" in coins are the top pop of ANY series. You do not find those in coin shops very often. This is not without risk as coins may grade higher and it is a LONG game. I am not giving advice, just presenting what I have learned in my time. It is also a very high ante game.
Now, to get to your question. The IKE series has it all from a collecting perspective and relatively inexpensive to acquire. It is a great "learning" set. But do not be surprised if it does not go up in value over time.
Going to a coin shop because you are bored and have some money to spend will likely lead to purchases of things that you won't want to keep. Find a 7070 album and start a type set, buy a copy of Q. David Bowers' book "The Expert's Guide: Collecting and Investing in Rare Coins"--read it and see if there is a specialty area that you find especially interesting (and can afford). If you view coins primarily for investment potential, you have a long road to go (4 or 5 years of study) because successful investing is much more difficult that buying for enjoyment or pride of ownership, and you will make numerous mistakes along the way. Tread carefully.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
After many years of experience, you could probably go into some coin shops and come out with things you could sell for more. But, it would take many mistakes and lots of losses before that occurs...unless you're sticking close to 90% silver bullion coins.
yes, get what makes you happy
happy hunting
If you are going to invest (which I don't recommend), READ UP and decide for yourself. That is how people make money in numismatics-knowing about what they are buying.
Fan of the Oxford Comma
CCAC Representative of the General Public
2021 Young Numismatist of the Year
Ask to see their selection of draped bust half dimes. Should be good for a laugh or two.
Liberty: Parent of Science & Industry
Have fun with it and enjoy whatever it is you decide to buy.
Any update on your trip to the coin shop? Did you find anything you like?
Nothing big I bought a couple blue folder Ike Dollars I think I got all but the 72 and I also got some Roosevelt dimes to almost finish off my Whitman album
Nice coins. Those staples are a bad idea - surprised the dealer uses them.
"A dog breaks your heart only one time and that is when they pass on". Unknown
I took it out as soon as I got home it's safely in my album now
Nice coins... enjoy the hobby.... buy some books, ask questions.... your interests will change, maybe several times.... Many here are in the business - and collect as well. Continue to use the forum as a resource... Cheers, RickO
I like the blue pack Ike's.
Yes I plan on getting the last one I need next time
I always thought it would be cool to have a roll of each one although I could never bring myself to take them out of the packaging except to put in a dansco.
I think that's what I'm gonna do once I get one of each I think they would look nice along with my ASE Dansco album I'm working on
Looks like a real nice Blue Ike from here, ones my LCS has look worse than pocket change.
Edit to say: Not his fault, terrible bag marks on them.