I know that you are a closet coin investor. Yes, you!
MrEureka
Posts: 24,253 ✭✭✭✭✭
Would you buy a coin you don't care about if you thought you could double your money in five years? If not, how much would it take for you to cross the line and become a 
coin investor ???
coin investor ??? Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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Comments
–John Adams, 1826
Edited to add... only if it was something I knew I could double my money right away!
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Knowledge is the enemy of fear
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Just another subset of the "every coin ever struck" collection?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC
Good point. If I don't care about the coin, I don't want to own for more than 5 minutes.
<< <i>Would you buy a coin you don't care about if you thought you could double your money in five years? If not, how much would it take you to cross the line and become a
The line-crossing incentive for me would be a 95% chance that I could double my money in six months or so.
- Jim
<< <i>Being an investor doesn't preclude one from also being a collector. >>
And vice versa!
<< <i>I am buying modern animal proof crowns from different countries with low mintages.
Just another subset of the "every coin ever struck" collection? >>
Actually I think I ruled out collecting sets, so I cannot collect every coin.
The truth is though, I get just as much a thrill of buying a low mintage proof crown from Indonesia struck in the 1970's as I do buying a original surfaces bust dollar. Really.
Now why is that ...will someone tell me.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>
<< <i>I am buying modern animal proof crowns from different countries with low mintages.
Just another subset of the "every coin ever struck" collection? >>
Actually I think I ruled out collecting sets, so I cannot collect every coin.
The truth is though, I get just as much a thrill of buying a low mintage proof crown from Indonesia struck in the 1970's as I do buying a original surfaces bust dollar. Really.
Now why is that ...will someone tell me.
Can you say "coin addict"?
No goals, no focus, just buy, buy, buy,.....
I give away money. I collect money.
I don’t love money . I do love the Lord God.
that I like).
bob
Fuggitaboutit Andy, ol' curly aint commin' outta the closit for nobody!!!
<< <i>Would you buy a coin you don't care about if you thought you could double your money in five years? If not, how much would it take you to cross the line and become a
This is no big deal. I'd buy ANYTHING if I believed I'd double my money in five years.
Ah, but the other half.......
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>Would you buy a coin you don't care about if you thought you could double your money in five years? >>
The key word in that question is thought.
If I didn't care about the coin, I wouldn't take the time to do the necessary research and there would be no way I could predict how it's value would change the next time it's sold, much less five years from now.
If you expect me to take the word of some "expert" that the coin would double my money in five years, you've obviously lost your mind.
I'll stick with coins I do care about and do want to learn about and do enjoy owning. If I make money when it's time to sell, great...if not, then at least I've had a good time along the way.
I prefer to stay locked up in the closet.
"Keep your malarkey filter in good operating order" -Walter Breen
How else can I know? Some combo of my wild guess and dealer promotion? If I had the greysheet from five years hence and was sure of it by some supernatural source, I'm not sure what I would do with that, but since that is unlikely and about the only way to be sure, I vote stupid question.
<< <i>
I prefer to stay locked up in the closet. >>
<< <i>I don't know the secret handshake, so I keep my hands out of my pockets, because this is where change happens. >>
Change, I'm for change
Someone's reading my mind
This very thought crossed my mind today.
I say I am a collector.
I don't care what my MS coins are worth when and if I manage to complete my set. I have fun hunting them down one by one at prices I am comfortable paying.
But today I got to thinking about the collector/investor thing. I have a proof Lincoln commem that is seemingly flawless with great cameo and great mirrors.
I love it in the original mint packaging. It is my wife's number favorite coin of mine and yet I'm getting ready to send it in for the coveted 70DCAM designation ONLY because of the value (I perceive) it will have in that holder.
If it weren't for the money I'd keep it in the blue velvet box for sure.
I guess it's just chump change to most but a C note is nothing to sneeze at in my hood.
"Inspiration exists, but it has to find you working" Pablo Picasso
<< <i>
<< <i>Would you buy a coin you don't care about if you thought you could double your money in five years? >>
The key word in that question is thought.
If I didn't care about the coin, I wouldn't take the time to do the necessary research and there would be no way I could predict how it's value would change the next time it's sold, much less five years from now.
If you expect me to take the word of some "expert" that the coin would double my money in five years, you've obviously lost your mind.
I'll stick with coins I do care about and do want to learn about and do enjoy owning. If I make money when it's time to sell, great...if not, then at least I've had a good time along the way. >>
This sounds like a healthy numismatic attitude.
<< <i>Fuggitaboutit Andy, ol' curly aint commin' outta the closit for nobody!!! >>
Too late. You've been outed.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I’m still an addict 🤓
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I like to double my money in 3 weeks, not in 5 years, thank you.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
My main takeaway is that @CoinRaritiesOnline has another 10k posts floating in the ether. That's some quality content. I guess I have some good reading material for a while.
Chopmarked Trade Dollar Registry Set --- US & World Gold Showcase --- World Chopmark Showcase
Double my money guaranteed in 5 years - guaranteed?
In a perfect world I couldn’t see why not as part of a diversified portfolio. However, I’m currently at an average annual return of 19% over the last three years in the stock market. So, that’s paying me a higher return. Of course, it’s certainly not guaranteed…Nor is anything but death, (for now). ☠️
However, I expect a civil war in 3 years so it might be a rough coin selling environment. 🤣
All my holdings will be shifting to metals in about 28 months. There you go. You have my secret.
Having fun while switching things up and focusing on a next level PCGS slabbed 1950+ type set, while still looking for great examples for the 7070.
Yes absolutely!! If you want to find out more about which coins increase in value the most, check out https://www.rarecoins101.com/key-date-coin-list.html#google_vignette
Highly recommended!
Sure- I would buy a coin that doubles in value in 5 years. Can you let me know which one or two?
I assume the metal is lead...
A bold assumption, surely there is some brass mixed in.
Collector, occasional seller
I buy only within the series I collect if they increase in value so be it and if not then that is OK with me as well. Maybe if I had more funds I would play that game I guess I will never know.
Don’t forget the copper. Lead gets cold and needs its jacket.
Having fun while switching things up and focusing on a next level PCGS slabbed 1950+ type set, while still looking for great examples for the 7070.
No, I do not collect for investment. I have no heirs nor close family members so I will enjoy my collection for as long as I can, regardless of value.
No. In February, I was offered a roll of 35 P Buffs raw at $45 per coin. Not my series. The few I saw looked MS 65 or MS 66. Could not inspect the roll. Seller said this roll had sat there for many years. I believed him. He's a go to guy for this sort of thing. He just buys them and flips them.
I'd have to inspect them, send them in for grading, etc. Then I'd have to sell them. Would I make any money? Maybe. But with the opportunity cost of my time spent in the matter, no thank you.
"Seu cabra da peste,
"Sou Mangueira......."
Old thread, but to play along:
I would never think a coin would double, or increase at all in value for that matter. I deal in hope when buying collectibles.
yes, and I have many times!
Tom
Aside from switching to collecting larger silver denominations, my purchase decisions more resembled informed gambling than investment choices. Some of those gambles were bargains that also have performed well long term. I do recall grabbing a dozen low-grade, original 76-CC halves strictly as an investment. Who invests in low grade coins? They've performing well, though.
Grabbing a nice duplicate could be regarded as investing. I use them for income and trade now.
Gambling.
Investing
I forgot - I also collected classic commemoratives and used to collect Walker short set coins in MS65-66. Both have performed poorly the past 17 years. Some have dropped 30-40%.
My approach with commems is to collect them in attractive circulated grades so I wouldn't lose much money. A few dirt-cheap "gambles" turned out to be really nice coins (MS63 and MS 64) and have performed well that I might break even with my commemoratives despite so many that have lost value.
I stopped collecting short-set Walkers.
An eBay "bonanza" that's worth about five times more than I paid for it.
A surprise MS63 with nice toning.
I would not. I don’t see coins as an investment, because they’re not.
I buy coins that I like because collecting is a hobby that I enjoy and I wouldn’t want any of my coin money tied up for 5 years in the hopes it would double.
I’d rather spend that money on coins that I’m proud to own whether they increase or decrease in value.
Even if it was an absolute guarantee that the value would double I still don’t think I would do it. Again, because I’d rather put that money into coins that will bring me joy every time I looked at them.
However, I have purchased coins in the past that I had no intentions of keeping, only because I knew I could quickly sell them for a profit.
It's that first clause I'm having trouble with. Being a generalist, there are really very, very few "coins I don't care about". The only coins I "don't want to buy for my collection" are coins I already own - in other words, I don't want to buy duplicates.
I might buy a duplicate if it's a definite upgrade - in which case I sell off the older inferior example (usually at a loss).
I might (accidentally) buy a duplicate that's inferior to the one I already own, due to forgetfulness or carelessness. In which case I will promptly on-sell it (almost always at a loss).
On the rare occasions I actually make more selling a coin than I paid for it I usually wouldn't know, since I don;t actually track those numbers. I certainly don;t do it often enough to create anything considered a "capital gain" or "income" for tax purposes.
I would never, ever, buy a coin with the intent of selling it at some future point, or at some alternate venue, for profit. I've been collecting coins for over 40 years and never made a profit doing it, and don't plan on starting now.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded one DPOTD.
I only buy coins listed on the David Hall subscription newsletter that are guaranteed to double in value.
Your hobby is supposed to be your therapy, not the reason you need it.
Think again!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I would never buy a coin I didn't care about. A a collector it's always nice to see my coins increase in value; but, I'd go elsewhere if I wanted to strictly invest.
I've bought lots more coins to flip or for investment than for my many collections. Most of them were a bust but I'm selling and setting aside some real winners as well.
It's hard for me to pass up free money. If there were Japanese 100Y coins in a "10" for a dollar box I always bought them. I made a little profit and still was able to set aside a few nice looking coins. There used to be silver in these boxes as well once in a while. My favorite though was the coins fresh out of world mint sets. The mint sets were hard to find because they were so cheap no one bothered with them.
It's really rather remarkable how little most of these coins have gone up in value. Despite high quality and tiny mintages people don't collect much of the more off-beat coins and medals. Even exceedingly rare or unique good for tokens don't bring good money because collectors don't want to pay up for them.
Meanwhile you can get pretty good premiums for an ugly and bent '14-D cent or a corroded 1822 dime.
If I had it to do over I'd spend more effort on coins for my collections and to flip and a lot less on "investment" coins. I'd be money behind today if I had but I might have had even more fun and it would sure be a lot less work.
Yes. I have been a collector/ investor/ promoter/ numismatist but now I'm mostly just a seller. I've enjoyed all of it.
I guess I have been guilty of flipping coins once. Dealers like David Lawrence and JJ Teaparty use to have no respect for any coins in the old small while ANAC slabs. One early morning near the start of the 2000's I came home to find a listing at Teaparty for 3 Proof Indian cents.
There was a PF 60 1874, a PF 62 1880 and a PF 63 1891. All 3 coins had electric blue toning and all three were listed at $100 a piece.
I spent about 6 months trying to figure out how to make a proof Indian cent collection but ended up selling them on Teletrade for a little over $1,500. money I ended up spending on my Seated collections. James