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Returning to the hobby
KDS
Posts: 2 ✭✭
After many, many years out of the hobby, I’m looking to get back into collecting. I’d like to focus on one coin type (I.e. Morgan dollars) but I’m interested more for investment grade coins that I’ll keep and hold into retirement. Are Morgan dollars a good investment coin or would you recommend a different coin type. I’m open to your opinions!
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Welcome back.
Here's to hoping there aren't another 14 years between your first post and the next one.
Welcome back!!
Run away!
So many fakes, frauds and f#$$ks... learn and educate yourself.
Morgans are probably the most collected coin in the hobby so demand will always be there.
With that said you, yourself might find something more enjoyable to collect.
Many others here are not big fans of Morgans.
I think as long as you are prudent with your choices you will be okay.
Seems like most coins slowly increase over time.
Student of numismatics and collector of Morgan dollars
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Is your focus on collecting or investing? You mentioned both.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I hope you enjoy reviving your intereest in the hobby. I watched this video of Randy Campbell at FUN yesterday talking about his enthusiasm for Morgan dollars:
https://www.youtube.com/watch?v=eNBGqB31HAM
I wouldn't "invest" in coins.
All comments reflect the opinion of the author, even when irrefutably accurate.
Hello 👋
Welcome to the Forum!
You said you might be interested in the
Morgan Dollar?
Great choice!
I love all the many Morgans.
Esp the
"Varieties"
It's an all different ballgame when searching for Varieties!
It can be tons a fun, along with the additional value you can bring in to your collection.
Many collectors either don't care for Varieties or are not aware of the profitable variety aspect?
If interested, I suggest you purchase a guide book to help you tremendously!
Inexpensive too!
Around $30
Whatever you decide to collect.
Good Luck
The most important part...
Have
FUN!
Here's an
Example:
Regular 1878 Morgan Dollar.
With the normal
7 Tail feathers...
Now,
The
"Variety"
8 Tail feathers...
"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.Collect and "invest" in your hobby...but please do NOT consider them investments. They are NOT.
You may or may not make money on your purchases....maybe you'll make good numismatic choices or maybe the underlying metal value will simply rise enough to drag upward all the coins.
Personally, I mentally write down anything I buy to ZERO and thus whatever I get when I sell it -- in retirement or whenever -- is a windfall.
There are so many variables with the coin hobby that unless you have decades of experience, are a dealer, or have deep pockets...it's tough to "invest" in coins and generate competitive returns.
Any thoughts to considering gold coins ? At least there you have traditional hedging concerns even if the coins are more expensive than silver ones.
Welcome back and good luck. I too have returned to collecting after years away. I came to the realization that I am unable to properly grade a coin or even come close to a correct grade. With that in mind, all I buy are slabbed coins. The surprise to me after years away was how popular the actual coin holder has become, and the value being assigned to the holder.
Thanks for everyone's feedback! I must say its a little concerning that some of you feel that there is little investment value in coins. I was hoping to buy and hold for 10 years+ but if the consensus is that it is not a good idea, then I appreciate their feedback and will reconsider. I'd say Im more of an investor than a collector.
Some coins go up in value, others hold or go down in value. If you buy condition rarity and then more coins of that condition appear, value goes down.
Many here say that if you want to invest, stocks is where the money is at. Collect if you like to collect and enjoy doing so. I have coins that have probably doubled in value over time, but I would probably have much more money had I invested that money into Roth IRAs instead.
There are many ways to collect Morgan Dollars.
The two extremes are, of course:
And everything in between.
If you are looking to invest long term, I'd look for index funds for superconductors/microchips. Collect what you like and can afford to lose.
Nearly every opinion will be different and will reflect the interests and experiences of the person who responds. Learn what you like and are interested in as well as your goals and tolerance for risk. None of us can answer this for you. Good luck.
In honor of the memory of Cpl. Michael E. Thompson
If it's a hobby, you buy it because you like it and it gives you pleasure.
If it's an "investment", you buy it even if you don't like it because you expect the returns to be good.
We could get into the effect of compounding and why 99% of coins don't keep up with stock funds (and probably 75% of them don't keep up with savings bonds), but that's almost besides the point.
All comments reflect the opinion of the author, even when irrefutably accurate.
I will give you my most basic response. You have shown an interest in rare coins; there is no need to rush. Search online or buy a few books first. My personal rule of thumb is this: If finding just the right coin doesn't make you feel like an 8 year old kid getting exactly what he wanted for Christmas; then go find something that does make you feel that way.
Investing, for better or worse, is something that should be done with little emotional involvement; except to perhaps support ideals you hold.
Hobby's should give you a greater zest for life, and if you breakeven or make a little money; well that's just the cherry on top. My opinion. James
Just my opinion... but for me, I view coins as a hobby. Period. Coin purchases and numismatic related items are a part of my monthly budget under "Entertainment". So, I'm not expecting to get ANY of the money back... sort of like taking my girlfriend out to dinner and a movie... but unlike the dinner, I can go back to coins on a regular basis and get "some" of my money back if I decide to sell.
Investments are a different story altogether. I'm still working, so I'm contributing to SS, MD State Teacher's Pension, a Roth IRA, and savings. Part of my coin collection is PMs (pre-33 AU and 90% Ag) and that's really the only part of my portfolio in coins that has done exceptionally well but with the caveat that I bought before the huge run-up in PMs.
Best of luck in anything you decide...
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