How to Go About Buying Coins for Investment Purposes
How to Go About Buying Coins for Investment Purposes
Be careful of buying expensive coins for investment in the beginning unless you’re going to be using an agent to get your coins. Since there are coins for investment purposes you’ll necessarily want to get the best coins you can and paying as much as 50% extra for your coins isn’t good investment sense.
And if you try to buy coins that are very costly to begin with you’ll almost definitely end up over-paying for your coins. That’s why I suggest you go with a knowledgeable agent in the beginning.
If you want to keep it on a purely investment footing, then you can keep your agent to buy all your coins for you over the years. This is the best option for you if you’re only interested in coins for investment.
Of course you’ll need to know when to hold your coins and when to sell them. Although the general consensus has been that you should hold your coins for investment for at least three to five years before selling them, I’d recommend going beyond that and holding them for at least ten years if not longer.
You’ll need time to recover from the 10%-20 % retail price markup that you bought your coins for investment for. And unless its bullion coins you’re holding, it will take time to recover your prices, especially if you’re purchasing coins for investment which are priced in excess of a thousand dollars.
The return you get will be great but you will need to wait, and in this case, patience really is a virtue. When you feel you’re ready to sell your coins for investment, your agent can help you in this matter as well. Talk it over with them and see if you’re being premature in selling your coins for investment and whether you should hold them for some time.
Also make sure that you agent understands your wants. You’ll want to assemble the best possible coin set that will give you back the most value for your investment, so don’t go around randomly buying every coin that has a high price tag on it.
This will do nothing to enhance your collection and you will only get a very mediocre collection that won’t bring a good return. Choose what type of coins for investment or what type of field you want to go into, and stick to that.
It’s always better to get one set of really high grade coins for investment complete, than to go out and buy everything on the market. In this way, with a particular set of coins, your coin value will go higher than if the coins were stand-alones.
Fifty State Quarters Handbook and Coin Album (Collector’s Value Guide)
Packed with fun facts and activities, this handbook features: - Vivid illustrations and an interactive, fun reference guide - An entire page devoted to each state and to the Golden Dollar Coin - Fascinating fun facts about U.S. History, coin collecting and how money is made - A colorful activity section featuring games and trivia - An in-depth look at the first 10 State Quarters - Coin holders for all 50 State Quarters
List Price: $ 12.95
Price: $ 12.89
From www.pcgs.com - thePCGS Price Guide - your source for rare coin values. David provides coin collectors with info on recent changes in coin prices and other activities in the rare coin market. Market Comments is a weekly video featuring David Hall. He talks about activity in the rare coin market and weekly, monthly, and yearly changes in coin values. Brought to you by Professional Coin Grading Service - www.pcgs.com
Video Rating: 5 / 5
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