Thinking about collecting coins...

[wnwitzell]

Apmex

I buy Morgan silver dollars from Apmex.com. They have a wide variety and some good info on market values…they also have gold and platinum coins as well as bars.
Don’t hurt to look.

 

[jrm53]

Do not plan on buying any thing from the mint, I had planed on the 2021 peace and morgan silver dollars. I could not get in to the mint on the phone or the internet and when I did all the big dealers had bought them all and had them on ebay for 2-3 times what they were priced at from the mint. They had them on ebay 5 minutes after the mint opened the sale on them! Jeff

 

[Old Arkansawyer]

Be careful buying high grade coins, sometimes the grade is in the eye
of the beholder. I stopped buying silver dollars when they went above
$7.50 and $20.00 gold pieces above $800.00. Less than 30 years ago
gold was $375/oz and silver dollars could be had for $3.50/each.

 

[magmag]

My stock portfolio is down, and I mean down

Double down on your "down" portfolio, your kids will be thanking you.

History tells us stock market will rebound. Lets take the recent major one, 2008/2009, it rebounded more than double. I have a friend, panic and sold off all his stocks in 2009. He is crying and whining everyday why he didn't double down. He's currently in assisting living complex but could've enjoy his golden years in Barbados sucking cheap margaritas and $2 maid service.

Good luck with the coin endeavor. I have nothing to contribute besides i heard three legged buffalo seems very collectible.

 

[Spurdann]

I see train wreck written all over this. Collecting is for fun and losing money. If you are looking for investments I think silver is undervalued. I would buy whatever has the lowest premium, currently 100oz bars. If you are going to go the coin or paper money route find those type of forums and read them.

 

[Bald1]

Understand, I know Very little about serious investing, to the point of being stupid about it subject, But as I understand one basic rules of investing is Never invest in something you don’t understand. There to many hucksters out there who are willing to help you spend your hard earned money.. Best of luck whatever you decide to do.

Exactly why I stay away from crypto. My son made a killing in Ethereum. I told him I don’t invest in things I don’t understand. Looking back maybe I should invest in things he understands lol.

 

[Hair Trigger]

I've been a coin collector for years. Problem is, when I get enough of them collected, I usually buy another gun.

 

[chief38]

IMHO coin collecting, stamp collecting, baseball cards, etc. is a hobby of us older gentleman- the younger generations have no real interest. For collections to be worth something the demand has to be there. As a collector myself I’ve experienced great disappointment with things such as coin & stamp collecting. Unless you are doing it out of sheer passion or personal love for the hobby, you would probably be better off collecting vintage door knobs. Sorry, just calling it as I see it.

 

[TX-Dennis]

if you bought gold and silver 10yrs ago, I'm sure they appreciated over this period of time, no?!

Well . . . NO.

10 years ago silver was about $32 and gold was just over $1700. Both are lower today. Precious metals are okay for short term speculation if you're smart and lucky, but they are never a good long term investment.

 

[THE PILGRIM]

If you want to collect, I used to, recommend you stick to US Coins.
And try to limit the types.
Several folks have mentioned Morgan Dollars.
Excellent choice!
Avoid like the plague the Non Gov Private Mint issued ‘coins’ which retail at a multiple of Silver Value.
Lately when I’ve been in my local Coin Store to buy Silver, folks are there selling their Special Deluxe Jim Dandy pieces.
They are dismayed when he offers them Silver content only money.
Ain’t got no Silver or Gold content?
He don’t make an offer!

 

[IAM Rand]

Skip the coins and go for the bullion. No one is going to care that the Queens face is on the coin when everything goes to poop. People selling the coins seem to think that just because there are stamped with some special design that it is worth more. It is bad enough buying silver or gold online or in the store. You will not getting spot price. Expect to pay $2-5 more per troy ounce for silver. I haven't even dipped my toe into gold.

 

[IAM Rand]

repeat post, not sure why

 

[THE PILGRIM]

OP needs to decide if want to collect or stack.
I started off collecting, then just put my ‘collection’ in the bottom of my Gun Safe.
Now I’m stacking, mostly buying Rounds, Bars, some Gov minted bullion coins, Eagles, Maples, Mexican Libertads.
Not many of these lately, they have real high premiums.

 

[Skeet 028]

I think saving coins is worthwhile. We save all our coins...Pay the property taxes with 'em when they come due. Keep all copper pennies and silver. Had to pay 100 bucks out of pocket this year...Property taxes have gone up. Silver amounted to about 6 dollars face. I do have small collection of Morgan silver dollars and silver halves...and a few older US gold coins.
Found a silver quarter in Wally World parking lot last week

 

[IronSkillet]

Every time I go into the bank will get a roll of Kennedy $0.50 for ten dollars. About every third/fourth roll will be one pre 1971 or earlier silver coin. (Wife say's Im wrong its like one in every twenty rolls).

 

[djohns6]

Collect Coins or collect precious metals . Trying to combine both can be painful for a novice .

 

[Skeet 028]

Every time I go into the bank will get a roll of Kennedy $0.50 for ten dollars. About every third/fourth roll will be one pre 1971 or earlier silver coin. (Wife say's Im wrong its like one in every twenty rolls).

I did that years ago. Go to the bank and get a couple hundred in 1/2 dollars. Always find a few silver coins. That's why I have a couple coffee cans of silver halves

 

[Mule Packer]

Okay. Some very interesting and informative posts. But please let me clarify, buying gold is not an investment. Gold is simply a hedge against inflation.

Let me explain. In the late 1870's, one ounce of gold was worth approximately $20. With that twenty dollars, one could purchase a new Colt single-action revolver. One could also purchase a man's tailor-made suit for twenty dollars.

Currently, one ounce of gold is worth approximately $1800. A Colt single-action revolver is currently going for MSRP $1799.00. Likewise, a man's tailor-made suit is also going for around the same price.

If you had kept $20 in paper currency in 1870, it certainly wouldn't be worth $1800 today. Paper money doesn't keep up with inflation. So, gold is not really considered an investment. It's merely just a hedge against inflation.

Silver is pretty much the same. For example, one silver dollar (one ounce) in 1873 would be the equivalent of about $23-$24 today. One ounce of silver today is going for around nineteen bucks. An investment? Not really, but a very viable hedge against inflation.

 

[DesertFox]

"For the 16th year in a row, nickels were more expensive to produce than they were worth as cash."

Fill up a conex with nickels. Wait for the appropriate time...

Been into numismatics over 50 years. Certainly no get rich quick scheme.

 

[ladder13]

William Devane is back after a long absence.