Coin Collecting as an Investment
I am probably not going to make any friends on this one.
Recently I have read a number of journal entries refering to coin collecting as a way of investing. In my humble opinion there are any number of ways to invest money that is sure to make more profit than coins. There are alot of reasons for collecting coins, Beauty, histoical significance and many others
investment is at the bottom of the list. Only the rarest coins may rise in price enough to be called investment coins and like everything else, unless you own many of these your gain on just one of these coins over many years may only be a couple of hundred dollars, if you had a thousand of them then you might make money.
We might not want to admit it but most of us are not investors. We are gamblers, thats why we submit coins for grading hoping against hope for one big score.Everyone wants to buy that special
coin at a bargin price, submit it and have it worh thousand's of dollars. If you want to invest get a CD. Mutual Fund, a Savings Bond, even a savings account you will proably make more money. I know plenty of people who have collected coins for a long time and when they sold them they were lucky to get the money they spent on them back out. Coins are alot like used cars they are not worth anything until the dealers own them. I am only speaking for my self, it is my opinion. If you don't agree that is your right after all this is the U.S.A.
Later JimL4004
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