New Post from Andrew Brunhart
The coin-collecting business is on fire right now, which makes it a perfect time to invest in the hobby. What makes it simpler to join the race is that most of the auctions are online now, so you can be part of the action from the comfort of your own home.
The vice president of numismatics at Stack’s Bowers Galleries, Vicken Yegparian, says, “There’s so much fervor around coin collecting in today’s economy, because it’s so accessible to so many different people.” You are able to join the game at whatever price you can afford. For, example Buffalo Nickels can range anywhere from $50 to a few thousand. This easy entry aspect of coin collecting makes it a great option for investors. There’s no high buy in.
Additionally, the learning curve is not too steep. To be a successful collector you need to be able to appraise the price of a coin. Fortunately, this doesn’t take too long to learn. The three basic rules to live by when appraising are quality or condition, rarity, and the history of the coin. You may not know the answer to all of these questions for any given coin, but you can find the answers relatively easily. You can also make smart decisions about how to collect by gathering coins in a series. For example, the 50 State Quarters are much more valuable as a set than they are individually.
In terms of collectables, coin collecting has a great investment advantage. First is that coins are “one-offs.” Coins were produced in mass by the government, so you have other samples to compare them with as far as quality and price. Additionally, the Numismatic Certification Institute (NCI) has a system for appraising the condition of a coin so that you can verify authenticity and rarity of certain coins. And, finally, coins not only have historical value, but also intrinsic value. Whatever coin you have, it is likely worth something for some reason, so start investing!
via Andrew Brunhart’s Coin Collecting http://ift.tt/1iTqptv