Are you considering starting a coin collection? Collecting gold and silver coins is not only a fun hobby, but it can also be a great investment in your future. Coin collecting can be lucrative, especially when you work with a reputable coin dealer. Although learning the coin market can take some time, don’t be intimidated. Getting started is easier than you think. Here are the answers to some common questions about starting a coin collection.
What Are the Best Coins to Own?
It all comes down to what you are hoping to do with your coins. If you are simply collecting for the sake of collecting, then tracking down rare coins and completing sets may be your best option. If you’re making a long-term investment with coins and hope to rely on them for financial security in your future – such as part of your overall retirement package – then the rules are a little different. Your best bet is to explain your goals to a reputable coin dealer and let them to steer you toward the right purchases.
Should I Always Look for Rare Coins?
Rare coins are great for collectors’ items, but don’t mistake a rare coin for one that will net a good resale price. If you’re an investor, seek coins that are in demand first and foremost. It is possible for a rare coin to be in low demand, and thus have a low resale value.
Are Older Coins Always Best?
It is possible for new coins to be very pricy and in demand, but for new investors, it is a good idea to look for coins that have been around for at least 50 years. These coins have enough of a history in the market for you to get a clear, accurate picture of their price and demand.
Don’t go into coin collecting blind. The expert coin dealers at California Numismatic Investments are here to help. We offer the best prices on gold and silver coins, as well as precious metal bullion. Get answers to your coin questions by calling (800) 225-7531.