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Coin Collecting Advice

 
 
Reply Sun 16 Mar, 2003 03:34 pm
I didn't find a hobbies or collecting category, so here I am. I have been eying "full" collections of proof sets (late 50's to present), which are going for $700-800. I have a couple already, which I love to look at. I realize most may not appreciate much in value, but is this an "investment" where I won't lose anything? Any advice or suggestions? Thanks.
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gezzy
 
  1  
Reply Sun 16 Mar, 2003 03:54 pm
I've always been interested in coin collecting, but just started reading up on it recently, so I can't be of much help at the moment. I'm looking forward to seeing what others have to say.
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Craven de Kere
 
  1  
Reply Sun 16 Mar, 2003 03:58 pm
http://www.stacks.com/introtocoins.htm

On that page is this link:

http://www.stacks.com/investment.htm

Quote:
Consider Your Potential Investment Purchase Very Carefully

Many newly minted coins are marketed through advertisements and direct mail pieces as semi-numismatic coins or private rarities. Usually these take the form of commemorative coins struck for a special event or to honor a specific political or folk her. They are often packaged in a special presentation box and come with a certificate of authenticity or some other variety of credibility. These pieces are often touted as good investments because of their theme or restricted low mintage. While it is true that an occasional piece such as the U.S. Olympic gold coin from the San Francisco Mint or a set such as the French Mint's Statue of Liberty centennial issues does become a true rarity and may appreciate dramatically in price, many modern issues end up being worth little more thantheir bullion value, leaving the buyer holding an expensive, worthless presentation box and certificate. The U.S. bicentennial coin sets are an example of this.
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bermbits
 
  1  
Reply Sun 16 Mar, 2003 07:19 pm
Thanks, Craven. These are not commemorative coins - they are US coins from each year in a sealed package. Proof coins have never been touched by ungloved hands and have a high polish to them. These are a step above mint sets. I'll do some research tonight.

Gezzy, stay tuned.
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quinn1
 
  1  
Reply Mon 17 Mar, 2003 09:49 am
proof sets:
http://www.ccjc.com/coin_information/library/us_proof_coins_.htm

Do yourself a favor first of and pick up the most recent copy of Red Book here:

http://www.amazon.com/exec/obidos/tg/detail/-/1582381909/qid=1047915605/sr=8-1/ref=sr_8_1/104-0893165-0931906?v=glance&s=books


This will give you the actual value of these coins, and from there, with the rest of the information you can get from this book, and others like it, but this one most of all, you can make a more enlightened position. It is the book of choice for all coin collectors.

Proof sets are a great way to get involved but, like I said, get the book and compare the going rate to the purchase rate you are looking at, only then can you determine if you arent getting ripped.
Coins will generally only go up in value, mostly silver, gold and proof sets. The only other time a coin will go up and be of significant value is due to errors, quantities available, etc.

You might want to browse around a few of these places as well:

American Numismatics
http://www.money.org/index.shtml

Numismatica has a great wealth of information
http://www.limunltd.com/numismatica
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