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Precious Metals for Twenty-Somethings

- Andy Hoffman -

Hi lwhitney,

To answer your question, i would have to say that older is not necessarily better. The real key is desireability. That is to say, you want to invest in things that others will want to buy from you at a later date. For a coin collector, what that comes down to is both the scarcity of the coin as well as its condition. There are many good sites on the web which will tell you how many of a particular coin were minted, what they are currently selling for and even if its value is trending up or down. As i am imagining that you are new to coin collecting, i would suggest that you stick to buying coins that have been professionally graded by one of the reputable firms that are out there in that many dealers (especially on eBay) will try to sell you an AU 50 coin as a MS 60 one. Once you have gained enough experience in grading coins yourself, you will be on safer ground buying coins that have not been professionally graded. Indeed, you may even come to the point when you see a coin that has been professionally graded at MS 62, let us say, and believe that it may actually be MS 65 and so you break the slab the coin comes in to have it regraded.

With regard the advice Cameron gave you, while it may be excellent, i do have my doubts. Those doubts are primarily based upon the uncertainty of knowing just how many people will want to own a coin from a private mint 30 or 40 years down the road. There may well be some, but they will be far fewer in number than those who would want a rare British or American coin in mint condition. Indeed, though this may just be a product of my ignorance on the subject, i am unaware of any coins from a private mint that have any numismatic value attached to them. And though i may be quite mistaken on this point, i am quite sure that when it comes time to sell, it would be far better to have a coin that many collectors would want as opposed to one that would interest only a few.

As an aside, let me caution you not to judge the merit of my advice by the overwhelming number of down arrows it is likely to receive. Just go down to your local coin shop and tell them why you are interested in becoming a collector and ask what they advise.

Good luck.

Commented 4126 days ago

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Beginning of the headline : Anyone reading this blog – and following Silver Circle – possesses WISDOM beyond their years.I like to believe I had it, too; however, when I was in my twenties, financial SURVIVAL out-prioritized all else.That is, there were plenty of choices I would have liked to make, but few I was capable of executing... Read More

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