I used to collect pennies as a youth, but more recently went back to more serious collecting. Because there are so many newcomers like myself, I thought I would share the basics I almost forgot. Whether it’s for fun, investing, or profit, you need to know what you are doing. Assuming that you are seeking individual already-minted US silver or gold coins, the following applies. The value of a coin is determined by it’s (1) rarity i.e. the number of coins minted and (2) it’s condition. When buying a coin, consider how the condition was decided. If it’s the owner’s opinion, beware. That can be very subjective. That’s why you should choose coins that have already been graded by a reputable service. Use only first-tier, or national recognized agencies.
What is it with these quarters that millions of people seem to go “gaga” about? Primarily, doing it is easy as quarters can be found almost anywhere and the collectible coins do not cost much more than face value.
Coins may be bought in bulk from large dealers, or may be purchased by the ounce in coin shop across the country. Nearly every county in the U.S. has at least one “>coin shop Winston Salem
These shops provide coin collectors the opportunity to actually examine or scrutinize the coins that interest you. Fortunately, these coin shops are also replete with experts and coin lovers who share your passion and can offer their valid judgment on a particular coin’s grade or value. They can also offer helpful tips as well as advice.
If you are just starting out getting a few rolls of circulated coins from the bank can help you to get started on your collection. More experienced collectors will need to purchase a lot of bank rolls to find coins of interest but it is often well worth the time.
There is one bright piece of information to report. The only investment that has increased in value is gold. Gold coins are valued at $1,947.88 an ounce and the spot price for gold bullion is over $1,844.00 an ounce at the close of business yesterday. Some bullion dealers believe that gold will hit $5,000 an ounce in the coming year…they may be right or they may be wrong, it’s for you to decide, but those forecasts seems fairly realistic given the economic realities we face today. Gold has increased in value over 600% in the past ten years.
Thirdly, make sure that you find a trusted and reputed dealer to buy silver coins from. You might have to check with several dealers before you settle on one because silver is not generally kept in stock. Buying silver coins will be made easier if you have a great relationship with your dealer. Now that you have purchased your silver coins, you should keep it ideally in a safe, either in your home or at the bank. You now have physical possession of your silver coins so you need to keep them safe.