Coin Collecting – What To Do And What Not To Do

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It takes a considerable amount of time to learn the art of coin collecting. It is very important to remember that you should coin collect for all the right reasons. It should be your passion, only then will it be worth pursuing.

If you intend on collecting for profit, it might work for the time being, but it will not work for long. This is an important factor to consider, as there are many people who have collected coins for this very reason and have met with colossal failure.

If you wish to be a successful coin collector, you need to take out enough time to learn all that there is to know regarding numismatics. You can get loads of information from sources such as newsletters, magazines as well as brokers who can convey news and information as it happens. If you use your resources correctly, you will have enough time and expertise to act fast and beat the other collectors who are after the same thing. Getting your information on time is very important.

If you are not well versed with the basics, chances are you will not get very far with this hobby.

Knowledge on coin grading is essential to collector who needs to know the real value of a particular collection. This knowledge is especially useful when the collector wishes to trade something for a greater value. It can also prevent wastage of money and scamming for things of lower value. Vigilance is the keyword here.

Patience is one virtue that coin collecting imbibes in all collectors as, sometimes, it takes many years to complete a collection. Many of the reputed collectors in today’s world have waited many years before reaping any benefits.

It is very important to learn how to see and think like a collector. It is not a good idea to be too eager in the initial stages as this can tempt the collector into buying the the wrong coin which can cause immense loss. Always think twice before using any information that is given to you regardless of what the source of information is.

Beginners at coin collection will find it a little difficult in the initial stages. It is likely that the person will not be able to afford items that cost more than around $ 10,000. Therefore, the best course of action would be to start small and simultaneously study the market attentively for five to six months before getting comfortable about the bigger prizes.

Sports and coin collecting have a lot in common- it takes patience and hard work to excel at it and long and short terms need to be established in order to achieve anything. By using one’s common sense and following the rules, one can become a very successful coin collector who knows the trade well.

Abhishek is an avid Coin Collecting enthusiast and he has got some great Coin Collecting Secrets up his sleeve! Download his FREE 58 Pages Ebook, “Understanding And Mastering The Art Of Coin Collecting!” from his website . Only limited Free Copies available.

Some suggestions for Beginners new to stacking. These are general concepts and might help you. Look around, plenty of videos on the subject, this is just my take on the subject.

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List is below.

1. Never pay Interest
a. Ever…
2. Set Budgets and stick to it
a. Buying gets addictive
3. Diversify – Gold/Silver or Bullion/Semi/Numi
a. Do NOT be in 100% metals.
b. The stock market is not pure evil, make your money work for you…
4. Study and Research
a. Whatever the niche, there is an article, a book, price guides, and subject matter experts. Find them, read them, KNOW them…
5. Find your Niche and find it fast
a. In the beginning there’s no focus and you will buy a bunch of stuff. Once you see everything, figure out what you actually like. The sooner you find out, the less money you will waste.
6. Sell Something
a. If you have 20 of the same coin, you will survive with 19.
b. You might buy something you like that no one else likes and can’t sell it or have to sell at a loss, do not repeat.
c. Even better Sell when there is still tons of hype.
d. Sell when you WANT to, not when you NEED to.
e. Experience the REAL cost of ownership, when you sell there are fees, materials, etc.
f. Test your exit strategies from time to time.
7. Identify resources
a. LCS/Forums/People (subject matter experts)/websites/dealerts/etc.
8. Find price trends and set price targets
a. 1-3 month history vs current pricing
9. Be aware of upside potential.
a. If a 2008 with 100k mintage is currently , a 2016 with 8 million minted is not likely to reach . So don’t buy a 2016 at 0.
b. When you are a subject matter expert, you will ‘know’ what is a good price to buy and swoop on a deal.
10. Don’t Impulse Buy or Purchase when Drunk!
11. Don’t be one of those, “I’ll never sell” people.
a. If you are relatively young, most likely you will need to liquidate for one reason or another. A house, a baby, a wedding, a medical emergency, college tuition, etc. Expect to sell in 1-5 year cycles. You don’t have to, but expecting it is better than being surprised. If you don’t, great… KEEP STACKING!!!
b. (Exceptions) IF you are oldER, then OK this might not apply to you. You probably have a retirement fund, social security, pension, savings, a house, medical insurance, grown kids, a business etc.
12. Money is made in the BUY.
a. Don’t chase a coin after it is run up, your profit goes down and risk goes up.
13. There is always another “winner”
14. Are you a collector or investor first?
a. Collectors will buy everything and store them, usually not multiple unless its multiple sets which include not-as-valuable pieces.
b. Investors will limit their buying to certain items and buy multiples and sell when it hits a price target
15. Slabs have their place
a. If you like it ‘raw’. Don’t put it in a capsule and see what it does to the value.
16. Don’t be greedy, take profits from time to time.

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  1. Urgent Question?
    Can the Gold Eagle with 90% gold or 22 k. be called gold bullion.
    The gold eagle is not .999 pure.
    Should we call it JUNK Gold just like we call mercury dimes Junk silver?

  2. I don't think any new beginner should be buying numis'. That is a market for very experienced dealers and collectors. It is what I call the "greater fool theory" where your looking to sell it to someone else for more than you paid. Beginners should stick to maples and eagles. But having said that, I have a question for you. When taking a profit should I sell the most expensive first or the least expensive ones? If I sell the most expensive first – it lowers my average cost per oz. If I sell the lower cost ones first, I get a greater profit.

  3. Ikeo what's up buddy I hope you had a great Thanksgiving if you celebrate it it just feels like dinner now that lot of my family is gone you know but we got to give thanks to everything we have right and everybody we have left and our new and old friends but anyway thanks for the advice got into this with my Toe.. My friend give me a silver quarter and that started from right there I heard the impression silver quarters and I'm like they're all silver and he was like no this is silver silver and that's after me and my grandfather sold off all of his collection that he was going to give to me and I didn't want I wanted the green you know I mean LOL so that one quarter set me off on the Journey very slowly.. So not to bother you or anything I started my collecting Journey 2 years ago never put on credit card always pay cash I am not in debt at all thank God huh but that was very good information my friend okay I won't bore you no more thank you for the information you can always learn something from somebody something new thank you

  4. I've been stacking for around 3 years now, mainly silver bars with low premiums. I'm thinking about starting to stack more gold but I'm not sure how to go about it. Would you say it's better to buy for example lots of 1/10th oz britannias or wait and get full sovereigns/half oz bars etc?

  5. started stacking, got a 100 oz and 10 2 ounces going for the african elephant series =] are rounds worth getting in to? is ee some nice rounds

  6. I have not started a stack yet but will soon. Need to research!. In the mean time I will keep digging them up lol

  7. I have the option to buy 100+ oz of silver at 50c below spot price. (Andrew Jackson 1/2oz rounds)

    If I buy these over a different variation it's always worth spot price but what makes a 1oz coin more valuable (premium) over another?

    Or to reword my question why would someone pay 30$ for an oz of silver if spot is 17.00?

  8. I'm a newbie and still learning, but I have started on the lunar set, I have 2011-2017, I'm an Aussie so I have the funnel web, kangaroo and kookaburra, and wedge tail eagle,hoping to get more of the different years, I have Canadian maple and USA Liberty, bullion bars and a few other pieces, I guess I sound like my collection is all over the place but I will get there, love your video, very helpful, thankyou

  9. Such a great video. Everyone should watch this video. Thank you for sharing and keep stacking eh!

  10. Great collection, stacking is fun, rewarding and investment wise. Would love to see your experience within our forums one day….Keep up the good videos, we enjoy your efforts.

  11. Great video. All points were on spot. Hard to argue against them. Buying a lot of novelty silver is also not the best thing to do.

  12. It is very easy to overspend. One person said that the core of your stack should be Silver Eagles. Because of the liquidity.

  13. There are some coins I never sell. My never-sell stash is only a few $1000's. So they won't really help out with buying house, marriage etc.

  14. Just curious…seems like you researched a lot into your 'stack' so am much more knowledge about the precious metal world than I.
     Is it unwise to just buy 250oz of silver rounds, 250 oz of silver eagles, and 1 lb of gold and call it a worthy investment? Is it necessary to do so much research into the mintage, year, design, etc..

  15. I found your comment about deciding if you're a stacker or a collector first, interesting. I have been a collector for decades and yet I was stacking without knowing it. The two don't have to be exclusive but you're right that there are different mindsets to each. A collector rarely sells, a stacker is not afraid to take profit.

  16. What have been some of your best money makers? Or maybe you can share your general strategy for making a profit. For instance, do you buy commemoratives and flip or look for low mintage precious metal coins to sell at a later date?


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