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What Are The Fundamentals In Collecting and Investing in Coins?

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Hi there folks!

 

I'm a art collector primary and want to know about the coin market.

 

What should one have in mind before buying coins? How can you bargain?

 

Another question that I have.. Where can I find a good marketplace to buy coins? As mentioned before I am a art collector, and i'm usually using the site https://www.barnebys.com

 

I saw that they have a section for coins: https://www.barnebys.com/auctions/coins-and-banknotes/ Can this be a good place to start?

 

Kind regards!

 

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I have a reasonably valuable collection (maybe $50k+) amassed over a period of 40 years or so.

 

My rule of thumb is to collect and study what interests you, gain wide ranging numismatic knowledge (covering the whole of numismatics), and only buy what represents good value for money at the time of purchase. That way, you are in a position to much more easily find bargains. After that, FORGET about the value of your collection, either as individual coins or as a whole collection.

 

When I die, my kids should make a a 'killing', provided the collection finds it's way to a good public auctioneer, with an excellent international reputation.

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Like with art, buy something you don't mind looking at. If the value goes to $0, then you won't mind as much.

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They usually say "the best place to start is by checking your own piggy banks, dressers, couch, or your car". That's a good way to train yourself in picking up a coin, go online and research it, get informed and then base your collection on something that interest you. Perhaps a country, religion, a war timeframe, an indivitual who inspires you or calls your interest. You don't want to do my mistake... I started on the U.S. old one cents, then V cents... & ended up going worldwide. I found some cool pictures on some coins and that's what got me in trouble. Just because I liked a pretty bird or a fish, some lion or a flower... I have now concluded a collection of about 300/400 coins & I totally forgot about my U.S. one cent. I'm still filling up the gaps on thoses I'm missing, while researching what I ended up with. A misfortune...fortunately. :) someday it may benefit me or my kids. Let time tell its story.

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I wouldn't buy from that site. The first numismatic listing I saw was 100 $1 silver certificates, with a starting bid of $200. That lot for example is worth $125-150 tops. I can only assume the rest are accordingly overpriced.

 

Just like art, numismatics is a field spanning 2600 years and the entire globe. Before you dive in, you need to determine a plan of attack. Do you want to fill an album of wheat pennies 1909-1958? Do you want just a couple very valuable coins to display in your house? Do you want coins that speak to your inner artist, regardless of real value?

 

As an art enthusiast, I would recommend taking a look at a few specific coins:

 

- US Walking Liberty half dollar (1916-1947)

- Alexander the Great tetradrachm

- Lower denomination coins from France and Italy, ca. 1900-1914

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Why do you want to collect coins? For their art, history, investment, curiousity, etc? Do you collect art randomly or do you have a strategy.

 

You might want to start someplace like the American Numismatic Association (ANA) and their getting started pages such as:

 

https://www.money.org/ten-rules

 

Maybe you are more interested in medals, art medals, or tokens.

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