How Can I Make The Most $$$ on Coins?
Excellent Question! One I wish people would ask more often!In short by buying rarities and holding them for many years. There are some other ways which will be discussed later in MAY.
First, Buy ONLY coins which are backed by a physical precious metal content (Gold or Silver) are the most commen. Your choices are almost endless!
Second, deceide on if you are going to collect for bullion or numismatic value. This makes all the difference in the world. (a 2006 .999 silver American Eagle bullion coin can be purchased anywhere between $13.50-18.00 from a respectable dealer. -(A 1996-PCGS MS-70 .999 SILVER AMERICAN EAGLE is going to cost you a bundle and may be very hard to resell for what you might have to pay for it.
Third, If possible buy only sight seen coins. Buying sight unseen coins is a real craps shoot. No manner what the sellers return policy when dealing with a significant amount of money no one like to make a sale and then have to "unmake" it. DON'T FORGET THIS!!!!!!!!!
Fourth, Speaking of return policies, Make sure the dealer offers a good one! A reputable dealer will not only sellyou coins but will also buy back any you do not like at the exact same price less shipping and handling whick is fractional compared to the price of the coins.
Fifth, Be sure to ask the Dealer Questions like "how many years have you been in business?'
2) Have you sold a lot of coins like this one?
3) Do you have any other coins like this that are a little nicer?
4) What is the red book value of this coin?
ALERT!!!!! Any dealer who says they don't know-DON'T BUY FROM THEM ! ! !
The Red BOOK is Published each year and contains values for almost every coin known to the usa and phillipines and early colonial America.
5) How much did this coin sell for 5 years ago? 10?
EXTRA TIPS
DO NOT buy coins from late night TV shows. The markups are enormous to cover advertising costs. I've watched some of those shows they make me sick. I swear I've heard the words "CRAZY" and "CRAZY,CRAZY' and "CRAZY,CRAZY,AMAZING" so many times over and over again it almost made me start to beleive it was until I came to my senses and realized I was the only one who was almost the crazy one who was about to pay 2X the price for 1889 silver dollars I can buy from any reputable dealer! BOTTOM LINE WITH THE TV COIN SELLERS IS THEY ARE JUST A LOT OF HYPERS TAKING ADVANTAGE OF LONELY PEOPLE WHO CAN'T SLEEP AT NIGHT! ! !
CAREFUL of EBAY. SomeTIMES YOU CAN GET SOME GOOD DEALS BUT ALWAYS GET INSURANCE AND PAY WITH PAYPAL!!!
FORGET ESTATE COIN AUCTIONS. IF YOU HAVE NEVER BEEN TO ONE GO SOME TIME AND WATCH A 1948 AG4 walking lib 1/2 sell for $9.00! WE WILL ALL NEED TO SEE SILVER GO TO 44.00/oz to make a little on those at that price!!!
LIVE SPOT FORECAST @ 7:20a.m. cst. ----------author-GR
posted by Gold Futures @ 2:10 AM
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