Rare coin investments can be very profitable and offer something a bit different from investing in bullion coins. These investments tend to appeal to people who want something that’s a bit more interesting than bullion or bullion coins. The outlook for the metals markets in 2013 is still very strong, and that plays into the desirability of these investments, to some extent.
The Metals Market’s Role
The role of the metals market in rare coin investments plays a significant part in why people decide to invest in rare coinage. Many rare coins are made out of bullion and, in some cases, this plays into their desirability.
Because there are so many different kinds of coins, from so many places, from so many different years, buying the right one can be very intimidating to new investors. Even if you know exactly which coin you want and how much you are willing to pay, it can be difficult to tell if you are really getting it. While there are no easy answers and no guarantees, there are some basic ways to make a coin investment less frightening.
First off, remember that you are spending your hard-earned money; you should never feel pressured to buy. If you are not completely sure that you are making the right choice, take a few days to think about it. Do a little bit more research and get all of the facts before making a rash decision. Rare coins making amazing investments, but only when they are done right.
There are many places to buy rare coins, online dealers, coins shops, and coin auctions. Sometimes auctions make rare coin news because coins are sold for extravagant amounts of money. For example the New York Times ran a story about how a 1794 silver dollar sold for $10,016,875 at a coin auction in January of 2013, and this has upstaged the 2012 record where a 2002 a 1933 Double Eagle sold for $7,590,020.
While big money changes hands at coin auctions, are they really the best place to buy rare coins? According to investmentu.com rare coin auctions are a good deal for the auction companies. Yet, Investment University says auctions may not be the best place to buy coins. Buying coins at rare coin auctions requires an extensive investment of one’s time, and you can probably do better on the telephone with your coin dealer. In addition, unless you magically find a sleeper deal you will most likely pay top dollar for any coins you purchase at auctions.