Choice of Collecting or Investing
Question: I would like to become heavily involved in the world of coin trading. I’ve been reading books such as “A Guide Book of United States Coins” and Coin World’s “Guide to U.S. Coins, Prices and Value Trends.” I’ve also been reading the weekly newspaper Coin World religiously for the last four months. My question is: Where are the best places to start buying and selling, and what is the best group of coins to start in?--E.C.
Answer: So far, you’ve done everything right. What you’ve been reading is fine as far as it goes. I’d also recommend “High Profits From Rare Coin Investment” by Q. David Bowers and two excellent books by Scott A. Travers: “The Investor’s Guide to Coin Trading” ($24.95) and “Travers’ Rare Coin Investment Strategy Second Edition” ($10.95), both of which are available from Travers, 599 Lexington Ave., Suite 2300, New York, N.Y. 10022; telephone (212) 836-4787.
There comes a time to apply what you’ve gleaned and put it into practice. Attend some coin shows, cultivate one or more dealers. Try to get a feel for the market and to decide whether you’re a collector or investor. There is a big difference, because collectors buy what appeals to them and only vaguely worry about profit potential, while investors primarily worry about the upside.
It sounds like you are leaning toward investing and possibly dealing. If so, it would be wise to practically apprentice yourself to an experienced dealer. As for what coins to buy, that’s personal. Type coins are nice since you can learn a little about each series. Gold is very nice--also expensive.
Start slow; your interests and instincts will guide you.
Coin News
Modern technology has come to numismatics in the form of the first coin to be completely designed by a computer. The coin (pictured) is from the Netherlands and commemorates the centennial (1890-1990) of the unbroken reign of four queens on the Dutch throne. It is the work of Dutch artist Peter Struycken, with computer programming supplied by Delft University of Technology. The program converted the 11 shades of gray in a photo into high and low elevations depending on the amount of light. The obverse depicts Queen Beatrix, the reverse Queens Emma, Wilhelmina, Juliana and Beatrix. Sterling silver proofs are $53.50, a satin finish version is $39.75; add $2.75 per order for insurance and handling. Contact the Dutch Mint, P.O. Box 1057, Clifton, N.J. 07014; telephone (800) 421-1866.
