Growing up in Boston Massachusetts, when I was in my childhood I loved American history right from the start. I began looking through my change and would put away any wheat pennies, buffalo nickels and mercury dimes that came my way.
Then my Grandfather taught me the difference between "old" coins and "rare" coins. He taught me the difference between "circulated" coins and "uncirculated" coins.
He taught me about the different mints that coins were made at and the significance of each mint. Why they were built, how important it meant to the United States to be able to allow citizens to have easier access to circulating money.
What my Grandfather taught me about rare coin collecting and investing was priceless and eventually led me to a career as a Numismatist, which is the studying and collecting of coins, specifically United States rare gold coins minted before 1933 and Morgan silver dollars.
When I made the transition as an adult from collecting my circulating pocket change and the coins my Grandfather gave me over to collecting and investing in pre-1933 United States Rare Gold coins and Morgan Silver dollars. I still had many things to learn about how to acquire the best coins I could afford and at the same time maximize their investment potential.
Our expert rare coin collecting and investing advice will guide you in making informed decisions, choosing the "right" coins, avoid common mistakes and navigating the exciting world of United States Rare Gold and silver Coins.
In this blog post we are going to talk about 5 key classic old school collecting and investing tips I've learned over a 30 year period to help you assemble the most historically significant and valuable rare coin collection you can afford of a lifetime!
A collection that will enrich your life and bring you joy and can be passed on for generations to come.
1.) Historical Significance:
Every rare coin collector and investor loves the historical significance of a coin. Even more so, a great story behind the coin, where it was minted, its design, the time period and era it was produced.
Was the coin minted during a time the United States was at War, during the Great Depression, the "Wild West," or the California Gold Rush? Great stuff!
2.) Rarity/Diversification/Investment value:
The more scarce or rare a coin is, obviously its value will be much higher than a coin that is more readily available in the rare coin market. We always recommend to "acquire the best coins you can afford and never choose quantity over quality!"
The best rare gold and silver coins to acquire that provide the best investment value are historically significant, rare, collector/investment grade quality that are authenticated, graded, certified, and 100% guaranteed by one of the three major third party grading services, CAC, PCGS, or NGC.
The best United States Rare Gold and Silver Coin collections hold an assortment of both authenticated, graded, and professionally certified rare gold and silver coins.
This diversification strategy allows you to maximize your investment gains, protect and grow your wealth while minimizing your risk when the rare coin market isn't performing at peak levels.
Collecting rare coins should be exciting and fun! At the sametime they can also serve as exceptional long term investments to grow your wealth when you choose the "right" coins.
3.) Patience:
"Patience is a virtue" We have all heard this before and when assembling a historical, valuable, and rewarding rare coin collection this saying couldn't be more true. If you are assembling a series, mint set, typeset, or a date run. The last thing you want to do is choose a coin just to complete one of the above.
Sometimes you have to wait months or years to find the "right" coin that completes or is the right addition to your collection to help you complete the type of collection you are seeking.
4.) Plan a Budget:
Just like setting goals in life, planning your budget must be reasonable and attainable, and you have to stick to it!
Collecting and investing in rare coins is an art form and the direction and approach you take depends on your budget. Once you decide on a budget, it will help you choose what approach is best for you.
5.) Work with a Rare Coin expert:
Every collector and investor needs to work with a rare coin expert who has their best interests at heart. An expert who will guide you to choose the "right" coins and help you avoid making mistakes. Every great collection ever assembled has had a numismatic expert behind it! Trust me when I say that.
At Minuteman Rare Coin, with our numismatic expertise and guidance we will assist you in choosing the "right" coins and help you avoid the common mistakes that collectors and investors make.
5 Classic old school rare coin collecting and investing tips conclusion:
The tips i've given you above are tried and true to successfully collect and invest in United States Rare Gold and Silver coins.
The Historical significance, rarity/investment potential, patience, budget, and working with a rare coin expert.
I will say that there is no right or wrong way to create the most historical, valuable, and rewarding rare coin collection you can afford of a lifetime. A collection that will enrich your life in so many ways for generations to come.
For example: Any one of the following could be the best choice for your budget to allow you to acquire the absolute best coins you can afford.
Some possibilities are rare gold coin typesets from the New Orleans, Dahlonega, GA. and Charlotte, NC. Mints, a Carson City Morgan Silver Mint Set, a $20 Gold Type 3 Carson City Mint set, or one of my favorites, an 8 coin Early Twentieth Century gold coin typeset.
Your budget and focus could be on a specific design or era that holds your passion and interest.
Minuteman Rare Coin Numismatics:
We invite you to join our collectors and investors community and begin to assemble the most historically significant, valuable and rewarding diversified Pre-1933 United States Rare Gold and Morgan Silver Dollar Coin collection you can afford. A collection that will enrich your life and bring you joy for many years to come!
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What's the number one piece of advice we give our clients?
"Always acquire the best coins you can afford, and always choose quality over quantity!"
Sincerely,
Edward Walsh, President
Minuteman Rare Coin Company