Quote:
Originally Posted by facialfreak
And one of the biggest scams going is numismatic coins ...
Numismatic coin dealers are preying on uneducated investors now more than ever before!!
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I don't know that it should be called a scam. But, true, if you are buying collectable coins as metal you're an idiot.
The idea behind collectables is that if the economy DOESN'T crash, their value increases at a rate that historically has been far higher then the increase in metal values.
I have a nice stash of low to middle grade collectable coins I bought years ago - I figure if the economy doesn;t crash, I'll sell them at a quite nice increase when I am an old fuck, but if the economy does crash, I have the metal.
I have stacks of BU silver dollars - the metal value now is over 4 times what I paid for them - and the collectable premium has also risen - so it's a win both ways.
It's still not an unreasonable strategy, provided you pick the right grade to buy, and buy from the right sources.
Anyway, the picture is more complicated than you paint it to be.
There is a solution tho - just buy circulateds at that days coin silver prices, and leave the uncirculateds to people that have studied.