Buying Coins Video: Investor vs Collector | American Numismatic Association

Hello, this is Rod Gillis, education director at the American Numismatic Association. And I ‘d like to spend a little bite of time today talking with you about investors and collectors, and the difference between the two so that you can decide which one you want to be. Let ‘s start off with investors. You know, there are a lot of people who want to use coins as their way to possibly strike it rich people or possibly be able to have their retirement funded. And they want to know which coins they should buy and how to proceed. As a count of fact, I can remember, not besides long ago, I had a womanhood give me a call and she said that she wanted to take all of the money out of her retirement because she did n’t trust the dollars were going to be worth anything. And she wanted to know precisely what one coin she could buy to be able to fund her retirement. I remember sharing this fib with my wife at dinner and she said, I could n’t believe that I got that call cry. And I said, “ Yeah, can you believe that person wanted to buy just one coin ? ” And she said, “ No, I ca n’t believe that anybody would want to talk to you for fiscal advice. ” But anyhow, what ‘s important to understand is that we at the ANA are not fiscal advisors. So that is not what we do. So we ‘re truly not able to give you the information that you need. But just a few interesting kind of tips. Number one is that a lot of investors tend to want to buy bullion coins. And what do we mean by that ? Well, bullion coins are coins that are by and large have more measure from their precious metallic content than they do for the value that is stated on the coin. sol for exemplar, here in the United States silver medal eagles are termed bullion coins. They have quite a morsel more value for the content of silver that they have in the coin than they do for their dollar denomination. other examples of bullion coins around the global are swiss francs, Krugerrands from South Africa, french Roosters, these are all examples of bullion coins and a bunch of investors tend to go with those and hold on to them, so that at some point, when they ‘re ready to fund their retirement, they can liquidate them and there you go. The one thing that I do want to caution you about being an investor, we get a lot of elder citizens who call us and say that they have gotten call calls from companies and told them that they truly should buy amber right nowadays because there ‘s a estimable chance that at one point that the government will make buying gold illegal. And I in truth want to caution you about that. normally these companies do not have your best matter to at affection. There very is no reason for the government to want to confiscate gold, or make it illegal to buy because we are no longer on the amber standard. So there ‘s no reason for them to want to do that. so if you should get one of those calls, my advice to you is to stay aside. Those people are not investors, they ‘re not professionals, they ‘re salesperson. And I think it ‘s truly wrong for them to want to scare our senior citizens. so please stay away from that. Let ‘s spend a little bit of time talking about collectors. You know, collectors are people who want to assemble a coin collection and with not thus a lot of a concern concerning their value. now I do want to say that the money is significant when you’re purchasing coins because if you are able to assemble a solicitation prudently, then it ‘s nice that after you have finished with your collection and you wish to liquidate it, that if you assembled a solicitation cautiously, you ‘ll credibly be able to sell it for more than you primitively put into it. And there are n’t that many hobbies where we ‘re able to do that. So that ‘s a good thing.

however, a fortune of people when they begin collecting coins, they want to assemble a mass collection, they want to buy as many coins as they can because there ‘s constantly a impression that a bigger solicitation is better. And I want to caution you against that. When you buy coins, you want to purchase them cautiously to make sure that they fit in with your solicitation, preferably than just having a batch. And it ‘s important for you to understand that when you’re purchasing coins, as a collector, you’re purchasing coins because you like the mint. Try to steer aside from problem coins. You know, if you find a good cover on a mint, but you know that there ‘s a trouble with the coin, anytime that you look at it, your eyes are gon na focus in on that problem. so if there is a big rub, or there ‘s a big spot on the coin, even if you ‘ve got a fairly good deal on it, chances are you’re never going to be happy with it. therefore as a collector, when you’re purchasing coins you want to purchase the best possible exemplar of the coin that you can. You want the coin to speak to you, you want the coin to be very attractive to you and that ‘s why you want to buy it. You know, it ‘s important to understand, when you are purchasing coins for your solicitation that you do n’t necessarily have to buy uncirculated coins. One of the reasons that I enjoy collecting is that I ‘m a student of history. And thus when I see a mint that I peculiarly like, by and large it has a small bite of wear to it. It’s still an attractive coin, but there ‘s a fiddling act of clothing. And for me, that ‘s a dear matter. Because I like to think, “ Where has that mint traveled ? What has that mint bought ? Who are the people who have actually held that mint ? ” You know, it ‘s a conduit to history, and that ‘s what I enjoy about it. So you do n’t necessarily have to fall into the trap of buying coins that are strictly uncirculated, although you do want to buy coins a problem-free as you can. indeed just to recap. As a collector, we want to assemble our collection cautiously, we want to purchase coins that speak to us, that are identical attractive to us, and we want to be felicitous with our collection. You know, there are no rules in purchasing the coins. The ones that you like are the ones that you should hold. This is Rod Gillis, hoping that you enjoy your collection and we ‘ll talk again soon.

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