Rare Coin Investments
There’s a lot of talk about the fact that gold and other metals have seen a big boost in new investors throughout the last few years thanks largely to the recession and the events leading up to the situation we currently find ourselves in. As the dollar took a nosedive, people turned more and more to options like gold to keep themselves safe.
What gets a little less talk in the media is the fact that rare coin investments saw some all time highs over the last few years, as well.
Simply put, rare coin collecting used to be considered something of a hobby for “nerds”, obsessing over rarities and minting errors. Even up into the late nineties, even if your rare coin investments were worth millions, rare coin collectors were the Star Wars convention attendees of the investment world.
Well, opinions have softened a bit since then. This recession has proven something to American investors: You have to go with what’s smart, not simply what’s popular.
Ten years ago, stocks were the hot property for investors. In recent years, however, stock investors are jumping ship faster than you can blink. This isn’t to say that stocks aren’t, generally, a valid investment option, but if you’d chosen to put all of your savings into stocks back in 2002 and keep them there even once the tides started to turn against them, you’d be flat broke right now.
Rare coin investments are exciting, if you’re actually a coin buff and are as interested in the history as you are in the value of the coins, but the main thing that has them rising in popularity in these times is this: Rare coin investments are relatively safe in comparison with just about any other investment option out there.
Gold is always a great investment choice, but it tends to peak during a recession. Rare coin investments on the other hand don’t really have peaks. Their value tends only to climb and climb in rain or shine. In fact, when people have more money to spend during times of ease, you can certainly expect them to bid a little higher on rare coins, likewise.
So while rare coin investments were long regarded as a niche investment option, or merely a “hobby”, it seems that the numismatists are having the last laugh. Rare coin investments have always been a strong, solid option and now more and more people are realizing this and getting into the market.
If we can hope for something, it is that these new numismatists will share the same appreciation for American history that many coin collectors have. It’s not just about how much the coin is worth, but what the coin signifies that is important. Collecting the stories can truly be as rewarding as collecting the coins themselves.
…Unless you manage to snag one of those coins that goes for a million dollars in a single auction. In that case, forget the story, go ahead and take the million dollars.
Arthur McGuire
Jul 12, 2009
