The Pros And Cons Of Buying Gold Coins At Auctions

Coin collecting can be a fun and rewarding hobby. Currency has changed drastically over the centuries, and coins exist that are hundreds of years old. You don’t need a fortune to invest in old coins, nor do you need to dedicate large amounts of space to your collection. You can get started with just a few dollars, and if you make wise investments, you can even make a profit collecting coins.

The early dates 1916 to 1933 cost considerably more, and are considerably more difficult to find. Those take much more planning for financing, and are simply more difficult to find.

I’ve noticed, the average collector spends a limited amount of time reading about coins, and is much more likely to read articles than books. I enjoy reading books and other articles so I can speak to most collectors with information that’s fun to read. I do this rather than watch TV.

It’s important to find reputable honest dealers when shopping for gold or silver coins. Beginners especially should be wary of sellers offering deals that sound good to be true. Rare American custom challenge coins sell at market levels and not below.

The last half dollar silver coin made was the Kennedy half dollar. Currently there are no new half dollar silver coins being minted. Most collectors of the pre-1964 Kennedy half dollars are holding on to them. However, because there were so many half dollars in circulation, they are now considered “junk” coins by most collectors as they hold very little premium over face value.

You should also avoid coins that have paint, stickers or discolorations on them. Some old coins have a rainbow sheen and look pretty. This sheen comes from old storage methods, and most serious collectors consider it damage.

It goes without saying that a collector on a $500 per coin budget won’t collect many gold coins. Though it is possible, these low denomination gold coins will certainly not be considered rare.

Keeping the above tips in mind, it is important to remind buyers that whatever they do, they should always make sure that they buy silver coins from a reliable dealer. Buying these coins is definitely a wise decision since the value of the U.S. paper dollar is continuously decline, silver can prove to be a valuable, hard asset.