Wouldn't it be fun to collect coins again like we did when we were children? That just might be possible as the price of silver continues to drop. Yes, silver is no longer selling at $20 an ounce, and that may be good for the collector.
You see, when the price of the base metal gets too high, the numeric value doesn't equally increase. That means, when the silver market is headed lower, you can get more bang for your buck with the rarer coins.
If you have read my book, "31 Steps to Your Millions in Antiques and Collectibles", you’ve probably seen my story about how I was able to pay for my college education by selling my coin collection. This would be a great time to introduce your children to the fun of collecting, and where better to start than with coin collecting.
If you decide to begin collecting coins, make sure you don’t buy coins that won't appreciate due to the fact that everyone thinks they will. Millions of those pieces are set aside to wait for the big jump in price. I’m fairly certain that jump isn't coming. For example, I put the state quarter sets in that category.
You will find great pleasure in working at completing sets of pennies, nickels, dimes, quarters, half dollars and silver dollars. Once you do that, the next step should be to upgrade pieces in your collection. Often by selling a particular coin, you may be able to purchase a higher grade coin with the proceeds of the sale, because of the price you paid for the first coin.
I make my living buying and reselling fine antiques and collectibles, then compounding my profits. I teach others to do the same, but that doesn’t mean we don’t have our own collections of goodies. If you’ve read my book, you’ll know how you could acquire your own collection of fine items at no cost. Starting with coins as an example, you’ll often buy multiple coins at one time. Let’s say you purchased one hundred silver dimes for $30 and you sell ninety of them for $100 and set the balance back to start your collection. What have you paid? You may that your collection could pay for college or a down payment on a house someday.
The wonderful thing about coins is that you may find a special one that can sell for a significant amount. In fact, in my collection, there were coins that I had paid face value for that when sold, brought $500 to $1,000 back in the 1960s.
The best way to start buying coins is to let everyone know that you want to buy. Almost everyone has a stash of coins they have collected or coins that have been given to them by a parent. When you tell them what their worth is today, most will want to sell them.
There are great guide books on coins and they can be found by going to www.abebooks.com or www.amazon.com. I have run across a site that should be of great interest to you if I have caught your interest with coins. The website is www.silvercoinand.com
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