Hello everyone,
I have just started to invest in some coins , but the budget is very low , only about 10 dollars(incl. shipping). I would like some suggestions for what coins you would recommend in this price range.
Regards,
Goutham
Hi there! I am an inexperienced collector with an interest in a lot of coins
When you say “invest”, I suppose you mean you want to acquire coins which will gain significant value in the next 3-10yrs. There are three kinds of coin groups that would fit this
The first group are coins that already have intrinsic value through their metal content such as silver/gold/platinum. You can buy bullion for instance with a bet that the price will go up in the future
The second group are coins of base or precious metal that have known numismatic value. These are coins that are scarce in relation to the demand for them, so they could be ancient or relatively modern as well
The third group of coins are modern coins that are quite common/easy to find now, but may for some reason become extremely scarce in the future.
Of these three groupings, you obviously cannot afford the first two with $10 which leaves you to take your chances in the third group. In my view, that’s an extremely inefficient way to invest money. You’re better off investing that monthly $10 into an indexed link fund/ETF with a robo adviser and let the money grow with the stock market. For instance, if you invested $10 per month into a fund that tracks the S&P500, over the last 12months, you would have got upto a 75% ROI
If you want to make a good investment, I would advise against large lots of modern coins. Most are extremely common with mintages in the hundreds of millions and will never be worth anything.
I would instead recommend coins that already have a high numismatic value. However, that might not be possible on your budget but you can look around for good deals. Although it takes lots of time and dedication, you'll eventually find something valuable for cheap.
That advice is only for if you want to make a good investment. If you want to enjoy coin collecting more, I would actually recommend bulk lots. They are fun to search through and you learn about lots of different types of coins. If you are looking for individual coins on the other hand, it will be tedious on a low budget (but you'll still learn a lot).
Quote: "AgIsSilver"If you want to make a good investment, I would advise against large lots of modern coins. Most are extremely common with mintages in the hundreds of millions and will never be worth anything.
I would instead recommend coins that already have a high numismatic value. However, that might not be possible on your budget but you can look around for good deals. Although it takes lots of time and dedication, you'll eventually find something valuable for cheap.
That advice is only for if you want to make a good investment. If you want to enjoy coin collecting more, I would actually recommend bulk lots. They are fun to search through and you learn about lots of different types of coins. If you are looking for individual coins on the other hand, it will be tedious on a low budget (but you'll still learn a lot).
I have narrowed my choices to 3 coins, although they aren’t in sets. They are a Mercury dime for 5 dollars, a 1893 Threepence also for 5 dollars and a 1904 2 Anna’s coin for 7 dollars. I have also shortlisted some non-circulating coins to buy in the future, when I expand my budget. Which one of these(other than the latter) should I go with?
Regards,
Goutham
Hi there! I am an inexperienced collector with an interest in a lot of coins
The idea of investment could be understood in a broader way. You can spend the money so as to improve your situation in the future, or not even your personal situation but the life of your community or the mankind etc. For example, think about learning, improving your health, or other ways of making your future happier.
Quote: "ashlobo"[...] You’re better off investing that monthly $10 into an indexed link fund/ETF with a robo adviser and let the money grow with the stock market. [...]
Somewhat offtopic question: Is that possible without paying any fees? (Given the fact that the questionee is from India.)
Quote: "ashlobo"[...] You’re better off investing that monthly $10 into an indexed link fund/ETF with a robo adviser and let the money grow with the stock market. [...]
Somewhat offtopic question: Is that possible without paying any fees? (Given the fact that the questionee is from India.)
well he can invest into the NSE/BSE. Even in the height of the tragedy that is unfolding there, that stock market continues to rise.
There are of course fees depending on the broker you go with, but you can choose a passive investment strategy and fund and keep your fees low. Buy coins from eBay and paying shipping; then spending money on storage and accessories are similarly corresponding fees and proportionately much larger as a % of the coin’s value (especially for the low value coins he is talking about)
