Expert: PAPAJACK - 2/23/2009

Question
i'm interested in buying a older coin (mid 1900's or earlier)and was wondering what key date coin i should look at. in your opinion which key date will show nice price increases over short and,or long term.(i can spend up to $2000) thank you very much for helping me

Answer
Hello Pat,                               

I do not see coins as an investment. You really have to want the coins and appreciate them for what they are. Then you will find others that feel the same and will pay a price to get them from you.

There is no guarantee of any going up in value over a short term.

Only luck “or a fluke” will cause a coin to say double in value in a short term. Perhaps one of the 2008 Gold First Lady coins will do this. Perhaps due to something like a majority of an issue was melted when the price of gold shot up. This would leave so many less of the same coins available for collectors to buy.

Even if you buy a very rare one now many may be found and flood the market in the future. This would result in the rare coin becoming common.  

The only rule is;
You always have to buy the highest grade you can get for the amount you can spend!
There may be a wait of a few years for this coins value to appreciate but it will.

There are many safe bets in coin collecting but as I said they are usually considered a long term investment.

Buying classic U.S. gold is a safe bet in high grades certified and guaranteed by PCGS or NGC. The gold will likely rise in value over time but the rare U.S. coin definitely will.

Look at this site.
http://www.pcgs.com/prices/

Last week 2/14/09 1342 US Coin issues rose in value and 544 coins went down in price.

You can see this years coins that went up in value at;
http://www.pcgs.com/prices/AllChanges.aspx?period=1 year&direction=gain&category=0

You can see this years coins that went down in value at;
http://www.pcgs.com/prices/AllChanges.aspx?period=1 year&direction=loss&category=0

Look over the site and feel free to write me back with any questions.

I do hope this information will help you decide. There is a lot of information here for you to digest.
And if you walk into some coin dealer I am sure he will have a coin “guaranteed to rise in value” to sell you just be careful.

Good Luck

PapaJack