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Building a Nest Egg
By Harry Miller, Coins Magazine
October 11, 2013

This article was originally printed in Numismatic News.
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Social Security payments will likely be adjusted higher by less than 2 percent this year to reflect adjustment for inflation. Some believe the official rate of inflation is far higher owing to how the index is constructed. Shadowstats.com says inflation is running at 9.6 percent. It is not surprising that many people are looking for ways of protecting their incomes and assets.

One thing that can be done to help and have years of enjoyment besides is to create a coin collection. Like any investment this requires knowledge and the help of an expert or mentor. Never assume that your knowledge is superior or that your expert is superior. Always test them occasionally. The test is simple. Once or twice a year take an item or two that you have chosen along with something your expert has recommended and attempt to sell them to a legitimate buyer or several buyers.

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Now don’t expect to get retail offers. You won’t, but you will get a feel for the market and truly know if your judgment and your favorite experts are sound.

What should you collect for this nest egg? The best items are the traditional popular series such as Morgan and Peace dollars, Lincoln cents, Walking Liberty half dollars and gold type sets. If you are inexperienced, start with something like silver Eagles. They are easy to collect, but don’t chase promoted high-grade issues on anything. You will often see certified MS-69 silver Eagles at two to four times ordinary BU prices yet if you go to sell them you will often get offered the same as non-certified coins or just a few dollars more.

If you don’t want to do the work, you will not reap the same rewards as others who do. If that is the case, then stick to only certified coins from the better grading services. The more effort you invest, the more your investment will bring for you or your loved ones.

 

 

More Coin Collecting Resources:

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• IT’S HERE! Order the 2014 North American Coins & Prices.

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• See what guides and supplies our editors recommend for keeping up with your collection.

 



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