Numismatics - Coins, prices
In order to secure their savings and still earn money, many people decide to invest in something. There are many possibilities, but recently we have decided to use precious metals more and more often. Certainly, a very safe way is to buy gold bars or standard investment coins, but it is also becoming more and more popular to buy collector coins.
The reason is simple - you can make much bigger profits! It is worth remembering, however, that a higher income is also a higher risk, so we can also lose a lot. To protect yourself from this, you need to know what to invest in and just how to get started so as not to get burnt? Here is a short guide that should explain a lot!
Numismatics - Coins
It is particularly worth investing in coins weighing 1 ounce (1 oz = 31.1 g). They are simply the most standard and therefore the easiest to sell them later. Of course, in the buying process some people will come across other sizes - even coins of kilograms - but it is not worth wasting time and money on them. First of all, because in the case of standard coins it is easier to verify their authenticity, and it is a guarantee that nobody will cheat us and sell us counterfeits.
Numismatics - Prices
Very important information for all those who want to start their adventure with numismatics concerns prices. First of all, the general caution is not to overpay! The price of the coin should not exceed the spot price by more than 20 or 30%. The spot price is the global silver price, which must be known before buying. For example, if you like a coin that costs 50 dollars while the silver price is 30 dollars, there is no reason to invest - we just overpay! In this case, even an increase in the price of silver by 10 dollars means adding to the business. That's why you have to be very careful not to overpay.
Known numismatic coins
In order to have a better chance to sell your coin in the future, it is worth choosing the more famous ones - coming from popular mints and sought after by collectors. It is best to choose goods from Australia, Canada, USA and China, with the Australian Perth Mint (Lunar series) always being the top ten.
Numismatics: silver coins, gold coins
It is worth choosing either silver or gold coins - not mixed. Why? Because first of all one invests in bullion, and all ornamentation (gold plating, silver plating) is only fashion, which does not translate into earnings later on. However, it is always worth choosing the coins that we like - if they stand out with something special, they can be searched for. Such coins will always find buyers, but let's remember that they will be mainly men, so coin designs should also be rather masculine.
Numismatics - how to get started?
In order to make a profit, you need to know how to navigate the coin market. First of all, let's not be crazy before we get skilled. When it comes to shopping, let's also not spend all the savings on one type of coin, even if we particularly like it. What is it all about? For example, not to buy 100 silver coins with a Grizzly bear, but rather to divide this quantity into several different series, buying 30 Grizzly, but also 20 elephants from the African Wildlife series, 30 with an image of Koala teddy bears and 20 others. In this way we will increase our chances of earning money, and the investment will certainly pay off (or at least it will pay off, so we will not lose it!).