Everyday collector the heart and soul of our hobby.
by David Albanese
Well now that the summer ANA is past us, and records we shattered in the sale of the 1933 Saint Gaudens $20, for the sum of $7.59 Million dollars!!!! And along with that many other record setting numbers on other type coins. It appears that coins are the place to be right now. Along with what has happened to the stock market over the past year or so great coins appear to be a safe haven for investors. I have always felt that great coins belong in most investor's portfolios. Always follow the three basics when you purchase coins Rarity, Eye Appeal, Affordability. Always look for the rarest coin that fits your budget. Never get talked into just any coin. If you take your time and do your homework you'll find that just right coin. Eye appeal is everything as there are so many not nice coins out in the market place. We at Albanese Rare Coins, Inc. never buy a coin just because the price is so tempting as the golden rule usually applies here when it sounds to good to be true it usually is. What I try to tell clients is, It's not quantity but quality that counts if you can only buy one really rare beautiful coin a year that is the way to go and it should be money that is not earmarked for other issues.
I really feel that the coin market will experience a great resurgence with many new faces appearing. I have felt along that there is already so many new collectors out there because of the power of the Internet it's hard to fathom the correct numbers. I feel that what we will experience is a smooth move upwards in pricing, one that will not mushroom so fast as to chase the everyday collector out of the market as I feel that would be a disaster if that happened. The everyday collector/investor is the heart and soul of our wonderful hobby Numismatics! When the market gets super hot it brings lots of money in to it just with the sense that their looking to make a fast score and get out the history and all that goes along with coin collecting is lost in the haste of money making. Now I also feel many dealers hype things up to be more than they really are just because they want to sell more coins which from a business stand point is fine as we all have to make money to stay in business.
So always enjoy coin collecting for what it really is and hopefully with buying the right coin at the right price you'll see some good returns on your investment. Always work with a reputable dealer who takes spending your money as something serious to be most of all a win, win situation for both him and yourself. Being very conservative when claiming a hot market is upon us, I do feel that we are in a very healthy time in this industry. Coins of high quality and rarity are a much safer place to put your money than some stocks and the present market can attest to that fact. Please, if you have any questions or concerns please feel free to ask either by email or phone. We are here to serve you the collector!
David Albanese is a Nostomania advisor and can be reached at his outstanding web site.
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