($100 of Collectible Coins)
Investment Idea: $100 invested in collectible coins.
Total Investment: $100
Total Time Cost: 00:01:00
Extra Costs: $0
Total Time Spent on Investment: I spent over an hour talking to the owner of a local collectible’s store, as well as some time running to the ATM to withdrawal cash for the investment. This investment was bought at the same time as my investment in Morgan Silver Peace Dollars, which you can read about here.
Research and Preparation: As far as research goes, as a child I had been given mint sets of coins every year for Christmas by a family friend. I knew some coins were really collectible but I a lot weren’t, especially since most batches of mint coins were made in issues of millions making them worthless as far as rarity go, so a lot of the collectible coins value comes from the content of the coins i.e. what metal is in it. While I had stumbled into a collectible coin store in my town, I had offered a deal for four Morgan Stanley dollars for $25 (below their market price) but as a condition of the deal I would buy some other coins worth $100, so that way I would spend a total of $200 for two different investments.
The owner of the store Howard, when I told him what I wanted to do selected a couple of combinations of coins for me to pick from to get the value of $100 I needed.
He ended up putting in front of me a 1993 United States Silver Proof Coin Set. It was a pretty standard set of coins, containing a penny, a nickle, a half dollar, a quarter, and a dime. The special part of this set was the fact that the half dollar, quarter, and the dime were actually made of silver instead of their standard metals making them exceptionally shiny and worth more than a regular mint set. The whole set was then sealed in a case that comes in a box, see below.
(1993 United States Silver Proof Coin Set Box)
(Front of the 1993 United States Silver Proof Coin Set)
(Back of the 1993 United States Silver Proof Coin Set)
Uncirculated coins mean it was never used in my case Howard had taken out a graded 1883 Morgan Peace dollar. It had maintained an eerily perfect appearance even though it was over a hundred years old. The grading process costs about $15 per a coin, and makes the graded coins worth more than just the standard “melt” price I would get for my circulated Morgan peace dollars from my other coin investment.
(Front of the Graded 1883 Morgan Peace Silver Dollar)
(Back of the Graded 1883 Morgan Peace Silver Dollar)
Reason for Investment:
As economic uncertainty continues and people flock to more physical investments the coin market has been booming. It is now a $5 Billion a year industry.
To find an up to the minute price of this investment and my other investments click here!