Recently I was asked the question: “Do you consider coin collecting and investing to be mutually exclusive?” My first thought was what a loaded question! As we are still in the midst of our 2022 Summer Global Showcase Auction which featured every collecting specialty under the sun, I felt it was a perfect time to look at the profitability of current trends.
Unfortunately, if you were collecting State quarters, the answer is more “yes” than everyone had hoped when the State quarter program rolled out. The State quarter program championed by our own Harvey Stack inspired entry level collectors and gave all of us some excitement when we found a particularly hard to find state in our pocket change. But in the end, the majority of State quarters are still worth 25 cents.
However, if you are talking about classic numismatic collections, our recent auctions have shown that carefully acquired material assembled with patience and a meaningful plan can provide a welcome return. The old adage “Patience is a virtue” is the important consideration. It is not usually the case that you can build a meaningful collection and turn it for a profit in a short period of time. The recent sales of The Haynor Virginian Collection, The Syd Martin Collection, The Georgia Gold Rush Collection, The Augustana Collection, The Jones Collection and others that crossed the block in the last two weeks and set record prices, demonstrated the benefits of patience and a solid collecting plan.
Numismatic collecting is enjoyable, entertaining and educational. Take the time to find a series that fits your budget and that is appealing to you because of its design, history or some other aspect. Then take some additional time to learn about the series or find a trusted advisor on our staff to get you started. Let’s remember that the Mint is not adding to the population of Buffalo nickels, Mercury dimes, Standing Liberty quarters, or Walking Liberty half dollars not to mention classic commems, early gold, colonial coins, or large size paper money. Building a classic numismatic collection can bring you hours of fun and maybe a little boost to your wallet when it comes time to sell. Enjoy!