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From: barr@calma.UUCP (Ken Barr)
Newsgroups: net.invest
Subject: Re: Investment Coins
Message-ID: <119@calma.UUCP>
Date: Fri, 3-Jan-86 17:04:58 EST
Article-I.D.: calma.119
Posted: Fri Jan  3 17:04:58 1986
Date-Received: Sun, 5-Jan-86 01:18:03 EST
References: <23300005@uiucuxc> <643@cylixd.UUCP>
Reply-To: barr@calma.UUCP (Ken Barr)
Organization: GE/Calma Co., R&D Systems Engineering, Milpitas, CA
Lines: 51

In article <643@cylixd.UUCP> dave@cylixd.UUCP (Dave Kirby) writes:
>In article <23300005@uiucuxc> rcook@uiucuxc.CSO.UIUC.EDU writes:
>>
>>What I want to know is:  what is the best way to go about collecting 
>>coins for investment purposes? Is there a good book to read?
>
>           You are basically safe if you stick with reputable dealers
>and the MS ratings. That way you don't have to learn how to examine
>coins yourself (although it never hurts to know how to double-check
>the dealers).
>

Oh, were it that easy!  Speaking as a part-time coin dealer who OFTEN is  
offered someone's "prize investments" at coin shows, I can attest to the
following two facts:

	1)  There are no reputable coin dealers (except me, of course! :-))
		(Seriously, this means that NO dealer has UNIVERSAL
		recognition as a "good guy".  Some coins seem to "gain value"
		based on who sold it, but this is extremely rare -- usually
		only when the dealer is the author of a standard reference
		book on the subject.)

	2)  If you don't know how to examine (evaluate) the coins before
		buying them, you are going to get stuck.  (Maybe not the
		first few times when the seller is "hooking" the uninformed
		investor, but almost certainly the last few times ---- often
		as the seller is finishing his dream house complete with 
		moat in the Oregon wilderness!)

Few people are able to resist the opportunity to make money when someone
comes up and says "Here's xxxxx dollars ---- I want you to sell me something
and I trust you to give me a good deal".  This applies to coin dealers just
as it does to stockbrokers, real estate agents and used car dealers.  My
standing recommendation re investing in coins is to invest the time and effort
in researching and understanding coins before committing any large amounts
of $$.  Buy books ("High Profits from Rare Coin Investments" by Q. David
Bowers), read newspapers (write "Coin World, P. O. Box 150, Sidney, Ohio 45367"
for a free sample copy), go to coin club meetings in your area, attend coin
shows, talk to other collectors, etc.  THEN, when you are comfortable in your
understanding of the area, start an informed collection/investment program.

Common sense, but often ignored!  'Nuf said.

-- 

Ken Barr		{ucbvax,sun,csd-gould}!calma!barr
Calma Company		calma!barr@ucbvax.ARPA

Disclaimer:  Calma lets me use their computers and their mailstops.  Unless 
	     policy has changed, my opinions should not be considered as gospel.