subject: The Way to long term coin collections [print this page] The Way to long term coin collections The Way to long term coin collections
Most big-name coin collections were formed over a long period of time by people who had a clear vision of what they wanted to accomplish. By approaching coin collecting with the same attitude, your experience with coin collecting can be just as enjoyable and just as successful as anyone else's.
Two areas are of primary importance when developing your long-term view: price trends and opportunities. If nothing else, these two areas offer hope for the collector who may otherwise decide that finding certain coins seems impossible. Patience may be its own reward, but a long-term view in coin collecting can make or save you money and open opportunities that are most certainly real and possible.
Long-term price trends
Looking back at the history of coin collecting, you'll see a general upward trend in coin prices. Just like everything else in the world, coins cost more today than they did 50 years ago. Down the road, you can expect higher prices than today.
As you set your collecting goals, plan for future price increases and determine whether you can afford to finish what you've started. Keep in mind that there may be some wild swings along the way hot markets, where the coins you seek will seem out of reach, followed by cool markets, where the coins you collect will seem like bargains.
Long-term opportunities
The longer you're active in collecting, the better your chances are of acquiring the rare coins you need. Sometimes the opportunity to purchase a coin is rarer than the coin itself, so you must be patient and ready to pounce when your coin finally appears. Never assume that a coin is locked away forever. Who ever thought that Johns Hopkins University would sell off the Garrett collection? Who suspected that we'd ever have a chance to bid on coins from Byron Reed's collection or from the Joseph C. Mitchelson collection? We simply don't know what neat collections lurk around the corner. But the fact that strong hands have sold their coins in the past gives us hope that others will do the same in the future.
