Whether you have inherited a collection or are considering an investment in precious metals, starting a gold coin collection makes a lot of sense today. Is collecting rare coins something that should be considered an antique pastime, one fit for the 19th century? Far from it – with the price of precious metals constantly on the rise, coins are a great investment and a fun way to spend your free time. Here are the biggest reasons why starting a gold coin collection makes sense today.
• The price of gold has quadrupled in the past ten years. If you look at other collectible markets, you might see fluctuations, highs, lows, and other indicators that alter the value of whatever the commodity is. Gold is different. It is a precious metal that will always have excellent value. Looking at the progress of the price of gold over the past ten years, you can see that it has more than quadrupled in value. If that doesn’t make for a good investment, it is impossible to say what does.
• There are ways to win even bigger in gold coin collecting. Though uncontrollable factors like price per oz are impossible to control, the type of coins you buy and savvy investment strategies can make you a big winner in the collecting game. Every collector starts out on the same page, but a disciplined strategy coupled with a dose of luck could yield big scores in collecting gold.
• It is a way to keep value in dollars. You only need to turn on the television and listen to politicians for 5 minutes to realize that the devaluation of the U.S. dollar is a reality. As the value of the dollar continues to drop, gold prices have gone in the other direction. Is it a coincidence? If so, it is hard to ignore the phenomenon. Buying gold with dollars instead of investing in risky funds is a way to hold or increase the value of your money in the future.
Once you factor in the unpredictability of currency markets and the ease of storing coins, it’s hard to deny that a gold coin collection is a great investment as well as a fun pastime. While you cannot expect another jump in prices right off the bat, gold has held its price for over 100 years. In a volatile world where every investment is questionable, it could be the smartest bet around.