“Buy the best you can afford” is a sound strategy for collectors of nearly any rarity, but is particularly important with US coins, ancient coins and US currency. Also, as simple as it sounds, never forget that rarity is of critical importance to long-term value.
Since 2008, the coin market has done well compared to other financial markets. However, the increase in value of common coins has been driven almost entirely by the increase in gold and silver values. Common copper and nickel coins have languished or decreased in value while rare coins of high quality have skyrocketed in value.
To stay abreast of these trends and learn about the underlying causes, subscribe to the population reports at PCGS and NGC, and follow auction prices of rare coins online at the major internet sites and auction houses selling rare coins in West Michigan. A knowledgeable collector will be able to understand why two similarly graded coins might sell for far different prices. Many coins sell for less than Coin Dealer Newsletter bid prices while others sell for far more. Knowledge is “king” for any collectible, but again, particularly important for coins and currency.
Always try to buy PCGS-and NGC-graded US coins and look for the CAC sticker as further evidence of quality. Just be aware that only a small percentage of graded coins have been submitted to CAC, so there are still many nice coins to be found at West Michigan coin dealers and elsewhere without the CAC sticker. Study grading on all ancient coins carefully since high-quality examples are much rarer and in much higher demand.
You will pay a higher price for a rare coins and currency of exceptional quality whether buying online, at a show, or from a Grand Rapids coin dealer. But when the day comes for you (or your estate) to sell that item, it will be much easier to sell and should bring a premium.
Examples of high quality rare coins and currency:
Currency – $10 National Bank Note – The Old Grand Rapids National Bank – Grade = PCGS 64PPQ
US Coin – 1879-CC Morgan Dollar – Grade = MS64PL CAC
Ancient – Arsinoe II, Wife of Ptolemy One-Mina Piece – Grade = Near Mint State