I’ve been a coin collector for 40 years and like many, I buy coins as a hobby. I enjoy collecting cool coins and adding to my collection. If they happen to increase in value, that’s great, but it’s not why I collect them.
I disagree that a coin will not increase in value based on metal value. With gold or silver coins there is a collector value and a built in metal value. A Morgan silver dollar is 90% silver. Let’s say the collector value is $50 based on it’s date and condition, irregardless of the silver value. IF, and I say IF (for example only), the silver value increased to $500/oz, the coin could be worth $50 (collector value)+$450 (90% silver value)=$500. If silver decreased to $1/oz it would still maintain it’s collector value…
People buy collectible coins because they enjoy looking at them. Similar to a stamp collector. We collectors want to have every coin made (denomination, date, mint, etc). The better the condition, like a certified perfect MS70, the more pride with our collection.
If you enjoyed this post, please share and comment below.