Gold Coins, Gold & Precious Swiss Watches & Rare Collections have a good intrinsic value but gains more antique value in a short period of time when there is only a limited edition of Products....
2007-03-10 23:06:31 · 4 answers · asked by mathilagath s 1 in Games & Recreation ➔ Hobbies & Crafts
The average person who collects coins as a hobby usually does well over time, if he stick to older coins, as well as key and semi key coins. Once he does a lot of reading, he will figure out what the gimmick coins are and what coins will be best to collect for fun and a small profit. Sometimes this small profit actually can get quite big over time. The high rollers can say, buy a real rare coin for $500,000 and in a year or so sell it for a million.. That is out of my league. The key to collecting and making money at the same time is to know your coins and be able to grade them. Learn the rare or scarce varieties of the series you want to collect. Gold coins are nice but the prices on all but the rarest, depend on the price of gold and it goes up and down.
2007-03-11 08:48:25 · answer #1 · answered by Taiping 7 · 1⤊ 0⤋
I started coin collecting when I was about 8 years old (1972) soley as a hobby (along with stamps)... my Dad would buy us the lil books for pennies, nickels and dimes. We'd also collect foreign change from friends and family who travelled.
I collected coins regularly until about 18 years of age... and of course earned my Coin Collecting merit badge in the Boy Scouts. It was a history lesson, economy lesson, and hobby.
In 1999, after 15 years in the Navy I found all my collections intact at my parents home... I took them in to have them appraised... and immediately secured them in a safety deposit box !! My coins are worth about $40K and my stamps (my favorite) are worth about $200K.
No gold, no fancy watches... just COMPLETE collections of US coins and stamps from 1920 - 1985. Only a few of the Mint-products
2007-03-11 05:55:56 · answer #2 · answered by mariner31 7 · 2⤊ 0⤋
Those who are starting it as a hobby will not turn it in to a business atleast in a short period. They may make it as a business when they would like to drop it as a hobby.
2007-03-14 20:04:37 · answer #3 · answered by tdrajagopal 6 · 1⤊ 0⤋
Start it as a hobby..............
And very soon .............. it will become a Booooooming business................
We Indians do anything and everything for ..... business.
2007-03-10 23:21:09 · answer #4 · answered by surez 3 · 0⤊ 0⤋