Coin collecting was a hugely popular hobby in the 1970s, but since then its popularity has waned—so is coin collecting now a hobby or a form of investing? Scott Travers, gold and rare coin expert and author of The Insider’s Guide to US Coin Values, says that now it’s a good idea to purchase coins whose costs are very close to the melt value of the metal in those coins. Historically, the value of coins was greater than the the value of the metal in the coins because collectors drove up the value. But now there are fewer collectors, so these coins have declined in cost, allowing consumers to purchase them without paying the additional collector’s premium. So collecting and investing now go hand in hand.
Scott A. Travers is one of the most knowledgeable and influential coin dealers in the world. He has authored 7 best selling books on coins, including “The Insider’s Guide To US Coin Values.” For more great tips from Scott, check out his other videos at Bottomlineinc.com, his website, or purchase his latest book, The Coin Collector’s Survival Manual.