I'm astounded by the massive increase in value of the Proof issue Pandas. Only a year ago I could pick up nineties series proofs for around the $2-400 mark. Now I see them regularly trading around the $8-900 region. Unfortunately my wages haven't increased by 100%. This means I now have to concentrate my efforts on the BU Pandas. With this massive exponential growth we may soon see the affordability of even the BU versions out of reach within a couple of years. This makes it somewhat of a headache to insure my coins. Hypothetically - How do I explain to my insurer my collection is worth $50K at the moment, but next year I expect it will be worth $100K ?
here in the US most insurance companies (mine for sure) mandates an itemized list of values (appraisal) from a certified coin dealer
Not sure how you would insure it, how do you insure silver bullion when it can be $45 or $30 or $50/oz in a couple of months? Or a house which can double in prices over 5 years? Insurance, bah! Pandas are my insurance
Bury them, old school style! Oh that's a different topic, sorry. Insurance, interesting... I don't currently have any for my coins, hasnt crossed my mind to be honest. OOOOPS?
Many collectors do insure numismatics Many things of value are insured homes, cars, bullion, human life, diamond rings, numismatics, rolex watches, etc I do it for peace of mind for the very low cost of insurance I feel it's worth it ... others do not. It's one of those "preference" issues but I understand your position and why you and others would not.
Oh I've got insurance for a lot of things, its just harder to get decent insurance (if at all) for coins and precious metals that's all. At least down here it is. And I was being sarcastic with the house prices thing
