Was in Strand Coins in Sydney on Tuesday eyeing some Dumps in the window. Gotta get some numis again one day.
Thanks ouch, I get Belinda Downie's stuff regularly (not the coins just her catalogues ) but I'm concerned that if you invest say $15000 in a florin, that when GFC2 hits, the arse falls out of the numismatic market. What do you reckon?
I have no idea. I'm not into numis myself but after reading that article like GP I'll be out looking at the numi stuff. I suppose in another GFC the value in numis would drop as with all other assets but if you didn't have to sell your collection it would come out the other end holding its value well in comparison to other asset classes as was the case for the 1930 proof penny after GFC1.
My concern ouch is how long will you have to wait until there is enough big money out there looking to gratify themselves through purchasing a rare and precious item. Numismatic coins are the same as pieces of art (I think Belinda Downie said that), if you've got enough money and a fantastic income stream then your mind wanders to purchasing that which gives you a bit of a buzz, in the hope that in the future like-minded people will buy it off you at at a profit to yourself. If you don't have lots of money and a fantastic income stream, then plain old bullion makes more sense. At least it retains it's value compared to other assets in the long term (CGT aside).
Yes, numis aren't for everyone. The article does mention its a form of inter-generational wealth transfer much more than as a quick flipper like the Lunar Dragons. For now I'm stuck with my droll kilo PAMPs.
Inter-generational wealth is something that I'm seriously considering. Lecture time - I believe that we have forgotten the importance of setting our children up in life. The "I'm spending my grandkids inheritance" paradigm is only a baby-boomer mindset that may well be at the root of our selfish, self-centred "user pays" society. Anyway, I digress - thanks ouch.
Isn't that what the whole economy has been based on for the past 20 years or so? Not just spending the kids inheritance, but the grandkids and everybody else who comes along after as well. On a personal level AND in many places a government/country level.
I can't help but feel that alot of these numismatics are just going round and round in a small circle of people - it's like musical chairs and I'd hate to be the one without a seat when the music stops.
