How can I make money as a coin collector with no experience or knowledge?

8개월 전

Coin collectors don’t make money by collecting coins - they make money when selling all or part of their coins; sometimes to profit, sometimes to liquidate part of a collection, sometimes to pay bills.
Collectible coins are an accumulated or acquired asset.

You are in a position to make money with coins when you can sell them for more than what you paid.
Most collectors (myself included) have a fondness for coins and collect for fun. If you approach coin collecting as a business, You can make money, but you need to learn the market. Your coin collection becomes inventory, you need to manage it, track your costs, advertise, and buy and sell to build up your business. Some coins may have value but not sell well; a downturn in the market may cause a downturn in your business.
If you are truly interested in coins as a business (and you need to treat it as such) I would suggest educating yourself as to what coins can make a profit, which coins sell quickly vs. sit on a shelf, and what kind of investment you want to make in your coin business.Making friends with a local coin dealer, and going to shows is also helpful - their experience and advice can be invaluable.

To read the full story, with Attribution, go to https://pocketchangeriches.com/blog/2019/04/11/how-can-i-make-money-as-a-coin-collector-with-no-experience-or-knowledge/

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It depends on your intent. If you are merely collecting coins for fun, making money is never the concern. However, if you intend to preserve your wealth in case the global financial system blows up, you should stock up your gold and silver coins/bars/bullions.