The Heritage Auction Galleries’ Central States Numismatic Society Convention Platinum Night Auction has turned out to be quite a show. Besides the “King of Coins” 1804 Silver Dollar going for a cool two point three million dollars, several other incredible rare coins have gone up and been sold for some nice fetches, as well.
The legendary 1807-S Seated Dollar, the rarest regular silver dollar in existence, wound up selling for about a half a million dollars, The sixth finest known example of a 1794 dollar went for a half million as well, a twenty cent piece from 1876 went for four hundred sixty thousand, a 1794 silver dollar went for three hundred forty five thousand, and a 1795 Flowing Hair dollar sold for about a quarter million.
The total sales of the auction, as of the most recent report, came out to a nice forty five million for combined rare coin prices.
Two million for a coin may be out of the price range of many investors, but we know that there are at least a few people reading this who could easily place a competitive bid on one of the big-ticket items on show at this auction. So while the rest of us who buy rare coins, as an everyday investor may have to stick to the slightly more common coins, if you do have the money to invest in the real rarities, you’d be wise to seize upon the opportunity to do so.
Again, when you buy rare coins, they do not somehow become less rare or less valuable, so to buy rare coins is almost invariably a smart idea. If you want to know the secret of how to buy rare coins, it is simply this: Know what you’re buying, know the history, the artwork, and buy the rarest coins you can easily afford. We have many more Rare Coins Investing Help Articles Now Available.
Between auctions, the price of a particular rarity almost always tends to go up. At times, the growth is marginal, but other times, a coin may be reassessed at a later date and turn out to be twice as valuable as it was previously believed to have been.
Of course, on the other hand, you may simply be comfortable enjoying a few good rarities in your collection while putting the majority of your coin money into the $20 Lady Liberty 22 karat gold reissues for investors. Whichever way works for you is fine. In any case, you are protecting your assets against any crisis such as a recession.
It’s certainly a good idea to get involved in rare coin collecting if you hope to build a strong foundation for your investments. And even if you can’t make it to Cincinnati every time Heritage holds an auction in the area, it’s still smart to keep up on the new developments at these auctions and bid online, as the final bids at the major auctions tend to have an impact on coin prices at large. In any event, just make sure that you have a way to keep yourself in good financial shape no matter what happens. Be it bars or coins, just know that you’re covered through this recession and the next one. We have many more Investing Help Articles Now Available.