Coin collection turns to investment

One of his own early collection was a 1799 Gold eagle also known as a US$10 gold coin and it is worth $22,000 each now.

"I am sorry that I sold it just over 4 years ago, now it is worth 3 times, or about $22,000," he said.

For the most expensive coin in his collection, he said there was 2 coins that he is not sure of the price in the market but he expected they could be the best in his collection.

"One is a 1958 Proof Indian Head Penny, also referred to as a Pattern Coin.  That means the coin was produced by the mint the year before issue.  There were so few made, that the price is not accurate, since one is maybe sold at auctions every 3 or 4 years, sometimes longer," he said.

"The second coin, a 1793 cent of the Strawberry Leaf variety in very poor condition.  Even though I believe it to be a true and valid specimen, it has yet to be certified by a grading agency.  Only 4 known specimens have been discovered, this would be number 5."

The 1793 half cent red book 2009 edition EF40 and the 1799 $10 Gold Eagle were the second most precious coins in his collection and they are priced at $20,000 each, he said.

Ross reckoned that he has around 4,000 coins, less than 100 are classified as Highly Liquid Certified Rare (HLCR), in his collection.

"All the 4,000 coins are of most all types of denominations, although I do not have every type of coin produced by the US government.  Mostly in the collection are silver and copper, very little gold.  I have no coins from other then USA and the US colonies," he said.

He said that he is not active Thaidenominated coin collector as his knowledge about the coins and the actual value is very limited.

He gave three suggestions for collecting coin.

(1) Learn as much as you can about coins investment strategy and the coins you wish to invest in.  www.coinfacts.com and the current Guide book United States Coins (Red Book).

(2)  Try to find a repeatable dealer of coins to purchase from.  Stay away from TV sellers and telemarketers. 

(3)  Watch out for fake or counterfeit coins.  The rarer the coin, the higher the chance of a coin being something other then the original piece.  Incorrect size and/or weight are common ways initially identify¬ing a fake.  One safer way, would be to limit your purchases to encapsulated coins by one of the major grading agencies like PGCS or NGC.  

Amid the global economic turmoil, collecting rare coins is regarded as a safe haven investment because value of both silver and gold tends to go up and coins, like banknotes, are store of value, he added.