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Question for the Money Doctors

Question submitted on Jun 28, 2019.

Question

What is the best way to save coins?

Answer

If you mean saving rare coins, this should be considered a hobby and not an investment.  The price of rare coins can fluctuate greatly and it is very difficult to project its future value.  In addition, there are fewer collectors than there were 20 years ago, so the market has obviously shrunk.  If you do collect rare coins, always protect them in a safe or safe deposit box.  Also, consider insuring your coins if your collection should become significant.   In addition, consider getting your collection appraised from time to time so you can apply the correct insurance amount to your collection. 


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