KMAG100's Bio
I started collecting modern silver bullion coins in late 2011. The initial reason was looking for a way to make small purchases ($20-$100) of something that could convert back to cash easily. If I lost some on the conversion I was OK with it, because the cash would have been spent on something else if not a coin. If I am being completely honest I have never been a good saver of cash. Always seem to find something to spend it on so why not silver coins. My thoughts were if I could convert small amounts of cash into silver coins monthly and stock pile it, I could essential have an easily convertible cash reserve for unexpected events that life brings. After buying spot silver bullion coins for a while I started looking at the rarer coins and liked the idea of the larger premiums over spot silver and their reduced sensitivity to movements in the spot price. In fact, I found the price of a rare coin can completely decouple from the underlying metal spot price and appreciate from rarity and/or collector demand of the coin.
The advice I would give a new collector is start a collection within your means to afford, otherwise you may find yourself disappointed after spending considerable time and effort trying to put a collection together that is financially impossible to complete. So yes, money makes a huge difference in the type of collections a person can undertake and complete. Money also impacts the rate of speed one can put a collection together. The sooner a person embraces this reality of collecting, the better focused collector they become. I have found I can still enjoy all the elements of collecting with collection sets of lesser monetary value than others (Silver vs. Gold). For me the collection is not about the overall monetary value of the collection, it’s about my personal intrigue and feelings about the coins I collect. They are pieces of art created from pure silver. As much as I like looking at Picassos and would love to own one I will have to collect Doolittle’s, which by the way brings me as much intrinsic joy and intrigue.