Editor’s Note: John Lorenzo is author of “Un-Real Counterfeit 8 Reales & Forgotten Coins of the North American Colonies” and is a researcher at World Numismatics. We are delighted to publish his views on the hobby.
John Lorenza, one of the top numismatists, has several recommendations for beginners and veterans about making money in coin collecting. His recommendations are so succinct that we will just illustrate his content.
Basic Hobby Recommendations
1. Educate yourself first. Build a strong foundation in grading, authentication, and market history before spending heavily. See this post about grading.
2. Buy the best quality you can afford. Coins with superior eye appeal and originality appreciate more reliably than average examples
Look at the eye appeal of this coin, previously owned by Michael Bugeja:
3. Focus on rarity and demand. Low‑mintage issues, historically significant coins, and series with strong collector bases tend to hold value.
4. Think long‑term, not short‑term. Coins are illiquid compared to stocks; meaningful appreciation often takes 10–20 years.
5. Buy from reputable sources. Stick to trusted dealers, major auction houses, or certified coins (PCGS/NGC) to reduce risk.
6. Diversify your collection. Spread across different series, eras, or regions to balance risk and opportunity.
7. Track market trends. Follow auction results, price guides, and collector forums to spot shifts in demand.
Click the photo below to see various holdering companies and their quality.
8. Protect and store properly. use correct holders, avoid cleaning, and maintain stable storage conditions to preserve value.
9. Network with other collectors. Join clubs, attend shows, and engage online to gain access to private deals and insider knowledge.
10. Be patient and enjoy the hobby. The best returns come from years of appreciation; passion for history and artistry makes the wait worthwhile.
Key takeaway: Rare coins reward patience. Their value grows as generations of collectors compete for limited supply, as historical narratives deepen, and as registry set competition heats up. Treat it like planting a tree—you profit when it matures, not the day you plant it. It’s a lifetime endeavor.
Collecting for Profit and Enjoyment After 60
1. Prioritize quality over quantity. Focus on a smaller number of high‑grade, desirable coins rather than building a massive collection that takes decades to mature.
2. Focus on established demand. Buy coins with proven collector bases (e.g., key dates, classic U.S. gold, popular world crowns) rather than speculative modern issues.
3. Think about liquidity. Choose coins that are easy to sell through major auction houses or dealer networks. This ensures your collection can be converted to cash if needed.
See Michael Bugeja’s past offerings at GreatCollections.com.
4. Certification matters even more. Stick to PCGS/NGC graded coins, since authentication and marketability are critical for heirs or future resale.
5. Enjoy the history and artistry. At this stage, the journey is as valuable as the financial return. The stories behind the coins can be as rewarding as the appreciation.
6. Plan for estate and legacy. Document your collection clearly, with purchase records and notes. This helps family members or executors maximize value later.
7. Network actively. Join clubs, attend shows, and connect online. Relationships can lead to better deals and trusted buyers when it’s time to sell.
8. Consider shorter‑term appreciation niches. Registry set competition, low‑population coins, or coins tied to anniversaries can see value rise in 3–5 years, not just decades.
9. Protect and preserve. Proper storage ensures your coins don’t lose value due to mishandling or environmental damage.
10. Balance profit with passion. The most successful collectors at any age are those who buy what they love. That way, even if the market is slow, the collection is still deeply rewarding.
Key perspective: At 60, you may not be holding coins for 30 years, but you can still see meaningful appreciation in 5–15 years—especially if you focus on quality, rarity, and liquidity. And unlike many investments, coins give you daily enjoyment while you own them. Stay away from modern U.S. Mint products whether 6 years old or 60 years old. Good Luck.
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.