True value of coins?
Hello coin collectors. I've got a question coming from a place of complete ignorance, so please bear with me.
My father has collected coins for a long time. He's now in his 60s, and sometimes I question his judgment when it comes to his "investments." Every year, he gets a new book containing the listed values for various American coins. Sometimes he'll come home with a coin that's listed for (for example) $300 and say, "I got it for $250. My coin dealer gave me a really good deal."
I don't really know anything about coins, but when a deal seems too good to be true, it usually is, right? My father seems to think he can turn around and immediately sell it for $300, but if that were the case, wouldn't his coin dealer be selling it for that price?
I know the true value of anything is "whatever people are willing to pay for it." I'm just wondering if my father is in fact making good investments or not.
Submitted February 08, 2016 at 05:17PM by devouredbycentipedes