I'm looking for resources on off-beat investments: coins, stamps, etc. - any ideas?
Web sites, newsletters, magazines, whatever....thanks in advance :)
Answers
4085 points
EthanR answered one year ago …
wow, Dave, great question. Let me give you a few.
Collectibles: You really have to like them to invest in them, it's not like a stock or bond. To find collectibles cheap, go to garage sales, estate sales, craig's list, etc. Specialize in a niche, then sell your niche on ebay. Many years ago I bought and sold baseball cards, simply because I liked the cards so much in my youth. It not only made money, it was fun. But baseball cards aren't as hot as they once were. Things from the 60's and 70's still do very well in re-sale. Old political buttons, lunch boxes, TV related items, etc.
Believe it or not, I often find collectibles in the dollar stores. Sometimes you will find silly little products from old TV shows or rock bands. Don't spend more than a dollar or two on any of it. You can save it 20 years, then sell it, or go for the quick profit now via ebay.
There are people who buy and sell domain names too. Cheap investment, high possible return.
312 points
2775 points
Oldman answered one year ago …
One word of caution: Don't put collectibles, art, pictures, furs, stamps or any coins (except U.S. Treasury issues) in any tax-sheltered account. I believe Revenue Code section 514 explicitly prohibits these "Collectibles" in any IRA, or "S"-type shelter. They also carry a 28% 'collectible' IRS rate, and the cost for storage , appraisal,and insurance..
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ericmr answered one year ago …
Ok, I seriously recommend AGAINST investing in collectibles (such as stamps, precious coins, art, etc.) UNLESS we' re talking about a bonafide collector, who knows and loves the stuff he collects! This is really an important concept to remember in that area because an investment such as a stock, or bond is (usually-unless we're talking about an old stock certificate:-) NEVER a collectible but a collectible can be ALSO a longterm investment. Get it? To amend this: A stamp or coin or art collector loves his collection and will handle it that way. He knows that his collection cannot be sold easily even if it appreciates significantly - he would either have to auction it off or sell it to a wholesaler at a discount. The purpose of a collection of whatever is the joy of holding it while at the same time knowing that it (hopefully) will appreciate significantly over a very long time frame. In many cases, a collection is supposed to be a family heirloom and be passed on to successive generations. The collector (in most cases) will not be able to borrow against it either as he can with stocks or commodities. So, if you're still interested in coins or stamps and really love them, try the national mints and post offices of the major western countries such as: US Mint, The Royal British Mint, Royal Canadian Mint (great 2010 Olympic coins), The Royal Australian Mint, New Zealand Mint, the national mints of France or even Mexico - or contact one of the wholesalers for the 2008-Chinese Olympic coin collection available through the goodle search engine. Watch out for those resellers though that promise you quick returns - in 99.9% of the cases, they are a fraud! If you just want to just invest, buy gold or platinum BULLION coins SLOWLY over time and sit on them for a decade or more.
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