e-Letters: Sept. 27, 2023

Do you think collecting new coin issues is a good investment? Why or why not?

I help collectors, estates and inheritors with coins and currency. I have made the observation many times, “The only one who makes money from proof and mint sets, including the plethora of modern commemoratives, is the U.S. Mint.” Telemarketers make the situation worse.

Gary Burhop, Memphis, Tenn.

Yes, but not for the purchaser. At the exorbitant prices the U.S. Mint is currently charging for new coin issues in the United States it will be years – and perhaps generations – before the majority of those new coin issues exceed their purchase price.

L. Koblenz, Address withheld.

Investing in modern issues is no different than investing in old ones. If you make the effort to identify what is legitimately rare, you have a good chance of success. If your purchases are more random in nature, or if you don’t look much beyond mintage figures, or if you don’t become an expert grader, it probably won’t end well.

Andy Lustig, Nyack, N.Y.

My answer is as with any other investment: who knows? I guess any investment should be researched thoroughly and new coin issues may not have a valuation history to do just that. To me, any significant appreciation of coins is an added bonus to owning pieces of American history.

Chris Kierski, Maysville, W.Va.

No. They are a poor investment. 99 percent have mintages that are way too large. The other 1 percent may be a better investment.

Heff Vogel, New York, N.Y.

Could be a way to acquire a free example if you can buy a sellout direct from the Mint and sell a few for a quick buck. I only tried this one time and it worked out well with the American Indian (Buffalo) commemorative and haven’t tried since because of problems logging on to the Mint’s website.

Joe Gorak, Address withheld.

I was skeptical on the new coins, but because of COVID, coin low mintage and the shortage of silver conversations are circulating through many articles. I believe now is a great time to purchase, especially with signatures.

Tim Kenyon, Mechanicsburg, Pa.

Buying new coins may or may not be a good investment of money if that is your goal. I think that most of the new issues from the Mint are way overpriced. They look great, but prices are almost twice what they were a couple years ago. The new proof silver dollars are spectacular. If you like a coin and can afford it, get it. Otherwise, simply pass.

Greg Gibbons, Livonia, Mich.

The common ones, I think no. The collector must find the joy and fascination of the collecting as a reward. Modern precious metal coinage, I think will ultimately be a good investment.

Jim Burnell, Colorado

As I only collect coins intended for general circulation, I never buy new issues as I feel they are a way for mints to make money at the expense of gullible investors.

Nigel Reid, Enfield, Middlesex, United Kingdom

With the exception of some U.S. and foreign coins, most new coin issues rarely make for good investments. Gold issue gains are usually predicated on bullion prices. So, do I collect new coin issues? Absolutely. But I do so because they are beautiful, and this is my hobby.

Lorne Lavertu, Herndon, Va.

People collect what they like, be it new or vintage coins. I think the [current] Peace and Morgan issues are great for those of us who were not around when they were first available. I remember being at a coin club meeting when the question was asked, “What coin would you like to have in your collection?” My answer was the 1964 Peace dollar followed by the 1974 aluminum 1-cent. I may not be able to get the 1964 Peace dollar, but I can get the 2021 or 2023 if I so desire.

I do think the glut of modern gold and silver commemoratives is a bit much and was glad to see there were no new “causes” this year. That said, at some point in time, the new coins available today will be vintage coins to someone in the future.

Charles Salemi, Address withheld.

Collecting new issue coins is a good idea if you enjoy it, but not if you are doing it as an investment. Modern coins are produced in such numbers that even coins with intrinsic value will never be worth more than the spot price. As an investment, you are better off buying bullion as close to the spot price as possible. That rules out buying bullion from the U.S. Mint as it is far too proud of its bullion.

Even so, I still buy coins from the U.S. Mint because I enjoy collecting. However, I get more excited when I find a “W” quarter in circulation than when I receive silver Eagles or Morgans from the Mint.

James Kern, Grand Ridge, Fla.

Based on their designs, aesthetics and themes, some new coin issues could make good investments, especially if held for the medium and long term. One coin series can be unique compared to another modern series, as well as to ancient and colonial series because of qualities such as the increased purity of several precious metal coins and the unique metal composition of issues. Moreover, the mintages for some issues are relatively low compared to current and worldwide populations.

Maurice Foushee, Washington, D.C.