How Not to Invest / Collect / Stack Proof Gold and Other Coins

[LawrenceChard]

5 hours ago, Ted1945 said:

Thanks Pete, a cautionary message that got my attention as a Rookie who has bought a few proof sovereign with the  intention of leaving them to relatives. I am sure once they get their hands on them ,  and I will need a copy of LC's Handling guide for them😬), they'll try and flog them.  I have,  pre TSF membership and any clue, acquired from dealers (wince now I know about premiums and have trailed the  archives) some of the QE2 reverse designs coins.     The enthused part of me wants to get a 1989 and 2017 to complete my set, but from yours and other posts I have read I wonder if my strategy should be tweaked in favour of BU versions?    I think the 1989 and 2017 designs look amazing, but now feel twitchy about the whole premium / resale conundrum.   I agree with you the sets look awesome.   Selfishly I'd get a great deal of pleasure from owning an '89 and '17  and hopefully for years to come.   I would very much value any opinions, comments or tips.

Ted.  

Blame me!

I should have made the RM an offer the take the unsold balance of 1989 proofs off its hands!

😎

[Piperscoins]

  A simple note can stop a novice mistake.  

[Piperscoins]

On 23/06/2022 at 00:02, Pete said:

I love the look of FDC gold proofs especially the quintuple sovereign but when it it time to sell be prepared for a big disappointment.
Dealers will list these stunning coins, coin sets and boxed proofs at high premiums but they are selling and you can easily get suckered into buying as I did once, believing the premium will be retained.
Some sought after key date coins retain decent premiums but from personal experience all the others are only worth bullion prices when you decide to part with them. I am sure some sellers will argue but there will always be exceptions but when I sold most of FDC proofs, I struggled to get spot and that's when spot was over 20% lower than today, so a big mistake selling - according to Dr. Hindsight.

I agree with Pete as I remember this.

In my time i have sold a stack and when it is time to sell its mainly Dealers who have the money. 

[RacerCool]

Place a non-sticking tape around the capsule with words on it "LEAVE COIN IN CAPSULE DO NOT HANDLE COIN WITH BARE HANDS" in bold red letters.  The tape can easily be removed and tossed aside but they have to have seen those words before actually accessing the capsule.

Beyond that there's nothing I can think of short of gluing the capsule shut.