Mainstream Coin Headlines Can Mislead
Beware of overly hyped, get-rich-quick “rare” coin headlines.
There are some headlines out there that are guaranteed to catch the attention of the non-collecting public but are likely are misleading as well. Among the headlines recently seen was one reading: “Cash Stash. I found coins among the mess in my new home – single coin worth $32,000.” Another reads: “Seven coins worth a lot of money in 2024.” A third banners: “Six rare coins that will spike in value in 2024!” There has been at least one misleading television infomercial pointing out the lower mintage of modern Morgan and Peace dollars when compared to the business strikes of 1878 through the 1930s.
The carrot and stick behind all this suggest you are going to get rich quick off what the uninitiated public would consider to be “rare” coins. Such stories may stoke sufficient interest in some of these readers. It may encourage these people to begin collecting coins. Should they begin collecting coins, that’s a good thing. It’s not a good thing if they enter the coin market not to enjoy collecting as a hobby but strictly because they have visions of making lots of money.
There are serious investors out there. Some of them purchase bullion coins while others seek very high-end rarities through auctions. These people know what they are doing. They’ve done their homework. It’s the person who reads misleading headlines, loses money due to misunderstanding the potential future values of coins, then leaves the field never to return once he gets a financial black eye. Know your coins and why you collect them.
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