Advantages of Coin Collecting in a Recession

There are a number of advantages of coin collecting in a recession for both experienced coin collectors and those considering starting a collection to consider. Whether you collect coins simply as a hobby or as an investment, a recession can provide the ideal coin collecting environment as a recession generally provides lower prices, more coins on the market and other ways for a coin collector to profit.

Lower Prices

Like most other collectibles, coins generally fall in value during a recession offering collectors the opportunity to find great deals on the coins they want to buy. Coin shops in particular might be more willing to deal on high price items as the recession will reduce the number of potential buyers of these coins and the shop owners might be struggling to meet the costs of operating the store. Coin shops might also be more likely to offer bulk discounts on coin storage items and other supplies needed by coin collectors to preserve their collection. The recession may also impact other collectors causing them to sell rare coins that they otherwise would not consider selling. Don’t forget to keep an eye on your local auction houses, eBay and other online retailers and flea markets for deals on coins and related items as well.

Bullion

One problem of coin collecting during a recession is that many investors buy gold and / or silver during a recession. This drives up the cost of the metals in coins, often raising the prices of many collectible coins. However, these higher metal prices also drive more people into looking through their old coins for things to sell. This means that more coins will reach the market for collectors to consider. Collectors with a number of lower value coins can also take advantage of the higher bullion prices to sell off some coins to buy other coins on their wish list.

Circulation

While finding a rare coin in circulation is always a long shot, a recession drives more people to spend their change which can help to get some old coins out of a jar and into circulation. Though you may not find a rare gem, you may well have more chances of coming across a silver dime, Indian Head nickel or wheat penny in circulation to add to your collection or sell at a profit during a recession than at other times.


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