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Coins as an investment

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  • 26-09-2016 8:27pm
    #1
    Wottle
    Registered Users Posts: 1,226 ✭✭✭


    I have a few coins already and I really like what the DMO offerbut as a long-term investment (20 years plus) are they good value.
    Take the €10 JFK silver proof coin as an example?

    As I think I'd enjoy collecting as a hobby but don't want to waste money either, hence the question, are they a good long term investment?


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    #2
    coylemj
    Registered Users Posts: 25,353 ✭✭✭✭coylemj


    Wottle wrote: »
    I have a few coins already and I really like what the DMO offerbut as a long-term investment (20 years plus) are they good value.
    Take the €10 JFK silver proof coin as an example?

    As I think I'd enjoy collecting as a hobby but don't want to waste money either, hence the question, are they a good long term investment?

    If by 'DMO' you mean the Dublin Mint Office, the answer is a resounding 'NO'.

    Everything they sell is complete junk which will never have any resale value.

    And just in case you're in any doubt about what I'm telling you - every penny you have already spent with them is money down the drain. Stop buying from them immediately.


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    #3
    DMcL1971
    Registered Users Posts: 1,444 ✭✭✭DMcL1971


    Hi Wottle,

    Unfortunately I have to agree with coylemj. The Dublin Mint Office is an absolute scam and nothing purchased from them was worth the value paid at the time, let alone at any time in the future. So as an investment you can forget the DMO. However they did make some attractive stuff so, if you really like the look of then then go ahead.

    As for the coins officially released by the Central Bank. What you will generally find is that most of them will hold their value so, you can always sell them in the future and shouldn't be out of pocket. Some of them do go up in value but not many of them. As a specific example the €10 JFK is an interesting one. Before it was released I thought that it was a great investment, everyone likes JFK, many people are still alive who remember the visit, it was shortly before his death, it should be of interest to Americans and Irish-Americans. All these thing would suggest that it would be a big seller however as you can see three years later and it till available to buy at the Central Bank and other less interesting coins have sold out. It appears to not be nearly as popular as I thought and can be bought on eBay for less than the Central Bank are selling it.

    Coins that sell out quickly from the Central Bank do however go up in value. Predicting which will sell well is a tricky though.


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    #4
    Blade
    Moderators, Business & Finance Moderators, Music Moderators, Recreation & Hobbies Moderators Posts: 4,499 Mod ✭✭✭✭Blade


    Agree with all of the above. Stay the hell away from the 'Dublin Mint Office' for a start. Also keep in mind that even those of us who've been collecting and investing for years make mistakes and lose money. I honestly don't think the strategy of buying new issues from the Central Bank for investment purposes is a good one. Generally speaking the only coins from the CB that increase in value are ones that have a very low mintage and high demand, but you'll find in those instances that these coins are very hard to get and would be limited to one coin per person. The 100 Euro Gold 2016 being a perfect example where there was a queue outside the CB on Dame St and they sold out that morning, also it was practically impossible to get through for phone-in orders. That coin has shot up in value, along with some others that sold out quickly. So you have to guess and take a chance with these things.

    Personally I prefer to collect older Irish coins/medals and tokens where you can still find good bargains.


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    #5
    coylemj
    Registered Users Posts: 25,353 ✭✭✭✭coylemj


    DMcL1971 wrote: »
    The Dublin Mint Office is an absolute scam and nothing purchased from them was worth the value paid at the time, let alone at any time in the future. So as an investment you can forget the DMO. However they did make some attractive stuff so, if you really like the look of then then go ahead.

    As well as their products being junk, they now appear to be resorting to downright fraud so you need to avoid placing an order even if you really like the look of their products.

    This poster appears to have been overcharged and by the looks of it the DMO dragged out his original order over several months, I'm guessing so that by now he may not be able to do a credit card chargeback.....
    James Mac wrote: »
    Complete con artists. Ordered €77:80 of goods in May, last item arrived last week, they've charge me €200+, never answer calls, return voice messages or emails and they are not residing in the address they give in Blanchardstown. The presentation boxes etc very disappointing. Sorry I fell for their scam!

    Above is post #66 in this thread ('Dublin Mint Office- Just when you thought you were safe') in Consumer Issues...

    http://www.boards.ie/vbulletin/showthread.php?t=2056699298


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