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user_30405's Blog

30 Nov 2021

Profitable Coin Collecting --BOOK REVIEW

Library | user_30405

Profitable Coin Collecting, by David L. Ganz, is an interesting book that explores market trends and investment in lucrative performing coins. A respected and polished numismatic author and driving force behind our circulating commemorative coinage, David L. Ganz has masterfully written a book on coins as investments. I believe that this book should have special appeal to deep pocket collectors (see my review on One Coin is Never Enough). The author investigates the Salomon Brothers survey on coins as an investment. David Ganz goes on to investigate its shortcomings and how it revolutionized the coin industry, as its effects still affect our collecting 44 years later. While the whole book is filled with charts, this section is particularly dense with eye-opening charts and illustrations. He moves onto what creates value in a coin and how grading has affected today's market. He finishes the first half of the book with investment strategies, especially focusing on pre-20th century proof coins.

The second half of the book was the most useful to me. David Ganz, having written about investing itself, goes on to write about a few lucrative performers, some of which are every collector’s dream coin. These chapters are very handy if you would like to know more about some famous coins, a few of which I had never heard of, while others, like 1933 Double Eagles, I had read books on. The first coin is the 1794 silver dollar, representing early American coins with a very low mintage. A few other coins that he covers are branch-mint absolute rarities, including 1838-O Half Dollars and 1894-S Dimes. He moves to more modern rarities such as 1946-P War Nickels and 1909-S V.D.B. Cents. The book would never truly be complete without including all-time rarities like 1913 Liberty Nickels and 1804 Silver Dollars.


Overall I would give this book a seven out of ten, as many areas are unduly dense. Other than that it was a great read, especially considering I got this book while borrowing the bulk of my local library's numismatic books!

Thanks for reading! As always questions, tips, and corrections are welcome.


Comments

mrbrklyn

Level 4

great!

Kepi

Level 6

Sounds interesting. Thanks for the review! ; )

Sounds like I should read it!

Longstrider

Level 6

The one area of coin collecting I never do is collecting for a profit. I don't want this to become a business. I personally know a guy that does have Millions of dollars in Morgan VAMS. He has tons of Cameo and DMPL coins. Many are on Heritage right now. Besides getting rich he has lost his shirt. Too many variables for me. Glad you like the book. Thanks.

Golfer

Level 5

Collecting coins for profit isn't easy. 2008 this book 1st came out? Book is probably worth reading. You can make a profit by being 1st in line at the mint sometimes. Not many coins at a coin show will make you a profit.

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