How to Make Money in Coins Right Now

by Scott A. Travers

Book Overview

LEARN THE TRICKS OF THE COIN TRADE-- AND PROFIT FROM THE EXPERIENCE! Consumer advocate and ultimate insider Scott Travers shows you the tricks of the trade with clear examples of how you, too, can... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0876379978
• ISBN13: 9780876379974
• Release Date: September 1996
• Publisher: House of Collectibles
• Length: 274 Pages
• Weight: 0.78 lbs.
• Dimensions: 0.8" x 6.2" x 9.3"

Customer Reviews

Informative

This book was laid out in a way that you could follow and understand. Very informative.

Written by the professional

When you buy these kinds of books, you tend to expect some secret techniques of making money. Many books even manage to create the impression of telling you something previously undisclosed, until you try it and realise that it does not work. This book is written by the professional in this field. Making money in coins is a business, and not such an exciting one, after all. There are a few ways of making a profit honestly (or almost honestly) in numismatics. And there is no guarantee of being succesful. Very sobering message, and this book gets it across well. I learned a lot from this book and would recommend it to anyone interested in this business.

I tried it. It works.

I bought this book with the idea of picking up some investment coins, salting them away for a few years, and cashing out. While that may indeed work, it's not the essential theme of this book. After reading and thinking through some of the strategies, I became fascinated with the grading arbitrage game that is covered in great detail. Despite Travers' warnings about doing this online (and ebay specifically) I was able to parlay $600 into $1200 in about two months using ebay coin auctions. There is some risk involved and you absolutely must do your homework, but pretty much everything you need is discussed in this book. You can make your own price guide by using the resources on ebay; you will also need the self-discipline to not over-bid!

TRAVERS IS A GENIUS!

but there is a catch. Yes I am following Traver's advice. I don't plan on making a cent for 6 months. In fact, I plan on being in the red! I loved coin collecting when I was a child. The title IS misleading. But I assume that this is what Western Civilation calls "marketing". I have many of this man's books and a CD. If you love coins...If you are not looking for a fast buck...If you are willing to study hard...If you are willing to follow graphs on the net...If you are willing to subscribe to weekly coin magazines...If you are willing to study different grading systems for evaluating coins - Then you can do it! As I will. Thank you Mr. Travers. You're a Godsend.

A revealing work on the inner workings of rare coin market.

As an investment advisor, I find Mr. Travers' honesty and forthrightness very refreshing in an industry that, to date, is largely unregulated. The practice of resubmitting coins for potential upgrades, a reality that makes PCGS & NGC population reports somewhat useless, is a game that the inexperienced investor had best leave in the hands of trustworthy coin dealers who are proven numismatists; as a result, the first order of business is for the budding collector/ investor to find a "few good men". Mr. Travers, based on the level of disclosure, a term mandated in the regulated securities industry, but often devoid in the rare coin industry, that he provides on steering new investors among the many rocky (and expensive) shoals of this investment vehicle, is probably one of those few. As a result, his advice is generally not self-serving.The book was written possibly at the price bottom of the U.S. rare coin cycle, 1996, so a revised edition that does not concentrate on "crack outs" or resubmissions for possible upgrading as the primary investment strategy is probably in order. The book does cover virtually all aspects of actually approaching rare coins with a profit maximization goal from initial selection criteria for purchase candidates, debunking of the "buy-and-hold for the very-long-term strategy", to the optimal methods for obtaining the greatest net sales proceeds on liquidation. By pointing out the shortcoming of third-party certification, Mr. Travers also points out the opportunities that exist for investors that have the inside track.Comprehensive coin grading is only briefly covered with pertinent examples, but the presentation of series-specific grading standards and criteria were not the intent of this piece. Obtaining a broad and detailed understanding of the mechanics of the rare coin marketplace is one of the most difficult goals to achieve for a new investor. This reference work is one of the few that tells it like it is. Highly recommended for coin collectors/investors at all levels of experience, since you can always learn something new from an individual's life work. Consumer advocacy is a novel concept in this field also, and unforturnately, most novices must learn from the school of hard knocks. This book provides detailed descriptions of the most costly mistakes to avoid at the outset. Fast reading.