How to Protect Your Silver Investment
Do you buy a lot of really cool silver coins, bars, and other items? Do you ever worry about the hobby of coin collecting interfering with your coin business? Have no fear, there's a way to balance both!
Even though I made this video in 2012, it is as relevant as ever. Many of us who are in the coin business find ourselves straddling the fence of business and hobby all the time. I know that when I buy a huge coin collection and there are some really nice specimens, I find myself wanting to keep them for my personal collection. This problem is very common among people who buy and sell coins as part of their side hustle.
The solution to this is simple: make a specialized collection in addition to your silver hoard. There is nothing wrong with deciding to hold onto some of the silver coins you buy with the intention of keeping them as a long term investment. However, if you find yourself getting attached to them, you may have trouble selling them when the time comes. What I do to combat this is that I have a small highly specialized collection that I plan on keeping regardless of the price of silver. I bought a US type set album, but you can specialize in whatever interests you. Because I have no pressure to sell my type set, I can easily sell the bulk of my junk silver when the time is right. No emotional attachment issues! Check out the video above to learn more about this strategy.