Rare coins are the next bling
I didn’t know that Bill Cosby and James Earl Jones collected coins.
GARDEN CITY, N.Y., April 5 – Young Hollywood, chart-topping music artists and professional athletes, who now show off with expensive cars, lavish homes, and flashy jewelry, might want to take a look into investing into rare coins as their next source of bling. With a 20 percent increase in growth over the past two years, the rare coin market is an up-and-coming investment option for the young financial elite looking for a new, hip alternative to stocks and bonds.
“There really is a ‘cool’ factor to investing in rare coins,” says Ken Smaltz, owner of K. Smaltz, Inc. one of the top coin dealers and first African American-owned dealer in the United States.
The rare coin market is the most thinly traded of all financial markets. One can conceivably become a market maker with around a million-dollar investment. With a fluctuating economy and the devaluation of the U.S. dollar, rare-coin investing is one of the best ways to ensure wealth protection during monetary, economic and social crisis. Since 1999, the U.S. Mint reports that over 136 million Americans are now collecting coins.
Smaltz is hoping celebrity coin collectors like actor James Earl Jones, comedian Bill Cosby, hockey icon Wayne Gretzky, Los Angeles Lakers owner Jerry Buss and film director Penny Marshall, catch the attention of the bling audience to kick this investment trend into high gear.
“Bling doesn’t have to mean purchasing massive amounts of liabilities with limited value. Bling can be a new way high earning individuals utilize their capital to purchase assets with appreciating value that can be passed down from generation to generation,” says Smaltz.
Rare coins provide numerous financial benefits to investors. Consider the following:
You can trade in and out of rare coins and defer any taxes on your gains virtually forever because exchanges of similar items in kind are not taxable under the law. When coins are finally liquidated, all profits then become taxable at the capital gain rate. Even so, you are free to give your coins as in life gifts thereby avoiding unnecessary probate and estate taxes.
Rare coins are small, portable, liquid, private and insurable.
Few collectible investments are as liquid and tradable as rare coins. With the advent of independent grading services such as NGC and PCGS, U.S. coins have become the most liquid of all collectibles.
To what extent are rare coins really blinging? During a recent Sotheby’s auction, a 1933 St. Gaudens rare gold coin sold for $7.59 million. One of only five 1913 Liberty Head V Nickels sold for $3 million dollars in 2001. Experts predict the Liberty Head V Nickel will sell for over $10 million before the end of the decade.
“Rare coins have entered a new renaissance with thousands of new collectors entering the market and vying for a limited number of rare coins. These record prices are just the beginning in a new wave of gains,” says Smaltz.
For more information about rare coins, please visit www.keeperofthecoins.com or contact Ken Smaltz at (866) 718-COIN.
About K. Smaltz Inc.
K. Smaltz Inc., a strategic alliance with Eastern Numismatics in Garden City, New York, is responsible for the buying and selling of rare coins to private individuals and collectors to diversify their investment portfolios. K. Smaltz Inc. is the first African American- owned rare coin company in the United States and has over 20 years of expertise in the rare coin industry.
(via Yahoo Financial news.