Since 2001, the precious metals market has really taken off, with no foreseeable end in sight.  Of course, people have been using precious metals for much longer than that, but the past decade has been incredibly kind to precious metals investors.  Owning these rare, finite resources is a much more reliable way to save money than fiat currency, for quite a few reasons.

For starters, cash is easily swayed by socioeconomic occurrences.  When the economy is in trouble, paper money is in trouble.  On the other hand, during times of economic distress precious metals tend to soar in value as people scramble to buy their share.  While there is undoubtedly a need for cash in modern society, most financial experts agree that converting a portion of your savings into gold or silver is a sound financial strategy that will add stability, diversification, and crisis management when needed.

Precious metals are ideal investment vehicles because they are real money.  Gold and silver embody all of the properties that a good currency should, unlike paper money.  Precious metals have intrinsic value, due to their industrial demand, their scarcity, usefulness, and their aesthetic properties.  They are durable and will not tarnish or lose value over time based on physical changes.

Precious metals are also divisible, which makes them ideal for money.  Obviously, not everything costs the same price.  Being able to divide precious metals into coins makes it possible to store a specific value.  This brings us to the final property – portability.  While a car or house may be worthwhile assets, they cannot be transported or stored.  A gold coin can carry considerable worth in a small and convenient package.

The rare coin market is a unique way to buy precious metals, but it is important to do it right.  Precious metals are easy to invest in; you simply find a coin or bar that costs the right price and has the quantity of metals you are interested in, buy it and store it.  Rare coins take more research and skill, but they do offer more in the way of long-term rewards.

If you are interested in investing in rare silver coins, the first step is going to be to learn about them.  Like snowflakes, no two coins are alike.  You will want to research the rare coin market and become familiar with the coins that are most desirable, and which should be avoided.  A general rule of thumb is that historical significance and rarity is key.  You don’t want to just buy a commemorative issue coin and hope for the best.  You are better off seeking out a coin that cannot be reproduced or obtained.  That is why minting error coins are so valued, because there is so few of them and they will never happen again.

Determining the value of rare coins can be difficult.  You are not going to be able to just look at a coin and be able to tell if it is accurately graded at first.  That will take years of experience and dedication.  The best way to protect yourself from mistakes is to go through a reliable dealer that you know you can trust.  Talk to other coin collectors and find out about which dealers they buy from.

You will find that getting started in numismatics is a thrilling hobby that can be quite profitable if you do it right.  As long as you are careful to avoid common scams, and actively seek out only the highest quality coins, you can enjoy a long-term investment that can be quite profitable.  Talk to a trusted dealer about your options and then make an informed decision based on the facts.