How to Make Money in Coins Right Now, 2nd Edition (Paperback)

~ (Author)
Key Phrases: doctored coins, many coin dealers, generic coins, New York, Wall Street, Professional Coin Grading Service (more...)

Editorial Reviews

Amazon.com Review

Can you really make money in collectible coins? And can you make it *right now* -- not after holding them for a decade or more? Scott Travers, an international coin dealer and author of four previous books on the investment/hobby, believes you can. In How To Make Money in Coins Right Now: The Ultimate Insider's Guide to the Coin Market, he dispels the myths and whispers the secrets that improve your odds in this potentially lucrative marketplace. --This text refers to an out of print or unavailable edition of this title.

Product Description

THE COIN FIELD'S TOP INSIDER OFFERS THE SECRETS TO SUCCESS!

Consumer advocate Scott A. Travers blows the lid off the coin industry while telling you how to make huge profits from small coins. Completely overhauled for the new millennium, this prize-winning guide shows you how to:

* make the most of your on-line experiences by understanding the perils and pitfalls of Internet coin auctions
* outsmart the grading services with secrets that could make you a fortune
* understand coin pricing and identify coins to buy and sell right now
* use America's 50-state quarters promotions to your advantage
* save money with tax-slashing strategies
* negotiate deals like a professional insider

Includes a never-before-published, tell-all interview with a veteran dealer!

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Product Details

• Paperback: 336 pages
• Publisher: House of Collectibles; 2 edition (February 27, 2001)
• Language: English
• ISBN-10: 0609807463
• ISBN-13: 978-0609807460
• Product Dimensions: 9.2 x 6.1 x 0.8 inches
• Shipping Weight: 14.1 ounces
• Average Customer Review: 3.7 out of 5 stars  See all reviews (9 customer reviews)
• Amazon.com Sales Rank: #109,943 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

97 of 98 people found the following review helpful:

4.0 out of 5 stars A revealing work on the inner workings of rare coin market., March 19, 1999

By	[e-mail] (Leesburg, Virginia) - See all my reviews

This review is from: How to Make Money in Coins Right Now (House of collectibles) (Paperback)

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.

66 of 66 people found the following review helpful:

3.0 out of 5 stars Interesting but not essential, lots of the usual suspects, July 12, 2003

By	Mendicant Pigeon "Mendicant Pigeon" (pdx, or United States) - See all my reviews

Mr. Travers is a prolific author, to say the least. I seem to purchase a lot of his books even though I usually find myself thinking that the book at hand might have included more information, which is probably why I purchase a lot of Mr. Travers' books. I'm certain that this is no oversight from the man. Afterall, he makes his money by being meticulous in his own 'editorial' decisions, when looking at coins. I mention this because this book is not exxentially different from his coin 'survival guide.' In other words, you should buy one or the other but not both. In my mind, the biggest difference between the two books is that in the survival guide Mr. Travers discusses the changes in coin grading standards; a topic so esoteric that this info is going to be barely relevant to the overwhelming majority of collectors. In this book Mr. Travers includes a chapter of information that he tells the reader he has never disclosed in book form: The 'When To Sell' chapter. This chapter is useful, as most of Mr. Travers' advice is, but there is nothing really earth shattering in it, just good common sense advice, most of which can be parsed from the other book. To distill Mr. Travers' views in this book, he strongly holds the belief that money can be made by buying undergraded but encapsulated coins and submitting them for regrades, and also by spotting hidden gems amongst so-called raw coins that are out there whose charms are apparent to the keen-eyed and well-informed, i.e. Gather as much coin knowledge esoterica as possible, look carefully at coins for things that countless others have failed to see, and buy gold coins when the price of gold is down and you can hardly fail to make money. Oh, yes, and always go for quality! The one thing that I find to be of enormous help in both books is the excellent and comprehensive discussion of coin grades from AU 58 through MS 70 (and, in this volume a corresponding discussion of Proof coins). My problem with the capsule cracking scheme is that it seems like a mug's game. This view, by the way, is shared by the subjects of the interviews with a couple of coin world heavyweights which are included in this book. To sum up, any book by Mr. Travers is filled with helpful information, but this one has so much shared information with the survival guide that if you have one don't buy the other. If you don't have either, my bias is for this one.

28 of 29 people found the following review helpful:

5.0 out of 5 stars I tried it. It works., July 29, 2005

By	Here since 1998 - See all my reviews

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!