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Title: How to Make Money in Coins Right Now, 2nd Edition by Scott A. Travers ISBN: 0-609-80746-3 Publisher: House of Collectibles Pub. Date: 27 February, 2001 Format: Paperback Volumes: 1 List Price(USD): $14.95 |
Average Customer Rating: 4 (3 reviews)
Rating: 3
Summary: Interesting but not essential, lots of the usual suspects
Comment: 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.
Rating: 5
Summary: TRAVERS IS A GENIUS!
Comment: 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.
Rating: 4
Summary: A revealing work on the inner workings of rare coin market.
Comment: 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.
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Title: Coin Collecting for Dummies by Ron Guth ISBN: 0764553895 Publisher: For Dummies Pub. Date: 15 September, 2001 List Price(USD): $21.99 |
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Title: The One-Minute Coin Expert, 4th Edition by Scott A. Travers ISBN: 0609807471 Publisher: House of Collectibles Pub. Date: 09 January, 2001 List Price(USD): $7.99 |
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Title: Photograde: A Photographic Grading Encyclopedia for United States Coins by James F. Ruddy, Golden Books ISBN: 0307993612 Publisher: St. Martin's Press Pub. Date: June, 1996 List Price(USD): $12.95 |
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Title: Planning Your Rare Coin Retirement: How to Select a $10,000 Rare Coin Portfolio Full of Growth Potential by David L. Ganz ISBN: 1566250986 Publisher: Bonus Books Pub. Date: July, 1998 List Price(USD): $13.95 |
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Title: The Coin Collector's Survival Manual by Scott A. Travers ISBN: 1566251494 Publisher: Bonus Books Pub. Date: November, 2000 List Price(USD): $18.95 |
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