In today’s highly stressed modern world having a hobby can be one of the ways to destress – and if that hobby can provide you with a valuable investment then that is just about as good as it gets. This is one of the reasons that people decades ago took up stamp collecting. However – stamps are not in widespread use anymore which takes some fun out of a hobby which could provide the collector with examples of stamps from all over the world – and first editions which not only grew in value – but were often remarkably beautiful. But for those who enjoy collecting all is not lost. There is a hobby which provides not only historical interest – but access to an investment which has been proven to provide above average return on the amount of money the collector is prepared to spend – that is coin collecting.
The beauty of coin collecting is that it doesn’t require extremely deep pockets or a millionaires bank balance, for instance, silver coins appreciate in value
extremely quickly depending on a number of factors, not least among these being that many collectable coins are issued by governments that back the value of the coin – and the value of silver seems to keep steadily creeping up. Of course for those with an eye for a great investment, gold has always been a haven, especially when stock markets and currencies have come under pressure. The fact that there are also coins with great historical value makes coin collecting even more attractive.
There are gold and silver coins that have built a reputation for providing incredible value – and growing in value each and every year. Examples include the American Eagle, Canadian Maple Leaf and South African Krugerrand 1 ounce gold coins. When it comes to silver many of those gold coins also come in silver varieties, however one could include the Australian Silver Kookaburra on the list, as well as the Chinese Panda series. However this list is hardly exhaustive – almost any country that issues its own currency will have collectible coins that are issued as series on a regular basis. Many are available in presentation packs where variants based on weight are suitable for display – as well as in multipacks for those who simply want to hedge their investment portfolio through investment in precious metals – which is never a bad idea.
For the serious collector who has deep pockets and is looking for that extra challenge the rarity of the coin and its condition – and finding that perfect example certainly adds spice to the hobby of collecting coins. Some even take to the beach with a metal detector in the hope of finding a coin that has been washed up from a nearby wrench – there are those who have located hidden caches of coins that date back hundreds of years in farm fields.
However you choose to enjoy coin collecting remember some coins (or collections) can be extremely valuable – and enlisting the help of a qualified outsource accountant can not only maximize the value of any collection – but potentially avoid some of the taxation issues that can a company the hobby. Outsourcing to a specialist always makes sense – so make the most of your hobby by enlisting the help of a professional advisor.