Choosing Financial Freedom

Coin Collecting During A Recession | Is Gold Overpriced Or Should You Stockpile?

16 September 2022

Aubree Mccoy

Many people view recessions as a bad time to invest. They think it is better to wait until the economy improves before making big decisions. However, some investments can be very profitable during a recession. One of these is coin collecting. Here's what you need to know to start or expand your collection of gold US coins.

Why Collect Coins During a Recession?

While it is true that investors looking for safe havens to park their money can cause the prices of silver and gold US coins to rise during recessions, there is still plenty of opportunity for coin collectors.

Many people are forced to sell their collections due to financial difficulties during a recession, resulting in coins being sold for much less than they are worth. Savvy investors can take advantage of this by buying Byzantine coins, ancient Greek coins, and gold US coins at below-market prices and then selling them later when the economy improves. 

Recessions also offer new investors an opportunity to start coin collecting because the prices of some coins tend to be lower during recessions than at other times. As a result, beginners can often get started in coin collecting without spending much money. 

Another reason to consider collecting coins during a recession is that they can act as a hedge against inflation. Over time, paper currency's purchasing power decreases as inflation increases. Conversely, gold retains its value or even increases in value as inflation rises, making gold an excellent way to preserve your wealth over the long term. 

Is Gold Overpriced Right Now?

With all that said, you may wonder if now is a good time to buy gold, given the current economic conditions. Unfortunately, the answer isn't so cut and dry. While gold prices tend to go up during recessions, it's important to remember that we're in uncharted territory right now. No one knows how long this recession will last or how severe it will be. 

If you have the cash on hand and are comfortable with the risks, then investing in gold right now could pay off down the road. 

Coin collecting can be a very profitable hobby during a recession. In addition, recessions offer new investors an opportunity to start coin collecting without having to spend a lot of money. As with any financial decision, it is important to do your own research and make sure you're comfortable with any risks.

If you're interested in buying coins, including Byzantine coins and gold US coins, reach out to a seller near you.

Share