INVESTMENT ADVICE FOR
STAMP AND COIN COLLECTORS.

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Above: Always desirable, always collectable, its just a matter of price. These historical George III (1760-1820) Guineas  are sometimes available for $600 to $900 Australian dollars, ie usually mid grade, fine to near VF, with the normal faults and marks, expected for a coin in this price range and age.

George III Gold Guinea, circa 1798. Such a historic period with the American Revolution, the French Revolution, the Napoleonic Wars,  not to mention the colonization of Australia, all happened during George III's reign. A little over 8 grams of 22 carat gold, also with a collector interest.

Collecting Coins and Stamps is a wonderful hobby, practiced as long ago as ancient times where affluent Romans would collect coins of the ancient Greeks who ruled before them. People such as myself, who love history and the past, find a real connection with coins and stamps, one of the truly affordable souvenirs of history. Being the first mass production item, coins from historic periods are surprisingly affordable, although some are extremely rare.

Too many people confuse the hobby with investment however.

If stamp and coin collecting is a hobby, then cost is secondary, just as is playing golf, or building model planes, etc.

If you make the connection with history and the world in general then you can't fail to enjoy coins or stamps. They are also a wonderful education for children, and can be a cheap geography and social sciences lesson.

Coins and stamps will always have some value at the end, unlike many other hobbies. They are certainly a better bet than the pokies, and are really another form of entertainment. If you treat them this way, you will never be disappointed.

Having said  that, no-one likes to waste money or throw it away. If you are investing, then different criteria are involved than when you are  collecting.   Collecting means following your passion and interest. For example, I collect Ancient Greek & Roman silver and bronze coins. Most coins I buy are usually sold later at a modest gain, which, with all expenses taken into account, is more often like a small loss, in real terms. Why do I collect them then? Because of the history and artistry involved, the sense of romance about long ago, I suppose. Certainly not for the monetary gain, which I know, will usually be minimal.

Investing means taking a different view. Most items need to be both RARE and WANTED to appreciate in value. Although many of my ancient coins are rare, they have to be wanted, and whilst they are overseas, it is not so much the case in Australia. 

If you buy common material, that is available anywhere, as an "investment", it will always be common and be readily available on the secondary market. An "investment" is not a good buy just because you can afford it..

 This strategy might mean possession of only a few items, but, if properly chosen, they will always hold their relative value and give you the pleasure of ownership. Condition is important but not absolute. Overall appearance and centering is as important as any technical grading. If you are considering Investing some money in coins/stamps, test the water first. Buy some lower grade, cheaper coins or stamps to get a feel for grading and what you need to look for that determines different grades.  Buy a book or two and/or some catalogues first, to get some background knowledge of the series that interests you.  Subscribe to the monthly Coin or Stamp magazines, which have useful articles and advice for collectors. If you don't KNOW about the background to coins and stamps, how do you know what is scarce and wanted... PLEASE - Don't invest in coins and stamps if you don't care about history or the artistry and romance of these objects. Stick the money in the bank.

Often investment is a matter of timing or luck. No one can say for certain whether something will increase in price, in REAL terms.  Anyone who bought Australian Mint Products in the 1966-74 period is still well ahead in the investment stakes. If you invested in the 1977- 1989 period at the issue price, then, in most cases, you are  behind and will always be. This is because everyone did the same thing in those years and the Mint and the post office responded by issuing larger amounts.   Proof Sets from the 1990's have often retained their values better than sets from the 1980's. This is because less numbers of each year Proof & Mint Sets were made in the 1990's than the 1980's and also because INFLATION has been much lower in the last ten years. 

Buyers of quality Australian pre-decimal banknotes in the 1940's to 1960's are sitting on a fortune now. That can't be said, in real terms, for people who bought lots of 1980's $1/$2 notes. Some later 1990's & current Australian proof and mint issues and stamps look a reasonable bet, as mintage was much lower in many cases, than in the years 1977- 89. Examples of later Australian coins to do well are the RAM 1996 30th anniversary of Decimal Currency silver proof, also the RAM $5 Bradman Proof, whilst the 1999 RAM Millennium coin and the year 2000 proof and mint sets have had a lot of money put into them. 

Here is an example of timing and luck. Husband dies at end of 1965. Wife gets $4000 from estate in early 1966 (you could have bought a house in 1966 for that money) It is put into 200 of the new 1966 $20 notes. Notes sold for $50 each in 2006 = $10,000. That represents a massive loss BECAUSE 1966 $20s were made in large quantities and are common. Here is the rub. If the death had occurred one year later and the notes were bought in 1967, they would have been Coombs/Randall signatures and 200 UNC $20 Coombs/Randall notes would be worth $700,000-$800,000 today. Investment in collectables is largely a matter of timing and luck.

CONDITION: It is quite possible to take a mania for condition too far. Good examples of this are to be found in Australian mint & proof sets and Australian decimal stamps. If you relax and start to enjoy the hobby, rather than worrying about the investment side of it, big savings can be had in this area. Example. 1985,86,87,88,89 proof sets. New and perfect, cost $50 to $60 each, depending on where and when you bought them. Same sets, missing outer box, (collectors often throw the boxes out, for all sorts of silly reasons) or with scratches/cracks in case (coins still perfect mind you) price $25 to $30 .  You can often save $10-$20 or more on mint product that has soiled or damaged or missing outer boxes. As long is as the coins are securely housed and not stolen property, that should be your two main concerns in this area. The idea is to get some joy of ownership, that doesn't mean sticking them away in a box and never looking at them.  Sure, with things that are rare and desirable, we take particular note of condition, many items from the 1970's-1980's do not quite fit that category.... Australian decimal yearbooks 1981 to the present are another example. They are meant to be read and enjoyed, not stuck away never to be looked at. So, what if a few pages have finger marks or minor faults. It is called life, wear and tear..  Believe me, when they are sold as a bulk lot, they go most times for the same price as  brand new ones that have never been touched or opened...

Investment in stamps/coins is a medium to long term goal. Few people succeed in the short term, or if they buy common material as an investment, because of the cost involved with buying and selling. Remember that there is always a cost of selling your items, a fact too many people fail to take into account. Investing in coins/stamps is NOT for the impatient, who want to turn their money around quickly, unless you are lucky or an expert.

If you would like to put some money safely aside into older coins and learn their grades, then I suggest gold and Silver coins. They are always wanted, and can be traded with a minimum of knowledge. This is important if you are putting coins aside for children. Whilst gains may be uncertain, losses will be minimal, and they are easily converted back into currency. I sometimes have available silver round Australian 50c coins from 1966. Three make exactly an ounce of fine silver and, at one stage back in 1980, they did trade for $9-$10 each. I sell 20 for APPROX $140 (varies according to daily silver bullion value), being $7 each, plus the postage costs as a minimum order. Also available occasionally, are bags & lots of Australian pre-decimal silver coins at a touch over bullion value.

Regarding gold, I USUALLY have available some nice late 19th and early 20th century sovereigns, mostly minted in Australia, some in England. These are so historic and easily traded and are all in higher grades, for a touch over the bullion value. These are a perfect way to collect and learn about old Australian gold coins and coins in general without risking much, as the bullion value of even the worst of them is close to the sale price. Many sovereigns from the early 20th century are a much safer investment than many silver and copper coins from this period, and, in the same grade, much more affordable. Compare a 1915 Melbourne sovereign in EF for about $350 and the price of any similar grade Australian silver or copper coin from 1915.

Most collections, if formed coherently and over a long period will average out the gains and losses, leaving one wiser and with a tangible asset. Also, collecting stamps and coins will return an investment in knowledge and history that can't be measured totally in monetary terms. 

Finding a dealer who you can trust and who will look after you is important also. I remember some good relationships over the years with other dealers when I was purely a collector. The enemy of every dealer is time, we gladly give it to customers that are prepared to return us something to help us stay in business. Those dealers were happy to look after me and share their knowledge, because they could see I was enthusiastic and was not just a one-off buyer, or worse, someone out to waste their time and pick their brains. Knowledge does not come cheap, my library of reference books cost $1000's and is still grossly inadequate. 

Examples of what to avoid and the responsibilities of the dealer and the buyer.

 I have seen enough examples of dealers AND auction houses who are not too fussed about their clients.

As a dealer it is surely my responsibility to buy and sell things at a fair profit and describe them properly.

As a buyer, don't blindly trust dealers or auctions, who, after all are salesmen, trying to part you from your money. As a buyer, if you don't take the time to investigate and research what you are buying, you are putting your neck on the block and some smooth talker will chop it off.. Shop around for what you want, don't drop your money with the first person who looks or sounds "reputable" Just because they have a big fancy shop or auction and wear a big fancy suit, doesn't mean they are going to look after you, in fact, their higher expenses and jet-set lifestyle usually means you pay more.

 I know some very honorable mail-order dealers, ie Michael Kupermann, Dick Pot, Geoff Yates, John Watson, who don't have shops and some rogues,  who will go unmentioned, who do have shops or auctions.

1. Australian 1850s Taylor patterns.

 Some of the coins being offered by people who should (and do) know better are in fact forgeries made by David Gee. Be very careful in this area. A read of the book "Heads I Win" is a must for any rare Australian coin collector.

2. IMPROVED BANKNOTES. 

 I sold an Australian 10 pound King George V  banknote for $1250 in 2005. It had been originally sold in 1996 by a dealer who knows better, as aUNC for $3000+ The note had been cleaned and pressed and had a pinhole. It was still a nice looking note, and rare, but gVF was the correct grade and $1250 in 2005 a realistic price. Cleaning and "improving" old Australian banknotes is a virtual industry in Australia. There is nothing wrong with this, in many cases it is restoration. What IS wrong is the failure to discount the price accordingly.  It is logical really. Most  notes that are 50 or more years old, if truly UNC will not look "white" around the borders. Paper tones with age, due to pollutants and trace elements in the air. Most truly UNC notes, will in fact, have a grey sheen to them and not be white. There are VERY FEW truly UNC notes around from the King George V period. Many that look UNC have, in fact, been "improved" This is logical to a point and seems to be what the market demands. How many 5 & 10 pound notes from the 1930s/40s never got circulated? Very few, 5 quid was a LOT of money in this period and those notes got spent. Look also for repairs, which can often escape the eye on first glance. If a note has been repaired, it should be in the description and the price discounted accordingly. Notes are a lot harder than coins to grade.

 3. Coins in fancy packaging.

This presents the coins better, but does not necessarily add to the value and is often a large portion of the original price. You often pay a lot for this packaging, which is pretty, but is not going to necessarily make the coins more valuable. Decimal Australian Gold coins priced at far above the intrinsic or gold value are often a good example of something to be wary of.. Australian 2000 Olympics gold set and silver set of 16 for example - compare issue price to what they sell for on eBay now..  Fancy packaging, glossy brochures.. Who pays for these? The collector, who else?

4. CLEANED Higher priced (over say, $200) AUSTRALIAN PRE-DECIMAL Silver coins. 

My friend, Gerry McGinley, who is one of the straight shooters in this industry, has a 1934 florin, sold by a notorious dealer from the 1980's. Originally sold and described as UNC, it is in fact VF and has a bad scratch in the kings crown. Original sale price $1400, actual value about $20. How did it get sold as UNC you ask? Simple. It has been cleaned and made to look a higher grade than it is. With most old florins you look at on a dealers tray, they should be different colours. Silver tones naturally with age, like paper, and will go a myriad of different colours, blues, greys, etc. If all the coins 1910-1940 look the same colour on a dealer's tray, alarm bells should start ringing. It is usually because they have been CLEANED, this is especially true of coins pre 1940. 

To be Uncirculated, Australian silver coins 1910-64 must have MINT LUSTRE or MINT BLOOM. This is difficult to put in words, but is a frosty looking "sheen" that was on them when they left the mint. All silver coins eventually lose this sheen as the toning (ageing) process takes over. This can take up to 200 years, depending on how they are stored. it is very rare indeed to see a silver coin more than 200 years old with mint lustre and toning usually begins after about 50-60 years, sometimes less, depending on how they were stored. Cleaned coins still have a value, but less than if the coin was truly UNC. If they are individual coins with a value over $200 each and not described as such, then your or your children are in for grief in years to come..

5. "Investment" Portfolios. 

 I have seen some lovely examples in this area, usually sold in the 1970's - 1980's by slick salesman with fancy lifestyles and/or bad gambling habits. Coin portfolios sold for $10,000 TWENTY+ YEARS AGO that are worth $1500 today, etc. BEWARE of anything being offered as an "INVESTMENT" No-one can say for certain whether coins sold now will be a good investment or not. People peddling the term "INVESTMENT" are usually doing it to make more sales. If it is such a great investment, why are they selling it?? True, you can take an educated guess at what MIGHT be a good investment, but no-one knows for certain. Percentage wise, a lot of LOWER priced items have been the best investment. Future prices are VERY MUCH dependent on economic and maybe climatic conditions.  Remember - THERE IS NO SUCH THING AS A 100% SAFE RISK FREE INVESTMENT! Such an animal doesn't exist, if it did, we would all have money in it!

Some other investment tips.

6. Too good to be true - it usually is!

If a coin is rare, it sells for much closer to the catalogue price than common coins. If something was genuine and worth $3000 - why are you being offered it for $500? Buy from a reputable dealer who backs what he sells with a guarantee of authenticity.  Expect to pay a realistic price.  Buying without a guarantee is not worth it over such things as Holey Dollars, 1930 pennies and 1923 halfpennies, of which there are many fakes, ranging from crude to expert..

7. Auctions - good luck!!  

Auctions - some good buys and bargains to be had and some traps for the unwary.

Most auctions have high buyer & seller & postage charges, auctions even slug the buyer for credit card use, something I NEVER do!

 Sometimes at auctions, it seems as if you are bidding against the pot plant in the corner, the ceiling fan or the vendor of the material...

Auctions are a poker game, for example, sometimes dealers are paid thousands of dollars by other dealers to keep away from buying certain material at auctions...

Sometimes material sells very cheaply at auctions, other times it can sell for ridiculously high prices. If buying at auctions, view the items, do your research, set your price and stick to it.

Getting a refund for poorly described or defective items or any sort of prompt service from some auction houses, is very hard...

8. Dishonest percentage returns.

 A favourite trick of "investment" peddlers, is to show you a graph of the rise in price of a coin or other item over some years.

Example 1930 penny. In 1975 approx cost $2000, value today $20000, gain $18000 divide by 33 years = 54.54% percent a year gain. Right? Wrong. This dishonest  scenario TOTALLY fails to take into account Inflation and the fact that money BUYS CONSIDERABLY LESS per dollar than it did in 1975.

Yes, they have gone up in real terms, but only over the last 5 years, where they have jumped considerably in price, from approx $12000 in average grade to $25,000, due mainly to other factors, ie some shocking Superanuation returns 1998-2003 and again 2008 and 2009, low interest rates, lack of alternative investments, etc. A fairer way to look at this is as follows. Average weekly wage in 1975 $120, average weekly wage in 2008 about  $1000. In 1975 it took approx 16 weeks pay to buy a 1930 penny. In 2008 it takes about 20 weeks pay to buy a 1930 penny. So yes, they have increased in real terms and represent a reasonable investment, but certainly NOT to the tune of 54.54% per year or anywhere near it. 

The best INVESTMENT you can make in coins or stamps is KNOWLEDGE and that only comes from diligent study and work, by reading and comparing and handling the items of interest to you.  For example, I shudder to think of the amount of money people have dropped in higher grade Sydney Mint sovereigns over the years and I have been one of them. This area in higher grades is a hard area to RE-SELL when you have had enough of it. Reselling Sydney Mint sovereigns in higher grade usually means taking them back to the dealer who specializes in this area or putting them up for auction with a large auction house. With auction commissions often running at OVER 30% (at least 16.5% for buyer and often up to 15% for seller) this means that it takes a long time to see a return, if ever in real terms. 

9. Who are you buying from - will they look after you?

Here is an email sent by a so-called "dealer" in reply to one of their customers, who received a pile of rubbish, masquerading as something better and requested a refund..

ADVICE FOR PEOPLE WITH SERIOUS INTENT.  Whilst I have a good range of Ancient, Medieval, British & Proclamation period coins, I often sell Australian coins 1910-1964 in the lower to mid range price bracket, where I feel happy to be.  This is mainly due to the amount of restoration and the subjectivity of grading higher valued Australian pre-decimal coins and banknotes.

I can and sometimes do, sell higher priced coins & notes, eg 1930 pennies, 1923 halfpennies, rare banknotes and rare stamps for you at a fair commission or buy them outright, as I have many contacts amongst the dealer fraternity and know the Australian market pretty well...

There are obviously many other coin and stamp dealers in Australia than myself, so in the spirit of co-operation, I offer in the listing below the names and contact info and a few comments on what they offer...As to how they treat you in business dealings, that is up to them...

NOBLE NUMISMATICS. 169 Macquarie St, Sydney (02)92234578, or 350 Collins St, Melbourne, (03) 9600 0244. These people are THE number one coin re-seller (mostly through Auction, held 3 times a year) in Australia. The sheer scope of what they offer and their first class experience is unmatched in this country. A pilgrimage to Nobles auction is essential for any serious numismatist. It is time-consuming and expensive if you live outside Sydney or Melbourne, but the trip is always worthwhile. Their catalogues (Approx $120 for 3 per year) are a excellent reference on numismatic values.

STATUS INTERNATIONAL.  (I.S Wright) PO Box 2176, Sydney South, NSW, 1235, Phone 02 9267 4525. The premier stamp auctioneer and all round coin retailer in this country, the IS Wright group has shops located in Adelaide, Melbourne, Ballarat and Sydney. Top notch for all-round knowledge and expertise and the range of stock they have available is staggering.. Stamps are mostly available through this group via Status International, their Sydney auctions, held up to six times a year, where you will find  descriptions of each lot, whilst their retail outlets concentrate more on coins and Militaria. If in Sydney and interested in older coins, including ancients, drop into 156 Castlereagh St and do some business with their manager, Dave Allen, a delightful and witty chap, this man is one of the genuine diamonds of Australian numismatics...

STANLEY GIBBONS AUSTRALIA.  4th Floor, 343 Little Collins St, Melbourne, Phone (03) 9670 0086 or 6th Floor, 36 Clarence St, Sydney, NSW 2000, Phone (02)92991300. Mainly sells stamps, sometimes a few coins, mostly by auction. Obviously right at the top of the tree for expertise on stamps, the Australian branch of this famous firm. Terrific range of material and bargains are available, but beware of the auctioneer, an Irishman with a most lyrical voice (haven't they all?) that always seems to get you to spend more than you wanted to...

DOWNIES Group. Shop 11-12 Block Arcade, 98-100 Elizabeth St, Melbourne 3000. Ph (03) 9670 0500.  Offer a huge range of material, but seem to concentrate mostly on Australian related stamps, banknotes and coins, including a large range of mint product. They attend all major coin and stamp shows throughout Australia, often with lots of bargains in tow...Downie's auctions have been a Melbourne institution for years and are worth attending. Centre 22 coins. 22 Centre Place, 259 Collins St, Melbourne. (03) 9650 3687

JOHN PETIT PTY LTD.  By appointment only, Level 67, MLC Centre, 19 Martin Place Sydney, Ph (02) 9235 0888. John is Australia's premier banknote dealer with an unbelievable stock. Talk to him or his intelligent and personable offsider, Tony, if you want to put serious money into banknotes.

MONETARIUM. 111 Princes Highway Kograh, NSW 2217. Ph 02 9588 7111. Deals mainly in higher grade and rarer items, such as gold sovereigns, Australian banknotes and rare Australian coins. Their colour catalogue is always well presented and informative.

KJC Coins. 63 King St, Sydney, Phone (02) 9290 1244. (Kurt Jaggard) Deals mostly in rare Australian and world coins and banknotes. Extensive bullion stock available.

KLAUS FORD NUMISMATICS.  PO Box 238 Niddrie, Melbourne, Ph (03) 93378705. No listing of Australian coin dealers would be complete without giving Klaus a mention. His knowledge of Australian coins is huge and respected. He offers Australian gold sovereigns, tokens, pre-decimal coins, banknotes, plus often has exotic world coins...Mostly deals by mail order or at coin shows, has extensive lists available.  

TONY BYRNE.  A total gentleman and one of the few true numismatic coin dealers in Australia. Really, this man is a national treasure. Catch him and Ed Cummings (what a combination!) together at any ANDA show.  PO Box 436 Kippax Fair, Holt. ACT. 2615. Ph (02) 62549395

Canberra Coin World. GPO Box 256, Canberra City, ACT 2601. Phone (02) 6254 4451. Bill Scheer deals mainly in the quality end of the numismatic market, is long established, and has a magnificent range of Ancient, World and Australian coins and banknotes. Serious buyers only please, prices not for the faint hearted, but has quality to match.

Colonial Coins and Medals. PO Box 281, The Gap, QLD, 4061. Ph (07) 3229 3949. Usually has some nice ancient and medieval coins, pre-decimal Australian coins plus all the latest issues from the mint. Peter is a  fair and reasonable man to do business with, competitive prices.

GREG McDonald.  PO Box 649 Lavington 2641. phone (02) 6043 2733. Australia's foremost numismatic author, this man has contributed an immense amount to the hobby. Also usually has a nice stock of Australian gold and other coins for sale.

Edlins of Canberra. Phone (02) 62487859. Shop, 53 Alinga St, Canberra, ACT. An institution in their own right. Ed has extensive knowledge of Australian and world numismatics. The regular auctions offer a wide scope of coins, notes and stamps. Ask for a catalogue. I have a lot of respect for Ed snr, who helped me and gave me encouragement when I was just starting out as a dealer, something I will always remember.

Nepean Coins and Stamps.  Queen Street, St Marys NSW 2760. Ph: (02) 9833 1618. Alan comes highly recommended from several of his clients, so give him a try if you live in the area.

Prospect Stamps and Coins. Shop 18, 24 Main St, Blacktown, NSW 2148. Phone (02) 9622 1399. Carry an extensive range of the latest proof and mint products, plus a good range of other numismatic items and accessories/books, etc.. If you are missing particular modern proof or mint coins from your collection these are the people most likely to have it.  Another long established firm, passing on the expertise from father to son.. Can often catch them at ANDA coin shows.

PACIFIC RIM COINS. PO Box 5, Wentworth Falls, NSW 2782. Phone (02) 4784 1470. Very few people in this country can grade Australian coins more accurately than Chris.  If you are at all serious about spending large money on quality older Australian coins, he is the man to talk to. Often attends coin shows, also has an extensive on-line stock of Australian and world coins. 

At the Toss of a Coin. Shop 2/219 Unley Rd Malvern SA. Phone (08) 8373 0170. Sells mostly older sporting memorabilia these days, I get most of his coins, but Gerry has a brilliant knowledge of Australian and world coins, especially re gradings. Together with Chris from Pacific Rim (listed above) he would have the best grading knowledge of any dealer I know in this country, in regards to Australian coins and banknotes. Not surprising, as he spent over 10 years on the front counter of a busy coin shop..

Bob and Judy Shaw. PO Box 691, Mooloolaba. Qld. 4557. Ph (07) 5478 0095. Sells usually better grade Australian banknotes and coins, very well informed and has a large range, particularly in Australian decimal banknotes. Offers free list of Australian banknotes for sale and attends major coin shows.

Glen Stephens Rare Stamps. 4 The Tor Walk, Castlecrag NSW 2068. (02) 9958 1333. Long established, very intelligent character, extensive stock, competitive prices, no-nonsense approach.

International Numismatics. PO Box 14567, Melbourne City Mail Centre, VIC 8001. (03) 93266988. Extensive range of coins from ancient to modern issues. Often attends ANDA shows. 

J.P.W. Coins and Banknotes. Po Box 173, Watsonia. 3087. Victoria. Ph (03) 9432 7664. Sells mostly via coin shows, a mid-boggling range of coins, banknotes and collectables. Whether you collect Australia, or some obscure country no-one's ever heard of, John is likely to have something to interest you. He happily sells coins and notes in any price range between $1 and $10000+

Max Stern and Co.  Port Philip Arcade, 234 Flinders St, Melbourne, Victoria, 3000. Phone (03) 9654 6751. Want world stamp new issues? These are THE people to talk to. Very long established and reputable firm.

M.E.F Books. PO Box 523, Narrabeen, NSW 2101. You want books, and you should if you at all serious, well Mark is the man to talk to. Carries an extensive range of books about coins and stamps and other matters. Long established, very experienced.

M.R. Roberts. Wynyard Arcade, Sydney. Very long established firm, sells a wide range of coins including modern issue. Also carries a good selection of books about coins.

Paul Neumann. PO Box 416, Potts Point, NSW, 2011. Ph (02) 9566 4498. Often has interesting foreign coins and banknotes for sale at reasonable prices.

Philatelics Australia. 303 Payneham Rd, Royston Park, SA, Phone (08) 8362 6936. Run stamp auctions two or three times a year, by post. Their catalogue is well worth getting...

Pittwater Philatelic Services. PO Box 478 Avalon Beach, NSW 2107. Ph (02) 9974 5707. Very fairly priced and wide ranging stamp selection available. Often attends ANDA and stamp shows.

Richard Juzwin. 838 Glenferrie Rd, Hawthorn. Victoria. Ph (03) 9818 0209. To the best of my knowledge, Richard and Andy carry the most extensive range of for immediate sale Australian States stamps in this country.  I notice they are still here after 25+ years, whilst a lot of other dealers aren't. Also, their stock of pre-decimal Australian stamps and Australian Territories/Pacific Islands would be hard to beat. They have top quality material and price it accordingly, so bargain hunters would be better off on eBay.... They also sell most other stamps, or can get them for you, and regularly attend stamp shows.

Roxbuy's Auction House. 2nd Level, 231 George St, Brisbane 4000. Phone (07) 3229 9466. Run regular auctions and produce a neat catalogue. Extremely varied range of coins, banknotes, stamps and sundries offered for sale.

Rundle Coins. 214 Rundle St, Adelaide. Phone (08) 82320660. Stef, Denise and George sell a good range of Australian coins, banknotes and phonecards. Usually something interesting and fairly priced to be found. Also, very personable people.

Salamanca Rare Coins. GPO Box 653, Hobart, TAS. 7001. Stephen often has some lovely ancient and medieval coins available

S & T Coins & Militaria. PO Box 7. Avondale Heights, VIC. 3034. Phone (03) 9317 7850. Two of the more colourful and engaging personalities on the Australian numismatic scene. Steele and Ted stock an excellent range of Australian pre-decimal coins and banknotes, also badges, medals, militaria, plus more! They attend most ANDA shows.

Stewart's Stamp Shop/Hallmark. 73 Grenfell St, Adelaide. Ph (08) 82234435. Extensive stamp range, also runs many auctions where bargains are to be found..

Trevor Wilkin.  PO Box 182 Cammeray, NSW 2062. Phone/Fax (02) 9438 5040. Deals in Australian and world banknotes, has good knowledge and is a personable fellow. You can often catch him at coin shows or ask for a list of your banknote interests and I am sure he will oblige. Web page is located at www.polymernotes.com

Universal Coin Company, 11 Centre Place, Vic 3000. Ph (03)9654 2997. Good range of Australian and World coins and banknotes, plus albums, accessories, etc. Peter, you are looking sensational these days..

VP Coins. Vic Power. Shop 2b, Central Fair, 48 Creek Rd, Mt Gravatt, QLD 4122. Ph 07 3216 8711. Wide range of coins and banknotes, including better quality Australian pre-decimal notes. Runs regular online coin auctions at www.vpauctions.com

YE OLDE COIN CO.   PO Box 271, Para Hills, SA 5096. Phone Midday to 7 pm Mon/Sat - 08 82816615.  Egotist that I am, how can I fail to have the last word? Ye Olde Coin Co presents a very attractive and varied range of ancient, medieval and historical coins from 500 BC to 1900 AD. Also keeps a good general range of Australian pre-decimal coins, banknotes and stamp collections, in the more sensible price range, plus coin and stamp albums and accessories. Australian Numismatic Dealers Association (ANDA) Member.

Here is a coin link for British & World coins - based in the UK -  http://www.petercoins.com

There are dozens of other coin and stamp dealers, including some major ones, that I don't have contact details to hand as of now, this list represents a number of people, most of whom I have had dealings with over the years...Will add more names as I get more contact details together from the mess that is my address files.

Perhaps the most important investment advice I can offer, again,  is BOOKS.
Knowledge is everything in stamp/coin collecting, if you are not prepared to spend money on books, catalogues, magazines, etc to research your field then what hope have you got?? I have available, or can order, most major numismatic or philatelic publications. Also, I often have cheap, relevant, 2nd hand books and journals so please ask on the field you require and I will try to help. Or contact M.E.F books, as listed above.

If you don't care for the history and romance of stamps and coins, then don't invest in them, because nine times out of 10 you will get burnt.

As a hobby, I can't find anything I'd rather be doing.

Richard Welling.

Adelaide, 2006.