Poll: How much do you spend annually on coins?

LincolnCentMan · December 22, 2006 1:50AM

Their was some question in another post as to the hypothetical buying power of the forum members as a collective unit. I thought it'd be interesting to create a poll out of it and see if we could extrapolate an estimate out of it. Please give a good solid estimate so that the data isnt skewed.

Thanks,
David

Edited to add: If your number is over a M, you're welcome to PM an amount to me and I'll figure yours into the average. Any amounts PM'd to me will not be disclosed to anyone.

richardshipp · December 22, 2006 2:03AM

More than I should have and less than I wanted too.

LincolnCentMan · December 22, 2006 2:07AM

More than I should have and less than I wanted too.

Amen to that.

-David

Whitby · December 22, 2006 2:08AM

well, gee. Let me thnk about this.

The big diesel rig rolls up to the lawn. Dumps all the money on the lawn and then, I go nuts. At least 3 times a day. Oh yeah.

Otherwise, what would the result show?

STONE · December 22, 2006 2:09AM

A voting YN remember.

zenny · December 22, 2006 2:09AM

Any PMs yet???????????

Coxe · December 22, 2006 2:09AM

The granularity doesn't work for this poll and it should be logarithmic. I suppose some folks have budgets they do year after year, but my spending is never consistent. $0-$100, $101-$1,000, $1,001-$10,000, $10,001-$100,000, >$100,000 would have been better bins.

originalisbest · December 22, 2006 2:10AM

Under a thousand.

LincolnCentMan · December 22, 2006 2:14AM

The granularity doesn't work for this poll and it should be logarithmic.

How does making the poll less reflective of actual amounts spent make it the poll more accurate?

Any PMs yet???????????

Sorry, I cant tell you one way or the other.

-David

GRANDAM · December 22, 2006 2:16AM

Too DANG MUCH!!!!!

GrandAm

Coxe · December 22, 2006 2:27AM

<< The granularity doesn't work for this poll and it should be logarithmic.

How does making the poll less reflective of actual amounts spent make it the poll more accurate? >>

Few people I know of buy with the level of consistency shown here. The pol was a good idea though. Someone, for instance, who might spend $500/week usually, could be in the $17,500 up through the $35,000 pigeonholes depending on the year. Some of us who spend considerably more, do so on a highly variable number of significant purchases over the course of the year. One purchase of a coin for $50K or $100K could come form a dealer in December or and auction in January and change things completely for that year. The big buys are often highly selective and arise on opportunities and the other ones don't contribute much at all.

pharmer · December 22, 2006 2:31AM

PM sent.

ziggy29 · December 22, 2006 2:48AM

This year was an anomaly for me because we owned two houses for seven months and cash flow was horrible in that time until we got our old home sold last month. So I selected the pace I expect to be able to pursue in the years ahead as a better indicator moving forward.

Russ · December 22, 2006 2:49AM

On a net basis, less than zero.

Russ, NCNE

silverpop · December 22, 2006 3:28AM

Between $50 to $100

Bear · December 22, 2006 7:24AM

Let us assum that there are 200,000 collectors out there

and the number of folks here who respond on a somwwhat

regular basis is 200. That means our views represent 0.1% of

the total. Thus we are insufficient to represent a statistically valid

sample. That being said, as a knowledgable grouping of collectors,

we could in fact be accurate in our opinions, it is just not a statistical

certainty. We shall see what we shall see at the closing of the auction.

The members of this Forum do represent small, medium and large dollar

collectors. The opinions of this Forum do hold great merit, on both the pro and con

sides of any discussion. Because we, in a mority opinion, may

differ with the trends of the market at any given

time, we may, in fact, be anticipating the future trends of the coin market.

Scioto · December 22, 2006 7:29AM

Face value of the 1, 5, 10 and 25 cent coins P & D I find in change. $2.82 if it's a good year.

BobaFett72 · December 22, 2006 7:30AM

<< Thus we are insufficient to represent a statistically valid sample >>

I would disagree, only because the polls on Tv, in newspapers etc usually use a sample size of about 800-1100 people. if you were able to generate that kind of response (over 800) you might get a good gauge of the kind of money involved with forum members.

53BKid · December 22, 2006 7:57AM

Nope, we're totally irrelevant.

(BobaFett72: So there's no confusion, this is said tongue in cheek)

Baley · December 22, 2006 8:25AM

Ha! once again, I vote with the plurality!

CalGold · December 22, 2006 8:30AM

Shouldn't the question be "net" purchases. In other words if you sold a coin for $100 and used the proceeds to purchase another coin for $100 you are net zero.

Also this poll should exclude dealers, both real and wannabes , and anyone else who bought for resale, inlcuding all of you flippers who are hoping to unload your most recent gold and platinum eagles purchased from the mint.

CG

granpagraf · December 22, 2006 8:31AM

I am fortunate enough to be able to spend My Social Security check on coinage! $1250 a month = Fifeteen grand, give or take a few hundred!

53BKid · December 22, 2006 8:33AM

<< I am fortunate enough to be able to spend My Social Security check on coinage! $1250 a month = Fifeteen grand, give or take a few hundred!

>>

That is cool. I hope to be there someday.

By your moniker, I assume you have some very fortunate grandchildren!

mrpaseo · December 22, 2006 8:44AM

Are you including shipping in the numbers? If so...then...um... $0

Just kidding, a little more than that, though all my money on coins this year has been spend in the past 10 days....

Dog97 · December 23, 2006 12:44AM

I imagine the big dealers were the ones that voted million + but if there are that kind of collectors here, then COOL!!
Me I voted $5,000 but it might have been around $2,500. It was a slow year for me. I had other things besides coins on my mind this year.

anablep · December 23, 2006 4:54AM

Prolly $2500 but that is a lot for me to spend in a year on a hobby.

granpagraf · December 23, 2006 5:33AM

<< 

<< I am fortunate enough to be able to spend My Social Security check on coinage! $1250 a month = Fifeteen grand, give or take a few hundred!

>>

That is cool. I hope to be there someday.

By your moniker, I assume you have some very fortunate grandchildren! >>

Yes,
Grandfather, God Father, Uncle to about 25 Neices, Grand Nieces, Nephews, Grand Nieces Brother-In-Law to 8.
Out of that entire bunch, only one collects coins. One of My Great Nephews I think He is 12 or 13, collects Lincoln Cents, and Foriegn coins.
I'm not sure exactly what I will do with my collection someday? Maybe save it for retirement!
Merry christmas to You and Yours

CaptainRon · December 23, 2006 12:27PM

Hmm.. interesting numbers so far.

9 votes for over a mill, I believe if we added all the other resluts togather, we are only at about 4 mill.

I certainly hope a couple of collectors were also the ones spent over a mill, otherwise we are looking at a rather large lopsided swing. In which case that would leave me to believe that there may be a lot of stuff sitting in dealers inventories for a while.

Or perhaps these coins just play musical chairs, between dealers.

This opens a bunch off questions for me.

Poll: How much do you spend annually on coins?

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