There comes a time when you just want/need/thinking about selling it all. (Blue Monday)

oih82w8 · January 20, 2019 2:20PM

It may be just the "Blue Monday" thing going on...but it is about that time to sell my agglomeration of coins & currency...after-all do I really "need" them?

Don't read too much into this...I am perfectly fine and not depressed or ill in any way.

Hemispherical · January 20, 2019 2:23PM

As long as it is considered a hobby you should not “need” them....

BryceM · January 20, 2019 2:25PM

Well, it's important to be aware of the concept of opportunity cost.

Just recently I sold a couple of coins and used the funds to upgrade my sound system, which, of course, I don't really need either. I lost a bit compared to what I bought them for, but coins are one of few hobbies that allow you to spend the same dollar more than once.

Smudge · January 20, 2019 3:16PM

Sleep on it.

Gluggo · January 20, 2019 3:29PM

Sounds like to much work to me. A full time thing listing, selling, responding, packaging, shipping, tracking. Pay a Pal charges taxes for some or do you not have to do that burden? Anyways I think I would rather keep buying and let my siblings figure that part out when I am gone fter she goes and opens the safe’s. Wish I could be there to see her eyes pop open!

AUandAG · January 20, 2019 3:33PM

I just saved for my retirement or rainey day................or so they say.
After 50 years of collecting that day came around and I sold off the majority and paid off the house....So, I really didn't need them until that one day came along.

bob

3keepSECRETif2rDEAD · January 20, 2019 3:54PM

...from what I gather you should get ready to list some coins on eBay...you have Beautiful stuff and if I recall correctly you have TrieViews to match...CAC stuff also. You really set yourself up for good results when it comes time to sell so don’t be down and understand that you are never out till you leave earth, so keep your head high and Good Luck to you buddy!

Raybo · January 20, 2019 4:05PM

Wherever my hobby interests lead me I always come back to coin collecting, must be in my DNA.

philographer · January 20, 2019 4:12PM

Do you have an agglomeration or a collection that you’re proud of? Maybe pick what makes you most happy and get rid of the rest. Keep cash and figure out what you want to do next...

WildIdea · January 20, 2019 4:21PM

I think I will have a lot of fun selling my collection some day. Surly getting pieces directly to particular individuals as well as taking a table at a few shows as a collector exiting. That is if nobody in the fam follows my footsteps or I have some emergency first.

I’ve been bored before many times and even to the point the value locked up in my collection starts whispering sweet nothings in my ear and visiting me reaper like in my sleep, taunting me to sell. Usually, getting out some of the pieces and running a loupe across them helps. Never hurts to take a break and/or give another look into some other series or avenue in the hobby. Hopping to another area in the hobby has worked for me up to now. Its pretty common for someone to sell stuff to finance a new interest. A whole world of coin variety out there and I believe it’s impossible to master and study them all.

Whatever you do, take your time.

AUandAG · January 20, 2019 4:32PM

It was fun when I did sell and I paid so little for some of the stuff and realized so much. GSA silver CC's I bought for $30-90 and sold for $150 and up. Rolls of silver I bought a year or so after the run up for next to nothing brought huge money. I made out like a bandit (as did the IRS). Yeah, don't forget that there could be tax ramifications on it all. Keep your records for cost basis or the IRS will say you bought at face value!

bob

bsshog40 · January 20, 2019 4:40PM

I hear ya also. I don't do much collecting anymore. I keep my US Mint subs going just to fill my danscos and proof sets. I rarely buy anything anymore. At 59 and my retirement lost during the last oilfield layoffs, I will probably just keep my collection until I can't work anymore and just sell off to pay something needed off.

Catbert · January 20, 2019 6:08PM

My advice is to keep your collection small and focused on coins that bring a smile. That way it won’t become a burden and you can pull it out occasionally to refresh your interest.

ARCO · January 20, 2019 6:17PM

@oih82w8 said:
It may be just the "Blue Monday" thing going on...but it is about that time to sell my agglomeration of coins & currency...after-all do I really "need" them?

This it the conversation I have in my head every day. I am not sure what drives me to collect, but there is the yang side that drives me to sell with the same fervor. It is torture really.

DIMEMAN · January 20, 2019 6:33PM

Hang in there John...….it's only Sunday!

mapleman · January 20, 2019 7:18PM

@Hemispherical said:
As long as it is considered a hobby you should not “need” them....

Truer words never spoken

Zoins · January 20, 2019 7:31PM

Does your collection still excite you?

Someone here purchased a friend's collection, letting him buy it back in 1 year at 0 interest. Maybe something like that could let you consider how important your collection really is to you.

lkenefic · January 20, 2019 7:33PM

I see it as the "Need" vs. "Want" question.

Do I need coins? No. Do I want them? ...a resounding Yes!

I want them because they're links to small pieces of history, and I'm their temporary curator. That being said, I do have something of an exit strategy to either will certain coins, of sell them off before I leave this mortal coil, or start going blind!

Paradisefound · January 26, 2019 11:02PM

I have many ... many Blue Mondays or Tuesdays or even Fridays too but eventually they became beautiful Rainbow days

Paradisefound · January 26, 2019 11:07PM

I would Drink & Sleep on it

@Smudge said:
Sleep on it.

Walkerfan · January 26, 2019 11:16PM

I am not buying aggressively, at all anymore, but I am still holding and enjoying what I have accumulated over the years. Looking for very few coins and buying less expensive ones. I'm going the Eric Newman route. I'll sell sometime right before my death just to see how I do.

GotTheBug · January 27, 2019 6:04AM

.

shorecoll · January 27, 2019 7:22AM

I've been the oldest living male in my family since my 45th birthday, so I echo that sentiment. I'm just coming to grips with living as long as I have.

keets · January 27, 2019 7:37AM

but it is about that time to sell my agglomeration of coins & currency

a true collector never really sells out, he reassesses and starts fresh.

LeeBone · January 27, 2019 8:04AM

Been there, haven't followed through yet...

hchcoin · January 27, 2019 8:10AM

I have bought and sold my collection multiple times in my life. I actually like selling coins almost as much as buying them. I only have a few things left from when I started over 40 years ago.

Zoins · January 27, 2019 8:10AM

@keets said:
but it is about that time to sell my agglomeration of coins & currency

a true collector never really sells out, he reassesses and starts fresh.

True, but another option is that one could become a true numismatist like our resident author who still loves coins but no longer needs or has a collection.

BillJones · January 27, 2019 8:19AM

I have yet to hit the point where I have wanted to sell everything. I enjoy the hobby way too much, and I know that replacing some of my coins would be difficult.

I have reached the point were buying U.S. coins is mostly off the table for me. The holder and sticker controversies have taken most of the fun out of it.

Some collectors are constantly posing the question, “Does it have a sticker?” Please … Do you really have to have all of your coins approved by someone else before you will consider adding them to your collection? As the old Bob Dillon song went, “Don’t follow leaders; watch you parking meters.

TwoSides2aCoin · January 27, 2019 8:19AM

Studying them is more fun than gathering them. But flipping them is fun, too. I have the most fun with those who squirrel them.

Coins101 · January 27, 2019 8:46AM

I am doing that right now. Kids aren't interested in continuing my collection. So, I figured I would start liquating now rather than having them take my collection to the local pawn shop and get about 50% of what they should get.

Soldi · January 27, 2019 10:22AM

I think threads come and go in waves

GRANDAM · January 27, 2019 10:24AM

@Coins101 said:
I am doing that right now. Kids aren't interested in continuing my collection. So, I figured I would start liquating now rather than having them take my collection to the local pawn shop and get about 50% of what they should get.

Pawn shop 50% ,,,,, you are dreaming,,,,,, try 25% or less.

topstuf · January 27, 2019 10:28AM

For what it's worth. REALLY think about this.

I started a couple years (maybe a year and a half) ago to do this.
I got rid of all the commonly available coins. I find myself missing a few. Not many, mind you, but still.....

You may find that your plan is either great or ...well... too hasty.

I have fewer pieces now but when I take em out and gaze rapturously at em, I say, "Naahhh, don't off that one."

I find too much pleasure in coins that are entertaining to look at.
I also gave the "kids ain't interested" meme a thought or two. Then I figured..... so what?

Some stuff is just too cool to be without.

....wiser, not sadder.

Baley · January 27, 2019 10:39AM

I had a good time and did well selling on eBay and the BST forum 10-15 years ago, and look forward to doing it again someday.

Selling 10 or 20% of the coins, for whatever they bring, would go a long way toward help financing some tough early types, or doing something else interesting with the funds.

Coins are nice in that they're small, and one can just leave them in the SDB for years during breaks. Then, you can get them out any time and resume.

Try that with cars or antiques!

Paradisefound · January 27, 2019 11:05AM

Did you ever come to times when you just want/need/thinking of GIVING some away?

oih82w8 · January 27, 2019 7:55PM

I am sorting out a few "piles" of coins; keepers, sellers and some give-aways. The driving force behind this is that I received a notice from the IRS...and it was not a refund notice...it's time to re-evaluate my holdings. Mostly attributed varieties. There is a local coin show in Apr/May and a larger show in Jun at Colorado Springs.

ricko · January 28, 2019 9:51AM

I am not thinking of selling my coins...I just enjoy them... The money I spend for my hobbies is discretionary income.... and make my life enjoyable. Unless some major issue occurs (and I have most of those covered by various means), I do not plan on selling my coins. I will let my heirs take care of it... and if they do not recoup all I invested, well, that's the way the cookie crumbles...Cheers, RickO

There comes a time when you just want/need/thinking about selling it all. (Blue Monday)

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