I'm a collector only, and I do " compete " in the Registry. Only debt I incur is when a certain high end Registry member ( no names ) offers me his 2nd's when he upgrades. He gives me time to pay for the coin. I've never taken more than 30 days. As for my coin budget, had an opportunity to work alot of overtime a few years ago. Normally a 24 on, 48 off schedule. Worked 2 1/2 years of double shifts. 48 on, 24 off. Wifey was fine with it as she got more $$$ for the household budget and I had the funds to upgrade and expand my collection. I worked for it and am very happy with the results. OCD ? Yea probably so.
@DisneyFan said:
I'm reminded of the quote from Benjamin Graham's (Warren Buffett's mentor) "Memoirs."
"Living well within one's means is the most brilliant financial strategy."
Thanks @jabba - this has been an interesting discussion. It's in discussions such as this that I realize interest in knowing just how my view on living and economics in general fits in with what others believe. My knowledge of the real world (of our group) has been expanded.
@jmlanzaf said:
I feel like the OP's issue isn't coins, it's OCD.
OCD?
As a previous poster said ...
To be real honest here, the use of 2 or 3-letter alphabets for everything can be confusing at best,
If say the OP (original poster) was to at the introduction of a alphabet abbreviation would follow it with (description) then it would carry all the way through through the thread.
So, like I did with OP above, if I was to introduce say RPM, I would do this RPM (re-punched mint mark) but only one time!
I think everyone's economic situation is going to be a little different, thus their approach to collecting is also going to be different.
Other than my house, I'm now debt free for the first time since I was in my early 20s! It took me over 3 years of NOT collecting to pay off $16k worth of credit card debt on top of my other bills (like car payments, etc). During this time, I refocused my collecting interests and sold off some of the residual collection that survived the 2012 purge. This was no easy task, and in my situation, it took a divorce to get "refocussed". Getting laser-focused on paying off debt and adhering to a budget hasn't been easy, but the pay offs have been huge. In the past, if I ever got a windfall of cash, a little of it would go to servicing the debt, but the main proportion would be used to buy some perceived need of the moment... to the point where we never had savings (oh, I now have savings) to manage the "pitfalls of life"... car repairs, storm damage to the house, etc.
As far as managing your "wants" when a lot of material hits the market all at once and you can't resist the urge to put it all on a credit card... I use the logic of expense of servicing that debt. If I can pay it off the next month and avoid an interest charge, I'll do it. If I can't, I'll calculate how much more money I'll be spending on interest charges and then it's simple arithmetic to figure out if that deal is worth it. Perhaps this approach is the evolution of being in CC debt for over 30 years.
Anyway, I've finally reached a point where I got a windfall from this last tax refund and I was able to buy a significant piece for a Box of 20... it can happen. I wish all the best...
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
@jabba said:
Every since I had to sell the vast majority of my coin collection (not the beaver) I feel adrift. I want to get interested in another series. I lived my quarters collection and got it up to number #5. I put a lot of stuff on credit because I don’t have self control. well I’ve finally got all that debt payed off. My main problem is I can’t seem to collect slowly if a lot of product is available to buy at one time. If product isn’t available like my beaver collection it’s not an issue I just keep looking.
I don’t trust my self to collect I never want to get into debt again! Anyone have this issue?
What I did was find more less expensive, hard to find collections.
For example, when I first started collecting Lord's Prayer Medalettes from George Soley, I was told they weren't worth anything. It didn't matter too much to me because it was cheap and fun.
You answered your own question, I believe. Collect something difficult to find, but not expensive. Like circulated, slabbed seated dimes. It is surprisingly difficult to find nice straight graded examples of many dates. It will take you years, but you can have a lot of fun hunting.
@Zoins Is that a coin or token? What is the country of origin? What do the letters on the reverse stand for?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@PerryHall said: @Zoins Is that a coin or token? What is the country of origin? What do the letters on the reverse stand for?
It's a circa 1857 token from the Hudson's Bay Company operating in "Canada Province" from before Canada was a country. I believe it's a fur trading token that's worth half a beaver pelt, but I'm not 100% sure.
If one is into beavers, Canada and Albany, New York have rich numismatic histories.
Thanks Zoins. Thanks for the link.
Beavers, transportation tokens and such. Had to slow the ase habit 😉🙀🦫
Can’t forget Oregon when talking beavers and ofcourse Beaver Falls, Pa.
I've used credit cards to buy coins. In fact, just recently paid all of it off and it feels great to be debt free. I would do it again if something special comes my way and that's the only way to pull it off, but I'd rather not use credit again for coins if I can help it.
Comments
I'm a collector only, and I do " compete " in the Registry. Only debt I incur is when a certain high end Registry member ( no names ) offers me his 2nd's when he upgrades. He gives me time to pay for the coin. I've never taken more than 30 days. As for my coin budget, had an opportunity to work alot of overtime a few years ago. Normally a 24 on, 48 off schedule. Worked 2 1/2 years of double shifts. 48 on, 24 off. Wifey was fine with it as she got more $$$ for the household budget and I had the funds to upgrade and expand my collection. I worked for it and am very happy with the results. OCD ? Yea probably so.
Thanks @jabba - this has been an interesting discussion. It's in discussions such as this that I realize interest in knowing just how my view on living and economics in general fits in with what others believe. My knowledge of the real world (of our group) has been expanded.
OCD?
As a previous poster said ...
To be real honest here, the use of 2 or 3-letter alphabets for everything can be confusing at best,
If say the OP (original poster) was to at the introduction of a alphabet abbreviation would follow it with (description) then it would carry all the way through through the thread.
So, like I did with OP above, if I was to introduce say RPM, I would do this RPM (re-punched mint mark) but only one time!
I think everyone's economic situation is going to be a little different, thus their approach to collecting is also going to be different.
Other than my house, I'm now debt free for the first time since I was in my early 20s! It took me over 3 years of NOT collecting to pay off $16k worth of credit card debt on top of my other bills (like car payments, etc). During this time, I refocused my collecting interests and sold off some of the residual collection that survived the 2012 purge. This was no easy task, and in my situation, it took a divorce to get "refocussed". Getting laser-focused on paying off debt and adhering to a budget hasn't been easy, but the pay offs have been huge. In the past, if I ever got a windfall of cash, a little of it would go to servicing the debt, but the main proportion would be used to buy some perceived need of the moment... to the point where we never had savings (oh, I now have savings) to manage the "pitfalls of life"... car repairs, storm damage to the house, etc.
As far as managing your "wants" when a lot of material hits the market all at once and you can't resist the urge to put it all on a credit card... I use the logic of expense of servicing that debt. If I can pay it off the next month and avoid an interest charge, I'll do it. If I can't, I'll calculate how much more money I'll be spending on interest charges and then it's simple arithmetic to figure out if that deal is worth it. Perhaps this approach is the evolution of being in CC debt for over 30 years.
Anyway, I've finally reached a point where I got a windfall from this last tax refund and I was able to buy a significant piece for a Box of 20... it can happen. I wish all the best...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
I came here for a good argument!
Go wash your hands !!
What I did was find more less expensive, hard to find collections.
For example, when I first started collecting Lord's Prayer Medalettes from George Soley, I was told they weren't worth anything. It didn't matter too much to me because it was cheap and fun.
See more here:
https://forums.collectors.com/discussion/1021607/george-soley-medals/p1
You answered your own question, I believe. Collect something difficult to find, but not expensive. Like circulated, slabbed seated dimes. It is surprisingly difficult to find nice straight graded examples of many dates. It will take you years, but you can have a lot of fun hunting.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
Another option is to double down, or quadruple down, on beavers
@Zoins Is that a coin or token? What is the country of origin? What do the letters on the reverse stand for?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Beavers !!!!😉🙀🦫
🎶 shout shout, let it all out 🎶
It's a circa 1857 token from the Hudson's Bay Company operating in "Canada Province" from before Canada was a country. I believe it's a fur trading token that's worth half a beaver pelt, but I'm not 100% sure.
If one is into beavers, Canada and Albany, New York have rich numismatic histories.
Here's the cert:
https://www.pcgs.com/cert/37616564
Thanks Zoins. Thanks for the link.
Beavers, transportation tokens and such. Had to slow the ase habit 😉🙀🦫
Can’t forget Oregon when talking beavers and ofcourse Beaver Falls, Pa.
🎶 shout shout, let it all out 🎶
I've used credit cards to buy coins. In fact, just recently paid all of it off and it feels great to be debt free. I would do it again if something special comes my way and that's the only way to pull it off, but I'd rather not use credit again for coins if I can help it.
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