Your age and buying in this boom market

Catbert

After seeing a few comments on threads referencing one's age (remaining collecting years) as a justification for paying up for nice coins during this booming market, does this apply to you? I think this might generally apply to those on the board who are 60+ who have a diminishing collecting horizon.

I think I'm somewhat influenced by this thinking and, while I don't want to "over pay", I don't want to stop adding a few select coins to my collection.

What say you?

Project Numismatics

Mid-30s here. I’ve been completely smoked on the Stacks auction this week despite bidding above my comfort zone on a few pieces. I have managed to pick up Fairmont pieces in the past when the premium over non-Fairmont CAC gold was much more modest.

More broadly, I don’t plan to over-reach in the current market - there’s no rush and I have other priorities. I collect some moderns as well, so that is keeping me happy while I’m priced out of classic material.

ShaunBC5

I’ll be 40 next month.
I’m still under water on some stuff so bought back around 2006.
I do my best to pay within the market range but don’t want to stop buying just because prices are up. I’m a collector and not a speculator (but also on a budget).
I have a (likely legitimate) fear that if I stop collecting and wait for the market to come down that I won’t get back in later, or at least for a long time. I keep plugging along looking for stuff I like and praying that those funds are never actually needed again (which is why I spent them on coins in the first place).

ricko

I am certainly in the latter segment of age here.... I still collect, however, as I have mentioned before, I am quite selective when making acquisitions. This selectivity is just because I tired of series (done several) and not interested in a lot of varieties (AH Kennedy halves being an exception). Now, the theme, art and condition of a coin is what attracts me. Cheers, RickO

coinandcurrency242

I am in my lower 30's here. I am a collector. I don't mind paying up for a nice piece as long as it is not out of the city the ballpark is in . I got ran over on stacks and bowers. Items I wanted were going for WAY more than price guide. If I can get gold for almost the same price as a coin blown out of the water, I will go with gold. I think people get caught up in the "live" auction part. Once it goes to internet bidding, I am sure it is too boring for a lot of people. I have gotten deals from stacks and bowers on the internet part. Lets see how next week goes.

vulcanize

Fifty this year but not collecting actively for a while now especially with those crazy moon prices and moreover have other priorities like my youngest getting ready to go off to college next year.
Another factor for holding back is the inflation rates - the consumer price index rose by 7.9 percent over last year - Economists from Bloomberg have estimated that the average U.S. household will be forced to spend $433 more a month this year for the same things they bought in 2021 (one will need $5200 more this year to live the exact same life as last year).

https://www.bloomberg.com/news/articles/2022-03-29/u-s-households-face-5-200-inflation-tax-this-year-chart?sref=sBMxP0gT

djm

I'm in my upper 60's. What I have been noticing is that it is taking longer for my coins to get listed in auctions. I was getting paid for sold items 45 days after being received at the auction house. Now the coins aren't being listed for 45 days after receipt. It seems that a lot of collectors are cashing in on the current market conditions. I am only buying certain coins for my collect because I have too many already and it is a race against time to liquidate.

oldabeintx

65 or so years as a collector. If I had no family I would have been more active already. I try to balance purely selfish expenditures against family-oriented expenditures and leaving a decent estate. I've been lucky enough that I can be very active as a collector and still be prudent. Also, my interests are broad enough that I can just move sideways and still enjoy collecting things. I believe my answer is "no". In fact, the shorter the horizon, the less apt I am to spend money selfishly.

Walkerfan

I still have decades ahead (God willing), so I am still a strong buyer.

I pick and choose what I buy, though....I won't pay moon money, anymore.

Type2

I do the same as Ricko. I do flip more then I keep but still adding here and there and I did sell off some of my private collection as well now that prices are higher to buy other assets.

So it will pay me monthly when I retire. Unlike coins that sit and go up in price but I need to sell it to collect the profits. I will receive monthly payments and keep my assets. But I will never stop collecting this is one of the many parts that put me where I’m at today.

You get what you put into it every one should keep collecting it can keep you sharp and alway buy right. I’m 55 but still picking, buying, and trading it’s the only cost affective way to buy coins right.

This is just me dumb Type2 I will pick a coin for let’s say $50.00 turn it into a $150 coin do it two or three times a month then use the profit to buy a coin I want or keep doing this till I get where I need to be to buy the coin I want or wanted. Then repeat after some time you will have some nice coins that cost you $50 and some time but pay off when you sell.

Have fun but stay sharp and buy right,
Be safe everyone.

jdimmick

51 and sold a majority of my stuff last year, been looking at a piece or two in auctions, etc. But being a dealer, even if buying for myself to keep, I won't chase stuff to the moon especially in this market. Been there, done that. When i sold my stuff, most of the coins I bought from shows and/ or dealers direct <. I did good on, the ones I had to stretch and stretch for, at auction was a lost or break even at best even after several years.

Just like in the completed stacks sale, saw two coins I would like to have, but not going to pay stupid money to own them. Even though that what it takes to buy them now. Actually, what I have done since selling my stuff, is if a coin or two comes thru in regular business dealings that sparks a little intrest, I just keep it aside in a separate box to save for later. At this price point, I can always sell down the road and don't have to worry about losing money on it selling via auction, etc.

I don't keep bullion like many of my customers do, Even though its practically 70% of the business now in the shop, I hate the stuff personally, I rather stick a dollar or so in collector coins.

divecchia

I am 58 and still actively collecting and plan on doing so until I lose interest or die, whichever comes first. I do, and have stretched for some coins in this market as long as it is mostly within my budget. I don't really worry about what I will get down the road for the coins as the enjoyment for me is priceless. My coins are purely for my enjoyment and nothing else. If I no longer enjoy them, I will do what I did with my Nolan Ryan collection. I will sell and never look back.

Enjoy the hobby.

Donato

MarkW63

So, this is my take away from this at present! that we're in a sellers market (High selling prices) but not a good buyers markets (No good deal due to inflated prices).
Sort of like the stock market, invest in a down market (buy cheap, sell high).
I've been shopping for just a few earlier Lincoln proofs, 1936 - 1939 and the prices on these are just crazy! I've back to 1937 now and I just can't pay the current asking price for a Proof 36 I've been watching one and its a PF-64RD but its $1,200
I had a goal of completing the Lincoln proofs all the way back to (including) 1936! that coin is a stumbling block right now. I may have to move my goal post to 1937.

coinbuf

Just turned 60 and my collecting strategy has changed some. I am still buying and will stretch now and again, but I'm more mindful that as my wife and I age the possible medical costs have to be weighed against the high (possible bubble) costs of coins now. Mostly I'm sitting it out and will wait and see, I probably should be selling but I'm not ready for that either.

lkenefic

Early 60s here. I can think of 3 coins in the past year that I either compromised on, or stretched the budget to buy. Partly, my calculus was "I'm not getting any younger" but more to the point was my thinking that really good material was few and far between, especially for the early copper pieces I got. I had been looking for years for both a Classic Head Large Cent, and Liberty Cap hopefully in something approaching VF, but the prices on those have gone through the roof in recent years. There comes a point in collecting (at least for me) that you know what's "out there" so when a "maybe less than optimal piece" comes along, that's still decent, you just go for it. This, while realizing that the optimal piece would likely be $1k or more over what you just spent... I can use that money on other coins! The other piece was a nice AU Trade $1 for my 7070... I paid strongly, but not outlandishly...

jkrk

I bought and sold quite a number of DE's (in my limited world) in 2020 and 2021.

This year the price of the De's I want seem to have moved away from my price points. Anybody interested in setting up a go fund me page so I can continue my addiction?

I'm approaching 70 so age is not an issue. I probably still have another 50 years left. LOL

crazyhounddog

I’m 70 years old and at this point I am enjoying my collection as is. I do, from time to time, add to it but very slowly.

asheland

I'm 45 and still actively buying... I just buy what I like and that comes across my path.

ElKevvo

I am at that point where I'll have 2 kids in college this fall so even though I am still buying it is not as much as in the past. I need to start selling more so I can swap coins rather than dipping into the family piggy bank!

K

FlyingAl

I'm 15, and quite possibly one of the youngest on this forum. I've been blessed to be able to make quite a bit off of cherrypicks and such, so a lot of my collection is funded for much lower costs than it would otherwise cost me.

It also helps that my main collecting interests (1936-42 proofs with the exceptions of half dollars) are relatively unaffected by the market boom. A quick glance at current Ebay prices would tend to prove me wrong, but with a little time and effort, one can obtain virtually every date for a rather affordable sum, although the 1936 coins are more expensive than the rest. The key is to wait, sometimes for years (I've been looking for a '39 quarter for at least 2 years now, they are hard to find nicely detailed). This is another advantage of being young.

I think these coins are undervalued anyways, so a little price jump is ok with me. I was recently able to purchase a nice PR65 1942 quarter with great color, contrast, and detail for the date for under a hundred dollars. I was ready to get blown out of the water and won easily, so I consider myself lucky but it also backs up my statement above. These are a relatively forgotten part of the market for some reason.

If by chance I found myself collecting Morgans or Peace dollars, I would be in a world of trouble. I try to strictly budget myself and set aside most of everything I earn for the future, so I wouldn't be able to add many coins a year. I fear these new pricing limits will lock a lot of YN's out of the older (and in my opinion, more interesting) eras of American numismatics. In a lot of regards, the scales are tipped in this market against YNs, but to those who can understand what makes a coin premium quality when compared to another, the scales seem to tip back the other direction. All in all, it doesn't matter to me what my coins sell for as long as I am happy with my purchases. Anything that I may get profit wise is just a nice pat on the back.

pursuitofliberty

Still shy of 60 (although closing fast) and still working until that day ... not willing to pay stupid money and chase games, but I pay strong for what I think are special coins if that's what it takes. In today's market, special coins rarely linger, and they disappear. Sometimes I get blown out, sometimes a catch a (relative) bargain ... but mostly I pay what the market supports for the stuff I like.

Will it remain "hot"? Meh, not sure. But I'd be surprised if some of the prices from the last 10 years come back or drop too much for anything really nice before 1947ish, unless it was trending hard during that time.

fishteeth

Early 40s and still buying but the coin has to be perfect for me to pay today's prices. I keep thinking I should sell and wait out this cycle, but I don't know where I would put the proceeds. So I keep my coins

mavs2583

I'm in my mid 30s and look for examples that I find attractive and are fairly priced. If I'm going to pay over market, it better be a beautiful example. There's too many coins out there to go crazy to fill a hole; if the market is high for a particular series, I'll wait it out. While I don't buy coins as an "investment", if I decide to sell I'd like to get a fair price (making a profit would be nice ).

BillJones

I am over 70, and I enjoy what I have and add what I enjoy. Is my collection large? It is by most standards. But it’s a small part of my assets.

pcgscacgold

Old enough to know it’s time to take profits.

SurfinxHI

My business is just about 10 years old now, and it already knows not to buy in frenzy, as it usually loses in the long run, especially for common date stuff. Now, really nice, upper end coins or those with great color, that might be worth it, but common materials need to be treated as such. Even color cycles in this hobby/business. Sure, they can move up in price, but an OH or an OGH on a common morgan should NOT add 30% at a MS 65. For instance, rattlers are currently doing this, and they are still very plentiful (let alone OGH PCGS holders that are very very plentiful). Thus, I won't chase those.

Surf

privatecoin

43

alefzero

In the 60+ group. I sold out my HUGE hoard of Morgans finally. I do pay up on truly and rare pieces now. I learned over the years that bubbles don't affect them in the same way. Buying those coins sets the new floor for each and the market more often (not always) respects that. There will usually be people out there wanting those coins. Some niches not so much though.

winesteven

I’m 71, and the fun and pleasure I’ve received from this wonderful hobby of ours, especially over the the past eight years, has surprisingly continued to grow!

1. Most of my collecting life I’ve worked on putting together a nice Type Set (reflected by my Registry Dansco 7070), along with my 1936 - 1942 U.S. Proof Set. I completed those sets several years ago.
2. I’m also so very lucky in timing to have put together my Gold Type Set - CAC well before this latest price jump in demand for high grade CAC gold coins. No foresight, no knowledge of this happening, just pure dumb luck!
3. With those three projects accomplished, I still had a strong desire to collect Classic coins, so I then started and completed over the past three years sets that are achievable and/or “short”, and also somewhat out of favor. But that’s OK, as I derive tremendous pleasure - a Classic Silver Commem 50 Coin Type Set, a Two Cent set (only 10 coins needed), a Proof Franklin Half set (only 14 coins needed), a Standing Liberty Quarter Full Head DATE set (also only 14 coins needed), and a Lincoln Wheat RED DATE set (50 coins needed).
4. Still having the itch after those sets were completed, I then started (and I’m now only 10 coins shy of “completion”, but always on the hunt for upgrades) a “special” Indian Head Cent set. For those with the curiosity to see what I define as “special”, make the effort to find my Registry set, and you’ll see what I mean. Putting this set together has been quite a challenge, but the pleasure I have is indescribable!
5. Despite the current crazy rise in auction prices, here’s something every one of us can still afford - I’ve also received so much pleasure, knowledge, and friendship over the past 3+ years by spending a couple of hours each night on this forum. It’s like a drug - I’m addicted!

Steve

nwcoast

Upper 60’s here and similar to some of the previous members in that I still enjoy collecting and am fortunate enough not to be in a position of having to worry too much about finances (for the first time in my life). Now that I’m no longer working my tail off at two plus jobs, I have some time to enjoy my collection, so I’m not going to sell it now. I am however, planning to consolidate some of the volume through selective selling and to purchase fewer really exceptional pieces. Towards that end, I’ll be sending in MANY coins to our host for grading in advance of that selling over the approaching months.

rec78

I am 70 and the coins I have searched for a long time for some, and some I may never get. There is a coin in the $500-$1000 price range that I have been searching for for about 45 years. IF I ever find this coin, I will gladly pay the moon price for it. A friend of mine once said "You may have over-payed, but at least you have it." I thought about this for a while and I said "You know, he's right." After that advice I simply paid the price and collecting became a lot easier and more fun.
I am very happy that I overpayed for a lot of bust, seated and barber coins from 1980-2015. A lot of these are much higher priced now and some may be even un-obtainable (at least for me, price-wised) in today's coin atmosphere. Boom market or not, if I see a coin I want it's mine.

winesteven

@rec78 said:
…….I am very happy that I overpayed for a lot of bust, seated and barber coins from 1980-2015. A lot of these are much higher priced now and some may be even un-obtainable (at least for me, price-wised) in today's coin atmosphere. Boom market or not, if I see a coin I want it's mine.

Wow! You bought a lot of bust, seated and barber coins dated from 1980-2015, no wonder they are priced much higher now than what you paid, and are indeed unobtainable! 😆

Steve

pointfivezero

I’m 13 President’s old but I only remember 12 of them. And I’m aging like a President while trying to add to my old holder collection.

Tim

Cocoinut

I retired 11 years ago, so I'm no youngster, but I'm still buying coins in the hope of completing a few more sets before I depart this earth. I'm now much more selective in what I buy. I don't mind paying a fair price , but the coins I want can usually be found with a little patience, so I don't feel the need to pay more than current market prices.

CoinHoarder

I am in my upper 60s. I currently buy low priced coins here and there. I am mostly into small purchases of bullion and "junk" silver at this stage of my life. I have not made any major purchases in the current boom market.

Onastone

Just into my 60's here. Never sold any coins, but thinking maybe I should. I'd like to put together a box of 20 ( that seems to be a lofty idea) and cut back purchases as prices really seem to have risen.

jmlanzaf

I think age is less important than wealth and risk tolerance or degree of obsession. I mean, seriously, how many people buy a coin thinking they will be upside down for 30 years but they are willing to wait it out?

1630Boston

@Catbert Nice post, nice to further get to know the members here

ReadyFireAim

@jmlanzaf said:
...I mean, seriously, how many people buy a coin thinking they will be upside down for 30 years but they are willing to wait it out?

You just summed up my approach to collecting.

DisneyFan

I'm relatively new to coin collecting. I've always been a collector with a modest income. I'm enthusiastic about what I collect. I started with Indian Heads from circulation. : )

A little later I got hooked on stamps. Built up circulation sets of coins after 1892 from summer jobs through college. Built up comic book collections in college. Sold both to fund a significant stamp collection. Sold the stamps to fund the difference needed for our new home and start my kids' college education funds. Started collecting sterling silver (from coin shops) and oriental rugs. Sold the silver to fund another significant stamp collection. Gave the oriental rugs to my kids to cover their wood floors. Finally sold the latest stamp collection to start collecting PCGS graded coins. I'm now working on a coin set whereby I only can afford three or four coins a year. The missing coins give me a nice incentive of living another 20 years or so. At the same time my goal is to make my collection manageable for my heirs to sell.

leothelyon

All I know is, I'm not dead yet so......I'm still the collector.
But if I had to post a coin.....hmmm?
Best 1961-D I'm aware of.

Leo

BustDMs

Early 60’s and still having fun collecting.

I buy pieces that “speak” to me that I can pay for…..

Boosibri

I just turned 40. I sold most of the coins which I deemed replaceable in 5-10yrs to buy some major coins which are irreplaceable. I will continue to pay up for those special coins and do my best to let the rest pass me buy.

To quench my thirst in between those big purchases I have started my Irish modern set and I have been buying rare numismatic books.

[Deleted User]

43. I'm not currently buying some of the series' that have seen the largest recent increase, been focusing on others for now.

Cameonut

Mid 60's here. There are a few coins that I will stretch for but not many.

Instead, I am using the higher price levels to liquidate much of my non-core holdings.

mpbuck82

I'm 39 and have collected on and off since I was a kid. I mainly buy mint products and slabbed coins for a US type set along with some Morgan Dollars. I especially like Silver Eagles and the new Morgan and Peace Dollars got me re enthused in collecting again.

Proofmorgan

34 here. Using the market to move non-core coins to fund future irreplaceable core coins.

A strong market means some once in a generation coins will likely become available. I plan to be competitive as to not let those opportunities pass.