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Do you feel guilty buying coins?
DisneyFan
Posts: 1,722 ✭✭✭✭✭
Assuming that it wasn't a "steal," or way over price guides, do you feel guilty when buying a coin?
Do you feel guilty buying coins?
This is a public poll: others will see what you voted for.
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Wife putting you on a guilt trip?
If - and when - I buy a coin, I do not feel guilty. I feel good about acquiring something I like and enjoy. Same way I feel with other acquisitions. Cheers, RickO
I have worked hard and enjoy collecting and no one in my family sacrifices anything by my collecting (other than of course having to listen to me talk about coins). And collecting gives me pleasure and happiness which I deserve!
At the same time, there is a lot of trouble, strife, and need in the world and instead of "doing good" I spend a lot of money on bits of metal that sit in a box. For the cost of one coin I could change someone's life for the better.
So yeah, I'm conflicted.
EDIT - I'm flying to the Long Beach show today to buy more coins. Perfect encapsulation of these feelings.
Never. If I'm buying a coin it's because I want it, I can afford it, and my wife usually encourages it. She would have me buy more than I do because she wants me to be happy. Great wife, great life!
TurtleCat Gold Dollars
NO guilt feelings.......I don't know what I do or do not deserve, but certainly no guilt over enjoying coins.
I like to treat myself. I don't feel guilty because I love the coins a pick out to buy.
Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP
I feel guilty if I DON'T buy coins.
How else are the poor coin dealers supposed to afford to be able to live?
It's part of my Entertainment Budget. I dont feel guilty about buying groceries either...
That said... it's one of the first things I'm ready to cut back on should the need arise. With inflation at record levels and two adult children living with me, its still discretionary spending.
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’m with @lkenefic. I budget for it and enjoy it very much. I have a very low level of what I think I “deserve” but when there’s money available to allocate to coins it’s just an expense that brings me pleasure, like the frozen fruit I bought for the kids last night or the 12 tacos for $10.
It’s a low priority, but not one that makes me feel guilty at all (I’ve had regrets, but that’s a topic for another poll).
I think inflation is going to get much worse before it gets better and diversifying some of my financial assets into buying quality tangibles such as rare US coins is a prudent investment.
Worry is the interest you pay on a debt you may not owe.
i deserve it. im not going to blow it on rent (yet)
there are things i feel guilty for, buying numismatics ain't one of them.
tbh, i usually feel guilty for not buying MORE!
buying coins is something i have done since 2003 no guilty feelings what so ever
Coins for sale at link below
https://photos.app.goo.gl/TyJbuBJf37WZ2KT19
Interesting that the op did not vote in his poll.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I'm semi-retired and saved money for retirement. My hobby is a joy and part of living. I have no conflict with enjoying what I earned.
Now, that said, I did just make a big purchase that made me uncomfortable simply because it was outside my normal purchase scope. I'm enjoying it's beauty.
only after the one i let get away.
My collection is primarily funded by my part time job. No worries.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore...
I track what percentage of my assets are in rare coins as opposed to other assets and investments and have limits on how much is in coins/related (precious metals) at any one time.
I will give up the hobby when buying a coin causes guilt. I enjoy each coin I buy. I do feel guilty selling them for upgrades.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 35 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I'm happy I have guilt when I make a purchase, it's just a small part of being a good money manager. I have some expensive hobbies; coin collection isn't one of them.
I'm a titewad.
In that I like to know where the $ is going.
I keep a loose budget, in that I know what most things run me each year (generally). But my hobbies tend to be out-of-budget "rainy day" funds. Having 1 income, I try to not run amok with spending; retirement is looming on the horizon.
My other hobby is guitars and glad I slowed down chasing gear there, but traded it for chasing this hobby in the last few years, back -filling things I may have missed when 1st issued. (Most of you are WAY more serious about it than I am.)
I get the guilty pang when I buy bigger ticket items, like the 95W proof ASE from HA this year. But I take solace in that it completes the proof ASEs I own. That palladium eagle really takes a bite each year too, but ... love the design.
I get a similar feeling when I need to do big-bux home improvements too, like the $4k to re-pave the driveway. I try to set aside the funds for something like that before I get the work done. But after its all done and paid for - aaahhh, I can enjoy the results.
I like the question but I can't let feelings in the way. It's just business.
Or rather; I never feel guilty buying coins, because I am guilty of buying coins.
The only time I have another thought was on three occasions when I bought a coin - because my mentor said it was okay - when I thought it wasn't. I was right each of these three times.
Moral of the story. Your mentor may know more than you do, but that's more often than not, not always.
"Seu cabra da peste,
"Sou Mangueira......."
Tell ya what I almost feel guilty about is when I submit coins for people who don't believe when I say " it's a problem", but they insist on submitting. Seems a waste of hard earned money for a "genny".
Never guilty for a purchase. They’re all thought out and can always be resold
In the beginning--it felt right, but now, I ask myself: "How many coins does one person need??"
I thought that finishing my Walker set would give me some closure.....But instead, I now find myself looking at other series....
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
Any questions?
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
Never... I am not feeling guilty for continuing a numismatic journey that has nothing but various paths to pursue that can begin and end as my interests dictate
Experience the World through Numismatics...it's more than you can imagine.
I have no problem buying coins. In fact it's something that is supported by my wife. She understands them pretty good. It's guns I struggle with. I can't seem to sell and I just keep buying and she gives me hell every time she walks into my office and is surrounded by my pretty little hole punchers.
bob
No guilt here...I figure the stress release from collecting has has saved me far more money in unspent medical bills than my collection will ever amount to.
No guilt whatsoever. To me my coin purchases are for my hobby and they're recreational. I don't view my collection as an important part of my investment portfolio; though I do value it as an asset. If I was buying coins as investments then I think I'd feel guilty for not being better at managing my assets.
I would have voted “no guilty feelings”, but I don’t like the “I deserve it” part.
I do not spend large amounts of money on coins. Generally, most purchases these days are under $50. or $100.
I do have expensive and key coins in my collection that I purchased years ago before I retired.
I wouldn't want to influence others' votes, one way or another. : )
Appreciate everyone's votes and comments
Not at all! It's my money to do what I want with.
No, not at all. Everyone needs a hobby, and I have to believe that coin collecting is cheaper then playing golf 2/3 times a month or buying a boat...
Also, other then a few coin shows/shops, coin collecting is a hobby that pretty much keeps you at home...
No worries. I just shop with this guy . . . . . . .
Z
Busy chasing Carr's . . . . . woof!
Successful BST transactions with: Bullsitter, Downtown1974, P0CKETCHANGE, Twobitcollector, AKbeez, DCW, Illini420, ProofCollection, DCarr, Cazkaboom, RichieURich, LukeMarshall, carew4me, BustDMs, coinsarefun, PreTurb, felinfoal, jwitten, GoldenEgg, pruebas, lazybones, COCollector, CuKevin, MWallace, USMC_6115, NamVet69, zippcity, . . . . who'd I forget?