Morgan13, as far as I am concerned you have a great investment. I don't care if most here say don't invest in coins, one can say the same thing about stocks, there is risk everywhere. But with your particular situation you get the best of all worlds........enjoyment, something to show for your fun, potential positive investment return (or loss or BE) , knowledge gain and lastly time well spent since all we really have that is truly important to us humans is time on this planet
Wow... this thread is a blast from the past! Short answer... yes, much like anything that's done in moderation is ok, it becomes a problem if you're spending the kid's college fund on coins or going without food... for the sake of the next purchase.
But this can be done at a B&M shop. I think there's another component at play with an auction setting. The thrill of an auction and the dopamine dump when you win are quite alluring and can likely be more "addictive" than just the acquisition itself. But as others have already said... at least you have "something" to show for it. Unless you've drastically overbid on your widget, you should at least be able to recoup some of your money...
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
It's definitely addicting. I started out too broad and wanted everything. To make things right I picked a focus and sold everything else. My retirement is back where it should be.
all I will say is if you are making coins part of your budget. If you prepare and set specific spending limits on the coins you bid on. you are probably just fine.
If you are throwing ,money around without considering your budget or bidding with complete abandon chasing the high of the win rather than the value of the coin. You might have a problem. James
I am glad I came across this thread. Specifically, pertaining to the auction aspect. I am far from a scientist/expert on anything but I do have some experience I supposed. Bidding on/winning auctions releases dopamine. Dopamine is also release when doing things such as sex, playing slots, smoking cigarettes, taking a bump of cocaine, ect. I think especially if you have an history if addiction(like myself) you are more prone to overbidding on a auction or obsessing over a collection in a way that negatively impact your life like using money for food to buy coins.
Personally, I was introduced to coin collecting at a young age and did so until I was 15 or(I am 23 now for context). Around this time I discovered alcohol and women and put coin collecting and other hobbies I had at the time in the back burner. A series of events both in and out of my control began to unfold around this time. To make a long story short when I was 17 I ended up getting severely addicted to narcotics. My life really fell apart. Fortunately, I ended up getting help. I have been sober since June 23, 2021. In addition to getting involved in a program, returning to collecting coins and other hobbies has been instrumental in being able to improve my quality of life. Researching, purchasing and working on completing sets has been a very healthy outlet for. I am wary about getting auction fever but love the hobby more than ever. In a nutshell balance is important but there are definitely way worse addictions. My apologies if the comment is too far off topic/against the rules/airing my personal problems out. Hope this helps
My problem isn't budget, it's amount of time I spend surfing auctions for new listings that I "need". I check most every day, and read boards like this one, it is distracting from other things I should be doing.
As for amount of actual coins, basically I have a rule that amount in = amount out, for any new acquisition something else has to go. Wouldn't want to cross the line over to 'hoarder'.
Comments
Morgan13, as far as I am concerned you have a great investment. I don't care if most here say don't invest in coins, one can say the same thing about stocks, there is risk everywhere. But with your particular situation you get the best of all worlds........enjoyment, something to show for your fun, potential positive investment return (or loss or BE) , knowledge gain and lastly time well spent since all we really have that is truly important to us humans is time on this planet
Wow... this thread is a blast from the past! Short answer... yes, much like anything that's done in moderation is ok, it becomes a problem if you're spending the kid's college fund on coins or going without food... for the sake of the next purchase.
But this can be done at a B&M shop. I think there's another component at play with an auction setting. The thrill of an auction and the dopamine dump when you win are quite alluring and can likely be more "addictive" than just the acquisition itself. But as others have already said... at least you have "something" to show for it. Unless you've drastically overbid on your widget, you should at least be able to recoup some of your money...
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.
Idk but on days when I get to go to an auction, buy some coins, AND get lucky….. that s a good day.
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Sunshine Rare Coins
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Throw a coin enough times, and suppose one day it lands on its edge.
It's definitely addicting. I started out too broad and wanted everything. To make things right I picked a focus and sold everything else. My retirement is back where it should be.
all I will say is if you are making coins part of your budget. If you prepare and set specific spending limits on the coins you bid on. you are probably just fine.
If you are throwing ,money around without considering your budget or bidding with complete abandon chasing the high of the win rather than the value of the coin. You might have a problem. James
I miss Bear.
"Got a flaming heart, can't get my fill"
It can be, if you're buying coins with your food money! 😂 🤣
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
Coin collecting saves lives!!! Add in good food + loving pet companion + coffee and you are all set.
NFL: Buffalo Bills & Green Bay Packers
Collecting could not be additive because it is a passion which we say hobby.
Yes fake collecting could be addictive when profit or loose is the game.
I do not emphasis on dealers proffession witch is a combination and also living.
NEVER ARGUE WITH AN IDIOT.
FIRST THEY WILL DRAG YOU DOWN TO THEIR LEVEL.
THEN, THEY WILL BEAT YOU WITH EXPERIENCE.
MARK TWAIN
I am glad I came across this thread. Specifically, pertaining to the auction aspect. I am far from a scientist/expert on anything but I do have some experience I supposed. Bidding on/winning auctions releases dopamine. Dopamine is also release when doing things such as sex, playing slots, smoking cigarettes, taking a bump of cocaine, ect. I think especially if you have an history if addiction(like myself) you are more prone to overbidding on a auction or obsessing over a collection in a way that negatively impact your life like using money for food to buy coins.
Personally, I was introduced to coin collecting at a young age and did so until I was 15 or(I am 23 now for context). Around this time I discovered alcohol and women and put coin collecting and other hobbies I had at the time in the back burner. A series of events both in and out of my control began to unfold around this time. To make a long story short when I was 17 I ended up getting severely addicted to narcotics. My life really fell apart. Fortunately, I ended up getting help. I have been sober since June 23, 2021. In addition to getting involved in a program, returning to collecting coins and other hobbies has been instrumental in being able to improve my quality of life. Researching, purchasing and working on completing sets has been a very healthy outlet for. I am wary about getting auction fever but love the hobby more than ever. In a nutshell balance is important but there are definitely way worse addictions. My apologies if the comment is too far off topic/against the rules/airing my personal problems out. Hope this helps
Yes, although in today's world it is much more likely the slab and the label that garner obsession.
My problem isn't budget, it's amount of time I spend surfing auctions for new listings that I "need". I check most every day, and read boards like this one, it is distracting from other things I should be doing.
As for amount of actual coins, basically I have a rule that amount in = amount out, for any new acquisition something else has to go. Wouldn't want to cross the line over to 'hoarder'.
The hobby of kings right?
100% Positive BST transactions
Yeah I think it easily can be. Drugs / drink / work / sex/ etc. All can be used as distractions from your reality that a lot of people want to escape.
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