The more I learn......... the more nervous I become!

Bustman

There are some very informative threads in this forum. Just finished reading an old thread on AT/NT coins. Just read a thread on "is this coin market really hot". Just read another article on buying coins in the $2000 to $10000 as being the safest bet, another on buying only super rarities. Another on how we are certainly heading into a much worse economy. YIKES!
I don't want to stick my head in the sand, but sometimes too much info can be frightening. I thought I knew a quite a bit about coins, the market, grading, rarity..etc., but after reading some of these forums...... I realize I still have sooooo much more to learn. I have invested a fair amount of money in my collection and I sometimes wonder if I was better off collecting all those circulated coins of little value....just for the fun of it. Buying these medium to high grade rarities with a lot more on the line can be very stressfull !

FC57Coins

Yeah Bustman - but it's fun.

I feel your apprehension as I sometimes try to avoid thinking about the money that I've spent in this hobby. As far as Im concerned it's money flushed down the toilet for the sake of my collecting enjoyment and as therapy for my career stress. As with any investment, I think the safest bet is never to invest into it more than you can afford to lose. If you look at it that way you minimize your stress and maximize your enjoyment. Sure, would I love to own some ANACONDA quality coins sometime in the future? yeah - I'd also like to win the lottery too - maybe then I'd be able to buy that 1834 quarter that I keep going back and looking at.

Hang in there chief - the sun WILL rise in the east tomorrow.

Frank

a2labmom

I find collecting pictures of coins to be much less stressful.

But seriously, I try not to dwell on the financial aspect of collecting (until it comes time to buy). I am collecting for the sheer enjoyment of the hobby and try to spread my interests out among as many areas of the hobby as possible. I am into world coins, US proof sets, statehood quarters, Mercury dimes, heck, I guess I'm a little bit into everything. I collect what appeals to me and what my wallet can afford at the time. Maybe not the best approach to the hobby, but it's what keeps me happy and keeps my stress level rather low. If the hobby ever starts to get stressful for me, I'm afraid that is the day I may stop collecting. My coins help to calm me when I am feeling stressed and I can't imagine them stressing me out.

Bear

Bustman - Whenever you spend appreciable amounts of money on coins, you have risk.
The advantage of this Forum, is to find the reputable dealers and the quality coins that will
minimize that risk. If I learn any more from the people here, I will have to get a bigger
head just to hold the knowlege. Bear

Trime

Bustman,
The anxiety from learning what you didn't know is a really positive step on the road toward being expert. There is no end to this trip. Regarding what to collect. If you read these threads carefully you will glean the notion that coins are not where your retirement money should be ( Doesn't mean that they will not usually increase in value). Collect :1) what gives you pleasure and 2) what you can afford. Most collectors and collections evolve with time. Some get joy from a registry set , others from varieties; others from Whitman Folders filled with coins from circulation; some from limited collections of 2-20 coins that are unique. A 6+ figure collection that is stored unscene in a vault to be sold by your heirs is less fun than a collection of circulated coins that you know and review regularly. One opinion held by many on the issue of what will most likely retain or gain value is rarety, quality and eye appeal. I have learned from experience that this is true.

Bruce

I pretty much agree with 2labmom. I collect just about anything too. U.S. Canadian, world, SAEs Maple leafs. I look at it as my hobby. You spend money on your hobby be it golfing, car racing, horseback riding or coin collecting. The way I see it is if you pay $25 for a round of golf, when you are done you are out $25. Yes you enjoyed it, etc. Not disputing that, but the fact is you are out $25. If you pay $100 for a half day of horseback riding, at noon you are out $100. If you buy a coin for $100, you have that coin. You have it at noon, you have it next week, you have it next year. When you sell it, say you only get $60 for it. I see it as you didn't lose $40, you gained back $60 of your original $100 and only SPENT $40 on your hobby.

Luvdawgs

I like how you think, Bruce

shortdj

I have to agree with Bruce as well. Only I had the boating hobby in mind. It's even more expensive! The most I've ever spent on a single coin is about $80 and the most I've ever spent in one transaction was about $400, so I don't have too much to lose. To me it's like a savings account at the bank. Coins do usually hold their value and don't depreciate as much as boats!

a2labmom

Great philosophy, Bruce.

Nic

You are on the uphill portion of the bell curve. If you keep at it you will soon be on the downhill portion with regards to anxiety. Knowledge is power. Remember the curve never gets to zero and a little "nervousness" keeps it interesting/challenging. K

Conder101

I add one more thing to Bruce's view. I spend at least a coupl hours a day, or maybe say 10 hours a weeks studing my coins, books, writing , searching catalogs, whatever. My hobby is providing me with entertainment. Now what is the value of an hour of entertainment? For my own purposes I place it at $5 an hour. So my coins return to me a $50 a week/$2600 a year return in entertainment value alone even if I don't add anything to them (which I do) or if there is not increase in their value. In the past 30 years my collection has provided me with a $72,000 return in entertainment value alone. And it's tax-free!

newbiecollector

Bruce.........

Very well stated!!

Personally I can't imagine even selling a coin. I guess I am a hoarder who just happens to like some of his coins a little more than the others.... lol...I am probably beyond help (I hope).

Wisconsin

High grade coins are great, but unfortunately when you want to sell them your only real avenue is with one of the major auctions, as they are out of the price range of us average collectors. Yes I do step up and buy an expensive coin from time to time, but usually when one of the nice dealers allows me to pay for it over time. You are limited to the number of people that can cash out a $10,000 coin at any given time.