The cost of keeping coins...

dan1ecu

One of the arguments against having coins as an investment is that it costs money to keep them safe (insurance, safe deposit boxes). I noticed, though, that the average mutual fund has various expenses that total about the same amount of money (or more) for a $10,000 account than the cost of a good sized safe deposit box. You could very easily keep $10,000 worth of coins in one of those boxes. This is kind of reassuring to me because I do look at my collection as an investment and as a hobby. I just wanted to point this out in case anyone is put off by the costs involved with coin collecting.

Dan

OneYearTypes

safe deposit boxes, insurance? what's that???


i'll never understand the concept of throwing beautiful works of art in a dark box hidden away for such long periods.....
carpe diem

Deadhorse

I have 3 safe deposit boxes, less than $100 per year for all three. The part I don't like is having limited access when I want to look over some things again.

I also don't really have the time to go there very often and Saturday is like a zoo at the credit union so I hate going there then unless absolutely needed.

The real costs in coin collecting occurs when you let your heart rule over your head and make impulsive purchases.