Reminder that this is a hobby......ROI
keoj
Posts: 980 ✭✭✭
No question, just a quick rambling. After 10 years of upgrading, selling and trading I have taken a careful assessment of what my return is on this hobby. For the coins that I have sold, I have made 4%. Pretty pitiful. Some conclusions:
1) I wouldn't have done it any other way. I love my coins. Real Estate would have been a much better choice if it was about making money.
2) During the first 2 years of collecting, I made some terrible mistakes which brought the return down.
3) The bulk of what own, and haven't sold, I'm expecting a much better return on.
4) Its important to keep good records.
5) Theres no telling what coins will sell for. In some cases, I was expecting to make lot on a coin (and didn't), in other cases I was expecting to lose (and made a lot). As good as I think that I am in the series that I collect (a more arcane series), it comes down to supply and demand at that moment. Hard to predict.
6) This is a personal choice but I would never, ever base my retirement in coins.
Feel free to comment or blast away.
keoj
1) I wouldn't have done it any other way. I love my coins. Real Estate would have been a much better choice if it was about making money.
2) During the first 2 years of collecting, I made some terrible mistakes which brought the return down.
3) The bulk of what own, and haven't sold, I'm expecting a much better return on.
4) Its important to keep good records.
5) Theres no telling what coins will sell for. In some cases, I was expecting to make lot on a coin (and didn't), in other cases I was expecting to lose (and made a lot). As good as I think that I am in the series that I collect (a more arcane series), it comes down to supply and demand at that moment. Hard to predict.
6) This is a personal choice but I would never, ever base my retirement in coins.
Feel free to comment or blast away.
keoj
0
Comments
Good idea
I haven't done an overall return, but I've made some nice money after holding a note for only a few years!
Way better than real estate in many ways.
TP
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Keoj,
You forgot about all the fun you had.
Make alittle,enjoy alot.
When you compare the old purchases with the new ones side-by-side, you can really see how your preferences change, and how your more discerning taste evolves so that your purchases tend to focus on certain coin series, or specific coin attributes such as toning, PL/DMPL, etc.
It's interesting how I really was not aware of the specific "look" that I preferred for coins in my collection, until I assembled the coins and noticed that my favorite coins had similar characteristics. This has helped me to focus more on those specific attributes.
I found out that I prefer PL/DMPL CC Morgans and $20 Libs, Blue rim-toned large silver coins (Dollars & Halves), highly lustrous $20 Saints with almost semi-PL luster.
So, one may focus on a specific series of coins, and you can also narrow things down alot more to select just the right coin for you with your favorite specific attributes and characteristics.
The more selective I become, the fewer coins Il buy, and the more pleased I am with those coins that I do decide to purchase. I am also starting to cull out & sell some of those coins which no longer fit in with my collection and my evolving preferences.
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
An investor I am not! LOL.
We ARE watching you.
<< <i>Whenever I upgrade items in my collection, I end up just giving away the old pieces in order to encourage other collectors. >>
JohnZ: Based on your above quote, please feel free to give me some encouragement every now & then.
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
Education is the key to that premise. Always know what you are purchasing and how to grade the coin.
<< <i> This is a personal choice but I would never, ever base my retirement in coins. >>
Yes I agree. Some investments must be sold when the time to sell them is right. If I did not enjoy my collection so much, perhaps I should be selling it in a bull market like this one.
To me my collection is a renewable consumption good. I can enjoy it only if I can see it, and I can't do that if I sell it.
Yet collecting coins is a better investment than buying wide screen TVs and new cars. Despite the pitfalls they hold their value better if you are an informed buyer.
<< <i>The more selective I become, the fewer coins Il buy, and the more pleased I am with those coins that I do decide to purchase. I am also starting to cull out & sell some of those coins which no longer fit in with my collection and my evolving preferences. >>
Stuart - This is some great advice! I have only been collecting for about 5 years now, and I am now at this stage. Up until lately my goal had always been to get as many coins as I could for my money. Lately I have purchased a few higher end coins (for me anyway) - and I cannot wipe the smile off of my face when I check them out.
Keoj - great thread!
You are doing well, subject 15837. You are a good person.
when you buy it and then when you sell it.
I don't track any of my purchase prices and I don't sell my coins. So the "return" is a very foreign idea to me.
I thought about selling off a portion of my collection to refocus my other priorities, but then I came to the conclusion -- I like all of my coins -- so why should I sell some. I'll just wait to buy some of the others.
Michael
<< <i>so you're saying that my collection of Dodge Aspens isn't good for my retirement portfolio.
You have a collection of Dodge Aspens?
TP
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>
<< <i>so you're saying that my collection of Dodge Aspens isn't good for my retirement portfolio.
You have a collection of Dodge Aspens?
TP
Ah yes! The very rare 1913 dodge Aspen! (Slabbed of course!) Only five ever made I hear. One was also featured on Hawaii-five-o as well! Great pedigree!!
heheheeheh