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Your coin collection vs. your income

MrEurekaMrEureka Posts: 24,252 ✭✭✭✭✭
in U.S. Coin Forum
Let's find out how devoted you really are...
Andy Lustig

Doggedly collecting coins of the Central American Republic.

Visit the Society of US Pattern Collectors at USPatterns.com.

Comments

  • CratonCraton Posts: 2,670
    Do'h! I misread the question *and* you have added more options. My total collection is worth way less then a years salary when I was working. I haven't worked in almost 6 years now.
  • FatManFatMan Posts: 8,977 ✭
    Define Income please.
  • airplanenutairplanenut Posts: 22,148 ✭✭✭✭✭


    << <i>Define Income please. >>



    Main Entry: in·come
    Pronunciation: 'in-"k&m also 'in-k&m or 'i[ng]-k&m
    Function: noun
    1 : a coming in : ENTRANCE, INFLUX <fluctuations in the nutrient income of a body of water>
    2 : a gain or recurrent benefit usually measured in money that derives from capital or labor; also : the amount of such gain received in a period of time <has an income of $20,000 a year>
    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • FatManFatMan Posts: 8,977 ✭
    Thanks Jeremy. That was very helpful.image
  • airplanenutairplanenut Posts: 22,148 ✭✭✭✭✭


    << <i>Thanks Jeremy. That was very helpful.image >>

    imageimageimage
    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • MrEurekaMrEureka Posts: 24,252 ✭✭✭✭✭
    My collection is worth...

    Define "worth", please. image
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • ColonialCoinUnionColonialCoinUnion Posts: 10,087 ✭✭✭
    These sorts of questions always turn me off.
    Coin Rarities Online
  • SandhawkSandhawk Posts: 1,154 ✭✭✭


    Why not just ask what your yearly income is, and then how many year's of income is your collection worth?? image



    imageimage

  • chuckfarthingchuckfarthing Posts: 158
    Sorry, but the "worth" of my collection has no relation to my income. I collect what I do because it is what I enjoy. As for devotion I can assure you that I scrutinize my change with as much zeal as a high dollar collector might have for their latest MS DCAM R FBL yada yada yada............
  • MrEurekaMrEureka Posts: 24,252 ✭✭✭✭✭
    These sorts of questions always turn me off.

    When the questions are asked in dollars and cents, I feel the same way. But this is different, at least to me. In fact, the results of the poll have been a real eye opener for me.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • airplanenutairplanenut Posts: 22,148 ✭✭✭✭✭


    << <i>My collection is worth...

    Define "worth", please. image >>

    Main Entry: 3worth
    Function: noun
    1 a : monetary value <farmhouse and lands of little worth> b : the equivalent of a specified amount or figure <a dollar's worth of gas>
    2 : the value of something measured by its qualities or by the esteem in which it is held <a literary heritage of great worth>
    3 a : moral or personal value <trying to teach human worth> b : MERIT, EXCELLENCE <a field in which we have proved our worth>
    4 : WEALTH, RICHES

    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • haletjhaletj Posts: 2,192 ✭
    My collection divided by my income is infinity! I have no income... hmm unless selling my duplicates counts as income.

    Edited for a shameless plug.
  • jbstevenjbsteven Posts: 6,178 ✭
    Russ makes nothing per year and his coins are worth about the same. imageimage
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>Define Income please >>



    Thats what you have left from your paycheck after the ducks get it. They deduck for this and they deduck for that. Then the wife deducks her cut!! The leftover is income; usually a very small amount.
    theknowitalltroll;
  • airplanenutairplanenut Posts: 22,148 ✭✭✭✭✭


    << <i>My collection divided by my income is infinity! I have no income... >>

    No, that just wouldn't exist... when your income approaches 0, collection/income=infinity
    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • RGLRGL Posts: 3,784 ✭
    The amount one makes or spends on coins has no correlation to their devotion to the hobby ... there are "collectors" who have several years' worth of income tied up in "plastic" who are not nearly devoted or as knowledgeable as little guys with less than a year's worth of income in their collections. Money does not a numismatist make.
    The Ludlow Collection (DCAM/CAM)
    The Ludlow Brilliant Collection (1938-64)

    image
  • haletjhaletj Posts: 2,192 ✭


    << <i><< My collection divided by my income is infinity! I have no income... >>

    No, that just wouldn't exist... when your income approaches 0, collection/income=infinity >>



    Right unless you're on a projective line, then infinity is an actual point, but you lose the full group structure under multiplication. image
  • 12345678901234567890 Posts: 395
    Seeing is how I'm dirt poor compaired to you people that acctualy work, just about everything I've made the last 7-8 years has gone into my type set.
    ~Richard Dorrance
  • airplanenutairplanenut Posts: 22,148 ✭✭✭✭✭


    << <i>

    << <i><< My collection divided by my income is infinity! I have no income... >>

    No, that just wouldn't exist... when your income approaches 0, collection/income=infinity >>



    Right unless you're on a projective line, then infinity is an actual point, but you lose the full group structure under multiplication. image >>

    They didn't teach me that in BC Calc, and we haven't done calc yet in multivariable image
    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • MyqqyMyqqy Posts: 9,777 ✭
    The amount one makes or spends on coins has no correlation to their devotion to the hobby ...

    I agree with this statement! image
    My style is impetuous, my defense is impregnable !
  • haletjhaletj Posts: 2,192 ✭


    << <i>They didn't teach me that in BC Calc, and we haven't done calc yet in multivariable >>



    Wait until abstract algebra or algebraic geometry in college. I'm a math PhD student at UC Berkeley. You're right though. Your statement was more correct than my first statement!
  • BearBear Posts: 18,953 ✭✭✭
    Actually my collection is 1.5 X gross Income.
    There once was a place called
    Camelotimage
  • nwcsnwcs Posts: 13,386 ✭✭✭
    Mine is worth SIGNIFICANTLY less than one year's salary for me.
    Blog and Pics
  • mgoodm3mgoodm3 Posts: 17,497 ✭✭✭
    Significantly less than one years' salary also.
    coinimaging.com/my photography articles Check out the new macro lens testing section
  • ManorcourtmanManorcourtman Posts: 8,023 ✭✭✭✭✭
    3.454% That's net vs. gross but pre-taximage

    If Kerry gets elected then my gross vs. net will be down significantly. image
  • MrEurekaMrEureka Posts: 24,252 ✭✭✭✭✭
    The amount one makes or spends on coins has no correlation to their devotion to the hobby ...

    Of course there's a correlation. It's just not all that simple. For example, if you put every dollar beyond food money into your collection, you might be obsessed by your hobby, which is almost the same as being "devoted" to it. On you other hand, you might just have no life, no imagination, and no better place to spend the money.

    Or you might spend too much on food. image

    BTW, I spend too much money on coins AND on food.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭


    BTW, I spend too much money on coins AND on food. >>






    next time I'm in NYC Andy, we'll have to go over to Old Homestead and grab a 28 oz rib eye!


    Rgrds
    Tomimage

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • dollardudedollardude Posts: 1,263
    << Of course there's a correlation. It's just not all that simple. For example, if you put every dollar beyond food money into your collection, you might be obsessed by your hobby, which is almost the same as being "devoted" to it. On you other hand, you might just have no life, no imagination, and no better place to spend the money.

    Or you might spend too much on food. image

    BTW, I spend too much money on coins AND on food. >>

    That's food for thought. image

    Me, my collection is worth far less than a year's salary. I have been quite fortunate to get a huge boost in income with my new DC area consulting job. image
    Author of MrKelso's official cheat thread words of wisdom on 5/30/04. image
    imageimage
    Check out a Vanguard Roth IRA.
  • orevilleoreville Posts: 11,953 ✭✭✭✭✭
    Eureka: In what way did the results of this poll suprise you?
    A Collectors Universe poster since 1997!
  • ERER Posts: 7,345 ✭
    My collection is worth forty dollars.
  • MrEurekaMrEureka Posts: 24,252 ✭✭✭✭✭
    Eureka: In what way did the results of this poll suprise you?

    Coins seem pretty important to this crowd. I expected more people to have larger collections.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    I did not realize my collection was supposed to be worth a multiple of my gross income. I obviously have some serious buying to do.

    My answer: Less than 50% one year's salary.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Eureka: In what way did the results of this poll suprise you?

    Coins seem pretty important to this crowd. I expected more people to have larger collections. >>

    Coins are important to me, but so is food, shelter and loading up on my 401(k) and our Roth IRAs. Those of us who have relatively modest incomes and modest net worth don't have all that much to spend on coins. I'm comfortable and admittedly way overpaid for what I do, but we're still, at best, upper middle class with the usual bills and obligations that go along with it. Plus, it's only been in the last couple of years, after fleeing the high-cost Silicon Valley area and finishing putting my wife through college, that we've had much discretionary income at all to play with.

    It also depends on your age. If you're 55, you've had a lot more time to accumulate coins than if you're 25 or 35 (obviously).

    My collection is worth about 2-3 months of my salary, but growing steadily. It will be quite a while before I have a year's salary worth of coins (though I expect to some day...maybe a decade or two from now). I just don't envision a day when my bills and living expenses are such a small fraction of my income that I can target huge percentages of it to coins.
  • kamehameha00kamehameha00 Posts: 2,077
    About 15-20%, but that isn't much compared to what some of you guys spend on your collection considering I only made about $1,000 last year.
  • coinfreak499coinfreak499 Posts: 1,720
    well I've been collecting coins for a year. So a bout a years worth of income. err.. allowance


    imageimage
  • orevilleoreville Posts: 11,953 ✭✭✭✭✭
    Eureka: Ahh, but your poll results might be surprising to you since the responses thus far are only from the Sunday Drivers! image
    A Collectors Universe poster since 1997!
  • LakesammmanLakesammman Posts: 17,380 ✭✭✭✭✭
    Since mine was recently sold, it makes for an easy answer!imageimage
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • foodudefoodude Posts: 3,568 ✭✭✭
    Russ makes nothing per year and his coins are worth about the sameimage
    Greg Allen Coins, LLC Show Schedule: https://forums.collectors.com/discussion/573044/our-show-schedule-updated-10-2-16 Authorized dealer for NGC, PCGS, CAC, and QA. Member of PNG, RTT (Founding Platinum Member), FUN, MSNS, and NCBA (formerly ICTA); Life Member of ANA and CSNS. NCBA Board member. "GA3" on CCE.
  • BarryBarry Posts: 10,100 ✭✭✭
    My early retirement comes first (currently planned for 2009).
  • dorkkarldorkkarl Posts: 12,691 ✭✭✭
    depends on what the definition of "is" is.

    K S
  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    Interesting poll, which deserves further analysis. Some possible take-home points:

    1. The majority of people who answered are truly collectors (not "investors" or "speculators").
    2. The 8 who answered "more than 10" may be students or retirees.
    3. People here have other financial obligations that preclude them from going overboard on their coins.
    4. Some are focused on the semantics (define: semantics).

    Any others?
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132

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