Home› U.S. Coin Forum

Do you have an ARM?

coynclectercoynclecter Posts: 2,111
in U.S. Coin Forum
How many coin dealers or collectors have bought coins using a credit line or a refinance on an ARM?? What will you do when the rate goes up 2-3 points and your coins are going down or staying the same.

Will you sell to pay on your credit line?? Or will you ride it out for the next 5-7 year cycle?

Comments

  • LongacreLongacre Posts: 16,717 ✭✭✭
    I'm sorry; I cannot answer your question, but I laughed when I saw your title (even though I knew what you meant).
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • mgoodm3mgoodm3 Posts: 17,497 ✭✭✭
    No. Cash only.
    coinimaging.com/my photography articles Check out the new macro lens testing section
  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    No ARM here.

    Coins should be purchased with disposable cash, IMO.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • K6AZK6AZ Posts: 9,295 ✭
    Buying coins on credit is a dangerous proposition. I put all my purchases on credit cards for protection, but pay in full when the statement arrives.
  • WaterSportWaterSport Posts: 6,884 ✭✭✭✭✭
    No, But I have seen people pay an arm and a leg to buy some coins. image
    Proud recipient of the coveted PCGS Forum "You Suck" Award Thursday July 19, 2007 11:33 PM and December 30th, 2011 at 8:50 PM.
  • fishcookerfishcooker Posts: 3,446 ✭✭

    He11 no! Get ARM when rates are HIGH, not low like today!
  • ShamikaShamika Posts: 18,785 ✭✭✭✭
    If I don't have the cash, I don't buy the coin. I'll get myself in big trouble otherwise.

    Buyer and seller of vintage coin boards!
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Buying coins on credit is a dangerous proposition. I put all my purchases on credit cards for protection, but pay in full when the statement arrives. >>

    image

    Plus, the airline miles and/or cash rebates are nice, too.
  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    Buying coins on credit is a dangerous proposition.

    image

    Buying coins is dangerous enough with cash!
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • K6AZK6AZ Posts: 9,295 ✭
    That's why I put all my coin purchases on my AMEX Blue Cash card, at the end of the year you can really rack up some rebates.
  • nwcsnwcs Posts: 13,386 ✭✭✭
    ARMs limitation talks here...
    Blog and Pics
  • LakesammmanLakesammman Posts: 17,438 ✭✭✭✭✭
    Am I the only one?? Figured it was a cheap way to finance coins (equity LOC) in a hot market (1996-2004). Have since sold 80% of my coins, paid it off and put money in the bank. Worked good for me since several of the coins appreciated significantly but can't say it would for you here on out.
    "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, Cardinal.
  • meos1meos1 Posts: 1,135 ✭
    Thats the increadibly NUTS way to get buried. Maybe some people get a return on thier investment. But I am sure they are few and far between.

    Dan
    I am just throwing cheese to the rats chewing on the chains of my sanity!

    First Place Winner of the 2005 Rampage design contest!
  • flaminioflaminio Posts: 5,664 ✭✭✭


    << <i>He11 no! Get ARM when rates are HIGH, not low like today! >>

    I would agree with this. IMHO, the whole point of an ARM is to get into a loan at a cheaper rate than the prevailing high fixed term rates, with the intention of refinancing into a fixed rate when the rates drop. If the rates are already low, as they are today, it's better just to just get the fixed rate up front and be done with it.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Format
SpoilerCodeQuote
Heading 2Heading 1
Emoji
:):D:(;):/:o:s:p:'(:|B):#:*<3o:)>:)
Url
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
Home • U.S. Coin ForumComment As ...