For buying an expensive coin from Heritage, is there a better option than their take six months to p

LincolnsRule

It charges 12% APR interest. That's not that great. Is there a way to get a better low interest loan? I am a student so don't have a large income, but I have plenty of coins to sell to pay for my winnings, just don't want to sell them until I'm sure I have won.

Edit for spelling.

Trinketts

Goto your local credit union or bank and get a signature loan... They range from 6.95-8.95 APR...

21Walker

Cash......Rick

JSsson

You can always try to borrow money from friends or from your bank. The chances are they may charge less interest and other fees than Heritage would for the same kind of six month loan.

relayer

Rule #1 - Don't borrow money to buy coins. It's not something to go into debt for.

LincolnsRule

I wouldn't really be going into debt, just the more time I have to sell some other coins the better.

rec78

If you are going to sell coins to pay off your win after you win, you could take the 6 months to pay option, sell your coins, and pay off early. It is not mandatory that you must use the full 6 months to pay -you can pay them off anytime you get the money earlier if you want.

oreville

I like using my credit cards where I can get airline miles plus their special offer of 0% interest for 5 months. Those work really well.

morgannut2

If it's just a month or so can you use a credit card and pay in within a month? Also I presume you have checked with a dealer-wholesaler as to the liquidity value of the type of coins you're selling. For example, most MS Morgans are very liquid at near bid price. But if have a some nice rare Colonial Copper issues for sale, or moderns in low populations, it could take quite a while liquidity wise. Don't get in a bind over a coin purchase--and lastly maybe ask Heritage about a buy-back/trade/consign at no fee, on your material instead of selling yourself.

RYK

Rule #1 - Don't borrow money to buy coins. It's not something to go into debt for.

Rule #2 -Don't ever violate Rule #1.

LincolnsRule

An introductory no interest credit card would be great, but being a student I won't get a useful credit limit.

I know what I'm doing as regards to selling, and could sell a few coins to pay for it immediately, but I just would like to have more time to try to sell off more common stuff, submit some raw coins, try a few for upgrade before letting them go etc.

Coin Finder

This is all so strange. We and when I say "we" I mean the American People, borrow money for everything. We borrow money when we swipe our credit card and McDonalds.

Going into debt to buy coins is all a matter of opportunity. Some coins do not come out from under the rock very often and when they do you need to strike. We buy cars, houses, clothes, etc etc etc on credit. There is cheap money out there so go get it. Chances are your mailbox is full of offers. Should the collapse of western civilization happen and we all lose it all, at least you will have some nice coins to look at.

Your greatest asset is not your home...that is your greatest liability! When the value of your home goes up that money (Equity) is making Zero interest. That money is also making Zero interest when the value of your home goes down. Just a thought.