Is new money dumb money?

291fifth

Here is a question for dealers:

Do you find that the newly wealthy tend to spend foolishly on coins?

Does old money spend more wisely?

partagas

My thought is, when I was young I couldn't afford coins in the mid to late 80's. Low paying job just like every other kid, with no funds.

Now I have a good job and have money and can buy what I want, providing I accept the current prices.

So no it isn't dumb money, it is just discretionary income that I choose to allocate for certain items. You can call it dumb but I sure think it is fun money. Just like those who would pay $20 million to ride in the shuttle. I just choose to spend mine differently. Oh and I wish I had $20 mill cause I would have one heck of a collection.

fc

interesting how a single person with some money
can catch the eye of every dealer on the bourse.

licking their chops thinking fresh meat.