how many of you are like me?

arlea1957

Ok I am not a rich guy but I work 60+ hours a week (renovations) and do ok. I am self employed and don't know alot about investments (I know I should). I collect coins and have my favorites like my type set and a couple of other sets ie frankies and morgans. I sorta use the coin thing to hide/save funds from my wife as she would spend if I did not buy coins (if cash was available). In the past year I have accumulated somewhere in the 10k range of raw and some slabbed... am I alone?

millennium

I'm pleading the 5th...........

Barndog

You're not alone, but I'm not with you on this one.

lasvegasteddy

hey arlea,
i'm probably not richer then you and find my coins inadvertently are my savings account too (more what i leave my kids upon my passing)at about a 10k a year too.i cringe over a $200. tag on a coin as close to oughtta budget for me and haven't seen fit to paying slab fees getting in the way of new raws i can buy.i although like peace dollars-walking halves and standing liberty quarters myself.after some 44 years of age knowing in 1970 helping my grams put her indian pennies in books out of her original bank rolls i got hooked.my original collection went with birth of my boy some 15 years ago and only recently after divorcing am reliving my childhood and fell back into this passion of a hobby at a beginners level of mistake making and having fun doing this too....same like you?...we're all a little of this and that with those who spend 6 figuires on single coins laffing at us....

nwcs

<< <i>You're not alone, but I'm not with you on this one. >>

MAD4MORGANS

I feel I'm a LOT like you.

Petarded

I was....alas, no longer...TILL I START AGAIN!!

ttxp

<< <i>I sorta use the coin thing to hide/save funds from my wife as she would spend if I did not buy coins >>



Darling husband and I have an understanding, if we hit dire financial need, his collection goes first. What's his is mine, what's mine is mine, simple.

AlixTCat

You're not alone. I suppose I have about 5K "invested" in my coins. Probably would bring that much if I died and my wife put them up on eBay. However, she would probably just give them away as she knows not of the ways of the Bay. I spend about $100 a month on coins. I am disabled, so I can't work 60 hours a week. I make a meager salary and that is all I can afford to spend on coins. People who make more than me bug me, but I'll get over it.

Jonathan

Gemineye

Honest Hon ....!!!!!! They were havin' a sale on these beeuutiful $1 Dollar coins for just $100 Bucks a piece.....I couldn't resist.......!!!!!!

ldhair

I can't say. The wife reads over my shoulder at times.

Myqqy

What's his is mine, what's mine is mine, simple.

rec78

Sort of. I only work 40-45 hours per week now-used to do up to 56 hours or more per week depending if my employer offered it. I think that i have only spent about 1/2 that amount in the past year. My wife knows nothing or cares nothing about my coins.

coinbuf

A bit alike, I'm selfemployed also but my wife and I are a couple. I do not consult every purchase with her but she knows how much the collection is worth and the best way to liquidate if any thing were to happen. I'd advise against parking your entire savings in coins as its not a very safe investment at times.

Chris

Conder101

<< <i>Darling husband and I have an understanding, if we hit dire financial need, his collection goes first. What's his is mine, what's mine is mine, simple. >>


Sounds like a typical marriage.

curly

Not at all alike. First off.....I do not and never will invest in coins. Since I am in my retirement, Mrs. curly lets me buy whatever I want, when I want, if I can afford it. She never says a thing about the cost. Lord, I love that woman.

Longacre

I would suggest, especially since you are self employed, that you speak to a good CPA or tax lawyer and make sure that your retirement funds are in place and you are taking advantage of all of the tax benefits available to self employed people. Then after that is taken care of, you should set aside a particular amount for "coin funds" and you won't need to worry about your hobby being a form of "investment". And, of course, you should always fully disclose your coin purchases to the Mrs.