So you are saying the average coin collector( please define) doen't care if his collection goes up or down in value
Of course they care, but it is well back on the list of priorities. Enjoying the hobby is #1. A person would love it if their every day car went up in value too, but they don't expect it, and that is well down on their list of expectations and priorities when choosing a car. Styling, comfort, dependability, safety, operating costs, may all be ahead of price appreciation when choosing a car. I'm sure there are a few people that look at that as the number one factor, but it is a relatively small percentage of folks, when talking about choosing a car for every day use.
Same deal with coins, resale is a factor as is price appreciation/depreciation, but it is well down the list for most people. There was a recent poll about what factor is most important when choosing a coin, a few people did vote for price, but a good percentage of those were dealers primarily interested in immediate resale. If a person did another poll and added a voting option for future price appreciation, I think it would score similarly low when choosing a coin to purchase.
The original post has nothing to do with investment. Any rational person would rather buy 125 of the same item for $80 each, than spend $10,000 on one of the identical item. Or buy one of the item for $80 and spend the rest on other stuff.
I'll say it again about timing the markets. The average person will buy near the top and sell near the bottom when they attempt to do so. Why? By definition, tops are formed when there are a lot of buyers and few sellers, and bottoms happen when there are a lot of sellers and few buyers. That is how markets work--economics 101. An average person is much better off steadily buying nice coins for decent prices and ignoring the fluctuations.
Well...the few coins I'll have to be ponying up that kind of $$ for usually hold their value. And even if I end up spending too much for a '56 Flyer or a '93 Chain Cent ...well...just having the thrill of holding that bit of history is worth the price of admission. Leo
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
I paid like 6k for this Benson coin one time then I read that he only paid Max Mehl $9 (nine dollars) for it and I sit there and scratched my head for a little while then said hmmmmm.....oh well.
Change that we can believe in is that change which is 90% silver.
I always figure that if I really like a coin enough to purchase it, then chances are that someone else will be interested in purchasing it from me someday- I don't worry about what that person will want to spend, it'll get figured out later........
My style is impetuous, my defense is impregnable !
Comments
Of course they care, but it is well back on the list of priorities. Enjoying the hobby is #1. A person would love it if their every day car went up in value too, but they don't expect it, and that is well down on their list of expectations and priorities when choosing a car. Styling, comfort, dependability, safety, operating costs, may all be ahead of price appreciation when choosing a car. I'm sure there are a few people that look at that as the number one factor, but it is a relatively small percentage of folks, when talking about choosing a car for every day use.
Same deal with coins, resale is a factor as is price appreciation/depreciation, but it is well down the list for most people. There was a recent poll about what factor is most important when choosing a coin, a few people did vote for price, but a good percentage of those were dealers primarily interested in immediate resale. If a person did another poll and added a voting option for future price appreciation, I think it would score similarly low when choosing a coin to purchase.
The original post has nothing to do with investment. Any rational person would rather buy 125 of the same item for $80 each, than spend $10,000 on one of the identical item. Or buy one of the item for $80 and spend the rest on other stuff.
I'll say it again about timing the markets. The average person will buy near the top and sell near the bottom when they attempt to do so. Why? By definition, tops are formed when there are a lot of buyers and few sellers, and bottoms happen when there are a lot of sellers and few buyers. That is how markets work--economics 101. An average person is much better off steadily buying nice coins for decent prices and ignoring the fluctuations.
<< <i>If you buy an $80 coin for $10K you probably ought to find another hobby. >>
LOL.......nail meet hammer...
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