Does anyone here have a specific numismatic budget for 2008?

Longacre

Unfortunately, Longacre does not have unlimited means, so I have a limit to how much I can spend on numismatic purchases. In order to fund my numismatic acquisitions, I have money transferred automatically from my pay to a super secret, "off-balance sheet" account. Because it is a regular transfer, I know how much my numismatic budget is for the year. I also tend to stick to that budget, and only if there is a really, really excessively rare coin that I just have to have, do I dip into the larger pool of general funds which are on-balance sheet.

Is anyone here as disciplined as I am? Or am I short changing myself by sticking to a budget and therefore am possibly missing opportunities when several really expensive coins come on the market at one time?

UtahCoin

Not really. Could be zero (but I doubt it), or well into 5 figures if the right deal comes along. All depends on the coin(s).

slipgate

Budget? $0.00! What I will spend? Who knows?

MacCrimmon

When I was young, I fell in love
I asked my coin dealer what lies ahead
Will we have rainbow toners, day after day
Here's what my dealer said.

Que Sera, Sera,
Whatever will be, will be
The future's not ours, to see
Que Sera, Sera
What will be, will be.

Newcomp103

I have not had one before....but in 2008 I will....probably will set a "do not exceed" amount for the entire year...then spread it out as I go...which means if I decide to buy that "non-widget" super high dollar coin in January...the rest of the year will be slim pickings!

blu62vette

I dont keep any budget for coins but it really gets started with my tax refund. I use the tax refund for some large bills in March and then coins after that. This year I need to do a better job spreading out my funds over the year.

MORGANHUNTER2

1,000,000,000.00
give or take

291fifth

All I know is that is going to be very, very low.

savoyspecial

i dont know if this directly answers your question or not but i have decided for 2008 to embrace the widget-ness of my collection.....no single item expensive pieces for me......i'm getting back to numismatic basics with penny boards, roll searching and the like......instrumental in this decision is the fact that my twins are now 5 and are getting into coins themselves and love looking through rolls that daddy brings from the bank....this gives me more enjoyment than dropping big $ for one item.....i'm still picking up Carson City issues for my collection but even in that pursuit i'm learning to appreciate raw coins more and be more hands on with my collection.....trying to simpify.......widgets can be fun.....investment is the farthest thing from my mind right now

greg

TennesseeDave

I try to refrain from buying coins above the $400-500 range,unless it's a really great deal(ex. $1000+ value)I usually alot about $200-300 per month and sometimes go 2 or 3 months between purchases.My pockets aint real deep.

fc

i have become jaded when it comes to money and gold coins.
i used to think 250 was expensive. then i thought 500 was expensive.
now i think nothing of dropping 500-750 for the right coin.

my budget is basically tied to how many good looking coins come up
for sale during the year and if i can afford them. i have no problem
spending like wildfire if the right coins appear. i also have no problem
not buying a thing for months on end.

RWB

After figuring college tuition for 2, bills, taxes, divorce lawyer, donations, numismatic research, necessities – my coin buying budget is $7.61 – for 2008. That’s a 21% increase over 2007 so I’m making progress toward buying that EF Morgan dollar.

fc

my coin buying budget is $7.61 – for 2008.

i am sure many members here will all pitch in so you can afford that EF morgan.
who will send rwb 50 cents each? I am good for two bits. ;0)

DoubleEagle59

i am sure many members here will all pitch in so you can afford that EF morgan.

EF Morgan.....now that's funny

Newcomp103

<< <i>After figuring college tuition for 2, bills, taxes, divorce lawyer, donations, numismatic research, necessities – my coin buying budget is $7.61 – for 2008. That’s a 21% increase over 2007 so I’m making progress toward buying that EF Morgan dollar. >>




$7.61 face value sometimes equals HUGE money numismatically!

Michigan

I'm probably going to be shut out of all buying for the next several months as I checked my mutual fund online for the expected payout per share I'm going to have to deal with for capital gains this year.

Lakesammman

Depends on what becomes available.

FullStrike

For real coins = $00.00

For Platinum Eagles = whatever I can come up with

Mowgli

I have a want list for several sets that I am currently doing. I'll spend based on what I find; although the escalating cost of Barber halves might force me to dip into other funds if the coins become available faster than my monthly income.

fcloud

I already blew it on the mint's Platinum Set.

IwantNonCCs

Twelve Eagles.

(As in the original denomination, eagle)
(Coinage act of 17??)

DennisH

Once again, mine is a general one: "Try to show a little more self-control this year."

It hasn't worked yet, though.

Lakesammman

Wait a minute. FUN is in 2008.

I have a 6 figure budget but no $$.

ubercollector

I have a rough budget of about $1000 to drop for my various collections. I noticed that seem to spend a consistent $300-$400 a month on coins. Some I buy with the intent to sell later and other coins are for my own collection.

doh

I'm just waiting for my tax refund, that funds a coin every year. Other than that I have 2-3 coins in my collection that I would sell in order to fund something I like more. And I'm always looking to upgrade....so I guess the short answer is: no, I don't really have a specific budget.

mozin

I try to buy only what I like when it is at a fair price. Using this rule, I do not need a budget.

Bear

Yes I do. Everything I can

beg, borrow or steal.