Advantages of being a Life Member of the ANA
TwoSides2aCoin
Posts: 44,463 ✭✭✭✭✭
I renew every year for the past few years and started wondering about cost savings. My membership is currently expired (since June). For the cost of being a Life Member, is there a cut-off age where it would be smarter to just do the renewal on a 5 yr. basis, and are there "perks" for being a life member ?
I am uncertain of the cost for Life Membership but would like to take advantage of savings where I can.
So help me with the math : I am 53.
Renew for 5 years ? Do the life membership ? One year at a time ? Let it lapse and forget it ?
I'm open to suggestions and wonder about other's personal experiences.
Renewal fee structure:
1 year is $36.
2 years is $70
3 years is $102
5 years is $165
I am uncertain of the cost for Life Membership but would like to take advantage of savings where I can.
So help me with the math : I am 53.
Renew for 5 years ? Do the life membership ? One year at a time ? Let it lapse and forget it ?
I'm open to suggestions and wonder about other's personal experiences.
Renewal fee structure:
1 year is $36.
2 years is $70
3 years is $102
5 years is $165
0
Comments
Last I saw they were at that %.
What is that worth to you?
What do you actually use/get out of your membership?
<< <i>I renew every year for the past few years and started wondering about cost savings. My membership is currently expired (since June). For the cost of being a Life Member, is there a cut-off age where it would be smarter to just do the renewal on a 5 yr. basis, and are there "perks" for being a life member ?
I am uncertain of the cost for Life Membership but would like to take advantage of savings where I can.
So help me with the math : I am 53.
Renew for 5 years ? Do the life membership ? One year at a time ? Let it lapse and forget it ?
I'm open to suggestions and wonder about other's personal experiences.
Renewal fee structure:
1 year is $36.
2 years is $70
3 years is $102
5 years is $165 >>
Some advantages to a life membership - not being bothered with renewal notices, free shipping on stuff in their MoneyMarket store, keep receiving The Numismatist until you're gone. For $1,000 you can't go wrong (though when I became one, it was $750 and I paid less than that due to my years in the ANA.)
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>It wouldn't make sense for a senior citizen to pay the same $1000 dues as someone in their 20's. Do they have a slidding scale based on age? >>
According to their website, senior members living in the US (65 & older) pay $750 for a Life Membership.
To help answer the OP's question...at $165 for each five-year renewal, it would take 6 five-year renewal periods to equal $990. So it would take over 30 years to equal the $1K life membership dues for someone under age 65.
However, as dorancoins indicated, the ANA may be willing to reduce your cost for a life membership based on how many years you've already been a member.
I became a life member a few years ago at age 38. And, despite all the controversy surrounding the ANA over the last few years, I have not regretted that decision.
* ANA dues have been increasing and are likely to continue to increase
* That $1000 earns interest
If it were set in stone that $36 would be annual fee, it would no sense to get the life membership to save on costs. The $1000 would earn $30 in interest every year at 3% and it would be a LONG time for the draw down at $6 a year (166 years). At 4%, it costs money to have the life membership. Also consider the small risk that the ANA goes under and ceases to provide any tangible benefits or host shows.
If the dues are set to increase at a steady clip, the math becomes more difficult and a spreadsheet might be in order. For most the life membership isn't a financial decision, it is an emotional or political decision, or perhaps a business decision for those that can write the dues off.
10% off of ANA books (maybe everything there?)
Free ANA shipping
Occasionally, they'll give you a free book with a purchase. I happened to buy the free book that went to somebody that attended the ANA Summer Seminar ("Classical Deception").
Extra $100 off of Summer Seminar
Lifetime Numismatist subscription
to join their collectors club?
Brian
<< <i>It wouldn't make sense for a senior citizen to pay the same $1000 dues as someone in their 20's. Do they have a slidding scale based on age? >>
Perry called you old....
I guess if the Rapture comes soon it would not have been money well spent... If were stuck here for
a while I guess it would be money well spent....
<< <i>I believe it may also allow you to submit coins to NGC without having to pay $100 a year
to join their collectors club?
Brian >>
yep. This is true, I blieve.
<< <i>
<< <i>I believe it may also allow you to submit coins to NGC without having to pay $100 a year
to join their collectors club?
Brian >>
yep. This is true, I blieve. >>
Any ANA member can do that, regardless of membership type.
To support LordM's European Trip, click here!
<< <i>
<< <i>It wouldn't make sense for a senior citizen to pay the same $1000 dues as someone in their 20's. Do they have a slidding scale based on age? >>
According to their website, senior members living in the US (65 & older) pay $750 for a Life Membership.
To help answer the OP's question...at $165 for each five-year renewal, it would take 6 five-year renewal periods to equal $990. So it would take over 30 years to equal the $1K life membership dues for someone under age 65.
However, as dorancoins indicated, the ANA may be willing to reduce your cost for a life membership based on how many years you've already been a member.
I became a life member a few years ago at age 38. And, despite all the controversy surrounding the ANA over the last few years, I have not regretted that decision. >>
I became a life member in 2000 (age 27.5) and have no regrets about it. Now, for the reduced rated based on years as a member. My cost was $660 (since I joined in 1991). Whether the ANA still does the reductions, I honestly don't know, but it may have been done away with when the regime under Bill Horton (2005-2007) did some very unpopular stuff at ANA.
<< <i>
<< <i>It wouldn't make sense for a senior citizen to pay the same $1000 dues as someone in their 20's. Do they have a slidding scale based on age? >>
Perry called you old....
I guess if the Rapture comes soon it would not have been money well spent... If were stuck here for
a while I guess it would be money well spent....
Hey!!! I was talking about myself as a senior citizen. I've been a member since 1980 and it wouldn't make sense now for me to pay for a life membership since my life is mostly already over.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>
<< <i>I believe it may also allow you to submit coins to NGC without having to pay $100 a year
to join their collectors club?
Brian >>
yep. This is true, I blieve. >>
Any ANA member can do that, regardless of membership type. >>
That's pretty cool!
Ray
<< <i>Membership fees could be used instead to buy coins.
.................
<< <i>Um, if I remember right, life members get an obituary note when they croak.
Ray >>
Thank you... I love the freebies
<< <i>
<< <i>I believe it may also allow you to submit coins to NGC without having to pay $100 a year
to join their collectors club?
Brian >>
yep. This is true, I blieve. >>
As an ANA member you get to submit to NGC w/o the membership fees. Life member or not.
Due to the fact the Large Haydron Collider (LHC) will be activated this Wednesday creating the proverbial "Big Bang" in approx 4 years...
Everybody put on your Tin Foil hats...
It's going to be a Wild Ride !!!!