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WOW...I was told I should find a new hobby.
Billet7
Posts: 4,923 ✭✭✭
I was recently told that I should find a new hobby...that I am not wealthy enough to be a coin collector. Talk about making someone feel small...not only am I apparently poor...but what I do as a hobby is also apparently nothing more than a pipe dream. That cuts deep. Accordingly, I am wasting what little extra money I have on things I can't afford. I was told this by a fellow COLLECTOR of all people.
Is coin collecting truly for the rich?
Is coin collecting truly for the rich?
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<< <i>sounds like you were talking to a condescending jerk......i dont have much discretionary income but i'm building what i think is an interesting collection......ignore the idiot who said this >>
My sentiments exactly. The person who said this should find new friends, more like it.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
However, you do need to find a balance between coins you can afford and coins that you like....learn to like the ones you can afford. I think most of us go through this to some extent because most of us are not fabulously wealthy.
consulted with my wife of over 40 years, on the purchase of all my coins prior to making the buy. That way
I don't spend needed $$ for feeding the family, etc.
So, to answer your question, NO. That "collector" was just being selfish and wants it all for himself.
Keep the eye open for those little gems!
Bob
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
If you buy a coin for $1 that can provide some enjoyment and that you can sell for $2 when you are done then how is that not good? But it does take experience to be able to buy a coin for $1 and sell it for $2.
So regardless of how much less money you have than this other twit, you will have something he will never have -- enough.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
No, there are pleny of coin collecting options for you.
Apparently, in this forum, there are those with deeeeeep pockets, and they're not shy about showing off their treasures.
But, the sad fact is, desirable coins in desirable states of preservation usually do require significant funds. Having a limited budget can be very frustrating, as it is for me.
For example, I would like a nice sharp AU + 27-S Standing Liberty Quarter, but the price forces me into the XF grade range. In my case, it's all about compromising my collecting goals.
But, in reality, we all have to compromise at some point, so look for coins that satisfy you within your budget. Just make sure that YOU are happy with your decision.
collecting pla$tic is indeed only for the rich
K S
–John Adams, 1826
Now that TPG's have matured it really doesn't take much skill or knowledge to own expensive coins and they don't make a person any more special in this hobby.
Unless someone has NO disposable income whatsoever ... and I realize some people have it that hard ... there is something for everyone in this great hobby.
In fact, even if you couldn't afford to purchase a coin, you could still learn a lot about it just by reading and researching on the internet or through the library system.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>I was recently told that I should find a new hobby...that I am not wealthy enough to be a coin collector. Talk about making someone feel small...not only am I apparently poor...but what I do as a hobby is also apparently nothing more than a pipe dream. That cuts deep. Accordingly, I am wasting what little extra money I have on things I can't afford. I was told this by a fellow COLLECTOR of all people.
Is coin collecting truly for the rich? >>
Yes. And it's also for a kid who wants to fill the holes in a United States map with state quarters. Very people can afford to collect at the top level, because there are so many six and seven figure coins. Everybody can afford to collect coins in some fashion. The trick is to be able to enjoy the hobby within ones financial limitations.
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
On a budget of $50 per month, I was able to put together a set I call my "Circ Merc" set. I managed to trade/purchase all but the two errors. Keep in mind, though the good people of this hobby (And these boards) I was able to get a GREAT deal on the key of this set. Someday I plan on finding the error coins to complete this set but the staisfaction of $50 dollars per month investment intot he hobby has paid off greatly.
This hobby is for anyone, heck even children can get bank rolls from the bank and search for and complete a set of current coinage. As a matter of fact, I know many of us seasoned collectors doing just that to pass time or search for silver.
Without talking bad about someone I don't know, I suggest you re-evaluate your friendship with said person.
Just my two pfenning,
Ray
A true coin collector can have fun a build a great collection on any budget.
Listen, ALL of us have to find the collecting niche that fits our personality, patience and budget. Some of the wealthiest collectors on this board still have budgets and limits.
Coin collecting is for enjoyment. As long as you have some discretionary income and some patience, you can collect anything you want.
J
siliconvalleycoins.com
with circulated widget coins...
where you have to keep stretching and stretching for coins, that in
the end, you will not be happy with.
it just depends on how well he knows you. with subpar coins that
you will not end up being happy with.. you will end up selling them
for a loss and creating a vicious cycle.
i know i would not be happy pulling coins out of circ for the next
5 years. there is only so many 1950s ugly wheat pennies i can tolerate
seeing.
I realize my bugdet for collecting lib half eagles was tiny compared to
what it takes to go for the series without even trying for the major
keys.
I like rare items (coins) and on my budget it does not make sense
to collect them.
In the end, if you like coins, just participate in the hobby through others. Enjoy their major scores and the pictures they post. Read
the forums and coin articles. There is no need to purchase a coin at
all. So getting out of the hobby completely could be interpreted as
just stop buying coins and enjoy other aspects of it.
"We are what we pretend to be, so we must be careful about what we pretend to be."
-- Kurt Vonnegut
<< <i>Not much of a friend. People like him are what ruin this hobby. >>
it just depends. we do not know the whole story. maybe this friend
knows more then we do.
Heck, yesterday, I finalized a sale of ONE coin for $575,000 and today, I am looking over inexpensive circulated bullion mercury dimes I bought at 90 cents each from a friend and seeing if I can upgrade the coins within my 2 circulated sets I started when I was 7 years old.
So far I was able to upgrade one of my 1930 mercury dimes! I am happy!
This is a hobby in which the rich, middle class, poor can meet and still be equals. This hobby is a great hobby in which you can even collect what people no longer care to pick up from the ground!
By the way, I do not consider myself rich.
<< <i>I was recently told that I should find a new hobby...that I am not wealthy enough to be a coin collector. Talk about making someone feel small...not only am I apparently poor...but what I do as a hobby is also apparently nothing more than a pipe dream. That cuts deep. Accordingly, I am wasting what little extra money I have on things I can't afford. I was told this by a fellow COLLECTOR of all people.
Is coin collecting truly for the rich? >>
Buy what you can afford, like what you buy. Some of my favorite coins have been circulation finds or a key coin that is damaged in a way that knocks the price down and yet is not distracting and keeps the coin interesting to me.
Also, bear in mind that there are plenty of wealthy folks who throw money at coins and yet are entirely unknowledgable about what they are doing, other than buying shiny disks ... are these people real collectors?
Make coin collecting what you want it to be ...
Whatever you are, be a good one. ---- Abraham Lincoln
Self Indulgence | Holey Coins | Flickr Photostream
collecting and investing are different. one can be one or the other and of course both.
some enjoy the VG common coins of decades past, just for the whimsy of the possible unknowable travels that coin has been, that type of collecting does not cost a lot of money and can have life-long gratification and satisfaction. many have put together type sets or series for not as much as you would think.
<< <i>I'm poorguy and I deal in coins.
.............
Experience the World through Numismatics...it's more than you can imagine.
Define 'Rich'.
I'm not nearly as 'rich' in terms of money as others here.
I'm 'richer', in terms as money, than others here (I'm pretty sure of that).
BUT I have a wife who allows me to collect coins, and kids that are 'low maintenance', so I have $$ for coins.
Collecting coins is just like just about anything else in life, it's as expensive as you want to make it.
Would you buy a Ferrari if you have a Yugo budget?
Ok, maybe that's an extreme example, but you get the idea.
Collect what you want, the 'fellow' collector sounds more like a dealer who doesn't want you business.
I'm sure others do, no matter small your budget.
Thank you for sharing that pissy experience. Chin up, move on.
My Odds&Ends eBay Stuff to fuel my coin habit (No Coins)
the sarcastic comment was meant to encourage you to wait, save your $, and find something
that, five years from now, you will look at and still be happy with. Really, would you have
been happy owning either one of those coins? Especially if you are a collector of limited means,
you should not waste your hard earned money on something just to fill a hole, or just to say
you have one, because a few years from now you will find youself trying to sell it so that you
can upgrade. You will take a loss on that coin, and the new coin will end up costing you more.
Save your money and buy something that will make you happy for the rest of your
collecting career, and don't take everything everyone says so seriously. Especially me.
Even if poor and on a limited budget knowledge is more important in this hobby then having deep pockets.
As any smoe can write a big check... I prefer to write the little ones!
Really....I am probably the most, ahh, fiscally challenged, if you will, member on here, I have not purchased a coin since September, but I love this hobby...and whatever I can get I treasure, and love looking at it. I've spent maybe $200 total on the hobby but I am having tons of fun.
I can't imagine spending several thousand dollars on a coin-any coin, and I have diffaculty believing that I will even ever spend $100 on a coin. But it doesn't stop me from enjoying the hobby!!
<< <i>I guess you took that the wrong way, but given a choice between 2 slugs fka half cents,
the sarcastic comment was meant to encourage you to wait, save your $, and find something
that, five years from now, you will look at and still be happy with. Really, would you have
been happy owning either one of those coins? Especially if you are a collector of limited means,
you should not waste your hard earned money on something just to fill a hole, or just to say
you have one, because a few years from now you will find youself trying to sell it so that you
can upgrade. You will take a loss on that coin, and the new coin will end up costing you more.
Save your money and buy something that will make you happy for the rest of your
collecting career, and don't take everything everyone says so seriously. Especially me.
And why shouldn't he be happy with either of those half cents he showed if that is what he wants? They are examples of coins which actually served a purpose and contain the entire history of this country. Personally, I would rather either of them--EVEN WITH THE SCALING AND WARTS--then your entire registry collection of Franklins which did absolutely nothing their entire lives other than sit around in mint sets and collect dust--and unlike many I actually LIKE Franklins.
Are those half cents simply filling a hole? I don't know, but neither do you. If he is, then your advise to save his money and later buy the one he actually wants makes financial sense. But, all too often the advice is lost in the message.
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
Collect what you enjoy and enjoy what you collect. It's not about the cost.
Regardless if it is worth $10 or $10,000,000
(but it is still nice looking at others also)
Over time it is like fine wine, it keeps getting better.
<< <i>I was recently told that I should find a new hobby...that I am not wealthy enough to be a coin collector. Talk about making someone feel small...not only am I apparently poor...but what I do as a hobby is also apparently nothing more than a pipe dream. That cuts deep. Accordingly, I am wasting what little extra money I have on things I can't afford. I was told this by a fellow COLLECTOR of all people.
Is coin collecting truly for the rich? >>
The bigger issue is asking for advice here, getting it, and then having your feelings hurt.
Until I read the message to which you refer, I though to myself "what a jerk, that a friend would say that to you".
However:
#1 - It wasn't a friend - it was a board members' post...
And, #2 - read in context, it was neither mean nor inappropriate.
So, if you want to buy a coin, just do it. If you want to ask advice here, suck it up if you don't like the answer.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1