POLL: Buy a house or a 1912 MPL?

pnylvr

In our area we have had such a down market in housing that I could just about buy a house for the price of this 1912 MPL. It sold recently at a heritage auction for 25k+. NGC Pr-66. Would you buy the house or the coin?

doh

The house is the better long term investment. And it's not in an NGC holder

clarkbar04

Where can you buy houses for $25K?!?!

pnylvr

I actually have made this decision and followed thru on it.

pnylvr

If you can believe it, right here in Flroida. Please come down and boost our prices!!!

fc

i guess it depends if you already have a house or not.
i am in the process of buying a home right now and decided coins
mean a lot less to me during this time frame.

i am thinking in terms of, would i rather have this half eagle worth
750 or a new piece of furniture? easy choice really.

clarkbar04

<< <i>I actually have made this decision and followed thru on it. >>



On which?

That seems crazy cheap. I don't think I'd do well in the florida humidity but for that price how can I refuse?

pnylvr

It is amazing that I have seen houses that were forclosed on for over 150k sell for under 50k, but this is a sign of the times.

OneCent

Please describe this "house" for $25K....I think that the term house may be loosely defined in this example.

lathmach

I think the "house" may be defined as a "single wide", and comes complete with alligators in the back yard swamp, and rattlesnakes nesting under the porch.
I've been to Florida. I owned a condo at Indian Harbor Beach.

Ray

agentjim007

It's a sad day when that question is even asked.

ambro51

Wise man once say























Would you pay a penny for an elephant?

VirtualWon

I figure I can afford the coin I could afford a house too.....and you don't need all the money up front for the house.

greghansen

There are very livable single family residences selling here in the Melbourne, FL area for $40-$60K. It is quite remarkable.

lasvegasteddy

i find that amazing in that a 1912 ngc pr66 went for that much...no lie

but by all means in choice...give me the house...even if for a rental one could use that cash flow to acquire 12' matty's through the years

at $25k though that matty isn't going to allow you buying houses

i need to reconsider my 12' matty in this reguard

Walmann

If the house is not your primary residence and you need to consider the cost of renovation (if applicable), cost of maintence, insurance, closing cost(title fees abstract etc) and property taxes. Also look at the projected market conditions and what length you may have to hold. With a coin the overhead will not be so great and is portable property. With the coin determine what you may get if you are forced to sell quickly (same with the house). Calculate all these factors as above and then take your best educated guess for worse case loss and best case gain for each one.

Gemineye

<< <i>Wise man once say


Would you pay a penny for an elephant? >>



Confucius say.."tis better to have one ounce of gold than to have one pound of elephant poop...!!

pnylvr

<< <i>There are very livable single family residences selling here in the Melbourne, FL area for $40-$60K. It is quite remarkable. >>



These houses you speak of are not that bad. This is the area I was thinking of.

acsb

There are livable houses in Detroit selling for $1. Can't say I'd move there, but even for $1,000, heck, the lumber and pipes are worth more than that.

Longacre

<< <i>There are very livable single family residences selling here in the Melbourne, FL area for $40-$60K. It is quite remarkable. >>




Wow. Maybe I will buy a few dozen. That is dirt cheap.

RYK

<< <i>

<< <i>There are very livable single family residences selling here in the Melbourne, FL area for $40-$60K. It is quite remarkable. >>




Wow. Maybe I will buy a few dozen. That is dirt cheap. >>



If PCGS slabs them and the CAC stickers them, I'll buy some, too.

lkeigwin

The MPL, thank you very much. Don't want to offend. 'nuff said.
Lance.

intence

house hands down

droopyd

<< <i>There are livable houses in Detroit selling for $1. Can't say I'd move there, but even for $1,000, heck, the lumber and pipes are worth more than that. >>



Actually, those $1 houses have likely been stripped of their wiring, plumbing, moldings, windows, doors.....

TwoSides2aCoin

Considering global warming:





I'll take the coin.

WaterSport

Why not both? You can get a decent Matte for $1500, that still leaves you enough for a house. A while back Kansas was even offering houses I think for free under a HomeStead Act because they are losing so much of their population.


But hey, here are 54 Mattes for sale!


WS Registry Forum weekly MPL list

seateddime

you can't live in a coin

options26

More millionaires were made in the 20's and 30's than any other time in history. I suspect that this is the case today. You guys keep freaking out and I will keep making money. I am buying houses really cheap and making 100%+ return on renting them out. You will never find a market like today. Banks allow me 75% on my rental income so when I rent for 100% profit I actually come out ahead. I hope everyone keep up with the doom and gloom, I will be a Trump before long.

micmt

I would say its a better wiser move to buy the coin instead of a downpayment right now but if the full 25k will get you a rental house then why not....unless your sig other does not want the head ache of renters. How much work needs to be put into the house to make it livable?

DMWJR

That coin is not a 66red and may be worth about $5k.

MillerJW

Sorry but you cant have chicks over to enjoy a coin, and a house is just soo much more fun!!!

micmt

OK just buy one for a buck and spend the other $24,999 on the MPL

House for a dolla

Elcontador

The MPL is the coin market's "flavor of the month." For this reason alone, I would not buy one now, at any price. If a copper is post Classic Large Cent, I would look at any NGC coin carefully before considering buying it.

Might add, around here, for $25K, you might be able to make a downpayment of on a Goodwill box. I'd spend it upgrading / fixing up my house.

1Mike1

In these times, 25k for a copper coin is too much and 25k for a house is a bit dubious. If you are looking to invest, buy several gold coins. Save enough to take your family out for the day and give a bit of money to the church or the food bank.

micmt

I just sold my house in northen Virginia and $25k would not even come close to the drop in the bucket for a downpayment on a $405,000 home.

frnklnlvr

<< <i>I just sold my house in northen Virginia and $25k would not even come close to the drop in the bucket for a downpayment on a $405,000 home. >>



My grandmother's house in Arlington, VA cost $20k in 1945. Wonder what a '12 MPL cost then?

micmt

It would have been nice to have bought mine back then...instead I bought it in 2007 Then sold it in 07 Still if you buy good you make money

frnklnlvr

The oldest RB I have is the 7th Ed. 1954-55. Here are the prices for MPL followed by prices adjusted for inflation. What a difference!

RB price - Adj. for inflation

1909 $3.00 - $22.90
1910 $3.25 - $24.81
1911 $3.25 - $24.81
1912 $3.25 - $24.81
1913 $3.25 - $24.81
1914 $6.00 - $45.80
1915 $7.50 - $57.24
1916 $8.00 - $61.06

anablep

$25K for a home??

What fresh hellscape of a neighborhood are we talking about?

I'll pass on the house and go for the coin...

sonoranmonsoon

$25,000 house? Does it come with land?

pnylvr

<< <i>$25K for a home??

What fresh hellscape of a neighborhood are we talking about?

I'll pass on the house and go for the coin... >>



Say a quarter acre. Small homes under 1000 sq ft. 2/2

messydesk

<< <i>

<< <i>There are livable houses in Detroit selling for $1. Can't say I'd move there, but even for $1,000, heck, the lumber and pipes are worth more than that. >>



Actually, those $1 houses have likely been stripped of their wiring, plumbing, moldings, windows, doors..... >>


And probably have back property takes due exceeding $5,000. There might be that much $ in crack cocaine residue to be found inside, though.

JrGMan2004

<< <i>If you can believe it, right here in Flroida. Please come down and boost our prices!!! >>



Where in Florida are you? I've been seeing decent houses for $100k in the Sarasota area, which was impossible a few years ago, unless you were buying a room over a garage or something...

Elcontador

1Mike1 - I was ready to pay north of 20K on an old copper less than six months ago. If it becomes available, the offer still stands.

commoncents05

House.... Hands down.

-Paul

Unknown

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terribleredmonster

<< <i>Where can you buy houses for $25K?!?! >>



In lots of places now. The best places to look are all around the great lakes. My brother moved into a house last month that he bought for $15500. Before that he lived in a double wide that he bought for $4000. Housing doesn't need to be expensive if you don't need extravagant things like gourmet kitchens or functional local economies.

1Mike1

<< <i>1Mike1 - I was ready to pay north of 20K on an old copper less than six months ago. If it becomes available, the offer still stands. >>



I'm not saying the copper coins are not worth it. Just saying the economic environment is sketchy for a lot of us and it will pay (at least in the short term) to be shrewd with your spending money. Prices are coming down on most coins. Maybe next time you see that old copper it will be more affordable.

micmt

Another thought is that a coin you can relocate with easy A house well you would just have to sell it again and pay realtor fees and closing costs.

Boom

Reality is hitting many people REAL HARD!

They're losing EVERYTHING! This is beyond bad.

You can have a huge pile of PM and it's worthless unless people can BUY!

If they're losing Homes, 401K etc - they sure don't care about coins.

You can't eat a coin (well, I suppose you COULD, technically) but it won't sustain you.

You can't sleep on a coin. Real Estate is and has always been "Da Nuts"!

LandOWNER = Power = Wealth. Everybody NEEDS somewhere to live.

Real Estate/ any rentable home = recurring INCOME.

I trust you get the point. Homes/ Real Estate - NOT the coin.

GrumpyEd

I love MPLs but I'm in the buy the house crowd.