I rarely sell anything, so I can live in blissful ignorance whether I might lose money.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
i was fortunate to begin collecting coins in an up market and was allowed to sell almost every coin for the same as i bought it or for a profit. Even my mistakes made a few bucks.
i have been collecting different things over the years and I detest buying a collectible and losing money on it. part of the fun of a collectible hobby to me is buying smart.
there are very few cases where i like something so much i am willing to instantly take a loss to aquire it. that does not make much sense to me and will patiently wait to buy it from a person taking that loss instead of me.
I really enjoy collecting. I've only been at it for 2yrs., but I have learned sooo much. Reading, studying, and admiring. I might as well say I LOVE collecting, and if I win or lose, it really doesn't matter, because I know in the end I have really enjoyed playing the game.
Absolutely yes. I chalk any loss to the hobby. The history and details that I learn, the people I meet and talk to far out weigh any losses I may or may not have incurred.
Doing photography I make up for any losses by getting to glimpse some real solid PQ stuff I might not ever get to see up close. This far out weighs any loss that I may or may not have incurred.
While I have lost money occasionally on individual coins here and there, for the most part I am wayyyyy ahead. In fact, I think I could count on one hand the losers.
If I go out to play golf, I don't expect to make a profit. If I go out to a movie, I don't expect to make a profit. For some reason people expect coin collectors to make money.
A dealer...sure, but not a true collector. If I make a few dollars, great. If I lose a few dollars, that's fine too.
~
"America suffers today from too much pluribus and not enough unum.".....Arthur Schlesinger Jr.
It would be an unusual person that just plows money into collecting something w/o thinking of the financial consequences...... I collect alot of stuff and the $$ risk before pulling the trigger is always foremost in my mind, whether it's stoneware, lamps, furniture, cigar store indians, curreny or coins.
Making money, or at least breaking even, allows me to keep collecting!
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
Comments
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
allowed to sell almost every coin for the same as i bought it or for
a profit. Even my mistakes made a few bucks.
i have been collecting different things over the years and I detest
buying a collectible and losing money on it. part of the fun of a collectible
hobby to me is buying smart.
there are very few cases where i like something so much i am willing
to instantly take a loss to aquire it. that does not make much sense
to me and will patiently wait to buy it from a person taking that loss
instead of me.
Doing photography I make up for any losses by getting to glimpse some real solid PQ stuff I might not ever get to see up close. This far out weighs any loss that I may or may not have incurred.
....
.....
......
That and it's just plain fun.
The only loss I suffer from is an empty wallet.
disturbing loss of all...was my mind.
Camelot
<< <i>I have found that the most
disturbing loss of all...was my mind.
Is that the blur that happens during the day when you look up and all you see is silver disks?
salt on my wounds
and rub it in real good.
Camelot
<< <i>That's right, just pour
salt on my wounds
and rub it in real good.
Bear jerky?
<< <i>
<< <i>That's right, just pour
salt on my wounds
and rub it in real good.
Bear jerky?
Marinated in honey and Jelly doughnuts, or just regular???
For me it a hobby, just something I do for fun.
If I go out to play golf, I don't expect to make
a profit. If I go out to a movie, I don't expect
to make a profit. For some reason people
expect coin collectors to make money.
A dealer...sure, but not a true collector. If I
make a few dollars, great. If I lose a few
dollars, that's fine too.
~
"America suffers today from too much pluribus and not enough unum.".....Arthur Schlesinger Jr.
Than i spent 10K at the race track and
went home broke...Buy coins and have fun.
I'm not concerned about a few bucks here and there, but I'm not spending $1000's on coins, so I'm not losing large sums either.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
It would be an unusual person that just plows money into collecting something w/o thinking of the financial consequences...... I collect alot of stuff and the $$ risk before pulling the trigger is always foremost in my mind, whether it's stoneware, lamps, furniture, cigar store indians, curreny or coins.
Making money, or at least breaking even, allows me to keep collecting!