A question about delayed gratification...UPDATED!!!

OchoReales

It's been stated here on the boards and repeated by many that, as a group, we are a strange lot who suffer to some degree from Obsessive Compulsive Disorder (if there really IS such a thing ). However, in light of my query regarding pleasure from our collecting pursuits, whether in the 2, 3, 4 or even 5 figure categories, I noticed that I seem to be one of the few who purchase in the 4 figure range (with an eye on moving up to the latter ). This brings up an entirely new set of questions...

1) Regardless of your purchasing parameters (dollar wise), how many fellow board members experience delayed gratification by purchasing (through dealers or from auctions) on a Lay a Way plan? I know that from personal experience that it was hard for me in the very beginning because I have the 'I WANT IT NOW' mentality when I see something (beer pockets and champagne taste, notwithstanding).

2) If YES to question #1, How have you adjusted to the waiting period while paying off your newly aquired GEM(S)? and as a bonus for taking the time to read and answer my diatribe;

3) Is OchoReales; a) out of his mind for REACHING past his grasp to acquire truly scarce to rare additions for his burgeoning collection, b) smart like a fox (in the vein ((although I strongly hesitate to compare myself to) like a John Jay Pittman or c) a little of both with the caveat that Ocho spends way too much time on self introspection?

Thanks in advance for all the replies to this UNofficial poll!

laurentyvan

Good question!

Several years ago I purchased a 6 piece 5c through 5L 1894/1898 San Marino type set for approx. $700.

At the time, it was easily my largest $$ purchase. It was at a B&M store and I put the items on layaway,
planning on paying $100 per week for 6-8 weeks, depending...

My intentions were honorable but greed got the better of me and I managed to squeeze
the budget and the coins were mine in either 2 or 3 weeks, I don't remember exactly.

I never regretted buying them faster than intended.

I still use layaway at the same store.
I always have a vinyl bank bag waiting there for me, full of future purchases.

I buy more slowly now as I can't squeeze the budget like I used to anymore.

But I still don't hesitate to put items in that bag when something new comes in.
Otherwise someone else would end up owning them and I can't have that now, can I?

ed to add: no, Ocho is not mad or crazy, just smart like that proverbial fox.

TokenTinker

I haven't much of a budget for adding to my meager collection right now and it irritates me. I've no regrets in buying the motorcycle or in doing what I have to to maintain my household, but I've at least 30 pieces I have my eye on and it's frustrating to watch another few weeks roll by an no ability to move on any of them. I get to photograph other people's piece's all day and that's interesting, but I won't start work or research on a coin or token for myself that I don't yet own even if I have the chance to photograph a "future" purchase.

Bjorn

1) Never thought about it, but sounds like a good idea.

2) NA

3) Smart, very smart...

canadacolornut

As an endemic OCD guy( and yes there is such thing) I have to say that.....

1. It's a wonderful idea and I wish to hell I'd been doing it since I first got into collecting some 35 years ago.

2. I always rationalize my "gotta have it!" purchases by promising myself I would get onto Ebay and sell some of the
less desirable(which were mighty damned desirable when I bought them!) coins to pay for it- but never do.

3. If I could work a deal where the dealer would let me have a great picture of the coin and the grade to slap into my registry
set even though I hadn't fully paid for it yet, I'd probably do it in a heart beat.

4. Number 3 above would be absolutely the worst thing that could happen to a committed OCD guy like myself.

I'd end up with this beautiful gallery of to slobber over coins from all over the world, owning just a piece of them and paying on time like the
share croppers of the 30's while owing my soul to the company store.

But hey! At least it's coins and not the horses, the gambling tables at Vegas or a pack of meth that I have to drive down
to car jack town and meet Ahmed to get my fix. If that's any kind of decent rationalization.

Reminds me of the statement George Raft, the movie great of the 40's, made to a reporter who asked him how he ended up
in bankruptcy court after he'd made so many millions on his movies.

He said " I spent most of it on women and horses.

The rest I just squandered, I guess"

theboz11

Never used a lay away or really ever though of it. Good idea but my credit card does basically the same thing.... My 4 figure purchases are always preceded by Sales of coins I own to make the purchase. You can't keep them all. Coin collecting is how I satiate my OCD.

WWW

I have done the lay away thing before just to make sure I get the coin(s) I want/need.
Meanwhile, I work up a strategy to get the balance paid off as fast as possible.
1) Beacuse I don't like delayed gratification. My needs are much more immediate.
2) I hate owing anyone money for coins.
3) My wife hates me owing anyone money for coins.
4) Ocho is crazy like a fox. Mostly.

marcmoish

Gary I kind of agree with anyone that says NO to layaways. If you can't afford the coin at that time you really need to pass. Layaway or delayed gratification (lol) or whatever names you got ... is in effect like opening up a new credit card, debt or paying off a line of credit. Heck I don't want ot owe anyone money for coins.
The wife, the mind, the CPA .... that birches about this or the like is rightfully so..debt is debt and it CAN bring you down quickly
That said - yes I believe its OCD, shees gambling annonymous should be ordered for most of us.
ccnut mentioned the ebay option - I agree its very tough to sometimes sell something else so you "replace" or "replenish" the need - darn we are indeed a weird bunch after all

Of course the best route is to make alot of money retire and spend it all on those gorgous colorful widgets .

coinkat

First- Please do not believe everything you read... we are not strange.

Could it be possible that eveyone else is?

For the record, do not answer and take the 5th

The obsessive compulsive thing is not applicable- coins are better than other things- no further commentary needed or required

Payment plans? Only on very, very rare circumstances- and it better be good

MacCrimmon

Actually, I've done informal "plans" a few times in the past on coins which I knew would probably not show up again for 10-15+ years or so. But, I never paid any of them a 'deposit' to hold the coin for the 2-4 months, or whatever. Although I understand the necessity for contracts where large corporations are concerned, I prefer to agree to price/terms, shake hands, and later fulfill; Word is Bond.






































































Enjoy your new coins...........................WHEN YOU GET THEM!!!!

OchoReales

Enjoy your new coins...........................WHEN YOU GET THEM!!!! >>




Believe me, I WILL! Most of the lots I won won't show up again for 5-10 years, IF they show up at all (me being in the right place at the right time!)
The BIG coin in the group (1767 PTS 8R) is the finest known, outstripping my coin by 4 grades and is also 10 x's more original than my current piece.

MrEureka

First, I don't mind waiting to take delivery if that's what it takes to get the deal done.

Second, stretching (if not torturing) the finances for a "special opportunity" makes sense if you're realistic about your capabilities. And being "realistic" includes limiting your collection in such a way that special opportunities don't come up every few months.

MacCrimmon

<< <i>First, I don't mind waiting to take delivery if that's what it takes to get the deal done.

Second, stretching (if not torturing) the finances for a "special opportunity" makes sense if you're realistic about your capabilities. And being "realistic" includes limiting your collection in such a way that special opportunities don't come up every few months. >>




Spoken like a true CAR Orohound.





<< <i>The BIG coin in the group (1767 PTS 8R) is the finest known, outstripping my coin by 4 grades and is also 10 x's more original than my current piece. >>



Ocho, sounds nice, and worth the effort, and SUFFERING. Have a fino Chilean wine for your efforts.

OchoReales

<< <i>First, I don't mind waiting to take delivery if that's what it takes to get the deal done.

Second, stretching (if not torturing) the finances for a "special opportunity" makes sense if you're realistic about your capabilities. And being "realistic" includes limiting your collection in such a way that special opportunities don't come up every few months. >>



Don't be hatin'!

Zohar

I have had dealers whom I built a relationship with ship the coin over with 1/2 payment down. I tell them that I will pay this off in a month, ends up that I pay the difference in days. I don't like debt and as Marc said, if you can't afford it, let it go.

OchoReales

<< <i>Enjoy your new coins...........................WHEN YOU GET THEM!!!! >>




Thanks Mac, I AM!




An example of my delayed gratification!

1700 Great Britain Shilling PCGS 66



And another...

1797 Great Britain Two Pence NGC64 BN ex. Exeter College




Worth the wait, I'd say

Edited to add; the Heritage photos DO NOT do these two coins, justice! I'll have to reshoot them.

Zohar

Beauties!