<< <i>If you intend to hand down you coins to your kids it is an investment for them....one that we as collectors enjoy. Its a win win as long as whoever receives your collection is instructed in the proper sales techniques should the need or desire arise. >>
Agreed. That is why I have codes on the back of all of my coins with what I paid for them. My wife and I are the only ones who know the key to those codes. >>
...the IRS may take an interest as well.
"government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
<< <i>Perhaps I am overly cynical, but I believe that at least part of the reason that the idea that numismatics is not an investment has been hammered at collectors over the decades is so that those collectors will not seek a positive return on their investment when it comes time to sell and that those collectors will be of a mindset that it is not only okay to lose part of the initial investment, but that one should expect to lost part of the initial investment. For me, I invest time, money and energy in numismatics and I wish to waste none of these. >>
...i'll agree.
"government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
<< <i>Coin collecting is not an investment. Then why do we spend so much time and money collecting?
The same reason we collect Hermès silk handkerchiefs; though not as heavenly soft.
>>
...NT?
"government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
Like the Hermes scarves, I collect other things that bring me enjoyment. But just because I enjoy collecting something doesnt mean I am ready to lose money at it. It would distress me if my collectibles suddenly dropped in value as Bill Jones said. Part of being a collector is making good desicions when buying, not just doing so blindly. You also have to make your own decisions and mistakes which is how we learn. If we collect based on what others say, then all we would have in our collection are BU state quarters because the coin tv sellers say they are valuable!
Here are a few other of my prized posessions that I purchased after doing research on them.
AJ
All coins kept in bank vaults. PCGS Registries Box of 20 SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
I've always liked that Micky Mantle card, although I think the '56 and '59 horizontal ones were classier. As for the Babe Ruth signature, that had to be one of the last ones he signed since he died in '48.
Yea, I'm also an old time baseball junkie.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
<< <i>I've always liked that Micky Mantle card, although I think the '56 and '59 horizontal ones were classier. As for the Babe Ruth signature, that had to be one of the last ones he signed since he died in '48.
Yea, I'm also an old time baseball junkie. >>
Thats correct Bill! Babe passed on August 16, 1948. So that was signed under two months before. I have a signed ball by him as well, and one day it will belong to my daughter.
This is my favorite Mantle card.
And this is currently my favorite piece of art. Circa 1963. Color drawings by Schulz are extremely rare. I purchased this directly from Anne who knew Schulz.
AJ
All coins kept in bank vaults. PCGS Registries Box of 20 SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
For those who say that their collection is not an investment, but a hobby, do you talk about the money you make on this or that coin? It can be that the investment side of coin collecting is an integral part of the hobby, but one should recognize that when allocating money as well as time. No problem with it, just call it what it is.
I collect because coins are like little works of art. I aim to get good prices on them nearly always, but there's some that I won't get 50% back when it's time to sell, and I am okay with that.
The way I see it, even a -50% return is way better than the -100% that other hobbies have. I like beer, but no one is going to pay me when I try to resell my beer gut
Coin collecting can be both a hobby and investment, it does not have to be one or the other. Many collectors have made more through their hobby of coins than they would have in the stock market of the last ten years. What other hobby can you have fun, learn about history, and make a bundle of money at the same time?
For me coin collecting is a hobby and a form of savings. I could park my money in the bank or mutual funds for many years, or purchase coins and enjoy them for a lifetime. If I need some money, I can sell a portion of my collection.
Robert Scot: Engraving Liberty - biography of US Mint's first chief engraver
Is it really a hobby or an investment when you have to buy EVERY coin for your collection? Even as common as Morgans are it is difficult to start a collection without having to purchase even the most common examples. Used to be you could find the common stuff in change and maybe wait awhile or buy the harder to find stuff.
Comments
Coins: History in your Hands
Liberty: Parent of Science & Industry
<< <i>
<< <i>If you intend to hand down you coins to your kids it is an investment for them....one that we as collectors enjoy. Its a win win as long as whoever receives your collection is instructed in the proper sales techniques should the need or desire arise. >>
Agreed. That is why I have codes on the back of all of my coins with what I paid for them. My wife and I are the only ones who know the key to those codes. >>
...the IRS may take an interest as well.
<< <i>Perhaps I am overly cynical, but I believe that at least part of the reason that the idea that numismatics is not an investment has been hammered at collectors over the decades is so that those collectors will not seek a positive return on their investment when it comes time to sell and that those collectors will be of a mindset that it is not only okay to lose part of the initial investment, but that one should expect to lost part of the initial investment. For me, I invest time, money and energy in numismatics and I wish to waste none of these. >>
...i'll agree.
<< <i>Coin collecting is not an investment. Then why do we spend so much time and money collecting?
The same reason we collect Hermès silk handkerchiefs; though not as heavenly soft.
...NT?
Here are a few other of my prized posessions that I purchased after doing research on them.
AJ
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
Yea, I'm also an old time baseball junkie.
<< <i>I've always liked that Micky Mantle card, although I think the '56 and '59 horizontal ones were classier. As for the Babe Ruth signature, that had to be one of the last ones he signed since he died in '48.
Yea, I'm also an old time baseball junkie. >>
Thats correct Bill! Babe passed on August 16, 1948. So that was signed under two months before. I have a signed ball by him as well, and one day it will belong to my daughter.
This is my favorite Mantle card.
And this is currently my favorite piece of art. Circa 1963. Color drawings by Schulz are extremely rare. I purchased this directly from Anne who knew Schulz.
AJ
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
It can be that the investment side of coin collecting is an integral part of the hobby, but one should recognize that when allocating money as well as time. No problem with it, just call it what it is.
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
The way I see it, even a -50% return is way better than the -100% that other hobbies have. I like beer, but no one is going to pay me when I try to resell my beer gut
For me coin collecting is a hobby and a form of savings. I could park my money in the bank or mutual funds for many years, or purchase coins and enjoy them for a lifetime. If I need some money, I can sell a portion of my collection.
A hobby is just that a hobby!
Investment are investments that one hope to make a profit!
I hobby on the other hand is for fun and enjoyment, somewhat like a vacation only that you have something to show in hand...
tell me about how much enjoyment you have watching you 401 or IRA have ups and downs.