Hindsight 20/20
Gazes
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Question---if you had put a majority of your investments into coins when you started collected---would you have done better than the investment strategy you in fact actually took. Now a few comments. I realize everyone started collecting at different times. That's ok ---just answer for yourself. Second, I know it is impossible to know what you would have bought and sold. However, use your best guess knowing your collecting style what you would have bought. I think you can assume you sold as much as you sold your actual investments (if you never sell stocks than assume you never sold any coins ). I know there is no precise way to do this but I would be curious to hear everyone's thoughts. Thanks
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When first started doing shows in 1990 wish had gone more into large size US Currency, especially Gem Nationals. Also would have concentrated more in world and bullion US gold.
Your question addresses. But what if you wish you had invested more money in coins vs spending it on travel and entertainment related things which once that money spent gone forever.
and deservedly so.
While very high end coins have been good investments over the extremely long term, even most dealers warn collectors not to treat their coins as investments because that market is so unpredictable and inefficient.
I would rather have my tactically managed portfolio of stocks and ETFs.
But so are the stocks and ETF's unpredictable. Sorry makes no sense to me.
The movement of the investment markets can not be predicted, but there are trends that can be tracked and followed.
In fact I'd need my investments to cover my losses from buying coins.
Not even close.
In fact I'd need my investments to cover my losses from buying coins.
+1
For me, I find it healthier to keep the concepts of investing and collecting in different sectors of my brain. It's probably not a good idea to put money you can't afford to lose in something as ephemeral as collectibles. It's a hobby for me, and just something that's supposed to generate enjoyment. If it makes a few bucks, fine. If it loses a bit, fine. It's the thought of total collapse of the coin market that's uncomfortable.
I try to rationalize the collection as a diversified tangible asset, but the opportunity costs of holding non-producing items are real.
thing) detracts from the pleasure of life. Sure, some will disagree, but such a narrow life scope limits one's experiences and pleasures. I do not know of anyone who, on their death bed, summoned the strength with their last breath, to say "I wish I had worked harder and longer."
Cheers, RickO
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Whatever you are, be a good one. ---- Abraham Lincoln
I really don't think so about the one fifth. I started investing in the stock market with index funds and have done very well, even with the downturns. Yes, some coins have done well but like others have said, it's far easier to buy and sell stocks.
10-4,
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My registry sets
I collected world coins the better part of 40 years. So much more bang for the buck and very few were interested in world coins at the time. I always felt that as the rest of the world economy grew so would the market for other country's coins. You know what? I was right! I have done extremely well! I puled every cent I had out of the stock market in the mid nineties and put it into coins. I would wager I would be worth 1/5th of what I am now if I had left that money in the stock market! I started selling my world coins about 10 years ago and am still selling. I wish I had waited a bit longer as many of the coins I sold early have gone up quite a bit since I sold them.
From the mid 90's. most major stock market indices are up multiples of the earlier level.
In fact, $10,000 invested in the S&P on 1/1/95 would be worth about $65,000 now.
A bit of tactical management made the numbers look much better
Are many coins worth more than 6 times what they were 20 years ago?
There are Old Pilots and Bold Pilots but there are no Old Bold Pilots.
In having to deal with going to numerous crash site, the words of the Prophet Clint Eastwood often came to mind:
"A man has got to know his limitations."
For the elite 1%, they can make a decent to excellent living off of coins. I am not counting those that profit solely by ripping off the uninformed or desperate.
I am not in the group.
But I did retire at 53, no pension, taken a few jobs to ease the boredom and keep SWMBO happy. My retirement and 401k's are happy in the stock market, and I have not touched them yet. I play with big boy cars now.
If I would have rolled it all on coins, I would probably be in the Veteran's Homeless Shelter.
I collected every coin in KM by date. I had a rule I would never sell anything I didn't already have. I was constantly upgrading and adding while more than paying for what I kept with the duplicates I sold. This is actually how I became a dealer. I started setting up at shows to buy all those unwanted World Coins!
Kind of a dumb question (no offense) but everyone would do better because they would pick the path that would do better. Someone is going to say I would pick the exact same path because I'm a true collector and don't do it for the money, ya right. Even you would buy some home runs to cover your true blue collection.
Sorry you found my post to be a "kind of a dumb question". I did preface the question saying I know it would be impossible to say with any certainty but try to use your best guesstimate knowing your collecting/purchasing style. Some styles probably have a better return than others. Judging from the responses not everyone agrees they would do better since many people said they wouldn't have. Again, I thought it was a fun question and that would create some interesting responses. Again, sorry you found it "dumb"
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Remember OP, when you first joined our forum I told you that you'll be sent to school! On this forum, one must deal with some criticism. Your in school learning about disagreements, tests on your patience and other things. Just learn to not take every response personal. Remember, just have fun! To answer your question, I probably would have kept up with collecting various "sets". I did finish a few but end up selling them. In which, I regret to this day. Esp. my Buffalo Nickel set. Man-n-n, I love that set but apparently, not enough to keep. Oh well, this happens in the hobby.-joey
Thanks Joey. My response to Iwasagent was mostly to explain it was a fun question to hear about people's thoughts---and looking at the thread I think that was accomplished. Trust me, I don't take it personal and thought my post was positive. I will say that I personally would not have responded to anyone saying "its kinda a dumb question" but that's just me and how I handle myself. He is certainly free to speak his mind.