As others have said:
Depends on you, the quality of the land, the location, what you're going to do with the land....
Your health, your coins....
Too many variables to even venture at an answer for ya...
Take out that sheet of paper and write out those pros and cons as recommended.
It goes a long way with decisions like these.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
We would probably all urge caution if the question was reversed; that is, if someone came to the boards to ask if they should sell their farm and buy coins. In my experience, Bill "fountain of wisdom" Jones is right about the potential pitfalls of farm ownership. Small farms are usually marginal enterprises, and takes years of experience to discern a great opportunity from a stinker. It's like the difference between a fresh original crusty CAC approved type coin, and a frequently-traded messed-with dog you get buried in. Like in coins, there are experts in evaluating farmland who can help point out features and problems.
Here's few tips I've learned over the years: Think about what you want to do and build on the property and make sure you can do it. Consider what the neighbors are doing or are planning, because you don't want to live next door to a nuisance. Will local land use changes on the horizon affect you positively or negatively? Investigate your access to water and other services, because even if you don't need it, the next buyer will, and you might have a hard time financing future improvements if there are service deficiencies. Depending on where you are, your standard title insurance might not cover issues like boundary encroachments and unrecorded easements, so talk to your neighbors about fences, roads and paths before you buy and consider getting expanded title coverage. I'm probably forgetting some things, but you see the point. The goal is to get something nice with no unpleasant surprises.
All that said, if it's a good deal, I'd sell the coins and buy the farm.
As many have said, there is no reasonable way to discuss this idea without knowing more about the context of your life, goals, dreams. I've always wanted a mountain cabin in the woods with a year round creek flowing through the property.
@Baley said:
As many have said, there is no reasonable way to discuss this idea without knowing more about the context of your life, goals, dreams. I've always wanted a mountain cabin in the woods with a year round creek flowing through the property.
Should I sell some investments and buy one?
Maybe.....
You only live once and life is too short.
I came close to doing just that, but my due diligence on that cabin turned up too many risks.
So, we bought a place out on an Island instead! Renting it out until we can move there. A guest house on the land in the meantime... Lots of work, headaches too- but it sure is SWEET...
Some folks love the city, and some the country, mix it up for some......
Variety is the spice of life they say.
I trust you'll keep us posted?
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
@GotTheBug said:
Personally I am not an empire builder so I would keep my coins. They're portable and don't require much upkeep.
That being said, it's not me, it's you who is making the decision. It sounds like you have a very, very, very nice collection if you could buy a farm with the proceeds of the sale and I wish you every success! I would venture to say though, don't go into the dairy business, unless you like working 16 hours a day, 7 days a week until the day you stop farming....
That's my thoughts.
At my age, a farm sounds daunting and nothing I'd want to be tied to.
I'm sure you'll make the right decision as your a sharp guy. Just keep in mind it's a hell of a lot a work to own a farm, but I'm sure you already know this. On the flip side I love your coins and would hope you do not leave the forum. I for one like you around.
The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
@Baley said:
As many have said, there is no reasonable way to discuss this idea without knowing more about the context of your life, goals, dreams. I've always wanted a mountain cabin in the woods with a year round creek flowing through the property.
Should I sell some investments and buy one?
Maybe.....
You only live once and life is too short.
I came close to doing just that, but my due diligence on that cabin turned up too many risks.
So, we bought a place out on an Island instead! Renting it out until we can move there. A guest house on the land in the meantime... Lots of work, headaches too- but it sure is SWEET...
Some folks love the city, and some the country, mix it up for some......
Variety is the spice of life they say.
I trust you'll keep us posted?
At the risk of hijacking Broadstruck's thread, I did it in the spring of 2015. This is in the Cascades
Real Estate is always more expensive than one calculates - it is easy to get financially buried in a home and property and become "house poor." If you have to sell all of your coins, it sounds like a financial stretch.
That being said, my wife and I live in a modern house on acreage, and we recently have been looking for a second home, a Victorian or craftsman, and keep our main house - and most coins. We actually made an offer and were able to back out when the inspection uncovered a lot of expensive problems. A big reality check that a vintage home could turn into a nightmare.
Robert Scot: Engraving Liberty - biography of US Mint's first chief engraver
Consider what the neighbors are doing or are planning, because you don't want to live next door to a nuisance,
Here one you should consider. The farm on which my parents lived was a quarter mile down the road from an pig farm. When the wind was right, you got to enjoy "Ode de pig" which was something less than fresh air. There was nothing my father could do about it because (1) the farmers were friends and (2) they rented my father's land. My father finally got a central conditioner for his century + year old farmhouse.
I have read of similar experiences in the real estate section of The Wall Street Journal. "City slickers" bought farms thinking they would be able to enjoy "the fresh country air" only to find out that the air was not so fresh when you down wind from a cow pasture.
Living out in the country can have its charms, but remember that any industry can have its noxious side.
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 ... ?
Comments
As others have said:
Depends on you, the quality of the land, the location, what you're going to do with the land....
Your health, your coins....
Too many variables to even venture at an answer for ya...
Take out that sheet of paper and write out those pros and cons as recommended.
It goes a long way with decisions like these.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
I don't think medical marijuana farms will be legal in Jersey for a long time.
Stick with exonumia and coins.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
We would probably all urge caution if the question was reversed; that is, if someone came to the boards to ask if they should sell their farm and buy coins. In my experience, Bill "fountain of wisdom" Jones is right about the potential pitfalls of farm ownership. Small farms are usually marginal enterprises, and takes years of experience to discern a great opportunity from a stinker. It's like the difference between a fresh original crusty CAC approved type coin, and a frequently-traded messed-with dog you get buried in. Like in coins, there are experts in evaluating farmland who can help point out features and problems.
Here's few tips I've learned over the years: Think about what you want to do and build on the property and make sure you can do it. Consider what the neighbors are doing or are planning, because you don't want to live next door to a nuisance. Will local land use changes on the horizon affect you positively or negatively? Investigate your access to water and other services, because even if you don't need it, the next buyer will, and you might have a hard time financing future improvements if there are service deficiencies. Depending on where you are, your standard title insurance might not cover issues like boundary encroachments and unrecorded easements, so talk to your neighbors about fences, roads and paths before you buy and consider getting expanded title coverage. I'm probably forgetting some things, but you see the point. The goal is to get something nice with no unpleasant surprises.
All that said, if it's a good deal, I'd sell the coins and buy the farm.
Might want to revisit some Steinbeck again.
Grapes of Wrath comes to mind ;-)
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
buy the farm and bury coins in the back 40
As many have said, there is no reasonable way to discuss this idea without knowing more about the context of your life, goals, dreams. I've always wanted a mountain cabin in the woods with a year round creek flowing through the property.
Should I sell some investments and buy one?
Liberty: Parent of Science & Industry
Maybe.....
You only live once and life is too short.
I came close to doing just that, but my due diligence on that cabin turned up too many risks.
So, we bought a place out on an Island instead! Renting it out until we can move there. A guest house on the land in the meantime... Lots of work, headaches too- but it sure is SWEET...
Some folks love the city, and some the country, mix it up for some......
Variety is the spice of life they say.
I trust you'll keep us posted?
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
That's my thoughts.
At my age, a farm sounds daunting and nothing I'd want to be tied to.
Will the climate support a marijuana crop?
I'm sure you'll make the right decision as your a sharp guy. Just keep in mind it's a hell of a lot a work to own a farm, but I'm sure you already know this. On the flip side I love your coins and would hope you do not leave the forum. I for one like you around.
At the risk of hijacking Broadstruck's thread, I did it in the spring of 2015. This is in the Cascades
Liberty: Parent of Science & Industry
Selling silver and gold? You might want to hurry.
Real Estate is always more expensive than one calculates - it is easy to get financially buried in a home and property and become "house poor." If you have to sell all of your coins, it sounds like a financial stretch.
That being said, my wife and I live in a modern house on acreage, and we recently have been looking for a second home, a Victorian or craftsman, and keep our main house - and most coins. We actually made an offer and were able to back out when the inspection uncovered a lot of expensive problems. A big reality check that a vintage home could turn into a nightmare.
Baley sold all his coins?
.
Here one you should consider. The farm on which my parents lived was a quarter mile down the road from an pig farm. When the wind was right, you got to enjoy "Ode de pig" which was something less than fresh air. There was nothing my father could do about it because (1) the farmers were friends and (2) they rented my father's land. My father finally got a central conditioner for his century + year old farmhouse.
I have read of similar experiences in the real estate section of The Wall Street Journal. "City slickers" bought farms thinking they would be able to enjoy "the fresh country air" only to find out that the air was not so fresh when you down wind from a cow pasture.
Living out in the country can have its charms, but remember that any industry can have its noxious side.