When do you think you will retire from coin collecting?
Stooge
Posts: 4,673 ✭✭✭✭✭
Since I turned 50 last yr, I've been thinking of retirement on & off (Mainly d/t the stupid AARP junk mail I get now) and was wondering how old do you plan to be when you retire from collecting?
Do you plan for it?
When ur eyes go?
When you decide to liquidate and take the funds?
I'm thinking I still have a good 20+ yrs to collect before I stop collecting.
What say you...
Later, Paul.
1
Comments
What would you do for the next 40 year?
Personally I think 50 is too young for any kind of retirement whether it’s coin collecting or employment.
When I die or for some other reason am unable to continue.
When the paddles don't do their job.
I hope you have a good 50 years ahead of you. Eric Newman still had his collection when he was over 100!
When I take my last breath.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I thought that was what the PCGS/CAC combo were for.
On a serious note, retire from collecting when it no longer piques your interest and no longer brings you pleasure.
When I take my last breath.
+1.
Member ANA, SPMC, SCNA, FUN, CONECA
Guessing about 7 years from now. Hard to say as many things can and will change.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
60 yrs old, retired now for 4 yrs and my eyes are going bad. So I have slowed down buying coins cause expensive mistakes might be in my future. But I have not slowed down in my interest. I am more involved in coins than ever. President of local coin club, Treasurer of regional coin club, doing educational presentations regularly and I love it.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
Personally I think 50 is too young for any kind of retirement whether it’s coin collecting or employment.
I think that the earlier ANYONE can retire the better for them. my personal joke goes like this, "Noone was ever on their death-bed thinking 'Man, I wish I would have worked a little bit more.'" get out when you can and stay active, let the youngsters sweat for awhile.
oh yeah, keep active in the Hobby as long as you can.
Retiring from work is good (though I keep going back from time to time...for fun)....retiring from coin collecting, or any other enjoyable pursuit... For me, that will not happen... until the big dirt nap. Cheers, RickO
With the grave.
Taking mine with me.
I think full retirement's a harsh move for anyone who loves coins, but a lot of us aging collectors are putting the brakes on acquiring and are trimming down our holdings to a core collection. I still feel uneasy leaving a large collection for my family to deal with someday.
Commems and Early Type
Retire from coins? Not in the foreseeable future.
I am stilling studying and admiring what I have although I am strongly curtailing my purchases of U.S. coins. I am actively looking at British coins and dabbling in ancient Roman and Confederate currency.
Totally agree! Retire.....never!
Once I die hopefully after the coins are released for America’s tercentenary in 2076.
I about spit my soda out!
That's when you become a grader!
Hard to say for me. I typically get hugely immersed I’m my interests. Sometimes I go from one into the other full throttle until I master it, meet my goals and interest peters out and then transition into something fresh. Still, coins have found a way to ride along side these other interests just fine and stay relevant as other things change. Maybe coins are just such a deep field it’s tough to really fully burn out and or the time I put into them just doesn’t conflict with work or other pursuits. Maybe I’m just powerless to the allure and have a tendacy to seek out things that are totally awesome. I guess after this much time in, it looks like I’m on for life at some level.
Cashing out is an element, but different than retiring from coins if you ask me. So much to read, study and learn. Goals not tied to what I still need to find and buy or say I owned once. Cool stuff got me in but now it’s the learning and problem solving and people that keep me around. I don’t see why this should stop.
Like I tell 'em, retirement is like going to Heaven without having to die.
As for retiring from collecting coins, that'll only happen when I find playing a harp more appealing.
Here's a warning parable for coin collectors...
I can't see myself retiring from a hobby. Retiring from work would be great but I like buying stuff so, nope.
"A dog breaks your heart only one time and that is when they pass on". Unknown
The way things are going today..............in about 10 minutes
You retire and get INTO coins, not out of it!
There are so many things I love getting my hands on ........ and juggling the time as well as the allotted fund will only enhance my future into retirement.
I agree with @EagleEye ...... your hobby should intensified once you retire
I think coins are a great retirement hobby. Before then, there’s not nearly as much time available.
I would want to retire from work first. Then I could not think of stop 🛑 looking for the right coin I can capture on camera.
Especially after Justin Lees images he just took in 3D. Lots still to learn about coin collecting.
Never - my coin business supplements my other income.
Photography is a great skill to work on in retirement!
Since my set is nearly complete: I am slowing down.
But I will never retire completely.
Gonna save some money and maybe take a trip or two, then get back into it in a of couple years.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
That time will come when it comes, no point in worrying about it.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I have retired from collecting twice already in my life; just reinvented myself and my collecting goals after both times!
Enjoy Everything till the end!
100% Positive BST transactions
I'll likely never totally retire from collecting. While my interest ebbs and flows at times, I'll never completely quit on these little over priced metal disks.
I did retire early 3 years ago, in my 50s. Investing in R.E. and the stock market made that possible. Never regretted it one day. I really enjoy the freedom. My advice is retire as early as you can, assuming you can, financially. Remember that each day you work is one less day of retirement. The clock is ticking.
Have fun!
Dave
One more thought. If you don't have an ANA membership and sign up now, you can still get one of the following:
I plan to retire from my full time job at age 60 which is about 5 years and 4 months. That's when I plan to become more active in collecting, going to shows , buying and selling. So I guess my answer is, I really don't know!
I am retired from employment, and next year I will be required to take the mandatory 401K withdrawal at 70 1/2. Been treating coin collecting as a hobby, but I am having a hard time justifying the expense on fixed income with the coin market in the current down swing. I have been considering semi retiring from collecting once my 7070 Registry set is complete (4 coins remaining) with the following exception that a coin must sold before buying a new coin. There are no plans in the works to sell my entire collection.
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I try to sort of prune as I go, and I can think of various things that would prompt me to do a more major selloff, but still and all I think it's safe to assume my heirs will get some sort of a coin collection to deal with.
I'll never really get out of collecting but I am selling the volume and some of the value to minimize the impact of having to dispose of the collection on my heirs.
I'll keep a few favorite collections (especially low value ones) and anything which has a weak market up until I leave it all behind.
Mebbe with all that time on my hands I can learn the harp and how to collect coins in the cloud.
I will get my 50 year ANA membership medal this year in Chicago.
50? You're still a kid.
Great transactions with oih82w8, JasonGaming, Moose1913.
If/when I go blind. Otherwise never-it keeps me sane in my retirement.
I will get my 50 year ANA membership medal this year in Chicago.
Congratulations - I have seven years to go for mine.
Member ANA, SPMC, SCNA, FUN, CONECA
Enjoyable discussion. I'm 63. I just started a few years ago. I try to find stuff I'm interested in and make it break even through resales and trades. My Kids and Grandkids also enjoy messing around with me and my coins...so...as long as it's still fun and affordable I'll continue.
Pre-retirement hobby: coin collecting, Post-retirement hobby: coin selling, but slowly. I won't burden my heirs with something they will have a difficult time getting a good value from.
Some kind of remark with "my cold dead hands" would apply for me. As someone wrote, I'll stay with the hobby as long as I find it interesting and fun. Only diminishing eyesight would make me think of selling out, or at least thinning the herd.
Pete
Louis Armstrong
If you're interested, you can have PCGS slab your ANA 50th Anniversary medal like they did for John Jay Pittman. I'm thinking about having the Newman medal slabbed and TrueViewed.