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short term ownership of a coin
Gazes
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Have you ever bought a coin that you knew you would only keep for a short time (12 months or less) and you did not purchase to flip for a profit? In other words, did you just want to have the privilege of ownership even for a short time and to enjoy the coin (as opposed to buying a coin with the intention of making a quick profit)?
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Yes. I have bought several coins this way. Just to have one, and see how it fits. Sometimes I lose interest and sell it off. Just did that my ms65 Morgan.
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I think it’s time for a coin rental business to start up.
Years ago I heard of a part time dealer acquaintance who purchased a piece of plate money, well outside of his area of expertise I think, at a show simply because he always wanted to own one. While certainly open to a flip that was not his intention for this piece. But by the end of the show it had found a new home. I understand that this was not the first time he had done something like this...and once the box had been checked off his bucket list he was ready to move onto something else.
We collectors are an odd bunch indeed.
Not intentionally, but it often happens.
Never have...I collect and hold long term.
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
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No. I have sold some, but did not buy intending to later. I have low balled and flipped years ago in pre internet Heritage auctions. Bid very low on lots of coins. Win one or two, flip and use the $ toward what I really wanted.
again , not necessarily intentional, just decided it wasn't for me at a later time
No, I would think that this thought or idea would appeal to those that desire to own a piece of a historical collection. So buying for the name on the slab rather than the coin itself, in that case I could see where it would be easy to be a check off the list item and sell quickly. I have never thought that way and don't see that I ever will.
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Many times.... Dealers love it when I do that.
All the time. Most of the coins I buy I intend to flip. Probably buy one a month cause I like it. They typically get sold in a 12 month window.
There's quite a few collectors who never own a coin for more then 30 days as I guess the honeymoon phase wears off?
No... I typically collect and then hold for several years before losing money! lol!!
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I've purchased coins in the past (typically raw) just to get some practice photographing a series I don't have much practice with.
Since you explicitly state "not to flip", my answer would be "no".
When I buy, I buy for our collection. I think there have been maybe 1, or 2, that I've sold in under 12 months...and usually only if someone saw it and really wanted/needed it for their collection.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I know a few guys who do this with high end cars, $50K to $500K.
They buy it, knowing they will hold it for year or so, and off to another one. They even do some cross sales to each other.
I have considered doing that from time to time with very expensive coins, just to enjoy a coin I really could not afford to collect. But the ~ 20% rental fee has prevented me from doing so, yet.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
I keep a record of all coins I have purchased since 2013- trying to complete the Eliasberg Jr.* Challenge.
*The Eliasberg Senior challenge is owning all dates, denominations and mintmarks at one time.
The Eliasberg Junior challenge is owning all dates, denominations and mintamarks at SOME time.
I’ve thought about this for exonumia if only to get good photos taken and / or submitted to the top TPGs for cataloging purposes.
I’ve also thought about it for flipping purposes. I’ve been able to cherry pick items at 10% of the regular price but haven’t gotten around to selling them.
I am "collecting" a set of proof Indian cents by owning them one or two at at time and keeping images of them as I go
I try to make a little on each since I am only 8-10 coins into it. This will hopefully build until I can afford a '77. I want to be able to
I can't afford a collection of proof Indians 64 and higher so my goal is to own one of each at some point before I go to the big show in the sky. I own the images. I can show my "collection" freely on the internet, I have shared my images with more people in the past year than I showed all of my actual coins to over the last 35 years.
I want to be able to have a complete proof Indian collection with a net zero cost.
My last buy was a 1865 raw. I'm hoping to bet a 64 when I send it in. I paid 63 price. It should 63 easy.
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My most recent coin purchase was just to look at it under a microscope. Yep, it has what I thought it had. Now I don't know what to do with it.
I don't like to sell. I'm a young collector and want to save as much as I can for my future children. I do not own a great set now but one day it will impress
I would wager many people do it without realizing it....IE the hole filler until a better coin can be found.
I have certainly been guilty of that!
I’ve heard people say “I’ve had one of those once” or “I owned that one once” like it ment something. I suppose it does on some level.
I think it’s cool to build a collection, but time and ownership are realative terms. Human life spans quickly pale compared to geological time and ownership means little more than controlling what happens to a game piece trinket widget and if you decide to change its appearance or not while in your possession.
If I purchased it, I still own it... except those purchased specifically for gifts. No short term ownership here... I buy what I like and keep it. Cheers, RickO
very rarely do I do that and usually trade up for that
That was my goal with the ultra rarities
Are we not all keepers for a short term of our numismatic fancies?
I abide by the "we are mere caretakers" school of thought. I keep everything in boxes, (PCGS or NGC), if it get's in a box it stays there. If it sits on the shelf, it's inventory.