How much do YOU spend on this hobby, on going basis, minus the actual coins/supplies?

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Bochiman
Bochiman Posts: 25,790 ✭✭✭✭✭
in U.S. Coin Forum

Talking about things like fees and publications.....

Fees like:
Safe Deposit Box
Local coin club fees
ANA fees
EAC fees
The bust half dollar guys...I think you have an org with fees, right?
etc....

Publications that come out on a schedule like:
Coin World
CDN
Etc

(not talking about 1-offs like books, etc)

Was just wondering about that as I could see how people could be spending hundreds of dollars a year and not really realize it ($26/yr here, $100/yr there, $50/yr here, etc) unless you have a budget you pay attention to or something. Sure, many numismatists seem very anally oriented in numbers/accounting, but, sometimes, when calling it a hobby, things are different.

At my peak, I think I was probably spending ~$500/yr on those types of recurring costs. I don't think I was on the low end, nor the high end for some (I know some folks had multiple SDBs, spread out of multiple banks, at that can really add up).

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

Comments

  • Tibor
    Tibor Posts: 3,801 ✭✭✭✭✭
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    SDB 2@$75/year
    ANA $50 I think annual dues w/ hard copy Numismatist
    Coin World $35/year I think
    COINAge Usually 3 year hits. I don't have my check book handy.
    If anybody can recommend a coin club in N.E. Tenn. PM me please
    My biggest expense is gas/food/lodging going to Balt./Whit. and airfare to Rosemont.

  • CollectorBonEZ
    CollectorBonEZ Posts: 374 ✭✭✭✭
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    Local coin club $15/yr
    ANA $45/yr
    PCGS $150/yr
    Publications/Basic Supplies $185-$235/yr
    Travel expenses $500-$1200/yr

    So minus travel expenses what you are spending sounds about right for the average numismatist.

    https://www.pcgs.com/setregistry/mysetregistry/showcase/6602

  • PerryHall
    PerryHall Posts: 47,752 ✭✭✭✭✭
    edited September 27, 2019 3:02AM
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    Annual ANA membership.

    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

  • 1630Boston
    1630Boston Posts: 14,157 ✭✭✭✭✭
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    $250 +-

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko

    Bad transactions with : nobody to date

  • Stooge
    Stooge Posts: 4,700 ✭✭✭✭✭
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    Let’s just say a lot, like over a $1K easy.


    Later, Paul.
  • BillDugan1959
    BillDugan1959 Posts: 3,821 ✭✭✭✭✭
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    Beyond coins and books, the amounts are not that much. Club dues, magazine subscriptions, costs to go to a major regional or national coin show. Most important coins are purchased already slabbed, for instance.

  • Desert Moon
    Desert Moon Posts: 6,479 ✭✭✭✭✭
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    Memberships to PCGS, JRCS and LSCC, not much...........

    My online coin store - https://desertmoonnm.com/
  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    Extra expenditures are mainly books and membership. No SDB's or magazines. Cheers, RickO

  • 2ndCharter
    2ndCharter Posts: 1,743 ✭✭✭✭✭
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    Let's see ...

    SDB - $20 (hey, senior citizen discount)
    ANA - $46
    SPMC - $39
    FUN - $20
    SCNA - $12
    Coin World - $59
    BNR - $30
    Assorted reference materials - a few hundred
    Slabbing Fees - Varies but probably several hundred
    Travel Expenses - at least a grand or more
    Exhibiting Materials - a few hundred

    Member ANA, SPMC, SCNA, FUN, CONECA

  • SanctionII
    SanctionII Posts: 13,187 ✭✭✭✭✭
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    Too much and not enough, at the same time.

  • Kliao
    Kliao Posts: 5,802 ✭✭✭✭✭
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    None for me.

    Collector
    Over 100 Positive BST transactions buying and selling with 57 members and counting!
    instagram.com/klnumismatics

  • Kliao
    Kliao Posts: 5,802 ✭✭✭✭✭
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    None for me.

    Collector
    Over 100 Positive BST transactions buying and selling with 57 members and counting!
    instagram.com/klnumismatics

  • coinbuf
    coinbuf Posts: 12,567 ✭✭✭✭✭
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    Less than $150, SDB and I need to renew my LSCC membership that's all.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • thisistheshow
    thisistheshow Posts: 9,386 ✭✭✭✭✭
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    This is my first year as an ANA member. I will renew, possibly upgrading to the hard copy magazine.

  • Smudge
    Smudge Posts: 10,001 ✭✭✭✭✭
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    Do not forget the time spent. That's worth something.

  • golden
    golden Posts: 10,535 ✭✭✭✭✭
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    I do not even want to think about it.

  • BBN
    BBN Posts: 3,761 ✭✭✭
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    Just coins, no memberships, nothing. My wife and I give ourself $300/mo spending money each. I may buy a couple coins with that or I may wait 4-6 months and buy a nice one.


    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
  • WCC
    WCC Posts: 3,322 ✭✭✭✭✭
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    My only recurring expense is for a SDB. intermittently, I submit a batch of coins for grading or conservation, The last time was in early 2016 or 2017.

    I attempt to minimize this type of expense, as I'd rather spend my coin budget on coins. I will pay for things that are directly related to the coins I collect, such as for reference books and catalogs, but not otherwise. It adds up.

  • CWT1863
    CWT1863 Posts: 316 ✭✭✭✭
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    This is what it is currently. Will likely go down in the future as I become a life member in more organizations or if I decide to drop membership.
    SDB: $60
    ANA: $0 (Life Member)
    ANS: $145
    CWTS: $0 (Life Member)
    TAMS: $30
    NBS: $40
    C4: $30
    EAC: $39
    SPMC: $39
    FUN ($5)
    Travel: Depends on year

    ANA-LM, CWTS-LM, NBS, TAMS, ANS

  • ambro51
    ambro51 Posts: 14,471 ✭✭✭✭✭
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    Zero

  • Raybo
    Raybo Posts: 5,362 ✭✭✭✭✭
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    @ambro51 said:
    Zero

    I agree with ambro, but I did have to let loose with 5 clams last April for the CSNS.
    Now along with my coin purchases and fuel expense back and forth from the CSNS I have to let loose with a saw buck.
    :)

  • Hemispherical
    Hemispherical Posts: 9,370 ✭✭✭✭✭
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    Too much and not enough. It’s weird but it all comes out even.

  • Lakesammman
    Lakesammman Posts: 17,696 ✭✭✭✭✭
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    Not much annually - SDB free with account balance, ANA life member, no longer subscribe to the rags, PCGS membership for submissions, Shipandinsure.com to avoid lines at the USPS - the best deal of all! Probably $275 total.

    Gone but not forgotten: IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Ricko, Big Moose, Cardinal, CoinsAreFun.
  • Jinx86
    Jinx86 Posts: 3,729 ✭✭✭✭✭
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    My work is more than willing to cover my interests in this hobby; club fees, publication. Only thing I keep up on is my Pcgs membership.
    They see it as a way to encourage me to remain part of the company and engaged in the collecting community. I have been a member of the local coin club for nearly ten years, president for two of them and currently VP. I do what I can to bring in members, some become customers.

  • CoinNovice
    CoinNovice Posts: 151 ✭✭✭
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    If you ask me, not enough.
    If you’re asking my wife, too much!

  • Cougar1978
    Cougar1978 Posts: 10,067 ✭✭✭✭✭
    edited September 28, 2019 6:02PM
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    Beyond inventory, shipping, and packaging supplies:

    Beyond my CDN and PCGS collx club subscription nothing. Did not renew others CW, NN, BNR. Go with freebies / without.

    1. I stay on budget number for inventory. Target matl can buy below bid (or small stuff can sell double bubble) / pays for Opex. The bids not going up and many of them won’t pay the money (retail) so little incentive increase inventory.
    2. I do buy books like red book, blue book (estate offers), and Krause North America Coins / Prices and Currency books.
    3. Pay Show table fees - 4 or 5 a year. A tough fixed cost to recover. Most coming in door broke / low payers. Nothing to sell worth buying or want too much.
    4. Pay eBay selling expense.
    5. Opex expenses of coin biz. - sch c
    Investor
  • BryceM
    BryceM Posts: 11,940 ✭✭✭✭✭
    edited September 28, 2019 5:58PM
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    First, any of us that have enough money to spend on hobbies are truly blessed. I love having really neat coins, but the opportunity cost of owning them has changed my hobby outlay recently. I sold one not too long ago and I congratulated myself for making out rather well. Then I did the math. In reality, I owned it for about 5 years and it gave me a 3% ROI. A boring, intangible indexed mutual fund in my portfolio did a little over 10% for that same period.

    I derived satisfaction from owning the coin during that time, but at some point the math starts to limit the enjoyment. To put it in real numbers, a $1000 coin appreciating at 3% "earns" $159 in that time. The mutual fund would have earned $610. Sadly, most of my coins have actually depreciated during the last 5 years...... which makes the comparison even more ugly. The engineer and math-nerd part of me can't get past some of it.

    So, while I'm not about to do anything drastic, I think I'll work on my 7070 and Walker albums for a while. :)

  • BrettPCGS
    BrettPCGS Posts: 159 ✭✭✭✭✭
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    Including therapy costs?

    Brett Charville --- I work at PCGS

  • Smudge
    Smudge Posts: 10,001 ✭✭✭✭✭
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    @BrettPCGS said:
    Including therapy costs?

    To some coin collecting is therapy.

  • Namvet69
    Namvet69 Posts: 9,423 ✭✭✭✭✭
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    I'm trying to exercise some self control here! Don't make me think about yesterday. Peace Roy

    BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW

  • BLUEJAYWAY
    BLUEJAYWAY Posts: 11,795 ✭✭✭✭✭
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    Since joining this site 5 years ago my purchases have decreased.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • Gluggo
    Gluggo Posts: 3,566 ✭✭✭✭✭
    edited September 28, 2019 6:53PM
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    10% of my Gross Income. :(

  • mannie gray
    mannie gray Posts: 7,259 ✭✭✭✭✭
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    Couple hundred bucks a year.

  • Dave99B
    Dave99B Posts: 8,947 ✭✭✭✭✭
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    My guess is about $125-150.

    Dave

    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.

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