When is buying enough?
Ppp
Posts: 554 ✭✭✭✭✭
stuff has been coming out of the woodwork for a while now and overall I have been buying more than I have been selling/trading.
I believe a certain percentage (number is different for everyone) of ones net worth should be in precious metals and numismatics. I view this expenditure similar to a retirement account and a speculative stock where you are using money that you don't need and this is just a form of long term asset diversification.
I find in this environment a strange thing is happening. I am getting tired of buying, I can’t believe I just wrote that.
Here is the most recent example: I was just offered ten raw 1/10th oz AGEs at $390 each (melt about $380-) and ten raw $2.5 Indians (yes, they are real) for $460-ea (melt about $460). Earlier this year a deal like this I would have jumped on without thinking, but now I find myself hesitant to pull the trigger. It’s a mental not a financial thing and my holdings as a percentage of my NW is fine.
I never experience anything like this before. Has anyone else gone through similar experiences?
If yes, how did you reconcile the situation and what did you do?
Comments
I don’t view buying coins as an investment. Sure, at the end of the day when I sell everything I’d like to break even or make a few dollars. The above described deals are nothing more than bullion plays. If you think gold is going to continue going up or you don’t have any gold in your portfolio go for it. I’m at a stage in my life where I have enough coins and I will only buy something if I really like it and it complements what I’m collecting.
Seems more comes into the shop than what goes out. Have been trying to remedy that since 2009, when I started in “the trade”.
``https://ebay.us/m/KxolR5
For me - When one reaches plan inventory investment level.
Never. I always strive to build my collection! This is not to say that I'm not content with my collection as it is, I just enjoy adding new items.
Proud follower of Christ!
Never. I always strive to build my collection! This is not to say that I'm not content with my collection as it is, I just enjoy adding new items.
+1.
I'm still breathing so I'm still adding. Gives me something to look forward to when I get up each morning.
Member ANA, SPMC, SCNA, FUN, CONECA
Thank you for the feedback.
I ended up I committing to getting the 20 coins.
I really like what 2ndCharter wrote. We all have health issues and his response bought a little perspective to me. Thank you
I don’t need many coins to complete my type set, but they’re all expensive five-figure+ coins. Unfortunately the investment\economic environment has slowed me down a bit, made me conservative. My age is a factor as well.
I look at it like this, its not a race. There's plenty of time to build a set of 20 for me I hope. Its well underway.
When my box of 20 is done I am going to focus on upgrades and switching types around that I would prefer.
I have all my Morgen's unless something cool pops up.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7
The last few Type coins I need are pretty pricey... but I can wait for the right coins to emerge.
There are also the last three Large Cents I'd need for a complete date run, but I knew going in that I'd never complete it....
Edited to add... but for the next 4 to 5 years, while I'm still working , and getting contract work... I'll continue to "accumulate". Once I'm retired and on a fixed income... then, I'll pare back on acquisitions and probably start the "long sell off"...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
When your wife finds out!
If you’re a dealer, it’s about running a profitable business.
If you’re a collector, then it’s about your wealth, your interests and your personality.
In my case, personality wins out. I’m a minimalist, and a 2x20 strategy works well for me. Anything more is clutter.
When investment equals plan portfolio goal.
Stack them deep 😦 if the funds allow.