Coins and discretionary income. I want drama!
veryfine
Posts: 1,763 ✭✭✭
You always hear that tired old line, "only use discretionary income for coin purchases." Yeah, of course that's the "wise" thing to do, but this forum needs a nice injection of real collecting passion. There are too many logical, extremely prudent coin collectors out there, yet they often have matching dull personalities. I want to hear from collectors like myself who couldn't afford to go on that special vacation because they spent their money on a stupid coin! I want to hear from collectors who make real sacrifices to get that special coin. In short, I want to hear from dedicated collectors who close their eyes and jump into coins, whether they sink, swim or just stay afloat.
You are a witless bore if you respond as follows:
1. My family comes first, and everything else in life is meaningless.
2. Coins are just objects. It's my dog that gives me real pleasure.
3. It's just a piece of metal that can always be replaced.
4. I cracked out my MS 62 Franklin half and it came back MS 61. I lost $5 and feel cheated.
5. Buy the coin, not the holder, read the book before buying, find a dealer you can trust, blah blah blah.
6. We've all made mistakes, but it's a learning experience.
Come on! Collectors are often impulsive, big risk takers who sometimes act spontaneously (and foolishly.) I want to hear from collectors with a pulse or I'm going to fall asleep in here again.
You are a witless bore if you respond as follows:
1. My family comes first, and everything else in life is meaningless.
2. Coins are just objects. It's my dog that gives me real pleasure.
3. It's just a piece of metal that can always be replaced.
4. I cracked out my MS 62 Franklin half and it came back MS 61. I lost $5 and feel cheated.
5. Buy the coin, not the holder, read the book before buying, find a dealer you can trust, blah blah blah.
6. We've all made mistakes, but it's a learning experience.
Come on! Collectors are often impulsive, big risk takers who sometimes act spontaneously (and foolishly.) I want to hear from collectors with a pulse or I'm going to fall asleep in here again.
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Comments
Your my kind of collector. Get down.
I walk on the edge buying coins. I want the coin making money or not. Yeah!
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I know you won't like this answer because I'm not going into any details, but I have been known to act spontaneously and foolishly...and I have definitely pushed the envelope of rational purchases. Just check out my collection in my sig line. But I'm having a blast! It's the thrill of the hunt and the feeling of accomplishment you get when you acquire a coin of your dreams.
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I know you won't like this answer because I'm not going into any details, but I have been known to act spontaneously and foolishly...and I have definitely pushed the envelope of rational purchases. Just check out my collection in my sig line. But I'm having a blast! It's the thrill of the hunt and the feeling of accomplishment you get when you acquire a coin of your dreams.
I agree......you make me sick!!
To beautiful and yes I am jealous.
Stefanie
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC
ErrorsOnCoins
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<< <i>
I know you won't like this answer because I'm not going into any details, but I have been known to act spontaneously and foolishly...and I have definitely pushed the envelope of rational purchases. Just check out my collection in my sig line. But I'm having a blast! It's the thrill of the hunt and the feeling of accomplishment you get when you acquire a coin of your dreams.
I agree......you make me sick!!
To beautiful and yes I am jealous.
Stefanie >>
Thanks.
Hoard the keys.
I was interested in coins 15+ years ago and totally fell out of it. Then March of this year it hit me like a mack truck. It was when I found a bag of coins my Dad left me some years back. I went through his coins with great interest. There wasn't anything very special in there (he was disabled and had to buy on a very limited social security income), but it was enough to reignite the pilot light.
I wanted to start working on an entry-level set so I picked modern Lincolns. This was back in March and now I just need 9 to finish the 102 piece set. The set grade is currently 67.85 so it's not like I'm buying cheapies, either. Forget limiting it to discretionary income. If one I needed popped up on ebay/teletrade, I had to get it. I'll figure out how to pay the bills later! That coupled with a couple bad Vegas trips really put me in a bind.
My mortgage is late now for the first time and my bank account cushion is gone, but hey, I've almost finished a set! Though I'm sure most of this board would dismiss it as 'modern crap'.
At least I realize I have a problem, right? Isn't that the first step or something. I've only made one purchase in the last two weeks. I'd like to believe its because I'm getting better. But I know it's really because the 9 I need haven't appeared on any of the auction sites yet. You wanted drama, there's some drama!
And if you've got one of the 9 I need PM me! Kidding... (or am I...?) I was tempted to post the 9 here but it'll probably get this moved to bst so I shall refrain.
"The computer can't tell you the emotional story. It can give you the exact mathematical design, but what's missing is the eyebrows." - Frank Zappa
<< <i>My mortgage is late now for the first time and my bank account cushion is gone, but hey, I've almost finished a set! >>
Congratulations, you can admire your coins while staying at the homeless shelter after someone picks up your REO house for fifty cents on the dollar.
But seriously, I'm in the market for some nice Lincolns should you decide you'd rather stay housed....
(But nothing too pricey, as I'm looking to buy a house myself in the next few months....)
60 years into this hobby and I'm still working on my Lincoln set!
Hey, he asked for drama and I ponied some up! Sometimes I just can't help the irrational exuberance that washes over me when window shopping.
Hopefully some young numismatists can learn from my mistakes. Don't be like uncle Mark, pay your bills first!
For what its worth, I've called the mortgage company and worked out an arrangement with them. Me and Abe shouldn't be out on the streets anytime soon....
"The computer can't tell you the emotional story. It can give you the exact mathematical design, but what's missing is the eyebrows." - Frank Zappa
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
1) First my bills get paid
2) Then if the house needs something, that gets done (old houses always need something)
3) Money gets set aside for my vacation
4) Money gets set aside for a pension plan contribution
5) Whatever is left may be used for coins, though I've only found one coin in the last year. If the coin doesn't have my name on it, I don't buy it. I've walked away from many shows / auctions with plenty of money to spend, because I found nothing that interested me.
If you want to talk about risk, I can tell you about some of the races I've done over the years.
"Seu cabra da peste,
"Sou Mangueira......."
Bringing Ms. Anne is Willing into my numismatic harem got me in deep doodoo for months. Needless to say, my wife was quite the jealous one whence Anne arrived, an' my Mrs. figured out how much Anne set me back monetarily. I had to agree to sell her in time, but time passed and our fortunes have changed for the benevolent and Anne resides comfortably in my harem thusly still.
It was about 6 months later..... I thought it would be nice to pick up a few more denominations of the US Civil War Era coins to add to what she bought me for Christmas. Well, within about a year, I was totally out of control and about $30,000 in debt. I not only purchased the Civil War Era coins, but got into a US Type collection, US Gold coins, US Large size notes, National Currency notes, Fractional Currency notes, Confederate notes, and silver Crowns and Half Crowns of the English Kings and Queens from Henry VIII to Elizabeth I. This debt from the coins and currency put a damper on our lifestyle and our relationship!. We eventually split up and ironically, I had to sell off most of the collections in order to pay for our breakup!
So, have I learned from any of this? A little but not much because....I just recently got the "bug" back and purchased several silver and gold coins in order to complete that Civil War Era collection!!!!!!
Brothers, in my case, it's Mrs curly who can go coin crazy. Last year, I bid a limit of $42,500 on a coin yet Mrs curly wanted me to stretch to $50,000! She says as long as the rent's paid thru next week and there are biscuits and beans in the cupboard don't worry about it. Lord, I do love that old woman.
<< <i>Finally, some real human beings who let their emotions drive them in all sorts of irrational directions. "I'm obsessed and gotta get that damned coin at all costs" mentality is so refreshing to see." At least I'm not alone now.
DITTO
Just wish more Coin Dealers offered a 90 day lay-a-way..
<< <i>Sorry, it's far too easy for a collector to stick his / her neck out and get screwed taking the kind of risks you talk about buying coins.
1) First my bills get paid
2) Then if the house needs something, that gets done (old houses always need something)
3) Money gets set aside for my vacation
4) Money gets set aside for a pension plan contribution
5) Whatever is left may be used for coins, though I've only found one coin in the last year. If the coin doesn't have my name on it, I don't buy it. I've walked away from many shows / auctions with plenty of money to spend, because I found nothing that interested me.
If you want to talk about risk, I can tell you about some of the races I've done over the years. >>
Elcontador,
You are way too rational and measured for this thread. Maybe I'll see you at the next financial planner party where a beautiful CPA jumps out of a cake.
May I suggest you do what I do; go out for 3 or 4 Margaritas made from a very high quality Tequila, go home, reflect on the meaninglessness of life, get depressed, open your wallet, close your eyes and buy an expensive coin.
Trust me, it's a real antidepressant