For those who think we are BIG collectors-- we are not. 99% of what "regular" collectors buy can be replaced or found within a reasonable amount of time. For the 1% of collectors (as MrEureka and Eagle Eye described), I agree that coins should be sought after at all costs.
My point has nothing to do with the size of one's wallet.
Again, if a coin on your primary want list is extremely difficult to find, it doesn't make sense to try to "market time" the purchase.
On the other hand, if you're just buying random rarities that turn you on, market timing makes perfect sense. If you don't get random rarity A today, you can buy random rarity B tomorrow.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
My collections of US coins are complete to the extent I want them to be. I might buy an upgrade or cherry a rare variety, but I do not plan on purchasing more expensive coins. I have been chasing local centennial medals, a lot of fun and my last purchase was $3 for a medal that I have not seen in 20 years of collecting them. The fire in the market of the last few years is definately cooling down.
Robert Scot: Engraving Liberty - biography of US Mint's first chief engraver
Yep. No new purchases until I get a handle on the economy.
However, I'm selling off all the US mint crap I've accumulated over the years: Jefferson nickels about 300 boxes, and too much other stuff to mention. Takes up too much room.
When that chore is over, my addicition to coins has changed TO AU from MS. Go figure. And crust versions as well. No more shineys in my collection, except copper.
My job just got deleted when a Danish private equity firm bought our company. I need to figure out if I am retired or inbetween jobs. In the meantime, I have been selling some spares in my core collection. Also, will be selling some prewar proof cameo Lincolns and proof seated dimes. For now, trying to focus on the 1950-1964 proofs.
Badger
Collector of Modern Silver Proofs 1950-1964 -- PCGS Registry as Elite Cameo
Yes, but mostly because I'm saving up for a down payment for a house (or condo). If I find the right coin though, I'd most likely pull out the cash for it.
I can get a loan if I have 6 months worth of income (not just mortgage payments, but half a year's worth of gross income) in cash reserves after the close.
So we're being extremely frugal until we close... cross your fingers for us!
Me at the Springfield coin show: 60 years into this hobby and I'm still working on my Lincoln set!
When coins come up that appear to be undervalued , it's hard to pass them up. I manage to live below my means. However, when Airplanenut did a fly- by recently, I did climb out on a limb to snatch a couple orbs.
DroopyD... good luck with the home purchase. I think it's a great time to buy property, too
I am buying, but I am aware that I need to cool it when it comes to how much I spend.
My type collection has hit a hard place. The only hole that I can afford to fill is the Liberty Seated half dollar with no motto. Amazingly I have been unable to fill this hole with an MS or PR-64 coin that is attractive and original. Even if I step up to MS or PR-65 the pickings are slim, and the prices zoom to almost $5,000.
Once I get this piece, I'm going to need a big infusion of cash because here are the type coins I have left:
1796-7 half dollar 1796 No Stars quarter eagle 1821-7 quarter eagle 1829 - 1834 reduced size half eagle
That is a list of very expensive coins. Maybe some day ...
But so far spending for anything else, I'm limited myself to items that sell for no more than a few hundred dollars in the token and medals area.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Just let a Brenner Lincoln Centennial Medal come up for sale......................
That checkbook will fly out at the speed of light.
But, I've accompolished many of my goals. A few, such as a VDB matte proof, will be in the future (along with a 1954 Kaiser Darrin, but thats another dream path)
I'm not a 'flipper'. What I buy essentially grows roots until it is pried from my cold dead hand.
<< <i>I'm hopefully buying a house in a few weeks.
I can get a loan if I have 6 months worth of income (not just mortgage payments, but half a year's worth of gross income) in cash reserves after the close. >>
Wow, that's just insane. When we bought our first house in '93, I think we had 3k after closing to our names excluding retirement funds.
“When the people find that they can vote themselves money, that will herald the end of the republic.” — Benjamin Franklin
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>I'm hopefully buying a house in a few weeks.
I can get a loan if I have 6 months worth of income (not just mortgage payments, but half a year's worth of gross income) in cash reserves after the close. >>
Wow, that's just insane. When we bought our first house in '93, I think we had 3k after closing to our names excluding retirement funds. >>
Yep...sounds about right. I expect that on the day of the close, the underwriter will call your place of employment, ask to talk to your boss and ask two questions. Are you still employed and are you going to be employed in the next year. The underwriters are being just a tad more careful these days. Every business has cycles!
Comments
My point has nothing to do with the size of one's wallet.
Again, if a coin on your primary want list is extremely difficult to find, it doesn't make sense to try to "market time" the purchase.
On the other hand, if you're just buying random rarities that turn you on, market timing makes perfect sense. If you don't get random rarity A today, you can buy random rarity B tomorrow.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Nope, still not buying anymore than I was not buying before
BUT...
If I find a coin I _need for one of my type sets.... &....
the dealer will offer a lay-away, I'll eat ramen noodles for 3 months to pay for it
However, I'm selling off all the US mint crap I've accumulated over the years: Jefferson nickels about 300 boxes, and too much other stuff to mention. Takes up too much room.
When that chore is over, my addicition to coins has changed TO AU from MS. Go figure. And crust versions as well. No more shineys in my collection, except copper.
Best
Badger
Link to 1950 - 1964 Proof Registry Set
1938 - 1964 Proof Jeffersons w/ Varieties
I still buy collections and generally accumulate as opportunity arises.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I can get a loan if I have 6 months worth of income (not just mortgage payments, but half a year's worth of gross income) in cash reserves after the close.
So we're being extremely frugal until we close... cross your fingers for us!
60 years into this hobby and I'm still working on my Lincoln set!
Fred, Las Vegas, NV
1/2 Cents
U.S. Revenue Stamps
<< <i>Are you curtailing your coin purchases? >>
Yep. Haven't bought a thing in over two months
<< If the right coin comes along at the right price, you need to seize the day.>>
I know! But the way things are, I don't know when I can be back in Carpe Diem mode.
In the meantime, I've got plenty of organizing and cataloging I can do!
DroopyD... good luck with the home purchase. I think it's a great time to buy property, too
``https://ebay.us/m/KxolR5
My type collection has hit a hard place. The only hole that I can afford to fill is the Liberty Seated half dollar with no motto. Amazingly I have been unable to fill this hole with an MS or PR-64 coin that is attractive and original. Even if I step up to MS or PR-65 the pickings are slim, and the prices zoom to almost $5,000.
Once I get this piece, I'm going to need a big infusion of cash because here are the type coins I have left:
1796-7 half dollar
1796 No Stars quarter eagle
1821-7 quarter eagle
1829 - 1834 reduced size half eagle
That is a list of very expensive coins. Maybe some day ...
But so far spending for anything else, I'm limited myself to items that sell for no more than a few hundred dollars in the token and medals area.
That checkbook will fly out at the speed of light.
But, I've accompolished many of my goals. A few, such as a VDB matte proof, will be in the future (along with a 1954 Kaiser Darrin, but thats another dream path)
I'm not a 'flipper'. What I buy essentially grows roots until it is pried from my cold dead hand.
<< <i>I'm hopefully buying a house in a few weeks.
I can get a loan if I have 6 months worth of income (not just mortgage payments, but half a year's worth of gross income) in cash reserves after the close.
>>
Wow, that's just insane. When we bought our first house in '93, I think we had 3k after closing to our names excluding retirement funds.
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>
<< <i>I'm hopefully buying a house in a few weeks.
I can get a loan if I have 6 months worth of income (not just mortgage payments, but half a year's worth of gross income) in cash reserves after the close.
>>
Wow, that's just insane. When we bought our first house in '93, I think we had 3k after closing to our names excluding retirement funds. >>
Yep...sounds about right. I expect that on the day of the close, the underwriter will call your place of employment, ask to talk to your boss and ask two questions. Are you still employed and are you going to be employed in the next year. The underwriters are being just a tad more careful these days. Every business has cycles!