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How many hours did you have to work...
coinmanic
Posts: 572
for your most valuable coin.
I figure 700 after tax hours for my most expensive coin.
and of course, anyone who prefers not to answer this is excused.
Edited for clarity.
I figure 700 after tax hours for my most expensive coin.
and of course, anyone who prefers not to answer this is excused.
Edited for clarity.
SOCIALIZED MEDICINE: The wealthiest class treats the lowest class and sends the bill to the middle class.
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The name is LEE!
And it wasn't worth it.
Thats after taxes of cousre.
Lance.
60 years into this hobby and I'm still working on my Lincoln set!
Dang, I need to find a cheaper hobby or at least cheaper coins.
Mike
The general guideline for a rare coins is: Spend about four years of your wages.
<< <i>I had never thought of it in those terms. My most expensive coin cost me 340 hours of work for the purchase.
Dang, I need to find a cheaper hobby or at least cheaper coins.
Mike >>
Or just find a better paying job then working at the
All extimates using after tax wage rates (extimated to be about 60% of gross wages).
<< <i>Just as the general guideline for an engagement ring is: Spend about two months of your wages... The general guideline for a rare coins is: Spend about four years of your wages. >>
On my engagement ring I spent about 2 months salary (before taxes). However, I would have never done that if I hadn't had several years salary doing well in the stock market...of course that evaporated and so did the ring. --Jerry
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Jim
Currency - 1928-1929-1934 Series Stars All Denom. - 126 of ~846
Lincoln Cent Varieties
Baseball cards: Kirby Puckett
<< <i>I had never thought of it in those terms. My most expensive coin cost me 340 hours of work for the purchase.
Dang, I need to find a cheaper hobby or at least cheaper coins.
Mike >>
Well, I'm sure that '35 pcgs washington warranted some excessive hours.
On the other hand it's not as bad as I thought, 320 hours for me or 40 workdays. I need to get a better paying job so I can decrease the number of days.
<< <i>About 1.2 seconds... It took me longer to attribute and holder the coin >>
A True Collector, That one took knowledge not deep pockets. That's the only way I collect.
Stew
<< <i>
<< <i>About 1.2 seconds... It took me longer to attribute and holder the coin >>
A True Collector, That one took knowledge not deep pockets. That's the only way I collect.
Stew >>
What if you collect items that no matter how much knowledge you have you can't get unless you spend a decent amount of money?
Even within high dollar series there are opportunity to recognize something special. With greater knowledge and study of your series
whether a inexpensive piece in your series is $1.00 or $1,000.00
With out going too deep my thinking was that it is all relative
If a person has 100 dollars $10 is not a lot. if a person has 100 million 10 million is like the 10 bucks is to the other person.
Stew
<< <i>
<< <i>I had never thought of it in those terms. My most expensive coin cost me 340 hours of work for the purchase.
Dang, I need to find a cheaper hobby or at least cheaper coins.
Mike >>
Well, I'm sure that '35 pcgs washington warranted some excessive hours.
Not really. Just a 48 hour work week and the Washie was mine.
Mike
<< <i>
<< <i>About 1.2 seconds... It took me longer to attribute and holder the coin >>
A True Collector, That one took knowledge not deep pockets. That's the only way I collect.
Stew >>
Trust me, if I find any 18th century US coinage in circulation I'll be sure to grab it.
--Jerry
Maine_Jim
about 140 hours in todays income, second would be maybe 40 hours, most of them though in the 5 to 10 hour range.
(wasn't working at the time 90% of my collection was formed, though (sabbatical 2000-2003 between stints of working for the Man)
Liberty: Parent of Science & Industry
<< <i>About 60 hours, pre-tax. >>
Tetradrachm, welcome to the forum.
Link to earlier thread.
siliconvalleycoins.com
<< <i>I was reading something the other day that stated the majority of employees in america make 8.00 dollars per hour. I picked my favorite coin and based the average american wage against the price it once sold for. The average american making 8.00 per hour would have to work 1875 hours with no taxes to afford the coin or 46.875 forty hour work weeks. Kind of puts things in perspective- our hobby is out of control
Ouch, using this pretax mine would be 862 hours or 172 work weeks.
Guess it's time to take a break form collecting and pay off those bills.
<< <i>I was reading something the other day that stated the majority of employees in america make 8.00 dollars per hour. I picked my favorite coin and based the average american wage against the price it once sold for. The average american making 8.00 per hour would have to work 1875 hours with no taxes to afford the coin or 46.875 forty hour work weeks. Kind of puts things in perspective- our hobby is out of control
There are plenty of folks earning close to minimum wage. I believe the average per hour wage is about $12-13.
I had a friend here in Tucson that was a cashier at WalMart, making about $9 an hour. With his employers blessing, he would buy interesting coins from his tray. He put a nice little collection together on the cheap. He really scored when the Wisconsin error quarters hit Tucson in 2004.