<< <i>IMHO, anybody that has a coin collection can prudently take on debt to buy a coin, provided that he is willing to sell something less desirable from his collection to repay the debt. >>
Be willing to sell something is one thing - actually being able to do so, for the price that you want, in the time frame required, is quite another.
When you buy an expensive coin with a credit card and pay it off in two or three billing cycles, is this "going into debt"? I don't think this is a big deal if it's a special hard to find coin and you have the steady income to pay it off.
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
I cannot say that I wouldn't take one out but being a collector of somewhat limited means and having a collection mainly composed of widgets I have not had a need too. Even the more expensive widgets I have saved up for and been able to pay the CC off that month if it was charged.
BTW that medal is absolutely beautiful! I can see the need to take advantage of the opportunity when it came into the market.
It took a year to pay off a Cheerios Sacagawea dollar in the original package which I put on a credit card @ 9% based on a $4K purchase in 2004. One may not find this sort of opportunity exists often, so an exception to the rule applied.
No, I can't think of any coin worth going into debt over. I could see buying one on a layaway plan, cash flow permitting-- like a very early 5 0r 10$ gold piece.
If you have a lot of income or can sell off dups to pay it back in a month or so it is not a big deal but if you are going on a 36 month payment plan then no way.
I seldom check PM's but do check emails often jason@seated.org
Buying top quality Seated Dimes in Gem BU and Proof.
There is no coin that would prompt me to go into debt to buy it.
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 ... ?
Comments
<< <i>IMHO, anybody that has a coin collection can prudently take on debt to buy a coin, provided that he is willing to sell something less desirable from his collection to repay the debt. >>
Be willing to sell something is one thing - actually being able to do so, for the price that you want, in the time frame required, is quite another.
Agressively priced coins that I would get a loan so I could own them? None.
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
BTW that medal is absolutely beautiful! I can see the need to take advantage of the opportunity when it came into the market.
K
Just food for thought.
``https://ebay.us/m/KxolR5
If you have a lot of income or can sell off dups to pay it back in a month or so it is not a big deal but if you are going on a 36 month payment plan then no way.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
It's hard to go broke without any debt. A wise senior colleague once told me this. I believe him.
PCGS PR66RD
Empty Nest Collection
If I can't sell something else (less desirable coin, for example) to offset the cost of a new coin, I don't buy it.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne