Others have talked about the source of funds, I have little to add there. But I do think it's important to go in with at least a little awareness of the amount/percentage of funds you're likely to allocate to the hobby, and to have a sense of where that money might have gone otherwise. I was more than a little surprised at myself to have found that in a few short years I had sunk first $5k, then $10k, then $15k, now $20k into a collection, that, while largely themed, far from represents anything like a complete set by denomination, mint, or era, or however one might define completion.
It stands to reason that one should try to start small, and have a long hard think before one sets out on a specific collecting theme. I also think there's value in having a completable goal rather than a vague or broad aspiration. Once you have that in place, the source of funds will probably take care of itself, one way or the other.
I just had the good fortune of selling my Lionel trains inherited from my father. He purchased them in 1949 and stored them until his death. All were first issue post-war.
I now have a coin "War Chest" to use at my discretion.
Purhase perceived value coins based on market conditions or knowledge. Sell less desirable previous purchases based on same knowledge to cover if over-extened. Hope they bring more than the original investment.
It is not that life is short, but that you are dead for so very long.
I've almost finished a complete date/mm set of mint state Buffalo nickels from saved lunch money and coin sales. I'm on year 11 but I'm very happy with my progress.
Well for me every paycheck I keep the change for example if my check is (10,047.62) I'll keep 47.62 that goes into the safe. 2nd I also metal detect and last year found some gold and silver that I just recently sent off to the refiners , usually though every hunt produces small amounts of coinage. 3rd I also recycle cans and plastic bottles, scrap metal. 4th sell on eBay . 5th my wife works at the bank and brings me all my 90% silver @ face value if I can ever figure out how to post pics I'll start putting up pictures. All in all this is a great hobby and I am very grateful to be here , thanks.
The Mrs. is a Pro and she works hard for the semi-keys and double-time for the keys!
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Comments
It stands to reason that one should try to start small, and have a long hard think before one sets out on a specific collecting theme. I also think there's value in having a completable goal rather than a vague or broad aspiration. Once you have that in place, the source of funds will probably take care of itself, one way or the other.
siliconvalleycoins.com
I now have a coin "War Chest" to use at my discretion.
I tell my wife that I like something...and if she doesn't beat me too badly, I tentatively reach for the checkbook!
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
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BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES