Should I Sell My Collection?

First off, great post. I think you'll get plenty of good advice here.
It's very thoughtful of you to consider what you can do to help dig
yourself out of a hole. I have mixed feelings on this, mainly because
I have been where you are. I started collecting at about 10, and a
few times during my life I have had to liquidate the better part of
my collection, then start all over later when times got better and I
could afford to start over.

First, while it is a struggle, as you are aware, you could just sit
on what you have, not add to it, and just slowly go on with life,
digging out of your hole however you can. Believe it or not, you
WILL dig out, even without selling your coins, and you WILL be able
to pick back up on your hobby in a few years. I have been there,
and while you might not see the light at the end of the tunnel right
now, it's going to come eventually. So option 1 is just pack it away,
and forget about coins, sit on what you got. Come back when you can.

Option 2, and what I have done in hard times, is to divide your collection
into 2 parts. One part is made up of the coins that you just can't see
yourself parting with. Not because of monetary value, but rather just
coins that you love, or hold sentimental value. Then the others you sell
off... Hopefully the more valuable money wise will be the 2nd group. Now
take the first group and store it away, forget you have it, and then come
back to it when times are good again. I have done this 4 or 5 times through
my life. I'm 45, so this has been how I have operated for 35 years. Many
times it seemed there was no hope of getting back into the hobby, but it
always comes back around. The goal is to keep from up and down cycles like
this, of course, but it happens, it's life.

Then there is the 3rd option, of total liquidation. This would hurt the most,
but it still is not a lifetime ban on ever collecting coins again! Even if
you went this route, someone who started collecting at 10 is NOT going to
give up the hobby. Things will get better, and you'll be back, even if you
tell yourself differently right now. Been there, done that.

Now it's up to you.
Good luck.
Keeping you in my prayers.

at least here in Canada, any trade - especially construction related - has great opportunities. while ahead of a high school diploma you can get your red seal certificate for the price of a new car.

DR and lawyers cant be outsourced, but they are being IN-sourced. trained pro's are coming from other countries and undercutting the current wage structure.

Move to ...........

can you leave the country?
immigrate to Australia, if your a doctor they will welcome you with open arms

Fantastic amount of dept. Not sure about those adds on TV about how to lower such depts but sure have been a lot of them. And your interest rates are really excessive. You just have to look into more possibilities. And as already noted you may never get the amount you think for your coin collection and what you do get would hardly dent what you owe.
Keep the coins for as long as possible. Concentrate on trying to find one of those so called we can get you out of dept things they ad on TV. As the old saying goes, Any port in a storm. Try anything possible first.

To answer your question, no I'd never sell my collection. In your situation, you can either have a ton of debt - or have a coin collection and a ton of debt.

That is an enormous amount of student debt; I had no idea that lenders would lend that much money. I went to one of the most prestigious private liberal arts colleges and finished my masters from the top school in the nation for the subject. I'm 32 and my total cost for my 7 years of college was $166,000. So how you managed three times that amount - in debt alone - really amazes me. I couldn't imagine a PhD program costing another $300,000 - especially when a vast majority of PhD students are funded (at least in my department at Oregon State University). In fact, the professors wont even accept you unless you have funding. My undergraduate debt was about $25,000, which I paid off a couple years ago. And I paid my way through the masters program, so I only owe $2000 on it right now. Were you using the student loan money for things other than tuition? I'm just blown away by $400,000 student debt.

Many are amazed at the size of the debt. For me, my interest is trying to get a handle around how to amass a coin collection worth $20,000 by age 27 while being a student for most of that time and borrowing more money each year in school.

I am more than double the age of the original poster. I guess like the saying goes, times are different so I tried to put it into perspective when I was 27 in 1980. $20,000 now was like $7300 where I lived in Western Canada back then when factoring in inflation. I had completed four years of post-secondary, was not at the time working in my field of education, my wife home with two young children and was trying to save for a down payment on a house. Mortgage rates were above 12%. I did collect coins as a teenager but by 27 was collecting mainly from finds in change as I wanted so much to not have to rent and get that down payment. It was not until later in life that I was able to start putting spare money into my hobby and is not even close to $20,000 nor $7000.

I am not saying the OP was wrong to put the money into coin collecting. We all have our priorities and passions. I am just wondering how he was able to do it.

As far as advice, I'd say sell most of the collection. Your interest is 7.5% and there is no way you will average 7.5% per year increase in value over the next 15 years year after year with that coin collection sitting around. But keep a few sentimental pieces or items that were bargains you will never be able to replace at a similar price later.

Wishing you the best no matter what you decide.

Dreamer,are you employed as a physician now? If so, can you moonlight? This is what my husband does for extra money. We paid for 10 years on his medical school debt but finally got it done. Keep the faith.