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Posted 05/28/2016 12:00 am
A few of my general rules.
1. It's better to save until you can buy the best coin you're going to get, than to spend now and settle for less coin than what you wanted.
2. Any return on investment from a coin purchase is a gift from the gods and should not be taken for granted. Expect to lose money on every coin you buy, and you'll never be disappointed, but occasionally be very pleasantly surprised. The best collections, with the highest eventual return, are the ones built over decades, with careful selection, not the ones built overnight, with impulsive spending.
3. It's okay to mention your hobby to people who might be interested, but never tell them exactly what's in your collection, and especially not what it's worth.
4. No one ever got in trouble for having too much insurance for their collection.
5. If you don't like it when you first see it, don't buy it, because you won't like it any more in the future.
6. A coin in hand is worth 50 on ebay. Never trust a photo you didn't take yourself, and never bid on any coin you can't afford to be disappointed with.
7. Time spent learning how to grade and value coins correctly is never wasted.
8. Stick to your budget. Whether you can afford $5 a month or $5000 a month to spend on coins, know your limits, and don't do stupid stuff like put coin purchases on credit cards. It can wait.
1. It's better to save until you can buy the best coin you're going to get, than to spend now and settle for less coin than what you wanted.
2. Any return on investment from a coin purchase is a gift from the gods and should not be taken for granted. Expect to lose money on every coin you buy, and you'll never be disappointed, but occasionally be very pleasantly surprised. The best collections, with the highest eventual return, are the ones built over decades, with careful selection, not the ones built overnight, with impulsive spending.
3. It's okay to mention your hobby to people who might be interested, but never tell them exactly what's in your collection, and especially not what it's worth.
4. No one ever got in trouble for having too much insurance for their collection.
5. If you don't like it when you first see it, don't buy it, because you won't like it any more in the future.
6. A coin in hand is worth 50 on ebay. Never trust a photo you didn't take yourself, and never bid on any coin you can't afford to be disappointed with.
7. Time spent learning how to grade and value coins correctly is never wasted.
8. Stick to your budget. Whether you can afford $5 a month or $5000 a month to spend on coins, know your limits, and don't do stupid stuff like put coin purchases on credit cards. It can wait.
Member ANA - EAC - TNA - SSDC - CCT #890
"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis
"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis
