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 Replies: 47 / Views: 6,392 |
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Pillar of the Community
United States
4085 Posts |
Rule #1 - whenever I get a new coin, my wife asks "can I touch it" and I say "no"
Rule #2 - wife knows to look for 1982-earlier Lincolns or let's me look through change she gets
Rule #3 - I pay my kids 2c each for copper memorials and 5c each for wheats
Rule #4 - if I search through the SPCA donation jar, I also pay according to Rule 3 (my wife throws extra change in there sometimes - usually found money from the washer or couch cushions for example)
Rule #5 - I have a budget of $50 / month plus any cash gifts I receive
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Pillar of the Community
 United States
5828 Posts |
only one rule... "Don't bid/buy on ebay without my permission!" -mom |
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Pillar of the Community
United States
6370 Posts |
My family generally assumes that I know what I am doing in my coin endeavors, as long as I don't ask for money.
I've bought about $5000 in coins in the last calendar year, and I have made about $6000 from selling the coins I don't need/want. That is after keeping $2000+ in coins for my own collection. That is called collecting on a college budget.
Edited by TypeCoin971793
05/27/2016 11:23 pm
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Bedrock of the Community
United States
12057 Posts |
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. 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 |
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Valued Member
United States
441 Posts |
Quote:
Andrew99:
Don't tell me how much money you spend on coins. Nice!! |
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Pillar of the Community
1153 Posts |
I generally don't have a budget on my collectibles however whatever I spend she gets to also spend so unless I watch my purchases we could go broke quickly.
Also nobody in my house talks to anyone outside my house about my collectibles.
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Valued Member
United States
403 Posts |
Nobody gets to wear an optivisor or triplet around the neck when we have guests in the house.
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Pillar of the Community
United States
2543 Posts |
Easy ..... she doesn't ask me how much I spent on that coin ...... I don't ask how much she spent on those new boots.  |
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Bedrock of the Community
Australia
21788 Posts |
I sold my first collection of an Australian gold type set, along with about 100 ancient coins, which included four Roman gold coins. That was way back in 1976. The proceeds of the public auction paid for 15% of the total value of our first house, which we moved into, straight after our marriage. My wife, thankful for a roof over over our heads, and which belonged to us, never bothered about whatever I spent on coins, throughougt our marriage. Our house was owned in joint names. All of my superannuation was invested in her name, so no tax to pay. She used to joke: Oooh, - I am a rich pooch !She died four years ago.  ' ' ' ' ' ' Now, the hounds have been released, I don't care about whatever I spend on coins. Mostly, I buy at public auction. Because I have always bought well and heavily researched all of my purchases, I have done quite well in 'paper' gains. Always looked for bargains across the whole of numisamtics. Very good library to support the collection. I guess that our kids will 'clean up' when they auction my collection at public auction. Nevertheless, they have expressed strong intention that they may keep most of them. They are joint executors and only beneficiaries of my Will. |
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Pillar of the Community
United States
6370 Posts |
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Pillar of the Community
United States
7637 Posts |
No consumption of alcoholic beverages when making coin purchases or when bidding on anything on ebay. Alcohol infused decisions can have a very bad outcome. |
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Valued Member
 United States
59 Posts |
This tread is amazing! HAHA I need to be careful not to let my husband see some of these :) *laughter* thank you everyone for sharing!
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Pillar of the Community
United States
992 Posts |
She gets to complain about my coin and banknote collection when I get to complain about her shoe and handbag collection.
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Pillar of the Community
United States
1191 Posts |
As long as I keep all my coins and whatnot in my room, my mom and I are ok about my hobby. Although when she walks into my room, she regrets making that rule and instead wants everything in the closet...
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Moderator
 United States
189767 Posts |
Quote:
I've bought about $5000 in coins in the last calendar year, and I have made about $6000 from selling the coins I don't need/want. That is after keeping $2000+ in coins for my own collection. That is called collecting on a college budget. Well done.  |
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Replies: 47 / Views: 6,392 |
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Posted 05/27/2016 09:51 am
