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 Replies: 86 / Views: 9,832 |
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Pillar of the Community
United States
2205 Posts |
You know, unless someone is already rich, I can't think of any more-or-less common coins that could serve as true investment vehicles. The only coins that really increase in value already costs many thousands of dollars.
It seems to me that the only people who make real money off of coins already have a ton of dough, and they make their profit by selling very expensive coins for slightly more--a few thousand bucks, say--than they paid for them.
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Pillar of the Community
United States
7375 Posts |
Quote:
"Well, you didn't really say that.."
But I did. from my OP: "Lastly, he has little income to be spending this way and my mother ends up paying in the end."
So apparently your dads's money and mother's money are separate. I was assuming the money was "theirs" especially since she buys him coins also and supports the "coin" thing. Sorry you didn't hear everything you wanted to hear, but as you stated, just take the helpful suggestions and go from there. It's tough to make people do what we want them to do. I've had addictions in the past, and I can tell you from experience that no one was going to change me until I was darn good and ready to change myself. |
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New Member
 United States
26 Posts |
ratio411, your post may help the most. Thanks. I don't know if he is leaving his coins to me or my sister, I frankly don't care as I never expected anything from my parents as we were always poor. I am securing my own future with land purchases, one of which I will be moving to shortly. He doesn't even have a will yet so it will all either go to mom or the state anyway. Just tired of the complicated life he has been making for mother as a result of his coin buying but it goes deeper than I am willing to discuss here.
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Pillar of the Community
United States
509 Posts |
What's better then 10 shares that you paid $5000 for and are worth $3000? 10000 shares that you paid $5000 for that are still with 3000...... More coins to look at for same price
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New Member
United States
26 Posts |
Quote:
"So apparently your dads's money and mother's money are separate. I was assuming the money was "theirs" especially since she buys him coins also and supports the "coin" thing." All I can say is it is complicated, I am not willing to go into all the financial details but, believe me, he is not in the financial position to be buying the crap he has been buying. I just want him to realize he is spending upwards of 500x too much and there are other alternatives out there. |
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Pillar of the Community
United States
1215 Posts |
Tobit, why don't you post some of your father's coins?
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Bedrock of the Community
Australia
21788 Posts |
Tobit:
Perhaps you could show him some of the posts from this thread, or
perhaps show him other similar threads that do not include yourself, just to demonstrate that they are all third party opinions.
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New Member
United States
26 Posts |
One of the "collections" my dad just bought, via my Mom, from National Collectors Mint was this set of 25 Morgan silver dollars. A few from every mint the Morgan was minted at. He paid $3600 for the set, basic math tells you that is $144/coin. I highly doubt any coin in the set is worth that much and I am hoping to prove that tomorrow when I take it to be appraised. Mothers name is on the invoice and I have her permission to take it to be appraised so I am going to do it. |
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New Member
United States
26 Posts |
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"Tobit, why don't you post some of your father's coins?" I will. Mother wants me to inventory and photograph all of them soon for insurance purposes at the very least. |
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Pillar of the Community
United States
1208 Posts |
Quote:
He's not using his money This is even worse than what my dad was doing! A least he was squandering money that was his. He just made a big deal about how his collection was going to be worth a fortune when he was gone, and how the huge profits would take care of mom. Sounds like you should let your mom read these posts, and convince her to stop enabling your dad. Good luck I feel your pain. I had to tell relatives, including my dad, to stop buying coins for me as gifts (b-day and xmas), because they were spending small fortunes buying me overpriced junk coins from mail order coin dealers & QVC. It broke my heart, but it felt worse to know I was getting gifts that they were getting scammed on. Edited by ratio411
12/22/2014 10:48 pm
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New Member
United States
26 Posts |
ratio411, he has no problem showing off all his coins to people who stop by. I'm like dude, you live in the hood. Quit showing this crap off. If he was in it for collecting purposes, I'd think he'd take better care of them as well but they are all over the house. Drives me crazy.
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Pillar of the Community
United States
1208 Posts |
Oh man, that's a BIG no-no! People get killed showing off valuables!
I hate to even mention this option, but it could be an option, you know
better than I... Talk with an attorney, and see if this behavior could
get your father committed for his own protection, or if a 'sane' family
member could get custody of him for his own good.
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Pillar of the Community
United States
3843 Posts |
@Cruisinfusion, Kenneth Pines, owner of coast to coast coins, was expelled from the ANA in 2003 and generally has a less than stellar reputation in the numismatic community from what I've heard. |
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Pillar of the Community
United States
1208 Posts |
Joe2007:
I was thinking similar things about those names posted.
You refreshed my memory... Thank you.
I don't shop with any of those.
To keep from getting taken via mail order, you really MUST
know your coins and the hobby. None of this is really for
the untrained. At least not on a "high dollar" scale.
Edited by ratio411
12/22/2014 11:11 pm
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New Member
United States
26 Posts |
The shop I am going to tomorrow has been in business for over 40 years and an ANA and NAWCC member. I am not going to take my dad's entire collection, just what was recently purchased under my mothers name to ensure there will be no legal issues if he whines. My sister will also accompany me to, hopefully, assure him we are only looking out for him. She is pretty much on the same page as I but has not had the time to do any of the research I have done. |
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Replies: 86 / Views: 9,832 |
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Posted 12/22/2014 10:24 pm
