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 Replies: 19 / Views: 2,952 |
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Pillar of the Community
 United States
6514 Posts |
@Rothery
I'm so careful not to let anyone know that I collect coins. I think even if I were in the dating scene that would include girlfriends. Sorry to hear about your loss. That had to have been quite the gut shot.
Three cheers for your neighborhood bank's safe deposit boxes.
Edited by chafemasterj
01/07/2021 3:47 pm
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Pillar of the Community
2145 Posts |
Quote:
If that had happened to me, I'd be typing this to you from jail!! No fret MOS, it was a long time ago and I've been out for quite some times -  Quote:
That had to have been quite the gut shot. Yes, it was J, a big time expensive learning experience. But back then I was able to buy St Gaudens for 5-600$. AND better a gutshot then a gunshot -  Edited by Rothery
01/07/2021 3:55 pm
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Pillar of the Community
1110 Posts |
Quote:No fret MOS, it was a long time ago and I've been out for quite some times  |
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Pillar of the Community
United States
7053 Posts |
I to have a % budget that rolls over month to month, if I can't find that Wooow coin and no more impulse buying or bidding (unless under melt value by 15 to 20%) Side note, my girlfriend thinks every coin I buy was 2 bucks.. |
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Pillar of the Community
United States
584 Posts |
i keep mine in the good o trusted gun safe and myself only has the key and combo lol. more worried about the kids over the wife. As for a budget like my wife if its a very good deal buy it if not leave it alone, but then again I'm not buying bu rolls from 1900s from boa or frb either dont have that kind off budget lol.
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Pillar of the Community
1110 Posts |
Quote:Side note, my girlfriend thinks every coin I buy was 2 bucks.. You should marry that one! She won't want your coins during the divorce settlement. |
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Pillar of the Community
2145 Posts |
Quote:
Quote:
Side note, my girlfriend thinks every coin I buy was 2 bucks..
You should marry that one! She won't want your coins during the divorce settlement. Yeah but that might backfire. If she needs a quick 20$ she may just grab 10 of your most prized coins.........  |
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Pillar of the Community
United States
9395 Posts |
I didn't add any coins after march 2020, so I have a lot of "budget" saved up to improve my US type collection with slabbed coins (NGC registry set).
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Bedrock of the Community
United States
20753 Posts |
At a coin show some time ago a dealer told me his assistant just got a divorce so he quickly started to sell off everything before she did.
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Pillar of the Community
United States
7955 Posts |
@STT, I hope your coin budget is set aside after you've set aside retirement savings each month. Very important.
I don't budget for my coin purchases (though I tend to be resistant to coins above a certain pricepoint), and my 2020 spend was a bit like you describe... so maybe I should. I've gotten less disciplined as I've gotten older.
Edited by tdziemia
01/08/2021 09:02 am
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Pillar of the Community
United States
7279 Posts |
The way it should work is:
1) Save the most you can for retirement, the current limit is $19,500 if under 50 and another $6500 if over 50.
2) Save for a rainy day
3) Live within your means
4) Save money for frivolous things (like vacation, hobbies, dinners out)
The top 3 are most important. I only spend money on my hobbies when the top 3 are taken care.
But to your comment. I put away X every 2 weeks for my hobby, I also have a budget for lunch, gas, etc. Since I have been working from home the small budget is barely touched, so I've been using some of the excess to get a few more coins/currency than usual. When something costs more than my budget, I wait until I have enough. I also have a small astrophotography hobby that I sell my images and use that money to support my hobbies. Some months like last, I sold 3 prints and had extra, so far this month nothing is selling, so my purchases will be less.
Also you have to take into consideration what you want to buy. For example an MS 66+ coin might cost you $1000 while that same coin in MS 64 might be $200-$300. I would get the MS 64, but many people will get the MS 66+, neither is wrong, its just what you want from the hobby.
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Pillar of the Community
United States
3281 Posts |
You guys don't have much faith in the goodness of humanity now do ya? Goodness gravy  |
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Moderator
 United States
189117 Posts |
Quote:
Yeah but that might backfire. If she needs a quick 20$ she may just grab 10 of your most prized coins  |
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Pillar of the Community
Canada
1723 Posts |
For the most part I play with my coins from start of November until April and then they tend to go away. Start of November I look for what I did not acquire for that year to stay current. Then I get reacquainted with my coins, what I have, don't have, change in trends etc etc. Usually my daughter likes to try and get me a coin for Christmas so I'm able to give her an idea. Then Christmas comes around and I get a little bit of money from out of town family. I usually a lot half that money somewhere and the rest I will look at what I'm looking to buy. I might pick something up with it or I might save the money until February when it's my birthday. I usually pool all the money together and usually will try and look at a higher value coin. I also give a happy birthday to me $100 as well. Leading up to the end of April I just and acquire the coins needed for the new year and fill in any additional coins I can afford with money left over. Very little of my household income goes to coins since I'm a single family/parent household. Also I will occasionally try and sell random little things I have around that doesn't interest me to generate a little more revenue for the pot. This year I have a larger pot from selling the remaining stock I had of small cents and nickels I had from when I was putting together albums and selling online. That brought in a decent amount of extra money so I'm really looking forward to what I'm going to do with it. A high value coin or perhaps a whole bunch of them. Don't know yet. I'm also one of those people that would spend $200 on the ms63/64 coin rather than $1000 on a 66. But that's geared to what my life and income is like. Plus I only want to see clean crisp details. If I can get that in a AU coin then I'll buy a AU coin instead of MS to keep my cost down but still have a decent example.
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Pillar of the Community
4628 Posts |
I plan to have budgets and stick to them.
But then something like a 1731 halfcrown comes along and its 500 bucks - those well intentioned plans go out the window.
Seriously my coin spending is dictated by what's on the market and how badly I want it.
I have no willpower and I know a lot of you don't either.
The partner is dealt with and after some sweet talking or what else to get them in a good mood, - I slip in "Oh I bought another coin and its really rare, an investment and its nearly 300 years old etc" - works every time.
I sometimes get a lecture about saving money, but the fact its a coin and there is something to show for it rather than expensive clothes, cars, perfume or drugs/substances, means he is not too concerned.
Edited by Princetane
01/10/2021 11:15 pm
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Replies: 19 / Views: 2,952 |
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Posted 01/07/2021 3:49 pm
