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Replies: 19 / Views: 2,253 |
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Pillar of the Community
 United States
608 Posts |
jbuck, If you travel to a show that's 20 miles away the cost for the round trip, at $0.50 per mile, would be $20.00. So the cost is not minor. However, you also get the enjoyment and the excitement of the hunt at the show, which is a reason enough to go even if you don't buy something. Postage is cheaper then traveling, and to me is part of the hunt for the coin so I don't figure it in the cost.
Edited by bill069 06/29/2009 1:44 pm
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Moderator
 United States
189233 Posts |
More good points!  I always forget that some people have to travel a lot further than I do for coin shows. This is like the decision on whether or not to included the tax when calculating a tip. 
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Pillar of the Community
United States
3294 Posts |
$0.50 of gas should get you a lot further then a mile unless you are driving a tank or a semi. Even my gas-hog V-8 car is about $.25 a mile. Still, I would say that gas is not trivial for a trip of 40 miles. Of course, outside the US, gas costs a lot more.
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Pillar of the Community
 United States
608 Posts |
$0.50 a mile includes gas, insurance and depreciation. this rate comes from your IRS! As a matter of fact it may be $0.52 this year.
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Pillar of the Community
United States
3294 Posts |
The IRS and most other government entities are pretty clueless when it comes to $, seeing as how insurance and depreciation are not really a function of driving your car for the most part. You have insurance and depreciation whether you drive your car, or it is sitting in the garage.
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Pillar of the Community
 United States
608 Posts |
nod2003, I was talking about the cost of using your car as opposed to paying postage to purchase a coin. This is one rate that can be used. I'm not looking to discuss the IRS. You're welcome to figure your cost any way you would like.
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Bedrock of the Community
United States
20753 Posts |
Kind of an interesting topic. I never really thought about all the miscellaneous costs involved in coin collecting. For example how much money was spent on coin collecting items such as 2x2's, plastic rolls, Albums, Folders, those long two row boxes for 2x2's and lots of other items. Then of course all the coin shows I go to. Usually about 2 to 4 coin shows a Month. One has an entrance fee of $5 and parking is $11/day. Most shows are free but the gas for your car getting there? Of course no one ever thinks about wear and tear on your car either. How about the coins given away to someone as a gift? Usually I give away 10 to 15 sets of either Uncirc or Proof coins for Christmas and a Ringed Red Book too. Then of course there is the coin books. I've got all the Red Books from 1 to present. Now if you really want to get picky, think about the food and or coffee spent at a coin show that wouldn't have been spent if you didn't go. Of course for those that insist on cleaning a coin, there it that Acetone from Walmart. So now there is those safe deposit boxes that could be much smaller if no coins. Someone should really make a list of all the things involved with this hobby. Might be a little scarry.
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Pillar of the Community
 United States
608 Posts |
just carl, you bring up a lot of good points. But when I started this topic I was only thinking about the cost of putting an album together, the cost of each coin put into the album. To me, the cost of every thing else is just a part of living and enjoying your life and hobby.
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Pillar of the Community
 Canada
9865 Posts |
Don't forget that your time and energy are worth something too.Vigorous coin collecting can burn up to 10 extra calories per hour and if fueled by beer can add about 4 cents per hour to your cost.
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Pillar of the Community
 United States
608 Posts |
 Its beer that limits the amount of funds I have to purchase coins! 
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Bedrock of the Community
United States
20753 Posts |
And too what about the electrical bill from posting on this forum?
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Bedrock of the Community
United States
14454 Posts |
Quote: I've seen some peoples 7070 with a value that could buy a house. last time I calculated the replacement value for the coins in my 7070 album I had close to $20,000.00 worth of coins in mine and still have a couple multi-thousand dollar coins to go (the classic head Large cent I have on layaway wasn't included in the cost so far) before it is complete so I can definitely see where some peoples albums would atleast be a nice down payment on a nice house
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Pillar of the Community
 United States
608 Posts |
Bryan1315, reading what you have put into your 7070 albums makes me wonder how much different albums cost on average. That would be a good pole to take, if members are willing to divulge what it has cost, to put individual albums together.
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Bedrock of the Community
United States
14454 Posts |
well the 7070 was (and still is) my first album I have ever tried to put together myself. I have a few folders that my grandfather and I put together out of pocket change and from stuff he had thrown in a jar from years earlier when I was a kid . If this dadburn 7070 is any indication on how I would do other albums I think it is best I just stay away from them all together and stick with collecting VAM's of a particular date or a whole collection of date/mm morgans
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Pillar of the Community
 United States
608 Posts |
Well it sounds like you have gone for quality over quantity in collecting.
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Replies: 19 / Views: 2,253 |
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