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How Do You Finance Your Collection?

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Pillar of the Community
United States
1372 Posts
 Posted 12/22/2009  6:00 pm  Show Profile   Bookmark this reply Add Chancellor Sutler to your friends list
I have a 1943 Copper cent here somewhere....I'll see if I can find it. It's not plated either. It's also not American...but hey...it IS a 1943 small cent in "bronze". Why let a few little maple leaves spoil the fun?

Chancellor Sutler
New Member
United States
26 Posts
 Posted 12/22/2009  7:19 pm  Show Profile   Bookmark this reply Add arktekt3j to your friends list
I have a job, for now. I buy coins as I feel like buying them. Obviously that does not mean I can go buy the 1913 Liberty nickel any old time I feel like it. One month I may not spend any money on coins and the next maybe $1000 or $100. Just depends.
Bedrock of the Community
United States
20753 Posts
 Posted 12/24/2009  10:18 am  Show Profile   Bookmark this reply Add just carl to your friends list

Quote:

I've said this one before and I'll say it again, I finance my collecting by not letting my wife ever see the bank account. I "fudge" the balance in the checkbook to keep a healthy hidden balance. This hidden balance can be used for my collecting. Though my collection is primarily my collection, it always has at least some investment potential. The silver coins I bought when silver was at $4 an ounce is worth an awful lot more today. Occasionally the hidden balance gets too big so I'll make a big transaction and just not record it (just paid a $500 credit card bill without recording to bring the hidden balance back to a more reasonable level). This is a seriously great trick if you can get away with it.


Are you aware that wives also know how to use a computer? Wives also can find what web sites you look at? Wives can read? So just what are your plans when she does find out? Have you notified your next of kin?
And just how do you know that she hasn't put out a reward for this information?
Valued Member
United States
245 Posts
 Posted 12/24/2009  11:07 am  Show Profile   Bookmark this reply Add Figman to your friends list
"I finance my collecting by not letting my wife ever see the bank account. I "fudge" the balance in the checkbook to keep a healthy hidden balance."

Wait until she get's a lawyer and you have to sell the collection to pay him LOL.

I inherited a substantial collection with a lot of key dates, so it's a little easier on the pocket book.
Valued Member
United States
297 Posts
 Posted 12/24/2009  11:33 am  Show Profile   Bookmark this reply Add unnkown95 to your friends list
my parents pay for it:)
Pillar of the Community
United States
4085 Posts
 Posted 12/24/2009  2:34 pm  Show Profile   Bookmark this reply Add KenKat to your friends list
I budget $50 a month, plus any cash gifts that I receive around Christmas or birthdays plus any money I net from selling off duplicates or upgrades.

It can be frustrating to wait sometimes but I also go through spells where I can't find anything I want and that kitty keeps building!

Ken
Pillar of the Community
United States
7123 Posts
 Posted 12/24/2009  3:37 pm  Show Profile   Bookmark this reply Add Metalman to your friends list
I Buy,sell,trade many different types of collectables, as well as work my tail feathers off.





Pillar of the Community
United States
1534 Posts
 Posted 12/24/2009  4:05 pm  Show Profile   Bookmark this reply Add wheatguy to your friends list
Well, being a YN and not being able to work definitely doesn't help, but I've found a few ways to make money. I recently bought one of those two-headed candy machines, bought some M&M's and Skittles, and I placed the machine in a restaurant. It generates about $30-$40 a month, which is then mostly spent on coins. There is a pawn shop near me that often has some cheap silver and some really good deals, so sometimes I buy there and then resell on Craigslist or some other website for a profit.
Edited by wheatguy
12/24/2009 4:06 pm
Valued Member
United States
103 Posts
 Posted 12/24/2009  4:45 pm  Show Profile   Bookmark this reply Add Sukardnam to your friends list
I have a bank account linked to paypal/ebay. I ebay coins and any other junk that can make a few bucks and the balance goes to filling up my IHC/FE Dansco. My best year was 2009 when you could go to the bank get a $25 box of pennies and ebay them for $75 to $200 I hope 2010 will be as kind lol.
Valued Member
United States
84 Posts
 Posted 12/29/2009  01:16 am  Show Profile   Bookmark this reply Add RobertBidniuk to your friends list
Interesting post to read, lots of good and some funny ideas/methods on here. I myself mainly started just from circulation and roll hunting. Its always great to fill holes for face value. As now I an getting more into it I will have to start buying coins and I think I will just set aside a specific amount each month and stick with that. Seems like a good idea. I will definitely have to look into the method mentioned in the post above (sorry don't know how to do the quote thing, can someone please tell me :) )
Valued Member
United States
292 Posts
 Posted 12/30/2009  07:54 am  Show Profile   Bookmark this reply Add dreamstones to your friends list
Like some on here...buy low sell high (mostly from roll hunting-doesn't get any lower than that.). I particularly like buying rolls of halves and finding silver to sell! I just bought my first semi-key for my Walking Liberty half set-a 38 D in fine condition using this method...slow, but it works for me. Not sure if I could do the bank account fudge thing...I chose not to keep secrets from my wife a long time ago. I guess it's that whole trust thing...
New Member
United States
1 Posts
 Posted 01/01/2010  11:11 am  Show Profile   Bookmark this reply Add mlaho22 to your friends list
For those that buy and sell...where is the best place to find deals on coins for resale? I am just starting collecting and interested in buying and selling to support the coins that I want to keep in my collecton.
Pillar of the Community
United States
851 Posts
 Posted 01/01/2010  11:13 am  Show Profile   Bookmark this reply Add coins92 to your friends list

Really big lemonade stand business.
Just kidding. I manage to fund my coin collection by waiting tables Friday, Saturday, and Sunday and by selling my photography. In a strange cycle, the money I make waiting tables, funds my coin collection and the profit I make from my coins funds my photography, and the money from the photography goes back to my coins.
Edited by coins92
01/01/2010 10:49 pm
Bedrock of the Community
United States
14454 Posts
 Posted 01/01/2010  6:43 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list
I don't have a set amount I put back for any particular coin and even though I haven't bought anything in some time before now I have bought a few the past week. If I see something I want I will purchase it and if I know I can't make it on what I have in my bank account the rest of the month (I am on disability) I will pull a coin or two out of my collection that doesn't mean as much to me as the coin I just purchased or a duplicate coin (which I usually have a few of the same VAM in all various grades) and sell it to fund the coin
Pillar of the Community
United States
3294 Posts
 Posted 01/04/2010  10:00 am  Show Profile   Bookmark this reply Add nod2003 to your friends list
Donating blood plasma, walking 8 miles each way to work to save on gas, keeping the heat at my house on 36 deg F in the winter and 96 deg F in summer, a bread and water diet for starters.


But I am not quite that dedicated.
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