Hobby Vs Investment

It is dormant no longer!




Worth remembering.

I have never really looked at any hobby as an investment until recently. When I became disabled in 2010 I became tired and depressed at sitting around doing nothing. After four years of it it became clear I needed to do something. I've loved to fish since child hood but packing all the gear is no longer an option so I got into flying quadcopters. That was fun for a minute, next thing I knew was the cost of replacing the motors, props, upgrading camera was getting out of control. This turned out yo be way more than my new fixed income could handle. Next was carving walking sticks and canes, very relaxing and not too much strain on the beat up body. That was until I went to purchase carving knives. A whopping $750 for a set of 6 of the essential knives. Needless to say, that didn't last long. I needed something that I can enjoy and maybe start out slow, something that kept its value just in case I grew tired of it. But what?
Well, in Febuary f this year I inherited my grandfathers coin collection that my mother has held onto since my grandfather passed in 1979. My mother passed in Febuary and the coins became mine. After going through this collection I became hooked and realized that this is a hobby that, almost every dollar that I put into it stays with it! I don't have to keep replacing motors every other month like the quad, that was a money pit. This however, pretty much keeps what ever you put into I it. You can spend as little as you want or as much as you can afford. The quads I paid a couple of hundred dollars for will only bring about $25 if I'm lucky. My coin collection to me is priceless as it not only brings me joy, it also hold its value for the most part. It is also something that I share with my grandchildren. Which will probably be theirs someday. Unless I make a foolish purchase, I'm not throwing my money away. I feel that it is one of the only hobbies that retains it's value

I guess I should of added that I don't collect coins to profit on. I don't plan (at least right now) on selling any of the coins that I have purchased or inherited! However, I do see coin collecting as a hobby first and foremost, and as an investment as a bonus of the hobby, not as for a future profit.

GR58 has said it right; you had better believe him!

I have made a tremendous 'profit' from studying and collecting coins.

And I haven't sold a single coin in 40 years !
Yes, they have had an enormous increase in value over four decades, but that is not where the profit is.

For me, the profit is a lifetime abiding interest in the study of the whole of numismatics, which covers from invention of coinage 26 centuries ago.

Exactly!




Yes, if you or anyone is a career professional numismatist and have devoted your entire life to the subject and making a living from it, you (in my opinion) are the exception not the rule.




Yes, with a small caveat "temporary" custodians.


I haven't checked. There's probably one already out here somewhere. I should start a thread: What are your basic financial/investment strategies? I bet coins would be at the bottom of that list!

At least it has been a productive resurrection.

Ditto!

Price is related to the mintage and the demand - unless it comes to them gold US Mint anniversary coins they and dealers are still trying to sell -