Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

A Failed Seed Planting - Morgan Dollar For Cat Watching

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 8 / Views: 413Next Topic  
Valued Member
Learn More...
United States
182 Posts
 Posted 03/28/2021  10:18 pm Show Profile   Check silverstash119's eBay Listings Bookmark this topic Add silverstash119 to your friends list Get a Link to this Message
I had grand plans to plant the coin collecting seed in my neighbors son today... we employed him to watch our cats and lizard while we traveled for a week, and after we got back today I went over to his place to give him a couple choices...

"So Jonas, I can give you this $40, which you can spend today, or I can give you this 1880 silver Morgan dollar, which is worth about $40, and it's value will increase over time... the $40 cash will decrease in value over time, or the Morgan dollar will increase in time but you'll have to hold onto it..."

Jonas: "uhhh.... I'm trying to save up for a new Xbox, so, I'll take the $40"



Oh well, at least I didn't lose my Morgan... would have been worth it though to get the kid interested.
Pillar of the Community
Learn More...
United States
1898 Posts
 Posted 03/28/2021  10:58 pm  Show Profile   Bookmark this reply Add Rothery to your friends list Get a Link to this Reply

Quote:
Jonas: "uhhh.... I'm trying to save up for a new Xbox, so, I'll take the $40"

Sad isn't it? I would have taken "I'm trying to save up for a new Berkley Bass rod & a fishing license" though!
Everything can change in just one day.........
Best Lincoln roll find & Nicest WOODY find
"If there are no dogs in Heaven, then when I die I want to go where they went." - Will Rogers
Valued Member
Learn More...
United States
182 Posts
 Posted 03/28/2021  11:02 pm  Show Profile   Check silverstash119's eBay Listings Bookmark this reply Add silverstash119 to your friends list Get a Link to this Reply
@rothery

Yeah, I was disappointed. Was hoping he'd hang onto it and keep it as his "first Morgan", but I wasn't going to push it. I did slip in a $1 Utah goldback with the $40.... just because I think they're cool.
Valued Member
Learn More...
United States
240 Posts
 Posted 03/29/2021  07:28 am  Show Profile   Bookmark this reply Add Kcm to your friends list Get a Link to this Reply
Kids! Ya know I love 'em! Care for a marshmallow?

https://en.wikipedia.org/wiki/Stanf...w_experiment

Kevin
Given the option of choosing between a very interesting coin or a rather valuable one, I'd choose the former every time . My vexation lies in the fact that the two so often coincide.
Edited by Kcm
03/29/2021 07:30 am
Pillar of the Community
United States
3686 Posts
 Posted 03/29/2021  09:38 am  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
Looking at this from the other side, if your employer was a big video game player and offered you either your current week's paycheck on a new XBox, which would you take?

I think it's good to throw something in for free to generate interest, but in lieu of money earned, your interests are just different than his. Neither is better or worse than the other.
Moderator
Learn More...
United States
99075 Posts
 Posted 03/29/2021  10:15 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Jonas: "uhhh.... I'm trying to save up for a new Xbox, so, I'll take the $40"
Ouch! Lesson fail!


Quote:
...if your employer was a big video game player and offered you either your current week's paycheck on a new XBox, which would you take?
Or in my case, a car stereo shop.

If only I could got back in time and reclaim the *thousands* of dollars "invested" in car audio.

The Alpine's bumping but I need the volume higher...
Valued Member
Learn More...
United States
182 Posts
 Posted 03/29/2021  12:12 pm  Show Profile   Check silverstash119's eBay Listings Bookmark this reply Add silverstash119 to your friends list Get a Link to this Reply
@kencat

Yeah I get it. I wasn't comfortable giving him a free Morgan, wanted to test him to see his interest level. I gave him the $1 Utah goldback as a bonus because, well, gold is awesome... especially free gold.

My own kids enjoy coin collecting, so I care more about getting them involved, and they'll be the ones getting more of the free stuff.
Pillar of the Community
Learn More...
United States
6064 Posts
 Posted 04/15/2021  9:43 pm  Show Profile   Bookmark this reply Add Finn235 to your friends list Get a Link to this Reply
I would have flipped my lid as a kid for the chance to own a real Morgan.

Can't blame him for not being interested, though. Consider:

1) $40 is a little under 10% of the MSRP of the new Xbox. If you were trying to buy a house, would you accept a coin that someone said is worth 10% of your home's value today, but could be worth 12% or 15% in a decade?

2) The melt value of a Morgan is about $20 today. The other $20 is your opinion stacked against a hypothetical buyer's opinion. A coin dealer might offer the kid $19 for it. Would you accept a vintage video game that seems to trend at $20 in lieu of $40 because I reassure you that something makes it special and worth twice as much?

3. Say what you want, but if you gave the kid $40 cash in December and he put it all in Dogecoin, he could sell it today and buy his Xbox.

4. Don't discount the video game market just because you're unfamiliar with it...
https://www.ebay.com/itm/Panzer-Dra...p-cvip-panel
Pillar of the Community
Learn More...
United States
4643 Posts
 Posted 04/16/2021  6:23 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
Hey, at least the kid understands "saving up for ..."

I remember when my son was approaching his 14th or 15th birthday (that makes it 2004 or so), he approached me and said, "Dad, I've saved up over $800 to buy the parts for the computer I want to build, but need about another $75 dollars. Could you just make that my birthday present?"

He's now a doctor, with a small business on the side, and has been giving me financial advice for the last 5 years (yeah, OK, it was ME who saved up for his college tuition).

There is something to be said for valuing financial discipline over the "shiny new thing" (even if that thing is a nice collectible coin).

Oh, and as a kid, I DEFINITELY would have taken the Morgan. Which is why I am now receiving advice, rather than giving it
Edited by tdziemia
04/16/2021 6:27 pm
  Previous TopicReplies: 8 / Views: 413Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.44 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05
New