More Fatherly Advice? - Coin Community Forum

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Author	Replies: 5 / Views: 1,101
ghostrider Pillar of the Community United States 1116 Posts	Posted 09/07/2012 11:36 pm Tonight was my wife's birthday so I took the whole family out to dinner (nothing grand but good conversation). My son was talking about Mark Cuban (owner of the Mavericks) and how he worked his way through college selling collectible stamps. Now as a one time stamp collector who has seen not only changing habits but what I feel was the wholesale beatdown of the hobby by the USPS selling way to many collectible stamps. So we managed to swing the topic around to coin collecting (he knows my hobby) and wanted to know my thoughts about the future of the hobby. The only truism that I could pass on to him was the old adage of buy low and sell high. He's been putting together a modest stack of ASE. I told him to continue to do that but to first put together a listing of years and their mintages and then go after the low mintage years. Years ago I started giving the kids silver dollars (they never got to possess them until they were on their own). I was surprised that he was listening on this point. Report this Post to the Staff

Spider5689 Pillar of the Community United States 2269 Posts	Posted 09/08/2012 12:23 am Getting the keys is great advice. I only wished someone would have told me that years ago. Report this Post to the Staff
basebal21 Bedrock of the Community 13014 Posts	Posted 09/08/2012 12:27 am Always good to have a nice night with the family. I agree now is a good time to go after harder to get coins depending on the available funds. With the economy currently down prices are generally suppressed as people just dont have the extra money or the number of people who do are more limited. You wont get rich doing it but you may be able to get a couple coins you generally wouldnt have been able to or wanted to spend that much money on during a booming economic period. Also agree on buy low sell high. Really a hard subject to give advice on with how unpredictable it is. But at the very least at least you got some bonding time Report this Post to the Staff
John1 Moderator United States 56855 Posts	Posted 09/08/2012 05:11 am First off,happy belated B-Day to your wife. You said your son has a stack of ASE's,sounds like he is a silver stacker not a coin collector. Maybe by getting the key date coins he will become a coin collector Quote: buy low and sell high works in a lot of areas,not just coins John1 Report this Post to the Staff
silvercoinrn Pillar of the Community United States 863 Posts	Posted 09/10/2012 11:22 pm Buying low and selling high is one of the hardest things to you do. It is completely opposite of your emotions. I'm still trying to teach my friends the benefits of a pops stock market while we are young, in our 20s. We have time on our side to wait for it to rise again. They all tell me I'm crazy to have mutual funds because the market is doing so poor Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 09/11/2012 10:55 am Consider yourself lucky. I was at a restaurant a few days ago. The next table had a group that looked like they were celebrating something. Two of the kids, teens, spent most of the time texting to someone. At a Zoo, in the Dolphin show, a family next to me had two kids that spent the entire show texting instead of watching the show. Your advise to him was basically for investing. I always think of this as a hobby and so many later find investing in coins just doesn't pay. Mostly for fun unless your the dealer doing the selling. Report this Post to the Staff
	Replies: 5 / Views: 1,101

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