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 Replies: 27 / Views: 2,319 |
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Pillar of the Community
United States
533 Posts |
Budget?!?! Could you please define that for me? My wife is always telling me that I have no idea what one is so any help would be appreciated.
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Pillar of the Community
 United States
1179 Posts |
Thanks for the input guys. I'm into coins because I love the hunt and the looks of a certain few. I just would really like to be able to explain to the wife that coin collecting is more of an investment, not just spending. Of course, she wont see that side until I sell a few here and there. But, just starting out, coins I buy are for my new collections etc... I have been dreaming of ways to make a buck, no get rich quick schemes, just a few bucks a month.
I gathered up some ideas from your posts, should be able to figure something out. I'd like to build my collection slowly, I feel its the best way. Thanks again guys. I love this community :)
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Pillar of the Community
United States
3234 Posts |
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Pillar of the Community
United States
2600 Posts |
I can always find $100 to buy a coin so budgeting starts somewhere after that. New collectors tend to want just about every coin they see, at least I was that way. As you grow out of that mode and start collecting by goal, it becomes much easier to budget because you aren't distracted as much. Like others here, I always keep extra tucked away for shows and auctions or that deal that comes along. Culling your collection, after it has grown significantly will generate extra cash, too.
Jim
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Pillar of the Community
United States
936 Posts |
I try to say to myself "no more coins until you organize what I have" then one of the sellers on ebay I like to buy from sends me an email for something cool and I have to buy it. I made the mistake of making a excel file for all of my recent purchases and did a total at the bottom, it was a lot more than I figured and probably only half of my purchase were on there, none of my BU rolls were figured. I am also like others where anything over a $100 bucks I do more research on and put more time into looking for that certain coin. If it is under $100 I tend to buy with no remorse. I delete all my recent purchases on ebay, it helps with the denial part of this hobby. I try to figure this as an investment, and only spend disposable income on it, kinda like penny stocks. Who knows what these will be worth in 10 years. So to answer the question, I have no budget, I spend more than I should and am in denial that I do. I do tell myself that if things ever got tight, money wise, I could sell some of my cents and make money on them, it helps with the denial part. |
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Pillar of the Community
United States
986 Posts |
It's pretty easy for me. Since I'm only 15, any extra money I have can be put towards coins. So my only real budget is how much liquid cash I have at the moment. It's great, except for the fact that I'm pretty much broke between big coin purchases.
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Pillar of the Community
United States
1231 Posts |
I follow along the same lines as SAP. If I see something I like, I buy it if I have the money. Sometime this winter I am hoping to sell off alot of extras I have, which will give me more money to spend
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Pillar of the Community
United States
2764 Posts |
Budget? Yeah, I had been working on that since the first day I started to get serious on this hobby..... I did set my limit, I did plan out my purchases, I did telling myself to limit my spending..... but I am just like "chrsb"...... I had the same mentality and the same denial concept..... hahahaha...... at least I don't feel a lone now.
I do agree with Jim1953 about the "new collectors' distraction" and the need to focus/concentrate on one particular serie/field.
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Bedrock of the Community
United States
17884 Posts |
quote:
I just do not want to spend spend spend and not make a few bucks here and there...im human right :)
I guess I'm not then. No big surprise. :) |
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Valued Member
United States
439 Posts |
Budget, yeah, good luck with it. heheheh
It's tough but like MetalMan said, focus. Get a plan and stick with it and you should be okay.
I end to stash a little away when I can, especially when in the summertime and I can get a bit of overtime. I have a short list of what I want to get and keep my eyes open. When my budget and the right coin with the right price match up then I'll probably buy it. Tax time I try to throw some of that into the budget and make a little bit bigger buy. If I've got anything remotely high dollar thats when I get it.
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Valued Member
United States
314 Posts |
I dont budget my coins since I buy tons of boxs from bank to search or build sets. I sometimes use my boxs of coins to pay bills or put gas in my truck sometimes after I search them. On stuff I buy I cant find in bank boxes. I opened an paypal account with ebay. If I sell 100 bucks worth of coins I can buy 100 bucks worth of coins after I pay ebay fees. I dont have an budget on it. Its all depends on how much I sell before I buy coins again. Thats my budget on coins but I try to buy as many bank boxes I can at any given time. Chevrolet454ss |
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Bedrock of the Community
United States
14454 Posts |
since us people on disability (and other fixed incomes)don't have the luxury of getting a big check at "tax time" so we have to do as I do and try to cherrypick peoples inventory to resale once attributed to buy the larger more expensive coins or find a good dealer that allows you to layaway a larger purchase priced coin and pay it off a little at a time
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Replies: 27 / Views: 2,319 |
First Page
Posted 11/26/2007 1:57 pm
