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Having A Good Coin-Buying Budget

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Pillar of the Community
SilverCents's Avatar
United States
3281 Posts
 Posted 01/08/2021  09:09 am  Show Profile   Bookmark this reply Add SilverCents to your friends list Get a Link to this Reply
You guys don't have much faith in the goodness of humanity now do ya?


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jbuck's Avatar
United States
188878 Posts
 Posted 01/08/2021  09:39 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Yeah but that might backfire. If she needs a quick 20$ she may just grab 10 of your most prized coins
Pillar of the Community
Canada
1723 Posts
 Posted 01/08/2021  12:10 pm  Show Profile   Bookmark this reply Add samsnate to your friends list Get a Link to this Reply
For the most part I play with my coins from start of November until April and then they tend to go away. Start of November I look for what I did not acquire for that year to stay current. Then I get reacquainted with my coins, what I have, don't have, change in trends etc etc. Usually my daughter likes to try and get me a coin for Christmas so I'm able to give her an idea. Then Christmas comes around and I get a little bit of money from out of town family. I usually a lot half that money somewhere and the rest I will look at what I'm looking to buy. I might pick something up with it or I might save the money until February when it's my birthday. I usually pool all the money together and usually will try and look at a higher value coin. I also give a happy birthday to me $100 as well. Leading up to the end of April I just and acquire the coins needed for the new year and fill in any additional coins I can afford with money left over. Very little of my household income goes to coins since I'm a single family/parent household. Also I will occasionally try and sell random little things I have around that doesn't interest me to generate a little more revenue for the pot. This year I have a larger pot from selling the remaining stock I had of small cents and nickels I had from when I was putting together albums and selling online. That brought in a decent amount of extra money so I'm really looking forward to what I'm going to do with it. A high value coin or perhaps a whole bunch of them. Don't know yet. I'm also one of those people that would spend $200 on the ms63/64 coin rather than $1000 on a 66. But that's geared to what my life and income is like. Plus I only want to see clean crisp details. If I can get that in a AU coin then I'll buy a AU coin instead of MS to keep my cost down but still have a decent example.
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Princetane's Avatar
4628 Posts
 Posted 01/10/2021  11:07 pm  Show Profile   Bookmark this reply Add Princetane to your friends list Get a Link to this Reply
I plan to have budgets and stick to them.

But then something like a 1731 halfcrown comes along and its 500 bucks - those well intentioned plans go out the window.

Seriously my coin spending is dictated by what's on the market and how badly I want it.

I have no willpower and I know a lot of you don't either.
The partner is dealt with and after some sweet talking or what else to get them in a good mood, - I slip in "Oh I bought another coin and its really rare, an investment and its nearly 300 years old etc" - works every time.

I sometimes get a lecture about saving money, but the fact its a coin and there is something to show for it rather than expensive clothes, cars, perfume or drugs/substances, means he is not too concerned.
Edited by Princetane
01/10/2021 11:15 pm
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