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 Replies: 19 / Views: 2,870 |
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Valued Member
120 Posts |
It occurred to me fairly quickly after the infection struck that a $10 coin does not end up costing $10 throughout its life with its owner.
You have to protect your purchase but you can't just buy 1 2x2 cardboard flip nor 1 direct fit Quandrum capsule, you have to buy multiple which then concludes that you need to fill the remaining protectors with other pieces. A percentage of the protector's purchase price is added to the original $10 coin along with a percentage of the purchase price from all the coins that end up filling the remaining coin holders.
Now you need to protect the coin holder especially if it can be scratched. We've all seen the felt lined custom storage and display boxes and of course 2x2's can be put in a page of 20. If using a page or a box of Whitman, more coins now need to accompany your initial purchase. A percentage of all of this now gets added to the $10 coin.
So, now, we need to start thinking about unexpected possibilities... fire, flood and thieves. A fire and water proof storage box... a safe or safety deposit box at the bank... insurance... a guard dog... security cameras and lights!!! A percentage of the total end cost of the lifelong upkeep, maintenance and security for the $10 coin now gets added to the original purchase price.
In the end, the $10 coin, which is still only 25 cents at the grocery counter, has cost its owner... uhm... my math ain't so good so early in the morning but, in actuality, I bet this number is staggering! Still I am only supposing here.
I think we're all a little kookie to be doing this. If this revelation is a real eye opener for some and you'd like my support to help get you outta this dastardly coin collecting affliction, call me, I can dispense with your hoard free of charge, lol
If ya worked yesterday... I hope ya got double time and a half!
Happy Tuesday Trails!
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Bedrock of the Community
Australia
21786 Posts |
For the guard dog, you must include in the overall costs of maintaining keeping and protecting your coin:
1. dog food
2. vet bills
3. public liability insurance, if your doggie take a dislike to an intending thief.
Also if your relationship with your spouse is turning sour, make sure that the coin is not sold without you knowing, just to spite you.
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Bedrock of the Community
United States
19120 Posts |
What are the hidden, 'feel good' benefits of coin collecting?
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Pillar of the Community
United States
7273 Posts |
Think about also the long term value of money. That $10 in the coin could earn you 7%-8% per year invested in a low cost s&p 500 stock index fund. By having that 100,000k collection means you'll have to work more years. These coins are costly p  Note: This also applies to eating out, buying Starbucks or drinking wine, going on vacation. Edited by hfjacinto
09/07/2021 09:18 am
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Valued Member
United States
266 Posts |
You forgot special stapler, heat sealer, magnifying glasses, loupes, scale, gloves, camera, copy stand, microscope, containers, ezest, acetone, capsules, capsule holders, etc.
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Valued Member
United States
284 Posts |
I just sold a few expensive coins, among them my slabbed MS64 BN '55 DDO. I've held on to it for half a century. This sale was my first venture out into that world. Age and illness have decreed that time has become my most precious resource and in future I'll be given less and less to spend on coin collecting. It was time to move. I've no idea what I'm doing. I just know it's time to do it while I still can. Upon recent contemplation, I believe owning coins should imitate owning and operating a car or a medical license. Start with education and training; then add supervised practice; next, testing by experts to secure a provisional license with restrictions, then finally a full license (which becomes invalid if the owner fails to accrue enough continuing education units annually). I've been doing some post-sale studying to assess my handling of the DDO sale. I accepted $3,200.00. Here's what I learned. PCGS reports that one like mine sold recently for $4,500.00. But, we must assume that one was sold by its owner AND a corporation, most likely an auction house. I'd place the fees at around 20% or $900.00, so the owner cleared $3,600.00, perhaps. So, I figure I may have sacrificed a $300.00 discount in order to reduce the time, risk and stress. The sale took two minutes. The dealer I sold to is likewise saddled with fees he must pay to re-sell that coin (hired help, building costs, taxes, transportation). I'm thinking I did okay. Kevin |
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Valued Member
United States
55 Posts |
My idea of hidden costs is slightly different in how can I hide this purchase from my wife lol.
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Valued Member
 120 Posts |
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What are the hidden, 'feel good' benefits of coin collecting? Being swarmed by adoring fans wanting to bear my babies... no wait, that's my musical feel good dream... I keep hoping there is some underground coin collector's groupie fanclub that I have yet to stumble upon. Uhm... coins... uhm? Because of how the who I am and some ideas of each sow, I am bafflegasted that I collect currency and that I do not use currency only as such. My feel good here is kinda at odds and sometimes totally at war. They are Art and that is really my only feel good... I can't even guarantee that my hoard will be worth more than the inheritance paperwork that will be read to my 3 children. Thank you for the reply. |
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Valued Member
120 Posts |
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how can I hide this purchase from my wife Absolutely yes one has to include on the $10 coin the cost of the "I'm sorry" chocolates, wine and floral arrangements when they eventually find out and restrict the mutual use of the wedding bed! Having gone through divorce and the subsequent parental discrimination, I wouldn't suggest being dishonest with a spouse... your union is supposed to be unifying and anything done to one is done or maybe perpetrated upon the other mutually. Hope that wasn't a downer... thanks for "confessing your sins" lol |
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Valued Member
120 Posts |
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You forgot special stapler, heat sealer, magnifying glasses, loupes, scale, gloves, camera, copy stand, microscope, containers, ezest, acetone, capsules, capsule holders, etc. Gack, lol, I'm currently in an acetone tongue wrestling match here. It has been very pleasant. At this juncture in my career collection I don't believe acetone will ever be in the withdrawal column, lol, but I, although I do not remember my final calculations, did add the cost of 4 staples per 2x2 cardboard flip to a test I was conducting. It is possible to get this intensely specific, if one was so inclined. Too much work for me though, it would cut into my music making moments. Which I guess is why I haven't gone further into the inscriptions on my China fakes/forgeries/repros/templecoins/souvenier/cash... etc Gack, I'm pedling gibberish... thanks for the chat! |
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Valued Member
120 Posts |
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if your relationship with your spouse is turning sour, make sure that the coin is not sold without you knowing, just to spite you. Keep your most precious coins secured in your bedroom so that if ever your spouse finds the hidden security cameras you've expertly installed in several advantageous locations, you can with a reasonably straight face claim they are there for the security of your coin collection and not other, possibly nefarious, reasons, lol. I told the woman that divorced me to be with her teenage first fling not to flush her wedding and engagement ring down the toilet as, she was exclaiming to be planning a wedding dress burning party. She said she wouldn't and I don't know one way or the other. I sold mine for melt and felt absolutely f'ing nothing. Whoops... lol, rant alert! Thanks for the reply! |
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Pillar of the Community
United States
7001 Posts |
lol...can I add although not an added expense but the emotional stress I paid, Xylene is prohibited for sale in California and I found it in Utah during a recent vacation, got 2 quarts and brought it home with me.....  |
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Bedrock of the Community
United States
20753 Posts |
This a hobby so if you make money or loose some, all part of the hobby. Think of people that have cars for their hobby. Some spend many thousands of dollars on just one car and loose most of it when sold. Coins are similar. Just a hobby.
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Pillar of the Community
United States
2869 Posts |
I use vechicles for hobbies but I never lose much cause youbuy it broken and fix it yourself.
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Pillar of the Community
United States
3281 Posts |
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This a hobby so if you make money or loose some, all part of the hobby. Think of people that have cars for their hobby. Some spend many thousands of dollars on just one car and loose most of it when sold. Coins are similar. Just a hobby. I agree completely. |
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Valued Member
120 Posts |
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This a hobby Gack... if only that for me were true. It is a way of life, if I can be cliche here. Life doesn't revolve around this obsession but it did change me more than just on the surface, so to speak. Wherever I go I look at everything differently. If I had been interested earlier on in life with this, I would have bought two of everything and put one in storage for 40 years and never breathed upon it and I ain't just talking currency. I should be doing this now and, to some degree, am. I am a musician/recording artist. In a community I used to be in, we had a lengthy, in depth discussion surrounding what makes us either a hobbyist, amateur and or professional. The bottom line came at... you're a professional when you get paid for it. Might be it the same truth to the matter here? Whatever the actual case, I don't consider this a hobby. My hoard is apart of the inheritance I leave to my children 'cause I ain't taking it with me. Does this make me a hobbyist or a miser or a business banking entrepreneur? |
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Replies: 19 / Views: 2,870 |
Posted 09/07/2021 09:10 am
