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Valued Member

United States
462 Posts
 Posted 08/04/2010  10:43 pm Show Profile   Bookmark this topic Add KisNap to your friends list Get a Link to this Message Number of Subscribers
Hello. I'm newly married and I need some advice. My wife collects stamps and can't seem to cope with the fact that a cheap MS Morgan dollar would cost $35. Forget trying to tell her that a rare coin could cost hundreds of dollars. Can anyone help me figure out a way to explain how maybe coin collecting is just worth more than stamps without saying exactly that? I really appreciate your help. She flipped out when I spent 200 on a GSA 1882CC Morgan dollar!
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Billie's Avatar
United States
592 Posts
 Posted 08/04/2010  11:01 pm  Show Profile   Bookmark this reply Add Billie to your friends list Get a Link to this Reply
Nooo......Don't tell her.
Valued Member
United States
462 Posts
 Posted 08/04/2010  11:09 pm  Show Profile   Bookmark this reply Add KisNap to your friends list Get a Link to this Reply
It's too late for that. I tried that and she almost cried saying that I'm lying to her about how much I spend on coins. She just doens't believe that coins can cost $40 or less. She knows that in the past I've lied to my parents about how much a coin costs and for obvious reasons. Try telling your parents that you spent $200 on an MS 1882 CC and see if they understand if they're not into collecting. Comon, there has to be a good explanation to coin collecting and why people spend lots of money on it.
Edited by KisNap
08/04/2010 11:16 pm
New Member
8 R€­ÅL€Š™'s Avatar
United States
33 Posts
 Posted 08/04/2010  11:12 pm  Show Profile   Bookmark this reply Add 8 R€­ÅL€Š™ to your friends list Get a Link to this Reply
It's another way of saving money pure & simple. I just tell everyone that its transferring paper money into precious metals. I'm not really "wasting" money or spending it I'm just "transferring" it.
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Nazarene's Avatar
United States
128 Posts
 Posted 08/04/2010  11:30 pm  Show Profile   Bookmark this reply Add Nazarene to your friends list Get a Link to this Reply
You two need to really discuss this or it will turn ugly. You will likely have to set a discretionary spending budget and adhere to it. I am going through this as well, but on a smaller scale (less $$$.) I have had to realize that I am not single any more and that being married has its compromises. I used to throw money at whatever interested me, but now that I am married and have kids, I have had to really scale back my discretionary spending.

Where I used to have $200-$400 a month to play with, now it is more like $20-$40.
So my options are saving and getting an occasional piece, or find things to collect that still make me happy, but are within my new budget.

I have sold some of my stuff on ebay for "coin money" and she had no issue with me spending that. Maybe try and educate her a bit and sell it as an investment? Bottom line is that you will both have to agree or you will have problems.
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United States
619 Posts
 Posted 08/04/2010  11:32 pm  Show Profile   Bookmark this reply Add deadmunny to your friends list Get a Link to this Reply
Did you explain to her that your coin purchase can be looked at as an investment? I'm assuming you didn't overpay. Show her some 40% JFK halves and a 1964 half that you pulled from rolls and explain to her how much that 50 cent investment is really worth based on today's silver price. Can you do that with stamp collecting?
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BadThad's Avatar
United States
19935 Posts
 Posted 08/04/2010  11:35 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
Easy...intrinsic value....and... Her stamps are like fiat currency. LOL
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 08/04/2010  11:50 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
Take her to the Heritage Auctions Archive, and show her real-world prices going back 15 years for your 1882-CC. If she has time, show her the 175,000 Morgans Heritage has auctioned. Then take her to ebay, and show her the 7500 Morgan dollars currently available via Buy It Now for less than $50.

Once she realizes the scale of numismatics, and the real-world sales prices coins go for, she will understand.

Then do what she says anyways. You're married, after all.
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specksynder's Avatar
United States
1080 Posts
 Posted 08/05/2010  12:00 am  Show Profile   Bookmark this reply Add specksynder to your friends list Get a Link to this Reply
You gotta be open. If one spouse thinks the other is hiding expenditures, things will go downhill fast. She may not see the coin expenditures as reasonable, so you need to equate it things she CHOOSES to spend money on. Is her clothing budget bigger than yours? A common-date Morgan is equal to one pedicure. Her stamps are a lot cheaper, but they are much harder to liquidate as well. Point out that you can sell that GSA Morgan tomorrow if you need cash.

Things go well if both partners think the spending is equitable. It took Mrs. Specksynder & me a while to get past some bitterness. Now we realize we each splurge every once in a while, but budgeting discretionary funds really helps.

I have a "hobby" bank account. This is where birthday money goes, funds from ebay sales, poker winnings, etc. This is the money I can spend on my coins without any fallout. Otherwise, any unusual expenditures over about $75 from our joint account have to be "discussed." (I can't remember the last time anyone vetoed something, but it's because we really think things out before we bring them up.)

Now, if money is short one month, my hobby account doubles as another savings account. So I have transferred money from there to cover plumber, car repairs, etc. Even though it sits in a separate account, it's still "our" money.

Remember the coins are not as important as your family. You might have to put the collecting on hold from time to time (buying a new house, having a new kid). You've seen members here selling things every once in a while to free up some funds. Tell your wife you'll be up front about your spending and stick to it. (But that being said, she doesn't have to approve of how you spend your discretionary money.)

Each couple is different, so these are just some ideas that worked for us, but above all, my advice is to be honest. It was tempting to fudge the numbers when I spent $75 on a half-dozen nickels last month, but turned out she didn't care and I wouldn't be happy thinking I had to hid something all the time -- especially something I really enjoy.
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Silver_Hoarder's Avatar
Canada
68 Posts
 Posted 08/05/2010  12:06 am  Show Profile   Bookmark this reply Add Silver_Hoarder to your friends list Get a Link to this Reply
a nice read considering I'm getting married next summer!! GL with everything
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mrwisker's Avatar
United States
581 Posts
 Posted 08/05/2010  12:37 am  Show Profile   Bookmark this reply Add mrwisker to your friends list Get a Link to this Reply
My wife...understands that anything I collect, is an investment of some sort.
She also knows that coins are one of those things that, depending on how and where they are acquired, will always be worth just as much if not more than what I paid for them.
That being said...
You might just consider an attitude of, If I have to explain, you won't understand.

Why do I collect so many things, Why do I like baseball, why do men like well endowed women...If I need to explain, you won't understand.
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wolf-n-wa's Avatar
United States
602 Posts
 Posted 08/05/2010  03:39 am  Show Profile   Bookmark this reply Add wolf-n-wa to your friends list Get a Link to this Reply
Don't even bother. No matter what you say a penny will only be worth a penny to her. I say this through experience. WOLF
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sel_69l's Avatar
Australia
21786 Posts
 Posted 08/05/2010  03:45 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Cop out and collect ancient coins instead. The ancients never had stamps!

For some reason that I have never been able to explain, I have never understood stamps, although I do have a few, along with some basic stamp reference books.

I have been married 35 years. My wife couldn't care less what I collect, or how much I spend. I completely neutralized her when I disposed of my entire collection for many thousands just before we married. The proceeds were the 20% deposit on the first house we bought. I must admit, our house was paid off 20 years ago.

I have since built up a much bigger collection than the first one. She cleans up on that if I kick the bucket!

I also own an old Mercedes, which she also doesn't care less about, and I am also into gemcutting as a hobby. I made her a very nice yellow sapphire and emerald ring, and my daughter has definitely reserved THAT when I kick the bucket! Hopefully, they are going to have to wait very many years. Actually, my wife is the best buddy I have ever had. She's a lot of fun.
Edited by sel_69l
08/05/2010 04:03 am
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Namachieli's Avatar
United States
2120 Posts
 Posted 08/05/2010  11:19 am  Show Profile   Bookmark this reply Add Namachieli to your friends list Get a Link to this Reply
You know stamps can be worth a lot of money too.

My grandfather collected stamps and coins. When he gave away his collection to my aunts/uncles/mom it worth over $10,000. When I asked him about he said his stamp collection was worth more. He had sold it about 10 years later for over $18,000.

Never knew stamps could be worth alot...

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Namachieli's Avatar
United States
2120 Posts
 Posted 08/05/2010  11:19 am  Show Profile   Bookmark this reply Add Namachieli to your friends list Get a Link to this Reply

Quote:
my wife is the best buddy I have ever had. She's a lot of fun.


True that.
Bedrock of the Community
United States
20753 Posts
 Posted 08/05/2010  12:10 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
You really have lots of options with this problem.
1. Contact a divorce attorney
2. Stop collecting coins and switch to Beanie Babies
3. Both quit collecting stuff and blow all your money on the horse
races.
4. Continue doing what your both doing but never talk to each other
again.
5. Have a mother in law move in with you two to be a mediator.

Actually almost anyone that is into a hobby thinks what they are doing is the one. Other hobbies are OK but theirs is the right one that everyone should be doing. Remember the Beanie Babies? Not long ago I knew many women that collected them and thought this was the investment hobby to beat all investment hobbies. I still remember a lady asking me if I could find the Beanie Babie called Lady Diane for less than $200. Now all sell for $1 if you can sell them that is.
My Son used to collect those sports cards. Showed me some that may well be worth a fortune in the near future. Then he, like everyone else, saw them on sale by the box of 5,000 for $5. So ended that hobby. And US Postal Stamps too at one time were really fantastic. Then the government started to make a stamp for everone or thing that ever existed so that hobby went down the toilet. Even now out government is starting to make a coin similar to what they did with stamps. Temporarily this has started a newer craze in coin collecting which if they continue, people will do as they did with stamps.
You may want to mention this to her or just say nothing.
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