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I Know It Is A Hobby But...

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Bedrock of the Community
United States
20753 Posts
 Posted 01/12/2011  9:15 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Good topic. I enjoyed reading the responses. Half of me likes coin collecting as a hobby, but the other half of me wants to collect coins that appreciate in value over time.


And it's not just coins as I mentioned. Almost anything you collect as a hobby should really be your hobby, not an investment.
If and when you pass away, in many instances relatives have no or little idea of what you have and just basically dump it all for practically nothing.
A neighbor of mine in his 90's was recently taken to a place for it's time to go. (Hate to say dying). He collected model planes and his garage was virtually loaded with them. Many hundreds of them. His daughter called in a hobby store and they hauled the entire collection away for nothing. She just wanted it all out.
There are probably many such stories.
This too could have been coins, guns, knives, swords, cars or anything. So remember that this is supposed to be YOUR hobby, not YOUR investment or something for future relatives to just dump into a bank.
Pillar of the Community
Coinstar's Avatar
United States
1510 Posts
 Posted 01/12/2011  9:25 pm  Show Profile   Bookmark this reply Add Coinstar to your friends list Get a Link to this Reply
My favorite part is you can hold "History" in your hand--that 1870 IHP--who owned it? where has it been? thats my favorite part.
Retired USAF 1983-2003
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lincolncollector's Avatar
United States
373 Posts
 Posted 01/12/2011  10:44 pm  Show Profile   Bookmark this reply Add lincolncollector to your friends list Get a Link to this Reply
None of my relatives know anything about coins, so I would have to make a list of what I have (if I have any coins left at that time), and
put some websites, or something with proof of the coins' values, so coin dealers don't take advantage.

And, I also love holding a coin from 18?, and thinking who else held this coin......
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jbuck's Avatar
United States
189120 Posts
 Posted 01/13/2011  11:09 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
So remember that this is supposed to be YOUR hobby, not YOUR investment or something for future relatives to just dump into a bank.
Well said, Just Carl.

In my opinion, once you become concerned with your collection as an investment vehicle, you lose focus on what makes it fun. I hate to think my heirs would just dump my collection, so I do not think about it. I just enjoy it while I can.
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