| Author |
 Replies: 40 / Views: 7,435 |
|
|
|
Bedrock of the Community
Australia
21788 Posts |
GR58 has said it right; you had better believe him!
I have made a tremendous 'profit' from studying and collecting coins.
And I haven't sold a single coin in 40 years !
Yes, they have had an enormous increase in value over four decades, but that is not where the profit is.
For me, the profit is a lifetime abiding interest in the study of the whole of numismatics, which covers from invention of coinage 26 centuries ago.
|
|
Pillar of the Community
 United States
5029 Posts |
 We, my good people, are the custodians of the history of civilizations. That is the true treasure of our hobby. |
|
Pillar of the Community
5464 Posts |
Quote:
(Maybe because it is such a rare event.) Exactly! Quote:
GR58 has said it right; you had better believe him!
I have made a tremendous 'profit' from studying and collecting coins.
And I haven't sold a single coin in 40 years !
Yes, they have had an enormous increase in value over four decades, but that is not where the profit is.
For me, the profit is a lifetime abiding interest in the study of the whole of numismatics, which covers from invention of coinage 26 centuries ago. Yes, if you or anyone is a career professional numismatist and have devoted your entire life to the subject and making a living from it, you (in my opinion) are the exception not the rule. Quote:
are the custodians of the history of civilizations. Yes, with a small caveat "temporary" custodians. I haven't checked. There's probably one already out here somewhere. I should start a thread: What are your basic financial/investment strategies? I bet coins would be at the bottom of that list! |
|
Valued Member
United States
434 Posts |
I look at collectibles, such as coins, medals, and tokens as commodities. This is a direct quote from Warren Buffet: Quote:
"The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you.it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time." I totally agree with Warren Buffet. The coins, medals, and tokens in my collection are a direct result of hobby enjoyment. If I sell an item in my collection and make a profit, that is great (I succeeded in finding someone willing to pay more than what I did). So the million dollar question is: "How do you produce an income stream from your collection without selling anything from your collection?" Ask me in a few months, I'm in the process of executing a business plan drafted specifically to do this. |
|
Moderator
United States
189340 Posts |
Quote:
It is dormant no longer! At least it has been a productive resurrection.  |
|
Pillar of the Community
United States
1795 Posts |
Wow I've heard many compelling arguments on this subject and I must say they all have valid points. Now I will give mine. As far as I concerned coin collecting is a hobby for me although I do purchase the best coins that I can afford. Hopefully when we spend money on coins we do hope that they appreciate in value even though we are trying to complete an album or set. I love the hobby for its history and stories behind the coins (I collect mainly U.S. Commemoratives). I learned something a long time ago any collectible is only worth whatever people are willing to pay for it. There will come a time when either you sell your collection or pass it on to family or donate the collection but until that time comes I'm truly going to enjoy mine.
|
|
Pillar of the Community
5464 Posts |
Quote:
Wow I've heard many compelling arguments on this subject and I must say they all have valid points. Now I will give mine. As far as I concerned coin collecting is a hobby for me although I do purchase the best coins that I can afford. Hopefully when we spend money on coins we do hope that they appreciate in value even though we are trying to complete an album or set. I love the hobby for its history and stories behind the coins (I collect mainly U.S. Commemoratives). I learned something a long time ago any collectible is only worth whatever people are willing to pay for it. There will come a time when either you sell your collection or pass it on to family or donate the collection but until that time comes I'm truly going to enjoy mine. Ditto! |
|
Pillar of the Community
United States
1261 Posts |
Quote:
So the million dollar question is: "How do you produce an income stream from your collection without selling anything from your collection?"
Ask me in a few months, I'm in the process of executing a business plan drafted specifically to do this.
I'm really interested in hearing more about this. |
|
Pillar of the Community
7234 Posts |
Price is related to the mintage and the demand - unless it comes to them gold US Mint anniversary coins they and dealers are still trying to sell -  |
|
Pillar of the Community
5464 Posts |
Quote:
So the million dollar question is: "How do you produce an income stream from your collection without selling anything from your collection?"
Ask me in a few months, I'm in the process of executing a business plan drafted specifically to do this. Quote:
I'm really interested in hearing more about this. You and me both chesterb.  |
| |
Replies: 40 / Views: 7,435 |
First Page
Previous Page
Posted 12/03/2017 09:08 am
