Ah the 64,000 dollar question by Hock, like me deciding to break up my collection to sell. I could have held on and made much more one day, but an items "cash value" is non existent until it is sold....
The trick these days seems to be, buy some great products whatever that may be, set on it a while, and sell for more than what you put in it. If fees and shipping does not eat up all your profit as it often does and you come out ahead, then in turn put that money back into something a bit more valuable then before....
What this may do in time is obviously build a nice net worth, but you will also have had owned all those different products/coins, bullion/collectibles, again whatever you enjoy owning as do others that has value, and that is worth a lot IMO, the experience if you will....
I saw the picker guy Mike talk a guy out of a slot machine he paid 800 for 15 years earlier. He offered 700 and pitched the ol "Well you will loose a hundred, but think of all the years of enjoyment you got out of it?", and he bought that and let it go for 700 and agreed that he had gotten 1000's of dollars worth of enjoyment out of it, and needed to liquidate his antique store, so it was a good deal for both....
Still, with all that being said, I don't like the idea of flipping my gold and silver coins. I think I will still pick some collectibles here and there when I can get an item I know is worth 500, for 300, and keep building my coin stash for many years. And you gotta hunt often to find those deals, they seem non existent in the PM world, compared to the vintage collectibles, where an items value can have a much larger value range. Where coins and bullion are pretty cut and dry, via weights, rarity, key dates, etc....
Like getting a 1/10th Platinum Eagle for 175, it does not happen often, great buy TBK....
Edited by Silverhawk74
07/15/2011 04:48 am
First Page
Posted 07/15/2011 11:23 am
