Do you buy numismatics for fun or profit?

There have been more and more threads about buying coins and bullion for profit lately. So I want to run this poll to see just how many folks here collect for the fun of it versus the folks who buy because of the hot market. If you buy for both just vote for the one that you tend to do more. So do you consider your self a collector or an investor.

 

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Your thread is timely in my case. I was discussing this with a friend a couple of days ago. Because the majority of my collection has been assembled from finds out of the wild (coins and paper money errors), my money outlay has been extremely low compared to the value of the items.

I have bought a small pile of silver bullion for investment but again, that was purchased with the proceeds from my metal detecting finds. I sold a gold chain that allowed me to get a nice stack of silver when the price was a lot lower than today.

The only other items that I've bought that I paid a higher price for was U.S. error notes that I don't have ready access to here in Canada.

But, over all, I'm way ahead of the game. I didn't start collecting as a way to make money, it just worked out that way.

 

Purely for fun. If my collection gains along the way that's just an added bonus. I collect what I like and not for investment potential.

 

Ditto...

 

For the fun. Of course I do not like to pay "more than necessary" for a coin that I want. But I have never considered my coin collection to be an "investment". Would be a pretty bad one.

Christian

 

I'll echo Christian. I'm a humble collector......

 

Definitely for the fun -- I have sold enough of my coins to know it isn't for the profit. The only time I am in it for the investment potential is when I'm explaining my collection to my wife.

 

I collect and I invest. Coins I am interested in I will pay over slightly over the odds for. For investment, I prefer to buy coins I have no emotional attachment to if I see them for sale at an attractive price...

 

I collect just for fun. If my kids can make something off my collection when I'm gone, then great.

 

Im just a collector. There have been a few things ive sold for more then I paid and sometimes it's surprised me but it isnt very often.

 

I pretty much collect for fun. If I ever sell my coins in the future and make a profit, wonderful! If not no big deal.

 

For me it is more of a savings account than an investment for gains

I collect for the fun, friends, and intellegent conversation. (Like when you & I had dinner before the FUN show).

Out of the thousands of little coins in my collection, I can only think of a couple dozen that I actually purchased solely as an investment.

 

I collect coins for fun, but recently I have purchased some coins with the intent of selling them. All of which were outside of the series I am currently collecting just so I don't find a permanent home for them(made that mistake before)

 

I did not vote because I had a hard time with the false dicthotomy.
See this TED video lecture by Cameron Herold, "Raising Kids to be Entrepreneurs." How can it not be fun to make a profit?

And, conversely, is there no profit in fun? One of the few errors in Human Action by von Mises is that he did not understand psychic profit.

When you "buy" anything it is because the new thing is worth more to you than what you gave up to get it. Thus, every purchase is an improvement, a successful investment in which you turned a lower-valued entity (cash; cow; coin) into a higher valued one.

Now, the next question is, can you then "sell" that for more than you paid for it? Again, you might take a monetary "loss" in the cash journal of your home bookkeeping, but that ignores the marginal utility of the cash on hand.

(Also, I put "buy" and "sell" in quotes because all exchanges are simiulatenous buys and sells: at the petrol station, you sell dollars for gasoline. Only a shallow thinker never gets past the one-dimensional explanation that "consumers" buy from "businesses.")

Finally, numismatics is a hobby in which we all buy and sell money. Look at it: I was set up selling stock certificates, coins, etc., in front of a lecture by Andrew Bernstein of the Ayn Rand Institute. After the talk, one of the other attendees asked about a zillion dollar Zimbabwe note. I told him that I have none, and would like one, but you can't get them cheap because everyone wants one. See: this worthless money is worth more to a collector than it is on the streets of Harare.

It is the miracle of capitalism.

Mike M.

 

Both, I like collecting all sorts of coins domestic and foreign but I also buy coins for profit (mostly to be able to buy other coins). I may only have a small collection but I'm sitting on a several hundred dollars right now. I'm alright to buy coins for fun and make a small profit later on.

 

Right - I can't vote. If I see one I could make money on I will buy it - good ol' cherry picks.

 

I collect for the fun of it.......the type of coins and denomination I collect are so challenging to find. Nothing in the world like opening up a package with a Rainbow Dime in it.......They always look different from the picture provided which is what makes it soooo much fun! Finding toners locally is a lot of fun also but I dont seem to get the same rush.

 

I mainly just collect.

 

As for now... I am heavy bullion.

I am an infant concerning numismatics but I have a good dealer/numismatist who is willing to teach. Unfortunately I am too busy to go to shows or be part of a local club.

It seems that it takes years to learn all there is, so I have concentrated on a few coins that I like. When I reach my goal with bullion I'll slowly start back into collecting.

 

I collect for fun. Mostly because I LOVE history. I also view it as sort of a half-investment. If I ever needed to I could sell it but I don't intend on doing that. Thats mostly what I tell my parents lol.