How do you justify your coin spending?

I'm looking for new/interesting ways to justify all my expenditures on coin purchases. I can't think of a better group to help me affirm what I want to hear! :devil: Sure, there's an argument that while it's part hobby, it's also part "investment", but that can be a rather soft argument given that I'm not calculating ROI, and don't intend to sell. How do you justify to yourself, or your significant other, how much you spend?

 

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I work hard for my money, so hard for my money! Well I lie a bit to the wife. I just bought a coin that set me back over 500 and told her I spent $37 on it

 

I spent all the money I have left after monthly rent, monthly grocery, and the stupid student loan - that leaves about 500-600 dollars a month for my coin collection. When the student loan gone (hopefully in the summer), I can spend a lot more for my beloved hobby!

 

I, like you, never plan on selling, but if really hard times were to ever hit I have that option.
But in reality I tell myself inside my head all the time "Dont buy any coins today, dont buy any coins today" My addiction always wins lol

 

I don't have to justify it. It's my money and I do as I please with it.

 

My mom is very skeptical, I just show her I make money while having fun doing what I love.

 

By being debt free, translating work into money, and discussing our family budget and financial plan with my wife instead of "justifying" things to her.

 

Agreed. That's also been my position. . . but I started to think . . maybe I should be adding more to 401k, IRA, more to charity. . . .BUT I've always wanted a certain double eagle . . . Damn - Infinite choices, finite dollars.

 

That's the good part I don't have to deal with anynore, I told her to hit the road along time ago. It's my money, I made it, I spend it how I see fit!

 

I only buy coins and bullion PMs for as close to spot as possible so I'm turning my worthless fiat into real money.

 

Everytime I get something new, my grandma asks me if I can spend it before I'm even done telling her what it is.

 

If you think about it. if you save all the change the family has in a month thats about $100 - $200 dollars a month. Maybe a little lower or little higher. I use this pocket change to expand my collection. We used to roll up the coins and dump it in my sons bank account. Now we just put any extra money when it comes into his account, this leaves me the change. Moneyyy. A penny saved is a penny richer.

 

I don't buy coins. I trade for them. Some times I trades 20's and 50's and 100's from my billfold, but I still consider it trading... At least that is what I tell my wife....

 

I look at all the bad habits I could be waisting money on, and then collecting coins becomes a no brainer.

 

Good for you on the first part (That's sincere, not sarcastic).
On the latter part - clarification: Not "justify" . . .not 'selling' or cajoling. Justify as in balance. Most would agree addictive spending which ruins oneself and others is bad, and the other end, the Ebinezer Scrooge approach to not rewarding/indulging oneself at all is equally unappealing. So, somewhere in between, we balance want and need. Since we seem to have a common interest, I'm wondering how others strike this balance.

 

That's exactly the approach my dad used to expand my grandfather's collection (which is now mine) - he used change, to buy coins. Sometimes, he'd by many low-value 'fillers' and sometimes he would wait months to get what he wanted - but only ever using funds from the change jars. Cool chiefpaul.

 

Sir you had a very smart dad. :yes:

 

Wow, I completely forgot all about that until your post! I recall weekends spent sorting and wrapping coins, then going to the flea market or coin shop (before ebay and coin machines) to scout our purchases. Thanks for the memory! Maybe I should lower my coin budget and donate to alzheimer's!

 

I like to think that if life comes to kick my butt, I will be glad I bought a coin I could sell instead of blowing money at Starbucks and Best Buy. More likely to bear fruit than just holding cash too, in my opinion.

 

Spend your children's & grand children's Inheritance now

Because they sure will when they get their hands on it!