Done collecting.

I don't think you should quit, taking a break might be a good idea. In the meantime just because you're not buying coins doesn't mean you have to be stagnant. Get a few book on coins and read them. Educating yourself on coins and other coin related matters would lead you to be a better collector when you're ready to come back.

 

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I gotta agree. I've seen a number of people think they had to quit and sell their entire collections only to find out they didn't have to after all. Hopefully things turn around for you Detecto. :thumb:

 

Detecto... I see you have a few lots for sale here. I had the impression you had a lot of stuff. edited Hope things work out.

 

Unload the coins, pay the bills, get back on your feet. Everything is replaceable. When you come right down to it, it's just stuff.

If I lost everything tomorrow, I know that with the knowledge I have I could have a pocket full of cash by the end of the day (legally). You have to be hungry enough and creative enough and have the drive to make it happen.

Been there, done that. (more than once).

 

Sounds to me like a mishandling of funds, not keeping an equal balance of "pay your bills" money, emergency stash, savings and retirement and entertainment money (entertainment being hobby money as well).

Either a life change just happened or Detecto was spending too much on coins instead of what I said above.

Either way, good luck in sorting it all out.

 

sorry to hear that. this might help. 50/30/20 budget


good luck.

 

"Relax said night man, we are programmed
to receive [collect] you can check out anytime you like but you can never leave."
Eagles Hotel California.

 

Forget that model plan. I'd say 50% goes towards bills (minus credit card payments since I keep zero balances on mine). 40% goes towards savings, emergency funds, retirement, etc and then 10% is for entertainment, hobbies, vacations, etc. I try to tuck more away, I don't want to work until I'm 90, I want to try and retire when the kids are going off to college, travel while I still can, etc. 20% don't cut it for me.

 

Detecto, coin collecting isn't necessarily about owning coins man. Look at Doug here. One of the most knowledgable collectors here and doesn't own a coin.

Coin collecting is about KNOWLEDGE. Once you gain it you don't lose it. Coin Talk is about sharing knowledge and gaining friendships, so even if you do not own a single coin you are still a coin collector as long as you have a desire to gain knowledge about them, and still are a friend here as long as you wish to participate.

I am sure things will work out for you man.

Chris

 

Yes, just what this board needs. More people who don't collect coins, but "know" everything there is to know about it.

Detecto I echo what others have said -- continue to learn and make comments where you feel you can contribute. I know you have gotten a lot of flak here, but most of us are genuinely trying to help you. It is good to reassess why you are collecting what you collect, and whether this hobby is really for you. We all have ups and down...

All the best.

 

The budget wasn't intended for you. its just a sample budget for young bucks like Detecto. when I was young, most of my money went towards beer. Ha

 

You need to do what you need to do. Coins are just things. I know thinking about it now I couldn't imagine having to sell my collection, but if it meant maintaining a roof over my head and food on the table, I wouldn't think twice about it. There will be coins to collect later. I know you take a lot of flak here and it always seems to stem from your enthusiasm. Don't lose that, no matter what others say.
Guy

 

Well said sir. Detecto, I know you are enthusiastic, and see many things in black and white. Unfortunately the world is grey, something that will get beat into you as you get older. However, we love your enthusiasm and genuinely believe it added to CT, even though you took a lot more flack for it than most would have.

Here is to you getting things straightened out financially, and remaining a member of CT. Remember, there is always roll searching to fund your hobby at face value as well. Always an option when purchasing coins seems to be a ways off.

Edit: Another thing to think about Detecto is your public library. I would check out what books they have on coins. If nothing interests you, don't forget interlibrary loan. most libraries can get about any book on loan. Use this time to read and learn more about coins. Its free, and a great way to keep in touch with the hobby as well as setting yourself up for success when you have funds again to buy coins. Heck, even check out books by Bowers ABOUT coin collecting stories, Frank Robinson wrote one too, they are great reading.

 

Detecto you are on my friends list. Hope you stay there. As medoraman touched on, you don't have to own a single coin to gain knowledge about them. I have been down to very few to no coins aside form my Jeffersons on a couple of occasions.
I pieced out a type set, sold a beautiful near complete LWC, had tubes of ASE and sold them at the worst possible time in silver bullion prices. I recall having a 1975 CC 20 cent pc. in F/VF and sold that in the middle 80's and had a page and a half of XF and better seated halves and all that is gone. I had to do it, can't change that.
Since then I got back into it and have got to the point I should sell again but I learned a bit more about what I should not sell this time around. You have to do what you have to do.
My lessons learned were = keep the best and sell the rest. Also sell them when they're hot and buy em when they're not.

 

I am new to coin collecting. If your looking for a newbie look no further I need all the help I can get.

 

This stinks like last weeks laundry, I hate to see a fellow collector hang up his shorts. I've been in your situation years ago, and the one piece of advice I can give you is to not forget about the hobby. Once you get your finances in order, consider setting a financial budget for all the extras beyond bills and rent. This way you know how much to spend on coins/hobby.

I see your situation as a short term thing, we'll see you in a few months

 

wife left , new boyfriend. let me keep collection, but must liquidate. saved $100 total for retirement. 53 yrs old, climb trees for a living, 2 kids. i will be broke this winter when work stops.
edit - 73 riv is gone, worth 7grand, sold for 3300.

 

I know, I just wanted to elaborate that young people should save more, start a retirement plan early so you're not dependent on government checks when you turn 80 while greeting people at Wal-Mart just to pay your pills, err, I meant bills.

 

Really sorry to hear it sir. Divorce can be rough, I went through that a few years ago as well.