Although I have several completed and up to date sets, at times when I am waiting to purchase a certain coin to up grade or add to my existing set. I see a coin that I do not collect but it looks good and I do not already have one so I purchase it and when the coin I was looking for in the first place comes up I am unable to purchase it because I have used up my coin budget for that month and may never see that coin again in that grade. This haphazardly buying of coins from time to time has cost me the chance to get the coins I really wanted because of impulse buying. Am I the only one that loses focus and gets lost out there just trying fill the need for the love of coins. My main goal this year was to finish my 7070 set and find as many different foreign coins from around the world with my birth year of 1947. However because it is going so slow I start this impulse buying, any opinions or solutions for this problem. BRUCE.
Unless you only have a year to live, and your ultimate goal before you die is to finish the 7070, I don't see what the problem is. In other words, either stop eating so much and get off the couch and exercise, or be content with your fatness and don't complain about it I think we all do what you describe. I have an uncomplete 7070 as well, and naturally I'd like to complete it but get distracted by this or that. I've probably spent more in one day last week than it would have taken to find acceptable examples to fill all the spots and finish the dang thing (and create another whole 7070 book, heh). What's left are some of the more expensive ones and/or ones that I need to fill for the sake of filling holes. Maybe that's your problem too? For example I need a 1909 VDS, and quite honestly spending more than $0.50 to get one really irks me, as it's not something I'd even care about if it was not for... "the hole." Sure, it's a type coin, but as far as I'm concerned wheat and memorial would have cut it. Plus it doesn't have spots for some of the early types I have such as my 1794 1c Liberty Cap Large Cent. I know, it skips some of the more expensive ones (flowing hair anything), but if you have spots for two of the Seated Liberty Silver Dollars (No Motto1840-65 and Motto 1866-73) then there's no reason not to include one you could pick up for $100-$300.
Join the gang brother...join the gang!! :bow: I have had to have auto withdrawal from my checking account into the brokerage account to stop that very thing. Now when I go to the checking account (ATM) card..well it is rather dry if you know what I mean...just makes me want to write a check against the brokerage account!!!! :eat: :eat: I think I have an addiction to yella metal... RickieB
Sounds very familiar.I'm in the same boat as you guys. I see something at the dealers or whatever that catches my eye, and it ends up coming home, killing the budget for something that's needed. Maybe someone will come along with an answer.
Hey Bruce your not alone by a long shot. I often ask myself why I can't seem to have a few hundred dollars on hand at all times inorder to purchase some of the coins that I desire, no greatly desire. Coins such as the Oregon Trail Comm., 1917 SLQ type I BU, 53-52 proof sets, BU Walkers, BU Mercs., and the list goes on. My problem, as might be yours, is that if I see some coins that are priced right (more then fair) I got to have them, eventhough I already have many like it. I only say this because I have many many late 50's and early 60's proof sets (silver), but I buy everyone I can get if the price is right. It's hard to control my collect addiction, but I'm getting better. You can try what I am doing now and that is first I stay off of e-bay. Then when I go to my dealer's shops I don't browze, I get what I came for and leave. My main plan is to save money at least a thousand to take to shows a couple times a year and try and get the best deals there. The FUN show is on my list. GOOD LUCK, I sincerely mean that. It is so much fun try and get "all" those beauties out there!!!!!
I haphazardly buy early washington quarters. It's the series I like the most, and i try to mostly collect quarters from the 30's and 40's. However, instead of saving up and buying nice PCGS certified examples, i buy worn down circulated examples. I guess it's because I like to think of where a worn 1940-D quarter has been and who has used it vs one thatt spent it's entire life in a roll. I do have a few MS65 examples, but i think i'm more into the cheap circs. How can you not when you get them for about the cost of melt. WHo knows maybe after i buy one of each cheap raw circ example from 32-64 (especially 32-49) then i'll get back to buying nice MS certified quarters. But when i get bored, i browse Ebay for the worn examples i am missing. I just got a nice '40-D that would probably grade a Poor and is barely legible, but it was instantly one of my favorite quarters.
No, your impulse buying is not unusual in my experience. As a younger person who is a graduate student, I have a smaller coin budget than many collectors. Although I am currently working on completing a number of sets, I often get distracted by any coin that just seems to be too good of a deal. For example, I have purchased three 1878-S uncirculated Morgan dollars recently because they were just priced too low for their grades. I often tell myself that I will sell the doubles I purchase cheaply to add money to my coin fund, but I have a difficult time parting with even the doubles in my collection. Therefore my sets remain neglected at times, in favor of completely random coins. I think this problem is common in the collecting community......at least it is for me.
This is where my binge buying pays off. I often find silver round and ASE at bargin prices. I neither wnt them or need them but I get such a good price I buy them. Now if I happen to see that coin I really want I just sell my bargain reserve. Later on I buy what I used up to replace my binge stock. It's come in handy more than a few time. Now it won't work if you are a silver nut. armyretired91
i have the same problem with alot of things not only coins,the only thing that works for me is to run amuck with my wants which makes me happy and that makes me work harder and longer, so that i can pay for the things that make me happy! it's a vicious cycle, but i'm happy........ did'nt do a spell check,hope it's correct...........
It happens to everyone---I'm trying to learn to cut back and not do it as much....and save money for better coins---not that I'm buying junk coins or such... I'm also thinking about selling almost all of my collection and try to work only on a few sets at a time...and try to get down to not buying so many odds and ends. Speedy
Speedy my friend that is what I was looking for "ODDS AND ENDS" that I do not need ,you hit the nail on the head my young friend three words that say so much. BRUCE"THE FRANK GROUP"
It took me several years to stop impulse buying, and boy did it pay off. Since then I have managed to get key coin after key coin for my collection.
Pretty much any buy of mine is impules---I mean even if I'm saving for a harder to find coin I have 5 or 6 that I would like to get and all of them are in the price range--so I watch for all of them---and after looking for a few weeks at as many as I can in many grades I try to limit it to one or two---then I go after those pretty hard---when I find one I like I go back and grade and re-grade it myself---and then check ended auctions...POP reports and the like---and then if all things look good then I bid! Speedy
Bruce: Okay, lets see, random buying, binge buying, having unprotected purchasing with various type coins. It sounds like we all need a special 12 step program................ Nah, I gotta get dressed, there's a coin show today. :thumb:
Heck, haphazardly is the only way I buy my coins. In over 20+ years, I have never tried to assemble a set of anything. I started and continue my collecting by never going to a show to buy any coin in particular. I went and whatever caught my eye that day is what I added to my collection. I just can't pass up a gem or a bargain. Coin budget? Is there such a thing? If I had a budget, I would go over it every time I go to a coin show!!!
