I really want to start collecting again..

As usual, a Tim post turns into some discussion about something completely off the original topic. Good job Tim!

 

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That is patently incorrect. An item brings it's worth when it is sold as well as less than what it is worth and way over it's value when it it sold, depending on the circumstances. It is, however, not worth 'nothing' until someone pays for it. Just one example can prove something false. Real Estate and coins both, however, proves this statement wrong time and time again. Just because something is not for sale does not mean it has no value. There are many coins in private collections and are not at this point (and some will never be) for sale. It does not make them worth nothing.

 

Spend too much cash in this hobby? Nonsense. When I bought my first ancient coin 2 months ago, I told myself that I would only buy 2 more for the year and be done. After all, I am a person with a lot of self-control. Two months, 15 more coins, and $1,600 later, I think I finally got it under control...until I see the next coin I want.

 

I'm glad I'm not the only one. I wasn't supposed to be buying any coins in Q4. I guess in my mind no coins = 7. Or is that 8?

 

You may be proving the the original poster's point...

 

Well my first post had nothing to do with the topic, but I guess I will try again. I think having a budget in coins is a good thing. But you have to take in account of what you collect. I try to keep a budget, but with the coins I collect it can be pretty hard. One may come up at an inopportune time, and if it's a coin that meets your eye appeal and hasn't come to market in 2 or three years it can be pretty hard. I do struggle with that.

 

Make sure that you keep your collecting interests away from your bread and butter since you are a small business owner. If you buy and sell U.S. coins at your store, then collect ancients or world coins so that there isn't any temptation to keep the best pieces in your inventory for your own collection thus hurting your profitability.

 

Buying only via auction, bidding a low max, and letting the cards fall where they may is a essentially a game of chance, and if this was what you were recommending to the OP, it should've been made clear from the get go. You cannot rightfully make such generic blanket statements when, in fact, you're talking about a single narrow purchasing method that almost certainly will NOT work in the great majority of venues. In one of his many past "collecting specialties", the OP focused on, iirc, slabbed mid circ grade bust material, so let's say, only for the sake of discussion, this again was where he wished to collect. Your advice, as written, would have had him expecting dealers to sell him such material at or back of bluebook; how well do you think that would work out for him? The point here, and this is aside from the foolishness of recommending a so-called "dealer book" for a collector, shouldn't be too hard to understand.

Anyone with the most basic computer skills and the ability to read can do as you claim to, so don't put yourself on too high of a pedestal just yet.

Yeah, that's it... I'm just so jealous that I haven't quite figured out how to buy a $10-$12 book, look at it, mindlessly toss bids in on a computer, and pretend to be some slick hotshot. I do not collect, nor have I ever collected, sir; your attempted insult failed even worse than your advice. "Don't judge cuz you clearly don't know".... sound familiar?

 

Once again, a budget is a must. Find out what you really want to collect and focus there. I love everything I see, with few exceptions, so I keep a "short Iist" of top priority additions. Perhaps that will help...

 

Wait... what?

 

Buy everything you can.

 

You know the drill, you set limits and you stick to them. You are the legendary Detecto from before, right? Well, time to quit analyzing your budget and get back up on that horse.

 

He is actually, legally an Adult now, and he is engaged. He is going to have much less hobby money in his budget than ever before. His CEO salary probably doesn't even cover his room and board, assuming he gets charged for those. What 'budget' will he have without first accounting for required living expenses for two?

 

Now now Kasia, we all know that eBay and Google were started in garages. What's to say that GRTP Inc will not be the next Wal-Mart?

 

(Edited - Language)

 

Classy...

 

Ouch! Oh, ok now his thread makes more sense. I didn't even know what happened to him. Appreciate the clarification.