Paying for you coin hobby?

It was different for me after I entered the regular work force. I was working at the factory 48 hours a week, mowing 11 lawns and a cemetary and on the weekends, pumping gas, cleaning a Friendly's eatery and cleaning bath houses at a local camp. I forced myself to make the extra money to pursue my hobby.

 

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I'm tired just reading that

 

No need to be. That was probably 60 years ago.

 

And my hips and worn out knees are a testament to all that hard work.

 

LOL, no, actually 43 years ago.

 

All I have to add is to make sure you are out of debt and have all your bills paid before you buy coins. If those two are not met then stick to Coin Roll Hunting. I have to pay for a wedding ring and most of a wedding and honey moon. Because of that my budget for coins is about $50.00 a month right now. Fortunately I am collecting Eisenhower dollars and those don't cost much!

 

Any where ebay, Facebook groups etc..... Again this was just the idea I had may not be the greatest but just what came to mind.

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Just a buyer here. My dough comes from old fashioned labor. I've never sold any coins.

 

My plan is very simple. Work and stay single and buy whatever you want when you want.

Unfortunately for my collecting, I am no longer single. Now my money is going towards things like fancy dinners and camping lol.

 

I keep my spending lower by trying to only buy things I think I will really enjoy for years to come. That took some learning and experimentation, along with some money wasting, of course, but I eventually learned that buying every third coin I see didn't do much for me. If I forgot that I even owned a particular coin I considered that not one of the "treasured." So I try to keep my buying to a minimum and I really try not to buy coins that I'll just turn around and sell.

 

I can empathize with no longer being single and having a lot less for coins.

 

What's sad is that im spending more on her than I did on coins lol

 

Pretty sure that's how it's supposed to go

 

A noble plan, and one that is always doomed to failure. Wimmen..........ya can't live with them, and ya can't live without 'em.

 

The money I spent on the ring has been paying compound interest for over 25 years.

 

No, no... that's just what they want us to think.

 

My strategy, after about 5 years of collecting was 2 go buy a cheap showcase and set up at the flea market. Where did i get the coins 2 sell? (U might ask) I pretty much weeded out all the problem coins and other dreck from my collection that i no longer wanted. A few years have gone by, and NOW that i know what sells in my local market i go 2 coin shows and pick up items to flip. This CAN be a very effective strategy for extra income !
If i have the right items, i can go 2 the flea market and make $500-$750 on the weekend. I try 2 set up the same weekend of the local coin show. Then i can spend, say $250 on new inventory and have $500+/- for a new coin(s) for my collection. Times are tough, and if u dont have some sort of a side hustle it can be painstakingly hard 2 afford nice coins.

 

I usually don't buy "nice" coins, but I sometimes buy "interesting" coins.

 

I scrap lots of wire. I also sell new/used electronic parts on the bay. Scrapping wire pays for coins outside E-Bay and the e-parts gig pays for coins on E-Bay.

 

I just give myself a monthly budget and stick to it. The money that I put towards coins is enough to buy coins I enjoy but is a small enough percentage of my income that I can afford to lose it and bills savings and 401k always come first. Sometimes I'll splurge a bit when I get a bonus at work but otherwise it's just a fixed monthly amount.