Discussion in 'Coin Chat' started by Patlal, Oct 8, 2018.
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Well, you really don't have to worry, because it's an actual fact. Might you get lucky on a coin or 2 over many years?...sure, but the hits you'll take on the other majority of coins will obliterate those profits.
Coin collecting is an enjoyment for the current owner & some kind of "reward" (profit?) for heirs. As has already been suggested, "investing" is better suited for other areas.
But don't discount the "cool" factor of owning coins!
If, on the other hand, you enjoy this as a hobby, then you are getting something more than simply investment return on it. Nevertheless, you do owe it to yourself to do some due diligence with regard to the things you are buying and alternatives that exist to direct mint sales that you may enjoy more and may be a better deal.
Actually Capital Gains tax of 28% $728
Keep track of the time you put into the hobby.
Report the time on your taxes.
At $75.00 an hour you'd be taking a loss.
...yet they're available to tax you should your hobby make money.
I think I see how this works.
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