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<p>[QUOTE=&quot;Andrew McCabe, post: 3704878, member: 90666&quot;]This thought comes up regularly on coin chat groups I&#039;ve attended over the last 20 years ago. It&#039;s mostly not true. I have been collecting Roman coins for 35 years and in my experience, most buyers of $500 coins are accountants or engineers, possibly dentists, sometimes army veterans, IT specialists, real estate lawyers and such like. 90% of the volume of &quot;high end coins&quot; are bought by modestly paid people in ordinary common professions, mostly waged employees. I&#039;m a retired engineer for example, living on an income around the US/EU median, so am a 50 percenter, not a 1 percenter. Yes $600 is a lot of money, but it&#039;s the time and dedication that gets you there. If you work in accountancy and have been collecting for three decades and put aside 10-20% of your monthly for that purpose, and sometimes sell coins you bought 20 years ago to fund new coins, then you will have amassed a six-figure value collection and should be able to cautiously continue to add $500 or even $1000 coins from time to time. I am extremely cost conscious, yet sometimes I miss the chance to buy a coin when cheap, and later pay a lot more than I would like. Still, in doing so for example when buying from a retail dealer who bought a coin cheap, I&#039;ll try and pare back every dollar I can, and look for payment terms, discounts for bank transfer and so on, and will often walk away (have often walked away) from a coin that was 5 to 10% more than I was willing to pay.</p><p><br /></p><p>There are some well off people buying $1000 coins. But most coins at that admittedly high price level are bought by guys on a $5000 monthly net (which is BELOW the US median income) who are just very careful, and are in it for the very long term, selling as well as buying.[/QUOTE]</p><p><br /></p>

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