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<p>[QUOTE=&quot;umtrr-author, post: 160769, member: 5719&quot;]I don&#039;t want to steer this discussion off course, but in terms of the sales tax on coins in NY, you are, legally speaking, <i>supposed</i> to pay the equivalent of the tax if you get anything outside the state and bring it in.&nbsp; It&#039;s a &quot;use tax&quot; and it&#039;s Line 56 on your annual income tax form.&nbsp; No further comment on that (off) topic.</p><p><br /></p><p>Now, to the main question.&nbsp; I am not at the point where anything I&#039;ve bought would be considered to be &quot;investment grade&quot;-- the mintages are way too high and therefore the items are way too common.&nbsp; I actually look at getting zero back from the vast majority of what I/we own.&nbsp; That&#039;s not yet the point of the hobby right now for us (by us I mean myself, and our six year old daughter).</p><p><br /></p><p>Were I to get to the level of buying really &quot;collectible&quot; coins (not that all coins aren&#039;t collectible!) I would really, really, <b>really</b> prefer to see them.&nbsp; I want to be able to hold the coin and take a good look at it.&nbsp; I&#039;ll get a reasonable price and I am confident that it won&#039;t be overgraded.&nbsp;&nbsp; And I am quite sure that the local dealer won&#039;t pressure me into buying it.&nbsp;&nbsp; I have gotten plenty of advice on my 20th Century Type Set including counsel that in fact my 1904-O Morgan is better than I think it is and that I really don&#039;t have to hurry to upgrade it.&nbsp; Furthermore, the store is established and has been in business for years.&nbsp; I expect it&#039;ll be around for a while as well.&nbsp;&nbsp; And the store supports the hobby in general and young collectors in particular, i.e. the ones who will be around to buy the coins when it&#039;s time for us to sell them.&nbsp; When it is time to move to the next level, I expect that I will be in that dealer&#039;s shop.&nbsp; </p><p><br /></p><p>What does this do to the investment potential of the coin?&nbsp; Well, since I know I&#039;m going to pay another x percent on top of the purchase price, it will necessarily be that much longer to wait before I can turn a profit.&nbsp; That&#039;s over and above the &quot;instant discount&quot; in value it will take once I take the coin out of the store, meaning the spread between sell and buy prices.&nbsp;&nbsp; For now, that&#039;s not a problem for me since I don&#039;t really regard the hobby as an investment vehicle, even if I were to suddenly turn away from the low end coins and toward the multi-digitally priced items.[/QUOTE]</p><p><br /></p>

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