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Buying extremely valuable coins... a good investment?
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<p>[QUOTE="Lehigh96, post: 1461629, member: 15309"]That is not an accurate representation of what happened. I lost money on the coins that I sold through Heritage, about 10% of $40K because I was rash and sold quickly. I have recovered over $3K of that through my E-Bay store which has been profitable over the first 5 months of the year. The small loss that I incurred had absolutely nothing to do with lack of knowledge as you would like the readers of this thread to believe.</p><p><br /></p><p>My point was that if you need to liquidate coin "investments" quickly, you will be in a position where you will probably have to take a loss. If you are able to remain patient and don't need the money right away, it is very possible to wait for the right buyer for each coin to maximize your returns.</p><p><br /></p><p>Furthermore, your point that all hobby money should be able to be flushed down the toilet is completely unrealistic. Not everyone makes the amount of money that you do which enables you to sustain your lifestyle, invest 5X the amount you spend on coins each year, and still spend thousands of dollars of completely disposable income on coins every year. And BTW, I lost far more money in stocks and real estate over the last 5 years than I did in coins. The fear mongering that seems to be associated with coins as investments is really over the top IMO.[/QUOTE]</p><p><br /></p>
[QUOTE="Lehigh96, post: 1461629, member: 15309"]That is not an accurate representation of what happened. I lost money on the coins that I sold through Heritage, about 10% of $40K because I was rash and sold quickly. I have recovered over $3K of that through my E-Bay store which has been profitable over the first 5 months of the year. The small loss that I incurred had absolutely nothing to do with lack of knowledge as you would like the readers of this thread to believe. My point was that if you need to liquidate coin "investments" quickly, you will be in a position where you will probably have to take a loss. If you are able to remain patient and don't need the money right away, it is very possible to wait for the right buyer for each coin to maximize your returns. Furthermore, your point that all hobby money should be able to be flushed down the toilet is completely unrealistic. Not everyone makes the amount of money that you do which enables you to sustain your lifestyle, invest 5X the amount you spend on coins each year, and still spend thousands of dollars of completely disposable income on coins every year. And BTW, I lost far more money in stocks and real estate over the last 5 years than I did in coins. The fear mongering that seems to be associated with coins as investments is really over the top IMO.[/QUOTE]
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