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Message:: [QUOTE="GDJMSP, post: 1762999, member: 112"]It's a matter of definitions. There is a huge difference between being a collector and dealer. And there is a huge difference between buying a coin to flip, and buying a coin for your collection. Do coin dealers make money ? 'Course they do, or they would go out of business in a hurry. But coin dealers are not collecting coins. By definition they buy coins with the sole intention of turning right around and selling them for a profit. Coin flippers do the same thing. That is not collecting. A coin collector buys a coin to add it to his collection. And what is a collection ? It is an assortment of items typically assembled over time, and kept for a period of time, usually a long period of time that often spans decades.  Are there collectors that have made a profit on their collections ? Sure, but for every one that made a profit there are a thousand who did not. But many try to fool themselves into thinking that they do by counting coins they bought to flip as being part of their collection. Sorry, they were not. Or they choose to recall only the individual coins they did make money on instead of the entire collection. In other words it's all too easy to remember the successes and ignore all the failures, all the mistakes. But when you are doing your accounting you have to account for everything as a whole, not just select bits and pieces. You also have to account for all of your expenses like coin supplies, grading fees, shipping and insurance, books, etc etc. It all adds up and it is all a part of the cost of each coin in your collection. The facts are simple and they are very clear, and they are summed up in a single sentence from above - for every one that made a profit there are a thousand who did not.[/QUOTE]

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