Coin Investment Club [was make money fast]

Interpretation is up to you and the owner, Peter...
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Peter T Davis

 

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Get the knots out of your underwear!

WOW!!!!

Clembo has been a bad dog it appears for actually even considering such an idea.

Tons of lines to read between here folks.

For starters Ruben's first thread was "I need to make a lot of money fast". Many people gave advice as to how to do this although most thought no way. Reread it and you'll see that I had some VERY sarcastic comments in that thread. I couldn't see it happening even called it ridiculous.

Still, many people did give advice/opinions on the matter. I guess it was done for free so it's not "illegal" EVEN on a coin forum and there were suggestions that had ABSOLUTELY NOTHING TO DO WITH COINS.

Has anyone ABSOLUTELY commited to this idea? I know I haven't - just thought it would be interesting to see what a little "buying power" might do. It's an INTERESTING idea that is open for discussion and, YES, it does involve coins.
I would be willing to lose a few bucks just to try it.

Merril Lynch etc.? Hey, we weren't talking about cornering a market here. Just a few "friends" pooling a little money at their OWN risk.

I see threads here all of the time about "how should I invest X amount of dollars". Don't see the backlash that I've seen here though but I do see a lot of suggestions.

I still have never considered myself an "investor" but I'm not an idiot either. I love my type coins especially and go out of my way to buy "sleepers" that I can first enjoy and then someday sell to someone that enjoys them like I do (I hope). I have no intentions of leaving my coins to anyone or being buried with them.

SHOULD I decide to get into such a venture rest assured I will do it privately with other individuals. I'm not looking into shutting down CT. I LIKE CT!


clembo

 

I was a little bit of a sly dog with regard to this. There just seems to be on this board waves of "investment schemes" and make money fast questions which sour me. I agree with you, I am a collector first, and money to be made doing this is besides the point.

Mulling it opver for several days (or weeks), i thought to myself that it might actually be interesting to run this experiment and see if a few bucks can be made if one invests. But I'm not interested in throwing $5000 into coins based on someones hairbrained idea of what might move up in the market. I would be willing to put a few dollars a month into an investment portfolio, maybe $50 bucks a month, if I was going to learn more about coins, and the process of evaluating them in terms of investment. So a nice small group, with no more than say 20 people, putting money together and meeting on line every month to evaluate suggested purchases and sales would be a worthwhile use of my time even if we never made a cent, or even lost money.

I guess it is a little like horse racing. The game is that much more interesting with a 2 dollar bet.

That being said, I went out and posted the first thread. You can accuse me of trolling a bit, but I asure you that it was ment in good fun. I was suprised with the exent that it got attention, but obviously a lot of people are interested in the financial aspect of coin colllecting (either that or they care deeply about my poverty). It does bother me how spamlike these threads get. Every brother and sistah on this board thinks of themselves as some kind of investment banker.

But the means to uplifting the quality of discussion and information on cointalk with regard to the financial aspects of coin collecting is best overcome with education and experience. I believe in education, and I believe in power of learning by doing. So the idea of an investment club came to mind. Business students do this all the time. They play games and invest in real markets in order to learn how markets work and how to invest. So I believe that an investment club can benifit the coin talk membership in a big way. It should be a huge educational tool and a great deal of fun. Hopefully, if we get something off the ground, it will be in ***this *** spirit. If you want to invest in coins for your retirement, there are IRA's backed in gold. But if your interested in this as an adventure with some financial risk, I'd be interested in starting something.

Ruben

 

I think the purspose would be to see if a few guys can actually get together and make a few bucks in the real market place with coins. I blow $50 at the movies with the kids. That's not much incentive. But learning from the game and strengthening the bonds among firends is worth my time.

Ruben

 

I ain't scared to lose fifty bucks...

 

yup.
even if we sold it for less than what we paid, we wouldnt lose ALL 50$.

 

elaine: I hope that this helps:


Massapequa Coin Club Inc
Meeting Location
VFW Post 7277
191 Veterans Blvd
Massapequa , NY 11758

Meeting Times
2nd Thurs 7:30 p.m.

Specialties*
Paper Money
Tokens, Medals, Chips or Cards
U.S.

Club Contact
Tony Zito
PO Box 56
Massapequa Park , NY 11762-0056
Phone: (631) 206-3073
Club Representative
Alan Sadwin
2873 Bayview Avenue
Wantagh , NY 11793-4311
Phone: (516) 785-6971
E-mail: asadwin@verizon.net

 

Ther eis also this one, but they seem kind of exclusive:

New York Numismatic Club
Meeting Location
New York City
New York City , NY

Meeting Times
By invitation only

Specialties*
No information is provided.

Club Contact
Robert W Hoge
96 Fulton St
New York , NY 10038-2810
E-mail: hoge@numismatics.org
Club Representative
Robert W Hoge
96 Fulton St
New York , NY 10038-2810
E-mail: hoge@numismatics.org
E-mail: hoge@numismatics.org

 

Ruben.......count me in. Where do I send the $50.00? Thanks for a great idea.

swick

 

we're still figuring it out

 

Normally I am a "Coins are not a good investment" type of person, but I do find this coin investment club idea interesting. I do think that are a LOT f potential questions and problems that have not been discussed or considered here yet, but I think I maybe interested in the group. On the other hand I do feel that this forum may not be the proper plac e for the discussion, or at least not the US coin forum. This either needs its own forum here (Possibly a private opt-in forum if the software here supports that), or it needs to move off this site to one of its own.

Some have said that they don't mind risking $50. SOmething they need to consider is that in order for this to truly work well we are not taking about a one time $50 contribution. We would be talking $50 per month. Think about it. Ten people with just $50 each and you have $500. You are not going to be able to do much with that. But at $50 month in one year the club has $6000 to work with. After two years $12,000. If we get 20 mebers double those figures. But is something goes wrong your exposure is a lot more than $50. Just remember that.

Other things that need to be discussed. Who makes the purchases? Where are the coins and the club funds stored? If a coin is sold how are the proceeds distributed? Especially if not all of the members join at the same time. Is it a collective club where all have claim to all coins even if they were purcahsed before they joined? or do you only have a right to claim profits from coins purchased after you joined? Are any of the members dealers? We may have to be careful about a conflict of interest problem. On the other hand having a dealer or two onboard may give the rest of us a better understanding of the problems of markups an or buyer/seller premiums if we get large enouh that some of the clubs properties are marketed via auction.

The idea of doing this just on paper for awhile as a theoretical exercise has its merit. But it would be time consuming and I doubt that many embers would be willing to put u with the delay. Another problem with the paper version is that it makes it more difficult to factor in things ike mark ups or dealers buying back of the sheet price etc.

Like I said I'm interested, let's talk.

 

I'm interested in flesh this out, but I just haven't had time. In a week or so I might have an initial proposal worked out and I'll post it.

This is like any other organization I've ever started. It needs a strong written charter so everyone knows what is going in, some frank discussion, and if this is to remain fun, then it will be necessary to make sure our bets are appropriate.

Ruben