Funding the Ole coin budget....

I think I more than admitted it with my smilies, lol. Just one of those things.

Phoenix

 

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Howdy Rickie,

SemperFi.

I'm still working full time and though wifey is formally retired, she's working part time. My job gives me enough funds to buy the mint issue non-gold stuff and several times a year to buy a few coins. I always buy my roll of ASE in January, etc. In recent years, my birthday and christmas lists are mostly coins.

Recently I sold some duplicate mint issue stuff (proof and mint sets, commems, etc.) and used the proceeds to buy some additional coins.

Right now I'm about 1-2 years from retirement (I'm fully pension eligible so it's a matter of when they sufficiently p*ss me off). At that point I'll have a pension, a 457, 401 and an IRA. I'm planning to take part of this money and buy a lot up north - probably won't build but should be a good investment AND certified high end coins - keys in my chosen series in high gread PCGS. Not highest grade, mind you, just high grade.

I was reading recently that old rothschild said you should divide your wealth into 3 equal portions between securities, real estate and fine art. Well, I don't know much about fine art, but do know a little about coins. I don't know that I'll get to 33/33/33, but right now I'm heavy securities.

oooh rah,

rono

 

What is this word "budget" you speak of?

 

Sometimes I purchase coins that I am not really interested in if I can make a little money on them to finance my coin budget for coins that I really am interested in keeping.

 

That's something that those of us ignored by Forbes in its annual listing of billionaires have to worry about.

 

Howdy everyone...
Thanks for some great replys....it is interesting to hear what you do for allocation.
I recently read in Coin World of a guy who bought 300 set's of the platinum "W" eagles...took them to the FUN show and sold them for a tidy 100K profit!!! Not bad for a few days work huh? :thumb:

RickieB

 

Well lets see----
I mow lawns.....a work for my Bro-in-law some in his Computer business, I work for a local Funeal Home, and I also sometimes help a guy clean up some of his houses that he rents....he has over 70 houses.
And that is how I fund the ole Coin Budget!
Next month of Turkey Season so all of this will be pushed to the back for about a week and I'll be hunting with the local Sheriff!

Speedy

 

Well, the bank in town has been robbed twice in the last year, and they've never caught the guy .... :whistle:

Seriously, I spend at least a segment of money that's "outside" the budget. You know, birthday, Christmas, etc. Wife insists we must clothe the children, but I'm not so sure.

 

I use whatever money I can get to buy coins. I sometimes trade, to get a coin I really like. This summer I might be making more money, I will try to mow lawns, wash cars, etc. Whatever I can do.

Phoenix

 

Thalia Elizabeth gets an allowance every other week (when I get paid, the kids get "paid") and saves it for whatever she wants. I think she's saving for gold coins...

With two growing children, my Multiple Competing Priority of hobbies often loses out to those "non-essentials" like food, shelter, college funds... although who's to say that the latter can't be fractionally in numismatics, right?