Have You Considered Getting Out?

Discussion in 'Coin Chat' started by Catbert, Jun 22, 2010.

  1. Catbert

    Catbert Evil Cat

    Have you ever thought of just selling it all? Maybe keep 5 or less favorite pieces that are top quality?

    I'm tempted, frankly, given what I feel.........insecurity about the economy, a nagging worry, a desire to hunker down. After all, what I have can be replaced and perhaps for even less assuming the market goes to hell (more that it has already). On the other hand, the coin show reports seem average to good. Maybe we are on the cusp of better times rather than a cliff.

    Anyone else feeling this way or who has acted on the same instinct to run for the hills?:confused:
     
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  3. coleguy

    coleguy Coin Collector

    Not me. Collecting gives me something relaxing to do when I do have a little free time. I use disposable income so it doesn't effect finances. If I ever did give it up I'm sure it would just be replaced by some other hobby that costs money and takes time.
    Guy~
     
  4. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    From a limited experience point of view on coins and not so limited on other collectibles, nice or higher end items will always command a premium. If you have really nice things, keeping them is not a bad idea. Especially the really nice and more rare.
     
  5. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    Aside from guzzling down a Coke after a hard day, I found that collecting coins is very relaxing. I enjoy the thrill of finding a deal, and looking everywhere for something. I like turning profits and getting coins that are even more beautiful than what I had before.
    I just love coin collecting, and hopefully I'll never have to stop, I'm going into my third year now and couldn't be happier. I've come such a long way, I don't want it all to end now, ya' know.
    I'd rather keep the thought of the economy and what will happen to this world on the back burner for now, and just try to focus on living the best life I can and be the best coin collector that I can.
     
  6. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Guy makes a valid point. Me? I'd just waste it all on booze and women. I'm joking of course. My wife would kill me....:smile

    Still, Cat, I've been toying with the idea of liquidating a certain quantity of my collection and putting it into another phase of the hobby. More specifically, classic commems. I'm not sure if that's going to make my collection any more valuable but I'm sure as heck gonna have some fun......and that's what the (this) hobby is all about. :)
     
  7. NewToCoins2010

    NewToCoins2010 Started 05/2010

    I just started, so no, but someone just dumped their collection in a box of halves I just opened... 23 Franklins, 5 Walking Liberties, and a Silver Kennedy!
     
  8. kanga

    kanga 65 Year Collector Supporter

    I REALLY enjoy collecting coins.
    And as far as hobbies go it appears to be one of the strongest.
    I've decided that unless I need the money I'm going to die with my collection intact.
    My numismatic interests are pure pleasure.

    I've probably bought one stamp in the last several years.
    Philatelics is a hobby that has really stagnated.
     
  9. Phil Ham

    Phil Ham Hamster

    I will stop collecting coins about the same time as I stop playing Texas Hold'em. Ok, it isn't happening.
     
  10. Vess1

    Vess1 CT SP VIP

    I completely understand where you're coming from. The economy has been bad for so long, nobody knows where we're headed. I just don't know where or what you intend to run to. Would the pile of extra cash sitting in the bank really make you feel better than your collections does? If so, do it. I don't have any faith left in the U.S. dollar personally but other people must know and understand more than I do.

    Unless you were going to dump it all into bullion, I don't know what there is to run to. The stock market? lol There is definitely mass confusion. The economy has been deteriorating for a decade. When does it end?

    Really don't know what to tell you and couldn't blame you for whatever you decide.

    As for me thinking about it? Nah. I've thought about selling a few for a toy here and there but never could get around to doing it. Just don't want to regret getting rid of something. I only buy stuff I really like so it's hard.

    If things really get bad, the decision probably won't matter either way.
     
  11. Fifty

    Fifty Master Roll Searcher

    Except for the storage and space constraints I really like my coins and don't want to part with them.
     
  12. richarrb

    richarrb Junior Member

    I am only about 5months into collecting and I agree with a majority of the previous replies. This is relaxing and I enjoy the hunt of a coin and a great deal and the satisfaction of completing a task. However, I would sell my coins in a hearbeat if I truly needed the money for something serious for example a medical emergency, morgage payment, etc. The only problem is I don't have that many rare or expensive coins atm LOL>
     
  13. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Get a few years under your belt and you will be amazed at what you have acquired. :smile
     
  14. onecoinpony

    onecoinpony Member

    If you want out completely you don't hold ANY coins. Then you're not as tempted to check out coins.

    If you hold some, you will watch how they compare to others, and then, oh my, there's a nicer one you gotta have.

    You're either in or your out. At least that's how it is for me.
     
  15. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Yes indeed. The "collector guy" in you will never allow you to walk away....
     
  16. Never. My hobbies help me keep my sanity. Just sitting around doing nothing 24/7 is not a great idea.

    I just wish I had discovered this hobby when I actually had money to spend on hobbies!
     
  17. Hunt1

    Hunt1 Active Member

    Although i dont have a big collection, my coins to me are like a prized collection of history and i dont feel that the economey should influence my decision regardless of what they are worth. If they are authentic to that time period, and in good condition they're staying right with me.

    Incase someone offers a good price ;)

    But ill be willing to bet everyone here has a bigger collection than i do.
     
  18. CamaroDMD

    CamaroDMD [Insert Clever Title]

    The thought of "getting out" has crossed my mind. It has nothing to do with the economy or anything, I have just become less interested over the last year or so and other things have taken its place. I have kind of put my collecting on the back burner and I'm fine with that. I don't know if it's a temporary thing or permanent. I know when/if I do decide to collect wholeheartedly again, I will do so with new goals and probably a much narrow interest.
     
  19. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    I have an investment part of my collection that will probably be sold someday. I also have coins that are very special in a variety of ways and will be passed on to my kids. I like the thrill of the hunt and purchase of the occasional special addition to the collection.
     
  20. robbudo

    robbudo Indian Error Collector

    I've been buying much more than usual over the past 2 years, and i've primarily bought things, in my opinion, from people in your shoes who are looking to sell their coin collections they've taken years to put together in order to make ends meet.

    I've been paying about 25% less than they would have sold for 3 or 4 years ago. If you truly have valuable coins, it doesn't matter if you sell them now or wait until you need to pay the bills; they'll sell no matter what. In my opinion, the longer you can hold out, the more the economy will recover and the more you'll get.

    If you're talking about parring down your collection, getting rid of duplicates or coins that no longer have a place in your collection, well that is part of collecting coins and anytime is a good time for that.

    just my two cents ...
     
  21. wunderer

    wunderer tink

    I was never a collector. I was an apprentice in the late 60's and supplemented my income buying, finding and selling coins. I just happened to have a lot of silver left over when the boom hit. I sold all I had with the exception of a couple of war nickels. I have a lot of hobbies, woodworking, metal working, metal detecting and now messing around with a few coins. I find a few metal detecting. When I get bored with one hobby, I move on to the next. I am also active in the booster club for high school football, athletic director for the junior league football program, project manager for community makeover and yolk fellow at the church. So, you can see I don't have a lot of time to spend on any one thing. Good thing I am retired, have no idea how I had time to work a job.
     
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