Have You Considered Getting Out?

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

  1. RaceBannon

    RaceBannon Member

    I toy with the idea occasionally. But collecting coins gives me such pleasure. If I were to sell, I think I'd dump it into another hobby, restoring a classic mustang, buying a boat. Right now that chunk of change sunk into my collection may even appreciate over time.
    I also kind of like the idea of passing the collection on to my heirs. After all, it was sifting through my Grandfather's collection that got me started. Really, that was a gift passed down from one generation to another. Maybe some day I can pass on the gift.
     
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  3. BR549

    BR549 Junior Member

    Catbert, I have seen some of your purchases and I can say you are in the elite league with some of the coins you've picked up along the way. I on the other hand purchased many coins for reasonable prices that rose in value through out the years. Being a long term collector, the ups and downs with the economy has to do with money available in order to make new purchases and has no effect on what has already been purchased. The horizontal wave of coin values dips and rises but pretty much has been on a steady incline.

    If you feel that way about your coins values, check out the current interest rates on CD's.
     
  4. statequarterguy

    statequarterguy Love Pucks

    Not getting out, but I did trade a gold coin for a rifle, just in case it does all go to hell (but that won't happen).
     
  5. AdamL

    AdamL Likes Silver

    I am probably going to have to sell off a little bit of my collection later this week, just for financial reasons. And I never thought that day would come. Only $200-300 worth of easily replaceable stuff though. And my Walkers aren't going anywhere ;) However, when I came to this decision, the thought did cross my mind just to sell most of the collection and get out untill I'm more financially stable. I can't bring myself to do that though. So I'm just selling enough to make the extra couple hundred bucks that I need right now.
     
  6. 10gary22

    10gary22 Junior Member

    My valuables went during the last recession. Roll searching, sorting junk and selling once in a while on eBay is what fills my days. Quit ? Nah, can't stand daytime TV.
     
  7. panda

    panda Junior Member

    i don't think i will sell if at all for a long time. i sold one gold coin and still regret it, even though i made out like crazy.

    i have totaled my collection up, just because i was bored. its at around $5,500 and all but about $500 was given to me by my girlfriends family. so whatever i get would be all profit.. i just enjoy it to much. i love learning things and am stuck sitting in the house all the time.

    my other main hobby's are working on cars and building computers and coin collecting is a great compliment to them. collecting coins is totally different and i like that.

    if all goes to hell, my ar-15, ak47, and 12 gauge should be enough. my new HK45 should be in next monday, so add that to the list! if not i could just bunk with my uncles and aunts who were all 3 in the army and now police officers(i will be in 3 months). they also inherited my grandfathers 400 gun collection:rolling:. with my gold and silver coins and guns i feel comfortable.

    in emergency if i had to, the extra computers and parts would have to be the first thing to go, then sadly it would have to be the coins. this is only for extreme situations though. thankfully me and my girl both have medical, but i couldn't get my dog a medical plan because of her history with epilepsy and parvo. i have a special account that i keep putting money in if something happens. so i think i am good on emergencies. plus in 5 years i get my inheritance from my great grandmother! i don't plan on many kids and i am not sure how fit of a mother the girlfriend would be, so we don't need a big house. the quarter mil should be enough cushion, that i never have to sell off the coins. or i could make the women get money off her rich(mlb player, now coach) uncle.

    wow i went on and on. sorry, some of my medication makes me social...
     
  8. 1970 Silver Art

    1970 Silver Art Silver Art Bar Collector

    I collect silver art bars as a hobby and I consider that hobby as a big part of me and it is relaxing to me. Sure the economy is bad but I do not plan to give up collecting just because the economy is bad. However, I have cut back on my silver art bar collecting to concentrate more on paying down and paying off all of my debts (will take about 3 more years to become debt free) and saving more money but I have not stopped collecting and I do not plan to stop collecting because collecting silver art bars makes me happy and I like looking at them. Some of the silver art bars that I have took a while to find at the right price and I want to keep those silver art bars. For me, finding certain rare silver art bars for a very good premium over spot silver represents a sense of accomplishment for me.
     
  9. kanga

    kanga 65 Year Collector Supporter

    IMO an excellent way to handle the situation.
    If your interest wanes, give it a rest (rather than giving it up).
    Same thing if your financial situation no longer allows you to collect.

    I've had two major breaks in my collecting career.
    About 15 years from the mid 50's to 1971.
    And again from 1980 to the early 90's.
    Each time I came back it was with renewed energy.
     
  10. Speedy

    Speedy Researching Coins Supporter

    yeah, I have, and I kindof plan on selling a large part of my collection here in the next few months. Most of what I'm looking at selling is quite easy to replace, and maybe even upgrade, but there are a few that I want to keep...like my S VDB.

    My main reason isn't the same as yours, but is that I'm looking at maybe attending college and so my time for coins would be cut back, and also the funds would help out some as well.

    Speedy
     
  11. tonedcoins

    tonedcoins New Member

    In my opinion, coin collecting is for ever whether you're on forums or not, you always have that passion for them. :hug:
     
  12. clembo

    clembo A closed mind is no mind

    I've considered liquidating large portions of my collection for years. Doing it is another story.

    I've also considered selling the vast majority of my collection and purchasing a few higher dollar, "proven" coins as investment. This hasn't happened either.

    Like so many others I'm a collector. It's in my blood. This is why I work for a coin dealer but certainly don't consider myself one.
     
  13. RickieB

    RickieB Expert Plunger Sniper

    I often think of selling the Small Size Collection....I have come to terms that I may never finish what I started so long ago. It just seems that the goal is un-obtainable.

    RB
     
  14. Marshall

    Marshall Junior Member

    Hello! My name is Marshall and I'm a coin collector. After 45 years of collecting, all I've found is that when I get rid of coins, it only spurs me on to collect on a bigger and more expensive scale. And I always regret having given up what I sold, even if they were low grade or something I wouldn't collect today.
     
  15. 10gary22

    10gary22 Junior Member

    I have never considered chucking it more than right at this moment. I just did a roll swap for different mints. I got the e-mail thanking me for the coins and telling me mine were shipped. Well, the empty envelope arrived today. Seems the 2 rolls must have acted like nanchuks against the top flap of the 8 x 10 padded envelope they were sent in. It's not a great expense, or a big deal really, but I feel very badly about it. And I cannot seem to get past it. I spend much of my time fighting off bad feelings due to my disability as it is. Why creat a situation that causes more ? Anyway, I am shutting it down after this post for a while and reflect on this. If it's not enjoyable, why continue ?

    Bye guys
     
  16. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes? Supporter

    My hobby keeps me sane. I love collecting. I love the hunt, I love acquiring. I love seeing them all laid out. I love the beauty. I love the history. I love writing about them, teaching, learning, exploring, researching. I love the people. I love everything about this hobby. If I were to ever quit, it would be because I was dead.
     
  17. 1970 Silver Art

    1970 Silver Art Silver Art Bar Collector


    That is exactly how I feel about my hobby of collecting silver art bars. I enjoy looking at them and doing research on certain silver art bars. I could NEVER see myself quitting my silver art bar hobby because I love it too much.
     
  18. A reason to stay into coin collecting is because there are so many people that really enjoy it (including me) which means there will most likely always be a demand for rarities
     
  19. CoyoteMoss

    CoyoteMoss Junior Member

    Run for the hills - guessing you meant this as more of a figure of speech. Did hear advice once, don't run for the hills if times are bad because those in the hills have the high ground and will shoot you when you get there.
    To address your real concerns and thoughts, I have felt the same way several times and it has always been good for me and my collection. I have been collecting for over 40 years now, but actually in part that is a lie. Out of those 40 years I was actually collecting for only about 25 years at best. The rest of the time, everything of value was in storage. I just put it all away and in later years pulled it out of storage and went at it again. Once when silver prices got real high, I pulled everything that was low grade and dumped it. I've dumped a lot of coins in the local coin star, they are AU grade that I find in my pocket, but will probably never be of much value in the next hundred years.
    Guess what I'm saying is, maybe you just need to put the best ones in the attic or basement, dump the rest and take a break. It's worked for me and been to my benefit several times.
    One thing I've noticed at the coin shows I attend, everyone is old like me. The dealers are older and those purchasing coins are old. Which makes me wonder what state will the hobbie be in 30 years from now. My thinking was coin collectors are all older people and coin collecting may well fade away, but then I was proven WRONG.. age polls on this and other sites proved that there are many younger collectors.
     
  20. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    I wonder what the census numbers are for the ANA YN Program?

    Chris
     
  21. Just Carl

    Just Carl Numismatist

    Original post is accurate. The economy is lousy, jobs are not appearing in any great numbers either. People from other countries are taking the few jobs that do appear. The dollar is not worth anything anymore. You buy a coin for a five dollars and it is now worth the same but the five dollars is now worth one. Coin collecting is a real waste of time and money. There is really not much of a place you can sell what you have. New collectors should get out now.
    NOW, due to all of the above, I suggest in order to help you all out, please send my what you have so far and you can stop all the worries about the above. Why take a chance on going broke, having ulcers, nervous breakdown, divorse, etc. All can be eleminated by simply sending me all those lousy, trouble making coins.
    One minor detail is you will have to pay for the postage too. :):goofer::smile:hail:
     
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