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<p>[QUOTE=&quot;GDJMSP, post: 8660816, member: 112&quot;]<i>How do you know when to stop collecting and start selling off your coins?</i></p><p><br /></p><p>You don&#039;t really, it&#039;s a personal decision that only you can make. But before you make that decision you should at the very least have a good understanding of all the particulars, the consequences of selling, (and there are always consequences), as well as the timing aspect. </p><p><br /></p><p>Selling a collection can range from being extremely complicated and downright difficult, to fairly simple and easy to do. Which, is determined by what you have already done, or not done, in the past. </p><p><br /></p><p>For example, have you kept detailed records of each and every purchase and have the receipts to back them up ? If you have, things are easier, if you haven&#039;t things get more difficult and complicated in regard to the tax issues. Are all your coins graded and slabbed, and by whom, or are they all raw, or a mix of the two ? The answers to these things determine what you need to do or not do before you even make your decision because there may be a lot you need to do first.</p><p><br /></p><p>As for timing, again that&#039;s going up to you. And timing is extremely important. Sell at the wrong time, you&#039;ll likely lose money. Sell at the right time, if you did everything right in the past you&#039;ll probably make money. If you didn&#039;t do things right, it&#039;s a toss up. To give you an example of how big a part timing actually plays, you need to be aware of things like this.</p><p><br /></p><p>This is a chart of what the overall market looked like when it was at its peak in 2008, which is the highest it has been in over 30 years - </p><p><br /></p><p>[ATTACH=full]1519740[/ATTACH]</p><p><br /></p><p><br /></p><p><br /></p><p>And this is chart of what it looks like now - </p><p><br /></p><p>[ATTACH=full]1519741[/ATTACH]</p><p><br /></p><p><br /></p><p>As you can see, it&#039;s pretty dang close to where it was in 2008. Not quite as high, but pretty close. In both charts you see just how quickly the market can rise, as well as how quickly it can drop.</p><p><br /></p><p>The question is, what&#039;s it likely to do going forward ? Will it continue to rise, or will drop ? That&#039;s how timing works and why it it is so important !</p><p><br /></p><p>Those just the basics of things you need to know and be aware of before you make your decision. And then you still have consider any all things that you need to do before actually selling, like do any coins need to be slabbed and graded, or do any need to re-slabbed and graded by somebody else ? And if so, how much is that gonna cost you ? And of course, as you mentioned, you have decide which method of selling you&#039;d like to use. That can be complicated and difficult all by itself. </p><p><br /></p><p>And once you know all these things then you need to go talk to an accountant - before you actually do anything ! Between the cost of doing things and tax consequences, you may not want to do anything. Or you may want to jump right on it. But understand, both have consequences. All of it, and more is up to you.[/QUOTE]</p><p><br /></p>

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