I have lost money on every coin i have ever purchased.

Discussion in 'What's it Worth' started by coins776, Mar 12, 2013.

  1. DRK

    DRK New Member

    hehe, thank you. But I will loose some money, eventually, as I start buying items :)

    What I wonder is: Is it possible to make both (collect and get profit)? Maybe, if you build a good collection, you could end up selling it for more money than you spent. But I don't think you could buy a car from the difference :)

    Another option is waiting years until the collection value goes up. I'm pretty sure most coins get their price higher with time. But you have to wait a lot, no less than 30 years I guess. To make some difference.
     
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  3. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    Understandable, but if such magical places existed and everyone shared them on a very general and public coin forum, one of these places would not survive long, would it? That said, there are dealer networks, but not everyone can pop in and buy for very good reason.

    It's really not that difficult to make money in coins, and it should be that much easier for one with the necessary knowledge who does not collect. I do not believe that anyone was being overly negative, but when you insist that you do have said knowledge and skill, yet still lose money on every coin over a five year period; clearly something is wrong with your business plan even though you seemingly refuse to accept this.
     
  4. Kentucky

    Kentucky Supporter! Supporter

    Making money off the hobby is a question asked many times on CT and has just as many answers as questions. Collecting implies acquiring something you like and that has meaning for you. This will superceed any hope of profit for a collector. To make money, you could have a personal collection and one for profit, or you could just collect from pocket change and bank withdrawals. Many people do this and post their finds here. Don't expect to make a living at it though.
     
  5. saltysam-1

    saltysam-1 Junior Member

    If all these suggestions don't offer an acceptable answer to your questions after 203 posts, there still will be no answer after 406 posts either.
     
  6. DRK

    DRK New Member

    I totally agree with you. Maybe you could make some money for investing in your own collection, that's all.
     
  7. Kentucky

    Kentucky Supporter! Supporter

    That's why I bought 2 2012 silver proof sets, wish I had bought 10.
     
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