Many Selling out - Tired of US Coin Market Losses

If you want the price realized to go back up, make a YouTube video on how it's worth a million dollars.

 

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This is the key.

Another way to look at the hobby, (how I try to look at it), is "how much is the enjoyment you get worth?" If you buy coins based on what others say, and how much it might go up or down, then you probably should not buy coins. I buy coins that give me enjoyment. I tell my wife I "use up" the price I paid for a coin in my personal enjoyment. To me, my coins owe me nothing. If I will not get $200 worth of pleasure owning a coin, I do not buy it.

The advantage of such a philosophy is that, to me, I have zero invested in my collection. Anything my family sells them for when I am gone is simply profit, since I have already gotten full value from them as my hobby.

Maybe try this philosophy. One thing it instantly did, once I adopted it, was take away the pressure of "key dates". I simply do not care. Since a 16d dime will not give me that much pleasure to own, I simply refuse to buy it regardless of what others say I must own. I have bought expensive coins, but because they were important to ME, I wanted to own that piece and owning it gave me as much pleasure as the price tag.

 

I have been getting nice US gold coins at these more realistic prices. The US market is not declining/ its a correction. Prices where in past 20 years way too high for actual rarity. There are still coins that are priced at outrageous prices like the 1857-S Double Eagle/ which will blow up, as thousands are being salvaged from SS-Central America at this time. Foreign/ ancients prices have gone ballistic/ but are still underpriced considering true rarity. There are world coins with less then 5 known/ still you can get one for less then $1000. A US coin (5 known) =6 figures+)

 

So true! My wife’s 1st husband bought around 100 collector plates while they were married. Unfortunately, they came to her side of the ledger when they divorced. Years later, we are still lugging them unboxed from house to house as we have moved several times and will move again soon. Oh, and we also have a bunch of those wood and glass frames you put them in so you can hang them on the wall.

 

I believe this post was the first time I ever genuinely felt badly for a fellow CT'r.

 

Thanks Randy, I will do my happy dance the day we get rid of them!

 

Coin Collecting is always a doubled edged sword for me.

Being a Financial person one has to ask themselves what "value" a coin brings (not only emotionally but to your own personal wealth) and "how" does it's valuation increase/decrease over time.

I'll let this be the exercise of the people who want, but try to determine all the factors that can affect the price of a coin. To help in the evaluation compare it to other items such as (a) company stock, (b) Beanie Babies, (c) [as above] collectible plates, (d) "vintage" car and even (e) an ounce of gold.

but as a starter initial think in basic terms:

• supply vs demand
• constant supply of competitive products (ie, new coin series)
• item/industry exposure/publicity
• what drives valuation changes

Oh what fun.

To me the only "investment" grade coins I have are the high valued ones. And at that level whether it increases, stays the same or lowers one has to know when to sell it. After all, a "pure" investment should have no emotional attachment so buy/sell when it's profitable or trending analysis based on above factors will help dictate when to keep (with a dump % when it's reached). If you want to keep it for other reasons it's no longer a pure investment.

 

I "value" joy.

And so I waste my money on coins. I also waste my money on nice bourbons and rums. I'm also an avid cyclist and runner, and so I waste my money on running shoes and bike stuff.

My wife and daughters steal the rest of my money.

 

I also value the joy coins bring, having said that, you can have your cake and eat it too. High quality, rare coins, esp. gold are a great investment, but also fun to look at. I have spent close to a million dollars on rare gold coins/ would say the collection is worth ten times that. But, again I will collect for the enjoyment/ not profit.

 

You gotta go with the flow! Up and down prices occur daily. The key to making money is buy low and sell high, not the other way around. I'm retired now but I'm still buying and not selling.

 

yeah .. in the last 2 years I've upgraded 2 bikes to 11spd Campagnolo Super Record/Record and Super Record/Chorus; Fulcrum Competizione/Bullet ultra/ Bora ultra 50 / WTO 60 wheelsets plus a bunch of other goodies. The stuff on them was old and worn out so time for a change.

That's a couple pretty pennies spent on my bike stuff.
The daily depreciation is easily calculated, the "joy, joy" value is gigantic.

 

US coins are common and boring now, this is coming from a former US collector. I'm deep into world coins and loving it. But I think typecoin hit on something that I also agree, its the culture of US coin collecting, very toxic and I don't want to be a part of it.

 

My Uncle John collected Bing & Grondahl Christmas plates many years ago. He had stuff from the early 1900's right up until I last saw him (late 70's). Being of Danish heritage he encouraged me to do so too, but I never did. He did give me a few 60's and 70's and said they would appreciate vastly in price down the road.

I bought a 1916 one (plate) for 5 bucks at a thrift shop last summer. Loved the design and the price........

 

I have been collecting steadily since 1974 and not once in that time thought of selling out. My personal thoughts on the subject? Ask yourself why you chose to collect coins in the first place. Also, which series. Most of those you refer to I would surmise collect for the future value, retirement. Which is not a bad thing, per say, if chosen properly. To explain this one must understand that the market continually shifts across all series from one to another, sometimes with dramatic swings in value reflective of the change. The one constant, however, which will never change are the key date, rare and unique coinage. Also, certain series such as the cent and Morgan Dollar tend to see little price variation overall due to extreme decades long popularity. That's to say these series as a whole, not the keys or highest graded of them.

In defense of your post topic, it gets frustrating at times as the market is driven higher and higher by fancy plastic and special stickers. What ever happened to the idea of a coin being either MS65 or not? No MS65+, no fourth party beans. Going one step further, why is a person such as myself, who collects raw or buys slabbed for authenticity only to crack them out looked upon like a leper?

 

Only an idiot would think you as such. Your collecting endeavour is of the purest form.

 

Not exactly for a profit but a savings, some of us just hope that one day, the TPG's stop flooding the market with over graded coins, It is killing the market.
The only way to stop their egregious effort is to stop crack outs. Let's FACE it , it is bad for business.

 

I would rather see Respect for the collector. Morality to set some standards.
Ethics to stand up for the history. And a Backbone to stand up for what a grade should be.

 

My take on it was that he was using the plastic grade as confirmation and nothing else. No resubmission. Left only to reside in his collection for nothing more than pure satisfaction of achievement. I've yet to crack out a slab I've bought, entered it into a coin tight or flip, and adjudicated it to my collection. The fellow has bigger Monongahela's than me........

 

So, you don't crack over graded coins, and throw them in an album? Just because they need a home?