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<p>[QUOTE="dougsmit, post: 3183840, member: 19463"]The new collector has one other choice whatever there budget level might be. That is to get over the idea that they will be making a profit on coins and buy coins they can afford realizing that they may never sell them. I have known several people for whom a $100 bill meant no more than a $1 does to me. There are people who have that feeling about gold bars. They can collect dekadrachms by die variety; I can't.</p><p><br /></p><p>I had lunch; I put gas in my car; I bought a coin. I did not plan on reselling any of the three. Sure, I will sell some coins (for more than I will get for used food or gas) but I will sell the coins I want to sell, not those that are primed for profit. The hope for gain drives people to pay more than they themselves believe is appropriate for the coin or to buy coins that they do not want but feel they 'should' buy. If we buy only coins we can afford not to consider recoverable investments, we are free to enjoy them for what they are rather than what we hope they will be. Perhaps there will be a 'surprise' cash return before or after we die but that is not the reason to collect. When I die, some of my personal effects (cars, clothes and coins included) will be sold; some will be donated to charity; some will be kept by family to remember me by; some will be put in the trash. Which category is which is not a primary concern of mine now.[/QUOTE]</p><p><br /></p>
[QUOTE="dougsmit, post: 3183840, member: 19463"]The new collector has one other choice whatever there budget level might be. That is to get over the idea that they will be making a profit on coins and buy coins they can afford realizing that they may never sell them. I have known several people for whom a $100 bill meant no more than a $1 does to me. There are people who have that feeling about gold bars. They can collect dekadrachms by die variety; I can't. I had lunch; I put gas in my car; I bought a coin. I did not plan on reselling any of the three. Sure, I will sell some coins (for more than I will get for used food or gas) but I will sell the coins I want to sell, not those that are primed for profit. The hope for gain drives people to pay more than they themselves believe is appropriate for the coin or to buy coins that they do not want but feel they 'should' buy. If we buy only coins we can afford not to consider recoverable investments, we are free to enjoy them for what they are rather than what we hope they will be. Perhaps there will be a 'surprise' cash return before or after we die but that is not the reason to collect. When I die, some of my personal effects (cars, clothes and coins included) will be sold; some will be donated to charity; some will be kept by family to remember me by; some will be put in the trash. Which category is which is not a primary concern of mine now.[/QUOTE]
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