What is your thoughts on the weird way I collect coins? Go ahead, I'm thick skinned. LOL

Discussion in 'Coin Chat' started by GUNNER63736, Feb 19, 2019.

  1. GUNNER63736

    GUNNER63736 Well-Known Member

    Sure ain't doing it for an investment. Not enough years left to worry about that.
     
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  3. GUNNER63736

    GUNNER63736 Well-Known Member

    I always check with the wifey before buying anything. Like you say, necessities first. I have been married to her for 51 years and I ain't scared of her but I sure do "respect" her a lot. I like to sleep at night.
     
  4. oz_in_ohio

    oz_in_ohio Active Member

    As a retired coin dealer from australia, i have seen what the up coming generations are like with concerns to coin , banknote and stamp collecting....I attended many coin shows and the average age of the customers were over 40 years old...They simply were doing it for a hobby...The true investor has long gone and unless you are wanting to buy key items today and sell them quickly , i really suggest long term is not the way to go..Just think about it. If you invested $100.00 for a year at 5% in the bank, you would get at the end $105.00...But if you bought something at $100.00 and sold it for 5% more withing the week, you would earn $260.00 in one year. As you see there are 52 weeks in the year and 52 x $5 = $260.00...That is of course if you can sell 1 item a week earning the minimum of $5.00 profit. Many times in my shop i bought dozens of pounds of used silver and i went through them to see if any high points maybe still there making them a VF coin. Then with the cost of a local phone call, i rang another fellow dealer that had the connection to melt it down to bullion and sold it all to him for 80% of the silver value...I used to pay 70% so i earnt 10% , he earnt 10% and the smelter earnt 10%.Everybody wins but these days too many people are so greedy that they dont leave anything in it for anyone... Unless it is the latest mobile phone, kids these days dont want to have anything to do with the hobby...Mint stamps i use on my packages i send out and i am including the back of a picture i have made up this morning to take to the post office... As you see, dealers will pay 50% of face value of the stamps ( IF YOU ARE LUCKY ) and i am using them for the full face value. I pay a bit ore as i want the stamps to save on shipping costs... I may be taking all these mint stamps out of the market but if there is no one to collect Rev.JPG them, why keep them.... I do not disclose the front of the package as it has the persons name and address on it and that is an invasion of privacy.....I never check with the wife with buying and selling items like i dont check what she wants to do It may not be withing a week or so but i never use the household account... When i came to the USA after leaving Australia i started an account in ebay with $100.00 in a paypal account....Needless to say we have been on 3 cruises since by selling off these collectibles. So if anyone doubts by melting the coins and using the stamps is worthless, then please go your own merry way..All i know i never paid for the 3 cruises out of my bank account.. All i say is forget the children and grandchildren as i have seen it as a retired dealer that they have no interest in our hobby...It has gone way down hill since the mid 1980's and is going even further now...Those people that dont like what i gave said here, then dont read it...if they dont want to hear the truth, then go read someone elses fabricated story on how it is so good and such a thriving business. Collectibles in general have gone down the tube... I did have in my past , a 1959 barbie doll in the original box ( 1st issue ) and could not sell it , even in auction. I was asking less than $200.00 for it..If you want to check ebay auction #202602861552 , they are asking $99.00 for just some clothes...Can you imagine if the doll was there also. It may be close to $500.00?? It was then i figured out that if anyone asked me the value of it, i answered " what someone is willing to pay..no more and no less " . As you see if an item has not been sold, then it to me was worthless.... Another thing people ask is what is the best item someone has and i used to reply the item i just sold as now i have the money and it is gone...Does not matter how much money it is...It can be only $1 . All the gold, banknotes, bullion sitting in a safe is worth nothing as it is not sold yet... This goes for everything...A house, boat, housewares and so on....A good example is the WW1 medal i have as my picture... People ask what that is worth and as i still have it, it is worth nothing because it is not sold... I actually have its original ribbon but the picture would have been too small and not legible...have a lovely day you all....
     
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