Why is it SOOOOO hard to save up for coins?!?!?

Discussion in 'Ancient Coins' started by TypeCoin971793, Feb 25, 2017.

  1. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    I've been attempting for the past couple months to save up for a couple really cool (and REALLY Expensive) coins. But new stuff keeps coming along and hindering my goal. :(

    So, for the time being, I am done buying coins for my collection (flipping is okay), until these coins are bought. I told the dealer that I'd be able to pay for them by the end of March, but that does not look likelt right now...

    I'm sure this has happened to many of you before. Please share your heartbreaking tales of self-imposed coin embargoes.
     
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  3. Mikey Zee

    Mikey Zee Delenda Est Carthago

    Yep, it's happened to all of us. I had two coins on layaway and purchased a few other modest coins I liked and then went into 'self-imposed' exile for over a month--- then cheating a bit and using a CC or two when I shouldn't have. Damn, it's hard not purchasing coins several times each month LOL
     
  4. Sallent

    Sallent Live long and prosper

    Well, with the purchase of my Julius Caesar I blew my coin budget for March, April, and May (my February budget was already blown) so taking all the blown budgets into account I should probably not purchase any more coins until June (unless a good bargain pops up...one should never pass up on decent bargains).

    It happens! I feel your pain.
     
    Nathan401, Paul M., panzerman and 3 others like this.
  5. FitzNigel

    FitzNigel Medievalist

    I'm entering one now myself... been looking at a coin at auction that is probably going to go for more than I should pay for, but I may not have an opportunity to find another for a better price.

    At times like this, I try to focus on improving what records I already have and doing research into coins that I haven't paid much attention to.
     
  6. ToughCOINS

    ToughCOINS Dealer Member Moderator

    First off . . . you are looking for coins when you cannot yet afford to pay for them. Sad as I feel saying it, you need to hear it . . . you are being an undisciplined buyer.

    Establish your goal first in the way of an expenditure . . . stop looking for the coin, and just save the money you think you'll need to find a suitable example. Once you've actually saved the funds, THEN go shopping. In this manner, you'll be focused only on your targeted purchase, and not be distracted by other coins along the way, and will actually realize your goals.
     
    Paul M., dougsmit, panzerman and 5 others like this.
  7. Two Dogs

    Two Dogs Well-Known Member

    Tough Love from Tough Coins.... Thanks, Mike!
     
  8. wxcoin

    wxcoin Getting no respect since I was a baby

    It's tough going through coin auction listings because there are always "can't do without" coins and I tend to stray from my want list. The best way for me to not splurge is to avoid auction listings until I have the money put aside. I find it exciting to start looking after a break.
     
  9. Deacon Ray

    Deacon Ray Artist & Historian Supporter

    I feel your pain, TypeCoin971793! One of the reasons that I stick with Judaean coins is because (except for some of the rarer ones) they are fairly modestly priced. Also, the Biblical connection makes them very appealing to folks who are not coin collectors. This means that they'll be fairly easy to sell if I were to give up the hobby tomorrow. At least that's the theory. The reality is that I'm no more likely to give up the addiction I mean hobby than I'm likely to give up my coffee addiction rather I mean hobby.
     
    Last edited: Feb 25, 2017
  10. Eduard

    Eduard Supporter**

    One of the key lessons I have learned after 30+ years of collecting is recognizing which are the things which I can reasonably afford and (focusing on them and enjoying them), rather than lusting after things that I certainly cannot afford, and feeling the pain.

    This applies to anything I possess: be it the car my family drives, the house we live in, and also the coins I collect.
     
  11. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    In my case, I was not scouting out these coins. I visited a dealer, and he had them. I very much liked them and tried putting aside money for them. And these are the only ones available, and they will be the only ones available in my price range for a couple years. It's not like I can go and try to find one when I'm ready.

    But yes, I have been a bit undisciplined in my coin buying, mostly because of the assumption that a couple of my coins would sell (which they haven't yet).

    But, I never spend money I don't have. Usually, my coin flipping pays for my hobby, plus $100 a week out of pocket.
     
  12. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    The thing here is that I can afford them, but I have not been trying hard enough. If a coin is over $500, I can pretty effectively tell myself that I can do without.
     
  13. stevex6

    stevex6 Random Mayhem

    get it on credit

    [​IMG]
     
    chrsmat71, JBGood, Clawcoins and 6 others like this.
  14. scottishmoney

    scottishmoney Buh bye

    Save for coins, nice thought.

    More like save for new car, then have wife's car break down and set me back a bunch to fix it, then kid needs wisdom teeth out, another kid gets into some $50K a year private college.

    Coins, I wish.
     
    Paul M., Blissskr, Jwt708 and 4 others like this.
  15. Ajax

    Ajax Well-Known Member

    Well if you're offering:happy:
     
  16. doug444

    doug444 STAMPS and POSTCARDS too!

    You need a second job. Cashier, evenings 6 to 9, 4 days a week at this new chain selling Indian specialty foods.

    Believe they're called the "New Delhicatessen," a division of the venerable "Cash and Curry Grocery Emporiums." o_O
     
    Blissskr, Deacon Ray and Johndoe2000$ like this.
  17. Theodosius

    Theodosius Fine Style Seeker

    I used to save all year and then buy one greek tetradrachm at the winter fun show. That might be my only coin purchase for the year. I would focus on getting something rare and beautiful. I still have all those and feel great satisfaction from having them.

    Of course this was much easier in the time before the internet when opportunities to buy ancient coins was limited.
     
  18. panzerman

    panzerman Well-Known Member

    Before the internet, it was easy to save up for coins! Back in 1990s, I used to put $ aside all year for CNG Triton auction. So, when my catalogue arrived around Dec./ I was "unemployed" after working full tilt from April to beginning of snow/Dec. By that time I has saved up 15 K to spend on that auction, that would get me a couple of "mint state" aurei. Nowadays, with the www.sixbid site, there are 3 or more auctions a week/ so many tempting coins....esp. when collecting worldwide.
    End result, never have time to save a wad to buy a really expensive coin, in a way its more fun though, since one gets a neat coin in mail every couple of weeks:happy:. Nowadays its takes 100K to buy 2 perfect aurei:(
     
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  19. Mat

    Mat Ancient Coincoholic

    I don't have too much problems saving up for something I want. But I do get side tracked when deals surface or something pops up that fits my collection or I just like it.

    Despite sharing new coins lately, I haven't bought anything in a few weeks. I still have 5 to share.
     
    panzerman likes this.
  20. alde

    alde Always Learning

    The problem is you like to eat and stay warm. One must have priorities in life. New clothes are way over rated too.
     
  21. icerain

    icerain Mastir spellyr

    Or try to limit yourself to an area and focus on it for the time being. Once the phase goes through. then you start looking at coins from other areas of interest.
     
    panzerman and Deacon Ray like this.
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