Happy New Year to you all. As we know New Years is when many people make resolutions and plans for the coming year. Most collectors are married to non-collecting spouses and these spouses usually worry about how the money is being spent when they don‘t do the spending. That means the first thing a collector must do is to teach the spouse that buying collectibles is an investment just like stocks and bonds only a lot more fun to own, and that collectibles unlike adult toys i.e. snowmobiles, fishing boats, sporting equipment and jewelry, will probably be sold at a profit someday instead of depreciating down to almost nothing. Once this has been accomplished the collector will find that he is probably collecting on a budget. The thing to remember here is that a budget just divides up an income into smaller dedicated funds on a continual basis. Therefore from every pay check, even if you don’t buy any collectibles during that pay period, set aside the money budgeted for collectibles and just let the collectibles fund grow until you find something you need to buy. When you sell an unwanted item the money from that sale should also go into the same collectibles fund. Then when something good comes along you can buy it outright and feel just like a hunter with a license and plenty of ammunition.
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- e-letters (January 31, 2017) We asked: Do you feel threatened by counterfeit coins? I cannot know how it would feel to find out that I purchased a counterfeit coin. Other than the expense, I imagine that the disappointment would be a great concern. The hobby is aware of the counterfeit problem. Since my major interest is collecting modern U.S. coins, ...
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