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Find the money one way or other

When you buy coins, do you find yourself saving up for specific things beforehand, or do you find something on the bourse floor or online, decide to buy it and then figure out the finances later?

I ask this question as a variation on a perennial theme. I have proposed from time to time in my Numismatic News column that collectors should put a hobby budget together.

Set a figure. Say to yourself and most importantly, other family members, “I plan to spend X dollar on coins this year.”

That means you won’t have to feel guilty about making a purchase. The money will have been planned and set aside ahead of time.

No? It doesn’t work that way?

That explains all the collectors who are financing their hobby purchases as vest pocket dealers.