crystalk64 Posted August 31, 2007 Report Share Posted August 31, 2007 As Scottishmoney has stated, "the force is strong" and the DARKSIDE awaits you. Give in to the force and join the DARKSIDE! Become an Ambassador of the Darkside! Link to comment Share on other sites More sharing options...
LostDutchman Posted August 31, 2007 Report Share Posted August 31, 2007 hahah! i have been tempted by the darkside here lately.... buying several large world coin deals... i do admit there is some neat stuff... Link to comment Share on other sites More sharing options...
just carl Posted August 31, 2007 Report Share Posted August 31, 2007 Hmm, this thread is making me wonder about my collection goals. Up until now, I considered adding one proof and/or one mint set per year to my collection, mostly assuming it would make a good investment. The things you all are saying are making me think that this is not so... are we all better off losing the mint and proof sets we buy specifically for investment and instead investing in something like ASE's each year instead, or like some of you mentioned, Euros and other foreign sets?However, I think I'll still buy the proof set this year, which includes SQ's and PD's, both of which I do not yet have in proof. First of all you should never really think of any coins as an investment unless you are a coin dealer. To buy a proof and/or an Uncirc set from the Mint should be more thought of as a hobby, something to pass on in the family, a collectors item. Speculating on coins going up or down is like the stock market. No one knows about tomorrow. I buy proof and Unc sets every year for Christmas Presents in hopes that the people I give them to will have something to remember me by. Candy, toys, clothing, dishes and/or just about anything else vanishes eventually and so does the memory of where it came from. Keep up the proof sets for tomorrow. Link to comment Share on other sites More sharing options...
Scottishmoney Posted August 31, 2007 Report Share Posted August 31, 2007 Lost Dutchman I really doubt the MINT sent anything out for slabbing as there is an absolute accountabilty issue involved that would require they account for every cent struck every day and its whereabouts on government property. They are authorized to sell to their customers, online, by telephone, by mail, and at the mint, and every item sold is paid for upfront before it LEAVES the property of the Mint. Congress would have a cow if they even thought the Mint was sending items out for slabbing prior to payment transfer. Mint employees have always been on the up and up and would never do anything wrong, or even conjure up such notions. But there are currently 11 1933 Double Eagles and previously 14 more that were subsequently destroyed that are testament to the fact that not all goes according to what is Kosher. There are the 1913 V Nickels, the 1964 Peace Dollars, oh and the 1974 Aluminium cents which are proof positive of errant ways of the Mint, the Treasury, the Congress in general. Link to comment Share on other sites More sharing options...
LostDutchman Posted August 31, 2007 Report Share Posted August 31, 2007 Mint employees have always been on the up and up and would never do anything wrong, or even conjure up such notions. But there are currently 11 1933 Double Eagles and previously 14 more that were subsequently destroyed that are testament to the fact that not all goes according to what is Kosher. There are the 1913 V Nickels, the 1964 Peace Dollars, oh and the 1974 Aluminium cents which are proof positive of errant ways of the Mint, the Treasury, the Congress in general. don't forget the intentionally errored proof coins that were smuggled out of the mint in the oil pans of the forklifts... Link to comment Share on other sites More sharing options...
LostDutchman Posted August 31, 2007 Report Share Posted August 31, 2007 i found a new banner for you guys on the darkside.... Link to comment Share on other sites More sharing options...
daggit Posted August 31, 2007 Report Share Posted August 31, 2007 Come to the darkside, the force is with you, come to the darkside Don't stress yourself with this US Mint nonsense. It is just not worth it. Come to the darkside and collect real collectables. Link to comment Share on other sites More sharing options...
dustin43160 Posted August 31, 2007 Report Share Posted August 31, 2007 i like some of the mints products but in my mind there way overpriced!! for a 2007 proof set i paid 30.00$ and theres only $6 and some odd cents worth of coins in it what a rip off!! but we still buy em lol.. Link to comment Share on other sites More sharing options...
bill Posted September 1, 2007 Report Share Posted September 1, 2007 Hmm, this thread is making me wonder about my collection goals. Up until now, I considered adding one proof and/or one mint set per year to my collection, mostly assuming it would make a good investment. The things you all are saying are making me think that this is not so... are we all better off losing the mint and proof sets we buy specifically for investment and instead investing in something like ASE's each year instead, or like some of you mentioned, Euros and other foreign sets? However, I think I'll still buy the proof set this year, which includes SQ's and PD's, both of which I do not yet have in proof. I buy my wife silver proof sets because she is fascinated by the state quarters and I like the beauty of the silver coins. She enjoys the sets as well, so I continue to buy them as a Christmas stocking stuffer (that's her tradition and passion as coin collecting is mine). I believe one of the sets would probably show a small profit if we sold it, but I bought it for the pleasure associated with collecting. I would not sell or stop buying proof sets if you enjoy them. If you are buying for investment purposes, I would look elsewhere. I had a long run of proof sets in the early days of my collecting, sold them when my interests turned elsewhere (sold them at a loss, but then they went towards purchasing another coin that I later sold at a good profit--how does one measure loss or profit on a collection over the life of your hobby??). The sets have not changed much in price today, so I could repurchase them if that was my interest. If investing were my sole interest, I would stay away from Euro sets and any of the modern stuff and look solely at quality, historic pieces that have a proven record of sustained demand. Even then, you have to look at the long term for a real profit and even that might be eaten by the real value of money over time. In the end, I collect what I like. I also buy expensive Pinot Noirs. When I enjoy one, it is gone (except for the memories) no matter how much it might have appreciated in value as it aged. When I sell a coin, I had the pleasure of owning it, possessing it, holding it, studying it, showing it off, the memories, and I get something back whether a profit or not. If investing were my sole interest, it would definitely be a losing proposition. Link to comment Share on other sites More sharing options...
jlueke Posted September 1, 2007 Report Share Posted September 1, 2007 I had a long run of proof sets in the early days of my collecting, sold them when my interests turned elsewhere (sold them at a loss, but then they went towards purchasing another coin that I later sold at a good profit--how does one measure loss or profit on a collection over the life of your hobby??). I can get you a ledger or an abacus though most people prefer something like Excel or Quicken Link to comment Share on other sites More sharing options...
josemartins Posted September 1, 2007 Report Share Posted September 1, 2007 Anyhow, sorry for the rant, the mint just ticks me off, and then I hear about people skirting the rules to get more than the limit of 1 per household and it irks me further. Just be happy that your country mint do not use the "buddy system" when selling their inventory ... ...wait a minute, mine does... Hmm, this thread is making me wonder about my collection goals. Up until now, I considered adding one proof and/or one mint set per year to my collection, mostly assuming it would make a good investment. The things you all are saying are making me think that this is not so... are we all better off losing the mint and proof sets we buy specifically for investment and instead investing in something like ASE's each year instead, or like some of you mentioned, Euros and other foreign sets? However, I think I'll still buy the proof set this year, which includes SQ's and PD's, both of which I do not yet have in proof. Investing in coins? It would take years (decades?) to do that successefully (unless you become very, very specialized...), and buying collector targeted products (e.g. "coins") won't make it easier altough that is the feeling that the mint and several distributors with high advertising budget will use to get your money. Junk bins are great to find out what you want to collect, try this: for six months/one year just buy the coins you like from those and then take a look at all the coins you've bought during that time, what gives you pleasure to collect will be apparent... (which types of coins you've bought more, which country, which metal/s, which era's, which theme,...) Jose Link to comment Share on other sites More sharing options...
crystalk64 Posted September 1, 2007 Report Share Posted September 1, 2007 I have collected for almost 30 years and did not look at my hobby as an investment but always knew it could be and should be. After losing a job of 28 years in the fall of 2005 I found out my collections was indeed an investment and over the past two years have been forced to sell most of it off. I made quite a bit of money, even on recently purchased items (2000 to 2003), so no one can tell me the opportunity is not there. A real key to coming out ahead is build on the classics as THEY DON'T MAKE THEM ANY MORE! Just two weeks ago I found myself jobless AGAIN so I turned to my "herd" of buffalo nickels for help. As much as I hated it 191 nickels went to my dealer and I brought home a check for $1,743.00. Now I have to start building my herd again but, in my mind, my collection has more than saved me and my family over the past two years so every penny spent was well worth it. Actually I look at collecting as more of a savings account over a period of time. Hopefully one never has to get into it so it will always be there but.....things happen. I still have ALL my world collection and will continue to seek out those coins that I find appealing. What a great hobby! Link to comment Share on other sites More sharing options...
bill Posted September 2, 2007 Report Share Posted September 2, 2007 I can get you a ledger or an abacus though most people prefer something like Excel or Quicken I've had trouble with the currency conversion, but my jetons and a home made counting board seem to work okay. Its just figuring the percent profit that's difficult. I think I need more jetons! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.