POLL: Would you lose interest in coins, if you couldn't profit from them

[lclugza]

Would you lose some or all of your interest in coins, if you could never profit from them? And what would be your reasons why you would or would not lose interest?

 

[Wihlborg]

I would still be interested in coins whether I could make a profit from them or not. I don’t collect coins to make a profit, I collect because I love the coins and the history that surrounds them. I consider the fact that I, or more likely my heirs may make a profit from them a nice plus, but it is not the driving force behind my collecting.

 

John

 

[GDJMSP]

What he said

[Leothelion]

There's another side to this hypothetical question and that is, it really depends upon how much one can afford to lose if profit wasn't a concern. Most collectors collect coins to collect coins! Most coins can be abtained for less then a couple of bucks. Unless your question was directed towards those who collect certified coins which usually carries a higher expense then yes, it would be a bummer, knowingly throwing away all that cash. But on the other hand, the majority of those collectors are throwing away their money anyway especially when it comes to collecting the pop-top certified modern stuff.

My thoughts behind this kind of reasoning lies within the flux of coins and collectors that have hit the market these past months. When most of the new collectors wise-up on these modern coins and leave the hobby then the party will be over. In short time, there will be more coins in plastic then we'll have in collectors. Golds up and that will eventually come down too and that's life.

 

Leo

[gmarguli]

I would lose quite a bit of interest. Part of the thrill of coin collecting is hitting those big scores. I'd still like coins as much, just not spend as much on them.

[Hoot]

Collecting coins is not a purely-disposable-income hobby for me. I would definitely not collect the high-end stuff if I could not at least fetch my money back out of the coins I buy, at least for the most part. Also, like Greg, I like the thrill of the chase and finding a superb piece for a great price. It makes some of the pursuit challenging and fun and it also helps supplement a very addictive habit!

 

I enjoy the study of numismatics far more than I enjoy collecting or having coins themselves, but the little round disks sure can be fetching!

 

Hoot

[toyonakataro]

In the past few years, I lost more than $10K by buying/selling coins and I still keep on collecting.

I must love this hobby or maybe I'm just stupid

[Leothelion]

In the past few years, I lost more than $10K by buying/selling coins and I still keep on collecting.

I must love this hobby or maybe I'm just stupid

 

No, it's likely you have quite a wealth to do with. It's just that some hobbies can be more expensive then others.

 

Leo

[Weidel Legacy Collection]

I would only lose a little interest if I couldn't profit from my activities. For the last 4 or 5 years I've been purchasing lots of multiple copies of proof sets and proof eagles from the mint, then over time as the prices have risen, I've sold them to finance my real interests in collecting. Its a bit of a [!@#%^&^] shoot, but so far has worked very well for me. So, I would still be collecting what I do, but just not as much as I'm able to do now due to my methods of financing things.

[Oldtrader3]

I win and lose on selling coins. As others have said, the more expensive a coin, the more profit motive comes into play. Coins up to couple hundred dollars are not nearly as much concern as coins over that amount.

[Leothelion]

I win and lose on selling coins. As others have said, the more expensive a coin, the more profit motive comes into play. Coins up to couple hundred dollars are not nearly as much concern as coins over that amount.

 

, My breaking point is $10! Just received the raw 1939 MS65FS and 40-D MS64 6 stepper in the mail. Both are beautiful toned coins but the 40-D has more marks on the profile of Jefferson than I care for at a cost/loss of $10.40.

 

Leo

[DaveG]

Personally, I profit from my coins every time I look at them or read about them.

 

(Oh!, you mean profit as in money. silly me )

 

Interestingly, collecting coins (or other collectibles) is the only hobby where you can even have this discussion.

 

I know people who fish or play golf who spend a lot more on their hobbies than I do on mine (equipment, greens fees, travel, etc.) and the only "return" they're ever likely to see is some happy memories - except for the fishermen and many of them now "catch and release".

 

[truthteller]

What!! No profit---->No coins--------->Life is over!

 

 

TRUTH

[EZ_E]

Personally, I profit from my coins every time I look at them or read about them.

 

(Oh!, you mean profit as in money. silly me )

 

Interestingly, collecting coins (or other collectibles) is the only hobby where you can even have this discussion.

 

I know people who fish or play golf who spend a lot more on their hobbies than I do on mine (equipment, greens fees, travel, etc.) and the only "return" they're ever likely to see is some happy memories - except for the fishermen and many of them now "catch and release".

 

Great post! You're right, profit can be defined in more ways than just financial.

 

Also, I love your point about having something concrete after the day is said and done.

[Please Delete-migration]

My interest level would remain just as high. I have profitted off of a few coins in the past but it isn't the reason I collect.

[James_OldeTowne]

Believe it or not, even though I'm part owner of a coin business, profit is far from my motivation. Which is a good thing, since our company isn't profitable....

 

James

[paigow_johnny]

An older friend of mine, who's been collecting for decades, summed it up for me...if you're into coin collecting to make money, you're in the wrong hobby.