When is it time to pack it in?

[jtryka]

Lately I have been pretty bored with the hobby and I'm considering packing it in. How does one go about making such a decision as this? How do you know when it's time to get rid of your collection and move on to something you enjoy more?

[Gunsmoke]

There is no "right" answer. It is a personal decision that must be made by the individual. My only advice would be not to be hasty, perhaps pull back, but not sell off your collection.

[BillJones]

Well if you really are bored, now might be a good time to sell everything off. The market has been strong, but not in ALL areas. AND there have been hints at a slow down.

 

One thing about when the market does slow down or even crash, the evidence is first noted on the BACK END. Dealers stop buying or they start offering lower prices to buyers. This often does not show up on the Gray Sheet right away. Lower prices on the wholesale and retail end usually take longer. Usually usually the need liquidity prompts lower selling prices.

[jom]

Lately I have been pretty bored with the hobby and I'm considering packing it in. How does one go about making such a decision as this? How do you know when it's time to get rid of your collection and move on to something you enjoy more?

 

Interesting. I've been bored with the hobby at times but it has a way of coming back. It is between shows (which is usually Long Beach) when this creeps in. AND...in the past when spare cash was at a minium my brain somehow goes into "coin boredom" mode automatically. This is where you know you can't really spend any money so the brain takes over and gets you into a mood where you aren't temped! Works like a charm.

 

So don't be surprised if the interested returns...I sold off some coins the last time I went thru this (when I bought my house) and I've regretted selling some of my coins. Don't let this happen to YOU!

 

As to selling off: If it is your gold you want to sell NOW seems to be a good time. Although, I feel that the market has probably peeked....

 

jom

[RobertB]

I've been really bored too. The prices keep going up and I have a hard time even finding anything I like. I don't plan to sell very much, I have however been selling off pieces commanding improperly high prices and those with little to no eye appeal. I'm not buying unless something tooooo sweeet comes along. My main plan is to step off, enjoy the spring turkey hunting season, shoot some skeet while the weather is nice, and wait until the summer comes.

[jtryka]

Well this month has seen some unforseen expenses, so money has been tight, perhaps jom is on to something. And ANA is coming up soon so maybe that will help too.

[BillJones]

I seldom get bored, but I do go into cycles. I'll lose interest in a series for a while, and the coin will sit in my safe deposit box. Then something will get me started again, and I'll get "into" something for a while.

 

When I have gotten really bored, I have "pulled the pug" on a collection, set or single coin and sold it. That does not happen too often.

[RobertB]

It is funny how you can all of a sudden get back into things. I went to the craft store with my wife who was looking for a picture frame and I found the neatest thing. I found a wall mounted state quarter display case. It's very classy, mahogony with a hinged and latching glass door. The inside is a nice clubhouse green felt board that has a slot for each state in rows of 5 holes (so 10 rows). It's 13 inches wide by 31 inches tall, so it's a good size.

I decided to pop all my proof sets and yank the quarters and it looks damn good so far! I know it's just crappy state quarters, but, as displayed it looks great. Oh, and by the way it was only $30, and I had a 50% off coupon.

If any of you guys live next to a Michael's craft strore go check it out (they sell a limited amount of coin supplies too!).

 

[JamminJ]

Why not just take a break?

 

Coins are nice in that they will not get jealous if you adopt another hobby. Put the coins in a safe place and then go fishing, read some books or learn to play the violin. Wher your interest returns the coins will still be there!

 

-JamminJ