Coin Collecting...One of the Most Expensive Hobbies?

[Mr. Smith Guesser]

I was looking at a few lists of the most expensive hobbies. And none of them that I saw mentioned coin collecting.

 

A few lists:

http://list25.com/25-expensive-hobbies/?view=all

http://www.therichest.com/luxury/most-expensive/expensive-hobbies-of-the-rich-and-famous/

http://www.investopedia.com/slide-show/expensive-hobbies/

 

Collecting certain coins can be done on a tight budget. But considering that some coins have sold for millions of dollars, does anyone disagree that coin collecting can also be one of the most expensive hobbies?

 

Certainly, collecting coins can be a much more expensive hobby than ice sculpting or ballroom dancing. (both mentioned in one of the lists)

 

Wiki list of most expensive coins sold:

http://en.wikipedia.org/wiki/List_of_most_expensive_coins

 

 

Added: This just stems from a conversation that I had with my brother this morning.

[DaveG]

Well, if you think of it on a "net" basis, coin collecting can be not that expensive because you can sell your coins and recover some, all, or more than all, of your purchase price.

 

Whereas, if you ice skate or dance or something like that, you can never recover the hourly fees you pay to engage in your hobby - rental of the space, instructor time, etc.

[cpm9ball]

If you total the values of the most expensive coins and divide it by the total number of collectors (millions!), the average worth would be pretty low.

 

Chris

[World Colonial]

But considering that some coins have sold for millions of dollars, does anyone disagree that coin collecting can also be one of the most expensive hobbies?

 

I would hardly consider anyone who spends this kind of money to be doing it as a "hobby" Spending that kind of money is an "investment". Per the other examples here, I don't believe the few who spend that amount of money or anywhere near it do it without the intent to get most, all or more of it back.

[TonerGuy]

I have friends that spend tens to hundreds of thousands of dollars a year on golf...

 

I couldnt imagine that but they do enjoy sitting around over a $100 steak recounting a certain hole on a certain course on some far away island. Great memories they have...

 

I have other friends that spend weekends in Vegas in a suite with a lot of booze, drugs and whores that swear by that as a stress relief.

 

And still others that have expensive cars and/or motorcycles they drive on the weekends. Thats how I grew up. My dad always had show cars - a 1953 Corvette, 1957 Chevy, 1957 Chrysler 300 C, 1959 Corvette. I just never got the idea of sitting on a lawn chair in hot blazing sun as people walked up and complimented my car.

 

I choose coins over all of that. Except for the classic cars, all the others are a waste of money in my opinion.

[RWB]

Having an enjoyable hobby can be as expensive or cheap as you wish. As soon as it becomes a competition, reason vanishes and it becomes expensive.

[Nutmeg Coin]

I was at a local park yesterday where the radio controlled plane club meets Sunday morning. I asked about the history of the hobby from the days when you had to construct your own planes out of balsa and tissue kits, with the problematic 2 cycle engines. The electric engine revolution has made the hobby much easier. Rocket launching hasn't changed that much though, a boy scout troop was launching those at the park the day before. I went to a major chess tournament over the weekend, for social purposes, not to play and spoke to some of my chess friends. The game has morphed into a mainly online phenomenon but the physical tournaments give players a chance at big prizes. The same analytical thinking that comes into play in numismatics is vital in chess, but numismatics is not usually adversarial. Hobbies with the sharpest thinking can be win-win situations as long as the participants keep their priorities straight.

[RWB]

"...but numismatics is not usually adversarial."

 

Tell this to the "register set" set.

[Mr.Mcknowitall]

If you total the values of the most expensive coins and divide it by the total number of collectors (millions!), the average worth would be pretty low.

 

Chris

 

I think you just described the present economy and wealth distribution, using coin collecting metaphor math.

 

It also supports reverse supply and demand.

[Nutmeg Coin]

Sometimes I wonder if people are thinking through the effect various hobbies and other interests are having on their talents and life in general. I don't know what the specialist would be to help people sort through the pros and cons for them. Spiritual teacher or life coach?

[Walkerfan]

I agree, b/c out of all of my hobbies----coin collecting is by far the most expensive for me.

[coinman_23885]

It depends on what you collect. If you collect non-top pop U.S. moderns, your costs are much lower than someone collecting AU to MS (or finest available) Flowing Hair coinage by die marriage.

[coinman_23885]

"...but numismatics is not usually adversarial."

 

Tell this to the "register set" set.

 

I agree. Wasn't there someone who started out every set title as "dominating the [insert series] competition?"