A Case Study in the Decision to Divest from Numismatics
I collected coins for 40 years. This is the story of why I decided to stop, and sell.
I was an avid coin collector for over 40 years. I collected everything from modern commemoratives to the older dimes, quarters, and silver dollars. And, yes, I especially loved the older gold coins I acquired over the years.
So why did I sell my coin collection after all these years of passionate collecting? Well, I finally came to the realization that while I loved the hobby, I was not financially gaining from my investment in the coins.
I had to face the fact that many of my Morgan Silver dollars, my classic American gold coins, like $2.50 Indians and even $20.00 gold pieces, were worth the same amount today as they were in the 1980’s.
I always hoped that my kids and grand kids would get into the coin collecting hobby for fun and profit. However, like many young people today, they were simply not interested.
Back in the day, my generation collected everything.
It’s just not the same today.
When you can find any coin you ever wanted with just a few clicks on the Internet, there is simply no thrill of the hunt. It’s just buying something. I have just watched the collectible value of coins diminish over the years.
It is not that I wasn’t making any money. Some of the rare coins I purchased did go up in value. (Certainly gold and silver bullion going up helped.) However, in the final analysis, I really wasn’t making money from from my rare coin investments.
I finally owned up to the reality that I am not made of money, I simply couldn’t continue to have the investment in my coins without some financial gain. I made the decision to divest myself of most of my collection so that I could re-invest it.
I sold my coins in early 2016. I put about half of the money into a real estate investment / rental property. Not only did the home promptly go up in value, but I now have a positive income of over $475 per month from the rent. I tool the other half of the money and put it into the stock market. I’m already seeing a huge return on my investment, appreciation that I never saw while I was in still holding onto my coins.
I was hesitant at first, but in hindsight it was one of the best decisions I’ve ever made.
The process of selling couldn’t have been easier. I simply gave American Rarities Rare Coin Company some basic info on my collection. A cheerful man gave me a call the same day to discuss my list and ask a few questions. They got back to me with values that were in line with the market. In just a few days I had a buyer visit my house, helping me take a full inventory followed by an immediate cash offer. They beat the other offer I got by far, without ever seeing it themselves.
Just sitting on those coins was a source of stress. Tracking their value was difficult and, even when I got a grasp on it, the resulting values looked dismal. I couldn’t be happier to have consulted an expert in the market to get a fair shake, only happier to reward their hard work on my behalf by selling to them.
I made more money in the past two years than I made with my coins in 10 years.
I still love coins and have a few. But the money in the bank and an investment income feels much better.
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