Means to an End... posted by DrDarryl
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I've been collecting and selling coins from my collection as a means to an end ....

 

Rare coin collecting has been a very enjoyable and profitable hobby for me. I have been collecting and reselling rare coins as a means of supplementary support while pursuing each of my academic degrees. I have four conferred academic degrees, so this means to an end has really helped me out. My degrees include (from lowest to highest): AAS in Electronic Technology, BS in Computer Science, MS in Systems Engineering and a PhD in Systems Engineering.

 

At times it was very hard to let go what I collected and cherished. Each time I sold a piece from my collection, I would comfort myself with the idea that I will purchase a similar coin in the future to rebuild my original collection.

 

Lately I have been inquiring about replacing a few of my territorial gold pieces and have been shocked in the increase in value. Yes, the price of gold has increased. But, the rarity of the coins has also boosted their prices.

 

The below scan is of my 1851 "slug" that was once in my collection and was sold to support me in pursuing my MS degree at Johns Hopkins University. This slug has increased over 346% value since I owned it. Its catalog price is hovering at $45,000 level as of today. In 2001, I originally paid $13,000 for this beauty.

 

I read Dr Kagin's book, Private Gold Coins and Patterns of the US (1981). He placed an R6 rarity (13 - 30 known pieces) and it matches current population reports. An XF40 sold in 2011 for $54,625...yikes!

10900.jpg

 

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2,635 posts

Doc,

I too sell coins as my collection grows. Not at a high a level as your 1851 slug but your sale was a good one in my book. Your 1851 brought cash for schooling. The coin can be replaced in time but the knowledge your coin purchased is beyond value.

 

Good luck on your future coin replacements.

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I agree with Six Mile, besides, the increased earnings from that newly minted PhD should enable you to easily purchase another one eventually and leave you with cash to spare afterwards. Congradulations on your achievement! :)

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I too have sold my collections when needed. My greatest regret was in 1996 I was diagnosed with my first bout of cancer and was forced to sell my complete type set of Confederate currency. among my choice notes was the Criswell plate note for the $500 Montgomery, an UNC. $1000, and an EXF Indian princess. Many times I have wished to be able to get my set back but I don't think that will ever happen with the increase in prices. I now will content my self with what I have now.

Edited by wheat'swheats

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If per chance I become unemployed, I tell my wife we can live off my collection for a good long time. In the end, as much as I hate to admit it, sometimes certain things in life are more important than coins. Collecting coins is a means to have fun and build equity at the same time and if called upon can finance other things in life (education, car, house,etc).

Gary

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