Budget
0

19 posts in this topic

3,656 posts

This was spurred from another thread

For non-dealers, how much do you spend on coins in a month/year? and how do you decide where to put it? I guess anybody can answer,

Share this post


Link to post
Share on other sites
1,272 posts

I am willing to spend about 2k per year. I do not make it a point to spend it all if I do not find what I want. I am also not scared to spend most if not all on a single coin if I must.

 

I am into colorful toned coins. I love toned copper but I aslo enjoy all denominations.

 

I will purchase colorful copper when I can but it is tough to find certified. Otherwise I will search for a denomination or design I do not own and focus on finding a coin.

 

It seems if I am looking at to many different types at once I find I can not make a decision between two or more coins and wind up passing on them all. By focusing on one type I keep from being overwhelmed as my time is about as short as my budget.

 

Share this post


Link to post
Share on other sites
12,436 posts

$150k per month is about average, unless some nice 18th century gold pops up.

Share this post


Link to post
Share on other sites
4,961 posts

It is about 15K, annually, although I USUALLY use it all, it is NOT written in STONE, unless I find the coins that I am searching for. It used to be VERY EASY to spend that much per year and be in need of more $$$ but, now, as my EWLH set is nearing completion, it is MUCH more difficult to find what I need, since there are far fewer issues that I am looking for. So, in a way, it is nice when what I'm looking for does not come along, b/c then, I am way more prepared for it when it DOES.

Share this post


Link to post
Share on other sites
8,678 posts

Maybe $4K a year. How do I choose what to spend it on? Whatever come along that need. Some stuff that I just like. Problem is a lot of the stuff I need now would take more than my annual budget for just one scudzy low grade piece.

Share this post


Link to post
Share on other sites
723 posts

Thanks for posting this question. It's one I have wondered about from time to time myself. I probably average $350 to $400 per month. Some months I don't spend anything and then I will find one or more coins I like and dig deep. I just have to restrain myself from time to time when I have already found new pieces for the month and something else comes along that would stretch my budget too tight. If I really want it, I then have to make myself sell off a few other coins to help pay for it.

Share this post


Link to post
Share on other sites
1,794 posts

I have an allowance set up for $700/month for my discretionary spending...sometimes that means I have $700 for coin shopping and sometimes that means I have $7 for coins shopping. It makes me look at my individual priorities...for example with Christmas coming up my coin buying power is greatly diminished. I would guess I spend about $3-4k annually.

 

great question btw...I too have been very curious about this topic.

Share this post


Link to post
Share on other sites
17,089 posts

Lately I havent had any budget, but I'm hoping to get back on track. My budget varies from maybe $50 to $100 a month. I get a small Qrtly bonus from my work, and that helps to get things I really want like my 25th sae set and such!!

Share this post


Link to post
Share on other sites
12,436 posts

...forgot to mention, it's an imaginary $150k per month.

 

:( The real budget is "zip."

Share this post


Link to post
Share on other sites
2,543 posts

Photography has gotten so good, I can have a virtual collection, from lots sold at top auctionhouses.I just need to keep my computer working and internet bill paid.

Share this post


Link to post
Share on other sites
14,880 posts

I always intend to spend a certain amount, but the amount I actually spend is usually a multiple of my intended amount. I go through spells - for a couple of months I won't buy much of anything, maybe a couple of small things. But then, within a week or two, I'll buy a whole bunch of stuff.

Share this post


Link to post
Share on other sites
6,129 posts

$20-$30k per year. Often a hard to find coin comes along and other coins and collectibles are sold to fund it. Or a lesser grade example of the same coin is sold. I've done this with a few coins this year.

Share this post


Link to post
Share on other sites
590 posts
This was spurred from another thread

For non-dealers, how much do you spend on coins in a month/year? and how do you decide where to put it? I guess anybody can answer,

 

My monthly collecting budget is set at $750. But I don't spend all that each month, just what I've budgeted for collecting.

 

On average I spend about $200 of that budget.

Share this post


Link to post
Share on other sites
1,741 posts
...forgot to mention, it's an imaginary $150k per month.

 

:( The real budget is "zip."

 

So what your saying is that you roll all of the profits from your books into your coin budget.

 

Share this post


Link to post
Share on other sites
12,436 posts

Well, put that way, it's more like "negative zip."

 

PS: What's "profit" on a coin hobby book?

Share this post


Link to post
Share on other sites
723 posts
I always intend to spend a certain amount, but the amount I actually spend is usually a multiple of my intended amount. I go through spells - for a couple of months I won't buy much of anything, maybe a couple of small things. But then, within a week or two, I'll buy a whole bunch of stuff.

 

I think you could actually make this work Physics....the trick is to make the multiplier a number greater than zero and less than one....Mind you this is a theory only...I have yet to put it in any kind of practical test.

Share this post


Link to post
Share on other sites
15,660 posts

I can only speak prior to this year, when I was spending probably up to $25,000 per year. Don't be impressed though, because I would also sell off something like at least $20,000 per year, meaning my "net" spending on coins per year is more like $4K to $5K.

 

Of course, many of my transactions are or involve trades.

 

This past year of 2012 will see me spend less than $10,000, though.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
0