WHAT TO DO, WHAT TO DO!? posted by COLLECT-A-BILLS

[CSJournals-migration]

THINKING OF SELLING MY BASEBALL HOF COINS!

 

I WENT TO THE BALTIMORE WHITMAN COIN EXPO, AND WAS LUCKY ENOUGH TO GET THE BASEBALL HALL OF FAME COINS AND GET THEM GRADED AS "OPENING DAY RELEASES". BUT, THE DELIMA IS, I AM BEHIND ON MY MORTGAGE AND MY MORTGAGE HOLDER HAS OFFERED ME A REALLY LOW BUYOUT AND I WOULD OWN MY HOUSE OUTRIGHT!

 

WELL, NOW THE PROBLEM IS COMING UP WITH THE CASH TO DO SO, I HAVE SOLD MOST OF THE COINS FROM THE EXPO ON EBAY, I AM NOW DOWN TO MY PERSONAL COLLECTION COINS MINUS THE PROOF GOLD, HAD TO SELL IT TOO TO MAKE THE MONTHLY BILLS! I STILL HAVE THE MS GOLD AND BOTH $1's AND 1/2's ALL 70 OPENING DAY ISSUES, PLUS I HAVE THE EARLY RELEASES NOLAN RYAN FACSIMILE SIGNATURES MS/PF GOLD IN 70'S.

 

SO THE QUESTION IS DO I SELL THEM TO WON THE HOUSE OR DO I HOLD THEM TO SEE IF IN THE FUTURE THEY BECOME MORE VALUABLE? ANYONE OUT THERE WHO MAY HELP WITH THIS QUESTION, PLEASE FORWARD YOUR ADVISE, I KNOW THE HOUSE IS MORE IMPORTANT, BUT THE PREMIUM THAT THESE COINS HAVE AQUIRED IN THE SHORT PERIOD SINCE RELEASE LEAVES ME WONDERING SHOULD I HOLD OR FOLD?

 

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[Walkerfan]

There's NO COMPARISON-----sell them so you can own the house!!! You can always buy them down the road as they are FAR from being TRULY rare or irreplaceable!!

[coinman_23885]

I can't believe there is actually indecision at all. OP, if the lender forecloses and sells the home with a deficiency, then you are still liable for that deficiency which could only be cleared through settlement (without anything to show for it at that point) or bankruptcy, and you might very well lose the coins anyway in the latter. Obviously sell the coins, and save the house. As Walkerfan points out, you can always buy them back later.

 

On another note, be mindful that a settlement agreement on the house may also have tax consequences - so you might want to sell off your other assets to prepare for the tax man or be sure you can arrange payments to Uncle Sam.

 

Edited: An while no one here has a crystal ball, given the hype surrounding these coins, speculation could be driving the prices high in the short term - they could easily crash in the future.

[coin928]

Edited: An while no one here has a crystal ball, given the hype surrounding these coins, speculation could be driving the prices high in the short term - they could easily crash in the future.

 

I agree. I've been caught holding coins like this well past their peak. I don't have a crystal ball either, but I suspect these coins are worth more today than they will be this time next year..

 

Sell the coins, save the house! (thumbs u

[Six Mile Rick]

As I see it you have plenty of nice coins!! Your mortgage should be a breeze, selling off a few coins. You can always purchase more coins when you have no more mortgage payment. I sell coins all year to help pay off other investments.

 

Rick

[wdrob]

 

BUT, THE DELIMA IS, I AM BEHIND ON MY MORTGAGE AND MY MORTGAGE HOLDER HAS OFFERED ME A REALLY LOW BUYOUT AND I WOULD OWN MY HOUSE OUTRIGHT!

 

There is very few greater feelings then no longer having a mortgage payment and owing nothing on your home/property.

 

No dilemma here to me. No brainer. Pay off the mortgage.

 

The only drawback (if one even wishes to call it that) to not having a current mortgage is that the credit bureaus actually penalize you a few points by not having an active mortgage.

 

I know that sounds insane but I have credit check monitoring and receive reports monthly as well as every time there is some activity. On every report it lists not having a current mortgage on my home as a reason for a few points lower that otherwise.

 

But hell, if you're behind now, your credit report may be the least of your immediate concerns.

 

 

[sparky1x-migration]

Lets explore this "How did you get behind in your mortgage payments"? Do you also have credit cards that you have payments? I believe you put buying coins before your bills!

 

Do you remember this-------------

 

I WOULD FIND AN EXCUSE TO GET OUT OF IT, BY SAYING I DON'T HAVE A PROBLEM, OR SAY I CAN HANDLE IT. BUT THE GOOD PART IS THAT ALL THE MONEY I SPEND, IT'S ONLY A FEW LISTINGS AND A COUPLE OF DAYS WAIING ON EBAY TO GET MORE THAN I HAVE INVESTED BACK!!! THATS THE REALLY GOOD PART OF MY ADDICTION. THAT IS HOW I PRESENT IT TO MY WIFE WHEN SHE QUESTIONS THE AMOUNT OF MONEY I SPEND ON MY ADDICTION TOO! BUT, TO BE HONEST SHE REALLY DON'T EVER SAY MUCH ABOUT IT, SHE IS SUCH A GREAT WIFE, I LOVE HER SOOOO MUCH!!

 

I believe there needs to be some intervention from your wife!!!!

 

Priority is bills first then your perks, Collections, etc.

 

Just an opinion and all have one, you know what I mean?

 

So, I agree that you do need to sell.

 

 

 

 

 

 

 

 

 

[Ultra Cameo Collection]

I say you gotta have priorities.

 

If your priority is to live under a bridge with your coins in a shopping cart then I say continue to buy coins and invest in a weapon or two. You are going to need them!

 

If not then pay off your mortgage and take a bit of a hit on your collection for the time being.

 

You can't live in your coins. Well if you had enough of them to make a sort of igloo out of them, build a fire in the center and just stay warm. Just Kidding, or am I?

[CBC]

Two points:

 

1. The value of most current Mint products (and I think this will include the HOF stuff) peaks shortly after release and falls in value for years after that, except for when there is a really small mintage. Look at the 2011 Silver Eagle sets - $300 issue price: MS/PF 70 sets were selling for $3,000+ immediately after release, $1,500 a few weeks later and $1,000 or less now. The 1995-W Silver Eagle is one of the few exceptions to this. If I had one of these HOF coins, I would be selling now.

 

2. If I was behind on my mortgage payments, I wouldn't be asking this question. I also wouldn't be buying any coins.

[COLLECT-A-BILLS]

thanks for the suggestions, they will be listed today, anyone interested?