5 thoughts on “I thought this article was about me.”

  1. Alas, I sold my dime and quarter collections in March. All silver, they gave me melt value but I didn’t argue, just grateful there was enough money from them to eat for a few weeks.

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  2. KayofMT:
    Alas, I sold my dime and quarter collections in March. All silver, they gave me melt value but I didn’t argue, just grateful there was enough money from them to eat for a few weeks.

    I am still here, Kay. 😉

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  3. 10 Cents:
    I wonder why people pay so much for stamps and coins.

    There are many reasons rarities such as coins and stamps are valued so highly.

    First of all, why do people collect anything?  Because they like it, and they value, for example, having a complete set of something.  Financially, a complete set (for example, every date and mint mark of a given type of U.S. coin) is generally worth a lot more than the sum of the individual coins sold separately, and so collectors will pay a premium, sometimes insanely high, for the one or two very rare pieces needed to complete the set.

    Some collectors are attracted by the beauty of the pieces.  The 1907 St. Gaudens US$ 20 high relief gold piece is considered by many the most beautiful coin ever struck.  In fact, it was too beautiful: the very high relief made them difficult to strike and prone to damage, and they were only issued in 1907.  If you fancy one in near-perfect condition, it will set you back around US$ 50,000.

    The good news that the value of such rare coins is very stable.  Stocks and bonds go up and down, but these rare items tend to hold their value over long periods of time.  They are not a particularly good investment, as they do not appreciate rapidly, but they are an excellent store of value.

    They are also highly portable which, if you’re worried about grabby governments, may be of value.  You can stuff a modest number of rare U.S. coins with market value between US$50,000 and US$150,000 among the dirty underwear in your suitcase and cross almost any border without difficulty.  When you get to your destination, they can be turned into whatever currency or asset you wish with a sales commission between 5% and 10%.  (For this, you don’t want the really rare stuff which makes the news when it’s sold: just the top tier of coins bought and sold every day without publicity.)  Almost everywhere in the world, purchases and sales of rare coins are private transactions which do not involve the reporting or tax withholding of securities trades.  You are, of course, responsible for taxes on profits and losses from such transactions, and I’m sure you will take great care to report them to the competent authorities—the incompetent authorities?—it’s up to you!

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