Westward Journey Coin and Medal Sets - Increased Mintages

On Thu, 26 May 2005 01:11:03 GMT, Anita said:

On 25 May 2005 16:59:20 -0700, "oly" wrote:

May the mint screw you all royally and forget to send you a small
container or vaseline in the bargain! It's not coin collecting.

No, it's investing. Saving it to sell later or passing it on to the
kids. By the time it reaches the grandkids, it will be called coin
collecting.

Anita

Thank you Anita. I've been involved in collecting in the true sense
of the word for about 35 years, and I have often thought how fortunate
it is that someone, somewhere in the past had hoarded such nice
specimens. Otherwise I wouldn't be able to enjoy them today.

I've bought a few items with full intent of trying to earn a profit.
I don't have any children. But, I'm well beyond the mid-point of life
and I have so many nephews, nieces, and great-nephews & nieces that it
is hard to keep track of them all. I do believe that when they're my
age in 30 or 40 years, some of these current issues will be
appreciated ... even if they aren't worth a fortune. And, maybe
they'll be glad Uncle Vector bought them ; )

On Wed, 25 May 2005 22:07:42 -0500, Vector wrote:
....

I've bought a few items with full intent of trying to earn a profit...

The nice thing about coins is that money earned from an investment is
taxed as a capital gain (or loss, of course). As long as one buys when
the market is down and sells when it is up, money can be made and
taxed at a lower rate than normal income. It seems that coins are
risky short-term, but profitable long-term. I believe that buying them
for future profit is a wonderful idea. I'm not buying much now because
the market is up. Great for sellers; not so good for buyers.

Something that I've learned with mint products. Some of them return
well in a short time. I envy the people who invested heavily in 1999,
2001, and 2002 silver mint sets or Tennessee quarters. These people
are making a huge profit in a short time. Mint products have a market
all their own. Good examples are the mint-wrapped state quarters. It
would be interesting to know how many times a box of quarters changed
hands like a piece of stock.

Anita

On Thu, 26 May 2005 01:11:03 GMT, Anita wrote:

On 25 May 2005 16:59:20 -0700, "oly" wrote:

May the mint screw you all royally and forget to send you a small
container or vaseline in the bargain! It's not coin collecting.

No, it's investing. Saving it to sell later or passing it on to the
kids. By the time it reaches the grandkids, it will be called coin
collecting.

Anita

You might call it "investing so you can afford to collect" :-)

I've made some money off a few items, sold others for cost, a couple
of things for a loss. But the few dollars I've come out ahead helps
justify what I spend on the "collecting" part.


-- Ron K

It's called "The Greater Fool Theory" and goes like "Sure, it's a
stupid item to buy - a mass produced, badly designed and over-priced
monstrocity - but I can find an even greater fool to sell it to at a
mark-up". It's a nice theory if it works.

oly

On 26 May 2005 04:08:18 -0700, "oly" wrote:

It's called "The Greater Fool Theory" and goes like "Sure, it's a
stupid item to buy - a mass produced, badly designed and over-priced
monstrocity - but I can find an even greater fool to sell it to at a
mark-up". It's a nice theory if it works.

Many of the fools are laughing all the way to the bank. Of course,
then there are the people who are left holding things like 2000 and
2004 silver proof sets and Texas quarters. Some things do well and
others fizzle. It would be great to be able to predict which is which.

Anita

The trick is to buy them, sell them and have the next fool's check
clear his bank. Until you've sold, you aren't ahead. I know people
who had truck loads of 1973-S Brown Box Ikes purchased at $10 issue and
they forgot to sell when the price was $110. Actually, the present
market is so hot that these pupsters have come back some.

oly

Anita wrote:
On 26 May 2005 04:08:18 -0700, "oly" wrote:

It's called "The Greater Fool Theory" and goes like "Sure, it's a
stupid item to buy - a mass produced, badly designed and over-priced
monstrocity - but I can find an even greater fool to sell it to at a
mark-up". It's a nice theory if it works.

Many of the fools are laughing all the way to the bank. Of course,
then there are the people who are left holding things like 2000 and
2004 silver proof sets and Texas quarters. Some things do well and
others fizzle. It would be great to be able to predict which is which.

Anita

On 26 May 2005 15:37:36 -0700, "oly" wrote:

The trick is to buy them, sell them and have the next fool's check
clear his bank. Until you've sold, you aren't ahead. I know people
who had truck loads of 1973-S Brown Box Ikes purchased at $10 issue and
they forgot to sell when the price was $110. Actually, the present
market is so hot that these pupsters have come back some.

I noticed that about the Ikes today. It was surprising to see some
dates selling at good prices for PCGS certified coins. The market for
uncertified coins still looked glum.

I have some nice MS and PF silver Ikes that I bought back before I
learned they weren't worth anything. Too bad they aren't certified. It
would be a good time to clear my safe of them.

Anita

On Thu, 26 May 2005 22:56:18 +0000, Anita wrote:

On 26 May 2005 15:37:36 -0700, "oly" wrote:

The trick is to buy them, sell them and have the next fool's check
clear his bank. Until you've sold, you aren't ahead. I know people
who had truck loads of 1973-S Brown Box Ikes purchased at $10 issue and
they forgot to sell when the price was $110. Actually, the present
market is so hot that these pupsters have come back some.

I noticed that about the Ikes today. It was surprising to see some
dates selling at good prices for PCGS certified coins. The market for
uncertified coins still looked glum.

I have some nice MS and PF silver Ikes that I bought back before I
learned they weren't worth anything. Too bad they aren't certified. It
would be a good time to clear my safe of them.

Anita
I've been looking for some nice proof Ike's if your looking to sell
single's.

--
dw

I've been looking for some nice proof Ike's if your looking to sell
single's. ??

I've been watching proof certified Ikes on Teletrade, and they are
still dirt cheap. In fact, the key date (1976-S Type 1 clad) has been
selling for less than usual lately.

Regards,
Tom

On 26 May 2005 04:08:18 -0700, "oly" wrote:

It's called "The Greater Fool Theory" and goes like "Sure, it's a
stupid item to buy - a mass produced, badly designed and over-priced
monstrocity - but I can find an even greater fool to sell it to at a
mark-up". It's a nice theory if it works.

The free market,,, ahhhh what a wonderful invention.


-- Ron K