Collecting and financial constraints/downturn.

I'll admit I've struggled to post this, partly due to pride or whatever perhaps, but it's really getting to me. I've probably started the post 5+ times but never got around to hitting send.

When I first started collecting it was new and exciting, the history of the coins and learning everything was amazing, but more importantly I had MONEY, and could actually acquire some super beautiful coins luckily.

But life has its twists and turns, and illness + brexit has meant some nasty financial downturn meaning I don't actually have the money to buy anything good. I may even need to sell some stuff.

The result.... collecting is somehow much more stressful and less fun, I don't have the joy of receiving that new coin from auction and sorting it out, or machining new drawers for my collection. I just have the current collection collecting dust, whilst I wistfully glare at it some days....

You guys have been collecting way longer than me. You must have encountered this. Thoughts?

Quote: "oggy"​I'll admit I've struggled to post this, partly due to pride or whatever perhaps, but it's really getting to me. I've probably started the post 5+ times but never got around to hitting send.
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​When I first started collecting it was new and exciting, the history of the coins and learning everything was amazing, but more importantly I had MONEY, and could actually acquire some super beautiful coins luckily.
​
​But life has its twists and turns, and illness + brexit has meant some nasty financial downturn meaning I don't actually have the money to buy anything good. I may even need to sell some stuff.
​
​The result.... collecting is somehow much more stressful and less fun, I don't have the joy of receiving that new coin from auction and sorting it out, or machining new drawers for my collection. I just have the current collection collecting dust, whilst I wistfully glare at it some days....
​
​You guys have been collecting way longer than me. You must have encountered this. Thoughts?

​Absolutely! I've been collecting for the last 26 years and a couple of years ago I started re-evaluating whether I'm still getting joy out of this. The catalyst for that was that I just went back to school and suddenly I found myself in debt (and still am). Secondly, there was an explosion of commemorative coins from India and Europe (my 2 priority collecting areas). Thinking longer term given that I'm single right now, I wonder how can I pursue this financially with a family et all. I had to take a mostly obligatory break in the 2013-2014 period as I pursued school. I figured I'll just sit with what I have, and let me see if the collecting bug comes back.

Now that I'm back into money and I've waited it out, I'm again back to collecting. But the last few years has made me think how to pare back, what will I do with my collection years from now and whether I'm ready to sell parts of my collection so that I can re-orient to a point where I don't feel I'm paying ridiculous amounts of money for pieces of metal.

My advice to you is to sit with your collection for another couple years, sell off what you are sure you don't want and see whether financially things change for the better (which I'm sure it will). Once things have stabilised and quietened down, if you don't feel you are going to get any satisfaction from coin collecting going forward, start making arrangements to sell. But above all, don't give in to a distress sale!

Luckily I have not encountered that, but I would say it's not collecting that is stressful but your situation. Looking through your collection should be a release from stress rather than a source of stress

Ashlobo, has some very good advice, and this has been brought up many times. The best thing to do is to put them up for a time, and then come back later. It seems people say its best to wait two or three years before selling out. Usually after a long wait, people get back into it again. Just take a break!

I've only been collecting for a little over a year, but even so it comes and goes in waves. I splurged a bit in January and so I've taken the last couple of months easy - no eBay or major shop purchases, just swaps where my only current outlay is postage.

When cash flow prevents acquiring new coins, that is the time to admire your existing coins! (The MPCC contest has been a good opportunity to pore through my binders trying to decide which coins to enter.)

It's happened to me in the past. Having been in a construction trade meant there were plenty of ups and downs.

just remember what you've built. I've sold a lot of minor collections at some random times and it's a little hard but keep a target in mind. I'm heading into decades of financial constraints compared too the last 3/4 years I've enjoyed but I've deliberately left myself some small west/ East African coins and plenty of other coins from around the globe for the sub £50 category so the collecting shouldn't suffer too much.

Life is made of up and downs.

A coin collection is fortunately an hobby that allows you to downturn with finantial return according to your needs. No money, no addictions. And hobbies are nothing more than addictions, leveled by the sustainability of your pocket. If there is no joy, use the money for anything and better days will come.

As it has been said, when there is nothing new to buy, it is time to look to what you have and choose - whether if that item is important for you or if you may leave it for someone else.

For what it is worth, my advice is "Change is as good as a rest."

Collecting is easy when you have plenty of disposable income. "Easy" isn't very satisfying though.

Now you'll have to think outside the box, perhaps refocus your collection until things improve. Silver and gold coins are for better times, concentrate on the more humble choices. People overlook high value base metal coins every day but nobody is going to sell a Sovereign without doing a bit of research.

Your new currency is knowledge. It's far more rewarding.

Hey oggy , it is hard when life turns on you. Another killer for the joy of collecting are the distress sales. Take your time and think. I still have nightmares from some of my distress sales. But it had to be done and it is what it is. But I went back to when I first started to collect , PENNYS AND 1 CENTS. They are low value and no one really goes for them. You can find really good deals on them. The low value coins have a lot to offer. They are being removed from service now. A lot of different types and errors to find. Good hunting Iam still working on my full set of German Pf, 1,2,5,and 10. I think I have my 1 and 10 PF done. That is over 600 different coins. And they make great swap coins. There is less value so less stress in mailing. And no rush to put up in flips if money is low. And now that I can get nicer coins , I would rather get my pennys. Iam a full penny nut now. I find it strange now. This week I got a nice US silver dollar from the 19th century. Just to put silver away. But really got happy over a South African 1/4 d from 1958. And still have the SA coin on my desk. The low value coins to me are real coins, the back bone of money. They made a difference for someone life. Well not as much now.
But sit on them and take your time. You take care of yourself.
yours daryl