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Find the Money One Way or Other
March 04, 2010

When you buy coins, do you find yourself saving up for specific things beforehand, or do you find something on the bourse floor or online, decide to buy it and then figure out the finances later?

I ask this question as a variation on a perennial theme. I have proposed from time to time in my Numismatic News column that collectors should put a hobby budget together.

Set a figure. Say to yourself and most importantly, other family members, “I plan to spend X dollar on coins this year.”

That means you won’t have to feel guilty about making a purchase. The money will have been planned and set aside ahead of time.

No? It doesn’t work that way?

That explains all the collectors who are financing their hobby purchases as vest pocket dealers.

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About the Author
David C. Harper has been a coin collector since 1963. He joined the Krause Publications editorial staff in 1978 and is currently editor of Numismatic News and World Coin News. He also edits two books annually, North American Coins & Prices and Coin Digest. He is the author of the Class of '63 column that runs each week in Numismatic News. His first bylined numismatic article appeared in the June 1971 issue of Coins Magazine and his various Krause Publications assignments included a stint as editor of the magazine 1980-1983. Harper received a bachelor of science degree from the University of Wisconsin-Oshkosh in 1977. He had a double major of journalism and economics.

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