Got Change?

Do you collect things, or know anyone that does? A couple people in my family collect various things, mostly for personal enjoyment. But many people believe they will make money after amassing a large collection of valuable items.

In many cases this comes in the form of money: coin collections. It makes sense to collect money right, because it will always have some value. Well, the natural inflation of the economy and depreciation of the dollar are common arguments against this. Many people compare collecting coins to having a savings account, with the intent of making money. Sure, you will add cents and dollars over a long period of time, but the value of the collection decreases as well. The key then, is to collect coins that will actually appreciate value.

Walter J. Husak, owner of a Florida Aerospace company, seems to have found the right coins. He recently sold a collection of 301 pennies. Some of the coins include a 1793 and 1794 cent pieces, the first having been minted only once. If this is boring so far, the price isn’t; Husak made $10.7 million.

….I think I found a cool hobby…

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Published in: on February 17, 2008 at 4:52 am  Leave a Comment  

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