THE MONSTER - "Making Noise"

Joined: June 18th, 2007, 6:34 pm

April 27th, 2009, 5:52 pm #11

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
The answer to this comes down to your ability to manage your own finances and debt load.

As stated, the home equity loan is one option. A $20,000 loan, at 6% interest, for 15 years, costs about $170 a month to service. You can pay it off by stopping or reducing the purchase of new cards. But you have clearly stated that you are averse to incurring new debt and that's a sign that you know yourself pretty well.

However, as Johnny also stated, selling them as a group will never maximize your return.
Last edited by jvb6034 on April 27th, 2009, 6:01 pm, edited 1 time in total.
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Joined: January 29th, 2008, 8:09 pm

April 27th, 2009, 5:56 pm #12

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
In response to Michael C's statement:

"With all due respect, people who make bad choices in situations like this are a major reason why our country is in such bad shape. People wanted to remodel their kitchens, refi'ed their house to a cheaper mortgage and now can't pay their bills. They have a nice kitchen, but now the bank owns the house.

My vote is sell the cards if you want to spend new money. Don't add any more debt. They are just cards."

I guess you didn't read my entire post. My wife and I put money aside (cash) to save up for our project. We have paid for the entire project in cash. No loan. No debt. Now, we want to upgrade a few more things and will need some more money. Instead of putting everything on a credit card or taking a home equity loan, I am trying to stay with no debt by selling my cards. So, please don't put us in the same boat as people who have bought houses way over their means and defaulted, etc., etc. As I also stated, my wife and I don't owe a single penny to a credit card company and we still managed to put money aside to start this project.
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Joined: June 9th, 2008, 1:52 pm

April 27th, 2009, 6:06 pm #13

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
Sell them.........right here on Net54. Avoid ebay and their fees (you'll get better prices here).
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Joined: October 19th, 2004, 12:02 am

April 27th, 2009, 6:06 pm #14

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
Phil- I would vote for selling the cards. A collection is great but your home is more important.

If you don't need to sell all of them I would keep the best ones and sell as much as you need to from the bottom up. T206's are not hard to replace; they are plentiful and just cost money. You may have a situation down the road where you have a little extra cash and that would be a good opportunity the repurchase the ones you sold.
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Joined: February 15th, 2007, 7:35 pm

April 27th, 2009, 6:10 pm #15

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
I would vote for selling the cards vs a loan.

Who knows, you might be able to pick them back up later at a cheaper price!?!?!


marty
Last edited by martyogelvie on April 27th, 2009, 11:50 pm, edited 1 time in total.
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Joined: January 23rd, 2005, 5:37 am

April 27th, 2009, 6:17 pm #16

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
I have much empathy for your situation in these most difficult of financial times. Still,since you have worked so hard toward nearing the taming of the monster and have wonderful support at home, i would suggest that you consider another alternative long and hard before letting go of your beloved collection. Obviously, you have handled your financial and family wisely and
astutely and I am sure that you will arrive at the proper decision in due course.
I still must add my favorite dictum to the discussion:
The Monster wants you to quit; don't listen to it.

I recognize full well that in your case, the Monster is one of a number of very,very important voices.

all the best,
Barry
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Joined: September 7th, 2005, 4:38 am

April 27th, 2009, 6:22 pm #17

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
What exactly is the home improvement that you guys are making? Is it really needed? Will it add much value to your home or bring you lots of happiness?
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Joined: December 23rd, 2008, 4:03 pm

April 27th, 2009, 6:22 pm #18

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
I'll go against the flow, I once had to sell a coin collection even though I had no choice at the time I regret every minute of it, having some debt is not an issue (especially if this improve the value of the house, look at it as an investment) the problem is having to much debt which doesn't seem to be your case.

Just my 2 cents (borrowed).
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Joined: January 24th, 2008, 9:38 pm

April 27th, 2009, 6:27 pm #19

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
Phil,

Are your only two options really taking out a loan or selling your T206 set? Is there anywhere else you can sacrifice to get the home remodeling you want completed without giving up your prized T206s?

Do all the upgrades really have to come at once? Or can you spread them out over some period of time?

Could you downgrade your car and save on the monthly payment (if you have one) or get some extra cash that way?

Is there anything else of value that you can sell, or go without, to be able to afford these remodeling upgrades? Big screen TV? Stereo? Golf clubs? Eliminate the movie channels on cable/dish? Drop the cell phone(or go with pre-paid perhaps)? etc?

Can you and/or your wife take on a small side job, or work a little overtime or something, to pay for the upgrades?

If you haven't done so yet, maybe you could prioritize the upgrades and figure out what are the top things you'd like to have and match that up against the $ you can come up with using various options. You may end up realizing that you can go without some of the upgrades that you perhaps originally thought you had to have.

My wife and I are in the process of getting out of debt (except for our home loan which we also plan to pay down drastically starting next summer hopefully) ourselves while also trying to look forward to getting a new house in the next 2-4 years. So, I completely understand not wanting to take on a new loan. Also remember that you have to keep some fun stuff in your life or it's kind of pointless. It sounds like your T206s are one of your outlets for relaxtion and fun. Just some ideas... good luck!

---Donny Muth

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Joined: January 9th, 2008, 10:44 pm

April 27th, 2009, 6:31 pm #20

I have been collecting a graded T206 set for a little over 3 years now.....and it is "making a lot of noise". Here's my situation: My wife and I are having some construction done at our home and we put money away to pay for it with cash. No loan. No debt. To get it to the point we now want, we need some more money.

My two choices are:
Take out a small loan (which I really, really don't want to do)
Or
Sell my T206 set

I just finished paying off all of my credit cards last month and really enjoy not having a credit card payment. So do I know take out a loan? (Under $20,000) or sell my set?

I know most will say, hold onto the cards, but at 40% completion, I will be constantly buying more cards and then paying a loan payment at the same time.

If I decide to sell, what would be my best option? I will only sell them if I can do it as one group. I will never break it up. Right now I have 214 graded T206s. All but 2 are SGC50 (PSA4) or above. Just 2 at SGC40.

I look forward to feedback/thoughts. If anyone is interested, please email me at my work email: phil@eastcoasttrophy.com

Thanks guys! This is tough.
Keep the cards. With the money you said you are investing in cards each month put that right towards the a loan. If it becomes hard to keep up with loan payments. Then you can always sell off cards. Hopefully it doesnt and you can continue to put whole set together. Good Luck
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