MONEY
I’d Rather Buy Rare Coins Than BitCoin
Rare coins can be a hobby and an investment, right?
The picture above is of a U.S. coin made in 1851. It had the purchasing power of $2.50 and was known as a “quarter eagle” because a ten dollar gold piece was called an eagle. It is 90% gold, 10% copper, and weighs 4.18 grams. With gold at around $2,000 today, it’s bullion value is about $270.00. There were 1,546,935 of these stamped out in 1851. I paid $395.00 for this particular coin in 2014 and it’s only worth a little more than that today.
Had I bought $395 worth of BitCoin in 2014, it would be worth more than $40,000. I guess that settles that, right?
Nope, I’d rather have the coin.
Now, let’s have some full disclosure. I have bought and sold some BitCoin and other crypto. I’ve made a little money from that, but not tens of thousands — more like a few thousand dollars. As of this writing, I own only 0.05 Ethereum and nothing else. So far I’ve lost $71.00 on that purchase.
I had actually forgotten all about until I checked while writing this; I’ll sell it before I type the next sentence.
There, that’s done. I’ll reinvest the money in stock on Monday.
