Ed Huskinson
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Joined: 15 Apr 2009
Posts: 318
Location: Kingman, Arizona
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Posted: Feb 17, 2012 14:07 Post subject: Re: Buying minerals as an investment? |
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Right on Joan!! Just do as I do and keep everything you get your hands on. Peter has pointed this out several times in this forum. I've made my share of "mistakes" (haven't we all?), like buying the skeletal galena specimens that Jessica skewered so magnificently. But overall, I've enjoyed everything I have ever acquired, even these galenas, which I consider a tribute to man's ingenuity. Still on the hunt for an Epitonium scalare rice paper copy.
Remember when the theme of the show was AFRICA?. I put in a small display of Tsumeb specimens using the original dealers' label with prices. Thought it would be a giggle to do so. I remember going past my case and hearing someone say "What??!!!??? He paid $12.00 for that dioptase?" I pointed out "Yes, but that was 18 years ago" (or whenever).
It pays to have a good eye I guess.
As for prices, you never know. Like when the Chinese stibnites first showed up. You looked it all over and paid the price for the best specimen you could afford. One of two things would happen. No more would ever be found, and your specimen would appreciate in value (and rarity) greatly. Or, they would mine a bazillion tons more, and you would be able to pick the stuff up for what amounts to pennies on the dollar relative to your first acquisition. You never know, just toss the dice and buy what gives you pleasure.
Remember when the Hotazel rhodos first showed up?? Ridiculous prices (or so it seemed to me, anyway) were charged for these gorgeous rocks. I refused to participate in the feeding frenzy, would not be drawn into it. "They'll find more, lots more of them." was my thinking. Yeah, right. We all know how that turned out, eh?
Now you know why I keep my investment portfolio in a manilla folder labelled "Financial blunders". I've been saying it for years: It's the power of legitimacy. Paying these ridiculous prices for minerals legitimizes the lunacy. Of course, I have to admit that If I had the disposable income, I'd be right in there, swinging for the fences.
Gail: feel free to repost the photo of me in repose in Dave Bunk's booth with the thought balloon that says "I wish I had a billion dollars" (or whatever). I think you were actually reading my mind at the time. Or maybe I was just thinking about a 'burger, I don't know....
That's it, no real point here, other than that I agree with everyone who expressed the sentiment that you should collect for your own enjoyment, and it is nice to share with others through exhibiting and so forth. You may have the world's finest most desirable metaVon Huneyite, so you should share the specimen with the rest of the mineral community, right? If not, then what are you going to do, die with it clutched to your chest?? Better to share, que no?
OK, rant's over. I have no regrets about the 2012 show other than the fact that I was unable to attend the FMF get-together, eat some paella, and extend my best wishes to the retiring curators. I do so now.
Thanks,
Ed in Kingman (well, Shafter, Texas, anyway) _________________ La respuesta está en las rocas!! Estudiadlas!!
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Jordi Fabre
Overall coordinator of the Forum
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Joined: 07 Aug 2006
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Location: Barcelona
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Posted: Feb 17, 2012 14:35 Post subject: Re: Buying minerals as an investment? |
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Ed Huskinson wrote: |
... I have no regrets about the 2012 show other than the fact that I was unable to attend the FMF get-together, eat some paella, and extend my best wishes to the retiring curators. I do so now.
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We missed you A LOT Ed, we wait for you next year...
BTW, talking about next year and considering the success of this edition, we should repeat it with the same format of this year, and to achieve this Gail will publish a post with some details just to avoid to us die by our own success! ;-) _________________ Audaces fortuna iuvat |
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John Medici
Joined: 02 Mar 2011
Posts: 124
Location: Ohio
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Posted: Feb 22, 2012 14:18 Post subject: Re: Buying minerals as an investment? |
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Lots of good advice above. In my own case, mineral and other collecting has passed through many stages, with field collecting being close to the forefront throughout. One nice thing about field collecting is that you have the option to keep the best things collected. Nearly everything I buy is bought because I like it and it probably fills a slot in one of my collection category interests. The more time one spends accumulating information on a subject, especially one that is of great interest to you, the more value conscious one should become. Although awareness of future value possibilities is a good thing to consider, the best route to take may be to buy things you really like, and consider that you have gone through the normal supply and demand route in obtaining it. Then, no matter what the future brings regarding prices, etc., it should remain a valued piece in your collection.
An added note on the highest cost specimens: they are easy to handle regarding volume, but I've had more than one friend who consistently bought low end material in quantity for resale and often did better on his investment than many of the exclusively high-end dealers. (A different way at looking at investing and economics!) _________________ field collector |
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