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When investing in tangibles I believe we need to add items that we enjoy. I did not see that concept in the Nine Basic Rules. I do remember seeing this posted here in the past.
If a guitar says Martin on the headstock it will most likely hold some value and if it doesn’t I will still enjoy it.
A recent article talked about investing in tractors. I agree, old tractors are very interesting and they hold value. If not they can be used to cultivate crops or be driven by the grandchildren.
I am also drawn to old tools at garage sales. I went through a pipe wrench stage. I have a few Ridgid wrenches. I also walk straight to any cross cut saw I see. I have a friend who cannot ignor any piece of American pottery. I tend to stay way from fragile stuff as I am not graceful.
Holding a silver coin in my hand is enjoyable too. I often wonder where that coin traveled to while in circulation. A worn quarter from the 40s or 50s may have been held by an American soldier overseas.
How about old family Bibles? It occurred to me that if I see one at a contracted estate sale or auction I might purchase it and reconnect it to a family member. A little investment in that family would definitely be tangible.
Same here. I get quite a bit of satisfaction in collecting certain things. I’ve had to train myself to ask four questions before buying any tangibles. First, is it easily convertible to cash in almost any economic climate without a high risk of significant losses? Second, is there a significant market for the class of items I’m collecting? Third, do I have a reasonable assurance the items I’m collecting will continue to increase in value over the long haul (at the very least a hedge against inflation). Fourth, can it be stored securely for a relatively low cost? If it doesn’t meet this simple test, I don’t touch it. It means I had to drop a few categories of items I like to buy and liquidate those possessions, plus eliminate impulse buys. I focus on just two items now. The first is coins (graded early American gold/silver and silver half dollar commemoratives). The second – which I’m not yet very knowledgeable about is firearms. I have a big soft spot for 1970s pickup trucks and they seem to be going up rapidly every year, especially 4WD models. But that particular item doesn’t meet my test for ease of storage. One other thing – my wife and children need to be educated on how to offload these possessions at favorable prices should anything happen to me. I’ve seen so many people get taken in by dealers looking to make huge profits by buying out estate collections. I’d rather have my family members sell at higher prices even if it’s via online venues.