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 Replies: 49 / Views: 4,219 |
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Pillar of the Community
 Egypt
3470 Posts |
Quote:
merclover: A lot of the messages I'm reading in this thread are along the lines of "I wish I bought more 20 years ago when prices were low." The lesson that should be learned from these "mistakes" is that NOW is the time to be buying... time goes on whether we want it to or not, and in 20 years don't be one of those people who then are saying "I wish I had have bought more coins back 2011." History has a way to repeat itself unless you learn from it!
Buying bullion seems to me to be an unpredictable crap shoot, but regular collector coins never seem to fall out of favour. I remember looking at lower grade 1916D Mercuries about 15 years ago, but passing on them because I thought they were just too expensive. Fifteen years ago they were about half what they are now. Where will be in 15 or 20 years from now? Not cheaper than they are right now, I can say that for certain! I cant say more: 1- "NOW is the time to be buying... time goes on whether we want it to or not, and in 20 years don't be one of those people who then are saying "I wish I had have bought more coins back 2011." History has a way to repeat itself unless you learn from it!" 2- If you have the money, invest part of your coin budget in bullion |
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Pillar of the Community
Egypt
3470 Posts |
Quote:
tartop: Back in the mid 90's my 10 year old Son got interested in collecting sports cards/sets looking back now I wish we would have gotten into coin collecting instead of wasting those $1000.s of dollars on sports cards that were over produced at that time, so now there are monster boxes of cards and many sets just stored away since he lost interest so did I.... "Collecting coins is not a fashion, so you choose a great hobby"  |
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Pillar of the Community
Egypt
3470 Posts |
Quote:JackB: Ah, foolish youth - I woulda hung onto all the beautiful US coins my grandmother gave me in the 50's, and the BU examples I bought in the 60's at Jordan Marsh in Boston, instead of frittering them away. I wish I was looking at them all now, instead of trying to remember what they were! That's pretty much it, I think... wait, there's the 2 wives, but that's another forum... "You are young, and you are allowed to do mistakes But dont repeat them nor ours"  Edited by EgCollector
10/29/2011 8:28 pm
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Pillar of the Community
United States
1064 Posts |
EgCollector; you are wise beyond my years! LOL  |
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Pillar of the Community
Egypt
3470 Posts |
This is the summery of all your mistakes: 1- "Knowledge is King" and "Education is the key to collector success" 2- Buy if you can afford it. 3- One way to collect is: Try to focus on quality instead of quantity. 4- The other way is: Fill common holes right away. It focuses your collecting efforts on the handful of tougher dates, and gets you acquainted with their scarcity. 5- Try to share your passion for the hobby with someone you trust. 6- Again "Knowledge, Knowledge, Knowledge.... you have to read, ask and listen to more experienced collectors" 7- It's very hard to sell coins for what you'd pay for them. So wait for ultra-bargains, unless it's a really tough coin/date. 8- In particular, roll-search more early on and try to find stuff for "free" from circulation. 9- Try to find your theme in collecting, the earlier you find it the better your collection will be. 10- Try to buy all the Key dates instead of wasting money on other (frivolous non-numismatic) things. 11- Dont you ever clean coins. 12- If you dont know what to do, PLEASE ask the right person. 13- There is always the easy way and the hard way, its your choice. 14- Again and again "Knowledge". 15- Sharing your coins with a more knowledgeable/experienced collector will give you more information as well as proper guidance. 16- Hold high value coins while wearing cotton gloves or at least from the rim using clean, dry hands. 17- NOW is the time to be buying... time goes on whether we want it to or not, and in 20 years don't be one of those people who then are saying "I wish I had have bought more coins back 2011." History has a way to repeat itself unless you learn from it! 18- If you have the money, invest part of your coin budget in bullion. 19- Collecting coins is not a fashion, so you choose a great hobby. 20- You are young, and you are allowed to do mistakes But dont repeat them nor ours. Still waiting for you mistakes to add |
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Pillar of the Community
Egypt
3470 Posts |
Quote:EgCollector; you are wise beyond my years! LOL  |
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Pillar of the Community
United States
2044 Posts |
I have a couple more for you.
1.)Be careful about who you show your coins to because they could end up being stolen.
2.)Drugs and coin collecting doesn't mix at all. If you do drugs, there is a good chance you'll sell your collection for it.
Trust me, I learned the hard way and made the biggest mistakes of my life in regards to both of those.
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Pillar of the Community
Egypt
3470 Posts |
This is the summery of all your mistakes: 1- "Knowledge is King" and "Education is the key to collector success" 2- Buy if you can afford it. 3- One way to collect is: Try to focus on quality instead of quantity. 4- The other way is: Fill common holes right away. It focuses your collecting efforts on the handful of tougher dates, and gets you acquainted with their scarcity. 5- Try to share your passion for the hobby with someone you trust. 6- Again "Knowledge, Knowledge, Knowledge.... you have to read, ask and listen to more experienced collectors" 7- It's very hard to sell coins for what you'd pay for them. So wait for ultra-bargains, unless it's a really tough coin/date. 8- In particular, roll-search more early on and try to find stuff for "free" from circulation. 9- Try to find your theme in collecting, the earlier you find it the better your collection will be. 10- Try to buy all the Key dates instead of wasting money on other (frivolous non-numismatic) things. 11- Dont you ever clean coins. 12- If you dont know what to do, PLEASE ask the right person. 13- There is always the easy way and the hard way, its your choice. 14- Again and again "Knowledge". 15- Sharing your coins with a more knowledgeable/experienced collector will give you more information as well as proper guidance. 16- Hold high value coins while wearing cotton gloves or at least from the rim using clean, dry hands. 17- NOW is the time to be buying... time goes on whether we want it to or not, and in 20 years don't be one of those people who then are saying "I wish I had have bought more coins back 2011." History has a way to repeat itself unless you learn from it! 18- If you have the money, invest part of your coin budget in bullion. 19- Collecting coins is not a fashion, so you choose a great hobby. 20- You are young, and you are allowed to do mistakes But dont repeat them nor ours. 21- Be careful about who you show your coins to because they could end up being stolen. 22- Drugs and coin collecting doesn't mix at all. If you do drugs, there is a good chance you'll sell your collection for it. Still waiting for you mistakes to add |
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Valued Member
United States
326 Posts |
Quote:
Back in the mid 90's my 10 year old Son got interested in collecting sports cards/sets looking back now I wish we would have gotten into coin collecting instead of wasting those $1000.s of dollars on sports cards that were over produced at that time, so now there are monster boxes of cards and many sets just stored away since he lost interest so did I....
tartop - I made this same mistake. Now that I am retired I looked at what the cards are worth - about 25% of what they were purchased for. So I am boxing up all the sets, wax boxes, etc and am giving them to my 34 yr old son with instructions for him to sell them when he retires. |
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Bedrock of the Community
United States
20753 Posts |
For me the most important thing about coin collecting is it's a hobby, supposed to be for FUN. Nothing else is really important if you know how to enjoy the time you have left here on Earth. I'm rather old so the future is dim, tomorrow may never come, investments for the future are also dim. Being a stage 4 Cancer surviver makes all of tomorrows something to not think about. Time left should be enjoyed, not frustrating, irritating, investing, etc. JUST FUN. And most important of all is if you did go back in time, the Earth would not be in the same place as now so you'ld pop up in outer space.  Edited by just carl
11/08/2011 10:18 am
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Pillar of the Community
Egypt
3470 Posts |
Quote:
For me the most important thing about coin collecting is it's a hobby, supposed to be for FUN. Nothing else is really important if you know how to enjoy the time you have left here on Earth.  Quote:
I'm rather old so the future is dim, tomorrow may never come, investments for the future are also dim. Being a stage 4 Cancer surviver makes all of tomorrows something to not think about. 100% DISAGREE ...... you and I and all of us must think of the future because having a stage 4 cancer or not, being old or young.... no one on earth can tell if he is going to be alive the next second. So we are all equal in that the future is dim (unless you have a crystal ball  ), tomorrow may never come to any one.... we all go to sleep and you cant guarantee that you will wake up the next day.... Quote:
Time left should be enjoyed, not frustrating, irritating, investing, etc. JUST FUN. again Quote:And most important of all is if you did go back in time, the Earth would not be in the same place as now so you'ld pop up in outer space. Every new invention has its flaws and sure they will fix this problem in their new versions of time machines |
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Pillar of the Community
Egypt
3470 Posts |
Quote:
For me the most important thing about coin collecting is it's a hobby, supposed to be for FUN. I will use this advice in your own words and will place it as a number 1 advice |
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Pillar of the Community
Australia
9427 Posts |
If I could do it all again, I probably wouldn't polish all my pre-decimal Pennies. (not that they are worth much). Steve |
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Pillar of the Community
Egypt
3470 Posts |
Quote:If I could do it all again, I probably wouldn't polish all my pre-decimal Pennies. (not that they are worth much). Steve they seem they worth much at least to you, otherwise you wouldnt have been regretting it till now |
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Pillar of the Community
Egypt
3470 Posts |
This is the summery of all your mistakes: 1- Coin collecting is a hobby, supposed to be for FUN. 2- "Knowledge is King" and "Education is the key to collector success" 3- Buy if you can afford it. 4- One way to collect is: Try to focus on quality instead of quantity. 5- The other way is: Fill common holes right away. It focuses your collecting efforts on the handful of tougher dates, and gets you acquainted with their scarcity. 6- Try to share your passion for the hobby with someone you trust. 7- Again "Knowledge, Knowledge, Knowledge.... you have to read, ask and listen to more experienced collectors" 8- It's very hard to sell coins for what you'd pay for them. So wait for ultra-bargains, unless it's a really tough coin/date. 9- In particular, roll-search more early on and try to find stuff for "free" from circulation. 10- Try to find your theme in collecting, the earlier you find it the better your collection will be. 11- Try to buy all the Key dates instead of wasting money on other (frivolous non-numismatic) things. 12- Dont you ever clean or polish coins. 13- If you dont know what to do, PLEASE ask the right person. 14- There is always the easy way and the hard way, its your choice. 15- Again and again "Knowledge". 16- Sharing your coins with a more knowledgeable/experienced collector will give you more information as well as proper guidance. 17- Hold high value coins while wearing cotton gloves or at least from the rim using clean, dry hands. 18- NOW is the time to be buying... time goes on whether we want it to or not, and in 20 years don't be one of those people who then are saying "I wish I had have bought more coins back 2011." History has a way to repeat itself unless you learn from it! 19- If you have the money, invest part of your coin budget in bullion. 20- Collecting coins is not a fashion, so you choose a great hobby. 21- You are young, and you are allowed to do mistakes But dont repeat them nor ours. Still waiting for you mistakes to add |
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Posted 10/29/2011 8:24 pm
