True Coin Collectors , Where Are They ?

Regarding the definitions posted earlier, I mainly agree with them, except I would merge "hoarder" and "Accumulator" and add the category "investor"; you can see my own version of the list of definitions in this old thread. However, as I said in that thread, everyone is unique, and very few people fit neatly into the boxes without overlap. I consider myself primarily a Numismatist and Collector, with little Hoarder and no Investor.

It all depends on what your goals and motivation are. The Hoarder wants to accumulate. The Investor wants to make profits. The Collector wants to categorize, organize and complete sets. And the Numismatist wants to study and increase their knowledge.

It is important to note that none of these things are "wrong". They're just different. And being different is OK.

It's also important to note that people can change, and should be allowed to change. Many times we've had people come onto the forum with a purely Investor mentality: perhaps they've inherited grandpa's coin collection and just want to get as much money for it as possible. But, as they start to learn more about the coins, they actually become interested in collecting. It can work the other way too; a "pure" numismatist or coin collector can enter a new phase of their life, and use their knowledge and experience in coin collecting to either become a coin dealer themselves or to sell off their collection for maximum profits.

Finally, it should be noted that to a large extent we all need each other for the hobby to thrive. Coin Collectors would not know what to collect, if Numismatists had not carefully studied the coins and written coin catalogues. Nor would they have lots of nice coins available to them if Hoarders had not hoarded them up years ago. Investors would have worthless investments if there were no coin collectors pushing up demand.

i definitely fall into the collector category. collecting for 53 years and have never sold anything ever. now I have a huge dilemma as I'm disabled and may need to sell off pieces. I'm really torn over this and have hard time coming to grips with doing that. they are like a part of my family especially the pieces that I really spent a lot of time looking for or have special meaning to me. for instance I have a 1909S VDB I bought back in the early 70's XF40+ for $125. I just cant to grips to sell it. it took several years to save for and find the right piece to complete my lincoln set.

A coin collector is anyone that obtains coins as a hobby and the enjoyment of having them. If you want a term for someone that only obtains and never sells that would be a hoarder.

I'm a 44 year coin collector... I will remain a "true Coin Collector" until God makes that impossible...

I mostly buy coins at my coin dealer - the same local one I've gone to for 40 years, and find collectible coins via CRH... but I also sell sometimes, depending. I often find good stuff in my dealer's "junk" silver bins, and I also find some stuff in quantity that is popular with collectors (such as 2009-D nickels and NIFC halves)... I usually will one of three things with this stuff:

1) Upgrade my coins in my main collection (or the duplicates)
2) Sell them for a quick profit on ebay
3) Hold onto them for sentimental value

I use the profit I make off my junk silver purchases and CRH finds to buy more coins, and/or invest in my Coin roll hunting adventures.

I also do "invest" some in silver as I believe at its current low prices it's a much better investment than other things like the stock market. When I buy, I am very discriminating though, and hand pick the stuff that comes out of my dealer's "junk" boxes. As a result, you won't see too many 1964 dated coins in my collection (other than my finds out of CRH).

ditto


If you don't upgrade, you're not progressing.

I see your point jbuck, and don't disagree. But for my serious collection, I try to get the best known example and occasionally a better one will surface. For my fun collection I'm with you. Or I'd drive myself crazy. Opinions are like a buffet; many to chose from and they're always bringing more.

Myself I would fall into the collector. I've spent a lot of Presidential dollars and State Quarters (close to $10,000) that I collected over the years when my interests changed and things started to get out of hand. I kept a complete collection of each realizing that it will be past my lifetime and my children before they may be worth something. So I paid bills and bought some coins that I collect. The few xtras that I have now I usually give to other collectors Secret Santa or trade. Also all the silver I usually keep.

I think so. I like having completed sets, their very existence gives me the comfort of accomplishment. I am working on other sets to reach the same goal.

In the case of my Eisenhower dollars, I am upgrading by starting a second set. The first is in a Dansco, it is done, no changes there, but I am starting a graded set. It is different and will compliment, not replace, the Dansco set. I am not saying it is the right way, but one of many ways.

I really do not think there is a wrong way. If buy/sell/upgrade works for you, then bully!