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Do You Care What Your Coins Are Worth?

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Valued Member
United States
93 Posts
 Posted 05/31/2015  1:05 pm Show Profile   Bookmark this topic Add damcon3 to your friends list Get a Link to this Message
I inderstand no one wants to take a bath on there collection, and I understand researching current value when you purchase a new coin. But, do you constantly monitor their value? With so much info for free online as far as current pricing, I cannot see the need for monthly price guides or even a RedBook anymore. I could tell you what I paid for most of my coins, but have no clue what my collection as a whole is worth.
Valued Member
United States
343 Posts
 Posted 05/31/2015  1:14 pm  Show Profile   Bookmark this reply Add SpaceMaNy0 to your friends list Get a Link to this Reply
I don't really care, yet. I see it as something I'll add to for 20-30 years and then maybe look into what it could be worth.
With all these Barbers around, you'd think I'd have shorter hair.
Pillar of the Community
United States
3463 Posts
 Posted 05/31/2015  2:05 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
I keep track of it on a spreadsheet, but I don't update it very often and it's not really all that big a deal for me beyond wanting to have a value for future heirs, etc.
Pillar of the Community
United States
7198 Posts
 Posted 05/31/2015  2:12 pm  Show Profile   Check edweather's eBay Listings Bookmark this reply Add edweather to your friends list Get a Link to this Reply
I mostly care what they are worth at the time of purchase. I try to research and make wise purchases, so I won't be too upside down in anything I buy. That way I won't have to care about what they're worth on a daily basis. Sorry for all the I's
Pillar of the Community
United Kingdom
2357 Posts
 Posted 05/31/2015  2:18 pm  Show Profile   Bookmark this reply Add Bacchus2 to your friends list Get a Link to this Reply
Completely agree with edweather. I try to buy at a good price - that's really all you can do. When selling you will want to sell at a good price too - but as I don't sell many that's not a consideration at present.
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United States
5828 Posts
 Posted 05/31/2015  2:22 pm  Show Profile   Bookmark this reply Add ChildOfTheWheat to your friends list Get a Link to this Reply
I keep track on Google sheets. Take a look, it's in my signature
Pillar of the Community
United States
2543 Posts
 Posted 05/31/2015  3:07 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
Generally I don't really care one way or the other. I have all the confidence in my due diligence at the time of purchase and know that I got best price at the time. I have a handful of coins that were mis-labeled or overlooked at auction and I either recognized the variety or the value that other bidders missed, that I got for a steal. I check on these one in a while, just to "pat myself on the back"

I do keep track of my active sets. You have to know the value of these at all times to effectively add to them. Other than that, I don't really care what the rest of it is worth.
Pillar of the Community
United States
1212 Posts
 Posted 05/31/2015  3:11 pm  Show Profile   Bookmark this reply Add 0xDA71D to your friends list Get a Link to this Reply
Nope- I don't care whatsoever what the value of a coin is unless I am buying or selling a particular coin.

In my opinion, a coin's value is so subjective that it's useless to put a value on a coin and expect it to never change.

Plus, there is a difference between retail and wholesale prices, so a coin's value is different in different contexts.

<hr>
That being said, when I do buy, I am quite cheap and tend to find a coin near wholesale price.

If I do sell, I will probably sell below retail price.
Edited by 0xDA71D
05/31/2015 3:14 pm
Pillar of the Community
United States
1192 Posts
 Posted 05/31/2015  3:32 pm  Show Profile   Bookmark this reply Add Bertensgrad to your friends list Get a Link to this Reply
I only really care when I buying to make sure I get a fair price. After that I just figure it would be hard to go underwater on it and it doesn't matter.
Valued Member
Pakistan
203 Posts
 Posted 05/31/2015  3:40 pm  Show Profile   Bookmark this reply Add Babar to your friends list Get a Link to this Reply
Most of my collection is from currently or recently circulating coinage, and I'm well aware of that, so I don't really keep an eye on price. In fact, the few precious metal coins in my collection are the ones that have me worried that someone might try stealing it :D.
Pillar of the Community
United States
1704 Posts
 Posted 05/31/2015  5:12 pm  Show Profile   Bookmark this reply Add Gyrene7483 to your friends list Get a Link to this Reply
I have separate excel spreadsheets for my raw and graded coins which are updated with every new purchase. The primary reason is twofold, in case something happens to me my relatives will know what the coins are worth so they will be less likely to be taken advantage of if the try to sell them. The other reason is in case of loss, be it disaster or theft. Otherwise I do not think about their value much at all.
Pillar of the Community
United States
806 Posts
 Posted 05/31/2015  6:04 pm  Show Profile   Bookmark this reply Add atticguy to your friends list Get a Link to this Reply
Honestly....no!

I will say that I always try to pay as little as possible when buying for my collection. However, once I own a coin, it really doesn't matter if the value of the item goes up or down. All I care about when buying is the coin's type, date, mint mark, and to some small extent...it's condition.

I don't plan on getting rid of any coins so as long as I have them I don't care if the value ascends or declines. The only one thing I do when I buy a coin is to keep a list on what I paid for everything, so that when I pass away and my wife/kids/grandkids decide to get rid of them, I'm hoping that they will get at LEAST 1/2 of what I paid back.
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Australia
13297 Posts
 Posted 05/31/2015  6:34 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
I do not. There are a couple of extra-valuable coins which I acquired serendipitously for nowhere near their market value that I occasionally look up to see how they're doing, since they're the ones that will probably "go first" if some kind of family or personal emergency forced me to sell some coins for quick cash.

I used to look up what the catalogue value of my newly bought coins were, after I bought them, to find out if I "got a good deal" or not. But I don't usually bother doing that any more.

I'll even admit to not doing anything in the way of research before I buy, though I'll often have a reasonable "ball park" idea. Pretty much all my coin buying is from coin shows and brick-and-mortar coin shops, and my buying strategy mainly consists of looking through a dealer's stock and saying "Oooh, I don't have one of those yet", so I rarely go shopping for coins with a wantlist. If I want to buy a coin I see for sale and I can afford it, I'll buy it, without really caring what "the market" says I should be paying. Right there and then, I am the market, and for the kinds of coins I'm interested in paying big money for (ancients, mediaevals and obscure world stuff), I'm not likely to be able to shop around and buy a similar one elsewhere. So it's either pay what the dealer is asking, or go without.

Do I sometimes get taken for a ride by the dealers that way? Sure. Do I really care? No.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
Pillar of the Community
United States
7387 Posts
 Posted 05/31/2015  6:56 pm  Show Profile   Bookmark this reply Add Cascade to your friends list Get a Link to this Reply
Well, my problem is being a toner collector. I can guesstimate all I want and have a good idea of where a perticular one may land but it's so subjective that until I sell I won't really know for sure as we could be talking swings of hundreds or more. For all others of 3 figure value and higher I only like to only make a list of what I paid. The thrill (or disappointment) comes when I sell and compare to my purchase price
Bedrock of the Community
United States
19171 Posts
 Posted 05/31/2015  9:36 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
I have no idea what my coins are worth and could care less. No one to leave it all to so makes little difference how much they are worth. I never sell coins, although I've given many away. Makes no difference what any of them are worth. Used to way, way back when I was a kid but now, doesn't make any difference. That is one thing I can say makes me happy about my hobbies. Regardless of what they are, how many I have, what they may be worth, unless selling them, just makes no difference.
just carl
Pillar of the Community
United States
2798 Posts
 Posted 05/31/2015  11:31 pm  Show Profile   Check Darth Morgan's eBay Listings Bookmark this reply Add Darth Morgan to your friends list Get a Link to this Reply
just carl- you are my hero.
My Eisenhower dollar Complete Variety Set, Circulation Strikes and Proof ( PCGS Registry) - https://www.PCGS.com/SetRegistry/do...edset/119137
Darth Morgan - "The Other Ike dollars" Showcase: https://www.PCGS.com/setregistry/showcase/3354
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