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 Replies: 30 / Views: 2,821 |
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Pillar of the Community
United States
533 Posts |
Poll Question
I constantly hear everyone saying "Collect whatever you enjoy." or something very similar. Well, I mostly agree, but I think that it is a cop-out answer. For example, I am collecting silver (especially Morgans) right now because I think that in the near future silver will be worth significantly more then it is right now. When I feel that it has peaked I will start selling most of my common and duplicate silver coins, and buy them back later when silver is lower. I also like the fact that there is some intrinsic value in a silver coin.
I guess what I am saying (and I think others mean when they ask what they should collect) is that I enjoy collecting things that have the possibility of appreciating in value, and the joy of finding good coins in circulation. Though, I also really enjoy nice shiny (and not so shiny) coins of all types. Especially old coins with some history. (they also rarely go down in value, correct?)
Sorry about the length of the explaination, I could go on all day about what I like about coins, but now to my poll.
For all of you that are simply 'collecting what you enjoy,' please complete the following sentence, or chose a sentence that describes your feelings about coins.
I would collect coins even if...:
(What is your breaking point?)
Edited by MorganNoob
02/19/2008 3:41 pm
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Pillar of the Community
United States
7123 Posts |
This question always amazes me ! is it so unbelieveable that someone would collect something out of passion ?
I started collecting in 1969 as a kid ,, I can guarantee you that value was not a consideration or for that matter future value of the coins I collected .
is it today ? I collect from the same source inside myself as I did then . although the coins cost me more ,and I have a little better budget and self discipline and more knowledge ,,the reason has not changed .
Metalman
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Pillar of the Community
United States
954 Posts |
It is not and has never been a cop out. This is a hobby, it is a very poor form of investment. It is supposed to make your heart leap every time you look at that MS Morgan with the wonderful tone. It's not about out every time that the precious metals takes a dive or takes off. Do I have some investments in PMs, absolutely, I understand diversification and having a small percentage in hard assets, but most of my investments are in money market accounts. This is my hobby. I love my hobby.  |
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Pillar of the Community
United States
5318 Posts |
Just a few observations--I think too much emphasis is being put on spot metal prices, and where they might go. Historically, it's very difficult to call the top on these runs, and people inevitably end up getting burned. The same goes for any coin series that are deemed a "sure-fire investment". The investor types are putting the "cart before the horse" when ultimately it's collector interest that determines value. So just be a collector, and buy coins that interest you--just my .02. |
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Valued Member
United States
155 Posts |
I would absolutely love it if coins were only worth face value, I could get any/all of the coins I loved to look at and complete sets galore. I have always loved old things in general, something facinates me about old stuff and coins are one of the things where all points meet together. They're old (each one even tells you how old) they have great and interesting different designs, sizes, metals etc for variety.
It is a nice bonus that I feel they will be likely to increase at least somewhat over time I won't say it's not. Personally though I can't imagine having the concerns of being a major investment involved in my relaxing and enjoyable hobby of collecting coins. If I looked at a St. Gaudens (if I ever get my hands on one) and was more concerned with gold prices dropping $50 an ounce then I was with admiring how beautiful the design was it would ruin it for me.
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New Member
United States
42 Posts |
Personally... I like the fact that coins have a certain value and that they may increase in value, but I don't count on being able to make a profit on them, and I collect because I like them, not for profit. I also collect some action figures, but I know most will not rise in value and I'll probably never be able to get even what I paid for them. With coins, it's a nice bonus that they at least have some face value that they should never go under (barring the fall of the government), but it's definitely not the driving force behind my collecting hobby. If we want to talk about why.. well, I suppose that involves a lot of psychology. But I think human beings like collecting things in general. Some just get into it more than others, and some get into coins, while others get into toys or cards or whatnot. I think it's nice to look at a completed collection, especially when there's history and time in it. For example, the State Quarter program ending this year has taken nine years to complete, and those are unique designs we probably won't see on any coins again, and they say a little bit about each state in the union. I think that's a nice collection to have and look upon, even if it will probably never rise significantly in value within our lifetimes. The same goes for the Presidential dollar series, which is why I'm collecting those. So yes, the value is a bonus, but it isn't (or shouldn't be) any one's primary motivation to collect, because come to think of it, any collector will pour much more time and money into obtaining coins than they will ever get out of it. Instead, I think it's the simple joy and satisfaction of collecting itself which maintains most collectors' interests. Edited by Coinster
02/19/2008 5:12 pm
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New Member
United States
33 Posts |
hi all,I collect for the thrill of the hunt first, for the coins and then for errors!! If everybody did it for the same reasons there would be less of them around. I also collect hotwheel cars and most kids today don't realize that they increase in value!! for example a 1969 hotpink volkswagon bus in the hotwheels museum is valued at $80,000.00!! how that for an investment! The fun is in the hunt!! good hunting all!!
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Valued Member
United States
82 Posts |
I would be lying if I didn't say that the value of the coins is a PART of it. Not that I am in it to make a profit (I never have because I never sell!), but it definitely adds to the attraction. You can look at a cent with a face value of 1/100 of a dollar and it could be worth well over 100 dollars. It does add some "awe" to the hobby. But I am in it for the fun and love of coin collecting for sure!
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Valued Member
United States
439 Posts |
I don't think it's a "cop out" answer.
For a certain part of the people in the hobby it says it all and if you don't understand it then I doubt it could be explained to you.
The investment side is fine and dandy and could possibly be as big of a rush for some people but collecting for collectings sake is a different thing entirely.
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Pillar of the Community
 United States
533 Posts |
quote:
If I looked at a St. Gaudens (if I ever get my hands on one) and was more concerned with gold prices dropping $50 an ounce then I was with admiring how beautiful the design was it would ruin it for me.
I think that I made it sound like I am in this more for speculation on the price of silver then for the love of coins, and that is entirely untrue. On the other hand, If I can manage to turn X number of coins into 2X coins, over the course of a few months without putting another dime into them, why not? quote:
I think too much emphasis is being put on spot metal prices, and where they might go. Historically, it's very difficult to call the top on these runs, and people inevitably end up getting burned.
I really don't care if I miss the top by a few bucks, a profit is a profit. My friend said basically the same thing a year ago when I bought my bullion, now he is wishing that he would have bought some too. (gold is up about %40, and silver about 30%) I collect all coins for the love of coins, but anyone that collects silver or gold coins, should pay attention to the spot price, because that is the most basic reason that many of them are worth much. Do you think that the PCGS price for a 1921 Morgan in G-4 condition would be $16 if silver was $4 an oz? Why would someone want to pay $20 for something if they could pay $10 in a few months? And conversly why wouldn't someone sell something for $20 if they could buy it back for $10 a little later? I do love collecting coins, but probably more then that I hate throwing money away. If I think that I will find a better price in a month or two, I will wait. I don't think that a little savvy about what make something valuable is a crime, and if I can use my knowledge to increase the number of coins that I can afford, so be it. |
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Moderator
 United States
187672 Posts |
I never been too concerned about what my collection is "worth" because to me it is priceless. I did a rough estimate a few years ago and considering the total cost (time, effort, money, etc.), I think I am seriously in the hole! But I have always expected this, because I collect for the "having them" and not the "selling them". My coins are for FUN. I will leave my investing to the 401k, CD, IRA, MM or whatever else I might have.  |
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Pillar of the Community
United States
954 Posts |
Sorry, double post.
Edited by Becky
02/19/2008 7:35 pm
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Pillar of the Community
United States
954 Posts |
quote:
Why would someone want to pay $20 for something if they could pay $10 in a few months? And conversly why wouldn't someone sell something for $20 if they could buy it back for $10 a little later?
There is only one thing that I can see wrong with this statement. Most of us don't have a crystal ball, we don't know when and/or if this is going to happen. A lot of people have lost a lot of money playing that game. I wish you good luck.  Edited by Becky
02/19/2008 7:34 pm
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Valued Member
United States
473 Posts |
I collect what I like, and what I like can change at any moment. For about the last 3 weeks I've been looing into the 3CN and trying to whip up some cash so I coould buy a couple nice pieces to start of the series for me. But in the last few days, before I've even purchased a 3CN, I've been falling in love with the Ike dollar for some reason. I've never really given this set a second thought, but all of a sudden I think I'm gonna pick up a few more of them. I doubt they will ever be worth much more than the price i'll be paying for them, but I LIKE THEM and I WANT THEM. After spending 50+ hours a week working like a dog, it doesn't really concern me at all whats worth what to whom. I wish the price of silver/gold/copper/etc would drop just so I, and everyone else, could put together a few nice sets without having to worry about speculators and the like lurking around every corner. quote:
Do you think that the PCGS price for a 1921 Morgan in G-4 condition would be $16 if silver was $4 an oz?
Nope, it would cost $4. 1 "real dollar" = ounce of silver = $16 "Federal Reserve Notes", which means 1 "real dollar" = 16 "Federal Reserve notes". Silver, gold, coffee, gas, etc has not risen, the dollar has fallen. By the end of the decade, I project silver will be worth $50 an ounce. But that $50 will no longer buy you and you girlfriend dinner in a decent restuarant--expect to drop $100 or more. Silver goes up and so does the cost of living. Its all an illusion my friend.... --Gary |
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Valued Member
United States
133 Posts |
If you buy, trade, give away, but never sell, then you are a true collector. Now if you buy and sell then you might as well set that bourse table up on your front lawn for you have become a dealer. The two words are not inter-changeable, both can be held in high esteem in our community and has their rightful place. A numismatist is a coin collector but not every coin collector is a numismatist. Are we getting the big picture yet?
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New Member
United States
14 Posts |
I try not to think of the investment value. I certainly hope that they increase in value, but I'm assuming I'll be passing my collection along to my heir.
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Replies: 30 / Views: 2,821 |
Posted 02/19/2008 4:06 pm
