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 Replies: 16 / Views: 2,265 |
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Valued Member
United States
114 Posts |
If you have a fairly large collection, and a lot of repetitive coins (like a bunch of Walking Liberties, etc...), is it common for collector to keep one or two of the nicer specimens of each type and sell the rest? Or is bigger better?
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Pillar of the Community
United States
882 Posts |
You know, I was reading a book today, before I had to get to work, and the book was focusing on making money by selling coins. The author highly suggests that you sell ALL your cull, damaged, junk, and really worn coins. You need to focus on getting better coins if you want the value of your collection to increase. High grade coins will increase in value much fastere than lower grade coins. This is because collectors are always looking for the best of the best. They want to upgrade. They want to show off their "nice" coins. After reading this book, and the importance of having nice coins, I think I will eventually follow his advice. Out with the junk, in with the hunks.
Good things,
Ty
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Moderator
 United States
23522 Posts |
I'm what they call a "boredom culler." One of these days I'll find something I want to hold more than a few years.  |
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Pillar of the Community
Australia
1091 Posts |
I think that if you don't need to sell, hold on to em.
I can't bring myself to sell any of my coins. Of course this will create storage problems as the hoard grows bigger.
Collecting is a personal preference, there is no right way or wrong way to collect.
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Pillar of the Community
United States
2365 Posts |
Well now that depends. If you have a hoard of one Key Date coin it would be smart to keep them all. Collecting an entire series (dates) is a lot of fun and a complete series can possibly increase the value. I find it difficult to sell any of my extras. Some folks collect nothing but one year, one type of coin. That's boring to me but, to each their own. Oh, I did notice that Grandma had quite a few 1964 Kennedy half dollars...that was the first year for the Kennedy half and the only year that it was Silver...the rest are Clad. Thought to keep in mind...metal content! Edited by dsking
01/31/2007 8:36 pm
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Valued Member
United States
270 Posts |
I attended a lecture by Mike Fuljenz at the recent Houston coin show. He seemed to be saying that a massive rise in coin prices was on its way. He's got a free publication on his ideas about this: http://www.universalcoin.com/defaul.../nlgform.aspMaybe it's good to just sit on those things for a while. And read some books in the meantime. |
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Valued Member
United States
228 Posts |
I have a lage "cull" collection of Morgans, Walkers, etc.....I find them interesting. I don't like them with holes or anything but I find a lot of very worn coins attractive. That does not mean I don't like MS coins though....A nice Blast White Morgan is a thing of beauty for sure....So, I like em both !!!
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Rest in Peace
United States
3730 Posts |
As far as I can remember, I have never sold a coin from my collection. I've given away quite a few, but just have never been able to sell any.
I hope that remains the case, and that my collection is passed on down to family members.
There hasn't been a storage problem yet, however the 50,000 Lincoln Cents may be a problem for my kids after I head for that Great Coin Store in the Sky!!
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Moderator
Australia
16809 Posts |
It entirely depends on what level of collecting you feel like getting involved in. If a type set would do you just fine, then keep the best and sell the rest. If a date set, feel free to get rid of any duplicate dates. You could always go for a full mintmark set, and then of course there are the varieties. Just remember, if you change your mind, it'll be a lot harder (and more expensive) re-buying at a later date any coins you sell now.
Myself, I collect world coins by date and mintmark. I don't keep any "duplicates", defined as coins of the same denomination, date, mintmark and major variety as those I already have. The variety has to be "mentioned in Krause" for it to be a keeper.
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
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Pillar of the Community
United States
2600 Posts |
Mary, I have taken the course that I will keep all keys and semi keys. Then, I try to concentrate on the areas of interest. This means that even worn tired coins of that group will tend to stay in the collection. I will move one of these to upgrade, though. All other coins that come along tend to be sold or traded, allowing my collecting dollars to be working in the coin types I enjoy. So, lets say your primary coin group interest is Morgans, (go figure), and you have as I do right now, a lot of decent Lincoln cents. I am going to move them to someone(s) who will appreciate them and at the same time be able to add to the Morgan collect which I get much greater enjoyment from. I would not look at the Lincoln Cent set once a month, but I work with the Morgans nightly. So, why not have the limited dollars available working in the best part of your collection. Probably not right, but works for me.  Jim |
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Forum Mom
United States
5877 Posts |
As you can see, there are a lot of different opinions on this situation. It really all depends upon your collecting interests. If you have a lot of common date coins that you want to sell to make money to purchase coins that you don't have, I'd say that would be a wise decision. That way, you're not actually taking money out-of-pocket to expand/upgrade your collection. I see this as a very smart option. Others prefer to keep everything they purchase and can't bear to part with anything. There's nothing wrong with this, either, but you then have to budget to add/upgrade your collection. P.S. You've got mail!  |
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Pillar of the Community
United States
7123 Posts |
quote:
Oh, I did notice that Grandma had quite a few 1964 Kennedy half dollars...that was the first year for the Kennedy half and the only year that it was Silver...the rest are Clad. Thought to keep in mind...metal content!
65-70 Kennedy half dollars are 40% silver !! --------------------------------------------------------------------- I see nothing wrong with exchanging lower grade coins for Higher grades ,,I do it all the time . Its best to let your collecting habits help in keeping your collection self sustaining ,, this can be done by buying coins that do not exactly fit with your minds eye of your completed collection,, and then selling those coins for a profit to help build the funds needed to buy the coins you want . once you start buying and selling it can be as addictive as collecting itself ,, it just becomes something that you are always open to ,, you would be surprised at the knowledge required to purchase even low grade coins and make a profit on them. Metalman |
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Valued Member
 United States
114 Posts |
Thank you all for the advice and giving me a lot to think about. I spoke with my husband, and we decided to keep the 2 best specimens of each coin type/date/mint/variety. That way I can split the collection between my two sons eventually. We'll also keep a few interesting things that are duplicates to give to the grandkids (when we have them, hopefully not for at least 20 years!). Whatever is left over will be sold to purchase coins to help complete each set, upgrade a specific coin, or to buy things that just strike my fancy. Basically, I think this decision means that I'm now an official coin collector! You guys warned me...
Sap, what does "mentioned in Krause" mean? I assume it's a book?
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Pillar of the Community
United States
2254 Posts |
I'm sure someone will read this and reply to the true full name of Krause's book, so I will bump this up to get exposure to the early morning East coast folks. Here is a link to Brent Krueger, who I believe is a respected supplier. http://www.brent-krueger.com/books....ource=googleI'm pretty sure Krause's books are something like "World Coins from the 18th Century", and so on. |
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Valued Member
United States
111 Posts |
I agree with Kerry. I sold off all of my worn Morgans, to generate cash to pursue nicer ones. The MS Morgans are a thing of beauty for sure. But, they have no history. The worn ones used to make me day dream of their history.
Do what you think would please you.
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Moderator
United States
23522 Posts |
Krause" is the Standard Catalog of World Coins, broken down by century - there are editions for 1601-1700, 1701-1800, etc. Each is a few inches thick (literally!) and contains a monumental pile of information on the world coins of that century. Values are probably not to be trusted, but thousands of pictures, mintages, and background informaiton are.
Absolutely required ownership for the serious Darksider, IMO.
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Replies: 16 / Views: 2,265 |
Posted 01/31/2007 8:13 pm
