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A New 20 Year Collecting Plan...

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DavidUK's Avatar
United Kingdom
2624 Posts
 Posted 07/20/2012  6:56 pm Show Profile   Bookmark this topic Add DavidUK to your friends list Get a Link to this Message Number of Subscribers
I wonder how everyone else goes about collecting...I mean those on a budget like myself...

I have a wants list which always seems quite short, like its within grasp, I don't have it written down and costed but its about 8 USA bank notes and 3 slightly more expensive British banknotes. Then there are the coins...generally not very expensive (but by the time you pay packaging from ebay it all adds up) I don't think I will ever complete my sets (in albums so I decide what can go in and what to leave out)

This wants list always seems to have grown by the time I complete it, I don't know how that's possible but I always get some bright idea...

Anyway, I look at my collection and I realise that 10% of the items hold 90% of its value... the other 90% is really not worth much except memories. I know that is fairly normal but I cant continue to collect like I have been forever.

So I decided today I will make a list to work through and that will be it for my current collection (except circulating coin and note releases as they arrive but they aren't expensive) and after that I must formulate a new plan of attack!

I will buy a new album and pages... and this one will not have any cheap coins in it...I will aim for quality to accompany the quantity I have already.

Roughly my budget will be £50-£100 per coin and 1 coin every two weeks maximum, 1 per month minimum. If I can afford more I will include one or two above that but I want every coin in that range ideally.

Now I must decide apon what this album will contain...I was thinking the first coin I want to purchase will be an Elizabeth I silver sixpence, followed by 1 coin from each monarch since then (20 coins) after that I am not sure what theme or connection will be between the coins...any cool idea's for me?
Pillar of the Community
Australia
3831 Posts
 Posted 07/20/2012  8:29 pm  Show Profile   Bookmark this reply Add gxseries to your friends list Get a Link to this Reply
I honestly don't know what people think about impulse buying but there are at times, some coins that you knew you had to get otherwise you'll never see like one ever again. There are more than a few coins that I bought are no longer available on the market regardless of how much money I put down. I guess having a bit of savings might help - there were at times when I've gone out of budget but I'm not regretting it at all.
My partial coin collection http://www.omnicoin.com/collection/gxseries
My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm
Regularly updated at least once a month.
Bedrock of the Community
basebal21's Avatar
13014 Posts
 Posted 07/20/2012  8:35 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
GX brings up a good point. I would have that emergency fund for deals that are too good to pass up or that I just have to have it and may never have it again. I had a coin like that that I passed on at the time a beautiful PCGS MS 67 CAC Antietam and I've been chasing that coin ever since. Did also recently get an impulse buy for another classic commem for half its FMV. Its also good to have that ability as you never know when such deals will appear.
Pillar of the Community
DavidUK's Avatar
United Kingdom
2624 Posts
 Posted 07/20/2012  10:07 pm  Show Profile   Bookmark this reply Add DavidUK to your friends list Get a Link to this Reply
True, I can understand that, I have done the same several times and later on been glad I had.

What I want help on though is the theme... To make a type collection I guess of 20 different monarchs means choosing between so many coins I am trying to think on what basis I should choose...

Now I have another problem to attend to...I will make another threaad about that one.
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