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Pillar of the Community
United States
5855 Posts |
When I first got into coins and currency, I was basically a hoarder. I didn't have any specific goals or specific coins that I wanted to buy -- I was just fascinated with old money and wanted to get my hands on as much of it as possible. To this day, I hold onto every Wheat Back Cent, Buffalo nickel, Silver Certificate, etc., that I come across, regardless of condition or rarity. I have piles of Eisenhower dollars and Bicentennial half dollars that I just can't bear to part with. As I started to learn more about the hobby, I began to come up with specific collecting goals. I focused first on completing my 7070 Type set, got a complete Lincoln Cent album and then started working on a currency type album that I may never actually complete. In recent months, however, I've finally started looking at coins as an investment instead of just something to collect. When I go to coin shows now, I split my money between adding to my currency collection and trying to pick up some slabbed, high-grade, (relatively) high-value coins that I think are likely to hold their value and/or increase in value over time. Part of this, of course, is due to the fact that my wife convinced me to invest heavily in PMs for awhile, and I sort of got bit by the investing bug. But mostly I see it as a way to justify buying some really nice eye candy that I don't actually need to complete any particular set. I don't know if this is a natural progression, or whether most collectors just start out as either a hoarder or a collector or an investor and stay that way. Or maybe most collectors are all three to begin with. I was gonna do a poll, but I think I'd rather just hear people's stories. |
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Pillar of the Community
United States
5832 Posts |
+1
All of the above!
Edited by macmercury
04/05/2014 09:13 am
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Moderator
 United States
56855 Posts |
Yep  John1  |
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Bedrock of the Community
United States
17884 Posts |
I'm a collector and a numismatist (And in my opinion the two are not the same thing.)
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Pillar of the Community
United States
1804 Posts |
Barryg............ Quote: I have piles of Eisenhower dollars and Bicentennial half dollars that I just can't bear to part with. This is about where I am. I did save some Morgan & Peace dollars from decades ago. Hoard, invest, collector? Guess I am a little of all. AOMT ... Fun Fun FUN |
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Pillar of the Community
Canada
1472 Posts |
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Moderator
Australia
16836 Posts |
Quote:
I'm a collector and a numismatist (And in my opinion the two are not the same thing.)  I have always been primarily a collector. To me, that means I need to have a good reason to keep a specific piece in my collection. If I "already have one of those", then I don't need another and will not keep it. My friends and family sometimes don't appreciate this. Every year for my birthday and Christmas, my grandfather would give me the bag of circulating commemorative coins he'd picked up since the last birthday/Christmas. I didn't need sackfuls of 1982 50 cent pieces - I only needed one. So I kept the best one and spent the rest. The only things I have "hoarded" are banknotes/paper money, because I managed to convince myself that the different serial numbers on each of them meant they were all "different" and could therefore all be kept. I've not yet de-convinced myself of this sufficiently to let go of my hoards of notes. I also consider myself a numismatist, since it is the stories behind the coins that interest me as much as, if not more than, the bare statistics of country, mintage, value. My coins are touchstones allowing me to relate to that history. I am certainly not an investor. Not only is profit not a motivating factor in my coin buying and selling, but I am quite happy to make a huge loss when I sell a coin I mistakenly bought as a duplicate. Because the only place I sell my nicer duplicates at is my local coin club, and I am happy if I know that one of my fellow club members has picked up a nice coin, which I did not want, for a bargain. I'm also hoping that the pain of the loss-making acts as some kind of aversion therapy, helping to prevent a recurrence of the forgetfulness that caused me to purchase a duplicate in the first place. So far, that latter thing hasn't happened much yet. 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
1804 Posts |
Sap.......... Quote:
Because the only place I sell my nicer duplicates at is my local coin club, and I am happy if I know that one of my fellow club members has picked up a nice coin, which I did not want, for a bargain Noble to the max. |
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Pillar of the Community
Canada
5417 Posts |
All. I collect a variety of numismatic items. I hoard pennies, nickels and silver and I invest in high quality coins that I feel I will get a good results on.
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Valued Member
United States
337 Posts |
I started of as an investor, turned into a hoarder, then became a collector. I would still probably be considered all three because I buy bullion which would be my investor, I hoard copper pennies and nickels, and am currently working on a 20th century set making me a collector.
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Valued Member
United States
337 Posts |
Started with silver in the late 70s, and had a wise seller stop me and pick out some BU coins at the same ASE price, mostly Franklins. He said it would be a better way to save silver. So, I got a few other coins, like buffaloes and old cents, so I became a collector. Not it is at the bank, and I buy for resale on my website, so I became a seller, a category not here. As for my collection, I am most proud of my one Trade dollar, and a very nice Large Cent from the 1830s. Both were bought from a legitimate coin dealer well before the current counterfeit explosion. I did not take advantage, but the coins he sold me could have been taken to another LCS and sold the same day for a 50 cents per coin profit, as advertised in the newspaper. But that would have depleted his inventory and he was too nice f a person, and would have sent the coins to be melted, UGG. Sometimes a small profit is not worth it. |
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Valued Member
United Kingdom
477 Posts |
Myself I like collecting coins for the 'history in your hand' feeling, the learning that accompanies collecting-I think we are all passionate learners/teachers. My goal is to collect treasure, treasure defined by my definition-things I will cherish and feel good owning.
I do like to put my money into my collection, but I'm after no monetary reward. The reward is in the collection, involving dead coins resurrection. Collections have monetary value, and are an investment to the business collector but not so much to the coin resurrecter(coin guardian). It's a labor of love to many of us :).
To see the world in a coin still stand,
And the historic numismatic power,
Hold Infinity in the palm of your hand,
And eternity in an hour.
There was another topic very similar, so I copied and pasted this response and added a few bits. My beginnings of collecting were not so long a go, I loved the pm in coins. Then my knowledge grew wider, and passion ensued.
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Pillar of the Community
United States
7375 Posts |
Definitely not a hoarder. Not rich enough. The wife and kid need food and clothing....unfortunately Not sure exactly what I collect, but if I haven't sold it, I must be collecting it. Yes, a bit of investor, mainly to round out a portfolio. |
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Bedrock of the Community
United States
20753 Posts |
YES.
Except I don't plan on selling any coins for a few hundred years.
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Pillar of the Community
Canada
726 Posts |
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Pillar of the Community
United States
1795 Posts |
A collector with an eye for value now and in the future.
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Replies: 40 / Views: 5,484 |
Posted 04/05/2014 09:31 am
