Evaluating My Collecting Process

I understand what your saying.

But for me that ...sometimes is a catch 22.

By trying to collect everything .. without having a unlimited
budget, some areas of quality are going to suffer.

But having a overall knowledge does give you more opportunity to make better purchases.

Maybe the answer is to learn as much as possible ..
make the good buys .. but flip the coins that might
not fit well into your collection .. to fund better
coins that do.

I really need to learn how to sell also .. I am meaning
like ebay .. or online.

Thanks for the opinions on the two GSA Morgans. One of the
reasons I went closer to retail .. is that both are NGC
graded .. and I am hoping the toned 1883 looks better in
hand.

Also .. I did not post what the other end of my comfort
level is.

These I picked up today .. out of junk silver boxes.
(The 1878 .. hard for me to pass up 1878's .. it's a "S")

As our collections mature we find ourselves drawn more and more to examples of higher costs. I have yet to delve into Morgans (other than a year set) but I will someday acquire a cc for the set. I focus on specific sets as of now browsing for an example that will be a fit for my collection. Most often in the past year those additions exceed $300 and topped at $900 at the Portland show where I had a shopping list but only a budget of 1K. I add my yearly mint offerings to maintain my modern sets and avoid silver stacking so my budget is not depleted when a wanted coin comes to market.

GR58- I very much enjoy reading your self-reflective posts on coin collecting. It's interesting to see into the mind of another collector when they "think out loud" on CCF. I'm pretty much in the same boat as you as far as budget goes. The most I have ever spent on a coin was $305. With Morgans, I have 35 left to complete the set, sans the 1895. By staying in my comfort zone on spending this hobby remains just that- a hobby. So far my spending habits have not interfered with paying bills nor has it created a "live paycheck to paycheck" situation. I only focus on 3-4 sets at a time, and I think that is just as important, at least for me it is. I just recently completed my Peace dollar set, so now I'm down to working on Buffalo nickels, Morgans, and keeping my Kennedy half set up-to-date.

My plan is to complete the Buffalo nickel set before I start another one. I can't say that I'm drawn to any other particular series right now. I'm more focused on completing at this point. I'm also having fun upgrading my Ike dollar registry set. For me it's good to have a little variety of classic and modern issues.

Congrats on those CC Morgans. I have yet to get my first CC. Just waiting. . . .

sel_69l
I see some collectors doing what you are suggesting, and
wonder if this might be a good approach.

Some of the collectors have a set/series of coins that
are fantastic. Sets that any of us would love to own.

I think about doing that, but then, that comfort zone hits me.
For example, the Mercury dimes. You are right that a set
can be completed. But for a high grade set, there are a few
coins that would be a stopper for me. A 1916D in G6/VG8
will be hundreds of dollars .. I can and most likely will do that. But in higher grades that coin will be in the
thousands, I feel once I got to that coin, there would
always be different coins I would buy.

I guess each collector must decide what series they like the
most and focus their attention on that set. But going into
coin shops, and seeing all the different coins available,
that can be a very hard thing to do.

Seeing some of the very nice high grade coins here on CCF,
makes me think .. wow I should get coins like those.
But in real life, I do not feel comfortable paying those
prices ... and in some cases do not have that kind of funds
for such high priced coins. But they are nice to look at

@ GR58:
Actually, I completed an Australian type set, where each date was represented by the rarest date for the type. The rarest coins in my set would have graded VF. Took eight years to complete.

Then I asked myself:
'What series should I now collect that would be impossible to complete?'
The answer slowly dawned on me -
ancient coins!
Such a collection can be taken in two ways:
1.) Each coin is a stand alone individual, or
2.) you can have a collection of them, of any size.

I read on the subject for two years before starting out in this new direction.
Been at it for perhaps 30 years now, and I am still learning.

I also have a nice collection of about 80 silver dimes, condition VF to MS65, including a 1919 full bands in MS62.
The 1919 came out of a $10 junk bin!

Enjoyed reading your post GR. And based on pictures you have posted, I don't know, but you sure have some awfully nice coins.

I find, for myself, that I work best with a targeted list of coins I am looking for and a budget, with occasional allowances to buy something I wasn't planning for. I would probably be happiest buying coins in the $50 range. There are lots of nice coins in that price range and $50 is my monthly budget, so it all just fits.

However, I also like completing sets, so I have to spend more sometimes. For example, I am working on an uncirculated Lincoln set. There are 7 coins left on my list - 6 after a 17-S that I just bought arrives (ANACS MS63RB). All end in an S or D and are all earlier than 1927. And that's with my existing VG versions of the 09-S and 14-D and no 09-S VDB yet. So - none of those are cheap or easy.

So, I allow myself the occasional purchase when I run across something. I've been looking for an upgrade to my Bust Dime in my 7070. Finally found one, and in putting it in my album noticed my silver Roosie could probably be better. So, $6 later, I have a lusterous beauty that just arrived. I get as much fun out of the $6 coins sometimes. I also recently upgraded my 3 cent silver. Wasn't on any list but ran across a really good deal on one and bought it too.

So - I work on a goal while letting myself buy the occasional "not on the plan" coins to keep my interest and for fun.

I think your over doing the process of coin collecting. Over thinking it all. I just simply think of this as a hobby. I buy what I want, when I want, if I can afford to, what I can afford. I don't worry about completing sets, Albums, etc. I just collect coin for fun. To many people worry about documenting, logging, sorting and on and on and on. It is supposed to be all in fun. IF you don't find what you want today or tomorrow, so what. There is always another day. Keeping track of what it costs, where you got it, when you got it and lots of other STUFF, to me is just not important. I do this thing called collecting coins for FUN.