| Author |
 Replies: 12 / Views: 2,091 |
|
|
Valued Member
Australia
73 Posts |
Many years ago I was seriously into Star Trek The Next Generation and at one point even paid $400 for a gem of a collectors card.
Then I decided as those cards became worthless as they were no longer popular after the tv series ended. I re-focused on a different type of collector card . . . Today I know these cards commend thousands or tens of thousands of dollars each.
If your collecting for pure self pleasure then its your money , but if your collecting even as a pure hobby maybe you feel your hobby should try and hold its value.
Years ago I read about a USA man, his uncle said to him ; what career to do you want, and he replied I want to be a doctor or lawyer and his uncle said ; we cannot afford that !! !
The man replied ; ho about an engineer and his uncle said ; OK , an engineer. But if I pay for your college , you must pay for your sibling to go to college and the man agreed.
The man became an industrial chemist and started working for KODAK while paying his siblings educational expenses. This man traveled to every coin show he could find and often turned his nose up at even MS65 coins as lower class examples.
Happily storing them in his closet, his collection was stolen. But he again attended shows and purchased top grade coins.
Over the years this middle income earner amassed a new collection. From many different places.
One day he ran into his house and said to his wife I must pack, as a good wife she replied why are you not at work ! ! !
He said, I am off to Egypt the King has died, his wife exclaimed ! who ? He replied the king of Egypt and his wife said, so what. He replied I am going to buy his coin collection.
She immediately said ; HOW ?
He said, I have taken out SECOND Mortgage on our HOUSE to which she replied WHAT (huh)!
Years later his collection after his passing as evaluated by the top auction houses in America and no one had any idea of ho to sell it !
Eventually it was split up into 4 or 5 auction lots and the end total sale price as over US$ 39 million dollars.
This collection included groups of the finest Japanese, Mexico, Canada and USA coins ever known in one place per type set.
In fact his type set of USA type coins as in better condition than those within the Smithsonian coin collection.
All this because he anted QUALITY over Quantity. He enjoyed his collecting and his astute buying paid huge dividends . . .
Our best way today to collect is to develop policies and procedures about WHAT, WHY and HOW you form your collection ; both to pursue your collection and to protect some of its investment potential !! !
Happy collection and its great to have an enjoyable hobby . . . ;)
|
|
|
|
Rest in Peace
United States
18456 Posts |
Love the story but throughout one's life they must have the funds and budget to take on the type of coin collection this man had . Not everyone is that fortunate ,even that fortunate to have a wife that calm without beating the crap out of that guy .  |
|
Bedrock of the Community
Australia
21786 Posts |
Yes ! It IS absolutely foolish  to collect anything you like !  I collect coins - The disease is is known as Numistmatitis - (sometimes contagious), and shows some signs of being a sort of permanent pandemic. Not sure if it is a bacteria or a virus that causes it. Probably not fatal - but usually results in mild mental disorder. Not much pain - usually felt in the wallet. Like the cards, some of my coins are next to worthless, and some of them have significant value. But I don't care too much - that's what numistmatitis does to you. Policies on the development of your collection? Pricewise, I cherry pick across the whole of numismatics, but with a liking for ancients coins in all cultures. Incidentally, I was once a ginger beer myself, (now retd.) |
|
Bedrock of the Community
United States
94367 Posts |
Good story, thanks!  to the CCF! |
|
Pillar of the Community
 Canada
9862 Posts |
The story of John J. Pittman with a few dramatic embellishments.
A collector we can all look up to.
"Dipping" is not considered cleaning...
-from PCGS website
|
|
Pillar of the Community
United States
7273 Posts |
If I told my wife I was going to take a mortgage on our house to go buy coins in Egypt, it would be absolutely foolish as I would no longer be married and have no coins and no house and probably no money as she would get it all. So for me its not foolish to collect what I like, as I only like stuff I can afford to collect.  |
|
Moderator
 United States
54280 Posts |
Pittman's wife went with him to Egypt, so apparently she agreed with the mortgage on the house.
|
|
Pillar of the Community
United States
7934 Posts |
Quote:
Years later his collection after his passing as evaluated by the top auction houses in America... This is the kind of statement (along with the details thereafter) that to me is absolutely irrelevant. I enjoy the process of collecting, and the learning that goes along with it. I don't care whether my collection will be more valuable or less valuable when I die. I don't know Pittman's story, but I doubt he cared either. Edited by tdziemia
03/09/2020 11:52 am
|
|
Pillar of the Community
Canada
2781 Posts |
I don't know Pittman's story, but I doubt he cared either.
doubt at the time? probably not, BUT I can guarantee that he doesn't care now (his heirs might)
I collect EXACTLY what I like, but agree with quality over quantity. Buying the best you can afford is much safer than buying loads of granny candy, but since none of us are getting out of this world alive then do what suits you (as long as there is food in the fridge).
Edited by Wade
03/09/2020 10:16 pm
|
|
Bedrock of the Community
Australia
21786 Posts |
Wouldn't it be good to collect exactly what she likes? Now......... that would be interesting !  |
|
Bedrock of the Community
United States
20753 Posts |
My wife has her own guns and well knows how to use them. Therefore, I can't imagine me being in a situation like that and still be able to say anything about anything.
|
|
Pillar of the Community
4628 Posts |
Not everyone has a controlling wife. I am gay and my partner is rich, he does not care what I spend my money on, as long as I pay my share of bills, keep up the savings and debt and bully for the rest.
That has allowed to let my collection grow at a healthy rate and many fine silver pieces I am getting all the time.
|
|
Pillar of the Community
United States
3755 Posts |
To be blunt and honest, so? I dont give half a rats behind about what motivated some dude with way more money than me. It is so totally and completely irrelevant to me and my circumstance. As it is to EVERYONES except his. And he is dead now and at most it is a semi amusing story. Honestly, I skimmed it and was like meh, whats the point?
I collect what I like. I will ALWAYS collect what I like. IF that collection is more valuable when I die, great. Kudos to my kids. If not, so? I have a model collection. And I do actually build them. I guarantee my son could not get back what I spent. I have action figures, Star Wars and Trek stuff. Yadda yadda. I spent the money on that stuff because I LIKE IT. To tell someone they are foolish to collect what they like is ridiculous.
Edited by smokeriderdon
03/15/2020 3:00 pm
|
| |
Replies: 12 / Views: 2,091 |
|
Posted 03/09/2020 07:45 am
