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 Replies: 13 / Views: 1,793 |
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Pillar of the Community
United States
1083 Posts |
I would love to have your thoughts on this topic. I seriously got into collecting US coins again after inheriting a large collection from my Mother around eleven years ago, and more recently from my uncle. Since that time I have spent thousands of dollars and completed a 7070 with gold page, date and mint sets for Jeffersons, Buffalos, Lincolns, Mercury dimes, silver Roosevelts, Franklin Halves, and Walker halves. I lack five coins to finish the Indian Head cent collection, but that includes both the 1877 and 1909-S, A very expensive proposition. At the age of 62 I am wondering what comes next? One thing that gives me satisfaction in thinking about my collection is future value. I wonder if I wouldn't be better served by liquidating some of these circulated sets and acquiring uncirculated, slabbed examples of better dates? Of course this would mean fewer coins in my collection, but they might have more chance of appreciating in value, either for my benefit, or my heirs. Off setting this thought is the sentimental value that some of my present collection has for me. My 7070 is pretty high quality and one of my Franklin sets is BU and proofs only. Other than that, the rest is circulated and I don't believe will gain in value in the future, and actually may drop. Has anyone else changed their collecting goals to better reflect investment value? If so why and how did you do it? Edited by okie-colin
09/18/2009 12:51 pm
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Pillar of the Community
United States
1429 Posts |
World coins will be the future as they are underpriced compared to US and will enjoy a broader collector base.
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Pillar of the Community
 United States
1083 Posts |
World coins huh? That is a broad topic. Which countires and time periods? My problem with that direction is I don't know anything about them, so I would prefer to stick with high quality US coins. |
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Pillar of the Community
United States
1055 Posts |
I might suggest selling off the sets or break apart the sets to sell. I would certainly keep the 7070 and maybe add the best coin from your other sets into the 7070. Then I might buy a few high grade MS+ Coins from a 19th century series you enjoy, a nice bust half or quarter, draped bust dollar in XF...or buy a AU+ Classic Head Quarter Eagle...Those coins along with others in the seated series I think would have a better shot at appreciating or at least holding their value over the years. I can't see a MS bust half or an AU Classic Head Large Cent falling in value any time soon. I would buy these coins certified by PCGS, NGC or ANACS.
Dealing with high end foreign coins would scare me as I know nothing about them, I have low value world coins but nothing expensive. There are just as many if not more counterfeiters of world coins as there are US.Coins...
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Moderator
 United States
188213 Posts |
Investment value? What is that?  I am very sentimental about my coins, so you probably already know my answer.  |
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Pillar of the Community
United States
1219 Posts |
I have to agree with jbuck on this one. I'm very attached to my Morgan collection. Won't need them in the future as an investment. When I do meet my demise, it's no longer my problem what happens to them, nor will I care. In a morbid sense of view, I'm taking them to the grave with me.
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Pillar of the Community
United States
8904 Posts |
MorgansRmine wrote: Quote:
I'm taking them to the grave with me  Just let me know where to dig!! (before the environmental damage sets in!) Your Morgans will go to a good home...  |
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Rest in Peace
United States
4849 Posts |
LOL, you guys are funny. I am more in line with Cownas here in my opinion. You might want to keep a few in which you have a special sentimental attachment too, and then sell the rest to convert into higher end certified slabbed coins. These tend to have better appreciation rates, and they are much more likely to realize their full value if they end up being passed on to heirs who may need the money but are more numismatically challenged...;-) I say this because it is much easier to for someone unknowlegable to get close to full value for certified coins. Also, though I'm currently having fun completing sets, I can picture myself someday doing exactly what you are suggesting. Normally I could never just go out and purchase a $10,000 plus coin(i dont have that kind of money lying around); but I may have a chance to if I sell off a bunch of lower value coins in my collection and put that towards 1 or 2 very high quality coins. It may be a once in a lifetime chance to own a coin I'd only dream about. :-) If it were me personally, I would invest in a certified XF-AU capped or draped bust half eagle, or a Fine+ 1916 Standing Liberty quarter. I'm not suggesting they will have great appreciation rates; but they are the coins that I dream about.  Edited by johnny54321
09/18/2009 6:29 pm
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Bedrock of the Community
United States
20753 Posts |
First thing I noticed was your age. So your now a senior citizen, HUH. With coins that sort of makes a lot of differences with many people. Most realize, as I do, that there really isn't a long time to continue coin colleting. I suppose that is why so many individuals at coin shows are rather on the elderly side. That's the collectors though since most dealers are about middle age. Hate to say it but as we all get older, our hobbies and activities are less and less strenuous. Coin collecting is a great example of that. The worst part is to stop thinking about coins as an investment for the future if that is anything in your ideas of this hobby. Way to late in life for that.
Myself, I used to think of all the great things I'd do with my collection of coins in the future and now that the future is here, I just spend time enjoying coins as a hobby. The heck with what happens to it all in the future. No one to leave it to so it will probably all go back into change. Same with many other hobbies I'm into but being rather a little older than you, I spend as much time with each hobbie and don't really care what is more important. They all are.
Just have fun and enjoy ALL OF THEM. Life is way to short.
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Pillar of the Community
United States
1454 Posts |
I agree with some of the others in that I do it for fun and for the love of just collecting. Am afraid that if I turn it into something where I have to make money from it then it no longer becomes much fun.
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Valued Member
United States
436 Posts |
I had this same dilemma. I started collecting after seeing all the coins in the shop I went to to buy bullion as an investment, and started thinking how much cooler it would be for my daughter to get some old coins when I went. I wanted them to be valuable, which is still somewhat of a consideration, however the collection bug hit hard, and I'm working on sets now. I collect what I like, and don't worry what they will be worth so much when I'm gone, as they will always be worth something. I'm just hoping now that when my daughter goes through them all after I'm gone, she'll get the bug, and maybe the grandkids will get them someday. In the meantime, I'm having fun collecting, so darn the value to anyone but me!  |
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Pillar of the Community
United States
1801 Posts |
What a great topic. Okie, I just say do what makes you happy. Just Carl had it right, life is too short. I have collected coins almost all my life, seriously for the last 30 years or so. I have watched other collectors in the 2 coin clubs I belong to do everything from sell all their coins so they could travel to clutch them so tightly they had to be pried out when the collector died. You need to just do what gives you pleasure. You might find you enjoy selling off the coins you have and enjoy buying fewer higher grade key dates (think of the money you'll save on safe deposit box fees.) You may want to keep the sentimental coins, write a letter for who ever gets them when you are gone and explain to them why the coins were special. As for "value" and "investment" issues, if that is the main goal, do some research and see where the best investments in the past were and why they were good and try and project the future (I'm betting on Zohar's theory, going for foreign coins). Myself, I am so lucky to have a son that has the collectors gene and I intend to leave part of my collection to him to build on in his life time. I'm going to sell the rest myself over time and use the money to buy a few of the coins I always wanted just so I can feel what it is like to own them for even a short period. My "mentor" coin collector when I was a kid always told me to sell off the common stuff and keep the rare ones. His version of a Lincoln Cent collection was a 1909sVDB, 1909s, 1914d, 1922 no d, and a 1955 double die all in uncirculated (this was all pre slab days). He used to always tell me "the rest are easy to get, I'll go back and fill in the holes when I am older". When he died years back, his whole collection fit in a small safe deposit box but consisted of all key date coins and he was so proud of those coins. Just do what makes you smile and you can't go wrong. It's not about the money, it's about the joy. |
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Pillar of the Community
United States
1083 Posts |
Some great posts guys and lots of food for thought. For now I am going to just leave things alone. I got some albums out of the bank box and have enjoyed looking at them. It reminds me of all the effort that I went to complete them. I am not all that sure that trading a complete set of circulated coins, some from my family, for one or two BU coins in a plastic tomb, would provide the same satisfaction as looking at those sets. Money isn't everything.
Edited by okie-colin
09/23/2009 09:23 am
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Moderator
United States
188213 Posts |
Well said, Okie! I believe you made the right call.  |
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Replies: 13 / Views: 1,793 |
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Posted 09/18/2009 12:53 pm
