| Author |
 Replies: 23 / Views: 2,571 |
|
Pillar of the Community
United States
844 Posts |
Hi all!  So I'm wondering how the majority picks a coin for their collection. I'm not talking about when you're on a mission for a specific coin. I'm asking about the times when you just happen upon a place selling a variety of coins, and you have a little cash to blow.  Can't wait to hear your responses! |
|
|
|
Pillar of the Community
Luxembourg
588 Posts |
I always have only little cash compared to the coins available.
I am looking for the coins that best fit into my collection and which are at a reasonable price.
I also tend to favor deals with traders that I know and where I liked the previous transactions.
|
|
Valued Member
Canada
311 Posts |
When I go to a dealer to buy coins, I go with purpose. I know what I need and I buy the best coin that I can find. I always have my want lists and I always work on a couple parts of my collection at a time. Right now I am trying to complete a second set of Lincoln's and I am using this set to upgrade my first. The best coin does not always mean the most expensive. Sometimes dealers prices or grading don't make sense. I try to keep focused but sometimes a coin just screams out "buy me".
|
|
Pillar of the Community
 United States
844 Posts |
I'm hoping I'm not the only one that will buy a coin just cause it's neat?
I collect world coins, and don't always have my two ton book with me. Sometimes I'll just buy one that catches my eye. I'm not saying I'll throw down a twenty or fifty on one at a whim. But I don't always have a purpose to buy one.
Is this wrong? Should I be doing things different?
|
|
Moderator
 Australia
16816 Posts |
Quote:
I'm hoping I'm not the only one that will buy a coin just cause it's neat?
...
Is this wrong? Should I be doing things different? No, no, and no. This is a hobby. You "should" be doing it in the way that gives you most enjoyment. I collect world coins, ancient through to modern, and I certainly don't carry around with me all the books and catalogues I'd need to track all my potential purchases. Most times when I go to a coin dealer or coin show, I don't even have my wantlist with me, though that's usually because of laziness and/or forgetfulness on my part, rather than a deliberate "no wantlist" policy. As for answering the question, "How do you choose a new addition?"... Quote:
but sometimes a coin just screams out "buy me". I too listen to the little voices of the coins calling out to me. The ones that say, "I'm trendy! All the cool coin collectors are buying me!" I have no trouble ignoring. The ones that say, "I'm so pretty! So shiny and new, with all the latest gadgets and gimmicks!" also don't get my attention easily. I'm rarely tempted by the ones that say, "You must have me to complete your set! You will be incomplete without me!". I've never been much of a "set-builder". I assume there are coins out there that say, "If you have to ask how much, then you can't afford me!"... but I've never heard them since I don't tend to visit the dealers that sell that kind of material. The ones that say, "You have never seen me before, and you might not ever see me again!" usually get my attention. The ones that say, "I am a mystery. I shall tell you nothing... well, perhaps only a few clues!" usually have me hooked. There are a very few that say, "Listen to my story, and I will tell of a faraway land now lost to history, of a once-mighty king whose very existence is now remembered only by me.". They will get me every time. 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
|
|
Pillar of the Community
United States
2605 Posts |
Sap, you are a coin whisperer!  I also collect world coins. I oftentimes visit local coin shops and dig through their scratch trays of coins unwanted by "the collectors". Just see if I find anything new. No wantlists, no catalogs. Sometimes I have my laptop along with my inventory to make sure I don't pick up a bunch of duplicates. I'm drawn to "exotic" coins, the ones with scripts "nobody understands". I used to be intimidated by them (and that's why I have a better chance of finding something I don't have yet) but now I enjoy IDing them, and I'm happy when I find an under-appreciated "gem" without a big price tag! |
|
Pillar of the Community
United States
844 Posts |
Yes! That is what I'm wanting to hear! Sap, you nailed it! I don't have the desire to buy the trendy gadget and gimmick so called "collector" coins. To me, if they are advertised as "collectible" they aren't worth my time. And I sure as heck don't want them if they are not endorsed by or affiliated with the U.S. Mint, or for us "world coin" collectors, an official mint. svslav, your last paragraph is right on with the way I am. There are times that I will buy a coin and have no idea where it was from or what it is. I am getting better at identifying coin origins, but still have a very long way to go. Yes, the under-appreciated "gems" are what I'm all about. Ok... I do have a thing for all U.S. coins too. Lately the Morgans, Peace dollars and the 1866-1883 Shield nickels. By the way, I have been hitting a lot of the Antique stores and indoor flea markets for coins. I've found that depending on the booth, there are pretty good deals on coins. Both U.S. and Foreign. Thanks guys for your input! Anyone else? |
|
Bedrock of the Community
United States
20753 Posts |
I suggest you do as I do. I go to a lot of coin shows so prior to going I make sure I have a list of all the coins I need to fill Albums. Then I make another list of those coins with possible prices I could expect based on the Red Book, PCGS web site, dealer web sites, ebay, etc. I then average all those prices and add a column for that. Now I also make a list of other possible coins I may just want, would like to have, should have, etc. Now I go to a coin show, leave thost lists at home and just buy what I see that I like and can afford. See, it's simple.  |
|
Moderator
United States
188052 Posts |
Quote:
I'm not talking about when you're on a mission for a specific coin. I'm asking about the times when you just happen upon a place selling a variety of coins, and you have a little cash to blow. I do not think that has ever happened since I have always had a list to work from. However, I am now feeling impulsive!  |
|
Pillar of the Community
United States
6326 Posts |
Sadly, strategic planning, has rarely been one of my strong-suits with coin collecting. I wish it were ! And I struggle with trying to be better organized and have short-term goals that I can set and accomplish. But, I'm usually going from one denomination to the next depending on just what I feel like at the time. I'm getting more "settled down" as the years go by....and as my budget shrinks ! I have little choice nowadays, but to be more focused on something to acquire.......I haven't bought anything for awhile, so we'll see when it comes time. I do have a $20.00 gift certificate to my local coin shop from Christmas.....but I can't figure out what I want to buy with it ! Maybe if I "chip in" $30.00 or so.....could get something N.I.C.E. ! Quote:
I'm asking about the times when you just happen upon a place selling a variety of coins, and you have a little cash to blow Yeah, in the Spring and Summer, I seem to find myself in places JUST LIKE THAT ALL THE TIME !! .... "Coins" were never even on my mind when we headed out to "wherever"......then suddenly the wife hollers ... " Honey they have coins over here !" ......  Edited by eaglefoot
02/07/2011 4:01 pm
|
|
Pillar of the Community
United States
844 Posts |
 Hey at least your wife would let you know! Mine would steer me in the complete opposite direction! Ok, she's not that bad. Actually she did something really nice for me last year. She saved up all her change for like three months. Then, gave it to me for the Labor Days sales. They have around two hundred booths set up in this old historic town. People selling anything and everything. I'm there for the COINS!! She was able to give me close to $100.00 to just buy whatever (coins)!  I'm so glad to hear how people do their collecting! jbuck and just carl, I think impulse buying for coins is great when it's cheap! List or no list it's always fun in my book. |
|
Bedrock of the Community
United States
20753 Posts |
Quote:
I'm so glad to hear how people do their collecting!
jbuck and just carl, I think impulse buying for coins is great when it's cheap! List or no list it's always fun in my book.
Coins are nothing like a car, house, boat, gardening tools or a jack hammer. Those things are not really to much fun but coins are eally supposed to be a hobby and a hobby is supposed to be fun. I go to lots and lots of coin shows. Since you really have no idea of what is there at all, it is really impossible to think your going to go there and buy a 1927S Buffalo nickel in MS-62 for example. And with virtually thousands and thousands of coins to look at, even if you do find that Nickel, probably can't remember why you wanted it anyway, if you find it at all that is. My only thoughts of coin buying at those shows is can I afford that one. And then again, even if I can't afford that one, so what, I want it anyway. |
|
Pillar of the Community
United States
844 Posts |
just carl,
I've never been to a coin show. Sounds like fun! My wife would have to put a shock collar on me though. It would get ugly.
|
|
Moderator
United States
23522 Posts |
I choose my coins with a purpose, a plan, and absolutelyO Look! A Shiny Object!
|
|
Moderator
United States
188052 Posts |
Quote:
I've never been to a coin show. You do not know what you are missing! I always enjoy myself, even if I walk away without purchasing anything. Seriously, yes that happens.  |
|
Bedrock of the Community
United States
20753 Posts |
Quote:
I've never been to a coin show. Sounds like fun! My wife would have to put a shock collar on me though. It would get ugly. They are really amazing. Try to find some small local ones and don't forget to check out coin club coin shows. Regardless of how big they are there are always thousands or hundreds of thousands of coins to look at. At some you can buy Albums, Folders, plastic rolls, 2x2's and lots of other items much cheaper than on the internet or a coin store. Some have free copies of Coin World or Numismedia on tables for you. And too there is always the many other situations that may pop up. For example someone I met at a coin show and was out of work but still hung around the coin shows got hired by one of the larger dealers. So now he gets coins cheaper and has a job too. |
| |
Replies: 23 / Views: 2,571 |
Posted 02/06/2011 3:40 pm
