What can make coin collecting better?

Log in or Sign up to hide this ad.

You didn't share your strange idea. What is it?

As for what might help our hobby I'd settle for authorities going after counterfeiters and pressuring our trade partners to do the same.
Lance.

 

Very nice. Sounds like you could be a prospective ancient collector.

I started out in US colelcting the same way, but since our history is relatively limited, I then moved on to the wider world of ancient and medieval coins. Here I can find coins of civilizations not even known otherwise except for their coins.

Chris

 

This may sound like a add but I learned a long time ago that when I was willing to commit my money to the hobby at a certain dollar level I was going to have to commit to certified coins. Having the third party grading in the loop made it much more likely that I was not getting a fake and or over graded or messed with coin for my money.
When I now buy coins especially on line I refine my search to the graders that I like and then the coin I want to get. For many that do not have ready access to coin shops or shows the hobby being on line adds to the fun.
I also image and display my collection in the registry witch gives a feeling of community just like showing whats newly arrived on this forum.

 

Quick aside, but you are absolutely right. I have spent so long admiring toned ancient copper that new copper, bronze, or brass looks absolutely horrible to me. I have posted about a man who recreates ancient coin striking, and how he does a great job, but still, when I hold an "ancient" coin struck from new copper, I hate it. If it were possible to buy BU Red ancient copper coins I truly do not think I would.

 

I think sharing your coins and viewing other collectors coins really increases the joys of collecting. Having a nice collection is great, but being able to share it with others is even better. Especially when you can do it online without having to worry about the security of your collection. The coin community or 'coinmunity' as a whole, is very friendly, and very knowledgable.
I personally love imaging my coins. It brings me great joy when I share my coins, that others can see the same beauty in them that I do. My wife and kids just don't get it! lol

 

I just wished I lived closer to Detroit Gbroke and could talk you into taking shots of my coins. I truly just don't have the inclination for photography. I am envious you do.

Chris

 

Trust me, you want to live as far away from Detroit as possible! But if you did, I would gladly do it!

 

One thing that would make it "better" would be for collectors not to be slaves to their collecting.

By that, I mean that many collectors buy certain coins because they feel as if they must - because there are X number of coins in a "set", because an album has X number of slots, because others tell them that they should, etc.

Collectors should buy what they like and because they want to, not because they are forced to. That said, I also hope that when they do so, it is on an informed basis.

 

Everyone is going to hate this idea because of the ability to reproduce coins for illegal gains. But I think one TOOL that would make the hobby even more exciting would be some sort of home mini-mint. some way to produce one or two coins of your own design to trade with others.

 

I agree! I would also want some silver content to back it up. :thumb: TC

 

Honestly, this is a very large shortcoming to US collecting for beginners. Its not anyone's fault, but those penny boards create this "need" to fill the holes. When beginning collectors see they can never hope to buy the 16d, or 09sVDB, or the 1877, then many lose interest.

I think date/MM sets should be more advanced goals for most collectors. I advise building your own type set for beginners. One, it can be much cheaper, and two, it exposes them to all of the great designs this country has made.

No holes to fill is one of the greatest things about ancient collecting, and I avoid the only real one we have, (12 caesars), just for that reason. I don't want to be compelled to buy something I am otherwise not interested in. The only "set" in ancients I have ever made was the anonymous bronzes, and that was because I am intriqued by these coins, and got all but one in one purchase.

Chris

 

All my $5, $10, and $20 are gold coins.

 

I started as a kid just trying to fill an album. Then I lost interest during my teens, then got back into it as a adult. With that in mind, I think the State Quarters were a great start for future generations.

However, kids these days need instant gratification. So I think there needs to be some way of taking a photo with your cell phone and some app that gives you some knowledge about the coin (stuff like the WWII shell casing tidbit mentioned above). Is there an app for that?

-- Sent from my HP TouchPad using Communities

 

I collected when I was a kid, but slowed down seriously although I never gave up. I am starting to get more active again. Because of the price and availability of lots of American coins, I started to collect foreign coins, mostly because "Hmm that looks interesting" or "Wow, I've never seen a coin from there before". Recently my daughter married a guy who was raised in Singapore, which prompted me to see if I could put together a set of Singapore coins. I ran into two series of coins, one with pictures of animals. Between what I already had and some enjoyable times going through dealers junk boxes, I was able to do it. What fun.

 

Hi Doug and thanks.

Below are my tips for collectors, which you asked about.

Following, in no particular order of subject matter or importance, are my unsolicited comments and advice about coin collecting for collectors - please feel free to contact me at any time if you'd like to discuss any of these topics.

1. Buy/collect what YOU like. But keep in mind that when it comes time to sell, not everyone else will necessarily like what you did/do.
2. Examine as many coins as you can which have been certified/graded by the most highly respected grading companies. This can be done at coin shows and in auctions and is a great way to improve upon your grading skills.
3. The best way to improve your grading ability is to find someone who is highly qualified AND willing to spend time reviewing coins with you. That person can be a dealer or collector, but he needs to be more than just a friend - he needs to be a teacher. Many individuals are "qualified" OR "willing to spend the time", but few are BOTH.
4. Don't keep buying coins without ever selling any of them - learn what it's like to try to sell, too. Once in a while you should offer one or two of your coins back to the dealers you acquired them from. See how they deal with that type of situation and whether they want to re-acquire those "gems" they sold to you.
5. Don't be afraid or embarrassed to ask lots of questions. You and just about everyone else can learn a great deal that way.
6. Be aware of privacy and security concerns. It might not be fun to do so, but it's extremely important.
7. It's always good to get a second opinion. Doing so doesn't make you less knowledgeable, worthy or confident - it simply makes good sense.
8. Don't try to get bargains at the expense of quality and desirability, or you'll likely end up with sub-par coins which aren't bargains, anyway.
9. Generally, I advise against "investing" in coins. Even if you are very well informed, based upon buy/sell spreads and other factors, the odds are against your success. That said, I understand that many collectors end up spending significant sums of money on their collections and can't/shouldn't ignore the financial implications.
10. If you are going to "invest", I'd suggest diversification - not putting too much of your money into one coin or one coin type. I'd also recommend staying away from especially esoteric and/or illiquid and/or currently "hot" items.
11. While it is not a pleasant mindset to engage in, think about and plan for how your coins should be disposed of if/when something happens to you. Make your spouse and/or family and/or friends and/or an attorney aware of your wishes. If you have a particular dealer or coin/auction company that should be contacted, have that information recorded, along with costs, sources, purchase dates, etc., of your coins.
12. Eye-appeal is hard to ignore, but technical quality shouldn't be over-looked/compromised.
13. If you participate in auctions, whether over the Internet or in person, set your price/bidding limits in advance and stick to them. Auction fever hits many bidders, and almost always to their detriment.
14. Find time for other activities that don't have anything to do with coin collecting. Don't make coins your whole life - life is too short for that.
15. If you are going to stretch to buy a coin, do it for a coin which is truly special and/or virtually irreplaceable, not on an ordinary one. There are far more of the latter than of the former, and there will almost always be other opportunities.
16. Don't talk yourself into buying a coin. If something about it bothers you now, there is an excellent chance it will bother you as much or more later.
17. Don't be lulled or suckered into a false/unrealistic sense of security by the strength of many areas of the market that we have experienced for several years now. There are good markets, and, while some current participants might not have experienced them yet, there are bad markets too - I promise.
18. Do not buy rare coins on a sight-unseen basis, regardless of the seller or the images.
19. Enjoy our hobby.
20. I repeat, enjoy our hobby.

​

​

[SIZE=-1]©2004-2010, All Rights Reserved
Logo Coin ©2004, American Numismatic Rarities[/SIZE]​

 

I know I have said this a couple of times, but this really should be put under a special post for newcomers to coin collecting.

Excellent post Mark, I agree as well. Great points.

Chris