Ancient - Who Doesn't Love Budget Coins?

How long should we wait for a coin we see and like but that has a flaw? If all you are seeking is 'any coin of ruler X in EF+" you can probably expect to find another in a short while. I buy coins I find interesting and hope to be fortunate enough to upgrade them. These three are all junkers but none will be found online or in auction catalogs I have seen. I suspect I will be taking them, unimproved, to the grave but hope I am wrong. Had I turned up my nose at them, I wonder if they would still exist. Maybe only I care. I am looking for a home for them when I'm gone (you can't take them with you, unfortunately). Grades do matter. In addition to EF and friends, there are grades Only Known, Best Known, Best in Private Hands, Best I've Seen and (the one I use most) Best I Have So Far.

 

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Obviously knowledge is everything - if you're only going to see a coin once in a decade, then buy it, but for the vast majority of coins and the vast majority of collectors, examples will come up more frequently. Terms like "Very rare" or "Extremely rare" should not be just taken at face value. Heck, if a 1909-S VDB cent can be called "rare", it would be more accurate calling almost every ancient coin unique and apologizing for slightly overestimating its rarity.

 

Ok...this thread is heating up a bit much.

I have to say that I have heard both major points espoused by different brilliant collectors, and they each make sense in their own way. I personally think that both ideas can be used and are valid, for instance if you are collecting some large series with 500+ coins, then you are probably going to not get the finest known of each.

 

This has been an interesting thread. Many of points of view, much misunderstanding.

Plenty of good advice by many folks. I enjoy reading every opinion even when I disagree.

AJ,
Fair warning... if you take your coins to the grave I'll pack a shovel and hop the next flight.

 

All right I guess 'OP' should respond. I waited until I got home because I wanted to have a somewhat well thought out response to everyone debating whether or not it is worthwhile buying budget coins. I mean I guess I did have it coming since I asked "Who doesn't love budget coins" and I definitely received some answers.

I guess since I see AncientJoe's as the last post I will start by addressing his points. You stated that it may have been a bit of a surprise that the coin looked how it did. I wasn't expecting miracles of a XF Gordian coin. I paid 8 dollars for the coin. It is true I already have a better example of a Gordian sestertius but if I hadn't already had that coin this one would fit nicely into my collection. You may be reading too much into that sentance. In fact I was pleasently surprised with the coins. I purchased these coins based on Frank's reputation and the respect other forum members have for him. I may not have seen the coins in a picture but based on his return policy, and his general demeanor through correspondance he isn't going to screw me out of 25 bucks. Not when he has thousand dollar coins in his auction already happening. I took a chance and honestly I think it paid off.

Well I understand that you believe that quality and grade is crucial I don't see it so. Beauty is in the eye of the beholder. I very well may hold onto the Hadrian for 20 years but I may not. What is so wrong with that? If I get what I paid back for the coin there is no loss except for the time I have spent researching the coin and enjoying the coin which along the way I have gained some very useful knowledge that will help me down my path later. I value my coins highly but that doesn't mean I will keep them 20+ years. Things change, my taste in coins will change I have no doubt about that. Doesn't mean I can't get the joy out of them now.

As for paying $6 for a coin now and not having $6. I doubt $6 will ever break an auction for me but I don't buy coins if I don't feel I can afford them at that moment I don't buy. There will always be other coins it isn't like I am buying a Mark Antony/Cleopatra coin that is rarely ever up for auction.

I wouldn't go so far as to call anyone coin Nazi's in this thread. Everyone has a right to their opinion and have a reasonable discussion.

Bing and JA you both are always welcome in Manitoba. We can stick you up in Gimli. It's close enough to Winnipeg that you can come in for the monthly coin show but far enough away that we have an excuse when we only visit you once a month

Geoff - I enjoy your strategy just buy the coins that you will enjoy and enjoy the research and history behind the coins. I feel that the history is sometimes lost upon collectors. They don't ocassionally stop to marvel at the life one of their coins may have had.

Steve - Thanks for the defense can't wait to see the coins you got today.

IOM - Thanks for calling me well reasoned!

I will end with a small insight into Whizb4ng. I graduated last year with a Classical History degree with a boat load of student loans to pay off as well as saving to pursue a Master's degree in the field. If I didn't have these two things over my head ( I am paying off my student loan in 5 years so hefty payments) I may be turning out $150 dollar coins as well but I am not and enjoy the coins I do have. Contrary to belief expressed in this thread I do in fact save for my coins and take quite a lot of time before I purchase, this was an exception. I also grasp opportunities and have the ability to make quick decisions which is how I received the job I had today and the one before that these positions will potentially allow me to have 1/2 of a Master's degree paid before when I enter it. I reacted quickly and spent $25 on two coins (I won't get Tim Horton's for two weeks). I am overjoyed with the Hadrian and while I do have a better Gordian III it does not mean I don't like the coin.

I appreciate all of your opinions. I hope you will hold your breath for a week or two because I have another coin upcoming that I am excited about.

This post became longer than I expected and while most of it is directed at AncientJoe it was more a general to everyone. Hope you don't take offense AJ!

 

You didn't get a bad deal, and I assume you like the coins. All that matters
Heres my Hadrian sestertius

 

No offense taken - my main concern was your "dislike" of the Gordian sestertius as I read that you were expecting an upgrade to yours and now you have to go through and sell it. I like your Hadrian and I agree that a few dollars here and there isn't going to break the bank, and certainly produces quality enjoyment. I think the history behind coins is the most appealing aspect of it all and I do often pick mine up and just stare at them for minutes, dreaming of their history.

That said, no one knows what opportunity will be coming around the corner. $25 every couple months isn't going to change the financial picture of most people but if you start spending $500 here, $600 there, etc. on coins which are not "all there" for the type, you could tie up funds that prevent you from getting a really great $1000 purchase, as you may end up losing a fair amount if you tried to sell in a hurry.

Dealers love understating problems when selling and emphasizing on them when buying. It's the nature of the business, but if you buy quality coins and eventually want to trade up to an even "bigger" coin, it will be easier to sell them and you won't get dealers saying "Well, it's nice but it has X wrong with it"

Glad to hear that you enjoy your purchase and I look forward to hearing your insight with your Classical History degree!

 

I agree 100% in that the value to you is the primary consideration. Moreover, it does happen - more often than we can count - that a knowledgeable dealer unloads a coin at a bargain to get rid of it, only to have it purchased by an expert collector who knows its true worth.

In this, coins are more like people, and less like atoms: they are individuals, not statistical events. They obey no laws, but can only be described.

 

Oh I completely agree with you regarding the $500 or $600 here or there. I don't know if I will ever have that much disposable income at one time to ever purchase a coin. Maybe if I ever completely my goal of Ph.D. and Professorship.

I know what you mean with dealers and I accept it was a gamble with Frank but I based it on reputation and honestly having experience his process once I will most likely do it again.

I goofed around mainly during my degree. A lot stuck but it is causing troubles now. The earliest I can start my Master's is approximately 2 years from now since I need to complete a couple of the language classes and honours classes before I qualify. My GPA is there though and now that I have worked for 2 years I appreciate school a lot more and won't mess around with my future as much.

 

ahahaha, Dude => ummm, we're both from Man"i"toba and we're both collecting ancient coins!! (say no more!!)

=> I will always have your back (end of story, my friend) ... I find you refreshing and friendly!!

keep-up the great work ... I wish you nothing but great coins in your future!!

NOTE => I hate conflict => I honestly hope that everybody has a great time (I like all of you dudes)

 

Once agin Doug gets the point
I would add it depends on what you want for yourself. I've solved the problem by collecting in two different directions
One is a general collection of roman coins (mainly Empire, but with a growinginterest for RR) where I'd like to get "any coin of ruler X in EF+" and must modestly confess have some succes at it :





The other is a very narrow specialized field in coins of the place where I live, in which much is to be discovered and I'm very happy with crap as they are most often "the best known" or event "the only known". I've been lucky enough to event discover a new gold coin. Well it's not EF though....



first known for 1579


first known for 1608


second known for 1674

Q

 

wow => great coins, Cucumbor!!

It must be exciting to have an opportunity to actually dig-up an ancient/medieval coin, eh?

=> man, I am totally jealous ... sadly, it is a fairly long-shot that I'd ever find anything buried up here, other than perhaps an old frozen moose-apple?!

 

Wow, I sure didn't expect an ancients forum to turn out this lively. I'm glad I joined!

Reading through the thread and the various interesting opinions posted, I had two thoughts :

When I first started collecting a year ago and was reading the online resources, I remember coming across an article which suggested that you could happily collect ancients whether you had only a modest budget for the occasional budget bin beauty, or an extravagant one for weekly additions to a private museum of pricy heirlooms. To this I'd add that regardless of what you can afford, I think everyone probably has their own collecting motivations and personality, and you can only collect in a fashion that will personally satisfy you.

And following through with the idea of collecting motivations and personality, there's a famous quote by 18th century gastronome and writer Brillat-Savarin which goes "Tell me what you eat, and I will tell you what you are." The coins we collect and why we collect them would probably tell us everything we need to (or care to) know about ourselves. A psychology student would probably have a field day with coin collectors.

Finally Whiz - grats on the score! That Hadrian is especially nice. I'm still waiting for the $6.90 Constantius Gallus fel temp I won from the FSR bargain sale.

Z.

 

Cucumbor's coins are really nice but I suspect he will replace the Otho with another of equal beauty that has the name OTHO on the flan. We each will have to decide what factors are most important. This Otho is a great coin as it is but I suspect the auction would have attracted more bidders with full legends. Does that mean that he should not have bought the coin? I wish I had a space filler that nice. He will have no trouble selling it when the perfect one appears. It will be a long, long time before he needs to upgrade the beautiful Alexander.

 

That makes me a decrepit old Arab.

 

Huh, that means I'm some sort of weird mix of snakes, eagles, goats and dolphins!!

... Bing was right!!

 

Not dug up though, as I'm not a detectorist : I have to buy them...

Q

 

You are right as for the OTHO legend. I've been wondering for a long time whether I shoud replace it or not because of that and decided not to, the portrait and metal being so fantastic in hand. I don't need the full legend, I know it's Otho on it

Q

 

Say that again. I rarely hear that.

 

I suppose that makes me a handsome nomad!