I suppose this varies by personality types. Some people change entire hobbies regularly while others might stick to things their entire lives. I'm wondering if it's common for collectors to go through these same phases over time and have similar experiences. A -In the beginning, perhaps at a younger age, you have discovery or re-discovery of the hobby once you have a little more disposable income. B - Thanks to internet, you discover everything all at once and you decide to ramp up your collecting quickly. Interests and purchasing are sporadic. For a while you want everything. C- Years go by. Learn more. Collection "balloons". (lol) D - Eventually interests narrow (though maybe not enough). Collection continues to grow. E - Get older. You've done well collecting and had many successes. Discover new interests within the coin realm. Have periodic thoughts of pairing down but don't want to deal with it or too attached to want to let stuff go. F - Finally in the end you have to decide what to do with the collection since there may not be someone to pass it down to that is as interested with it as you are. Granted this is simplified and overly condensed but I have reached E. I spend a lot of time feeling like I have too many irons in the fire but don't know which ones I want to let go. Often have a desire to want to pair down and simplify things. Currently I have six different collection focuses. Maybe sometimes you can have too much of a good thing. Even storage becomes an issue. At what point does it become an unhealthy exercise in hoarding over simply collecting? Sometimes it feels like hoarding and if I feel overwhelmed by it, I can't imagine how my spouse would feel should anything happen to me. I have some unique toned stuff that wouldn't be found again. Have plenty that have sentimental value. Have things from the 90s that I know who, when and where I got them from. Have stuff from 2008 I know where and how much was paid just in my head. Can remember the experiences I had purchasing stuff 16 years ago. I have a strong appreciation for coins, from all eras. Well thanks for letting me use the forum as a sounding board/support group. lol I'm trying to figure out what I want to do. So far the answer has been do nothing because just don't want to deal with it. (There's actually more coming in the mail as I type.) I have sold a few over the years so it's not impossible for me. If I lived next to Great Collections office it'd be easier to convince myself than to ship a box to them. I hate the shipping risks.
I'm at E. F should include a desire to document things yet not having the inspiration to do so. I never really went through B or C - I'm happy to collect images and knowledge more than wanting to own everything. I made some random purchases that didn't fit with anything and learned my lesson - what am I ever going to do with that? I've never had any interest in selling anything and doing so seems like a hassle. Better for the heirs to do it and take what they can get - it's free money. I'd be disappointed if they sold grandpa's coins, but they never had any connection with him and lugging it around with me for the past 50+ years I can see why they wouldn't do the same.
I think B-C-D-E can be a continuous loop. I've discovered new interests, learned more, collected, completed a collection, and pared it down - I've completely sold off 2 sets that I was done with, and moved on to other interests.
If you're a hoarder, it's really, really hard to stop. It seems to me that coins can be an outlet for hoarding, a kind of "harm reduction". They're more compact than most other things people hoard. They don't need to be fed or cleaned up after like animals. They don't spoil or expire like food or trash - heck, they aren't even a fire hazard. I supposed they could fall on you and crush you, but you'd have to work at it a lot harder than newspaper or book or hardware hoarders. And when the time comes for someone else to clean up the mess you leave, coins are a lot easier to get value out of than other things. True, they might get ripped off by an unscrupulous dealer offering 10% of actual value -- but that's still a better return than you'd get from stacks of newspaper or canned food, right?
I'm in phase D currently. I buy quite a bit still, but in a narrower focus. About once a year I also purge some of the items from the collection. These are coins that I have either upgraded, use to finance other coins or simply don't like anymore. I have a core collection of about 50 coins I will likely hold onto until my collecting career is over.
Cool thread, and I feel the need to add that while in stage E or F, if you actually do start selling, be careful. People always discuss the addicting nature of collecting/hoarding coins, but nobody ever prepares you for the absolute thrill of making a sale. I hear that cash register sound come from my phone and I practically jump out of my chair to see what sold. Then you realize that you spent decades building your collection, and now you have a way to finance your further collecting interests without spending anymore money. Then another decade passes and you realize that you are now buying coins with the sole purpose of selling them for a profit, and unintentionally, you have become a part time coin dealer.
I am of the age where I should be selling, but I'm not. My interests have had many facets through the years. In high school it was Indian Cents and type coins. In the early 1970s, I lost interest in the Indian Cent set, which I had completely and sold it for a big percentage loss. The type coins stayed with me, and I kept working on the set. I finally completed it from the half cents to the “old commemorative coins,” including the Pan-Pac $50 gold pieces a bit over 10 years ago. I got sick of what CAC was doing to the hobby, so I switched to British coins. This time it was at least one coin for each king, going back to Alfred the Great (ruled 871 to 899). Then I collected imperial Roman coins, starting with Julius Caesar with a couple of pre-Caesar Roman Republic coins thrown in. I’ve hit a wall with the very late emperors. The coins are expensive and hard to find. When gold coins are your cheapest option, you know it’s getting up there. Now, I going for one cent from 1793 to 2025 or ’26, whenever it ends. I collect a few varieties, but mostly it’s one a year. That means I had to collect the Indian Cents again. This time, it was much easier. I even have an 1856 Flying Eagle which is coin I thought I would never own. They are not that rare … only expensive. I enjoy collecting so I’ll keep doing it until I pass. There will be plenty of money for the relatives. As my wife says, “You can’t take it with you; let’s enjoy it.” I keep studying and moving forward. I get an article published now, which is an ego boost. My latest is an artcle about the one a year cent collection in "FUN Topics." I will be speaking at the FUN Summer show in July on the same topic. Stop by if you need some time to sit and relax.
Maybe there should be a letter in the list for that. I've had I think six articles published now in the BCCS journal and I imagine others on here have been published too. It's definitely a phase for some.
It's beyond a phase for me. I've been publishing for a long time. The most continous "phase" was a more than 200 radio spots for the "Money Talks" series, Heritage an the ANA sponsored in the 1990s.
I don't understand the concept of "selling" coins. You "work" hard (i.e. spend time and money) collecting a coin(s) or completing a set because you are interested in the coins and you have an uncontrollable need to complete the set (leave no holes behind!). Then you want to sell it? Why? I enjoy pulling the set off the shelf occasionally and perusing each coin. Then I put it back on the shelf, to be admired in the future at any time. Why bother collecting it if you don't keep it and enjoy it? Just me I guess. I'm not a hoarder. I don't have multiples of any coin in my collection...one and done. I'll upgrade by trading/selling, but I don't just sell it.
For me, I completed the set and that was the journey. I reached the destination. At the time, I felt I had achieved what I wanted to with that set, and my interests moved on. I didn't have the resources to progress without moving on... so I sold my old sets. I genuinely loved my Franklin set, but selling it allowed me to buy several of my Prooflike pieces. I kept a couple of my favorites, and I regret selling a couple of them... but overall, my interests moved on.
I have know collectors who sold a set almost as soon as they finished it. The most famous may have been Robbie Brown who was one of the first to assemble a comple set of large cents by die variety (1793 to 1857). Soon after he finished it, he put it up for auction. It was said that he was out putting together another set at the same show where his collection was sold. For him "the chase" was the fun. For me, "the chase" can get old, especially when I get beat up at an auction. I'm with you. I like to look at and study my coins.
My rule is that if getting a new coin doesn't make you feel like an 8 year old kid on Christmas morning it is time to move on to something that does. Still there. Just landed a CC Seated Quarter that has long been on my list. Can't wait ti see it in hand , grade it, break down it's die origins and learn some of it's personal history by studying it. I have health reasons that make it important , I at the same time. plan ahead to sell this very coin. It will go on Great Collections form #7. My daughter will execute the sales in the order I have organized them to cover a period of years. James
Sometimes a better coin just comes along. My avatar has been my 1939-D Rev40 for my registry set for 15 years. But earlier this year I found a mechanical error on Heritage. The coin was labelled as a 1939 R40 but was clearly a 1939-D R40, so I bought it at a discount price and sent it to NGC for correction. The coin has better color and a better strike with much better steps. I really have no choice but to include in my registry set and sell my avatar. As far as selling an entire completed collection, some people enjoy the hunt, and the hunt for upgrades just doesn't give them the thrill they need, so they sell their current collection and start a new series.
I’ve been a coin collector for 66 years. I stopped stamp collecting over 10 years ago and started when I was a grown man. I started antiques when I was a young man and still enjoy collecting them. So it varies with each person and what they collect.
I have had several major sells - with heritage I did multiple shipments. And yes I paid for insurance which was not cheap, but made me feel better. I usually pay for insurance but not always - so far nothing has gone missing. I never really been hung up on making a profit - but it is really really fun for a rookie like me. I love my local shop - they encourage cherry picking. I still remember 2 bust halves I told them they were selling cheap for date or variety. There response was buy them - so I did. I did buy them held on to them for 5 or so years and doubled my money on them when sold. That makes up for a few stinkers I bought from them. I believe a real expert could pick out coins locally and make money. I have met a couple of dealers looking thru their cases. I am at the stage where I buy very few coins any more. Most are graded now.
I’m pretty much at E too. I like to collect short series of U.S., UK and French coins in high grade and enter them in registries. Short series keep the cost and boredom down. Pretty much done with U.S. … only 2 coins on my “gotta have” want list. Have sold quite a few coins either to upgrade or “orphan” coins where I decided against the series. I won’t sell the most expensive coins in my lifetime because I would have to pay capital gains tax. My sons won’t have to pay inheritance tax, and I’ve left detailed instructions on how to sell the coins. One of the underrated advantages of TPG coins is that folks with relatively little coin knowledge can sell them with out getting ripped off … as long as they get just a bit of honest advice. Cal
