My main coin purchases are me buying to try to sell for more. My personal collection is modest. I probably have no more than $1,000 worth of coins. Nothing I have individually is worth more than 75 dollars. It's a mix of everything from silver dollars to large cents. Nothing is near to my heart. What is dear to me is my Franklin set, which is not included with the above total. I finally completed my BU set. My intentions were to never get the first four proofs because of their price. Recently, however, I was able to purchase a PCGS slabbed '52 PR64 Cameo and a '53 PR63 at bargain basement prices. Here's my dilemma. Now I'm only the short the first two proofs. I'm itching to complete my full set now, but the prices for these two proofs are way out of my league. I'm thinking about selling my thousand dollar collection to purchase these two. I can always get more Morgans and other coins later a little at a time. What would you do?
Common coins are common coins. If they are not near and dear to your heart like your Franklin set seems to be then I would sell it in a heart beat.
No answer at the moment since I'm going through the same struggle. Deciding whether to sell a part of my collection to afford another part. But for me there will be no "later". IF I sell there will never be a replacement later.
This is a question, I assume, many collectors have. I struggle with this constantly. Aside from selling duplicates and 'junk' silver, I am not so sure I can pull the trigger on selling some of the rest to finish some albums because, like kanga, I will not replace them.
I had the problem of always purchasing "low ball" coins for a good part of my early collecting years. This was mainly because I was always on a tight budget and felt it was better to get a lot of coins instead of 1 nice one. In nearly every instance, these common coins have either lost value or only increased with silver melt over a nearly 30 year period. There were a few times that I actually saved and bought nice key date coins in higher grades. These have all nearly doubled in value or more. Lesson learned. I always try to find the nicest example of any coin in any set I'm working on. Since you love the Franklins, it is a no brainer to me for you to sell the "dreck" and work on finding the nice early proof's. BTW I would be sure to double check the coins you have (especially the early copper) for varieties, errors and whatnot just to be sure you don't accidently sell a great coin.
You said that you have been collecting for almost 30 years. If we look at only return in investment I would argue that your nicer coins haven't done as well as your silver. You say your nicer coins have doubled. Your silver coins have increased by 50% just over the last year. 1990 saw a silver price of $5, you have seen a 500% increase since that time. To the OP, If you have the chance to trade something in your collection that you don't love for something that you do, do it. Every time!
Already in the process of selling pieces of my collection. Selling for upgrades and to reduce what I concentrate on. So I would sell and get the pieces you want.
I am in the process selling coins I no longer have interest in to buy a few coins coins to finish a couple of sets. The ones I am selling are from set I can never complete because of some coins prices in the series. I agree with selling them to obtain your goal.
You are right camlov2, I guess I was thinking Numismatically these coins haven't done so well. The increase in bullion value has changed all that. I stand corrected.
