Well...it has been a long road for me when it comes to collecting. Because of my many years of schooling, I have had very little extra money to put into my hobbies...including my coins. What I have in my collection is 95% low grade pieces that aren't worth much. I have assembled this collection over probably the last 15 years. I have decided that it is time to go in a completely different direction. First off, I got my first paycheck in the mail yesterday...it is for the first 9 days of my career as a dentist and it is the largest paycheck I have ever received. It's not a ton of money...as I am working for a company as an associate and I have massive student loan payments, but it is enough to allow me to set a little aside for my hobbies. I have discussed it with my wife and we decided we can afford $150 each per month to put towards our own interests. This allows us to still pay all our bills and save what we believe is a responsible amount. I have decided that I will use a portion of this "monthly allowance" towards my coin hobby. I also have decided to go through my collection and sell off the bulk of it to "reinvest" into the hobby. I find myself very unsatisfied with my current collection because I spent so much of my time trying to "fill holes" in albums that I neglected to focus on quality. It was the mistake of a young enthusiast. I have spent the last several months trying to decide what "set" to collect and have floated a bunch of ideas but I didn't fall in love with a single one. My interests are very wide and I don't want to focus on just one thing. For the time being, I am going to collect "singles." I am compiling a list of individual coins that I want in my collection and I am going to save up and purchase them. I may only buy 15-20 coins per year during the next few years but each piece will be individually selected for my collection. They will be coins from many different series...in many ways this will resemble a type set although not all types will be included. Just individual coins that peak my interest for various reasons. At this time (for US coins), I only plan to buy slabbed coins...preferably PCGS but also NGC. I feel this plan will be extremely satisfying and very enjoyable.
I feel exactly the same way, I have very broad ambitions. Which makes it tough to focus on purely nice grade specimens. So in turn, means I have a lot of low line to mid grade pieces. I wish you the best in your collecting endeavors, the few coins you obtain are sure to be beauties.
Sounds great to me. Seems like you've invested some considerable thought into this plan, which is smart. You always gotta have a plan. Happy for ya man. Best of luck.
At one point or another we find ourselves beginning to 'hone' in and specialize. We cast off (sell) what previously was thought of as necessary and important and begin to transition into our major specialty. It's very difficult to 'cut loose' these pieces.....at least for me it is. I'm finding it both difficult to convey my situation and reluctance to part with a collection that I grew up with. It's difficult indeed. There are certain portions of my collection that I'm loath to relinquish. A wise man once said that you shouldn't get too attached to your investments. Thing is, this endeavor ain't an investment. In the end, when the time comes for heirs to sell, most of what I've accumulated will probably not realize what was initially paid into it. Just rambling here. It's late, and this old boy is tired. Time for me to sleep.......
It sounds like you are a type collector in the making. If so, I can help you quite a bit with questions. Also, congratulations on the degree and getting out into the field.
I understand this feeling. Although not worth a lot...there are many wonderful memories tied to this collection. In all likelihood, I will keep some of the old circulation assembled sets and give them to my children someday (probably can't sell them anyway). I figure I will sell a lot of it...but a few things will remain.
I don't know if I am truly a type collector...I do have sets I want to assemble, I'm just not quite ready to settle down and do it yet. One example is the Morgan Dollar set I am dreaming about. At $150 per month, it would take several lifetimes to assemble the set I want to assemble. But, a few of my "singles" will certainly contribute to that long term goal.
Can I just say this: As someone who is a year behind you in the process (I'm starting my final year of grad school in a week) I'd like to wish you the best of luck, and I hope to be in your position in a year (or less.) Being a dance professor probably won't pay anywhere near what being a dentist will, but I plan to do the same thing that you are doing. I'd also like to say that, as someone whose "collection" is pretty much a mishmash hodgepodge of lots of random stuff...I have also decided to clear out some room for some key dates and better coins. My first two are an 1877 IHC and a 1916 D Mercury Dime...not a bad couple of coins to search for, eh? In any case, best of luck, and if I end up in the same city as you once I find a job, I'm absolutely looking you up as a dentist. I fully expect to pay my bill in coins.
