Would coin collecting be fun?

It would be great because then I could put together a really comprehensive numismatic museum and library.

 

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Yeah I remember when liking a particular band/genre of music was all about 'zines & mixtapes, an obscure postal network of friendly insiders. The interwebs killed that scene (and not even 15 years ago) - to say nothing of file-sharing - now everyone knows that obscure band from wherever, last year. Is that worse? (It is for professional musicians in Pandora rotation - they're getting almost no residuals nowadays.)

No. Rubes still subscribing to print rackets like BeanieBabiesWorld (or whatev) finally discovered there was ZERO value in plushies. The internet disabused the last generation of foolish Americans, I suppose. Now folks in the boondocks are nearly as well-informed (if they choose to be) as any Manhattan sophisticate; that helps enormously. It was NOT always thus.

And I think coin-dealers everywhere are ALOT more fair & honest as a result. The interwebs introduced them to a national client-base - what part of a typical small dealer's biz is now online revenue, 50-70%? I'm a huge fan of more knowledge, better access and democratizing that holy grail once called 'expertise.' It does tear away the mystique - and everything is changing much more rapidly, that can be rough. So I always wonder: what comes next?

Maybe I'm waaay out there, but I have a hunch numismatics (among other types of real asset collecting) might be on the cusp of something altogether different; not disillusionment (of old school hoarders) but engagement & rebirth (with institutional investors, new money.) I'm surprised these instruments don't yet exist, already. If my thinking proves correct, this transition will benefit (in dollar-terms) collectors here, as they (or their heirs) cash out in the near future.

An easier (but less exciting) prediction? In 2013, we'll see Federal taxes on internet purchases: GUARANTEED.

 

I don't know if it'd be more fun or not, but it would definitely make me less astute about what I buy.

I don't make a lot, but I've been bitten by the coin collecting bug. I thought getting a few rolls of coins every two weeks would pacify things, but it isn't. I want to know more, and so I want to save up for The Cherrypicker's Guides. The search for errors will definitely teach me how to grade coins; I know I won't be a professional at it, but I'll most definitely gain some knowledge. This will benefit me in the future when I actually start dropping some serious dollars for a few pennies, as I'm sure it will happen.

If I won the Powerball, chances are I'd go big time real fast and start buying up coins graded 67-70, because I can. I wouldn't lose interest, but I definitely wouldn't be gaining knowledge, which means I'd always be at the mercy of the slab. I don't like that idea. I don't like that I'll have to save for 20 years in order to get a gold coin, but I don't like the idea that I have a ton but I don't really know what I have worse.

I don't intend to buy slabbed coins for a really long time, but I'm okay with that.

 

If money were no object whatsoever I still think there would be a lot of challenge in tracking down and finding what you want to put in your collection. I think even if your budget wasn't limited, there would still be the "thrill of the hunt" in finding what appeals to you, getting the best examples, and assembling a collection based on your interest and standards.

In the real world with a limited budget I think the same thing applies, you just have to set your sights a little lower and find the best things you want that are also in your budget.

Either way, yeah, I think there's fun to be had!

 

I would purchase every large cent on the market.

 

i think the hunt would still be there, no matter how much money you have there are some coins you can not just find. my first real coin dealer collects classic head quarter eagles, he has around 80 of them, but has been looking for an au 1939/8 D for years and can not find one. and think of all the pattern coins, how often do you see them? a lot of the super rare or unique coins do not come up for sale very often and the people who own them probably do not need the money.

 

you could be like the hunt brothers with large cents!!

 

if i ever have that much money, i would still collect. but my collection would become coins with a mintage of 10 or less. or high detail that is over 1000 years old. or something to that effect. it's the thrill of the hunt that keeps me going. and i can always find something that is elusive to keep me going.

 

Something like that, except I would not need to sell.

I would also purchase mass quantities of coins to give away to give the hobby another boost.

Also, with funds like that, I might just be able to put an end to TPG's.

 

good luck! as much as i hate tpgs, they are here to stay. that guarantee of authenticity on us coins is hard to beat.

 

That is true. Authentication is very useful even if the grading can be annoying.

 

i ignore the grading. all grading is nothing more than an opinion. and the only opinions at the time of the sale that matter are mine and the sellers. however, guarantee of authenticity from multiple experts... that's hard to beat. however, tpgs, at least ngc and pcgs, ONLY guarantee american coins.

 

id build a one of a kind numismatic muesium...

 

It would lead to marginal decline in utility, a.k.a
"burn-out." That's why everyone should wish for
me to win the Powerball tonight. I would use the
money to help humanity.

 

If I had unlimited money to buy things, I'd buy memories, as in, I'd primarily spend my money to create memories I get to keep forever until I die, those are more precious than materials.

 

I'd be that dude at rarities night with my paddle in the air until they told me I won.

 

I agree with Lee 100%. Sometimes it's not the challenge of affording a specific coin, but rather finding one that is suitable for a collection.

I spent over a year looking for a 1962 Cent in 68 Ultra Cam. The coin isn't rare, it cost under $100. the problem was finding one.

That was as satisfying a find as I can ever recall, so I would say that money (or lack of it) doesn't make the hobby more or less rewarding, it is merely an obstacle that narrows our searches.

 

I know of a guy that has dealers come to his house and show him ultra rarities out of a briefcase. I don't imagine it's about the chase or learning at that point. I suppose the satisfaction comes from knowing you don't have to rub elbows with Lincoln cent collectors or roll searchers anymore. Status and affluence is what drove the modern Chinese market through the roof. Its what makes some top collectors and dealers/TPGs so aloof. It's just being at a different level. Many people out there worth more than 400 million that collect coins I suppose, maybe one of them will chime in here.

Ive been thinking about some of this lately myself. In the beginning I just wanted a few coins that were nice and after I had a few I just kept reading, searching and buying. I've been able to stay focused over the years and have finished a set or two and have seen the good and bad in this hobby. Just thinking about "what is the point?" Isn't knowing these coins exist in the world enough. Why do we feel the need to "own" them? I always thought Doug actually has a collection just saying he doesn't to be safe on an online forum, but he might be onto something. I laid eyes on a PF Saint and an original Lewis and Clark peace medal at FUN once and I'm better for it. Owning it would not make me a better person. I hope whoever owns them really enjoys it!!

Collecting is fun, but I've been chilling on habitual buying for a while to see if this feeling passes. Maybe even sell a few pieces and downsize a bit.

Matt

 

That doesn't sound fun or satisfying.

 

It really depends on the way the collector thinks. Money changes the way people think and some may go out and try to buy everything they want without caring for price, since they have so much money. But you know what? at the end of the day all they will have is a bunch of stuff they overpaid for.

To me, collecting is a balance of examining the market. Condition and rarity of the coin before adding it to one's collection.