Should be required reading

Log in or Sign up to hide this ad.

Good articles, especially if you wish to collect classic US coins.

However, a couple of points. One, I believe he downplays collector choice. He says "of course a collector can choose as he likes", but yet still insist there is an absolutely right way to collect, (which means by definition there are "wrong" ways to collect). I simply believe its my hobby, no one has a right to dictate HOW I collect.

Also, isn't he pretty full of himself?

"Indeed, I am the only person who has closely examined thousands of rarities in all series of classic U.S. coins (usually with a magnifying glass), has extensively reviewed dozens of major coin auctions for leading publications (including epic sales), has learned about the physical characteristics of coins from foremost experts like David Akers and John Albanese (among others), AND has researched the history of coin collecting in the U.S."

Hmm. I am sure there are quite a number of distinquished numismatists who might take offense at such an assertion, such as David Bowers just to start. Not to say Mr. Bowers has necessarily learned from Mr Akers and Albanese, (more like Mr Akers and Albanese would have been privileged to learn from Mr. Bowers).

 

Well, yeah, and he states that "The people who say that all preferences are just matters of opinion are wrong"

His whole point is to build a meaningful collection "as judged by other" so of course there is a right way and a wrong way.

If the article was focused on building a collection "for personal enjoyment only" I would think it would be slanted more towards your way of thinking. So I
kind of view it like this. There is no right or wrong way to collect, but if you are interested in building a collection that is to be judged meaninful by members of the numismatic community, there certailnly is a right way to do it and this article outlines the steps.

 

I understand the differences between higher and lower quality coins, cleaned versus uncleaned, etc etc. I have no problem with the articles as they educate collectors about dipping, cleaning, how this affects value, etc. Education is always very welcomed and I agree with Doug that these articles should be read. They seem to be well written advice.

I guess I am simply objecting to the elitism that I view as dripping off the virtual page. I read it that unless he personally approves of your purchases, then you are simply wasting your and his time. Just like I dislike HSN and dealers pimping overpriced modern "rarities" with First Strike or a "special slab", I also dislike elitism in this hobby that views any coin not worth well into mulitiple hundreds of dollars as petty garbage. I have seen token presentations put together by YN's that maybe the most expensive piece was worth $5 be much more educational and informative than a $200,000 morgan dollar collection. Just because someone does not have the budget for tens of thousands of dollars worth of coins does not make his/her collection not "meaningful" to me.

Maybe I am just taking it the wrong way. I am sure Doug will set me straight.

 

Yeah, I hear what you are saying, and his version of cheap coins may very well be different than mine or yours, but I am just not reading it as coins need to be expensive to be meaninful. It seems more like a thought process to me. If a YN or anybody is just hoarding all the wheat cents he can find or buy on EBAY and throws them in a bucket, more power to him and I find no fault, but to call that collection meaniful, is a real stretch. If that same person carefully goes through those cents, finds and catalogues the different dies varieties, errors, striking problems, etc. then the collection becomes meaniful.

 

So putting together a set of Walking Liberty Halves is not meaningful (doesn't meet the pre34 cutoff date for much of the set). A coin that was in my Grandfathers pocket until he was in his late 40's. A coin my dad carried around in his pocket until his teens and a coin that I now collect is meaningful to me even if this person does not feel it is. Very worn WLH's were handed down to me. Those will be handed down to others along with an upgrade to AU for most.

 

He's definitely more than a little full of himself , but does offer some sound advice . Still this is a hobby to have fun with and the collector should choose . The truth is that a lot of collectors start to gravitate to classic coins as they get more experience , so most of his advice is sound . But so is a collector of Modern commemorative s and silver eagles , beauty is in the eye of the beholder . Then there is the error collector , is his collection meaningless because it has no classic coins , I don't think so .

 

In his need to establish himself as a qualified expert, he had to "blow his own horn" to get it done. I can see where that would be unfavorable to some people. But he is talking about a level of collecting that I don't indulge in. Those type of coins are not within my means or interest. They are more of a curiosity to me. They can be admired, but I have no desire to sink great sums of money into obtaining them. Even if affordable with my current funds, I would choose to invest in a better financial instrument. It is a good read, but only meant for a very limited following. His other linked articles are a better fit for me.

 

We've many more 'blue collar' collectors on this forum than certain others so I can understand the consternation of the 'locals' here. We tend to not be looked down upon in our individual collective endeavors here. Rather, we bristle and brandish when set upon. That said, I believe Greg Reynolds was giving an opinion on collecting and as such opinions go, it is worthy. It may not fit all of our collecting parameters but it is something to put out there, and frankly, he's made me consider his point of view. Now mind ye all, I'm not buying into everything that he says (writes) but he does set forth some valid points.

"Before embarking upon a collecting endeavor, it is important to have an objective, a goal. Buying coins randomly or in a whimsical fashion is not sensible".

I totally agree with this point. Many of us (me too) have had absolutely no plan when it comes to collecting. At one stage or another we've gone and purchased coins willy nilly with no regard to where they will fit into our collections down the road. Many times we end up selling these purchases to fund our true endeavors. I think in some ways Greg might be trying to protect us from 'ourselves' by lending his advice. Focus on what is the true area of what it is we want to collect. Trouble is, many times we don't have that 'hard hearted eye' when it comes to collecting. We lack the focus because we don't quite understand where it is we are headed for with our collecting endeavor. We don't see our collections as an investment or something to profit from. Rather, we seek the enjoyment and satisfaction of assembling something that gratifies at the moment. If it costs me more to get at a certain level of collecting then so be it. I've enjoyed my dalliances and dandy dancing with fanciful whimsy's. I regret none of them...........

 

Yawn.

 

If your collection is meaningful to you, thats all that really matters. If you collect to aquire some superficial meaning from strangers, then you may wish to seek professional help outside the numismatic arena.

 

I'm reading it and appreciate the information content. But Mr Reynolds does seem to labor under a severe anxiety that somebody, somewhere, may be having fun with the "wrong" coins.

 

Unlike most people who write articles like this, the author actually made a genuine attempt to establish his numismatic credentials and give the reader a reason to take him seriously. However, I think he could have accomplished it in a much less verbose fashion.

It is not coincidence that his last criteria for a great collection in Part 1 about originality and Part 2 of his article was about dipping of coins. So basically Part 1 was about what coins to collect, and Part 2 was to emphasize that the collection should consist of toned coins with original skins, rather than the dipped material that both the TPG's and dealers are happy to accept. FWIW, I agree with the author that the originality that toning provides is paramount when assembling a great collection.

That said, I don't know of very many members of this forum who are attempting to assemble what the author of that article would consider "a meaningful collection". The only person I can think of who would qualify would be Traz.

 

Good reading - all of it. I think in the original post you should have included some of the other links first.