Are you all Investers. Is anyone a collector on here?

Ed, I would consider myself a collector. I have never sold a coin. This does not mean that I do NOT try to get the best deal possible. My collecting budget, in theory, is at a fixed level, and hunting around for good deals allows this budget to be stretched into additional material. Also, if a coin has a nasty scratch on the portrait, I won't buy it, not due to the difficulty of 'flipping' it, but for the same reason that I wouldn't buy a painting with a hole poked in it.

I don't know if anyone will ever make money off my collection. I am trying to teach my daughter a bit about coins, hopefully someday she will appreciate them enough that my collection will not merely be viewed as a cash cow. At any rate coins have done for me everything I would want from them; appreciation of art, motive to research history, and a counterbalance to stresses elsewhere in life.

 

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Hi Ed,

I too consider myself purely a collector, but that being said, I do consider cost when I purchase my coins. I try to get the best value possible. Not so much from the investment stand point, but because I have a limited amount of $$$ to go into my collection. I also fully expect to pass my collection on to my wife (who has no interest whatsoever), or my children. And I would like them to keep what I have collected and if not, to at least get a certain return from it.

An example of my collecting are my Silver Eagles. Absolutely love these coins and my order of 11/12/06 for the 2006-W was cancelled a couple of weeks ago by the mint. With the low mintage, I am going to assume that this coin will increase in value so I went out and paid way more than the mint's price to add it to my collection. Investment? Sure, but I wanted this coin for my collection and paid what I felt I needed to and added it. I can't see the future but my guess is that what I paid now for this coin is probably less than I would pay a couple of years down the road. But, I've been wrong before!

I do agree whole-heartedly with you that there are alot of investment type threads out there. But there are far more collection threads. There are two sites that I visit daily and this is one of them. The information here is beyond value.

 

I started collecting Very early, I was about 4 yrs old. It took me about 10 years to fill a 1941 to 1958 Lincoln cent book, it is held together by tape. i would never sell it. I used to get 60 cents or so and go buy a roll of pennies and check rolls till I found 10 wheats, sometimes it took a week . It took me so long to find a 1941-D, that i keep all of them I find. I have sold coins, but only when finances made it necessary. At times, my collection is all the money I had. I don't really have any interest in most modern coins, but i will buy some occasionally for investment, but that isn't really considered part of my 'real' collection to me.

 

I'm probably 2/3 investor and 1/3 collector. I really like coins, but the intrinsic value of the gold and silver content as an inflation hedge is very important to me; and it is also one of the historical functions of coinage. I don't suffer from the "perfect coin syndrome." With my investor hat on, I like to acquire just about any silver or gold coin that can be obtained at a bargain price, and having duplicates and triplicates of the same coin doesn't bother me at all. With my collector hat on, I'm just as happy with an EF example of a coin I want to own as I would be with an MS example.

 

both ways

I admit I hate the thought of losing money on coin sales, but for my own collection I care more about getting a decent piece and small flaws don't bother me that much. I plan on keeping them for a while. Moderns on the other hand I buy with the intention on selling, so I buy new and hope for the best.
I would say a lot of peoples worries about cleaning and misshandeling are just about conserving the history for future collectors. I know that some people are only concerned about$$$$$$$$$, but collectors at heart probably don't practice what they preach and collect what they need or want and buy what catches thier eyes. Albiet with enough research to get the most value for the buck.

 

I am definitely a collector. Probably have OCD even. But...eventually I tire of a particular coin, stamp, watch, etc. and decide to sell it to fund whatever my current addiction is. No one wants to sell at a fraction of what they paid. whether it was 5 days, 5 months, 5 years ago (or more). So, you do have to pay a little attention to costs, condition, rarity, TPG, etc. I am not an investor, but i hope my coins go up just in case.

 

Exactly, I always say, Forums are like Buffets...

Take what you want, pass on the rest...

Like Buffets, Alot of it is Great, but not all... To much and you can get a belly ache...

 

Ed,

Great post, nothing like poking a stick in the cage!!

Part of the essence of collecting for me is the value of the coins, which ties into how hard it is to acquire, to complete a set or to get a tough date.

Key date US coins are definitely an investment, so I do have a few of those. I think everyone should have at least one key date coin.

 

Hi Ed! Here is what my obvservation has been on here the while I have been here. What I have seen on here is, yeah, there are a few people here that only do it for the money, but I would say more than 98% on here are full collectors easy. The only time I have traded was when I traded four 1953 silver quarters for a BU 1942 and a BU 1944 quarters. But other than that, I solely collect. Some of my collection is investment, like some silver Walkers, but even them I collect because I like them. Nothing in my collection is something that I don't like, just there for investment. I like every piece in my collection. I also like said earlier will try to get the best example possible that I can. Interesting though reading the diff. posts here. And I hope I helped answer your question on how many of us are collectors. Take care.

Phoenix

 

I don't think the "coin trading" many of you talk about is considered bad or makes you an investor in any way.

Trading coins is ESSENTIAL to coin collecting.... (think if nobody traded, none of us would have anything we have!)

I just wanted to make it clear there is a HUGE DIFFERENCE between trading and profiteering in coins!

- Jake

 

What's wrong with wanting coins in the best condition possible? That is part of collecting too.

 

Nothing at all of course. However my desire for high condition is for sake of eye appeal rather than current and potential value. Both collectors and investors want high condition coins, but for different reasons.

 

Why are you all explaining yourselves? Does it really matter if your an investor, mint, proof or any old coin collector? I grab what I think looks cool or old, then I stick it away. I don't see anything wrong with the comments on this board about coin problems. Someone may think the old dirty coin they have in their hand is worth 2000.00 when that is actually a proof or mint price. I think all you guys are great for helping those of us that are coin newbies. I don't understand half of what your talking about, but it's all kewl to me.
I would also like to add, that not once did I see a post where someone tried to sucker a persons 'rare' coin from them. Would be easy enough for the die-hard coin collectors to do to the newbies. Instead the comments are 'nice coin' , 'great find' etc.
Help is all I see in this forum, and if that scratch on my coin brings the price from 500.00 to 2.00, I'd like to know about it.

Well that's my 2 cents worth

 

very well said... :thumb:

 

You wont find any of us in here thats going to take advantage of a new collector in any way. We're all here to help and encourage. We're all still learning new things in this hobby whether we've just started collecting or if we've been collecting for 50+ years, there's always something new to learn. Most of us in here are certainly true collectors in every sense of the word. Collecting and reading extensively about coins is what we do.

P.S.- BTW, you wouldnt happen to have any of those common 1877 Indian Cents lying around you'd like to sell cheap....do you? lol....J/K!!!

 

lol....naaa.. The most common coin I have is my 1888 Victoria large cent..lol

 

oh contrair!

I knowingly collect crap. I even search ebay for "damaged,corroded,holed,junk,gouged,scratched,worn,regurgitated"
For my whitman folders, I don't care what condition they're in as long as I can see a date. (and sometimes not, i can identify some dates by type).

Just my damaged 2 cents.

 

Well put Twiggs. I think I was one of them, and basically I just said some of the stuff I said to make a point. Don't ask me what point now lol... But I see what you are saying. Take care.

Phoenix

 

I like that answer hamman, you are certainly a true collector.

 

LOL! I definetly would hold a coin with gloves though after that, lol. Good answer lol.

Pheonix