What Would You Do? A while back I sold off two of my raw sets, Lincoln Wheaties and Buffalo Nickels. I'm not doing raw coins anymore and most of my interest is in the 1700's and 1800's. BUT I have 4 slabbed key/semi-key Lincolns. And one key Buff. Plus I never really had a Mercury set but I do have 3 slabbed keys. Based on the greysheet the 8 coins have about $6500 value. I'm caught between holding on to them or turning them into cash for other coins I'd prefer to have. General philosophy says keep them because they will be the coins that increase in value the most. BUT The coins I'd prefer to have are pricey and I could use the money to help get some of them. What would you most likely do? And Why?
I'm a big fan of holding on to key dates when they are really attractive coins. Not so much if they are average looking. I would probably sell off anything that was not really pretty and use that money for something that was.
I think the best thing might be to hedge your bets and determine which ones will likely increase in value the most and sell the one(s) that are least likely to increase in value. Obviously no one has a crystal ball to see which that would be, but you should be able to see which series the prices have held the most in. And start looking at what the future of each series is. My thought is that Mercury dimes seem to have great appeal, as do the Lincoln cents, so perhaps (I know I will be bashed by Buffalo Nickel collectors) you could just finance some of the coins on selling that series. The other thought would be to see if you feel that any of the coins you might be willing to sell might bump up a grade and start attempting to get it graded higher. Or CAC those babies. That, if the coin is right, might be enough to do and sell so you have more money out of it. Just my thoughts, I don't know how you feel about the three series.
Liquidate. I say this with such firmness because I "know" you from long interaction online, and there's no doubt in my mind whatever you replace them with will be of equal long-term numismatic quality while being more pleasing to yourself.
Sounds like yer trollin' for buyers... Figure out what they're worth to you and put them up for sale. Nothing says you have to sell until you get an offer you like. You can always change your mind!
If you have lost interest in them, sell them and plow the cash into coins that do interest you. And as Brett suggested, you're in the driver's seat as far as selling them. Seems to me you know what you're doing.
sounds like your not happy with those key dates. you have to ask yourself...will I regret selling these ? if the answer is yes do not sell them. ask yourself am I ready to move on to coins that I would much more prefer collecting ? if you answer yes... sell a few, but keep ones that are near to your heart. I have recently had this dilemma. I never regretted selling some coins that just did not do it for me anymore. sure there were 2 gold coins way back ago I sold only because of falling on hard times. that I regretted, but could always get those coins back because they were common. key dates are readily available in most series. now rarer coins just might be the ticket you are looking for. I know that feeling. when I bought my avatar coin I was on top of the world. when I buy coins now it's all about eye appeal. there's always gonna be another coin to buy. keep the ones that make you the most happy sell/trade the ones that don't make you happy. remember to keep it fun.
Agree. You have to decide how much they mean to you. Saturday I traded a nice XF 1877 Cent for some other coins. I enjoyed having it for a while. Would have been a great coin to hold on to long term but really I am more interested in other things, and most of us have to live within certain financial constraints...and I got some other items I am more enthused about..... OTOH, I have sold coins I wish I hadn't.
Why trade key dates for different key dates? Hang on to them. Save you money, then by the key dates that you're now interested in. Go with your "General philosophy".
I would sell the 8 coins and use the proceeds to buy what you really want to collect. Think of it this way, you get to own more of what you want plus you get to help someone else get what they really want to collect as well.
I asked this question to get feelings/opinions that I hadn't considered from both sides. I'll put the responses in two "piles", sell and save, combine them with my current feelings and hopefully come up with a concrete action. My target coins for buying at the moment are: 1/2c LIBERTY CAP, HEAD LEFT 1793 (around Fine) 1c FLOWING HAIR, CHAIN 1793 (around Very Good) This is why my question isn't a trivial exercise. I've got the Spring Whitman Show coming up in about a month. Or if that's too soon, the Summer Whitman Show coming up in June(?).
I would check the guides to see if those keys are moving, if stagnant, or on the upswing I would sell at a big show, if they have been dropping for a while I would wait until they start moving up again.
I say sell, here's why..... you have owned them and enjoyed them. I'm sure when you purchased them they made you happy, and added to your collection . However now your collection has changed direction. Yeah are there coins I've owned and sold and wish I still had in my collection .....well yes. But no matter what we as collectors can not take the coins with us! As much as we may like to .....I rather say or know I had a three legged buffalo nickel then no I never had the pleasure of owning one. The same with an 1909 S VDB, or a 1916 D Dime,etc etc..... I have purchased ,traded ,and sold many a coin. Did I make money yea...have I lost money heck yea,have I broke even yes again. My advice is life is short , enjoy as much as you can.... and using coins that you no longer have an interest is is a great way to leverage your next move. If you no longer truly appreciate them let the next collector enjoy them...... insert the Lion king's Circle of life song here! LOL no really think about it ,you just recycled a coin from your collection to another..... and given that coin a new life a new story .
I'd do what Superdave suggested. The coins you hold offer no joy, so why retain them? Cut 'em loose and purchase your whimsys......
Age is really messing with my memory. Forget that I had another key LWC; it's another $1000+ coin. And I have a duplicate coin that I bought by mistake that's in the 4-figure area. But there is no concern about selling it since it IS a duplicate. I've pretty much decided to sell them all assuming I get reasonable offers. And I'll do it at the Whitman show. Plus I know who I'll go to first to see if I can get one my two wantlist coins. Thanks for all the input.
