It's not all about finding a rare error and getting rich

Discussion in 'Coin Chat' started by TheNickelGuy, Jan 23, 2024.

  1. TheNickelGuy

    TheNickelGuy Well-Known Member

    I see so many new people get into coins and miss the point entirely. They see some Utoob videos or posts about legitimate varieties or errors and off to the races they go.

    There could be thousands in your pocket change!

    Not that there is anything wrong with collecting errors or varieties, but unless people gain the necessary knowledge on how coins are made for themselves in the first place, they will wander around in the dark asking a million questions about

    What kind of error is this?

    When all they have is a common coin that lay on the parking lot, was played with idle hands or looks just plain funny in color.

    Soon after trying the patience of the collectors with new thread after thread about post mint damaged coins or worn out dies and wishing hard enough for that big find, they lose interest all together.
    Unfortunately, they miss the point and the fun and excitement of collecting.

    I no longer respond to threads from hunters that have not taken the time to learn for themselves. Haven't for a long time and I rarely even read them, sorry.

    There's a lot to be said for learning about the mint process and exactly how a clip, a cud, an off center, a double struck, or a REAL doubled die is created in the first place.

    I have collected coins for over 50 years and it was most beneficial for me to assemble simple sets or pull the very best examples I could find of normal coins first when going through change.
    I learned what made one coin
    unusually better than the next, whether it was condition or a less often seen date or mint mark on a coin.

    I joined a coin club back in those days. We didn't have internet, just books or magazines.
    Once in a while I 'd find a coin that looked odd.
    I too thought I might have something good here but when I was told by a fellow what I really had, I learned what it was I really had and why.

    Eventually, I began to understand what could and couldn't happen at the mint and how errors and varieties happen.

    Just saying, learn the minting process first and the hunt will be a lot more rewarding and fun.
    I am not really much of an error/variety collector myself except for when I find a new example that I can add to my Jefferson nickel set.

    1943PJeffersonNickelClamshellLaninationSplitEast.JPG

     
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  3. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I too have been collecting fifty years or better. My interest always has been and always will be holding real history in my hands. A coin in my hands tells me a story no differently than a book would.... I too pass by many of the questions that reek of a "get rich quick" theme. However I will respond to an ill informed question if it appears the person posting has an interest in the hobby..... Heck, I gotta help breed a new generation. Somebody has to buy all this accumulation I got one day!
     
  4. Lehigh96

    Lehigh96 Toning Enthusiast

    I hear ya, but the people you are talking about aren't really coin collectors, rather, they are treasure hunters. And since I am a collector who also likes to hunt, I'm much happier with the masses of treasure hunters being uneducated lemmings. Less competition for me.
     
  5. ZoidMeister

    ZoidMeister Hamlet Squire of Tomfoolery . . . . .

    Heck, it gives you a GREAT mass market for your dreck . . . . . ! If they're sellin', they should also be buyin'.

    Z
     
  6. PlanoSteve

    PlanoSteve Well-Known Member

    Thanks for the idea Randy...I'm changing my designation from "collection" to "accumulation"...a much more accurate description! :):singing:;)
     
  7. J.T. Parker

    J.T. Parker Well-Known Member

    Beauty & value are not mutually exclusive. I collect for both. That's why my entire collection is contained into 3 3-ringed zippered binders. Each coin collector has his/her own collection preference & IMO one is neither better or worse from the other.
    Just enjoy the path you choose,
    J.T.
     
    lardan likes this.
  8. ZoidMeister

    ZoidMeister Hamlet Squire of Tomfoolery . . . . .

    Yeah, I know what I got . . . . . . $$$$$$$$

    Z


    for labels.jpg
     
  9. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I made the mistake not long ago of inferring to my wife that she was a shoe hoarder..... Dumbest words that ever came out of my mouth..... Now every envelope I get from the mailbox I gotta hear it..... Oh, is that MOORRREEE coins????
     
    Jeffjay, PlanoSteve, JPD3 and 4 others like this.
  10. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    I have recently joined a couple of Facebook pages on coins, errors and varieties. WHAT A MESS.. everyone is an "expert" and the majority do not know what they are talking about! Everytime I make a comment I get attacked by angry little girls who get their feelings hurt when I tell them the truth!!!

    One guy posted that Off Center Nickels are valued at $700.00 - $900.00 :hilarious:
     
  11. Collecting Nut

    Collecting Nut Borderline Hoarder

    @TheNickelGuy and @Randy Abercrombie I have been collecting for over 60 years, ever since I knew what coins were. My first folder was a Whitman’s Lincoln Cent which started in 1941. I could find those cents in circulation and boy, was it fun to plug a hole. I’ve been plugging holes in albums and folders ever since. Still doing that.

    Now that I’m older and more experienced I collect errors, paper money, CSA Notes and coins in slabs. It is such fun and very enjoyable. My wife lets me alone to do as I please with my coins but she has no understanding of coins and no desire to learn.

    If you notice, under my CT is what I really do, hoard. Yes I hoard coins but I prefer to call myself a coin collector as it sounds nicer. Even a boarder line hoarder doesn’t sound too bad. I still buy and add to my hoard, er collection, but I’m like a kid when it comes to collecting coins. Lol
     
  12. ZoidMeister

    ZoidMeister Hamlet Squire of Tomfoolery . . . . .


    You've got to find the right groups. Look for those that are not public to non-members. I'll send you an invite to one or two that are definitely more "intellectual."

    Z
     
  13. David Betts

    David Betts Elle Mae Clampett cruising with Dad

    I can agree with Randy I ve been collecting coins since early 60"s Joe Castiglione and Red Sox on radio (no TV's) while flipping $50 worth of Wheaties for Dad and grand pa while they drank scotch my brother and I Canada dry Ginger ale and cheese it's.
    roll up non-Wheaties and same next weekend? Except for a 14-year-old driving my father home in a 1963 Mercury! Mom's mad and couldn't even see over steering wheel! Time's change! But still chase coins!
     
  14. lardan

    lardan Supporter! Supporter

    I would not have the patience to do that, mainly because they appear to make the desire to evaporate. You can lead a horse to water, but..................
     
  15. Inspector43

    Inspector43 More than 75 Years Active Collecting Supporter

    I have stopped opening posts that the treasure hunters post. Most coins posted are simply parking lot finds or chemistry class experiments. I want the new collectors to learn but all too often the coins are trash and it should be obvious. Then they are in a hurry to get as many treasures posted as they can and leave the thumbnail rather than full size. I won't open the thumbnail photos.

    I've been collecting for over 75 years and have yet to see that treasure coin in my pocket or a coin roll.
     
  16. potty dollar 1878

    potty dollar 1878 Well-Known Member

    Same thing goes for metal detecting;)hundreds of thousands of spanish artifacts are still along florida's coast.Most people think they will find hundreds of treasures buried on the beach and make millions in a day.only to realize it's a whole different story(patience which a lot of people don't have)you'll have better luck winning a scratch off ticket.I'm pretty sure @paddyman98 know's this story all to well,not just about metal detecting at the beach.I get excited finding 100 year old shotgun shells.
     
    Inspector43 likes this.
  17. potty dollar 1878

    potty dollar 1878 Well-Known Member

    Time before the internet was so much better.Wasn't born 50 years ago but i'm sure a lot of you remember everyone waving at each other all the time e.t.c.
     
  18. PlanoSteve

    PlanoSteve Well-Known Member

    You can explain it to them, but you can't understand it for them. :smug:
     
    Jeffjay and Inspector43 like this.
  19. PlanoSteve

    PlanoSteve Well-Known Member

    I have a "purse" situation here. :smuggrin:
     
    Randy Abercrombie likes this.
  20. Jeepfreak81

    Jeepfreak81 Well-Known Member

    I too am both a collector and treasure hunter I suppose. I've never hunted to get rich quick, I've always been smarter than that. I know it's a rare thing to find that elusive item that's worth thousands and I don't expect to ever find one.

    When I "treasure hunt" it's not to find the missing crown jewels or some such thing, I'm just as happy digging up some rusty square nails from an old barn. It's the history of it that's fun for me. Finding coins I can dump in the coinstar is a bonus though.
     
  21. TheNickelGuy

    TheNickelGuy Well-Known Member

    I'd like to thank everyone that read my post up top. I never got so many like's before and I was a bit worried that I might rock the boat posting such a topic.
    Well, it seems it was well received and I am glad.

    I just hope some of our get rich quick people read it and gain the real treasure of collecting which is the friends we have made in the hobby, the time well spent enjoying the study and hunt and the knowledge we gain in history and art. We also learn a little about human behavior, math, science and business too.

    Thanks all. I won't post anymore, just wanted to let all I appreciated the comments and likes.
     
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