The essence of our hobby - a notable quotation

This comment by Clifford Mishler, quoted in the 55th anniversary issue of Numismatic News, is absolutely the finest commentary on our hobby I have ever seen:

 

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All that I can say is:
:thumb:

Have fun and the rewards will follow, even if the rewards are only knowledge.
Ya can't beat that.

 

i'm a numismatist first, a coin collector second. i do not collect coins as an ivestment, if they should be worth something down the road, bonus!

-steve

 

Excellent quote, thanks for posting it.

 

Excellent quote Hontanai and words to live by as well.

 

I like it! :thumb:

 

One of the very nice attributes of numismatics is that it does not take a large outlay to get started. And it's possible to have a fulfilling hobby without going beyond "pocket change"-- perhaps literally.

Nice quote! Thanks for sharing.

 

EXACTLY as i have always thought, and collected! :thumb:

 

Oddly enough this is true of most hobbies. For example I colllect numerous items and all have proved to be very fantastic as a hobby and after some time have become monitarily profitable. This is true with cars, guns, knives, etc. Of course stamps don't fit in any more.

 

Although I think I know what Mr. Mishler means, I have mixed feelings about it. When a respected representative of the numismatic community tells me not to worry about the money, I sort of feel like the guy whose barber just told him he needs a haircut. You have to wonder about the motives.

My guess is that there are just as many collectors who do the mental math comparing what they pay for what they get as there are collectors who will buy a coin at whatever the going price is just because they really want to own it. I'm not convinced that one way is better than the other.

Personally, I'm the sort of collector who gets more enjoyment out of finding a 1901s Morgan dollar in EF condition in an antique shop for $15 than I would buying the same coin MS63 at full greysheet price.

 

it would be nice to find a gem, but i can tell you those days are past for the majority of collectors. the internet has changed the money side of many hobbies, not just coins.

don't fret though, there are plenty of deals to be had in the hobby. today i bought coins well below the market price. even coin dealers sell coins for seemingly unreal prices. i have no idea why a dealer would sell a coin for 1/3 it's market price - i guess they aren't up on that coin so i benefit. this is a hobby of knowing your stuff - the more you know, the better you'll come out.

-steve

 

Hello,

Maybe because what you call market price = book estimation, is 300% over real market price.

Cucumbor

 

i'm not talking about US Morgan Dollars

-steve

 

I love the quote, I think it is solid advice from a knowledgable man.

You know, whenever we discuss coins, almost inevitably it comes down to value. "How much is this coin worth?" is often how we are even approached about a coin.

Truth is, that I rarely think of my coins in terms of value except in trying to not overpay for them initially. If you ask me the value of a coin in my collection, I would probably not know. This is mostly due to the mere fact that in order to determine what something is worth, it must have an offer to purchase it from someone and my coins simply are not for sale at any price. My heirs can worry about value, because that is the next offer that these coins will likely see.

 

I also agree - great quote. The only time I care about value is when I buy the coin as I to do not want to over-pay (too much anyways). It would be great if they appreciate but at the end of the day it really does not matter to me as I bought them because I enjoy the nature of what they are and where they have come from.

 

Great Quote from a wise man....my saying is "Quality over Quantity"

RickieB

 

Nice quote for a great hobby.
Bruce

 

Wow, I love those quotes. One of my favorites is the one in Speedy's sig:

Coin collecting is the only hobby in the world in which you can spend all the money in the world, and still have some left over" All very good quotes. :thumb:

Phoenix