21st Century Collecting Rant

Not me, I love the Walkers just as much as I always have, remembering to this day, the moment when my grandmother put one in my 7 year-old hand in 1952. It was probably that very moment that the thought of collecting coins came into my mind.

 

Log in or Sign up to hide this ad.

I love the walkers too
They made me buy ASEs
but I still love the walkers
bought the 2016 Commem Gold Walker too.

 

I should add too .. all these new collectors with Digital Microscopes trolling and finding dates and other "mint errors" at 1000x or something. Just like a thread now active.

 

I don't really care about what a coin is worth (unless I'm buying it), but I do care about condition. Why? Because I want to see what it looked like to the person who designed it - what was their vision for the coin. At a recent flea market, I bought a '65 UK Crown in decent shape because of Churchill, a couple of Swiss 5 Rappen (one 1922, one 1971) because the design hadn't changed in 50 years (I guess the US isn't the only one that does that), a Showa 50c coin as it's different than the current one, etc. Spent 500 yen on them, and they're probably worth less. Do I care? No. I liked them, I think they're interesting and they have value for me. Ancients yes, I do buy them slabbed but that's because I'm new to this hobby and I don't want to get counterfeits if i can help it.

 

Agree with the first thought. But I still have an issue with the idea about variety collecting. I know it is an established part of the field, and with early large cents and seated dimes it's a ride of it's own. But rather than jump to the conclusion that it's all that's left, it seems like a lot of collectors could as well move on to a different series/denomination.
Especially with very early U.S. coins, doesn't sequestering dozens of the same year coin drive the price up for remaining examples available to the general collector? Many times I have passed over a purchase because the premium for an R4 example wasn't worth it to me.
I'll save some time by supplying the expected answer to that:. "Yes, but that's too bad, it's a free country (world, mostly), etc., so get over it."
Ok, sure, and a few high octane variety collectors in competition with each other are not going to kill the hobby. But any community, in this case curators of historic coinage, can be flexible enough to encourage supportive elements and discourage retarding ones.

 

While I may not technically be a new collector, I'm new to taking this beyond filling coin folders and saving a few others that I like here and there. I'm interested in learning more, learning how to grade a coin, and so on. I'm not looking to make a quick flip, but I am interested in paying a fair price and hopefully get some sort of return if I sell it in the future (even if it's a little less than I paid).

I also do a little bit of roll hunting, if I'm looking for errors, I really only pull dates aside that have known errors and then I examine them through my loupe and compare to the pictures I find online.

Now, after saying all that, I don't think that all new collectors want to put forth the effort required to really learn things. Maybe in time, they will, maybe not. I also know that as a new member to this forum, and as I'm learning things, I'm likely to post items that have been posted in the past on occasion. I may even come across something that looks odd to me, but I just can't find an example somewhere. I've been on the "expert" end of things in other forums (Jeeps for example) and know that it can be a bit irritating to get the same silly questions over and over so I try to be saavy to that fact before posting and do a little of my own detective work.

I don't think collecting is "dead" or that everyone is in it to flip coins, but I do think that the internet has brought it more mainstream and that draws attention from people who don't understand that you rarely get rich by collecting coins or finding that needle in the haystack.

 

This type of behavior has been common for well over 100 years. Read A Guide Book of Lincoln Cents by Q. David Bowers regarding the release of the 1909 Lincoln Cent. People were practically storming the San Fransisco and Philadelphia mints trying to get a few of the new coins, which many turned around and sold 3 for 5 cents to the folks at the back of the line who were not going to make it to the sales window before 2:00 pm when the mint closed.

If there were TPGs at the time, collectors and investors would have used them. There was no universally accepted grading system, however, so buyers who couldn't attend auctions had to rely on vague and inaccurate descriptions.

IMO, TPGs have done more good than harm for this hobby . . . for now. But as the OP said "collecting is different for everyone."

As for me, I'm assembling a set of MS Lincoln Cents from beginning to . . . we'll see. I have no problem buying slabbed coins below market value. Of course, I crack them out and put them in a CAPS album. I am accumulating a slab graveyard as quickly as I put my set together.

 

Excellent & agree!

 

When I started this thread, I was considering dropping an invitation like Nathan did but he beat me to it.

We are getting what I consider way too many people with Clay's idea of ancients that have been formed from his experiences with moderns.

Slabs do not protect you from counterfeits nearly as well as applying common sense will. Beginners making the move to ancients from buying slabbed 1909S VDB in MS too often think they have to buy only the finest and most rare, popular coins right at the start when they might be better off forgetting about impressing the neighbors with their bank accounts and select some coins that can be educational and interesting while not costing as much as the fee to have a 2018 cent slabbed. Most transfers from modern to ancients seem to bring over that attitude that a coin is not worth considering unless it is MS. Their prejudice caused the only worthwhile ancient slabbers (NGC) to have to label MS on coins other ancient folks call EF. I collected ancients for several decades before I ever saw a perfect coin. Then we called them FDC (fleur du coin). I have no problem with the two excellent numismatists that grade for NGC but there are a million ancients out there that need love, too, and don't cost so much that you really need to pay someone for an opinion. Selecting honest dealers will suffice.

The first line in the quote below really bothers me but that might be because it has become true and I just don't like it. I did not start collecting as an investor. I was about eight years old and thought it was neat to find Indian Head cents and very occasionally a Seated dime in my parent's change. I still have many of those coins but discovered ancients and started dumping duplicates to finance my ancient obsession a bit over 50 years ago.

longnine009 goes on to say what I can agree with completely. In fact I have no use for investors except when they give up and dump their coins to the benefit of those of us who think they are fun and are not afraid of work.

I don't know or care about moderns but in ancients you buy from dealers who specialize in ancients and who buy and disperse collections from estates not to mention coins that collectors have 'outgrown' or upgraded in their collections. You also buy/trade with other collectors when you can. Sometimes you make money on such dealings and sometimes you lose. If you are in it for the fun and education using money of the same type you spend on movies and theme park admissions, you don't measure you success by what you made on a 'deal'. Sure you can join those new converts that insist of paying $100 for a $20 coin in a $40 slab figuring there will be someone willing to buy it for $200 someday. If not and you get bored, the fun bunch will be there to buy them for the $20.

I propose a 'test' that will tell you if you might be happy with the move to ancients. If you really believe that a coin identical in most respects save an extra S under the date is 'worth' 100 times as much because the 'Red' book says so, you may not like ancients. There is a difference between price and value. When I stopped collecting moderns (roughly 1964) I was interested in a type set with full realization I would never have a Chain cent and several others. When I moved to ancients and realized a 'set' was impossible (no museum has even half of what exists) I was freed from being ashamed of not having all those holes in my folder filled. I this seems appealing, you might be happy over on the darkside with the ancient people. If you do come over, try to leave behind the 'facts' you worship in modern collecting. For example, don't tell us never to clean a coin. When a coin spent 2000 years buried in the earth, it might get a little 'dusty' and need a gentle bath. Don't tell us coins have to be MS to be worth anything. There are thousands of coins that are the best surviving example of their type that are way down there below fine. Don't tell us your coin is worth $1000 just because that is what you paid some guy for it or you saw one a bit similar that sold for that much. Ancients do not have a Redbook and the variables that need to be considered will take a while to appreciate. Most of all, don't make your first post a request for us to appraise your collection. If all you care about is what you can get, pay a dealer to handle the stuff. We don't call it the 'Darkside' for nothing. We are a friendly bunch.

 

Alright, this has been an excellent thread if for no other reason than to witness the many methods & objectives of our diverse "collection" of members. To me, this is very refreshing.

Having been a "collector" for about 60 yrs (circa 1958) when I first saw & saved an IH cent, my methods & objectives changed many times.

That IH started me thinking about the different types of coins that existed, other than wheat cents I was used to seeing. Shortly after, I discovered the Whitman books & started filling sets (previous to this I had no knowledge or contact to expose me to collecting) without regard to condition.

Then I discovered really older & historical coins, such as revolutionary, 1812, civil war era, cherishing the worn conditions & wondering whos hands they may have passed through (I am certain that I possess coins handled by Ben Franklin, civil war generals, etc. ).

I have never acquired a coin for the purpose of making money (read: reselling) but I have bought coins with the intent of "holding some value" (not for me, but for my heirs - 2 of which I am grooming.

I enjoy fondling (oh, may I use that word safely?) these circulated coins & have no remorse about leaving additional fingerprints. However, I do have specimens which are very carefully handled. I only acquired my first slabbed coin around 2005, & only for authentication purposes.

I haven't collected "sets" in a at least 30 yrs, but I do look for the finest type coins I can find/afford.

I have never sold/traded a coin - still have every one, except for ones I have given away to spark interest.

My next great venture is to delve into the ancients, which I feel is eminent.

 

Yeah. I'm like that. If i get a coin that looks like it was runover by a bus. I keep it then move on to the next needed coin.

 

I felt myself welling up. Them are the good old days. Thanks. Sniffle sniffle

 

Savory Brown too. Good choice

 

Well if that made you cry.....how about a little kiss for topo before bed?

Oh Eddie....... betcha ya didn't see that coming.....did ya ? LoL

 

Nothing like the Italian version of Micky Mouse..... a rat with a cute sexy accent!

 

Im kinda on the fence on that one. Lets do the 50 cent piece and the new nickles

 

I want a mercury nickle

 

Never hear ELP on the radio anymore. This world has gone to pot

 

I heard the first impression of Karn Evil 9 this past weekend on satellite radio. Probably my favorite Greg Lake song post ELP was his "I believe in Father Christmas" recording with Ian Anderson.
https://www.google.com/url?sa=t&sou...AlsQtwIIbjAM&usg=AOvVaw0ryv8vRfOGmDI454RtStBA

 

Pure gold...