Liquidating my collection

Discussion in 'Coin Chat' started by CoinBlazer, Nov 7, 2018.

  1. Spark1951

    Spark1951 Accomplishment, not Activity

    Truth be told, I have a similar problem. I've currently got a collection that comprises early finds of all denominations U.S., foreign and exonumia. The last 7 years has had me organizing to identify what I have, but duplicates are my biggest concern. For example, I had been saving the best bicentennial quarters and had about 30 up to 3 months ago. I went through them and found that about a third of them were too worn and returned them to the wild.

    Like you, I am learning to focus. And, thanks to CT, I have learned a ton about what I thought was collectible turns out to be spenders.

    Good luck in whatever you decide, just remember to enjoy yourself and you can't go wrong...Spark
     
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  3. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    Indeed and is a biggie that many fail to realize until too late.

    Sadly, CB's situation was predictable and is a mistake countless collectors have made. Still, he's a smart kid willing to openly admit he's made said mistakes and strongly suggests he'll be the better for them in the long run.

    As for not knowing what to collect, perhaps he should ask himself why he feels the need to collect at all? Just because someone has an interest in coins this doesn't mean they have to personally own or collect them....
     
    PlanoSteve likes this.
  4. GDJMSP

    GDJMSP Numismatist Moderator

    As long as he doesn't answer that - he won't. And you didn't because I'm assuming, and I think rightly so, that you said that just to get him to think about it.

    And Blazer, I was never really a set collector either, though there were some few times where I did complete a set or two over the years. But for the most part I bought coins that I liked - for whatever reason. As long as I liked them that was enough, even if there was only 1 like it in my collection. And if I didn't like it I wouldn't buy it no matter how good of a deal it was or even when I wanted or needed one like that. Even then I would wait until one that I did like came up.

    Bottom line, as other have said, there is no right or wrong way to go about collecting coins. But if you wish to focus on one particular thing, one particular set, then by all means do so. Just realize that eventually you're going to complete it. And then you'll be doing it all over again.

    In a way I kind of did something like that too. I collected US coins for about 40 years. Then one day I up and sold them all and started collecting world coins. Then one day I up and sold all of them too, and quit collecting coins completely because I finally realized it was the study of coins that I really loved - not the collecting of them.

    Like I said, there's no right or wrong, just do it however you see fit to do it. Even that means keeping what you already have, and focusing on just 1 thing for the foreseeable future. Who knows, maybe doing that will satisfy your need.
     
    Taurus57 likes this.
  5. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    I have 4 or 5 personally known collectors that are buying what they wish
     
  6. Ana Silverbell

    Ana Silverbell Well-Known Member

    Keep one of the "stupidly purchased random amateurish impulsive overpriced buys..." and use it as a reminder to keep you on the straight and narrow, and for good humor. I have one. It's a Franciscan baptismal font that appeared to have a silver decorative basin on a wood-carved backing to hang on the wall. I prepared a 2 foot by one foot place on my wall to hang it. When the three-inch tall, cheaply made item arrived, I decided to use it as a reminder not to make foolish purchases on eBay.
     
  7. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    Thats a good point
     
  8. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    Honestly I think this is a impulsive misguided response to your earlier impulsive purchasing decisions. Once you figure out what you want to collect, it may turn out that you already had some of what you actually do want and then you'll wish you hadn't sold them.

    Hold them until you figure things out and then you'll be able to sell them for even more money than now due to inflation :) jk
     
  9. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    Sometimes, one of everything *is* the focus. These are type sets, and can be a fascinating journey. Type sets are flexible - you might go with a predefined set like the Dansco 7070 album, or you might choose what you want in your type set. This is a great compromise of "focus" and "getting everything."

    The bigger challenge, however, is to be patient and only buy attractive, original, eye appealing coins. If you have an eclectic hodgepodge, that can be a cool set - unless its a bunch of cleaned and ugly coins. If you have a focused, defined set of unattractive coins, is that really any different? Focus on quality, and the rest will fall into place.
     
    ldhair, Oldhoopster and spirityoda like this.
  10. spirityoda

    spirityoda Coin Junky

    very good point over looked. quality is also a very good point. I learned great eye appeal down the road will serve you well too.
     
    Oldhoopster likes this.
  11. Taurus57

    Taurus57 Active Member

    This is where I'm at with the Numismatic hobby. I get more excited about a book on the subject that I haven't read before than I do ownership of coins or bills. It also pleases me when I'm able to convey a bit of knowledge to those that have a budding interest. I think it helps to keep in mind that's it's all a learning experience. And remember you never have to limit or focus on specific knowledge. You can if you wish to but why limit the learning horizon?
     
  12. medoraman

    medoraman Supporter! Supporter

    I love knowledge too, but I find having a coin from a particular culture or ruler gets me more engaged with the history. So yeah, my collection might look ecclectic, but that is not a drachm of Sa'baa, but the reason I know so much about the historical Queen of Sheba and her culture. Etc etc.
     
  13. John Johnson

    John Johnson Well-Known Member

    I half way agree with that. I like putting together sets. I'm actually working on several simultaneously right now; peace dollars, a 7070 type set, mercury dimes, and lincoln wheat cents.

    Dealers break up sets to sell the individual coins because they make more money that way. But I don't pursue sets to sell to a dealer. I pursue sets because it provides a challenge for me that I find much more fun than just picking up random coins (although I do a lot of that, too).

    So I agree the pursuit is what makes collecting sets more interesting, but for me that's a reason to do it; not a reason to not do it.
     
    LakeEffect and spenser like this.
  14. Oldhoopster

    Oldhoopster Member of the ANA since 1982

    Sounds very similar to me. The problem I have staying focused is when I see a coin/token from a period of history or event that I know little or nothing about, I end up buying it and doing the research. While the coins aren't necessarily valuable, I consider the knowledge I gained to be priceless.
     
  15. spenser

    spenser Active Member

    I respect the fact that some of you find collecting and building sets boring and overrated. I, however, do not. I've found complete satisfaction completing my Lincoln, 1909-2018 set with most of the varieties and all the keys. I'm proud of it. The cherrypicking never ends. I hope that when I'm gone, the next owner will keep it together and continue improving it. Just because all of the holes are filled does not mean that there is no room for improvement.
     
  16. TONYBRONX

    TONYBRONX Well-Known Member

    Enjoy your collection for what it is, there no tight or wrong about collecting, appreciate the history and the works of art of the coins that you are a caretaker for right now. Don't be discourage.
     
  17. COCollector

    COCollector Well-Known Member

  18. tibor

    tibor Supporter! Supporter

    This!!! Start collecting coins that you like. Replace
    some as your interests evolve. Have fun.
     
  19. coin_nut

    coin_nut Well-Known Member

    I am not sure if I really have a "focus" in my collecting. I am working on a full set of VOC duits (and dumps and bonks), also Aachen XII Heller, Edward VII GB, George V GB, Any and all British coins and British Empire, Netherlands silver of all sorts, and many others. World coins, I love. Want more from all countries. I like medals and tokens too. Ancients = yes! I probably pay too much and I don't really care. I am having fun! I also think the fun is in the hunt, not the completion of a set.
     
  20. TheMont

    TheMont Well-Known Member

    I enjoy putting sets together. Some sets, Morgan Dollars, I'll never complete, but other sets, Liberty Walking Halves, Franklin Halves, and others, I have completed. I enjoy the hunt, because you never know where you'll find that one coin you need. I'm a big baseball fan, my dad used to take me to Yankee Stadium on a regular basis. When the mint came out in 2014 with the Hall of Fame coins, I knew I had to collect them. I went with PCGS because they had the actual player signatures while NGC went with facsimiles. Well I stopped by a pawn shop that sometimes has good buys on coins, they tend to be underpriced, but I don't mind, I figure they pay people by gold or silver weight and don't consider rarity. Well, I found the coin I've been searching for for the last four years. I needed the signed Hank Aaron coin, but it was around $600 on eBay. I got it for less than a hundred in the pawn shop.
     
    John Johnson likes this.
  21. baseball21

    baseball21 Well-Known Member

    Collect what you like, don't worry what others think unless youre buying high end coins
     
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