What is your thoughts on the weird way I collect coins? Go ahead, I'm thick skinned. LOL

Discussion in 'Coin Chat' started by GUNNER63736, Feb 19, 2019.

  1. GUNNER63736

    GUNNER63736 Well-Known Member

    I love collecting silver US coins. Being on a limited income with social security, I tend to buy coins less than $25.00. I do avoid ugly coins. I don't worry about filling sets and yes, I do sometimes buy duplicates of coins I already have if I feel the price is right. I lean toward 90% silver half dollars and silver dollars and maybe quarters and dimes now and then. No rhyme nor reason to my collection. Here is my old man question. Lets say I purchase a silver half with melt value of 5.75, about what it is now, for 8.00 including shipping. I justify the price by subtracting the shipping which most everyone charges anyway. So, in my feeble old mind, I actually paid around 7.25 for it. I would then be paying 1.50 over spot for the coin. Isn't the coin worth the difference over spot as compared to a piece of junk silver of the same weight. Doesn't it make any difference because it has intrinsic value as a coin instead of a piece of junk silver. I don't figure in the fun factor I get from my coins. This may be hard to understand what I am trying to say and if it does, SORRY. I do ramble sometimes, so the wifey says. I also buy the PCGS PRF69DCAM Kennedy silver halves also. They carry quite a premium but I just plain old like the bling.
     

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  3. Oldhoopster

    Oldhoopster Member of the ANA since 1982

    You should collect the way that makes you happy. Nobody should tell you otherwise. Now, if you are doing something that’s a little eclectic, or have some unusual theories and try to convince people that your way is better than the mainstream (such as cleaning, values, manufacturing method, etc), you may get some interesting feedback, but other than that, do what you want.
     
    Last edited: Feb 19, 2019
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  4. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Yes, you should collect any way that you want. :) However, I also think you should leave an "open letter" to your heirs explaining that the value of many of the coins in your collection :greedy: may only be "melt value" with little or no appreciation attached to a numismatic premium. :meh: We don't want any of your heirs to get the idea that they have hit the mother lode :greedy: and start arguing with us :rage: just because we had to be the "bad guy" o_O to burst their bubble. :(

    Chris :writer:
     
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  5. Santinidollar

    Santinidollar Supporter! Supporter

    Collect the way you want on whatever budget gives you comfort. If you enjoy it, then you are a successful collector.
     
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  6. -jeffB

    -jeffB Greshams LEO Supporter

    I can't really see it that way. You had $8.00 and no coin; now, you have $8 less, and you have the coin. You spent $8.00 on the coin. How much went to the seller, how much went to the post office, how much went to eBay -- none of those are relevant.

    But, as you say, you're doing it for fun, so the "fun factor" does matter. After all, you wouldn't be paying anything for the coin if it wasn't fun, right? :)
     
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  7. Seattlite86

    Seattlite86 Outspoken Member

    Collect what you like and can afford. I have a personal rule not to buy silver over spot, but that also limits what and how often I purchase. The majority of circulated silver coins will only be worth melt value, so keep that in mind when you pass these on or try to sell. Happy collecting :)
     
  8. Robert91791

    Robert91791 Well-Known Member

    Regardless, you are still a coin collector.
     
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  9. 55Doubled

    55Doubled New Member

    I see nothing wrong with how you collect. No one else should, for that matter. That's the beauty of our hobby, there is no wrong or right way to collect.
     
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  10. JPeace$

    JPeace$ Coinaholic

    I like the way you collect. It fits your budget and you buy the coins you find attractive. That's what a collection should be about in my way of thinking.

    I have a few sets I'm trying to complete, but other than that, I also like larger silver coins. I too have duplicates. I collect what I like and find interesting. I also get ideas for new coins from reading posts/threads of the other members who participate here.
     
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  11. dougsmit

    dougsmit Member

    I see no reason to be concerned about any coins you buy that you do not intend to keep long term and for those of us on Social Security, that could well be for the rest of our lives. I suggest spending only the same kind of money you would spend on entertainment or dining out (fine restaurants or fast food) and don't worry about what others think. Don't spend the money you need for necessities. Melt value is a meaningless number unless you melt the coin. Collector's value is meaningless unless you sell the coin. I only collect ancients and do not spend nearly as most on coins as my peers. If the market were to drop by 90%, my coins would still be as important to me as they are now but I'd be happy to buy more new ones. When it stops being fun, stop doing it. Worrying about your hobby is not my idea of fun.
     
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  12. Phil Ham

    Phil Ham Hamster

    If you are collecting for fun, it is fine. If you're doing it for an investment, I would doubt that you'll make your money back counting inflation. Meanwhile, you can probably make at least 4% on any safe investment strategy and probably 7% if you take a little risk.
     
  13. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    No 'rules' when it comes to collecting.............
     
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  14. JPeace$

    JPeace$ Coinaholic

    Isn't that a rule? ;)
     
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  15. -jeffB

    -jeffB Greshams LEO Supporter

    No, that's an exception. :rolleyes:
     
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  16. JPeace$

    JPeace$ Coinaholic

    to a rule? ;)

    So isn't an exception to a rule, technically also a rule? LMAO.
     
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  17. GUNNER63736

    GUNNER63736 Well-Known Member

    Y
    Yep, I do realize that I have to pay the fees, but what the heck. A coke and hamburger is more than that and the coins are far better for my old heart and I enjoy them far longer.....I hope. LOL
     
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  18. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

  19. JPeace$

    JPeace$ Coinaholic

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  20. GUNNER63736

    GUNNER63736 Well-Known Member

    Oh well, I play by my own rules when it comes to coin collecting. Right or wrong, I just enjoy it.
     
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  21. JPeace$

    JPeace$ Coinaholic

    As you should. It's your collection, your rules!
     
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