I'm a journalist for InsideFlyer magazine, a publication devoted to frequent flyer programs. We're working on a story that examines the psychology behind "mileage junkies" – i.e., folks who go out of their way to earn (and then largely keep rather than use) frequent flyer miles. Without forcing any dubious comparisons between numismatists and mileage junkies, I'm still compelled to ask: Are there coin collectors out there who are simply "hoarders?" That is, collectors who primarily just want to get their hands on as many coins as possible, without much regard for value or history? In addition, where would the line be drawn between "hobby" and "obsession" in the coin-collecting world? How many hours a week does a collector spend managing and/or discussing his or her interest? Have messageboards like this increased the amount of time you devote to collecting? As you can no doubt tell, the story's in the early stages of development right now, but I'd nevertheless be grateful for your input. Jeff Managing Editor InsideFlyer
Im not sure of the connection between coin collecting and mileage junkies(your term) . I do know a person who hoards coins, never really ever goes thru them has no I dea what he has and really doesnt care, Im not an expert in psychology but everytime we talk and I try to get into his coins I come away thinking he's nuts, But the majority of collectors that I know personally, a low number maybe 3 collect from a passion for the coins related to history, beauty, and a desire to have all of a given type or variety. most of the other collectors I talk to in the format of a forum, seem to have the same effectual reasoning. Can a coin collector become obsessed I would say yes, but it is an obession from one coin to the next,I really believe that coin collectors spend most of their time learning, and sharing knowledge and the search for a coin is a relaxed thing not frantic,or rushed , but thoughtful and dedicated.
All coin collectors I know are specific about what they like and also know what they like. I've never met anyone that just bought anything without regard to their tastes and interests. As a collector, I can say that I spend a good number of hours per day gathering information or "playing" with my collection. Information gathering includes this forum, where I've learned a great deal, but it also includes periodicals and books. I think most of us that are serious about coins spend a great deal of time per day in one form or another on something related to the subject.
As a 30 year collector I must say I don"t hoard any particular coin but at times wish I had! I tend to spend some time (varies) everyday with my coins and now that I have added world coins, which I absolutely swore I never would, the time needed has increased daily. Yes, it is a passion and I look at it as a hobby, an investment and a savings plan all rolled into one nice little past time. I am at a loss why anyone would collect frequent flyer miles? Basically you don't have anything until you use them? Correct? Not to mention there is nothing to hold, admire or study and I see nothing RARE about them? Why keep them? I am sure you will get many more opinions on this matter and they will be really varied as coin collectors ALL have minds of their own and seek out their own desires which is what makes this the greatest hobby in the world.
Hi Jeff, As a graduate student in a psychology program, I would be remiss if I did not suggest that you speak with a few clinical psychologists (Ph.D.) to learn more about hoarding and obsessive tendencies. You may also want to ask about/ research various types of addictions, if you think that "mileage junkies" might portray such characteristics. I can put you in contact with a couple of bright minds, if you like. A (very cursory) personal opinion is that you might fare better comparing frequent flier accumulation to wealth accumulation as evidenced by money in the bank, as opposed to the collection of something that is not as easily redeemable. That is, my opinion would be that such individuals are portraying "miserly" characteristics and may derive some satisfaction from maintaining a stockpile of redeemable points that are readily available. Are there hoarders who hoard money? Certainly, but they are almost certainly not collectors who seek rare coins to increase the value of their hoard; they are more likely those who distrust banks or for whatever other reason feel their money is safest when stashed in a private location. Are there coin collectors who simply hoard coins? Probably not, unless you count those who might "hoard" as many coins of a particular type to enhance the rarity and value of the remaining coins in that type (forcing a monopoly, in essence). The line between "hobby" and "obsession" can be drawn for nearly any endeavor. For example, video games, gardening, drugs, and volunteering could begin as hobbies but could turn to obsessions, given the appropriate individual with the right (or wrong, as the case may be) personality characteristics and/or susceptibility to obsessive behaviors. Again, I would direct you towards knowledgeable researchers to delineate this further. Good luck and let me know if I can assist further! Regards, ~neuron
I would bet there are more numismatics than FF mileage "collectors". As someone who does his fair share of flying, for me, the last thing I want to do is fly more. Between connecting flights in Atlanta, security waits, and cancelled flights because some fly attendent over slept, I would rather drive if it is less than 7 hours away. FF programs need a master's degree to figure out and I couldn't tell you if my fare was an "U", "L", "M", etc. class and how many miles I would be awarded for a given flight. Then, when I want to use them, I have to book a flight 10 months out and hopefully it will be available! Most of my FF is with Delta because I live in the Southeast...you know that airline: "We hate to fly and it shows." They remind me of Eastern Airlines and how they operated before they went under. As for coins...for me it is the history (if this coin could speak, where has it been, who used it), the beauty, and what I call the "Scrooge Factor" of MORE, MORE, MORE...it's all mine, mine, mine. Also, there is a sense of accomplishment, when you fill an open slot, or upgrade your collection with better coins. I can see my coins, admire them, show them off because they are tangible. There is a certain "high" when you add a new coin to your collection. I can't imagine the same "high" when a person's FF statement comes in. They are just numbers on paper until you use them, IF you can use them...nothing more. But best part of it all (collecting coins) is that it is time when I can relax and NOT think about the flight I have to take. Hey Jeff, no disrespect, but you are disturbing my "peace" time by making me thinking about flights and travel hassles. Good luck on your article.
I'm in a half dozen frequent flyer programs, and I trade them in as fast as I get them. Like Ed, I'd rather drive if it's 7 or so hours away (and I usually do). I don't think I hoard any coins... though I get carried away with buying too many. It's not because I'm trying to go for quantity. I'm just overwhelmed too easily. I either like the look and design of the coin, am trying to complete a specific set, and/or get that warm-fuzzy feeling when I think about the history behind it. There's always something new to see and learn. I think almost anything can be hoarded, but I don't see a direct connection to coin collectors (maybe in the Ted Binion story?). I have a relative with 20 boxes of unopened Beanie Babie cards and a case of old Easy Bake Oven mixes. A friend has a rubber band ball the size of my stove. Why? Who knows. Maybe they're hoarders of another kind.
I think Neuron's view is very insightful. I also would suggest speaking with some professionals about obsessive behavior. Although people who collect (doesn't have to be coins) all seem to have a special characteristic that makes them want to collect, I think that this is very different than what you are looking for. Collecting and hoarding are two different things. A paranoid individual may "hoard" canned food, water, etc. because they are convinced that a nuclear war is right around the corner. Or someone who grew up poor may hoard money and spend very miserly so that they feel that they will always have a cushion and never be poor again. This could seem perfectly sane on the surface until the savings reaches astronomical proportions and the individual is still wearing rags and living in a shack. Is it possible that the people who are hoarding FF miles feel that they need to be sure to have them "just in case" an emergency arises and they need to visit a sick friend, go to a funeral, etc.? It is very possible that there are individuals who feel that the airlines are still not safe and would rather hoard as many FF miles as they can get and then, when they are comfortable with flying again, they will never have to pay for another flight. Regardless of how you look at it, I think you will get a clearer understanding by exploring the psyche of people in general, the various obsessive mental conditions (and there are a ton of them), the overall feeling people have about flying. Good luck in your research.
Sounds like an interesting article. Why does anyone collect anything? I have a customer at the bank that hoards star notes. We are supposed to save all the star notes we come across for him, and he comes in about once a week and buys them. We usually have about $30-$50 worth that we actually catch and set aside. Multiply that by the five years that I've worked there and that's a good chunk of change he's hoarding. I asked him one time what he was doing with them and he said he just liked them. Takes all kinds I guess. The only thing I hoard is junk silver- I'm waiting for it to hit $80 an ounce again! (HA!) Rachel
Well ya can't have it - it's mine - MINE I say !! Well Jeff, I must say, that's an interesting correlation you have suggested. But I can't say that I have ever known anyone who fit the description. The only way I hoard coins is to save enough to take them to the CoinStar machine - and then buy more coins with the proceeds But it certainly seems I hoard frequent flyer miles. Every time I try to use mine - they end up telling me the flight I need doesn't qualify So I end up saving some more. 'Course one of these days I may be able to fly to Saturn - for free Now as to how much time I spend on this hobby - ohhhhhh how's 40 - 50 hrs a week sound ? But I'm not obsessed - unh uh - not a chance. And I have my own degree in psychology so I don't need anybody else to tell me that
Well I guess I have to add my two cent piece in here... What your asking about sometimes can be found along a thin line. Investor, Collector, Hoarder. Understand that there are crossovers in every catagory the answer to your question is yes, yes, and yes. If I were asked to define each, and again realizing there are crossovers, I would do so in this manner. An investor needs to have a certain "return on invested dokkar". They will buy coins in an attempt to gain a given percentage of return during the course of a year without regard to what is being purchased. Dealers can be classified in this basic section. A collector is a person who wiill assemble a collection in a given order with a completion in the future. A collector may be doing several collections at the same time and even collect in special grade. A person who hoards is a football of a different color. They may like to stash away coins just because there silver or old. The may have fell in love with an Indian Head penny and they can't own enough. They may be an investor who has it pegged that a certain series is really gonna go and starts buying everything in that series and then decides to sit on it. There are all types that make up the coin industry. I think thats what makes it interesting. catman
By the way GD, I got part of your big white package today. Unfortunately I had to share it with the whole state and it was only about an inch. We're supposed to get some good snow this weekend though.
1,000,000 miles Jeff At one point in my life I had over a million frequent flier miles. I had to travel between the US and numerous foreign countries. It got old and boring. Real Fast. I have taken my family on trips and donated milage to various charities. Now I have used up most of my miles and I no longer travel unless I have to. But coins a different story. I do not collect US coins. I collect foreigh coins. I have learned more history and trivial facts in the short time I have been collecting than all my years in school. One of the best pieces of advice I got when getting into this "hobby" (lifestyle) was read the book do the research - buy the coin. Amazing what you learn when you read. (Your magazine) Or Forum postings. There is a wealth of knowledge contained in the minds of thiose who contribute to thes forums. Most collectors don't just go out and buy coins, they are on Missions. Similar to the Mission for the Holy Grail. We seek after it but hope the search never ends. If it did- No more Fun. To borrow and twist a quote from someone -If there is a coin/banknote/token that is virtuous, lovely, or of good striking or praiseworthy, we seek after these things.
