Collecting coins vs. Hoarding

So I've been thinking a bit about my new approach to collecting. It has changed quite a bit since I first started.

When I first started I remember just adding on to what I inherited from my Grandpa, trying to finish his sets for him after he passed. So that involved a lot of grading, alot of pricing out, and bartering for prices. Searching for individual dates.
I finished those sets and moved on to the large cents. It was a set that My grandfather had not started so it was my first, FRESH, set of my own.
It started like the first section of my collecting years, date by date, upgrade by upgrade. Once I finished the set I realized I wanted more. So I just staretd buying more, and not really replacing any, they just sat next to the original coin in the binder.
Eventually it got to the point where I didn't sell any, and I stopped buying coins in specific grades. Now I could care less if one of my coins has a hole in it and is cleaned, or if it's XF and problem free. I just want more.

So I often find myself messaging ebay members selling in bulk and just buying them out, if I can afford it of course,

So I'm curious how many others are like this, how many of you just buy with no end, just to have more?
I would rather buy 30 for 45 dollars, then buy one high grade for 45 dollars.

 

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Oh I have caught myself at times doing the same thing. The worst part is that I know that 30 - 45 dollars then I spend on many items may not ever be worth the 1 item I paid $45 for and I cant fathom that be a good thing either.

./shrug

Shrek

 

I probably would if I could afford it. I prefer quantity over quality (collecting world coins allows me to have both in many cases!) but quality isn't a bad thing either.

I think I am working on a hoard of my own...small by hoard standards now but I am just starting out...for instance, I save every wheat cent I get in circulation...Never been more than 10 in one month, and some months have 0. I've only been doing this since 2008 so it's not a large cache yet. Someday, maybe.

I also save every coin that meets a certain condition standard that I come across in change. I don't care about numerical grades, but if I get a modern cent, any year or mint, that has no major scratches, no black spots, no fingerprints or other stuff that makes it look less than brand new...I save it. Not that many coins meet that standard. I usually do two rolls of cents at a time, and I usually end up saving less than 10. I do this for all the circulating coins but I mainly do rolls of cents. (I enjoy the hunt, I find the best stuff in them, not hard for me to find an upgrade in them, I am allergic to the metal nickel, and I can usually always afford a dollar to hunt two rolls!)

If I could afford it I have no doubt I would get coins that looked nice, regardless of if I already have that date or not. But, money is so tight that if I am going to spend any it's going to be on something I don't already have. At least for right now, and the next couple of years. Who knows what the future holds?

 

I'm actually going in the other direction. I originally wanted as many as I could get for my $ but am now happier buying single coins that are more rare, higher grade, etc.

 

Interesting...I got back into coins much the same way as you. My Father passed and left me quite a few Unc Morgan dollars. I "discovered" eBay when I was trying to find out what they were worth...and the rest (as they say) is history.

All my collections are various grades of Unc/Proof, but I'm also a "Value" collector/hoarder. I can't pass up what seems like a deal (to me, anyway)...which has lead to much of my hoarding.

My problem is a total lack of focus. I'm trying to regain my focus now by concentrating on the First Spouse series, but it's expensive and I find I don't have much money left over for anything else. :crying:

 

Snaz, step away from the computer. Take three deep breaths and repeat after me, "quality is not quantity, quality is not quantity".

 

An interesting distinction. Hoarding I think is collecting, minus the sorting, grading, or any organizing.

 

Nice distinction. There certainly is a lot of organizing involved. Every die crack, and every repunched letter is marked on the flip.
As for the quality is not quantity quote...

I disagree, I've done the quality thing already. I finished the set that way. Now I feel like I would rather have as many varietys as I can without having to pay big dollars for each one because of it's high grade.

 

Yea Im more like Yakpoo as I started getting lots and filling holes and if I didn't have it I wanted it. That turned into more of the same just in better grades like you said.
But then one day I went to even higher grades and want real good quality stuff on most. Except new sets that I start like bust halves...seeing I dont have a low ball set those can be low grade till they need upgrading

 

I am a collector who fights his hoarding tendencies.

 

ill find my self buying a 50 dollar coin that shouldnt be that much but it is either a error or a rarer type or date/mint but as for hording all i rely do is if i see a 1981 cent or below i keep it in my copper jar after i look at it for errors :hatch:

 

I'll let the pics of one room speak for me:











The plastic bags in the next picture are filled with sorted wheats- by date and mintmark. Each tub weighs about 10 pounds:

 

WE WANT MORE KRISPY!

Yeah man, I always knew you were crazy about roll searching. You pump those things out like crazy!
What's been your best find so far? That 1962 guitar?

 

That's one of them. I find one decent error every couple of weeks. Some Canadian, some American. One day I'll do a post with a bunch of them.

I didn't take pics of the sorted stuff. Most of that is in the safety deposit box. Also, the bank bag is locked away.

I also sold about 250 rolls about a month ago. That helped reduce the pile a little.

 

I try to stick to collecting but I start hoarding when I see a nice unblimished coin in my pocket or in a roll I go stick in a 2x2 and add it to the box regardless to how many of that coin and date I already have. I just cant seem to part with a pretty coin. Kinda like a fly and a bug light.

 

I just recently (in the past month or so) developed more of a focus in my collecting, along with developing a priority list of coins that I want and what I am willing to pay for them. It took a lot of research but was well worth it. I have found that I enjoy the hunt more than just accumulating a hoard of coins that I later regret purchasing on a whim. TC

 

That pretty well sums me up as well.
Guy~

 

Wow ,, "ikandiggit".

for me i prefer buying rare hight grade coin.

 

Saving up and and buying a high grade coin is one good way to build up your collection.

I've been assembling my collection(s) from coin roll hunting and finding collectible coins and bills from circulation.

I've only purchased a few coins. Most have been foreign and I bought them because they were something that I most likely would not have found and the prices were right. Eg. 19th century bank token.

I have a collection of foreign coins, a couple collections of error/variety coins (U.S. and Canadian), a collection of world banknotes and a collection of Canadian banknote errors.

95% of those have been put together by paying face value.

The other thing is that the remaining rolls just get cashed in (if they have no collectible value or can be sold at a premium by assembling solid dates).

The thrill of the hunt makes up for the time spent searching. Also, I find searching through stacks of bills or rolls of coins therapeutic.

 

Snaz,

It wasn't unusual for me to hoard coins much like you. Oh, sure, I still had my primary collections, but I wasn't averse to having muliples of this and multiples of that as well. I dropped large sums without overpaying into bulk purchases just because I loved searching coins.

Then, the economy started tanking about 5 years ago, and two years ago, my employer closed his business. Given the economic climate, it's not easy for someone 60 years old to find another job. I'm 62 now, and I've submitted more than 175 applications but I'm still unemployed. I had no choice but to file for my Social Security retirement, but even that isn't enough. I've been forced to sell many of the coins I hoarded, and I've taken considerable losses on them even though I didn't overpay for them anyway. I've managed to hold on to most of my primary collections, but there may soon come a time when even those will be at risk.

What I'm trying to tell you is once you've sorted through all of those coins that you bought in bulk lots, once you've pulled out all the ones you need for your primary collections, sell the rest before it comes to a time where you don't have a choice. If you wait until that day, you may not like the outcome.

Chris