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How should I start an ancient coin collection?
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<p>[QUOTE="dougsmit, post: 2797191, member: 19463"]I see two ways to approach this situation. One is to spend half your resources on your specialty (mine was Septimius Severus) and the other half on other things that interest you but to a lesser degree. My favorite college professor advised to learn a little bit about everything and everything about some little thing. </p><p><br /></p><p>The second is what might be termed 'serial monogamy' collecting. That means specializing in something until you either tire of it or have trouble finding different things at which time you stop collecting that (for a while, anyway) and focus on a different specialty until it wears out its welcome. I have had several specialties in the last decades but retain some degree of interest in each of them even though it may have been several years since I added to that theme. I do not suggest selling the first collection when you start the second since your interests might recycle. This requires you also follow my advice on spending limits. Buy coins with the kind of money you spend on things like eating in restaurants and going to the movies. Don't spend the money you will need for sending the kids to college or paying the electric bill. The problem with coin investing is you have to sell them to get our money and the time you need the money may not line up with the time you can find a buyer for what you want to sell. </p><p><br /></p><p>We all do it our own way. If you can consider it good enough to own a coin for a week rather than a lifetime, you might be a better coin dealer than a collector. Many of the best dealers do not collect and do not compete with their customers for coins. I could not work this way but many find it their answer.[/QUOTE]</p><p><br /></p>
[QUOTE="dougsmit, post: 2797191, member: 19463"]I see two ways to approach this situation. One is to spend half your resources on your specialty (mine was Septimius Severus) and the other half on other things that interest you but to a lesser degree. My favorite college professor advised to learn a little bit about everything and everything about some little thing. The second is what might be termed 'serial monogamy' collecting. That means specializing in something until you either tire of it or have trouble finding different things at which time you stop collecting that (for a while, anyway) and focus on a different specialty until it wears out its welcome. I have had several specialties in the last decades but retain some degree of interest in each of them even though it may have been several years since I added to that theme. I do not suggest selling the first collection when you start the second since your interests might recycle. This requires you also follow my advice on spending limits. Buy coins with the kind of money you spend on things like eating in restaurants and going to the movies. Don't spend the money you will need for sending the kids to college or paying the electric bill. The problem with coin investing is you have to sell them to get our money and the time you need the money may not line up with the time you can find a buyer for what you want to sell. We all do it our own way. If you can consider it good enough to own a coin for a week rather than a lifetime, you might be a better coin dealer than a collector. Many of the best dealers do not collect and do not compete with their customers for coins. I could not work this way but many find it their answer.[/QUOTE]
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