If I knew then what I know now

I'm actually somewhat familiar with Kahneman Warren. In that sense I may "regret" for instance not finding a way to compete for the Benz Eid Mar (my absolute favorite surviving specimen) in Lanz 88 in 1998, because it sold relatively cheaply and now is forever beyond reach at any price (literally out of reach; it's now locked away in the collection of the Museum of Fine Arts in Boston.) "Relatively" is the operative term here though; from memory, it hammered at 140K DM + commission. "Reasonable" or not, patently that's a lot of money and it would've had to come from somewhere; realistically that "somewhere" would have been my entire coin budget for several years.

That's not really what I'm talking about though. My regrets are for coins I could have bought without skimping anywhere else or affecting other coin purchases (or my ability to buy groceries) at all; coins I declined to bid aggressively on or to buy outright because of ill-placed considerations of "value" or a vague sense of having spent "enough" that year already. I regret certain coins I could now have in addition to the coins I do have.

 

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Thinking back on my limited time collecting I can't say that I regret or would change anything. I can't say I would buy quality over quantity, even though that is my goal now, because I have learned a lot from all of the crappy coins I have bought and subsequently sold. I can't say I wouldn't sell coins because those that I did regret selling at the time I don't remember anymore. Am I still going to buy the random group lot to play with? Heck yeah.

Would I focus on a specific time period from the beginning? Heck no. Have you seen the quality of coins throughout history? Not even just the ancient period but the thaler's of the Holy Roman Empire, the 18th century colonial coins of the Americas, the Papal States, the Arabic coins with the wonderful flowing script and the double headed eagle of the Russian empire. There are way too many to name. There is so much diversity in the coins we are able to collect that I could never restrict myself to a specific period. I respect those that do, but I could never do it myself.

Ultimately, any mistakes I have made I have learned from and I encourage new collectors to make their own mistakes because that is a great way to learn. The key is not dwelling on those mistakes and moving on. So go get tricked by a deceptive fake or buy a group lot that looks like money but is only a couple nice coins on a top of a bunch of slugs. Just make sure you learn from it.

 

Good point. With long experience we can sometimes know a coin is special and nevertheless fail to buy it thinking it would, or should, go for less, and then it doesn't. Or, we can stew about a fixed-price coin too long and have it sell before we get around to pulling the trigger. Someone else also felt it was special.

 

Frankly, if I had to do it over again, I'd probably do it the same way, though I might know that I should do some things differently.

 

I'm a collector of modest means, so it's an every 3-5 year event for me to really splurge on a rarity. I own no gold. But I like coins and I like getting them often, so I realized a long time ago that my collection, when sold, will never carry auction descriptions such as "the most complete collection of X" or "the finest known example of Y."

Because I've come to terms with this, I am concerned more with historical interest, technical interest (i.e., does some aspect of the coin reveal clues about its manufacture), artistic interest, and eye appeal rather than grade and strike.

I'd rather have ten $75 dollar coins than a single $750 coin, even though those ten might have lower resale value in the future. I get ten-times the enjoyment and ten-times the education this way. I'd rather have hundreds of coins than dozens. I like discussing them and showing them off on here. Having a variety of coins means I have more opportunity to show them here!

And I'm a magpie collector, too, so I'll buy whatever coin that catches my eye, but I have certain tendencies and interests. I prefer imperial to republican issues. I like women on coins. I like the Antonine and Severan dynasties. I like Gallienus and Salonina. I like Gordian and Tranquillina marriage commemoratives. I like coins with Venus on them. I really like Roman provincials.

My advice runs counter to that a beginner often hears. Don't be such a condition crank that you pass on fun and enjoyable coins. Don't obsess about the faults of the coins you do own, but look at each coin as a learning opportunity. That coin with the ragged flan illustrates ancient flan preparation techniques. The off-center provincial with the interesting reverse type may never come up at auction again in a decade. The well-worn sestertius of Antoninus Pius was handled by thousands of people in ancient times and passed through the hands of laborers and gladiators and slaves and merchants and aristocrats.

They are all just really cool so collect coins YOU like. For whatever reason you like them. It's YOUR collection.

 

My thoughts exactly.

 

Perfectly stated. I collect the same way, and focus on the Histories or Critical Junctures in Human History that I enjoy. I complement your Imperial collecting with my focus in the Roman Republic and those entities that interacted with them (Carthage, Italia, Makedon, etc...) I enjoy gentle wear as it assures me that the coins had been handled and transacted by ancient peoples.

 

I wouldn't change anything. My collection goes all over the place from about 400 BC to the early 17th century and I love them all.

 

I would have started collecting a lot earlier!

Erin

 

I read a lot of bulletin boards and looked at many different types of coins before I pulled the trigger on my first ancient. I researched dealers, their reputations and I researched prices and grades. I learned to buy quality, I largely avoided bronzes and chose coins that I liked (not what other peope liked.) My idea of an impulse buy is hours or days of research before buying. I have also walked away, if the price was too high for me, with no lasting remorse.

btw I used to have regrets, and then I survived a heart attack. Not much to regret anymore. It is why my CT mood always says Lucky. As long as I remember how lucky I am, I have no regrets. If you have money to collect coins, you should have no regrets. Remember that and the rest is just icing on the cake.

 

This is my seventy eighth year of collecting and researching Roman Imperial coins. For me it has mostly been about the historical association of the coins -- their condition and appearance has always been of secondary importance. I initially collected mainly Julio-Claudian coins but for the past sixty years or so have specialized in the Britannic coinage of Constantius because of its association with my geographical roots and historical interest.

 

Wow! That is basically since the beginning of WWII. Very impressive!

 

I don't really have any "I wish I would have..." because I really haven't been collecting ancients very long. What I would suggest to someone new to ancients is to buy coins that inspire you. Maybe it's the beauty of design or historical interest. These kinds of coins will keep you passionate about the hobby and your collection.

 

I am referring to not buying coins i could have afforded.

We all see coins that are way out of reach. Those do not bother me so much because they were never an option.

 

Thank you everyone for the wonderful input. I'm letting all of this info burn into my brain. This is the kind of knowledge we newbies can benefit from immediately.

 

Great advise above.
I spent a couple of years looking at ancient coins before I decided I could get the most bang for my buck with Roman Republican denarii. They were (are) relatively inexpensive for the quality and age. I started buying VF for $50 +/- a bit. I think that option is still there. I like the stories (Tarpeia, Cipius, etc.) that go with the coins / RR moneyers more than the grade. Others have chosen the big silver coins of Alexander the Great.
Buy a few books, find a library that has a collection of books you can use (the ANA mails books on loan) and of course read things from the internet. I looked at coins at local coin shows and the few coin shops that carried ancients. I would wait a bit before selecting a "collecting area".

• I would focus on coins that spoke to me. It is better to buy at a coin show because you can see what you are buying. The downside is that selection is less and often a bit more expensive.
• I would completely avoid uncleaned coins that do not have a provenance and I did not see first.

@Volodya do not abandon hope, I have a few ex-museum pieces in my collection. Of course an EID-MAR is not likely to leave the MFA Boston.

 

I have a few regrets pertaining to my coin collecting hobby. The one that sticks out the most is my first coin purchase. I was about 10 years old, the coin was a Mercury dime in unc. condition, can't remember the year though. I sold it back to the b/m where I purchased it. Around $5 if memory serves. Would like to have it back now for nostalgic reasons. If anyone happens to run across it, please contact me.