Is it Greed?

Discussion in 'Coin Chat' started by coin-crazy, Oct 30, 2010.

  1. coin-crazy

    coin-crazy Senior Error Searcher

    I wonder why most collectors would sell their most prized collections? It seems like there is a price for everything. I have a few coins that I could sell and make a few dollars, but I chairish my collection.Were as other collectors would sell theirs at the drop of a dime.Im a newbie , so is there something more Im missing about this hobby?:confused:
     
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  3. quartertapper

    quartertapper Numismatist

    I learned a long time ago that a great deal of people would sell anything for a price, including loved ones and internal organs. I don't think it's greed. It's just some people's mentality. Some people just have no sentiment for anything in life.
     
  4. 10gary22

    10gary22 Junior Member

    I am in the process of sorting my collection. It is meager and mostly junk coins taken from circulation. I have no heirs that are interested in getting them. If I find something worth selling now, while I have control over the sale, it is better than to wait and have a dealer take advantage of my wife who does not participate in the hobby. I certainly cannot take them with me and don't want to see them disposed of for a fraction of their value.

    gary
     
  5. quartertapper

    quartertapper Numismatist

    I can't argue with your actions at all, Gary. I'm hoping to raise my children to appreciate coins, as well as my inheritance. If I fail, I may part with my prized collection before I move on to the next life.
     
  6. 10gary22

    10gary22 Junior Member

    To date, I have only sold some junk Silver and a few duplicates. I will never sell another intact proof set though. Why sell the set for the price of the half ? lol But it has been a lot of fun learning how to create accounts, listings and completing sales. Better than watching Judge Judy or Oprah. lol And it is stimulating enough to keep a few brain cells alive....... I hope.

    gary
     
  7. coin-crazy

    coin-crazy Senior Error Searcher

    Ok well, my understanding is almost there. LoL..Thanks ,Gary !!!
     
  8. dond2885

    dond2885 Junior Member

    I have a book in which I have written the date, what I paid and the condition of every coin I ever purchased. Coins found in change 45 years ago of course are not listed. I will not sell any of my coins. I'm a collector and not in it for the money. With the book and the help of my buddies in my local coin club, my wife should be in good shape if she decides to sell. They could even set up a bourse table at our yeary show for my wife. My speciality is half dollars. I have a comlete set from 1892 to 1964, no clad please, all mintmarks. Many of the Bust halves and Seated Liberty are out of my price range, since I've had to cut back due to retiring. I need the Hawaiian Half to complete a set of early commemmoratives. I'm considering selling my junk silver I collected as a teenager to purchase one. I know I got long winded but, I meant to say that all my coins are special and handpicked, can't see getting rid of any of them.
     
  9. Cringely

    Cringely Active Member

    I'm in the process of selling my year and mint set of all 20th century copper/silver/clad coins to pay for a change in collecting interests (half cents and an 18th century type set - excluding the 1976 25¢ & 50¢). Without selling them, I couldn't afford to get new coins.
    No greed, just fiscal responsibility.
     
  10. Wiley-X

    Wiley-X New Member

    Sometimes people lose interest in the hobby, any hobby, and figure that they might as well get something back for their investment and use it for a new hobby. Sometimes people wind up flat broke and need money. Sometimes they might be trying to get that one elusive piece that they always wanted.
     
  11. lucyray

    lucyray Ariel -n- Tango

    I hope you get this for all it is worth: if you can dispose of your collection yourself someday, you will spare your wife "one MORE thing" to take care of (and there are so many) and she may not ave to find out all the things she doesn't t know. Yes, even with volumes of lists and receipts, it is still very nearly re-inventing the wheel. Or perhaps she too will find herself on the computer far too much looking up things she never knew she would have to know.
    Speaking from experience..
     
  12. Justis4All

    Justis4All Seeking the Truth

    you may never know the motovation behind selling a collection. i am sure there are thousands of reasons one can come up with. i also think that loss of interest could be included in the mix.

    jfa
     
  13. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Some people just need the money! I had to resort to selling some of my extra certified & raw Morgans after my boss decided to close his store. The economy was bad enough, but try finding another job at age 61 when employers can find hundreds of kids to do the same job for less money no matter what training and experience you have. After two years and over 200 applications, I gave up and filed for Social Security.

    Chris
     
  14. WingedLiberty

    WingedLiberty Well-Known Member

    edited - off topic and edging towards the political
     
  15. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    edited

    Chris
     
  16. WingedLiberty

    WingedLiberty Well-Known Member

  17. cpm9ball

    cpm9ball CANNOT RE-MEMBER

  18. kaparthy

    kaparthy Well-Known Member

    Sort of drifting off topic there...

    I am not sure what "most" collectors would do. Also, some numismatists are not collectors. I stopped buying stuff about a decade ago. For me, the history was always the reason to own the object. So, finally, the history itself was enough. I still did buy on occasion because as a writer, I need to actually know the subject first hand.

    Like others here, however, I have been underemployed for too long. Having already unloaded the bullion and other better items to dealers, I now set up at local shows to meet other collectors directly. Also, much of what I have is books and those are hard to lug around, so I get a table at a show.

    I worked through the Dot Com Meltdown. When the last contract ended, I was not too concerned, but that was Friday, September 7, 2001 and four days later, the world changed and I never saw $40 per hour again.

    My wife and I found new directions in a new town and just as we were getting resettled, her parents were both sick and her brother's National Guard unit was activated. So, we took time off for the family. After that, it was 2005 and we decided to finish the four year degrees we never needed when all you had to do was be smart and work hard.

    Now I have a master's degree.

    All along, these past 40 years, I always worked for myself, worked as a contractor or a consultant, temporary, free lance. I am pretty good at finding work -- or was. Things are pretty grim here in Michigan for everyone.

    I like meeting people. I like talking about numismatics. So, I sell coins and books.

    ... and by the way, greed is good. That's another discussion, edited We are in a depression because we abandoned the capitalist work ethic of Benjamin Franklin and Adam Smith. Read Franklin's "Way to Wealth" here .
     
  19. Texas John

    Texas John Collector of oddments

  20. kaparthy

    kaparthy Well-Known Member

    Better to die rich than to die of exposure under a bridge with your last meal from a can of dog food. Trust me on this, Tex. Money evaporates faster than water.
     
  21. texmech

    texmech Wanna be coin collector

    Something is wrong with this picture. A net worth today of around $1m properly invested would do the majority of the population just fine in their retirement years. I talking $50 to $70K a year, or more. Having said that I have know idea what you plan to spend each year in retirement. I am the same age as you and very much into planning our retiremenmt with the help of a financial analysis.
     
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