Some people set out to complete a collection (it could be a complete Morgan Dollar set, a complete Indian Head Cent set, etc.). When they complete the set they may sell that collection so they free up their money so they can start a new collection. Is that greed? I think not.
I felt that I should add. My wife isn't winning here yet. I seem to have spent the money I got from selling some duplicate items and purchased other things. lol My intent is still there to do this while I can, but the collector keeps overpowering the saner side of me. I seem to be stuck in the "sorting" process, and still searching rolls, so this may not end as I had thought it might. gary
I actually made my first sale of a 1962 D Proof set to learn how to sell on eBay. I figured that it would have a known value and fetch as much as other similar sets. Man, that was a cheap education ! Not only did it bring in less that the half was worth, I spent more to ship it than I charged. lol Yep, I sacrificed the set to gain some smarts, but I sure wish I had that set back.
I guess you really have to look at your on individual situation if a major crisis came up in Your life and you had to have extra money and this is the only way what choice Would you really have? i guess you could sell blood.....LOL
Sell some coins ![/QUOTE] I am just too attached to sell! But if ... If I lost my job.. Save my House... Food on the Table.... Medical Bills.... College Tuition/Loans for my Daughters... Well, you get the idea! Steve
I sold my gold because of that during the depression of 88-90. There was no work and I had to sell my bullion coins for about 1/2 what I paid. But as we all know, PM's are insurance. I tapped out, but was able to get my family through it. It hurt, but sometimes you just do what's necessary.
Has anyone brought up that maybe the collector was "finished" with the set and it no longer had interset for them? So many collectors get into the habit of just trying to complete a set that by the time it is done there is no fun left. It was the thrill of the hunt that drove them there, not the actual coins. Many collectors have sold off complete sets just because they were now complete. I thik this is wonderful. There are only so many collectible coins in existence, and a collector willing to sell off enables new coins to come onto the market. Many of these same collectors go back and assemble new sets, proving it was the hunt that they crave. I am sure some experts can name names, Brown comes to mind off the top of my head. Less famously, I had a friend that completed a Roman Emperor set. By the time he acquired his Gordian I, (the last one needed by him), he said it wasn't fun anymore, and hadn't been for the last few emperors. He sold them all off and went in an entirely new direction, collecting Celtic, and has been happy as a kid.
It would tear me up to take a completed set I have been working on for years and then sell it because I was done. As I complete a set I will just move on to the next set. The goal at least to me is being able to look at that completed set I have assembled. I mean I now love looking at the various incomplete sets I am now working on. I know to each their own. By selling the completed sets you are putting those coins back out there, but that is not my approach. There is no right or wrong answer.
I came into the hobby for the love of money. Getting modern coins at face value from a bank and selling for profit is a pretty easy thing to do. I realized fast, you wont make much if you have any kind of emotional attachment to your collection. I sell only my coins that can be found in circulation. A collection isnt that helpful when theres no food in the cupboard. Ive had to sell a few valuable coins for way below market before and it still bothers me. Its funny how some folks will buy coins that the mint still have in stock, for more. Take the 2010 prez dollar proof set. You can buy a set for less than 20, and sell the lincoln alone for 10. Keep the 3 other proofs for yourself at quite a bargain.
I have to say ,what an amazing story Howard. And I never would of thought so many others people,had so much to say about this topic. I guess everyone can relate, no matter what side of the spectrum your on! Thanks guys!:yes:
Thanks Hobo, sorry I missed your post. Some people even sell their set even if they don't need the money just to put the coins back on the market for other collectors. There have been many serious collectors do just that. Many are millionaires and don't "need" to sell. Its interesting, there was a thread on a Yahoo newsgroup years ago where people were extolling the virutes of collectors who donate their collection to museums. My position is because most museums do not need or care for coins, the best way to preserve your numismatic legacy is to have a well published auction. Not only will the catalog serve as a resource for the future, but the coins will "feed the addiction" of new collectors and stimulate additional research and learning. I don't know about you, but I learn a lot more about a certain coinage if I have one than if I am just reading for pleasure. If I own an example of a coin I like to become a somewhat expert on it to enjoy it more. Chris
Unless my collection is all MS70, the collection is NEVER finished. After all the holes are filled, then it would be upgrade time? Steve
I have to agree with you, sgiorgis. I completed my Franklin half collection a few years ago. It was one of the most fun series to complete, I might add. But, I started looking at many of the coins I have in circulated condition. The cost to upgrade was actually very reasonable! So, I'll probably take the old ones and use them as my silver investment. I could trade them in, but they don't take up a lot of space, plus they are my hedge against inflation in these uncertain times.
I agree! Especially Franklins, my 2011 goal is to complete an MS60+ Franklin collection, finished my EF-AU a few years ago! Thanks! Steve
