Hi All, just joined the forum here a few days ago and I've already been doing a lot of reading on here. I joined for a couple of reasons. First a quick background. I've been a casual collector since I was a kid, my grandmother has worked for Littleton Coin for over 40 years, I worked there right after high school for a short bit, and my wife worked there processing orders for a couple of years. Now, that being said, probably 90% of my collection is from circulation. I also recently got interested in metal detecting and locating old silver coins which prompted me to dig back into my collection while I wait for the snow to melt. So I say all this to bring me to the part where I decided I should get a little more serious about my collection. It's a bit overwhelming however, I'm a bit compulsive with organization so I've tried to come up with a system of organizing things that won't empty my wallet. I have probably a dozen or more folders and I had planned to move them to 2X2's placed into pages and put into binders. That's not cost effective on pennies, nickels, or most other circulated coins worth only face value. But, I may still go that route for everything over a nickel or anything deemed to have some value or chance to appreciate. I also enjoy coin roll hunting and searching circulated coins, but I want to add pieces to my collection that I both enjoy and will also appreciate over time. So I guess what I'm looking for is some advice and or stories from people about taking the leap from casual collector with coins not worth much to a more serious collector with something I can sell years down the road when I retire or pass on to my kids. As is often the case for people, money is usually tight so buying lots of silver isn't something I'll be doing anytime soon. I know this is a really open ended question but just looking for a feel of what roads I can take and how to start down them. Sorry for the lengthy post, I tend to ramble sometimes (this is part of how I get overwhelmed, lol )
Welcome! Sounds like you are already firmly entrenched in this lifelong passion called coin collecting. And how cool is it that you worked for the outfit that was responsible for sparking this fire in many of us? And yeah.... I think it is a side illness of all us collectors that we are facetious organizers. And often hoarders too!
Welcome. When I became more serious about coin collecting, my first mistake was to try to collect too many different series at once. That may work for some people, but on a limited budget and limited time, the feeling of too many incomplete directions set in. So now I have narrowed my focus. I generally don't collect anything clad anymore, with a few exceptions, because I personally feel that the state of coin collecting as a whole is in decline numbers wise, and I want to focus on older coins and also coins with some intrinsic value so when I pass my collection on to my children, it has some real value. But you should collect what you like. Just sharing my experience.
For those coins that do no merit an individual holder (2x2 or airtite), you might consider storing them in plastic coin tubes. You can visit Wizard Coin Supply and browse their many storage offerings.
Ya we sort of take Littleton Coin from granted around here, for most people they are just a company in the area that employees a lot of people. But I've had a connection to it my whole life as my grandmother has worked there since before I was born. Thanks for sharing, and you're right, I sort of get the "got to get them all" mentality myself. I should pick some smaller "sets" to collect and go from there. maybe something inexpensive to cut my teeth. Thanks for the tip, I do plan to get some coin tubes, time to make a supply order soon.
I collected casually as a teen, mostly from circulation. Then put it in a box for 20 years. Came back to it with renewed interest and a bit more to spend on it. I also decided that I like silver since it affordable but still has some bullion value if it ever comes to that. I've also enjoyed working on a Dansco 7070 album as a way to sample a bunch of different types of coins. It has helped me figure out what I like and what I don't.
I'm kind of in the same boat as @Jeepfreak81 and very much like SilverMike too. I've confronted myself with a new dilemma, and that is storage. I've decided that I like these white guardhouse boxes, but I have only three singles, one of which is not as long, and may not take the same square 2 x 2 plastic coin holders as the other two. I thought these would fill my needs, but I have found that my variety of coins has overflowed the two Tetra boxes while I am at a loss to figure out what capsule goes in the shorter one. In fact, I've already found I have more coins that slots and holders. A fourth box was filled quickly with a number of different coins... several Mercury and Roosevelt silver dimes, a few early 60's quarters and a large number of both Indian Head and Lincoln Wheat cents. I'll have to get some more medicine prescription tubes from the pharmacy, or resort to a jelly jar, the new arrivals are so overwhelming.
Collectors collect. Most of us define a collection of something that interests us and then proceed to acquire one of each. This can be anything from roosevelt dimes to one coin from every country. They make many different albums and folders to house the most popular choices of collections but you always have the choice of flips and vinyl pages if they don't make one for your specialty. Have fun.
Best advice I can give you about this is to just get the idea right out of your head and forget about it. Collect coins because you like them, do it because it is fun for you ! I say this for one primary reason, 95% or more of all collectors lose money when they sell their collections ! The only money you should ever spend on coins is money can afford to literally throw away. So if you want money for your retirement - it's not going to be found in coins. There are far, far better ways to provide for that.
Thanks for the advice, I'm not interested in the raw investment of it, I do enjoy collecting and don't expect a particular ROI. That being said, I also want to collect things that aren't worthless. Not so much because I want to buy something for $10 and sell it for $100, but as a tool for saving/investing. Might not be for me, maybe it will be passed down to my kids and maybe they'll sell or maybe they won't. So I'm not hung up on the idea that I'm going to make money, it's a hobby first, one that brings some enjoyment and I'm ok with spending some money on. I think I need to decide what coins I like the best and just work on a couple of sets not worrying about what the value will be down the road.
That'll be fine as long as you remember this - The only money you should ever spend on coins is money can afford to literally throw away.
