The two types of collectors identified by Aaron, and echoed by his co-host Mike, are those who are "in it for the fun" and those who are "in it for the investment". One aspect of this is, that I think we're all aware of, is that for best chance of price appreciation, or at least getting your money back out in a reasonable time frame, you need to buy top quality coins. A second aspect, less discussed, is that if you are buying coins as an investment, then you really need to be an opportunist and buy whatever is priced right, rather than have your heart set on collecting a series. So, I guess we can add this as a characteristic of these two types of collectors: 1) In it for the fun: May have specialized interests, have a want list, be looking to complete series. 2) In it for the investment: Buys opportunistically based on price rather than a specialized focus. Aaron perhaps seems slightly dismissive of type 1) collectors, saying "there's nothing wrong with collecting a series, and that's entertaining (and numismatically rewarding)", although to be fair he's only saying this in context of supporting the need to be opportunistic (vs focused) if your goal is an investment return. It was interesting to me to see nerdy "series collecting" (what I do!) discussed in this way, although hard to argue. The willingness to pay up for a rarity to complete a series is obviously often at odds with it being a good investment, other than on the rare occasion where the quality is high enough that it might be. I think the best one can do as a "series collector" is to be patient and buy top quality for the less rare types, and to realize you are spending money (not investing it) when you pay up for those ho-hum quality rarities to complete a series. Another interesting subject in this episode is the value, or not, of pre-1970's provenance. Aaron's take seems to be that it's really irrelevant from an investment perspective, and in fact this type of focus is disadvantageous since (edit) there's a broader market without old provenance. Presumably he doesn't see much risk of this becoming a future sale issue. I've watched a few episodes of this podcast, and quite enjoy it. The style is a bit rambling, but Aaron comes across as very likeable, as well as providing a very experienced view of the coin market.