Biggest Problems Facing Collectors?
laxmaster92
Posts: 777
As a collector, what do you think the biggest problem you face is? Be it handling coins, storage anything.
I feel that we need a clear cut way to identify a real slabbed coin from a chinese knockoff.
I feel that we need a clear cut way to identify a real slabbed coin from a chinese knockoff.
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The biggest show around me happens every Thanksgiving more then 5 hours away from me.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
"Inspiration exists, but it has to find you working" Pablo Picasso
I mean.......
"Seu cabra da peste,
"Sou Mangueira......."
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Heh- heh !
Trick Question?
<< <i>Biggest Problems Facing Collectors? >>
$lab$
K S
Ryan
<< <i>Lack of knowledge. If the person selling you a a coin knows more about it than you do, you are at a disadvantage. >>
Truer words have never been said...
Also @ Dork Karl.. I agree
<< <i>Biggest Problems Facing Collectors?
>>
..I think the biggest problem is what would my collection be worth when I'm done with collecting...( DEAD )..after I have passed on..and passed my colection to my heirs...If I have been collecting all these years what is it worth.I know I'm getting the enjoyment now while I'm saving these things...but I'm also spending good money on them also...!!!
Followed by sky high prices for stuff that is interesting.
<< <i>The biggest problem I often encounter is time. I'm always wondering what the future holds for the hobby. Currently, I'm 23 and its not hard to see there are very few new, young collectors joining the hobby. While it doesn't bother me, more coins for everyone, but once I reach an older age, I don't want my collecting efforts to go unappreciated.
Ryan >>
I don't agree, Ryan.
There are more people getting started in coin collecting now than I can ever remember, I'm nearly 65, and I started collecting as a teenager in 1957.
All the new designs of Cents, Nickels, and Quarters are the reason.
The new Dollars would bring in more also if they would only circulate.
We'd see it expanding to older series if the economy were better.
People either don't have the money to buy the older coins right now, or are afraid to spend the money they do have on a hobby.
As for me, I'm getting my 6 year old boy started in coin collecting.
He loves it.
Some of the members here have sent him coins, and he's thrilled when he gets mail with a coin in it, for his collection.
Right now is the best time to buy up better date, older coins, in better condition. (I'd suggest the Bust and Seated coinage)
It's doubtful they'll ever be cheaper.
Ray
<< <i>...sky high prices for stuff that is interesting. >>
That is my personal biggest issue.
<< <i>Ignorance. >>
...which comes from relying on others (ie plastic co's) to do EVERYTHING for you
experience is the antidote to ignorance.
K S
kidding - actually she enjoys collecting nearly as much as I do
serious answer is money and space - we collect a lot of things including cars so space is an issue. We just built another garage this year but still have to pay to store some
Of course, things like dealers brown bagging their lunch at conventions, even for health reasons is now taboo?
Now if there was a rule preventing dealers from eating at their bourse tables due to a potential or real rodent problem is entirely another matter. Is that a possibility?
Perhaps there should be a special lunchroom for dealers in which they could partake of a nice box lunch and a nice added benefit to them so they do not have to wait in line?
Time is money for them.
As much as it can be argued that collecting in itself is an emotional endeavor, one must not allow emotion to overrule common sense/logic.
Examples of emotional actions would be impluse buying, not educating oneself or addictive behaviors such as spending at levels that are the detriment to household budgets or amount of time devoted to collecting resulting in detrimental effects on family relationships.
Emotion often is the an active element in poor buying decisions whether its the price paid or the very coin itself being purchased.
<< <i>The biggest problem I often encounter is time. I'm always wondering what the future holds for the hobby. Currently, I'm 23 and its not hard to see there are very few new, young collectors joining the hobby. While it doesn't bother me, more coins for everyone, but once I reach an older age, I don't want my collecting efforts to go unappreciated. >>
<< <i>Frankly the biggest problem I face as a collector is not handling enough coins. >>
Same issue for me. I need to see many more coins in my series of interest to better appreciate original surfaces vs messed with coins.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>Cost....keys etc. are getting out of reach for me....because of this I have difficulty completing a series which means I will eventually reach a stopping point. >>
The biggest problem, as I see it... is the underlying problem to the one mentioned above...
That is...
Having to compete with other collectors in order to obtain the coins I desire... of course, this leads to the "double-edged sword" of... other than coolness factor, what is the main thing that makes a coin desireable?
Value... and it only has value if the number of people who desire it exceed the availble "supply"...
<< <i>
<< <i>Biggest Problems Facing Collectors?
>>
..I think the biggest problem is what would my collection be worth when I'm done with collecting...( DEAD )..after I have passed on..and passed my colection to my heirs...If I have been collecting all these years what is it worth.I know I'm getting the enjoyment now while I'm saving these things...but I'm also spending good money on them also...!!! >>
I solved that problem and you can too. If you're not a member of Heritage Galleries, join. It's free.
They have a program called "My Heritage" where you can build your collections on-line coin by coin.
It requires creating each series with date & MM, TPG or raw, and condition.
For each series, there is a total Numismedia Wholesale price shown for the whold collection as well as each coin.
This value is changed on a regular basis to keep up with the market.
Just do the work to create all your series and copy each one. These will be attached to your will with suggestions
as how to divide them up.
Mine states a coin toss for first pick; then after that pick is made, the other heir gets to pick two.
This continues two and two until they're all picked.
It doesn't matter that the values are wholesale as long as they're all figured using the same criteria.
Keeping track of the value of each set as this procedes insures that each will get about half of the value.
This can be adjusted to a closer finish by having individual coins not in the sets to divide one by one until they are all gone.
That's as fair as I could come up with without doing it one coin at a time.
Hope this is useful to you and anyone else looking for an answer to this question.
My biggest problem with coins is whether to crack a coin out of a slab to put it in my Dansco.
I've tried to draw the line somewhere around the $10,000 mark up or down according to the coins condition.
I'll go higher for a mid-grade coin or lower for an MS64 or higher.
Cheers.
JT
I collect all 20th century series except gold including those series that ended there.
<< <i>
<< <i>Cost....keys etc. are getting out of reach for me....because of this I have difficulty completing a series which means I will eventually reach a stopping point. >>
The biggest problem, as I see it... is the underlying problem to the one mentioned above... >>
what do you think has driven up the cost to outragous absurd levels? i have the answer => pla$tic
K S
<< <i>
<< <i>
<< <i>Cost....keys etc. are getting out of reach for me....because of this I have difficulty completing a series which means I will eventually reach a stopping point. >>
The biggest problem, as I see it... is the underlying problem to the one mentioned above... >>
what do you think has driven up the cost to outragous absurd levels? i have the answer => pla$tic
K S >>
This is the real problem. So many people rely on slabs or plastic that they are so clueless when it comes to the coins themselves. They see some bogus price guide and think they can make a huge profit by getting it into plastic X. That or buying a coin in plastic X based on a number. Dog of a coin and they like it . LOL
Of course, this was the nice way to put it other than the constant jerking around with all of the above and collectors, their coins and money.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
I believe that gold is being artificially kept in a narrow range by
PM Banks using loaned government reserve gold in an attempt
to hold inflation down and support the dollar.
This can be accomplished for only a finite period of time. With China ,
Japan and the Euro Countries cutting back on the purchase of new bonds
long term interest rates will be the first to explode.
With the enormous increase in world wide currencies, they are perhaps 70
times the annual production of gold. It will not be possible to sponge up this
money fast enough to prevent inflation that has not been seen in this country
since the use of Continental bills in 1779 or the issue of green backs during the
Civil War.
The accumulation of cash will be reduced in real value almost over night in the event
the scenario of high inflation is played out. How does one hedge your bets in these
circumstances?
Stocks..........Only heaven knows what the actual value of stocks should be.
Bonds..........What is 4 % interest mean on bonds when the actual inflation rate
may go to 17 -25%. In that event, bonds drop in value to compensate
for the higher interest rate
cash............While helpful, what value did cash have in the Wiemar Republic or Zimbabway.
The dilution of our money supply like the issuing of vast amounts of stock dilute
the cash you have hoarded.
Precious metals....May be helpful to some degree if it is in easily usable size souch as silver coinage.
Property.......With the huge overhang of houses on the market, and the secondary huge amount that the
banks have not chosen to foreclose on, makes property values somewhat suspect. In fact, home
rates in Florida and California are still high in historic reference.
Rare coins.....May be of some value as they may retain more value then cash.
Jobs.............With the lack of new jobs after the trillions spent or guaranteed by the Government, if we should
enter into a W recovery, that means another savage down turn with more job losses added to the
currant unemployment numbers. This possible 17% unemployment, under employment and those
workers who have already fallen off the statistical rolls will certainly impact our economy.
Credit............The banks starting to loan money only to people who qualify, who do not really need it.
for all other average working people, just go out and try to get a loan. Credit cards are all
jumping to 30% and the level of credit is being cut back for most people. Refinancing a mortgage
now practically takes an act of Congress or Divine Intervention.
Mormon Strategy....Makes some sense. Have a supply of ready to eat food packs that can be stored for several years.
Have a box filled with emergency supplies...Medical...hand cranked radio and flashlights,,,reserve prescriptions
drinking water stored in bottles...flares.
Of course there is always the money from the return of scrap cans and bottle returns that anyone can indulge in,
on your days off of work or after you report to the UI office.
This is not ment to depress folks, it is a warning to distribute what wealth you have, in such a way as to minimize
the chance of its devaluation or the inability to draw on credit.
Other then back woods naturalists and survivalists, perhaps coin collectors are the most apt to survive a serious economic crises.
We as a group, know the value of PM, silver coinage, true value vrs artificial and manipulated value.
Camelot
Our newest hire noted the coin pixs on my cube wall - we started up a conversation.
He is collecting the dollar series and the spouse series.