Why is it I have such a hard time........

LeeBone · June 8, 2013 11:50PM

.....trying to find coins in my collection that I can part with?

I have hundreds of Slabbed coins, BU rolls, GSA`s, Mint Sets, Proof Sets, and so many odds and ends, but when I went to look for some coins to sell the other day I only came back with 3...

It seems that I can always find a reason in my mind as to why I cannot get rid of a certain coin...

Does anyone else have this "problem"?

ElKevvo · June 9, 2013 1:56AM

Nope you are not the only one! I have coins that I should part with but I like them and just keeping them around is not any hassle. If I was to part with them I would need to photograph them, place an eBay listing or take them to an auction house, or haul them to a dealer. More work than just leaving them in the sdb. Hmmm....but then I would have money for more coins! Something to think...gotta go find my camera!

K

SaorAlba · June 9, 2013 1:57AM

I have the same problem, which is precisely the reason I have so many large SDB's in several different banks. I really don't like selling things, even though I have many many multiples of a lot of coins.

AUandAG · June 9, 2013 2:06AM

Yes, I have that problem. But, my wife does not!

bob

MidLifeCrisis · June 9, 2013 2:07AM

I've never really had this problem. In fact, one of my main strategies was to buy nice lower priced coins, hold them and enjoy them for a while, then trade several towards a higher priced coin I could not otherwise afford. That is how I build my colonial collection and how I was able to afford two Myddelton Tokens over the course of a few years - in fact, I think I traded one Myddelton toward the other, much nicer one.

I see it as the evolution of a collection.

BillJones · June 9, 2013 2:09AM

Yes, I have that problem, but one thing that makes it a bit easier to avoid holding on to a bunch of duplicates. If I acquire a higher grade example of the something, the piece that I have upgraded is ready to go.

WaterSport · June 9, 2013 2:25AM

You are sitting on a lot of money that could be used to update or fill holes in the collection. At least thats they way I keep mine from becoming an accumulation rather than a collection.

WS

BAJJERFAN · June 9, 2013 2:27AM

I felt that way too. Recently sold off some stuff and it got to the point where selling is almost as OCD as buying was. Recently I went through a bunch of mint sets and proof sets and wondered why I bought them. I guess it seemed like a good idea at the the time. Will sell them at auction and put the proceeds towards the grandkids' college fund.

I'd guess that you probably don't need to sell for the money. Frankly, looking at that stack of Bens took away a lot of the stress of selling.

ricko · June 9, 2013 2:42AM

Yep... I have that problem... never sold a coin... except for some dark side gold....do not plan on selling any ...Cheers, RickO

BustHalfBrian · June 9, 2013 3:07AM

You originally bought them because you liked them, right?

Selling things you like is difficult.

BAJJERFAN · June 9, 2013 3:11AM

<< I have the same problem, which is precisely the reason I have so many large SDB's in several different banks. I really don't like selling things, even though I have many many multiples of a lot of coins. >>

Nothing wrong with having dupes or many multiples of things if they're nice and/or you have a pet/favorite date.

Zoins · June 9, 2013 3:12AM

<< Yes, I have that problem. But, my wife does not!

bob

>>

Let someone else decide - problem solved

TwoSides2aCoin · June 9, 2013 10:34PM

There are those men who WILL NOT let go of anything. It confounds me that they ONLY buy. One gentlemen who is so old I think he's going to be gone yesterday, has the most extensive collection of _______________ in the nation. And I'm not sure he has any relatives. He hoards EVERYTHING and pays little to nothing for it all. He is a master cherry picker. You have no problem, or a hard time. I've witnessed the severity of this problem first hand in the shop..... often, I might add. In several men.

It's downright scarey to even type it out here.

Don't worry boys (those lurkers who are following me), I ain't naming names.

alifaxwa2 · June 9, 2013 11:50PM

OP, do you have a focus on your collection? I had a similar problem and it helped to take the time to look at everything and decide what I truly wanted my collection to look like. Once i did that, I was comfortable weeding out 25% and the money freed help me get a lot closer to finishing the goals that were important to me.

silverpop · June 9, 2013 11:54PM

no when I think a coin has to go it's gone

crypto79 · June 10, 2013 12:03AM

Collectors by their nature have a little OCD hoarding in them and the industry is built on the backs of collectors holding and buying more. If there was less hoarding there would be a much softer market overall. I always refer to variety collecting as the worlds best "well managed promotion". I now need at least 8 76s(common date) trade dollars to check all the boxes, if everybody needs 8 of them they become less common in a hurry.

JJM · June 10, 2013 12:24AM

I am an anti- hoarder......I collect a few other
things as well as coins, but just like with coins, I had to have 1 of everything then
I find what I really like, and just focused on that.....sold off the
other stuff to spend on my main interest......

drwstr123 · June 10, 2013 12:50AM

Everything has its price....no attachment at all.

LindeDad · June 10, 2013 1:01AM

There is some attraction to building my collection of mailing receipts also that spurs me on.

OPA · June 10, 2013 1:14AM

Do not worship false idols and remember, you can't take them with u once your 6 feet under. The first batch is always the hardest, but once you get started it's easy.

CoinRaritiesOnline · June 10, 2013 1:34AM

If you have a clear collecting goal and direction, and a not unlimited budget, then I would think it would be easy to identify the coins that fit the goal, to ID the ones that don't, and it would beneficial to sell the ones that don't fit to fund coins you still need.

daOnlyBG · June 10, 2013 1:44AM

I hear you- I had a similarly difficult time deciding which ones to sell last night.
I guess you have to realize that the objective is to "trade up," in the sense that you're always looking for coins that will better suit your interests. So, remember that the coin that will fill the void of your present ones in your collection will be even better. If the coin is truly unique and you highly doubt you can ever find its replacement, then it's a keeper.

LeeBone · June 10, 2013 11:37AM

<< OP, do you have a focus on your collection? I had a similar problem and it helped to take the time to look at everything and decide what I truly wanted my collection to look like. Once i did that, I was comfortable weeding out 25% and the money freed help me get a lot closer to finishing the goals that were important to me. >>

Focus

Yes and no.

I simply like lots of things and want so much. I have sold some chunks of sets here and there, and even some extra complete sets, but like the feeling of having such a wide variety of so many different types of coins. For example, if a collector friend asks me if I have a specific denomination, date, and mintmark, I can say "Yep, I got it."

Focus, halfway.

Don`t collect Darkside or Commems.
Moderns and Proofs basically are not my preference either; have some though.
I favor Morgans the most. Lots of time and effort went into my Registry Set. Won`t buy an overgraded coin, just won`t.
I like Key Dates of any denomination, and have taken an interest in having a Type Set.

Focus, better than a few years ago.

I`m thinking it`ll be easier to part with some more stuff as time goes on.

At least I hope so.

chumley · June 10, 2013 11:40AM

just gave me an idea for our host to create a new income source........ A PCGS INTERVENTION TEAM........ they swoop in and sell your coins

LeeBone · June 10, 2013 11:43AM

<< just gave me an idea for our host to create a new income source........ A PCGS INTERVENTION TEAM........ they swoop in and sell your coins >>

I`m actually picturing them trying to take mine.

JBN · June 10, 2013 1:13PM

It is very very tough for me to sell a coin. Only done it for coins replaced by upgrades in my WLH collection.

I still have 90% silver rolls with handwritten cursive labels my Mom wrote when plucking them from circulation in the late 60s. Can't imagine ever selling those - even though they are 'junk' silver.

magikbilly · June 10, 2013 1:56PM

Hi,

I did have that problem. But I found focus, and now am getting rid of stuff I had but did not "need" or enjoy as I should - passing on to collectors who really enjoy the stuff - and filling a few remaining gaps (and my pockets).

Best wishes,
Eric

Lakesammman · June 10, 2013 2:21PM

Can relate - but have recently refocused and it's made it easier to sell off non-core pieces, even if they are great coins that can't be replaced.............

GrumpyEd · June 10, 2013 2:54PM

One way to look at it is that getting rid of the junk starting at the bottom is improving the collection.
It also frees up money for some better coins.
Maybe it's time to focus in on what you like best?

Elcontador · June 10, 2013 4:32PM

As some others said, focus. What is the focal point / are the focal points of your collection? If / when they change, it's time to sell some coins.

Ie., for a long time, I couldn't find acceptable gem Barber material. So I bought proofs instead. Five to seven years later, I was able to obtain the Dime, Quarter and Half in gem. Out went the proofs. The fact that I had them for between eight and fifteen years, and actually lost money selling the PFs (and they were all solid for the grade) was all the more reason to get rid of them.

As Bill Jones said, upgrades are another reason why I'll get rid of a coin. When I acquired an 1835 1/2 Cent in a PC 5 RB OGH, I sold the one I had in PC 4 BN. Likewise, when I bought an 1850 Large Cent in PC 5 RB, the one I had in PC 5 BN was sold.

terribleredmonster · June 10, 2013 5:22PM

Not to be a drag folks, but soon enough we will all be dead and for most of us there is no one close that cares nearly so much for these inanimate objects as we do. They will find their ways into the hands of other collectors one way or another. You can choose to help them on their journey or to try to arrest their progress as long as possible (or something in between, of course).

I'll offer you an example to illustrate my meaning clearly. My grandfather was a bit of a collector of coins. I say "a bit of a collector" because his accumulation had just enough coherence and direction that you couldn't quite rightly call it a hoard. About 60% of his collection was pulled from circulation starting in his youth (c. 1924). A lot of the items he added later in life were U.S. Mint and GSA procurements. He had a respectable allotment of key dates in the 20th century series and a few really flashy type coins. Beyond this it was pound after pound of homogenous silver and literal buckets of wheats, late date IHCs, and low grade buffs.

My granddad died in 1986, and though he left no specific provision regarding his collection the family quickly determined what should be done. A few choice pieces would be pulled and distributed amongst the brothers and sisters, aunts and uncles, nieces and nephews, and bountiful cousins while the rest would be sold at once to address certain practical matters. There was a day when a large portion of the family came together to pick through what I can only remember as a MASSIVE amount of coins. I don't remember it clearly (I was less than eight years old at the time), but I do have the recollection that the coins only represented an incidental distraction to be addressed as small talk amongst a lot of conversation about grandpa.

Nobody knew the slightest darned thing about coins. That I remember well, because everybody kept saying so.

My grandmother watched my grandfather examine his pocket change every night before bed for 45 years. She and all seven of their children - and all fourteen of theirs - knew that he had a collection that he devoted considerable time to. Thinking on this notion later in life I was baffled as to how one's family could remain utterly uninformed about something important to him. Then I became a collector myself, and then a significant other, and I had to chuckle to myself when I realized the simple truth. Of course he talked about his collection to my grandmother the same way I talk about mine with my wife. Of course my grandmother listened to him talk about it exactly like my wife listens to me talk about my collection. EXACTLY the same way. A valiant effort, and genuine too, but that faraway look can only be a few minutes away.

At any rate, to the point, in the end the collection was sold and it seems to me now that it went off without a hitch. Everybody was gifted a single piece for the sake of memory - even us young ones. I've thought about this quite a bit off and on over the years because I know it's one of the reasons that I do some of the things I do. I can't speak for the adults - my grandfather's kids - because I never asked any of them, but most of the kids still have what they were given. None of the items were particularly valuable, but I like to think that fact has a little less to do with retention than sentimentality. Out of all of us, however, I'm the only one that has ever collected coins. Moreover, I'm reasonably sure I'm the only one that bothered to find out what it was that I have.

None of this means that my cousins didn't love my grandfather as much as I did, of course. It means something much more specific that is very important for people like us to understand: coins only speak to select people. Most people will never see in them or in this hobby anything close to what you do. They aren't deficient and we aren't superior - we're just different.

So, in context of all of this, well, rambling, buy carefully. Sell easily. If you happen to be one of the few that gets to share this pursuit with loved ones, enjoy it all the more.

ambro51 · June 10, 2013 9:33PM

I don't like to sell coins. BUT when I see a piece in an upcoming auction I want...the mind develops a game plan that needs to be followed to make it happen. My goal is the Vermont Coppers. When a Ryder 15 recently came up for sale....I didn't hesitate bidding for one second. Yes it was Harley money but I did have a few coins which frankly I lost interest in. Why would I keep coins I really didn't care much about when selling them allowed me to obtain a major key? The moment this became crystal clear, the moment I realized that I Needed to go for the Ryder 15 was when I wanted to read more on the variety... I had only the Ford Catalog to consult. It all goes back to how far, and exactly how you do it... The stretch to afford a Great Coin.

joeykoins · June 11, 2013 12:35AM

<< Yes, I have that problem. But, my wife does not!

bob

>>

Yes,I understand where your coming from. I too had a difficult time parting with my babies. but when I did, I made a substantial profit doing so. The only thing I really regret is when I sold most of my silver at 21$ an ounce,I should of waited a tad longer when silver doubled that amount about 4or5 months later! It's o.k. though, I bought most of my silver when it was only 7$ an ounce.

TwoSides2aCoin · June 11, 2013 1:17AM

A man came into the shop yesterday needing money. He had 4 raggedy Japanese 50 Sen from his dad that were WW2 era currency. I showed him IN THE BOOK that the value of them was about $.25 each and that I would sell him four for a dollar. He said, "Well I will just keep them". And I said, "Here are some U.S. Issued notes to go with them. I will sell them to you 4 for a dollar". His were Japanese issued, mine were U.S. Issued that said Japanese Government.

He looked at me funny and asked " Really ? " ..so I smiled and said, "Look man, your dad gave them to you" Nothing has more value than SENtimental value.

I'm sure he didn't get the pun. I started laughing and handed him the U.S. issued notes and paid him to leave. I told him... "you owe me a dollar and seven cents for tax".

I cannot answer the THREAD question. I am always left baffled with other's ponderances.

Baley · June 11, 2013 1:27AM

<< If you have a clear collecting goal and direction, and a not unlimited budget, then I would think it would be easy to identify the coins that fit the goal, to ID the ones that don't, and it would beneficial to sell the ones that don't fit to fund coins you still need. >>

That sounds fine, except it's not so simple to sell them for what they're worth. Apparently, you leave a lot of money on the table if you don't get it into a PCGS holder with a CAC sticker before selling it. We've heard the stories again and again, there's even a thread about "best raw purchases" in which the seller accepted $6 or $20 or some other low number, and then the buyer turned it into hundreds or thousands by getting it certified and then marketing it for huge profit.

It's not fun to be on the other end of someone's "great score story", so many of us leave our great coins locked away until "later" when we'll have the time and inclination to go through all the motions necessary to get some of that appreciation locked in before trying to sell

Why is it I have such a hard time........

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