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Collecting and Hoarding.
keets
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Explain what you think the difference is between "Collecting" and "Hoarding" and when one might become the other if you don't think they are the same thing.
Al H.
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The difference in a word is "Direction".
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
Here's some impressive wheat cent hoarding by @compromonedas who was closing in on 2 million back in 2011.
https://forums.collectors.com/discussion/819143/my-wheat-cents-hoard
he selected each one of those individually
From my viewing of the show "Hoarders" it appears that some folks are unable to differentiate the two.
Collecting generally has a purpose. Hoarding probably doesn't.
Collecting usually has an end game (completion). Hoarding kind of doesn't.
Collecting is enjoyed by the genteel. Hoarding performed by the plebeian.
"Whenever someone uses the word 'hoarding' to describe reasonable 'saving' or 'savings', then you know that person wants to steal what you have." - attributed to Harry Browne.
had to look up plebeian before I could agree
AKA Pakasmom
In my mind the difference is in the recording, itemizing, organization- maybe the curation of the items being amassed or collected. A hoard is more like a 5 gallon water jug full of pennies and a collection is a Dansco album kinda thing.
Good question. In prior similar threads I have read great answers which I cannot recall.
For me hoarding implies a lack of control.
It seems to me these two things are defined/determined by the person seeing the objects, and not so much by the person doing the collecting/hoarding.
If you can remember what you have or have a list, I'd say you're a collector. If you can't remember what you have and have no inventory list, I'd say you're a hoarder.
"A dog breaks your heart only one time and that is when they pass on". Unknown
no what you are describing is full blown ocd
yes the observer needs to judge the hoarder/collector in order to boost their own self esteem.
But but , he is just a filthy hoarder , I'm a serious collector ,
ahh no son you are damn weirdo too . Slightly different kind of weirdo but certifiable just the same.
I mean the “collector” may not be likely to admit they have a hoard. And the hoarder may insist they have a collection. An objective outsider may be more suited to call the duck a duck.
in my experience those that you might think of hoarders probably started collecting in a small way then things went haywire and snowballed . Its a mental problem , like they hate the job or the wife so they keep buying those ridiculous baseball cards or elvis plates.
The other kind is the self anointed genius collector , they can never sell anything they bought wrong because they would have to admit to a mistake so they just keep going and stashing things they don't want to look at on the bottom of the heap . Then one day , because they never faced up to any mistakes the pile is as big as their whole house
L
I have observed others saying:
If you are acquiring as many as you can because it is truly rare it is collecting.
If you are acquiring as many as you can because you just must have as many as you can it is hoarding.
Edit to add:there are seemingly so many subtleties within the question in the OP. It is always fun to read through these threads.
Collect rare coins. Hoard bullion. Collect toward a goal. Hoard for a safety net. Sell the hoard to keep the collection intact.
@keets
If you add "as it pertains to coins" to the OP it really changes how I think of this. Anyone else?
Collecting means you actually looked at the coin before throwing it in with the rest of your stuff.
jedm wrote
In my mind the difference is in the recording, itemizing, organization- maybe the curation of the items being amassed or collected
I pretty much agree, though in the case of some very concise collections the itemization might be entirely mental, with little or no documentation. I'd add that the danger of a collection turning into a hoard mostly has to do with direction, intention, plan -- what organizing principle(s) determine what you acquire, what you don't, and what you dispose of? When there are answers to those questions, and those principles are generally honored, it's a collection.
Somewhere in neither camp there is what bullion stackers do, where it's not about the meaning or significance of any given piece, but the total amount, and its liquidity and divisibility, are the goal, and nothing is really pointless as long as it's made of the right material and came at a reasonable price.
Some one's hoarding can be some one's collection... At lest I know it's worth it's Weight in silver not all trash.
Hoard the keys.
I've met collectors who are very organized and refined. Met hoarders who weren't very organized or refined and vice versa. I think we know it, when we see it.
``https://ebay.us/m/KxolR5
A collector is one who orders a coin through the mail. A hoarder is one who saves the box it came in.
A hoard in the numismatic sense is a whole bunch of the same thing. And it's relative to rarity.
So. For wheat cents it might be a million, but for 1898 ( or other random date) dollars a couple thousand might do it. For 1824 quarters a dozen would work, while for wa 1797 half dimes it might be 4 examples.
Liberty: Parent of Science & Industry
Another distinguishing quality is that the collecting hangs on only to those items that fulfills the purpose and is a step toward completion, hoarding can't let go of the surplus.
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.
I know a guy who has a dozen slabbed 1934-S Peace Dollars in various Circ grades - hoarder? Or investor?
Another has a 20 coin slab box of his fav slabbed classic commem issues, another 20 slab storage box of 20 slabbed cc issues, then finally a box of 20 slabbed USGTC. Not a bad idea.
Frankly if I can’t churn what inventory I have and make a decent profit there is no point having any more of it.
To the classic Misers (like Daniel Dancer), the Hoard was inviolate - it could not be touched, even in the face of death.
A true Miser could not collect coins in the sense that we do, because paying a premium (for anything) would be a silly waste. A true Miser might have recognized an old coin that was obtained in a normal commercial transaction.
It is subjective and a continuum. Was the Bass Collection a collection or a hoard? You could make a good argument either way.
If you collect Large Cents by Sheldon number, one example for each number, acquiring a handful of coins each year and selling the coins that you have upgraded to replace, it’s a collection. If you have 50 lbs of wheat cents in your basement, its a hoard. Many of us live somewhere in between.
most replies have tended to differentiate between "collection" and "hoard" which is OK, I had hoped to get a little insight and input about the state of mind that drives the activity: I think there's a bit of it in each of us. I know my collection can start to take on the personality of what I'd consider a hoard if I'm not careful.
discipline is my key.
The difference is that hoarding is keeping "many of the same thing" where collecting is keeping one of each.
Sadly, there are a lot of similarities between the two. One being, if you asked me to cull out my collection because its taking up too much space I would have a hard time trying to figure out what I like more, this one or that one. Just like a hoarder. And just like a hoarder, to me there all worth something therefore I will keep them all. And especially since I paid a premium on almost everthing. I recently thought about selling all my junk silver to invest in one special coin but, then I realized there really not junk and I'm a hoarder, lol.
I used to have a bunch of silver... dollars, halves, 1 oz rounds, etc... that I considered a "hoard" . No real direction and the only criterion for admission was just being silver.
Today, I get intermittent consulting work that I use to purchase type coins... so, I suppose one could make an argument that I "whored" them... ;-)
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
I collect a wide variety of coins, but have focused on 1950-1970 Cameo Proof And SMS coinage.
Why?
1. They remind me of collecting as a YN and doing so a little bit with my father (he ordered Proof Sets from the mint in the 1960's and I was mesmerized by proof Franklin and Kennedy half dollars);
2. Cameos from this era are outside of the norm (most are brilliant in appearance) and are very eye appealing, especially those few coins that also have attractive toning) and are "eye candy"; and
3. Even today, a collector can still find these coins in the wild and purchase them for modest money (though it takes a lot of time and effort to find them), giving a collector a chance of breaking even and maybe even making a profit when the coins are sold.
In viewing my collecting efforts after returning to the hobby as an adult, I exhibit a tendency to hoard (how many Cameos do I need?); and I exhibit a tendency to collect (there is organization, thought, structure, purpose and an end game behind my Cameo purchases).
Both...I both collect and hoard my credit card debt...paper tigers are the last to get an envelope
I believe true hoarding isn't exclusive to any one item such as coins. Hoarding is OCD out of control. If you collect nothing but toy trains, you are not a hoarder. If you collect trains, magazines, radios, appliances, etc. regardless of condition, you're a hoarder. A hoard doesn't create the person, it's the other way around.
"A dog breaks your heart only one time and that is when they pass on". Unknown
someone finally said it, thanks, Mike.
I had an uncle who collected/hoarded Morgans. There are no dealers here, he bought them mostly from regular people. He bought all that were offered, he didn't care if he had two 21's or 200. I think of that as hoarding, but he didn't just want them for silver, he liked Morgans. He didn't stack rounds or bars or ASEs, just bought Morgans.
Mike for the point! Scores
Hoarding ...
My Coin Blog
My Toned Lincoln Registry Set
The DSM 5 definition of hoarding, as a mental health disorder, includes:
Persistent difficulty discarding or parting with possessions, regardless of their actual value.
This difficulty is due to a perceived need to save the items and to distress associated with discarding them.
The difficulty discarding possessions results in the accumulation of possessions that congest and clutter active living areas and substantially compromises their intended use. If living areas are uncluttered, it is only because of the interventions of third parties (e.g., family members, cleaners, authorities).
The hoarding causes clinically significant distress or impairment in social, occupational, or other important areas of functioning (including maintaining a safe environment for self and others).
I think that must numismatists view coin "hoarding" differently, such as accumulating as many examples of a particular coin/variety as possible, perhaps to drive up the price of the item, if it is already perceived as scarce.
Buying massive quantities of copper pennies might not be "hoarding" if it is being done in anticipation of an increase in the price of copper. On the other hand, if the bins of coins are taking up the hallway and living area, rather than the garage, maybe it is hoarding (in the mental health sense?)
Still have this thread bookmarked.
Does collecting have a DSM classification?
When I amass a large quantity of coins Its COLLECTING
When YOU amass a large collection of coins its HOARDING.
In order to minimize your hoarding tendencies, all large collections of hoarded coins should be sent directly to me for dissemination. No handling fees will be applied but you must pay postage,
All those suffering from this disease and needing to feel release may P.M. me for a ship to address. Hurry and take advantage of this magnanimous offer before Dec 31, 2018.
Bob Sr CEO Fieldtechs
I have family members who are hoarders.
It is not fun and not safe, both for the hoarders and people who threaten their hoards.
The difference is the degree.
I had a great aunt and uncle that were the ultimate hoarders. I have no idea how they got around their house at night time as it was literally a maze. Robbers could have came in the house and said the heck with this, we will get lost and not be able to find our way out!!