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How many dealers "Collect" coins within their inventory?
ctf_error_coins
Posts: 15,433 ✭✭✭✭✭
I turned my whole personal collection into inventory awhile back.
That said, it seems that "My Collection" is larger than ever.
One example is when I had a personal collection, I had one eleven cent piece (cent struck on a struck dime). I now have 13 all different dates. Even tho they are all for sale, I have a nice "collection" of one of my favorite types of errors.
Here are a few .....
9
Comments
I think most major dealers probably consider any collection of theirs to be inventory that just hasn't had the right offer yet.
My 11c piece is one I ....wish.... I had kept.
My inventory has become very fluid this year. I think I have sold 4 or 5 eleven cent pieces and have probably bought back just as many.
What year?
IIRC, 1976. Looked a lot like yours. Got off CoinNet when I was in the shop.
$175
Was the coin dated 1976 or was that when you bought it?
I have not seen a 1976 eleven cent piece.
If I did, I would buy it instantly.
me too.
oh so close ........ I just got in a 1975
Good question.
I wonder how many dealers put their inventory in Registry Sets or add their pedigree to their inventory? For PCGS Coin Facts, adding to the Registry would be good for the photos.
Hopefully more dealers can answer.
Call out to the following and others.
There was an article in the May Numismatist showing an interview from 1990 with prominent and long time dealer Harry Forman where he discussed this subject (he passed away in 2008).
Here's a quote:
In his case he was a collector before he was a dealer, and I imagine most dealers were. Many dealers tend to not collect exactly what they sell, but things adjacent to it.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
I have a personal collection, But besides that, I also keep a piece or two out of the inventory that comes in. Sometimes for a bit, sometimes longer, Ill change it out with something else that I like better comes thru. I try not too hold too much out of so called business inventory because it kills the bottom line.
But I will tell you this over the years, the coins I have kept for a time of the so called business inventory, I am always good in those usually when the time comes to sell them or move em out, because I bought them at a better price, unlike the stuff I had to chase at auction and pay high extreme retail to get.
Just like in the current legend auction, there is a coin I really would like to have, its already skyhigh. two years ago, I wouldn't have cared, and would have chased it regardless, but today after taking it up the arse on a few pieces and knowing when the time comes to sell it down the road , it having to go back into auction to sell it and the auction company making all the money, I just as well pass.
unfortunate, but I don't have unlimited funds like several.
I held out the best for a few years, but I finnally decided I was a business and put it All In.
This really increased my bottom line, freed up capital to buy new inventory and expand.
Items in a dealer's inventory are part of his personal collection when he has the items priced so high that no one will buy them.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
I became a dealer to help my collection along. If I buy something I want for my collection...that's where it goes. Been this way for 25 years and nothing has changed!
I only collect... would have an anxiety attack if I had to sell any of my collection....
Cheers, RickO
Everything is for sale.
Every once in a while I hold something back for myself, but I know that I can not do it very often because it effects the operation of the business. In a way my entire inventory is my collection and there is a revolving door where stuff sells and goes out and new stuff is bought and comes in. Although there is a chunk of the inventory that I would in no way bought for my own personal collection.
I used to rent a table at a few smaller shows about fifteen years ago, and at the time, would display a few really nice pieces in my 'collection' that I really didn't have much interest in selling save for wind in the price or a nice trade or partial trade. Out of a few dozen shows, I had never sold a single one of my 'pets' to anyone other than dealers who either would move right on past or not bat an eye and buy or offer a fair trade off. I found-at least at that time, around 2000's-if they liked something, dealers would pay up or make a good offer while almost no one else would. Not hitting those shows is one thing I really miss Now that I live abroad. Never made the proverbial killing, but was able to pay expenses, have a great dinner afterwords, and usually make a few bucks doing something we enjoyed.
True, but i consider my inventory to be my collection. Even if I hold a coin for a week or two, it is cool to have.
I know dealers that hit a homerun, buying coins at a fraction of what they end up being worth, I ask them if they are selling, one says he put it in his private collection. Giving long times a chance to elapse changes the perception that the dealer took advantage of the seller.
I have been working on Oregon half set but they keep selling.
Can’t afford collecting. I guess I could if state quarters from change.
I have always wanted a super rare off center bison, so I just added one to my "collection" .....
I collect Conder tokens and penny exonumia which I do not sell. I also have Indian and Lincoln cent collections and when I became a dealer, I made a "pact" with myself that I would only keep one of each date (aside from specific varieties and errors) and if I found another one I really liked, the old one would have to go. Even though it's sometimes hard to part with particular pieces, I have always kept to that pact.
https://thepennylady.com/
Jeff Shevlin and Mike Byers are the main dealers I think of having a collection because they treat some coins in their inventory as part of their collection, by having their pedigree on their inserts.
Having a registry set or some other way to showcase the collection can help too since it shows a desire to collect and maintain / complete a collection. I love it when @ThePennyLady posts a collection of coins assembled with a theme, with time and care.
@ErrorsOnCoins just wanted to say I love your double denomination date set! Enjoy completing it
@ErrorsOnCoins
If you have time, could you briefly explain how these '11 cent' pieces are made?
Thanks
Boston
I see that it is a cent struck on a struck dime, but how does that occur at the Mint?
And are they found in circulation or smuggled out of the Mint?
Thanks
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Boston. These coins are not smuggled out of the mint. The eleven cent piece is easy to explain.
The mint has huge coin bins where they dump the coins and planchets in. The bins sometimes have coins get stuck in them. So say a group of dimes is dumped into a bin and then dumped into a sorting machine. A dime or two may get stuck in the bin. Then say they need the bin to dump a bunch of cent planchets into the bin to bring to the cent presses for coining. When the cent planchets are dumped into the bin with the stuck dimes, the force, forces the stuck dimes to come loose with the cent planchets which go into the coining press.
Thabnks @ErrorsOnCoins
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
I put all my PCGS inventory into Registry Sets on PCGS.com but it is all for sale at the right price. A lot of it I have listed on our website as well ... I seldom get an inquiry via PCGS although I know some customers do look at both sites.
Kind regards,
George
I don't consider my inventory to be my collection - I keep 'em in
different areas, too.
In the next few years, I plan on slabbing my personal 'accumulation'.
( have about 75 certified from 20+ years ago, and have hundreds
more to write up when I don't feel so lazy)
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
That's great! Can you post the other 9? It would be great to see them all together!
Would be nice to see different dates 11 cents together.
It's great that you're slabbing them. Can't wait to see the presentation of your personal collection. Make sure to get TrueViews
This.
Some of my things aren't for sale, except maybe for life changing money.
There are 5 eleven cent pieces posted above, I will see if I can locate the other 8 photos as they are in different folders.
1980 ....