To piggyback on @Hallco thread - Buying damaged/impaired coins in general...
Lazybones
Posts: 1,505 ✭✭✭✭✭
I have been collecting for almost sixty years an I have always held true to this one belief; We ALL had to start somewhere.
There are many collectors who feel that purchasing impaired coins is a waste of money. Well, there was a time when many of us had to settle for a filler in place of the dream coin. I did it many years ago. As time passed, it came about that I was able to afford the same coins only in nicer straight grade condition.
Today, I pretty much stick to pre-1933 gold; something that took many years to work up to, and I happily made some YN's days with impaired coins at affordable prices and they were thrilled to have them. As they grow with the hobby, they in turn will hopefully do the same.
I think that speaks volumes of the diversity and thrill of this hobby. There IS something for EVERYONE.
What say you? Do impaired commons have a rightful place in this hobby?
We now return you to our regularly scheduled zaniness.
USAF (Ret) 1974 - 1994 - The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. Remembering RickO, a brother in arms.
Comments
Absolutely. I think it's presumptuous to tell people who can't afford better coins that they're wasting their money collecting what they can.
While I agree with the sentiment, I think there are plenty of inexpensive, non-impaired coins out there that can be collected by a young numismatist or someone who doesn't have a lot of money to spend. Eventually, most collectors sell coins in their collection, to upgrade or move on to something else, or for some other reason. I think the collector will lose money on impaired common coins and that will give them a negative opinion of the hobby. There are just too many quality coins out there to waste money on damaged coins.
Sure there are. But what if you can't afford the one you want without an impairment?
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End Systemic Elitism - It Takes All of Us
ANA LM, LSCC, EAC, FUN
Agreed. Early dollars are a good example.
Learn to want something else. Spend your money wisely.
I agree with what you have to say. Just joined this forum about two weeks ago and the notion that impaired coins aren't worth buying seems to be much stronger here than anywhere else.
Especially in the case of most YN's and low income collectors, problem coins are almost unavoidable if you want to put something like a type set together. I remember buying a lot of holed large cents for $2 apiece when I was still relatively new. It was one of the coolest experiences for me up to that point in numismatics.
I hate to disenfranchise people but many of the people making the "impaired is worthless" argument seem to be well established numismatists with large budgets for coins. While for them that advice works, it doesn't really do much for YN's who spend $30 a month on coins.
The answer probably lies somewhere in the middle. When you are new to numismatics and aren't ready to drop loads of money into it, it's not a very bad idea to buy impaired coins as you discover what you like and want to specialize in. However as time goes on and your budget begins to grow into the $100+/coin range it's good to buy a problem-free coins. Really it's up to you how you want to collect. I will always cherish my holed (but with good details) draped bust coins.
My eBay page: https://www.ebay.com/usr/alvareznumismatics
Really? Sounds like fun.
On second thought, it sounds more like a way to turn prospective collectors away from coins. "Don't bother trying to collect what you like. Instead, learn to like what I think you should like."
I absolutely agree with you.
Today having good money isn't enough.
I want a Higley Copper but I can't afford one, impaired or otherwise. So I focus on things I can afford and learn to like collecting them.
Yes. I'm a broke YN. If I can't afford a straight grade coin, I'll settle for a impaired coin. I've got two that are borderline and I think can straight grade, I just can't justify the cost of resubmitting them. It's all in the eye of the beholder.
You shouldn't have force yourself to like other things to remain in ANY hobby. I know people who LOVE Scotch and people who hate it. Should those who hate it force themselves to drink it in hopes that they will eventually like it?
USAF (Ret) 1974 - 1994 - The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. Remembering RickO, a brother in arms.
I'm looking for a 1901-S quarter with a hole in it. I would prefer to buy it from someone who says holed coins aren't worth buying. But will consider all offers. This probably belongs on the BST but, imo, belongs here, too.
Opinions are like.... navels... Everybody has one... (well, I knew a guy that did not have a navel, but that was due to an operation). For those who consider coins an investment (speculation) or a business, buy quality coins. For those whom coins are a hobby, buy what you like and enjoy them. Spending disposable income should be enjoyable, whether it be on coins, food or other pleasures. Making it into a business or investment takes some of the fun out of a hobby.... Cheers, RickO
Numismatic equivalent to dog rescue.
Then find it a good home.
I am very budget conscious in 2021.
Still have been able to score some decent cherries and toners.
Having a great time picking, grading, flipping and recycling my modest budget.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
From my experience of about twenty years of collecting I've learned from reading about, talking about, selling coins and by buying them, that some of the advice I heard very early on would have been good to have been followed: "Buy the BEST that you can afford"... not the MOST ITEMS that you can buy at one time.
Learning from that experience I now look for eye appeal (in my opinion of course) and surface preservation over "meat on the bone" and in general enjoy the time that I spend with this hobby more as time goes by.