My evolution as a collector
rhedden
Posts: 6,626 ✭✭✭✭✭
I thought the story of my evolution as a coin collector might be an interesting case study for the forum, especially since there may some people here who are on a similar path. If you're younger than me and you're seeing something familiar, maybe you can catch a glimpse of your future? If you're older than me and seeing something familiar, then please tell me where I'm going. 
1980s: Collected Lincolns and Jeffersons out of circulation. Teenager with no income.
1990s: College/grad. school years. Started buying lower-priced coins, and developed an interest in Morgan Dollars, especially PL and DMPL. Didn't really have the finances to go after a lot of PCGS material yet.
2000-2004: gradually phased out Morgans after getting frustrated with subtle differences in grading between non-PL, PL, and DMPL examples, and the huge price swings. Already recognized gradeflation was a problem for any grade-sensitive series. Moved on to circ. large cents and bust halves.
2005-2008: Saw early copper prices increasing to nosebleed levels. Bust halves are not that hard to locate. Moved into Seated H10c, 25c, and 50c. All of these sets are still active in 2021.
2006-2011: Purchased a set of mostly BU Barber dimes in PCGS 1989-era holders, and upgraded them. Built the set into a top-5 set in the Registry, only to realize by 2011 that demand was weak. Prices dropped steadily in lower MS grades. I got out before I got squashed. I kept a handful of key dates that have done well and offset my losses quite nicely.
2011-2017: I bought a lot of Type coins from many different series while working on Seated sets only. I bought too much Proof Type, which is languishing in value. It will have its day, though.
2017-2021: I got massively frustrated with incessant arguments over CAC vs. non CAC material. I trimmed my new coin purchases to Seated 25c and Seated H10c only, PCGS only. Got my Seated 25c set up to "Epic, but not close to Hansen" level. Virtually disappeared from this forum for a while due to a long hours devoted to a career transition.
2021: I have basically run out of Seated 25c to buy. Upgrading is very difficult and expensive. Added a couple of Seated 50c and a 1795 Flowing 50c recently because I just want some new coins. I think I might want to collect 1790s U.S. Type coins next.
Notice that there is no gold on the list. Is that where I'm going?
Comments
Good stuff there. I have a similar history and probably most here do too
While everyone will have different specifics, the general idea of moving around (growing/getting frustrated/finding new likes) is shared by many. You’ve had an eventful journey and there is still more excitement to come.
1982 Graduated high school. Had a Dansco Lincoln album that I started as a kid with help from my dad. Had some foreign coins, notes, not much else, no money. My prize was a BU 1909 VDB Lincoln!
Lost my father in 1987. He was a collector of coin, notes, stamps and was quite active with it. I always remember him working on something for his collections. After I lost him I lost interest in coins for about 20 years.
In 2006 my coworker was showing me his Washington quarter registry set; I was intrigued but knew nothing about PCGS or TPG. This however, started a smoldering fire and I started to buy various type raw, graded, silver, gold but had no direction and got bored with it so I sold off most except my 1853-o quarter; my first seated purchase. I think my boredom was brought on by spending money on coins I didn't know much about in understanding the particular series while overpaying for problem raw stuff trying to develop my eye for originality and grading.
2008 decided to pursue a series I liked and decided on seated quarters. Although I still have many holes to fill l think I've done alright. Only time will tell. Trying to stay disciplined and stick to the seated quarter series and not stray working on my registry set.
2015 found a partial Barber dime set in the trash that contained 26 AG/G dimes with mostly original surfaces and some color. It motivated me to complete the Whitman book which I have done except I still need a lowball 95-o. Now I have a Barber itch to scratch!
2019 bought a partial set of Barber quarters averaging VF30. Upgraded a few, filled in a few holes, have a complete set sans the Big3. I am waiting for a winning lottery ticket to purchase the remaining Big3 of the series. Barber quarters are much easier to finance than seated; especially at the 30 grade level.
2021 still filling holes in my seated quarter series trying to keep up with Rhedden!
Since I think I'm younger than you I cannot tell you where you're going either.
Freddie
I graduated high school in 1991 - exactly 100 years after the last Seated Quarter was produced!
Freddie and I definitely have the Seated Quarter obsession in common. We're probably trying to upgrade all of the same dates. Shhh, don't tell him which ones I still need.
I think the story holds some common threads, how our journey seemingly sometimes to goes from serious focus to meandering strolls ... and although I am not sure where you are headed next, I hope the journey is as great as the destination.
When I came back this time (a little over a year ago) after a 7+ year hiatus, where I really did put everything away (including the books) and walked away for a long while, I dabbled here and there. Some Gem Washington's and Jefferson's, a few early Seated and Bust pieces, a few Commemoratives. No real focus, just seeing if anything would really drive me forward again. It has in the past, and I figured it would. I have taken several breaks over the years for life, work, career and family ... and the passion, once renewed, always comes back stronger it seems.
And then it happened, two new pursuits at the same time. Through some new friends, and old books, and lots of looks ... I found a series and a type and look that excited me again, as well as a new pursuit and passion of something related to coins.
Almost everything I look at today, other than a side-eye squirrel look for incomplete parts of former sets I still own, and just nice looking type, is focused on Bust Halves and Large-size US Currency.
We'll see where that leads me, but so far it's been a fun and very interesting exploration into new areas.
Good luck on your next chapter!
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Most of us travel a similar path... the pot holes and coins may vary, but the journey is similar. The destination varies more widely.... for some it is registry sets, for others (such as myself), it is more random acquisitions for design, quality, history or scarcity. There should be a section included for building a numismatic library also - another journey marked by visits without a specific destination. Cheers, RickO
Too many steps, upgrades, and focus changes to efficiently get to your destination. Quality over quantity, get to gold as quickly as possible, the allure of the yellow metal is widespread.
I've been pretty much the same in the hobby since I started. I'm a collector of opportunity, not so much hunting for specific things. A wide variety of things to look at is what interests me.
I collect what catches my eye and fits into the (admittedly small) price window I've set for myself for my third string hobby.
Getting something I need in circulation is such a better feeling than just buying it. I try to limit my purchases to stuff I don't have any real expectations of finding in the wild.
I do date/mintmark sets for 20th and 21st century and hybrid type set/full run earlier. Since I know I'll never be willing to spend the money to complete those sets I just pick up what I like, that fits my aforementioned limit and has the look I prefer.
Luckily for me I prefer circulated stuff although my collection includes mint state and even proofs.
I actually prefer world coins. Much more variety. Other than our quarters and dollars all of our stuff is pretty much the same for long stretches of time.
I don’t have as many steps as you but some similarities.
Returned to collecting and did a set of Circ CC morgans;
That led to start a slabbed type set, got bored when all that was left was either really expensive coins or coins that I had no interest in. Also, the business aspect of collecting, CAC, auction fees, being told the coins I bought weren’t up to snuff, “tuition costs” also started to weigh on me. So moved on and sold all of it except my 1 favorite coin. Which buy the way was great learning and liberating.
From there, dabbled in bullion, just started picking up different type of silver bars. It scratched the collecting itch with little downside. Those have all either been sold with the run up or being sold very soon.
That leaves me with the Civil War Token path which I started a while back , and which I still love, although it is getting pricier and ...
The inevitable gold path...which I also started a while ago, still love, but the remaining coins are too pricey at this time.
So my prediction for you would be:
Gold - it will happen at some time
Exonumia - you should consider it
And My thoughts on my future path or potentially yours
Foreign coins - although I may be late to the game, so not sure I will jump in
Unique or very special coins...historically significant , exclusive and impressive (like the gold $10 that people just bought on this board) or coins with great provenance. I haven’t gone down this path yet myself, but consider it often. I am not sure I am ready to have just a few coins in my collection and purchases spread out, but do think I may end up there.
Many similarities for me. Biggest differences is that I did not collect coins as a kid but found coins when I got interested in bullion in my early 20s. Also, my collecting has led me to almost exclusively gold coins.
I'd also argue our quarters are pretty much the same. Too many design changes per year equates to all the different designs being the same to me as nothing really stands out anymore.
I collected Lincoln cents, Roosevelt and Mercury dimes when i was about 8 - 10 years old. I was born in 1963 which was a time when you could find in coins in circulation or buy from local B&M shops. I then did nothing till 2008 when the financial crisis caused me look again at coins as a store of value.
I got lucky and teamed up with a good dealer (Doug Winter) who help me focus my attention on early quarter eagles. I had the income fortunately to purse the collection and found out i like analyzing coins, competing for acquisition and all the associated planning. I don't know where i will end up. I have strayed occasionally but nothing serious. I expect to complete my set in the next few years or so.
1960s – Huge interest in Indian Cents, lesser interests in type coins, including gold. Finally completed the Indian Cent collection in Fine or better. Finished the 12 piece gold type set. The Three Dollar Gold was hardest to find, got lucky on the Type II gold dollar. Earned money from my father working in his business plus financial incentives from my parents for getting good grades in school.
1970s – Lost my shirt on Indian Cent collection when I sold it. The market was in the tank for them. Continued to work on the type set. I got totally hooked on early type coins when I acquired this 1805 Dime. Collecting went hold when spent a year earning an MBA.
1980s – Moved to Boston area in 1979. Discovered the Worthy Coin Shop Bid Wall and JJ Teaparty. Salary kept increasing, type set moved along. Developed an interest in political items with 19th century tokens, medalets and medals plus 20th century political buttons.
1856 James "Buck - Cannon" medalet
1990s – Type set continued. A 1792 Half Disme was a big acquisition. Became a dealer in the middle of the decade. Traded a lot of coins. It was easy to upgrade because I had ready outlets for all of my duplicates from upgrades.
Early 2000s – Continued as a dealer, moved to Florida and retired. Financial situation set. Continued to work on type set.
2010s – Completed type set began to work on sets of interest such as Classic Head Gold and a date set of early dollars.
The "golden spike" - An 1796 No Stars Quarter Eagle completed my type set.
Mid 2010s to present – No long buy expensive U.S. coins because of CAC and grading issues. Moved on to coins of the British kings with a huge emphasis on hammered British coins. Now collecting the Imperial Roman emperors.
Edward III (Ruled 1327 - 1377) Half Noble - value 40 pence
Denarius of Caesar Augustus (Ruled 27 BC to 14 AD)
As you can see, it's been quite a collecting journey.
Did Ambio's 2009 Barber Dime book inspire you? Are you interested in selling any remaining in CACs?
The darkside is calling ... collect me, collect me.
I consider the story of the OP relatively typical in the sense that I would describe each change as progressing "upwards". That's what I have done where I now almost exclusively buy from one broader series, also "dark side".
I think a lot of us collect coins as kids and teenagers, maybe into our early 20's. I did the Whitman folders with pennies, nickels and dimes. We had a neighbor that encouraged us kids to collect and he would occasionally give away a coin or two to encourage us. There were some old coins handed down in the family which also fascinated me. Then marriage, a son and the career building years followed. In my case collecting was left behind until age 60 approached. With more income and the advent of slabbed coins and registry sets it was a new world which I saw as very positive. (Not everyone agrees with this opinion!) Today the registry sets drive a lot of my collecting efforts with both coins and tokens. The Everyman sets got me hooked along with Carson City coins and, recently, Half Eagles. I also enjoy the comradery with the others in our hobby.
@rhedden - you and I are of a very similar age. All I can tell you is I went from jeffs as a kid to morgans/type to gold dollars with some type thrown in. So maybe gold is in your future… lol
TurtleCat Gold Dollars
This!
I love history, especially American History! Anything cool with a good story fits here! DCW???
Great insight as to how different collections develop and why. This post should be required reading for newer collectors, and those who feel their collections are getting stale or directionless.
I don't have anything as specific as others, but I do know that my eye has developed (a lot) and I'm much more particular about coins I buy.
One of my early sets, Seated Dimes, was adjusted a long time ago - I don't want to commit that amount of $ to the whole series - there's too many other things I like - so I'm just going up to the 1860-O. I have 4 coins to go-tough ones- but eventually achievable.
Franklins-I'm putting together a registry set for my in-laws (great people) in MS-65. It takes a lot of looking even though you could complete the set in a day going strictly by the label and buying on-line. A nice set takes a lot more effort than that.
I've also gravitated to currency a bit. I have 5-6 notes to go for a fractional currency type set. I also have an obsolete bank note set - 1 from each state that existed at the time - with the red overprint. (Grading currency is a different ballgame as well)
And I always like Type coins-especially mid-grade seated and nicer 20th C. stuff.
The biggest developments/adjustments have been having a more experienced eye, being much more choosy, and having an increased appreciation for original and/or nice surfaces. This forum has has a LOT to do with all of those things.