opportunity to buy a collection
tcollects
Posts: 1,081 ✭✭✭✭✭
I just decided to auction most of my coins in Long Beach, and whaddya know, a collecting buddy decided to sell his 50-year collection in a European auction and offered me first crack at it. I'm torn, because I psychologically am enjoying not having a collection anymore, nothing to worry about, etc., but I love my friend's collection so much I feel compelled to take the opportunity, every coin is special, some with historical provenance. The price is probably on the low side of fair, and I wouldn't miss the money. I even got the wife's blessing, which is rare for me, though based on the ecstatic glimmer in her eye, I'm sure she already has a horse picked out. I think of that saying "sometimes the only thing rarer than the coin is the opportunity to buy it." I can't pass this by, can I? Curious to hear wise words from smarter collectors than me. Thanks.
Comments
It’s hard to know without knowing more about the coins.
The collecting world is moving to fewer, higher graded coins. Type vs date collecting.
My own opinion is that high-end type coins will do better in the future whereas a date run of average quality coins will languish.
Of course, you gotta buy what you like, but it sounds like an interesting opportunity, especially with the wife’s blessing. And get her the horse too!
I'm afraid not.
If it's a newer collecting area for you, I would say, "Buy It". You said the coins are historically significant and it would provide an opportunity to learn more about a series and period of history (I'm a sucker for this). Plus, your friend may be happy that the collection is going to someone who will truly appreciate them.
Just my thoughts. Your mileage may vary.
I would not go into a new area with the thought of resale. Even if that is not contemplated, what will be the eventual disposition. Could your funds be used elsewhere?
DPOTD
As above (Pruebas), I too think that higher grade or aesthetically great pieces will do well and lesser graded coins of even scarcer dates not as well. And this comes from a habitual date collector brought up on filling Whitman coin books. Still, I will stretch for individually superior coins.
Well, just Love coins, period.
If I read the OP correctly, you are being offered the chance to cherry pick the collection before it gets sold in a European auction. Wow, what an opportunity -- don't pass this up!
Well, it didn't take much for you guys to talk me into it. I went ahead and bought the whole thing, first time in my 40 years of collecting I've bought another collector's collection. I've got to drive half way across Europe to pick it up, so I'll share some pics when I get it. I'm really happy and excited. Thanks everyone 👍
Congrats! Thanks for bringing us along!
8 Reales Madness Collection
Looking forward to seeing what you got!
My current "Box of 20"
Yeah, good to remember that every coin you buy costs twice what you paid for it. Looking forward to the pics of the coins (and the horse).
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
My own opinion is that high-end type coins will do better in the future whereas a date run of average quality coins will languish.
Absolutely! It is already happening for the past decade. But on the other hand, if we collect for monetary appreciation only, some or a lot of the fun is lost for some. Choose your side (for everyone) and do not regret!
myEbay
DPOTD 3
Very excited to see what you come back with!
Well, it took a while, but here's what I got - best or close to best for Russian 1758-1810 5k and Siberian 1766-1781 10k, plus a ton of marked up books and catalogs...
Wow! I don't know anything about them, but it looks like you will be having fun with it for a long time.
Good you didn't let is pass by.
But what about the horse???
Man, that is a LOT of copper! Congrats, looks like a nice collection.
8 Reales Madness Collection
Very cool, I hope you'll post some more photos later.
Dang! Are many of the 5 Kopecks the better Mints?
I think you absolutely made the right call here. Congratulations!
Kind regards,
George
Wow - not what I was expecting! Looking forward to getting some more pictures and details on what you have - this is an area I know nothing about.
My current "Box of 20"
I approve, since I have collected those since the late Soviet era - to the point of smuggling some out of the USSR.
Funny you should mention that! Ukraine also had the strict rules. When I was there I bought about a dozen from a street vendor who told me I would be fine to take them with me. After I bought them I did a little inquiring and found it was not legal to take them out of the country. As we are going to the airport the lady over our group kept hounding me about them telling me she would keep them for me and send them to me when it was legal to do so. I politely decline several times(while in my mind yeah right...I would never see them). So I took my chances. I'm standing in line at security about 25 ft from the X-ray and get a bright idea. I took the big lump of copper out of my suitcase, put them in my camera bag and tossed my camera in my suitcase. When I stood up a security guard is standing there with his arms crossed just looking at me. Somehow I kept my cool in that oh sh*t moment and he didn't do any thing. When we get up to the x-ray I keep trying to not have to put my camera(LOL) through the X-ray saying several times film...film! Wasn't going to happen so I tossed it on the belt where it landed at the edge.
Well I made it through with nothing being said. During this time they were notorious for pulling people just before their flight and causing them to miss their flight. This would result in having to buy a crazy expensive ticket on the next available flight. This issue was easily pushed as most people including myself had a Visa that would expire. I sat in the corner of the airport bar constantly looking and expecting to be harassed or worse! I have never been more relieved from a wheels up moment as the plane lifted off the ground!
When I was there in 2001 they still were often in the Soviet mindset, having to have a visa to travel into the country etc. But I lived there in 2008-2009 and it was a LOT different - all the hassles of the past in immigration and customs were long gone. I never had to register addresses with the militsiya etc. The only hassle that still remained was the traffic police were still as corrupt as before. Got pulled over once in 2008 and another time in the summer of 2009 but the fine(bribe) was comparatively inexpensive so no gripes.
Numismatically I hauled in stuff for collectors there, hauled out stuff for myself that I bought in banks etc. Never had issues with customs, except once leaving Amsterdam on a flight to Kyiv.
I was there in Ukraine in 2003. The only bribery I ever experience was not in Ukraine, but Moscow. Had a nightmare getting registered 1 time in 2004!
Most of the dates/mints/major varieties are there and they're all very nice - is there anything rare you want to see? There's no duplication. I'll post a few of my favorites later. I'm very appreciative of the seller who gave me the opportunity to buy these. It took 50 years of diligent collecting to acquire them. I'd never be able to do it myself. His guiding principle was that first, the coin needs to look good, then it needs to be rare and/or in rare condition. Reminds me of Bob Simpson's approach in the Heritage video.
Not particularly. Sounds like quite the collection! The majority of these are usually EM's.
As important is probably your friends notes and research that was generated as he built this collection. Looking forward to enjoying your new acquisition. Peace Roy
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amazing score and well priced that you have equity at the moment…. do love anything under 1900
Congrats on the pick up!!
NFL: Buffalo Bills & Green Bay Packers
Here's a few rare ones...
1769 triple struck 50mm!
1767 St. Petersburg and Moscow
Here's another rare one...
Huge thanks to the collector for the opportunity to own these.
hard to find like this...
Overstruck over Ekaterina 10k?
Awesome coin.
8 Reales Madness Collection