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How do you handle your duplicates to free up capital?
NorthStar
Posts: 85 ✭✭✭
Ok...
This newer member has a question that most collectors have encountered. I have two graded examples of a key date coin. When you decide which coin to keep for your collection, what do you base your decision on?
- The grade?
- Eye appeal?
- Condition census?
*Plastic?
*Rarity?
Please chime in as I seek counsel from the experienced members. Like most, I only have so much discretionary income to allocate to our hobby. And at times...a coin has to go.
Thanks,
NorthStar
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I keep anything sentimental or with outstanding eye appeal. Also consider how hard it would be to replace the coin. It’s easy to replace a common Morgan in MS63, but often not easy to replace a R6+ Civil War Token. Finally consider how much capital you need and what each coin is likely to bring.
Eye Appeal
This reads to be more anecdotal than hypothetical in nature. Can you post pictures of both of them?
Founder- Peak Rarities
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I give my duplicates to my girlfriend. She is the only woman I have ever met that would prefer a rare coin over a bunch of flowers or even jewelry.
But to answer your question, I would take all things into consideration. 90% of my collection is PCGS graded, so plastic isn't really an issue. Eye appeal is probably the highest priority, rarity second. Since you already have two coins, it probably wouldn't be too hard to replace if you needed to do so.
Dwayne F. Sessom
Ebay ID: V-Nickel-Coins
Ah yes...
@DeplorableDan has ferreted me out. I would post pictures, but they happen to be from the foreign desk. I stand corrected and was wondering out loud what to do.
Thanks,
NorthStar
I rarely sell any coins, and then it is usually gold bullion. Each collector will prioritize their decision based on personal preferences. For me, it would be rarity then eye appeal. If it were a coin passed down, that would take priority over both the previous categories (I have some that my Dad had). Cheers, RickO
Ahh I see, in that case I concur with the others. there are two main factors to consider, but it comes down to your personal preference as far as which one is more important to you.
1.Eye appeal
2. Degree of difficulty to replace (rarity)
Founder- Peak Rarities
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I end up keeping too much. The best stuff sells the quickest and for the most money.
The junk is harder to sell and for less.
So far this year I’ve sold about $400 in “junk” on two occasion at the flea Mkt. A few Morgan’s, some year sets, and xf NGC 28-S peace.
I’ve definitely regretted selling the good stuff in the past. Hard to replace or impossible, and much more expensive now.
If the coin is hard to replace I keep it and save to buy the next coin.
If the coin is common I keep it and save to buy the next coin.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
My main interest is in collecting Lincoln Cents. I have ended up with some duplicates in my graded collection, and for now they are in their own slab box. The value is not large, so I just hold on to them. Right now I have 15 such coins out of a collection of some 336 coins.
OK...if you'll indulge me one more time here's the scenario:
One of the two coins was conserved and now resides within the condition census. It is, however, without character and originality. Its sibling is outside the census but possesses more originality (lower grade). Thats it in a nutshell.
Thanks,
NorthStar
I keep what I enjoy owning, which is complicated, but eye appeal is prominent. For example I own two proof Morgans in my proof type set. One is a 66 CAC, the other is a 63 CAM not stickered. I keep thinking I should sell the 63 but I just love the look of the 63. If you put a glass on it, you can see some light hairlines, but without a glass it's really stunning. I may sell the 63 one day, but I think I'll wait until I really need the dough or run out of storage space.
Keep the lower grade that has original surfaces and is of quality for the grade.
"Got a flaming heart, can't get my fill"
Here’s my situation, in case it helps at all. 3 1943-D Toned Mercs.
Even though the last coin is in higher grade than one of the examples I will keep, that example will be sold. All are fantastic toners but two are just better than the last one.
67+FB
67FB
67+FB
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Bang for the buck.
If I have duplicates, I keep the one that I would buy at current prices if I had neither.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I would keep the higher graded one, if it was technically superior and, if the eye appeal was good. .
Otherwise, I'd sell both and buy another example of the higher graded one that pleases you.
Then, use the remainder of the money to purchase whatever else you'd like.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
That would be an easy call for me. I'd keep the lower grade coin with more originality and sell the conserved example, that lacks character and originality. The added bonus to that option would (presumably) be getting more money that I could use for other coins.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
If he already has two, why would rarity come into play?
Well, being that they are the same coin I guess the rarity is less of a factor, but my comment was more of a generalization when comparing any two coins that one is considering selling, not necessarily just duplicates.
With that being said, "degree of difficulty to replace" can still be applied to two different coins of the same issue. Say for instance that I have one 1907 NM Indian $10 in ms64 with spectacular eye appeal, and its in the top 10% of its grade, that I paid 64 money for. I also have one very average ms65 that I paid 65 money for, that doesn't look much better than the 64. I would sell the average 65, not the kickass 64
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This has been my approach. Is this coin worth more to other people than it is to me? If so, then sell it.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
Pretty simple decision for me. I only have duplicates after I upgrade a coin in my collection. For a coin to be considered an “upgrade” it must have better eye appeal and a higher grade for me to purchase it. Then, after I find a coin that meets that criteria, and only after I receive it - I sell the lower graded duplicate. The upgrade is always better than the current, otherwise I wouldn’t purchase it.
Thanks everybody for the perspective. I understand that we all have different numismatic goals and budgets.
The real heartbreak is the conserved coin was purchased raw and the TPG would not of straight grade it without the conservation. I was left between a rock and a hard place. Technically all there, but...
The lower graded example was purchased graded.
Thanks again.
NorthStar
The "which would you keep" question involving specific coins comes up here from time to time. If you can post pictures, you'll get a lot more insight as to why people like a specific coin than you are getting by asking a generalized question.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
What if there were only 2?
I’m always upgrading my sets, and as a result I end up with a few dups. I'll see a coin that I believe is a bit nicer than my current example. I'll buy the coin, and then compare the two coins side-by-side. Sometimes it's an upgrade, sometime it's not. I'll always keep the more original looking coin, regardless of the grade. For example, I recently 'upgraded' my 1897-S PCGS 35 Barber quarter with a PCGS VF20 example. Again, for me, it's all about originality. Once I have 5 or 6 extras, I'll resell them (usually on eBay).
Dave
I would put the two side by side and keep the one that made me happier to look at.
A little different in the same vein.
I put them side by side and ask myself if they were both offered at the same price which would I buy?
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
I started a set of Late Date Large Cents by Newcomb number strictly because I wanted a place to keep my duplicates. I have a couple of space fillers...1841, 1844 and 1845 that I plan on upgrading to MS. Those coins are VF but in OGH so I probably will keep them. Auctioned off all my impulse and bad buys at GC about 6 months ago and bought this nice 1840 with the proceeds.
I just stack them. Generally slabbed silver ASE, Mexico Onzas, and gold bullion coins. Plus some slabbed USA generic Walkers or Dollars (Morgan, Peace). It all adds up so not to worry.
@NorthStar was talking about “two graded examples of a key date coin”, not generics, gold bullion coins, etc.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
When I was doing my prooflike Morgan set, I would justify also keeping the pieces I had upgraded ..... because they were different die pairs. That got me into VAMs in the late 80s/early 90s.
Was just saying to a coin friend on the phone hours ago that I had slipped into my old habits when I upgrade a coin in my FH/Bust dollar set. If they are different die states, I keep the upgraded specimen.
So, I generally keep the coins. Otherwise, they are sold or traded, unfortunately more sold than traded.
I usually upgrade like you do, but I have replaced a few F and VF coins with choice AG coins that I liked and had more character, such as this 1872-S half.
u sell em to someone else and then the capital is freed up to buy something else.
a.k.a "The BUFFINATOR"