Difficult to KEEP in my collection...

joeykoins

Hi guys,
Do any of you guys fall into this dilemma too?
Lol, I understand it's preference but when you purchase, win or are given any coin/Bullion. Do you tend to want to liquefy and quickly flip that such piece for any additional cash to maybe buy something else? 🤔 I do realize this can be foolish and weak in willpower. But for me, most of the time, it works. Many times after I attempt this,, I do keep the next buy in my collection. At least for quite some time, anyway! 🤣
How 'bout you guys?
Thanks 😊

TurtleCat

Generally if I obtain something (somehow) that doesn’t fit into an empty slot in a raw album or my slab set then I’ll generally sell it. There have been a few exceptions for specific reasons but I gave up being an accumulator some time ago.

Manifest_Destiny

I've always been very focused and if something doesn't fit my core collection, it gets converted into cash for my core collection.

skier07

I’m not a coin dealer so I don’t buy coins that I don’t want, like, or need. I don’t actively buy coins to flip and the few times that I have things didn’t work out very well for me.

Walkerfan

I sold a bunch of bullion and odds and ends that I didn’t want (both raw and certified) and converted it into rare certified coins that fit my collecting interests. So yes, I have done that a lot over the years. It’s a great way to supplement your collecting budget.

JBK

Hmmm. So Joey, why are you competing for coins you don't even want? 🤔

nwcoast

Nope Joey.
I have just the opposite problem in that I am hard pressed to sell any of my accumulations.
Hoarding tendencies maybe???

joeykoins

@JBK said:
Hmmm. So Joey, why are you competing for coins you don't even want? 🤔

..."Competing?"

😆
That's just it! I have that silly tendency to sell, what I just had bought or won on a race!
Can't explain why I do except the fact I want more cash (not to take from my bank account) to maybe buy something more desirable?
I know , it's crazy but fun for me. Esp when I can sell for more than what I paid!

Barberian

@Manifest_Destiny said:
I've always been very focused and if something doesn't fit my core collection, it gets converted into cash for my core collection.

I'm the opposite, very distracted with multiple coin sets and will purchase duplicate lower grade coins simply because I like the look of them. I also buy for anticipated future sets like WLH if I see a nice-looking coin. I think deep down I want to sell coins. I'm now trying to do what you always do, and that's sell off all this accumulated stuff and convert it to cash for the core collection, SLHs.

Tom147

Nope. I'm a collector only. Very seldom ( as in virtually never ) do I sell. I'm at the point that I don't buy a coin unless it fits my needs or wants. Several years ago I started a new series with a goal of ms65. Finished in less than a year. Now what ? Let's do it in ms66. Took awhile longer but finished it up. Now what ? You guessed it. Now in ms67 complete with a several +'s and a few 68's. Top 5 Registry set. I still have the 65 & 66 sets. Accumulator ? Hoarder ? Probably. And I'm O.K. with that.

IkesT

@joeykoins said:
Hi guys,
Do any of you guys fall into this dilemma too?
Lol, I understand it's preference but when you purchase, win or are given any coin/Bullion. Do you tend to want to liquefy and quickly flip that such piece for any additional cash to maybe buy something else?

Liquidate, yes - liquefy, no...

HillbillyCollector

No, I’m more of a accumulator! I try not to buy anything that I don’t really like and have been pretty fortunate.
Of course I’m hoping to upgrade some issues in the future and at that time I’ll be interested in moving the old coin out. I think that’s pretty normal, though.

Batman23

Nope. I generally add any new treasures to my accumulation and move forward. It just doesn't seem right to sell off a gift. My collection is random enough that most anything will fit somewhere.

I have sold few coins over the years... well unless you count my accumulation of modern mint sets and proof sets that were just taking up space. Sold those off and picked up a couple classic coins instead. Much wiser move in my opinion. But in general, once I have it I hold onto it. I would be more inclined to do trades than selling but my opportunities for trades is almost non-existent.

Manifest_Destiny

@Barberian said:

@Manifest_Destiny said:
I've always been very focused and if something doesn't fit my core collection, it gets converted into cash for my core collection.

I'm the opposite, very distracted with multiple coin sets and will purchase duplicate lower grade coins simply because I like the look of them. I also buy for anticipated future sets like WLH if I see a nice-looking coin. I think deep down I want to sell coins. I'm now trying to do what you always do, and that's sell off all this accumulated stuff and convert it to cash for the core collection, SLHs.

I was out of the hobby for years and since the decks were cleared, I only buy coins related to the core collection of seated quarters. I do have a 78-cc Morgan for a pocket piece though, so I guess you can never truly stay 100% focused.

PeakRarities

No one can keep everything, and if I don't see a compelling reason to keep something, and there's an opportunity to take profits, i'll sell and roll it into something else. There's nothing foolish about it if you're continuously making a profit, at which point you're operating much like a coin dealer would.

"Foolish" would be buying at retail and selling at wholesale and losing money every time. As long as you're not going that, have fun and do whatever you feel makes sense, just be smart about it!

bsshog40

I have a couple coins that have been gifted to me and also a couple that I have won in forum giveaways. None of them actually fit in my so-called collection but because of the way I received them, they will always be in my collection. The only way I would sell is if I had to eventally sell everything for financial reasons.

joeykoins

@IkesT said:
Liquidate, yes - liquefy, no...

😆
Yes, "Liquidate!" Thanks.
Now you see how my brain is! Esp in being so undecisive on what I really want in my collection!

OAKSTAR

I don't know. All I know is, if I had your money I would burn mine! 😉

jmlanzaf

@JBK said:
Hmmm. So Joey, why are you competing for coins you don't even want? 🤔

Time for an intervention.

He also purchases coins he doesn't want.

I think he is addicted to buying not in love with coins.

WQuarterFreddie

@jmlanzaf said:

@JBK said:
Hmmm. So Joey, why are you competing for coins you don't even want? 🤔

Time for an intervention.

He also purchases coins he doesn't want.

I think he is addicted to buying not in love with coins.

I think he is addicted to the attention he receives from his threads. I mean REALLY Joey, cut back on the coffee and drink some water occasionally!🙄

pmh1nic

I only purchase or win (auction) coins I intend to keep. Unfortunately no one has given me coins or bullion to have to make that decision. I need to find some new friends...lol.

JWP

I'm always wanting to buy, and then start thinking what can i sell to pay for my new piece of EYE Candy. That is why coin collecting is so much fun for me. Every day I find a new piece of candy that i want.

Rollerman

I'm pretty much with you on that. I'm not much on holding bullion.

joeykoins

@pmh1nic said:
I only purchase or win (auction) coins I intend to keep. Unfortunately no one has given me coins or bullion to have to make that decision.

Well, honestly. When I do win items. 99% of the time , I sell to make a profit! Esp in Bullion/1grams of Gold!
Or when I cherry pick, then I flip to make a profit, as well. Also, about coins/ Bullion that's been given to me. Those are the "Free Giveaways"
Remember guys, this thread, was originally meant to be about in all my items I receive. Instead of selling them, most of them I really would like to hold on to!
However, I just can't seem to!
Plus, I really pry myself to always have some "play money" to use in many ways. Meaning, I DON'T want to use our house money (bank accounts, credit cards, allowance...) I'd prefer to use the cash I receive when selling, flipping or even by turning in the Silver I find when I CRHunt.
This also makes the wifey very happy too!
😏

Sapyx

I have the opposite problem. My coin collection is like the Taklamakan Desert: coins go in, they never come out again.

joeykoins

@Sapyx said:
I have the opposite problem. My coin collection is like the Taklamakan Desert: coins go in, they never come out again.

How awesome to have that will power and collective commitment!
I used to have that gumption! There was a time when I would be totally stubborn on letting anything go!
Not anymore.
In which, I'm OK with that. I still have a cool and valuable inventory.
Modern and old school.
My best part of my collection are my Libertads!
Now, that is what I'm stubborn in. I will NOT let any of my Libertads go!

relicsncoins

I have a core collection of ANACS photo certs that I'm trying to put a 7070 type set together with. I will find upgrades and sell them on occasion, but I am somewhat of a hoarder and will buy one if it peaks my interest. I traded an XF45 1913 T1 Buff last year for a bunch of elk meat. Have a solid 64 that I replaced it with.

pmh1nic

@joeykoins said:

@pmh1nic said:
I only purchase or win (auction) coins I intend to keep. Unfortunately no one has given me coins or bullion to have to make that decision.

Well, honestly. When I do win items. 99% of the time , I sell to make a profit! Esp in Bullion/1grams of Gold!
Or when I cherry pick, then I flip to make a profit, as well. Also, about coins/ Bullion that's been given to me. Those are the "Free Giveaways"
Remember guys, this thread, was originally meant to be about in all my items I receive. Instead of selling them, most of them I really would like to hold on to!
However, I just can't seem to!
Plus, I really pry myself to always have some "play money" to use in many ways. Meaning, I DON'T want to use our house money (bank accounts, credit cards, allowance...) I'd prefer to use the cash I receive when selling, flipping or even by turning in the Silver I find when I CRHunt.
This also makes the wifey very happy too!
😏

My intention in collecting has never been to flip coins for a profit. You seem to be a hybrid, part collector, part dealer. Or maybe someone that focused on funding their collecting hobby by flipping. If you've been successful at it great. That's never been my inclination.

NeophyteNumismatist

I have never sold a coin. I have given circulated classic coins away to the Boy Scouts. Truth is, I don't have a ton of coins. I buy the ones I "need" for my sets at a slow, deliberate pace. I never buy to re-sell, and don't jump on Mint products. If my family or friends give me a coin as a gift... I would never sell it.

Maybe one day I will be at a point where I want to sell something, but it's unlikely anytime soon. Generally, I do not enjoy selling my collections.

joeykoins

Believe me guys, I totally get it!
If I had the cash like when I was single with less bills and less responsibilities. I would also KEEP whatever gets in my hand. But I learned, to be conservative, sort of, with the cash I have. Without using any monies from my paycheck. 99% is from my cherry picks and silver finds.
Wait a minute. I think I already posted this earlier?

🙃

joeykoins

Oh!
I forgot to mention my cash flow coming from all my EBAY sales too.
All extra cash, from not going into my bank accounts!

JBK

So you let your hobby fund itself. That's a pretty impressive achievement.

I'm not sure you need our advice if you are an active coin collector who is operating in a closed financial loop.

asheland

Typically if I get something and I'm not feeling it, I'll sell it or give away if it's inexpensive...

If it's an ounce of silver given to me as a gift, I have a random box for such coins..

But if it's a hundred dollars in value or more, I'll sell or trade for something that fits my collection. I know the feeling if it's something I don't want anymore, I usually want it gone ASAP

joeykoins

@asheland said:
Typically if I get something and I'm not feeling it, I'll sell it or give away if it's inexpensive...

If it's an ounce of silver given to me as a gift, I have a random box for such coins..

But if it's a hundred dollars in value or more, I'll sell or trade for something that fits my collection. I know the feeling if it's something I don't want anymore, I usually want it gone ASAP

Those are my exact sentiments.
Yep