The ranking of our collections
pursuitofliberty
Posts: 7,109 ✭✭✭✭✭
A friend of mine were having a conversation yesterday on my drive back from a visit with my grandson, and we were discussing a few coins he was considering purchasing, when somehow we got onto the “box of 20” line of thinking.
I made the comment about one of the coins he was considering (he had emailed me Friday) that if our entire collection was a theoretical “box of 300”, one of those coins was also a “box of 50”, and probably even a “box of 10” coin, at least in my opinion.
Following that line I added that the second was probably topping out at the box of 50 level, and the third was reasonable, and at a price, worthwhile, but probably never made the upper cuts.
This was a totally off the cuff conversation as I was driving at about 70 (forgot to put cruise control on and came pretty close to getting pulled over I think!), but it seemed apropos at the moment.
Then this morning, while sipping coffee and watching the siege of Heron that call the waterway behind the house home, I considered this conversation further. My friend had expressed appreciation about our conversation last night (and ended up passing on the last coin), and it made me think how useful the line of thinking we explored can be in purchasing a new coin for the collection
Is it a box of 300 coin? Nothing wrong with that. It passed muster and probably fills a greater want (or a need), but maybe not a distinctively special coin. Solid. Worthwhile. But not memorable.
A box of 50? Definitely getting onto the do not sell these unless you’re absolutely sure list. A coin we would probably always remember, at least somewhat. Definitely something we want to actively pursue if we are able.
A box of 10? Completely special, and probably something my kids will have to deal with unless someone offers me silly money to pry it away. A coin that would always feel like an old friend if it came back around again, and probably for many of us, a somewhat singular opportunity for the issue.
I think for many of us, the want (need) to buy new pieces is part of the thrill, the endorphin rush, the addiction. And if we are at least somewhat focused, patient and studious, hopefully our purchases fall mostly into at least the box of 300 group (and not the oh shi*, what the he** was I thinking group).
But when we’re extending, maybe reaching, or even chasing a little bit, shouldn’t we be only be doing so knowing this is a box of 50, or a box of 10 purchase?
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Just musings to consider … and thoughts to share.
@Catbert Thanks for the call Dan! It was a good discussion!! 
“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
Comments
Really nice post.
If one has a large and far reaching collection, I agree with you almost completely.
But, periodic pruning and discipline can make this a bit, not easier, but less difficult. My total collection is currently ~150 and a lot closer to 100 if not including cheap moderns, sample slabs, etc.
I further cheat by considering my primary series as the sum of its parts, so now I am around 60 coins, Easy. When is the Long Beach auction again?
chopmarkedtradedollars.com
Mine's more like a photo album of several 100.
Have to confess I’m a box of 300 sort! Thoughtful thread, though @pursuitofliberty!
“The thrill of the hunt never gets old”
PCGS Registry: Screaming Eagles
Copperindian
Retired sets: Soaring Eagles
Copperindian
Nickelodeon
I probably have several thousand, and it would be hard to me to think in limited terms. My mind runs toward articles and exhibits and what I need to fill those projects. The artcles could probably do with a lot few coins, tokens and medals because the editors always seem to want to use someone else's (usually Heritage auction) pictures. The exhibits are something else. You need the exact item most of the time, and I rarely need to buy auything to cover that.
Thanks! I probably should have posted it earlier, but I am definitely more of a box of 300 guy overall. Actually, maybe more like a box of 500 guy since my PCGS inventory shows 329 pieces and I'm pushing 180 CBH's!
But in my case, the ones that only get to the "300" cut-off are pretty much theoretically for sale, where the ones a the "50" and the "10" are really not.
So the concept is the same, and while I didn't get into it too much in the original post, one thought I had this morning was I need to work on making the boxes of "10" and "50" coins bigger, and reducing (or limit adding to) the number in the group of "300".
“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
I have a couple thousand coins, if you count my slabbed coins (about 200) my raw sets in albums (about 500) my raw coins in Saflips (about 500), lower value raw coins in cardboard 2x2’s (about 400), my Coinstar finds that I keep in a special box loose (about 150) and more loose ones in baggies that I haven’t put into long term holders yet (about 250).
So I think I understand the concept of categorize different types of coins. I don’t think I could just have one category though.
Mr_Spud
Great post. It's also useful to think in terms of opportunity cost: if you could find a comparable example of a 300-level coin by waiting for x months, do you need to buy that coin now?
What if a much harder to replace "50" or "10" coin came up tomorrow?
Whenever I've had an opportunity to add a Top ~20 coin, I move heaven and earth to ensure I can do it.
For me, if a coin is easily replaced, I don't bother owning it unless it's an absolutely monster example of the type (in which case, it isn't easy to replace).
I just made my physical box of my 20 best and I think there was only one coin in there that cannot be easily replaced.
I’m a box of 20 guy, but there are 3 boxes. One for errors/varieties, one for my favorite series and one for my types.
Silverman68, jfoot13, GAB, ricman, Smittys, scrapman1077, RyGuy, Connecticoin, Meltdown, VikingDude, Peaceman, Patches and more.
Hey @pursuitofliberty ! Yes, it is worth considering the concept (an additional flavor of quality over quantity approach ala being selective!). I think I hear an echo of @MFeld
I think it especially compelling when building a series collection and resisting the urge to fill a hole if the coin isn't all there to one's standards. If one is a type collector, there usually will be another coin that meets one's standards so one doesn't need to chase a coin.
The series collector has to consider the opportunity cost (as @SmEagle1795 points out) for the date and rarity and condition census realities. You capped bust guys can often find the nicer coin if patient enough
(certain varieties excepted, but CBs are as common as pickup trucks 
) whereas we seated aficionados often have to face availability hurdles and must consider trade-offs.
BTW - I want to emphasize that while the hobby can be a solitary pursuit, it is always good to engage with another experienced eye to help one make an informed decision. This "pursuit" guy is a generous and knowledgeable soul. His friendship and others like him is another factor that makes this hobby so rewarding!
"Got a flaming heart, can't get my fill"
I do this to a degree but try to now only buy “box of 10” coins. I’m up to about 30 of them, and complete lay off everything else.
Latin American Collection
I collect like I have a box of 10,000. How else do I explain this purchase?
1840-O WB-6 (R6)
I’ve been in the hobby for 15 years. I have 24 coins. I tend to keep the most valuable/hardest to come by. I expect to stay around that number by selling some and buying new ones. Specialization is another aspect that has served me well.
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I like your post, but this did NOT go unnoticed. Maybe I WON'T return the call next time!!
But actually you bring up an interesting point for those of us who put a general cap or condition on the grades we collect of a certain series. In some cases, while there may be a finer coin, there may not be a finer AU55 (or VF35 or whatever). This also helps keep the hunt more selective within our own individual parameters.
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See, you are a box of 300 guy!
But actually if I have 300 coins, that is EXACTLY what I want my collection to evolve to; 30 "boxes of 10".
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I see an R6 in the description. As a pursuer of Die Marriages (and sometimes even Die States within a Marriage), that could still be a "box of 50" amongst the masses (in your case maybe that's the box of 1500 level?)!!
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“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
Well thought out write up. Several May have a similar thought process. And that may work well as long as one’s numismatic interests remain constant. The larger dilemma is not appreciating a coin outside your scope that might easily fit into a box of some kind… perhaps a box yet to be undertaken.
The coins that I would have the greatest difficulty parting with are one that I really were not looking for at the time I bought them. Some collectors have a different standard for discipline. And all I can advise is that you have to really contemplate and be mindful of how often certain coins are offered. And equally important is understanding what the surviving population looks like.
Experience the World through Numismatics...it's more than you can imagine.
I'm trying to limit myself to the number of PCGS boxes I can fit into my safe deposit box. In that regard, collecting a 50 coin Commemorative type set presents it's own challenge.
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You sir, quite literally, need a bigger box!
“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
I like this thread. True "thinking outside the box."
I always start a new year with an annual Box of 20 mindset.
Looking back, a 20 coin annual limit would have built a diverse and enjoyable collection.
Never come close to 20... and the few keepers sadly get flipped away.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I collect all kinds of things! I am very lucky that my girlfriend is so tolerant of me. I'm not kidding. I have a Star Wars prop and helmet collection including many light sabers, a collection of cosplay costumes ranging from Jeepers Creepers to Kylo Ren. I also collect firearms, antiques of various sorts, Zippo lighters, and finally rare coins and currency. My grandparents were hoarders due to living through the depression era, and that may have rubbed off on me a little bit.
I personally rarely sell anything, although I have sold a couple coins and one firearm in the past few months. Those were both exceedingly rare occasions.
Dwayne F. Sessom
Ebay ID: V-Nickel-Coins
I have several different numismatic collections. One, consisting of rare and scarce medals, will never be completed even though the want list is fixed, so the hunt will go on. Others are open-ended, that expand with learning and research. None are series collections, sold those. Very fluid. I guess I keep running into new and interesting themes. My current main area of interest is foreign coins that circulated in the US, from Colonial times, later as legal tender, and as documented in commercial use. This theme defies any practical limits. No boxes.
Did you really mean "1907 Ultra high relief" or did you mean a 1907 High Relief?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Nope, the safe deposit box is my "Box of 20."
……….yes sir…thank you Mark, I’ll edit my post. For some reason the 2009 was the ‘ultra high relief’ and that was stuck in my mind. 😉
Bummer. 😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
All of my primary collections have begun as a Box of Twenty concept. Once I fill it; I'm usually satisfied but, sometimes, I branch out into either a Date or Full date and mint mark set. I have four primary sets.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I've been collecting since 2002. I'm up to 20 albums now. 40% US; 60% foreign. I like building (primarily silver) sets. I love the chase. I'm normally working on a few at a time and when I get to rough sailing in a set, I usually move on. I try to avoid getting garbage to fill a hole. I also try not to buy the same coin twice. So, I have a bookshelf and safe deposit box full of 300-level coins.
I'm still having fun. However, when I retire in 25 years, I'm going to be spending it trying to clean up the mess so my family won't have to.
Hey Bro….
I LOVE coins too much to limit myself to boxes.
I measure mine by the contents of my safe(s).
😉
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.
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This is why you're my hero!
I mean yeah, why limit yourself to even a couple dozen boxes?!
“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
Heirs.
That is why you send them to auction.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I’m slowly working on classifying/ranking my collection. I traded off a couple of slabs at the Tucson show and sold some 90% that doesn’t have numismatic value anymore. Certainly only a drop in the bucket of my collection, but a start.
I’m trying to only add coins I’ll want to keep and will be worth dealing with. I’ve got to figure out which coins from my early collecting days are sentimental and which ones just need to be consolidated into better coins that fit where I am now.
I’m lucky that my son likes coins, too, so I’m also trying to figure out what might fit his collection as an 11 year old, but also not junk him up for later.
I think I’d like to be at a nice box of 300 slabs and I don’t know what I’ll do with the stuff I’ve had for 30yrs and would never buy again. That stuff might just get to exist as a reminder of simpler times when a $25 purchase was a major deal.