Collection management
Abuelo
Posts: 1,970 ✭✭✭✭✭
Hello everyone, I hope you all are having a good Thanksgiving. I wanted to ask you all how you manage the following problem. I have been collecting coins all my life, already several decades. I get the coins I like so while I have some interests, I am not dreaming of completing any specific series. If I like the coin, I get it. That has created a big problem. Space. I have a few safe deposit boxes in the bank, but the collection is outgrowing the real state there (not to mention that I despise going to the bank). While I am sure I could get more space, then the fees will be adding… What would you do? Sell and downsize? Get more specific on what you get? I have to say that while I have many coins that are not expensive (others are), many of these are top pops, so not necessarily everyday specimens. I think the quality of the collection is good. I know I could get rid of some of my coins without affecting the core, but I’m not sure that will solve the problem unless I do a serious purge. Let me know what you think. Thank you.
Comments
If you can afford to collect the coins, you can afford the safe deposit boxes. Don’t let the cost deter you. You may, however, want to try to get some bigger boxes, which are more economical.
That said, it’s always a good idea to regularly purge less important coins from your collection. Mostly because it frees up money to buy more important things, and because you’ll get more satisfaction out of viewing your collection if you’re only looking at coins that survived the cuts. But it will also free up some space.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
@MrEureka yes, the bank fees are not quite nominal, but clearly will not bankrupt anyone. It is a bit of the battle between having a large collection vs smaller with more expensive pieces and perhaps more focused.
I sold some coins recently, mostly because of the rise in the metal price, pieces I found out I do not care so much. With that cash I got a very rare set from an auction, stunning coins!
@1984worldcoins that's the point. I need to think if I want to do that.
@Abuelo Not sure if you’ve considered a high quality home safe…? There are some really good ones out there. They get pricey but I’m sure multiple SDBs could as well over time.
@MEJ7070 yes, in the past. I travel a lot due to my job, so the idea of leaving them in the house, even in a safe, was considered but I decided against it.
@Abuelo whatever you do, don’t keep any quantity of coins at home, safe or not. ANY home safe can be compromised, no matter how “secure” or strong.
@pruebas not in the plans. As mentioned, many years ago I decided against it.