Quality vs. Quantity......which do you prefer?

Bustman

I wanted to put this question to the forum members. Which do you prefer...quality or quantity? The reason I ask is because I recently sold off a large amount of my type coins to purchase a much smaller amount of truly rare and beautiful coins. While I am happy with my decision to do this, it was not easy, and I sometimes wonder if I made the right choice. I now own half the coins I use to, but there is a certain sense of accomplishment I feel in owning some truly special peices that I once could only dream of owning. Has anyone else ever gone thru this?
Bustman

kranky

I prefer quality, but for some reason I tend to end up with quantity.

CarlWohlforth

I prefer quality. I sold off lots of stuff and have far fewer coins. But I guess I was hording a little, I had many duplicates and things I am not focusing on. I haven't reduced the number of types I own, that would be much harder!

nwcs

I've gone back and forth on this one. FOr a while I got quantity, gobbling up mass quantities of walkers/franklins/kennedies (40%) and mercs. But then I switched over into more of a quality mode. Of course, I wish I could just have them all!!

Gilbert

It depends. If it is a coin for my collection - quality.

If it were a coin that is valuable in any grade, something that I could make money on legitimately - quantity. For example, '79CC and '89CC Morgan dollars pretty much sell in any grade. Well I wouldn't mind having a quantity of those, and I wouldn't feel bad selling a G4 or F12 and making money on them. Ordinarily, I'm not comfortable selling or even giving away something I wouldn't want myself.

EVillageProwler

I prefer quality over quantity. But, in reality, my collecting approach is a blend of both. Basically, I select the approximate qualitative range for a series in which I can make the greatest progress. Then, within that qualitative range, I buy the best.

Take Early Dollars. I can buy all choice, unc-ish AU55's and up. But, that would be prohibitive on my budget (and the series doesn't really lend itself to that grade range). So, I decide to buy the best, most original specimens in the lower to mid circ grades.

EVP

UncleJoe

Quality for me is a no problem circulated coin. But thankfully due to the lower price of circulated coins I can also purchase quantity.

Joe.

ARCO

Both! I buy all the quality circulated coins I find, and they add up quick.

Tyler

lordmarcovan

Quality, for sure. I think this is what most collectors will say, unless they are buying silver for bullion, or something like that.

66Tbird

Quality all the way here also. I used to just collect coins in hopes of a little profit down the road. I have learned that the joy is in the learning, and rarity in either absolute or conditional. After selling off a good part of the accumulation and realizing that what I thought would appreciate didn't, and only my knowledge did, I'm a happier camper all the way around for buying nice pieces.

Like this one, I know I've shown it before but it still make me smile

Then there are a few board members that helped me see the light, so I really own it to them.

DHeath

For me, it's about quality, but EVP is right about the definition being series specific. One of the series I like alot is bust halves, and I won't buy anything below VF. It just has to have eye appeal. The thing that gets me in troble with my better half is that I think some of the moderns are also beautiful coins in relatively inexpensive grades. I love the SMS coins with cameo, I like Kennedies too, I love Washington quarters in silver, I love toned Jeffs, I love the high-relief 1921 Peace dollars, etc. Some of the dark side stuff is so cheap in high-grade that 100+ year old coins are sometimes available for $10-$15. I know lots of collectors seek only pop-top coins, but if you truly like the coins, eye-appeal matters more than grade, and that to me means quality and quantity. Hey, they don't have to be rare to be beautiful!

BlueCole

It depends if i'm buying coins or drinking beer.


I like to find a balance-- the quantity to fill up my ablums, but the quality for my single peices. (i.e., the 1979S type two i got earlier this week--it's a Beauty!!!)

B.

izzy452

This is easy for me to answer,since I am a quality manager. Quality always over quantity. I would rather
have a few great coin and a lot of ordinary coin.


Walt

nwcs

When it comes to quantity, though, there are things to recommend it. Who wouldn't like seeing piles and piles and piles of walkers and franklins and mercs all around you! It's just cool!!! But I still am shifting towards quality.

baccaruda

i've determined that coins happen to be one of those arenas that reward the rich and punish the poor.

a person with limited funds to spend on coins will typically spread his funds as far as they will go (quantity) and end up with a mass of coins that have no rarity value and in 50 years will probably be worth what he paid or less. if he enjoys them, then it isn't a problem...

a person with gobs of cash to spend on incredible rarities will not only get to enjoy a gorgeous coin but will probably end up selling it at a huge profit in the future.

so...

i've also decided to sell off my quantity and move to quality. i've always liked old commems and proofs (gonna get me an oregon and a texas). gonna try for the best i can afford.

RotatedRainbows

Well as the old saying goes Buy The Best You Can Afford. which usually means quality over quantity, when it comes time to sell a TRUE collector coin there is almost always a buyer for quality but it is much harder to find a buyer of quantity (which usually means lower grade less attractive).

michael

IT ALL DEPENDS ON THE PRICE!!

NOW for coins i want for long term and other important reasons; reasons i will not mention here ...................lol well then QUALITY PLUS PLUS AND THEN SOME WITH WHIPPED CREME AND A CHERRIE ON TOP!!!!!!!!!!!!!!!!!!!!

sincerely michael

WWBillman

Quality must be the biggest factor when purchasing a coin. Even if it is a common type coin quality will always provide to best return.

Whats good about going to a resturant where you can stuff yourself with as much food as you can eat for $5.00 if it all tasts like $hit?

UncleJoe

Quality is certainly the way to go if you are concerned about the future value of your collection. I only collect circulated coins and I am not concerned with the future value of my collection. This is a hobby for me and I enjoy seeking out the coins I need for my various collections.

However, (and maybe ARCO can help me out here) you may or may not be surprised at how difficult it is to find many problem free circulated coins. Junk is in abbundance and I also notice a lot of high grade coins (though I don't know if all series are represented as I do not look for MS coins) but problem free circulated coins are scarce.

Joe.

braddick

Just remember your "quality" is someone elses 'quanity'.
I'm sure some of the Rainbow coinage I own would be considered second rate to some Rainbow Collectors on this forum.
With that said, I'd choose "Quality" (as defined by me).

Jay Parino (of "The Mint") used to preach the "Box of Twenty" concept. You have a PCGS (or, NGC) Box of Twenty coins. If you buy a coin good enough to go into this "A" box, one of the coins must go. If you can't make room for your new purchase (because you just don't have the heart to get rid of any of the coins already in the box) than you pass on the new purchase. Only if it's better than your "weakest" coin do you buy.

Interesting idea on collecting.

Trime

Quality for sure but... I am interested in varieties of 3CN, and SL coins so I have acquired duplicates of dates. I also have a large number of MS and PR duplicates of 3CS. After I have completed my studies , I plan to sell a significant portion of the non unique duplicates. I think there is an evolutionary process toward quality/quantity for most collectors as they gain experience and judgement. I continue to learn and the quality improves.

goyankeez

In each of my collections, I try to find the best quality coin that I can afford and still be able to complete my set. If I upgrade, I will sell the replaced coin. I don't have a lot of money so I have to streamline my collection whenever possible. I rather have a nice collection of 15 coins, than 150 coins that cost the same.

baccaruda

Who wouldn't like seeing piles and piles and piles of walkers and franklins and mercs all around you! It's just cool!!!


i share this same sentiment. i have big canisters of circulated mercs, silver washingtons, war nickels etc. i have a room that is only about 8' x 8' like an office. i want to fill that room with circulated silver coins and get one of those "dutch" doors (where the bottom and top open separately). then i can put a step-ladder outside the door for getting in and out. there would be shleves just above the mountain of silver that would hold the quality stuff.

berylcoin

I think the question has to be asked in the context of one's collection. It seems like quality is defined on a sliding scale. I could buy only one high quality coin per year with my entire budget and some collectors would think I was buying cheap junk. It's all relative (overused phrase). I try to find quality in common circulated type coins. A contradiction? I don't think so, but someone who collects only keys or monster high grade commems might think otherwise. That's my circulated two cents on the subject.

BC

Bustman

Ok, it pretty much seems that almost everyone will agree that quality is the way to go. It also seems that the word "quantity" means low end material to most. So maybe I should phrase the question this way instead.......
Lets say you have 10K to spend at a show, would you be more likely to buy several very decent quality coins, or are you going to go for that one $ 10,000 super coin that you and most everyone else have been drooling over?

berylcoin

LOL

Translation: "Would you like to date several supermodels or one TOP supermodel?"

Seriously, in that situation (which I plan to be in one day), I would try to go for the single coin, but I would still find it very difficult to make only a few purchases per year. I need to get my fix every month or two. That's actually how I budget my coin spending.

BC

CalGold

This thread raises the question of how many coins does it take to constitute a collection?

Lets say you decide to go with quality, say MS 67 or better classic coins (bust, capped bust, seated etc), and as a result can only afford to buy one coin every five years, and you start now by buying coin #1, do you have a collection consisting of one coin?

Lets say you decide to collect early gold (1795-1834) ms63 or better, and you read all the books and study up on the subject, and go to a lot of shows and auctions, but you cannot presently afford to buy any of those coins since they are all five and six figure items,
but you are saving up to buy your first one some day, if your wife will ever allow you to blow that kind of money on a coin, when after all you could have bought her a killer diamond instead, do you now "collect" those coins and do you have a collection consisting of zero coins?

Bustman

I'll take the top super model for 10K

stujoe

Depends upon what you mean by 'quality'. If quality is a $500 MS66, then I would say quantity. If quality is a properly graded, original, undamaged $5.00 coin, then I would say quality. I have a lot of nice, quality cheap coins. The only thing I really dislike is damage and duplicates.

IrishMike

I believe for a lot of collectors, not all it is a natural progression from quantity to quality. I am going to put that to the test at FUN in January. I'll use your $10,000 stash as an analogy. I will be looking for IHC's, primarily which is what I usually do, but I always come home with a lincoln variety, a colorful Franklin, a toned bust half or maybe next week a nice 3 cent silver I have had my eye on. My goal at FUN is to add to my MS64 Red IHC collection. That means I could spend any where from $100 on a coin to $12,000 (that 1877 red I want). Which would make me happier one coin or several, I just don't know. That to me is the fun of going to shows. What ever happens will happen, either way it's going to be a fun treasure hunt for me.

shylock

I like Braddick's 'one man's quantity is another's quality' statement. The typical collector goes through stages where their determination of value and interest change, and some develop a taste for what doesn't normally fall into the "quality" catagory. I find collections tied together by unique themes or unusual varieties as inspiring as many of the high priced marvels. They can be as difficult to put together, have the collector's heart and soul attached to them, and speak volumes about the collector's experience to have arrived at this unique perspective.

Personally I'm at the one box stage, with an emphasis on unique looking copper. But I can see myself one day selling them all and putting together an album of nice AU/low MS IHs like IrishMike is doing for one of his collections. Sounds like the reverse of the typical collecting cycle -- until you've come to appreciate how challenging a set like that really is.

Veep

Definitely quality.

I have a few sets that I put together in my early years of collecting. So, I do have quite a few coins. Even then, I sought specific grades with eye appeal.

For the last several years, I've subscribed to the "One Box" theory. At about eighty percent of the shows that I go to, I leave with nothing. I'm very focused and rarely does what I'm looking for turn-up.

mercurynut

I always prefer quality...why own crap!

fcloud

Quality is the only way to go. I learned many years ago when I tried to sell some coins to a dealer. The dealer only wanted the "Keys, BU, Proofs, and Gold." I did find another dealer to sell, but I won't make that mistake again. Always consider resale. Common coins are common coins. Get less coins but get high quality coins, keys, and whatever will be saleable in the future.

coynclecter

The main answer seems to be buy quality because it sells. well quantity sells too. If you pay too much for an overrated coin you might sell it easy, but at a loss.

You need a mix, nice quality but I also don't want a one coin collection. The obsession with quality has gone to an extreme (as in 89) and has become a pyramid game. As long as there is an unlimited supply of money it will continue, and that might be a long time but for the average collector, Would you gather own a set of coins in 63 or a few keys in 67?

Bustman

I should re-do this thread because of my poorly wording it. In the middle of this thread I changed it to something like this........

If you went to a show with 10K, would you rather spend the 10K on one truly rare mega- coin ? Or would you get five semi-rare nice coins at 2000 each?

stujoe

If you are using quality as a euphamism for expensive, then you do indeed need to be concerned with resale and what a dealer might give you for your coins. I think the risks are also higher. One mistake on a 500 dollar coin is a lot easier to make than 100 mistakes on 5 dollar coins.

I really have little concern over resale myself. I treat my coin money like pizza money or dart money or fishing money or beer money. I don't spend anything on coins that I don't consider 'gone' just like on those types of items. I buy nice 'junk' coins and I know that, unlike those other things, they will be worth 'something' in the future but I don't concern myself with it. There is no right or wrong answer, of course. I guess it is all in how you approach the hobby.

MastaHanky

I was all about quantity for the longest time.

The big turning point for me was when I traded in my 50-odd rolls of circulated wheats at 1.5 cents each.

Now I never look back. All quality, baby!

oldcameoproofsguy

I buy about four coins a year. I need 14 coins to finish my Barber Proofs Set, for anyone who looks my 1897 PR67DCAM isn't listed yet, but it will be in a couple of weeks. If I'm lucky I'll have it done in just under 4 years. So far I've been working at this set for 2 1/2 years, which means 6-7 years to complete all 24 coins!

I would love massive quantities of great quality but I can only afford small quantities of great quality!



My Barbers