POLL: Collector, numismatist, investor?
nwcs
Posts: 13,386 ✭✭✭
OK, there have been some opinions that a coin collector is not the same as a numismatist which is not the same as an investor. So I'll ask ya. What do you think you are? Now I know some of you will want to pick all of the above or 2 of 3. But pick the one that you feel most accurately describes you.
Neil
Neil
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Not sure how numismatist is different from collector, but since this is your thread, I'll use your rules and placed my vote accordingly.
I love Ike dollars and all other dollar series !!!
I also love Major Circulation Strike Type Sets, clad Washingtons ('65 to '98) and key date coins !!!!!
If ignorance is bliss, shouldn't we have more happy people ??
It's too limited to pick one above all else. I like to think I am a numismatist and a collector, but I do more study than collecting simply based on finances. Which category would you select?
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
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I purchase my coins simply for the fun of it and it gives me something to do and talk about. I would like to think that someday through my reading of related books and exploring the numismatic field I may become a minimal numismatist.
I have no interest in investing in coins. If they go up in value..... I guess that will make my kids happy some day as at this time I do not ever intend to sell my collection. If they go down in value I suppose it will only reinforce my kid's opinion that their father is dumber than dirt. (for those of you with teenagers I am sure you know what I am talking about here)
However, I am not blind to the financial aspect to collecting. Part of my joy in collecting is the art of the deal. I do try to get the best deal at the given time based upon current market values. Its the business man in me that does not let me simply pay the asking price because I love the coin. Whether the value goes up or down, after the coins are in my collection, is irrelevant.
Blaze - Yellow male b 3/17/93
Onyx - Black male b 3/7/99
Duchess - Yellow female mix b 3/12/02 rescued 9/18/02
Rifle - Yellow male mix b 12/1/02 rescued 8/8/03
Diamond - Black female b 5/3/05 adopted 8/3/05
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I'd say speculator is investor. As much of investing is speculation.
Myself, I picked collector. I say this even though I've learned some about the minting process, varieties, etc. But when I looked at a VAM book for the first time, I realized that I don't care about knowing everything coin related. I just want to purchase coins that appeal to me and will hold value. So while I'm all three, mostly I'm collector oriented.
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"No Good Deed Goes Unpunished!"
"If it don't make $"
"It don't make cents""
Coins are most of the time a pretty lousy investment. It would be a lot like considering lottery tickets as a sound investment.
I agree that coins are not a great investment, but not with the lottery ticket analogy.
Over long periods of time, truly rare coins may appreciate in value. That said, I expect that most coins do not make money for their collectors/investors. Over hundreds of years, the price of gold generally tracks inflation. 400 years ago, an ounce of gold bought you an average man's suit. Today, an ounce of gold buys you an average man's suit!
Lottery tickets are not investments and their value is zero immediately after you buy them, with the rare exception of the winning ticket. Even if you bought high supply/low demand coins for a high price, chances are you could sell them again and get something for them. At the very least, you could spend them.