I don't read all the threads that are listed here. I don't expect many of you read them either. I pass on those that I have little interest in. That's what you people should do who don't collect Modern coins, pass up the threads that talk about collecting them. I can't see that it does our hobby any good to stop and criticize someone for collecting a modern type coin that we ourselves do not collect. Each to his own to collect the coin of his choice - it's a personal freedom!
Monster Wavy Steps Rule! - 1999, WSDDR-015, 1999P-1DR-003 - 2 known My EBay Store/Auctions
I can't see that it does our hobby any good to stop and criticize someone for collecting a modern type coin that we ourselves do not collect.
Not once in any of the threads that I started and spawned was anyone criticized for collecting modern coins. I find it to be disingenuous that this is the message that I get credit/blame. From the very beginning, I was complimentary to some of the modern coin collectors I admire and as the discussion unfolded, I have added others to this list. Please, do not put your words in my mouth. My feet are already in there, and there is not enough room.
Collecting coins for some forty years I have put away many rolls of coins from the early sixties. We had a family business back then and when my Mom would get rolls from the bank and she would say to me "Maybe you would like to keep these they are brand new"
Because they were pretty looking new silver coins I didn't have the heart to spend them. I saved them and they eventually wound up putting them into the safety deposit box. I haven't really looked close at them since that time. All I remember is that they looked pretty flawless back then to me. 1964 Kernnedys and 1964 and earlier dated rolls of Washingtons and Roosevelts. I also saved many uncirculated Lincoln cent rolls.
After reading all the interest and profits to be made in some of these issues which were pretty much cosidered as being common and thought of as being no more than bullion through the years I will now have some fun going through these rolls in the future and checking them for high condition. Thanks to the input on these boards on moderns I am an old dog learning new things. Who knows what I may be sitting on...
<< <i>Don was correct when he told me: I don't get it. After much thought, that is the root of the problem. I don't and probably never will. I do understand the search for great coins in rolls, mint sets, etc. I probably would enjoy it, if I knew what the heck I was looking for!
Let me tell you something else. I don't get this toning thing, either. I don't get this VAM thing. There are a lot of things I do not understand, many of which I do not care to understand, some of which I am not smart enough to understand, and some of which I am too lazy to take the time to understand.
What I do understand is that everyone has the right to collect coins (beer bottles, baseball cards, peep show tokens, or whatever) and enjoy their hobby any way they want to.
Dealers have the right to charge whatever the market will bear for their product, so long as they do not misrepresent the product or otherwise defraud the buyer. Good dealers, in both, will offer a two-way market and be fair to their customers when buying and selling.
Just like modern coin prices might go down over time, ask someone who recently purchased an MS-63 1865-S $20 what has happenned to the value of their coin in the last year.
Enough rambling for now...I have to give Cladking, who is as scholarly about his discussion of coins as anyone else around here is, an opportunity to find fault with my conclusions! >>
Bravo, I'm not a dealer but I c no propblem w/ profit as long as it's done truthfully. I find a 2.7 Million coin, should i sell it for $1000.00? BS btw I collect coin not dates. Modern...Classic....Modern....Classic.....Mod
There are some very painful lessons to be learned in collecting moderns, all of have seen new collectors charge out of the box to buy the very best, highest graded and later to find out that the sets they built were considerably less than what they ran out and paid for it. And yes along the line there was dealer encouragement, registry encouragment to do so. As one example (cuz I have collected them) you would have paid $360-$500 for a proof 70 DCAM quarter 1995-s a year ago. Today these are selling in the $190 range. Now whether this drove away any collectors is another question. At the very least it out to be a wake up call to do a little more indepth thinking before running up the credit card. The same coin can be purchase in an NGC holder for $65.00.
Long after the registry yahoo has worn off, you might find yourself owning a nice set, but one worth on the open market a lot less then you paid for it. Where are the dealers who sold you the coin for $500?
to warn collectors in the fashion you have and in the fashion which is customary regarding Modern Coinage is a bit disingenuous and does a real disservice to them. it presupposes that Moderns are risky and Classics are safe. we both know that the truer picture is that both segments have their risk and the real key is education, awareness and avoidance of the temptation to rush in, whether that's for a quick buck or a shot at glory. i find it disturbing that those who want to warn about the dangers of "losing your shirt" over Moderns have so conveniently forgotten the painful memory of the late 1980's and the early 1990's. while it is usually pointed out that the big losers then were investors, that's only partially true. members of this board got caught in that run-up, collectors who knew what they were doing got caught.
a better service we could offer a collector of any experience would be to act slowly and educate yourself before spending money in our hobby. it's not a Modern or Classic coin that causes the loss, it's an uneducated collector who takes a risk he isn't aware of that is closer to the root of the problem, regardless of the date on the coin.
Keets, its not ingenuous at all, its a reality. Its already been pointed out by others including yourself that you can lose your shirt buying coins from any era. The difference is that you probably won't find as many 73 CC quarters being made which is one influence on price (the old supply and demand curve) as you will 1995 quarters. Its also a lot easier to tell the difference in grades for the next grade down. Besides you are preaching to the choir here.
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My EBay Store/Auctions
Not once in any of the threads that I started and spawned was anyone criticized for collecting modern coins. I find it to be disingenuous that this is the message that I get credit/blame. From the very beginning, I was complimentary to some of the modern coin collectors I admire and as the discussion unfolded, I have added others to this list. Please, do not put your words in my mouth. My feet are already in there, and there is not enough room.
Collecting coins for some forty years I have put away many rolls of coins from the early sixties. We had a family business back then and when my Mom would get rolls from the bank and she would say to me "Maybe you would like to keep these they are brand new"
Because they were pretty looking new silver coins I didn't have the heart to spend them. I saved them and they eventually wound up putting them into the safety deposit box. I haven't really looked close at them since that time. All I remember is that they looked pretty flawless back then to me. 1964 Kernnedys and 1964 and earlier dated rolls of Washingtons and Roosevelts. I also saved many uncirculated Lincoln cent rolls.
After reading all the interest and profits to be made in some of these issues which were pretty much cosidered as being common and thought of as being no more than bullion through the years I will now have some fun going through these rolls in the future and checking them for high condition. Thanks to the input on these boards on moderns I am an old dog learning new things. Who knows what I may be sitting on...
<< <i>...Thanks to the input on these boards on moderns I am an old dog learning new things. Who knows what I may be sitting on... >>
Cool, it looks like us modern folk have reeled in an old timer.
<< <i>Don was correct when he told me: I don't get it. After much thought, that is the root of the problem. I don't and probably never will. I do understand the search for great coins in rolls, mint sets, etc. I probably would enjoy it, if I knew what the heck I was looking for!
Let me tell you something else. I don't get this toning thing, either. I don't get this VAM thing. There are a lot of things I do not understand, many of which I do not care to understand, some of which I am not smart enough to understand, and some of which I am too lazy to take the time to understand.
What I do understand is that everyone has the right to collect coins (beer bottles, baseball cards, peep show tokens, or whatever) and enjoy their hobby any way they want to.
Dealers have the right to charge whatever the market will bear for their product, so long as they do not misrepresent the product or otherwise defraud the buyer. Good dealers, in both, will offer a two-way market and be fair to their customers when buying and selling.
Just like modern coin prices might go down over time, ask someone who recently purchased an MS-63 1865-S $20 what has happenned to the value of their coin in the last year.
Enough rambling for now...I have to give Cladking, who is as scholarly about his discussion of coins as anyone else around here is, an opportunity to find fault with my conclusions! >>
Bravo, I'm not a dealer but I c no propblem w/ profit as long as it's done truthfully. I find a 2.7 Million coin, should i sell it for $1000.00? BS
btw I collect coin not dates. Modern...Classic....Modern....Classic.....Mod
Thank You
SilverDollar
Long after the registry yahoo has worn off, you might find yourself owning a nice set, but one worth on the open market a lot less then you paid for it. Where are the dealers who sold you the coin for $500?
to warn collectors in the fashion you have and in the fashion which is customary regarding Modern Coinage is a bit disingenuous and does a real disservice to them. it presupposes that Moderns are risky and Classics are safe. we both know that the truer picture is that both segments have their risk and the real key is education, awareness and avoidance of the temptation to rush in, whether that's for a quick buck or a shot at glory. i find it disturbing that those who want to warn about the dangers of "losing your shirt" over Moderns have so conveniently forgotten the painful memory of the late 1980's and the early 1990's. while it is usually pointed out that the big losers then were investors, that's only partially true. members of this board got caught in that run-up, collectors who knew what they were doing got caught.
a better service we could offer a collector of any experience would be to act slowly and educate yourself before spending money in our hobby. it's not a Modern or Classic coin that causes the loss, it's an uneducated collector who takes a risk he isn't aware of that is closer to the root of the problem, regardless of the date on the coin.
al h.
al h.