A really good collection takes dicipline
Bear
Posts: 18,953 ✭✭✭
Most of us collectors tend to ramble around in our collecting
habits. It is fun buying coins, even if the purchase does not always fall
within our collecting areas. It is not unusual for collectors to make dramatic
changes in what we collect, the grades of what we collect and the aspects of toning
vrs snow white. The truly great and successful collectors all have a well planned stategy
of what they wish to achieve and the strict dicipline to carry it out. I must admit that for the past
few years I have just rambled around nibbling here and there just having a good time. Unfortunately,
such a course of collecting opens one up to frivilous purchases which one regrets within a reletively
short time. These short term purchases are usually sold at a loss that can nibble you to death, like a
thousand duck bites. While I have assembled many top flight and beautiful coins that have remained
the core of my collection , I have recently determined that purchasing dicipline is necessary and of great value.
I have selected the type, grade and appearence of the coins I wish to collect and will now attempt to refrain from
impulse buying.For the average collector, sound purchases, held for an extended period of time seems to make the
most sense. Purchases must be planned to fit in with ones collecting strategy and for the most part, adhered to.
Regardless of ones age, we all mature in our hobby at our own rate. After one runs into the wall a number of times,
you really do learn to avoid charging wildly in a hobby that is both entertaining and dangerous.
habits. It is fun buying coins, even if the purchase does not always fall
within our collecting areas. It is not unusual for collectors to make dramatic
changes in what we collect, the grades of what we collect and the aspects of toning
vrs snow white. The truly great and successful collectors all have a well planned stategy
of what they wish to achieve and the strict dicipline to carry it out. I must admit that for the past
few years I have just rambled around nibbling here and there just having a good time. Unfortunately,
such a course of collecting opens one up to frivilous purchases which one regrets within a reletively
short time. These short term purchases are usually sold at a loss that can nibble you to death, like a
thousand duck bites. While I have assembled many top flight and beautiful coins that have remained
the core of my collection , I have recently determined that purchasing dicipline is necessary and of great value.
I have selected the type, grade and appearence of the coins I wish to collect and will now attempt to refrain from
impulse buying.For the average collector, sound purchases, held for an extended period of time seems to make the
most sense. Purchases must be planned to fit in with ones collecting strategy and for the most part, adhered to.
Regardless of ones age, we all mature in our hobby at our own rate. After one runs into the wall a number of times,
you really do learn to avoid charging wildly in a hobby that is both entertaining and dangerous.
There once was a place called
Camelot
Camelot
0
Comments
Amen.
and it sets us apart from practitioners and consultants. Gregor
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Stop
double
spacing!
Great transactions with oih82w8, JasonGaming, Moose1913.
I would add to Bear's comments: Make sure that you don't get in a cash poor position that would lead to emergency sale of coins.
Link to 1950 - 1964 Proof Registry Set
1938 - 1964 Proof Jeffersons w/ Varieties
I must admit that for the past
few years I have just rambled around nibbling here and there just having a good time. Unfortunately,
such a course of collecting opens one up to frivilous purchases which one regrets within a reletively
short time. These short term purchases are usually sold at a loss that can nibble you to death, like a
thousand duck bites.
I resemble that remark. Fortunately (or unfortunately), the pain from the duck bites heals quickly. If the pain lingered longer, the behavior would be easier to modify.
Things to consider...
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
I've been on a mission trying to find a matching dime. The only nice 1911 Barber proof dime I've seen in 2 yrs was Scher's in last night's auction -- way, way too rich for me though. Through several LBs and numerous auctions, no one has had one. While my proof set will/should never be called a top collection, it does take focus and discipline.
As I wait for the more important "registry" coins, in order to quell that thirst to impulse buy -- I simply do album sets. Nothing expensive or fancy, Jeffs, Roosies, Ikes, JFKs, Quarters ect in order to spend as little as possible while waiting, but still feel as though I'm a collector.
TPN
Now I settled into putting a Barber Half set together, 1oz world bullion coins sets together & type gold set (Liberty/Indians time period) when cash permits.
I think that you should not concern yourself with sticking to one thing if you like something buy it.
completing their set. For me I have no discipline. I start working on one
set and get tired and start working on another one. I tend to buy coins
from impulse and then wonder if I should have done something different
after. Collecting coins is great fun for me, but I'm still so confused!
U.S. Nickels Complete Set with Major Varieties, Circulation Strikes
U.S. Dimes Complete Set with Major Varieties, Circulation Strikes