I stayed home last night

SYRACUSIAN · January 1, 2006 4:00AM

it was New Year's eve and I felt like staying home and taking a look at how things went in 2005. One of them was coins.

I think I have changed a lot my perception of the hobby. I often said to this forum that the Greek market has become excessively competitive, even unhealthy most times and very expensive. Lots of new blood in a hobby where the supply of good coins is very limited. The other day I was viewing the coins of our local club's auction and responded to a question of a collector who was obviously a newcomer to the hobby. It turns out he was the buyer of the very rare 1930 10 drs NGC PF63, a coin that every collector is missing, sometimes even in MS, just because he happened to be at the right place the right moment and with his pockets full.

Hits under the belt, obsession over ownership, top pops (!) are the new phenomenae of the Greek market. I therefore decided two years ago, to keep the very basic core of my collection, the really rare and nice pieces and instead get into an ephemeral as Don would say game, of ownership and reselling of coins I already have and know well, leaving the pursuit of the ultra expensive rarities to others. Those who set up programs to receive an automatic email the minute NEN posts a new Greek coin (two people had recently the same item in their basket, newly listed and sight unseen),or those who browse every single country's ebay with similar alerts for the newly listed items and the BINS.

I'd rather look at all this from somewhere else, such as the Darkside. This year alone I handled more than a 300-400 new coins, perhaps more,but can only think of very few keepers,most of which from Switzerland , a new secondary direction for me, and a lot of coins that came and went, to local friends, to our swap, consigned to other Darksiders with a lot of PMs and good friends and temporary partnerships that make the hobby once again enjoyable, all this in my spare time.I escaped the nightmare and went into a dream.The same dream I will continue next year along with finally a US coin show I hope.

If there's something you wish to share about the new year, not the common resolutions we never keep, feel free to do it here, we'd love to hear it. Happy new year to all.

Aethelred · January 1, 2006 4:19AM

Very good points Dimitri! Much of what you say is also true of the British market. I think 2006 might be a good year to pause and consider my goals.

cosmicdebris · January 1, 2006 4:24AM

Excellent observations. I beileve many of us feel the same way. As I now mainly concentrate on only really nice Conder Tokens and Goetz Patterns.

MacCrimmon · January 1, 2006 4:38AM

Here's wishing a very Merry & Prosperous New Year to one and all.

I've spent the past two weeks dining on roast, Pagan hams (local Virginia ham), crab dip, crabcakes, shrimp, lobster, and many a fine dark (side) ale.

So, I stayed home too.

For the new year ahead this poor auld church mus will be moving very selectively in the shadows. Alas, a poor mus has little to spend on fine Victorian delicacies, and few are to be had anyway. So, some imaging projects, inventory alignments, price analysis, and keeping a wary eye on all things "Dark".

I'll be wishing my poor mus eye doesn't fail me, and maybe I'll come across a few more uber gem Swiss toners which are one-of-a-kind, irreplaceable electric dazzlerss .......the question begs - - Will I have to venture to Switz. to do so?

SYRACUSIAN · January 1, 2006 4:42AM

As I live in the country the coins of which I collect, I get to see many people in person, some are very knowledgeable ,others are nice and eager to learn,but many are behaving incorrectly sometimes. We have established a silent Darkside code of ethics here, which I cannot pretend to ignore, for instance I will never ask a seller to close an auction early by making him an offer because I want the coin, nor will I accept one as a seller, but people still do it. I will try to be accurate and provide the best photographs and assistance, along with an accurate description when I'm selling and the same thing takes place when I'm consigning coins, but many people are still in the L@@K era and offense me as a bidder. So in a few words, the Darkside is a great little niche, maybe we have to go to the outside world to find what we need, but the integrity follows the majority of us I believe and I am grateful for this, I have seen big changes in me since I joined.

ajaan · January 1, 2006 4:55AM

I have never found so much enjoyment in collecting coins as I have with my circulated Canadian sets. Perhaps it is having a goal to obtain, that is, completing the set. I don't give a rat's ass that some of the coins grade only good or have problems. They have character. The satisfaction of completing a set is great.

coinkat · January 1, 2006 5:02AM

Interesting thread and thoughful as usual. I know very little about the Greek coin market, but it does sound competitive. While this is not on point, but there is something to be said for casting a big net and throwing back those coins that don't meet your standards. I continue to find my best coins when I am not looking for them specifically... it makes this far more enjoyable as a hobby and it really helps with managing expectations and disappointments when certain coins continue to elude me.

oldshep · January 1, 2006 5:16AM

Dimitri - Well said, as usual. Your take on the Greek coin collecting arena is the same as mine on the U.S. collecting hobby. The concern is not with the coins themselves but the competion with registry sets and top pops and TPG numbers.
The darkside is a world of coins and designs that are unique and varied, I will stick to this area as long as I still love a well designed coin or medal and the thrill of discovery.
Shep

Clankeye · January 1, 2006 5:58AM

<< <i>I have never found so much enjoyment in collecting coins as I have with my circulated Canadian sets. >>

Don, I congratulate you on that, and I think I understand very much the motivation for approaching the hobby that way.

It's kind of like the way I collect--and then sell--the Carver commemorative sets over and over again. I like the involvement of the hunt--the challenge. And when it's over, I need to feel that involvement again. So I start over.

I will say that I am experiencing a feeling that less and less do I actually need to own certain coins. I have resisted more than a couple times since I started over to buy the flashy, way-over-bid color coin. I have gotten to the point where I can predict the future. I would buy the coin, feel the rush of ownership, enjoy it for a while, but then basically feel unfullfilled.

So my resolution as I continue on the hobby is to make sure--as much as I can--that every coin I bring into my collection has a sound reason for being there. That there is some meaning to me, and not just a number on a slab or a number in a greysheet or book.

Dimitri, this is a very good and interesting thread. Thanks for starting it, and thanks for the insights into the Greek arena of collecting.

Clankeye

coinpictures · January 1, 2006 6:27AM

Happy New Year to all. I see I'm not the only one who stayed home.

2005 was a return to coin collecting for me after several years off (other vices to steal my money). If I have one New Year's resolution about coins, it's that I need to seriously cut back; I'm spending way too much money. Also (and this will be the tough one) I need to stop being so much of a general DarkSide collector; there's simply too much out there to collect it all... yet I keep trying.

It's just so hard to resist an attractive coin, especially if it appears to be a "good deal." Time to impose some self control.

Don's comments about enjoying collecting circulated Canadian material are great. I wish I could do the same... I just don't like modern coinage. It's the same way with my stamp collecting: collecting modern material would be much less expensive, but I would get no enjoyment from it.

It's funny, but collecting circulated U.S. is how I got started as a kid, but back in the mid-1970s there was soooooo much more to be found in pocket change: wheat pennies were all over the place, early Jefferson nickels including silver war nickels, 90% and 40% silver could be found almost weekly. As a young kid there were still plenty of "finds" to be had. Now it's reduced to seeing how many different state quarters one can obtain. Ehhh... snore.

I also need to take some time to go through the boxes of existing material I have and get organized. Make some decisions on what I'm going to keep, and then jettison the rest to pay for the new coins I want.

Depressing really...

bosox · January 1, 2006 6:29AM

I think, to really enjoy coin collecting, you must have a passion for it. I think most of the darksiders that I have come to know here have it. My passion, started when I was a child growing up in rural Maine, is Victorian large cents of Canada. Over the decades since then I have collected (accumulated) hundreds of them. In my teens, in the 1960's, I would look a Canadian catalogs, and could hardly imagine that Victorian cents existed in "BU", let alone comprehend that I could actually own one. I now own an entire set of them, painstakingly collected over 25 years, as the coins and disposible income became available at the same time. If pushed, I could probably look through my boxes and assemble six or seven complete Victorian sets in varying grades from Fine on up. As I said, it pays to be passionate about what you collect. I hope all of you enjoy what you collect as much as I do.

I respect Shep's opinon of registry sets, but I don't agree with it. I chose to enter my Vicky cents as a registry set for three reasons:

1. Too many really nice sets sit in bank vaults, where nobody other than the owner gets to see them. A registry set with photos makes some inroads to allowing all to see these great sets.
2. Registry sets allow collectors to know where the really nice coins reside, and when somebody else upgrades, where opportunity might knock.
3. I have an ego (does that make me a bad person) and keeping score is interesting.

If you really want to enter the fray on registry sets, go here and look down a few threads.

Link

1jester · January 1, 2006 6:40AM

I'm going to sell 99% of my collection. I won't be buying anything for a while, but I'll still be following the coin scene, and contributing to this forum.

Happy New Year and Happy Collecting to you all!

AuldFartte · January 1, 2006 7:01AM

I stayed home, too

My collecting goals have changed dramatically over the past year. I formerly grabbed anything, lite or DARK, just to own it. I did a nearly complete US type set that way over the previous 18 months or so. I became dissatisfied with how I was approaching the hobby, so I sold the US type set (and the US Large Cents and Half Cents - same kind of "collecting") and I have begun anew with liteside type and have increased focus on the British Victorian and George IV items, with an eye towards quality - NOT quantity. So, this year I might only add a handful of coins to my liteside stuff, and another handful to my British collections, but they will be what I consider "quality" pieces.

Stork · January 1, 2006 10:20AM

Happy New Year to all!! I stayed home too...mostly because I have no life

.

<< <i>Interesting thread and thoughful as usual. >>

In fact reading the wise discussions by Dimitri and many others over the last year have been quite helpful in my enjoyment of the hobby.

I have gone through periods of feeling like I must collect a certain way to have a 'worthwhile' pursuit. However, I just cannot spend the time and effort neccessary to become as knowledgable as many here, or develop a true area of expertise. Nor can I spend the money to fund a 'world class' collection either. Life just doesn't work that way for me right now.

Earlier in the year this caused me a bit of distress as though my way of collecting wasn't 'good enough' or 'worthy enough'. But, with help from reading many of the words here--wise and otherwise

-- I have come to the conclusion that It Does Not Matter. All I have to worry about is what gives me joy in the hobby.

I can have fun with a one-from-every-country collection. I can focus on a Japanese type set without worrying about how soon it is finished and without blowing my budget just to put a check-mark on on a list. I can even have a bit of silliness with my unofficial Naked Guys/ Naked Guys on Horses collection (ya'll can keep your BBLs). Someday I will hopefully have the time to devote some study to my Mommy medals and the Japanese coins in particular, but until that time I will just enjoy them

.

I very much appreciate the time and effort so many over here put into their collections and educations, and am grateful so many share their knowledge (and pictures!!).

So for my resolution....hmm (last year it was to floss more and I am happy to say I was sucessful), so how about-- "I will stick with what I like and not beat myself up over self-invented lacks. I will remember that my collection is ever evolving and I don't have to buy everything and learn everything this year, or next year for that matter". My other resolution was to change my hair color, but I cheated and did that on the 31st.

Cathy

shirohniichan · January 1, 2006 10:37AM

So my resolution as I continue on the hobby is to make sure--as much as I can--that every coin I bring into my collection has a sound reason for being there. That there is some meaning to to me, and not just a number on a slab or a number in a greysheet or book.

Wise words indeed.

Last year I ended up with other hobbies taking money away from coins (especially my newish car), so my budget has been drastically curtailed.

This year I need to do two things:

1) sell what doesn't belong to any collection I intend to continue pursuing, and

2) organize and appreciate what I already have.

There are some coins I still need for my silver George V British commonwealth collection that I have not looked for. Much of my lack of enthusiasm has to do with how busy I have been at work, but the rest of it has come from my restricted budget. Once I sell of the peripheral coins from my various collections I can save up for and pursue the missing pieces. As my collection approaches completion I want to research the backgrounds of the coins to better understand them, the countries of their origin, and the period in which they circulated.

I will probably end up reading much more than buying this year.

wybrit · January 1, 2006 12:19PM

There have been good thoughts put down here.

Like many others, I will focus more on quality than quantity. There will be a few significant purchases and almost no impulse buying. 50% or more of my holdings in several denominations will be sold over the next 12-18 months in order to finance this approach.

I will collect and keep the images of the pieces I have bought and held, so I will still have a collection of sorts. I will focus more on farthings, halfpennies, sixpences and shillings. There are a lot of coins just in those denominations that can keep me occupied in the coming years.

Happy New Year to all of you and good hunting!!

Refrema · January 1, 2006 1:07PM

SYRACUSIAN has written a great message that has had me thinking all afternoon. The responses have also been great, and have made me think even more about just where I am going in numismatics.

I also stayed home last night like almost everyone here and a few of my local collecting friends.

I started with US coins, but to be honest, I have not even looked at any of them in the last couple of years. They will be sold during the next year or two, since they no longer have any interest for me.

My Swedish Plate Money interest is stronger than ever, but due to the cost of the rarer pieces, I have done more reading, research, and study about the times and what was going on in Sweden while they were minted. In many ways, it is useless information, but I enjoy learning about them. My Library has expanded almost as much as my coin collection, but you can never have too many books.

My collection of Viking Ships is still one of the more pleasant sets of coins to look at, but finding new ones that I don’t already have is harder as time goes on.

I expect that during the coming year I will purchase less coins as far as quantity, but a few will cost me quite a bit more than I spent in years past. I will also be thinning out the coins that do not hold a place in my collecting “theme”. (What ever that is)

Happy New Year to everyone,

Bob

nicholasz219 · January 1, 2006 2:59PM

Hi All, and Happy New Year!

Well, unlike you bums, I had to work last night on NYE! And then I enjoyed the fine company of a lady (girlfriend) who took my mind off of everything.

But now I will lie and say that I was thinking about coins at the stroke of midnight since I am thinking about them at the stroke of midnight the following day.

Syracusian and each of the posters contribute excellent thoughts to this thread and I would care to elaborate on a few of those points from my perspective.

I too have felt the need in the past to focus only on one collection or some insanely priced coin to get some sense of worth for my collection. So, as is my custom, I bought scattershot across the spectrum buying nice pieces with very little or no connection to one another. While that was entertaining in the short term, it was dissatisfying in the long term. Those certified coins are mostly what I sold in the years of my adolescence when I didn't collect at all.

Then as I have delved even deeper into collecting this year with my return to numismatics, I have found a few simple truths to be self-evident:

1) Yes, it is better to invest hard earned money into a few higher quality pieces than a bunch o' crap in general. But the key to this hobby is enjoyment and darn it, if you find a lot of British Victorian Pennies for two bucks, you would be a retard not to buy them if they bring you pleasure. There is room for both.

2) I do find it is much more satisfying to strive to complete collections even if you have several going at the same time. With my return and subsequent involvement in the Ebay world I found that I was able to buy tons of Russian for weeks on end only to be hit with a major drought for several weeks afterward. It was during that time that I discovered this forum and some other areas of collecting I could work on when Russian material was lacking.

I think I have at least five collections going at this point and I am happy with each of them for different reasons. Every time I made an addition to any of them I am very proud and feel a small sense of accomplishment. I may never finish any of them, but the journey of searching for coins, finding them, bidding, buying and receiving them has really made this hobby worthwhile for me.

3) Since everyone apparently is selling off their collections this new year, I will be happy to buy everyones' material at a fraction of the cost when the bottom drops out of the market which becomes flooded with high quality Victorian coinage. Yes I know, I am a great guy.

4) I am really happy I met everyone here. You guys are great and I have really enjoyed talking, trading and learning from each of you. I look forward to this year more than ever as a part of the darkside.

Sincerely,

Nick

FilamCoins · January 1, 2006 5:43PM

Great comments and perspectives. Syracusian, collect what is fun and affordable. For most of us, coin collecting is a hobby. Hobbies are for fun and relaxation. Don't let the bas

tards get you down! No matter what happens, maintain your honesty and integrity. People will love and respect you for it. Oldshep, "the thrill of discovery" ... you said it!!! One of the main reasons I enjoy this hobby. Besides the beauty and the history, it's the challenge!!! Clankeye, "that every coin I bring into my collection has a sound reason for being there" ... absolutely! Couldn't agree more. Collect with focus. Collect with passion. Bosox, "too many really nice sets sit in bank vaults, where nobody other than the owner gets to see them" ... exactly! Why even collect if you can't share and enjoy with others? (unless you're an investor, which means you're not a collector, or you're completely antisocial, which is OK, but not my thing). Auld & Wybrit, "with an eye towards quality - NOT quantity" - you're right on there! Couldn't agree more! Stork, "one from every country" - great idea! Just started mine a few months ago. Got the idea right here on this here forum. Shiro, "sell what doesn't belong to any collection I intend to continue pursuing, and organize and appreciate what I already have" - my collection is too small, but that's exactly what I'd be doing if I had a large, cumbersome holding. Nick, "You guys are great and I have really enjoyed talking, trading and learning from each of you" - Well said! I feel the same way. Happy New Year and most important, relax, enjoy life and appreciate what you have (even if they are not top pops)! As for me, continue date collecting mint state U.S. Philippines (about 70% there), predecimal New Zealand (love the country, plan to retire there), in honor of my grandfather, 2nd German Empire 10 Mark gold coins, and my latest endeavor, one gem from every country.

1jester · January 1, 2006 7:09PM

Since a few people have asked me to elaborate on my previous comment, I'll add a bit.

I have collected coins for more than 30 years, and my current collection is the culmination of 8 years of the most concentrated effort and study (not to mention exhaustive financial dedication) I've ever invested in numismatics. I love the hobby, and I love coins. And I love the people involved (with the exception of the occasional crass detractor, but in general, the people here are tops in my book). Perhaps I've been experiencing a bit of burnout, and would like to ease up and allow the course of life to lead me in other directions. I have other interests in life as well - indeed passionate hobbies - such as photography and automobiles. Too, I have other financial goals, and I feel directed to allocate my resources toward some other pursuits.

I have completely enjoyed my sojourn here on the Darkside, and I've learned a lot, and benefitted immeasurably from the people here, and for that I thank each and every one of you.

Based on past experience, I know I will return to this arena before too long, so don't be worried!! I'm not leaving (just checking out for a while).

Clankeye · January 2, 2006 12:02AM

1Jester, I know for a fact that you could sell every coin you have, and stay away from the hobby for years. But... one day, sometime, someplace, you would see a coin... and it would start again.

I believe that the people who truly are captured by the little round orbs have it built into the system. We are wired for it. It's almost The Hotel Coinifornia. You can check out--but, you can never leave.

So, you may sell your coins. And you may take a breather. But, numismatics is in your blood. One day that coin will call. And if you buy it--more will come.

If you are feeling a little "burnout" (and I can surely understand that) divesting yourself of some coins and stepping away for awhile may be absolutely the best thing you can do. You may find you come back with a vengence.

I really like this thread. I don't want to end yet.

Clankeye

1jester · January 2, 2006 12:41AM

<< <i>1Jester, I know for a fact that you could sell every coin you have, and stay away from the hobby for years. But... one day, sometime, someplace, you would see a coin... and it would start again.

I believe that the people who truly are captured by the little round orbs have it built into the system. We are wired for it. It's almost The Hotel Coinifornia. You can check out--but, you can never leave.

So, you may sell your coins. And you may take a breather. But, numismatics is in your blood. One day that coin will call. And if you buy it--more will come.

If you are feeling a little "burnout" (and I can surely understand that) divesting yourself of some coins and stepping away for awhile may be absolutely the best thing you can do. You may find you come back with a vengence.

I really like this thread. I don't want to end yet.

Clankeye >>

The Force is strong in this Bard....

You're absolutely right, Dr. Clank!!

Avarel · January 2, 2006 2:11AM

Hmmm, guess I was one of those folks that stayed out to the wee hours to see some great blues and ax work.

I found 2005 to be an very down year in aspects of collecting. The trend of quality material in the market for silver 3ds continued to dry up and I dont see any indications of quality reappearing, so continuing a quest that is by its own definition lifelong (every GB silver 3d issued in the highest quality I can purchase) without an occasional success (until fall when I struck gold and found 4 I couldnt find anywhere) was discouraging. Then having Wybrit confirm a variant I hadnt noticed when I was near closing a 3d series (2 different silver contents for 1920 turned into its own search and an oddball way to tell the difference) went from utter frustration to a great hunt I still continue.

Personally the best vehicle I've found in 2005 was simply to pursuing smaller collecting wants for kicks. I'm back to completing my silver proof comms set of Canadian dollars. Not at all a difficult thing nor an expensive proposition but I love opening up those black cases with a snap and seeing a blast white frosted coin. I have three or four separate little off collections of US/GB/SA/Can going that stop and start depending on how the world of 3ds is going and I get just as much charge out of buying some 3-4$ Regina commerative from Canada as I did finally securing a 1928 silver 3d.

Wybrit, I see that 3ds will be leaving your collection, feel free to track me down on securing a very happy place for some in 2006. They should stay in the frozen tundra!

Success to each of you in your endeavors in 2006. Now back to my regularly scheduled lurking in the shadows.

Av

I stayed home last night

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