Is the collecting of pop top coins of fleeting benefit, while the value of numismatic books is never

Longacre

I was reading the new Dave's Notes. In it, he has some interesting comments. Among them are his reference to purchasing coins and the benefit (psychological) that you get from them, as compared to spending the same amount on numismatic books and the benefit that you get from those. I pasted his comments below.

Do you agree that the "value" of a newly purchased coin is somewhat fleeting, while the value of a few numismatic books far exceeds whatever fleeting psychological value a coin may or may not have? I tend to agree with QDB, although I think I would get a lot of psychological pleasure if that 1913 nickel was sitting in my safe deposit box.

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"I should also mention the increased availability of information. During the past year Whitman Publishing (of which Mary Counts is president, I am numismatic director, and Dennis Tucker is publisher) has put out a virtual bookshelf of new titles on different subjects. Each of these add to the enjoyment of anyone who reads them. Nowhere in our hobby can more satisfaction, knowledge, and enjoyment be derived than by spending a couple hundred dollars on a nice group of books. The same amount spent on a rare coin is enjoyed for a flash, then forgotten when the coin is tucked into an album or safe deposit box. However, books endure. Scarcely a day goes by without my receiving a letter from someone who has delved into one of my books—The Expert’s Guide on Collecting & Investing in Rare Coins being a favorite—and who has commented that it has changed his or her collecting interests, direction, or other aspect, always positive."

obversity

This was quite a coincidental post for me. Just yesterday I picked up a couple more coin books for my library and realized that I've bought more books about coins than coins themselves since I started this hobby a few years ago. Perhaps I'm a book collector in numismatic clothing.

Longacre

<< <i> Perhaps I'm a book collector in numismatic clothing. >>




It is a fate worse than death.

DeusExMachina

<< <i>Do you agree that the "value" of a newly purchased coin is somewhat fleeting, while the value of a few numismatic books far exceeds whatever fleeting psychological value a coin may or may not have? I tend to agree with QDB, although I think I would get a lot of psychological pleasure if that 1913 nickel was sitting in my safe deposit box. >>



I think this depends but it is an interesting observation. I have found that when I finally locate a coin on my wish list, it tends not to be "fleeting." The impulse buy coin(s) tend to gather dust and they definitely do not retain their psychological value like a good book does.

AuldFartte

I agree with his assessment. The value of the knowledge found in books is much longer lasting than the initial enjoyment of purchasing a coin.

DaveG

I can understand how, for QDB, with the size of his checkbook and his years of experience, purchasing a coin (no matter how rare) is over "in a flash" - there isn't a rare coin that he hasn't seen (at least twice) and with his retail and auction presence, the coins come to him.

But for a "regular guy" like me, the thrill is in the hunt and the hunt can sometimes take years, as I save up for a special coin, view a few of them in person to see what the coin looks like, talk to specialists about the availability of the coin, decide whether to fly to a large show/auction or have a dealer bid for me, etc., etc. Or, the thrill is in wandering the floor of a coin show, waiting for a coin to jump out and surprise me.