Do you know a collector who collects and never sells.............

SanctionII

.......or are you one of these collectors?

I understand there are collectors who will only collect and who will never dispose of any coin. Sort of an OCD/hoarder type thing. For those types of collectors, I assume many collect widgets. However, I suspect there may be collectors like this who specialize in higher value, less available coins (i.e. 18th and early 19th century gold or silver). It would be quite interesting to have an opportunity to see a collection of this type of material (or similarly rare/valuable stuff) that was built over a collecting lifespan of 60+ years that has never seen the light of day.

Has anyone ever had the pleasure of seeing this type of collection? If so, regale us with the details.

WTCG

There are plenty of people who only buy but have never sold a single coin. I know of somebody who has been an active collector for over 50 years and claimed to have never sold a single coin.

speety

Neither my father nor i have ever sold a coin but that might change in the near future. I have a chance to make $2000 on a coin and that's a lot of money for a 17 year-old!

Edited to answer 3 ?s

1. I collect bust halves and have a 7070 going. My dad has a set of liberty nickels in MS-64 and is working on a XF-AU set of seated dollars (see below).

2. I don't know yet...that's a loooongggg way away. I hope my dad is planning to leave it for his heirs

3. We collect together and i actually know/research more about coins then he does (he has a way larger check book though ) so they'll probably stay in the family for a long time.

fc

i have been collecting comics for a long time.
i bought and sold then when i was young.

i was very curious what the group of half eagles i bought
over the years, that i grew out of, would fetch back on ebay.

i am quite pleased to say that nice half eagles retain their
value in this current market. selling is a good way to learn
if you you are getting BURIED in your purchases.

if you have never sold a coin, i hope you have an excellent eye ;-)

Rickyroooo

Yep, That would be Me

CoinHunter2003

Me too!

OKbustchaser

I have been collecting since the early 60's and have yet to sell a coin. I have traded off several over the years, though. I foresee no reason why I would sell any in the future.

SanctionII

For those who have responded indicating you collect but do not sell, I have three questions:

#1. What types of coins do you collect?;

#2. Are you planning on not selling ever and leaving the collection to your heirs; and

#3. If your answer to #2 is yes, what is the reason why you plan to never sell and leave the coins to your heirs?

Thanks, SanctionII.

tahoe98

i chicken out on selling...........keep on collecting tho..........nice to see some of my coins increase in worth as time passes................

jonathanb

After 20 years, it finally sunk in that I can buy much more stuff if I also sell things. For calendar 2006, I expanded my collection significantly and was $100 ahead for the year as a whole. That means I can try to do the same thing this year. :-)

coinlieutenant

Oh yeah...

LanLord

I have collected since the late 60s and have sold about 10 coins total.

ghh101

Mostly collector and I sell very very few coins.

Gabe

kkce

I guess I'm one of those.

My grandparents gave me some books of coins they collected (there were Peace Dollars, Walking Liberties, wartime pennies etc.) but I didn't take the hobby any further until 1999 and came in on the State Quarter program. The goal was to collect a full set for each of the kids. Then I had another child in 04 and wanted her to have something so I started buying the commemoratives. Now I have 5 subscriptions for stuff from the Mint and I guess I'm one of those modern junk collectors but modern junk becomes old stuff at some point doesn't it? I bought the Spouse coins too and decided I really like old Mercury dimes and Indian Head Cents. This is getting dangerous.

I know enough about coin collecting to fill a thimble so I've been reading here for many months and finally registered. Why won't I sell? I dunno. My main hobby is early 20th century glassware. I bought every piece I have because I really really liked it, saved pennies for months to own it, worked hard for the collection, and can't imagine selling it. The same goes for my coins. Guess I'm one of those emotional female types. I want my kids to have these things and carry it on with their kids as part of their heritage or something that reminds them of their childhood or me, something worthwhile to carry on. I love collecting. I love going to the shows. I love reading about my pieces, coins, etc. And, I like the idea of owning something really nice. But, sometimes I use the flip price as justification for the purchases. It's easier to fork out the dough when I tell myself it's an investment.

Anyone every find a good coin at the common flea market? There's one in the area. I always look at the coins but never bought one because I'm still too uneducated to grade them on my own.

Kathy

BobGreene

I've never sold a coin and have no intention to anytime in the near future. I collect Indian and Lincoln cents, classic commems, and U.S. type. Every coin I buy is for the purpose of filling an empty slot and I'm very picky about the coins I buy. I have no reason to sell any of my coins.

ldhair

I don't wish to pay the taxes if I sell and I won't ever need the money.
#2 will wipe out the taxable gains.

tahoe98

<< <i>I don't wish to pay the taxes if I sell and I won't ever need the money.
#2 will wipe out the taxable gains. >>



you mean you pay taxes?

OKbustchaser

<< <i>For those who have responded indicating you collect but do not sell, I have three questions:

#1. What types of coins do you collect?;

#2. Are you planning on not selling ever and leaving the collection to your heirs; and

#3. If your answer to #2 is yes, what is the reason why you plan to never sell and leave the coins to your heirs?

Thanks, SanctionII. >>



1. I started in large cents, but since about 1974 I specialize in capped bust halves but delve into all (silver) bust and seated material. I also lack 2 years (1796 and '97) having a complete half dollar year run 1794 to present.

2. Yes, I am planning to never sell and will bequeath my collection to local coin club to be auctioned for future support of the club. (Already written into will.)

3. Why would I want to sell them? If I didn't want them more than the money I spent then I would not have bought them in the first place.

DoubleEagle59

I might get a lot of criticism for this statement, but I believe a collector that never, ever, sells a coin in his/her lifetime, is just wasting money buying coins. Their coin collection may be worth $50,000, but if you're never going to sell a coin, then it's worth a big fat ZERO to you!!
Who gets the coins when you die? Your children may hold onto them, even start collecting . Who knows? But eventually the grandchildren receive them, with no sentimental attachment and wind up selling them for 10 cents to the dollar.

I think at some point, when a good profit has been reached, sell your coins. Maybe not all, but benefit from the profits made and turn that into more coins or something else you can enjoy.

Joflax

Me

coinlieutenant

I call them numismatic black holes.

Man

I don't sell.



<< <i>For those who have responded indicating you collect but do not sell, I have three questions:

#1. What types of coins do you collect?;

#2. Are you planning on not selling ever and leaving the collection to your heirs; and

#3. If your answer to #2 is yes, what is the reason why you plan to never sell and leave the coins to your heirs?

Thanks, SanctionII. >>



1. I collect widgets and circulating and foreigns, basically very low end. I would like one of every coin ever made and a perfect cent or a worn cent is the same to me.

2. No, I will sell to buy my dream home/cabin and a nice chunk of real estate.

3. Fraking heirs better earn enough to live on 'cause they ain't gettin' nutin' from me.

OKbustchaser

<< <i>I might get a lot of criticism for this statement, but I believe a collector that never, ever, sells a coin in his/her lifetime, is just wasting money buying coins. Their coin collection may be worth $50,000, but if you're never going to sell a coin, then it's worth a big fat ZERO to you!! Who gets the coins when you die? Your children may hold onto them, even start collecting . Who knows? But eventually the grandchildren receive them, with no sentimental attachment and wind up selling them for 10 cents to the dollar.

I think at some point, when a good profit has been reached, sell your coins. Maybe not all, but benefit from the profits made and turn that into more coins or something else you can enjoy. >>



Why worry about what they might be worth? I bought them with entertainment moneywith no more expectation of a return than if I had spent the money at a bar. The only reason I care at all what my collection might sell for is replacement value for insurance purposes.

As for heirs selling them for 10 cents on the dollar then I say "Great!! They got exactly what the coins were worth TO THEM!!"

ricko

I collect and have never sold a coin. I collect Buffs, CC Morgans, Commems, modern gold and silver (complete series to date) and other types. I do not sell, because I collect what I enjoy. Will I ever sell? I do not know... not a priority. Cheers, RickO

TwoSides2aCoin

<< <i>I collect and have never sold a coin. I collect Buffs, CC Morgans, Commems, modern gold and silver (complete series to date) and other types. I do not sell, because I collect what I enjoy. Will I ever sell? I do not know... not a priority. Cheers, RickO >>



Coinhusker introduced me to guy at the Omaha coin club, recently. This fella told me he has NEVER sold a coin and he NEVER will.

I cannot help but sell some. People need good coins even if they're widgets.

cvan68

I've sold coins twice - once what I considered to be bulk silver...and that was to get some money to go to a coin show with. The other was selling a group of proof sets 1950-1955 because I was concerned (possibly unwarrented) that where I was living at the time I was running the risk of having them damaged from high humidity...and now I'm living in Arizona! Never like to sell anything though.

coinbuf

I'm one, or close to it. I've sold only a very few coins, and in fact most that I have sold were bought for just that purpose. Perhaps when I'm 60+ it will be a cool collection to view, who knows.

Chris

BECOKA

I wanted to be one who would not sell but now that I have it is a constant work to sell the old and buy the new. Or a constant upgrade. There are only a couple of coins where I have duplicates because I like the look of the individual coins.

This to me is more efficient as over time I have learned what I like and don't like.

21Walker

Well this looks like a good post..first off I collect a multitude of different series. I try to get perfection in each one....ie Frankies for instance........got most W FBL's, extra page with the proofs, more extra holes with the Bugs Bunny variety and finally so far a 61 DDO proof. I am anal with all my collections like this............Rick

mach19

<< <i>I might get a lot of criticism for this statement, but I believe a collector that never, ever, sells a coin in his/her lifetime, is just wasting money buying coins. Their coin collection may be worth $50,000, but if you're never going to sell a coin, then it's worth a big fat ZERO to you!!
Who gets the coins when you die? Your children may hold onto them, even start collecting . Who knows? But eventually the grandchildren receive them, with no sentimental attachment and wind up selling them for 10 cents to the dollar.

I think at some point, when a good profit has been reached, sell your coins. Maybe not all, but benefit from the profits made and turn that into more coins or something else you can enjoy. >>




This is my philosophy also

RYK

<< <i>I might get a lot of criticism for this statement, but I believe a collector that never, ever, sells a coin in his/her lifetime, is just wasting money buying coins. Their coin collection may be worth $50,000, but if you're never going to sell a coin, then it's worth a big fat ZERO to you!!
Who gets the coins when you die? Your children may hold onto them, even start collecting . Who knows? But eventually the grandchildren receive them, with no sentimental attachment and wind up selling them for 10 cents to the dollar.

I think at some point, when a good profit has been reached, sell your coins. Maybe not all, but benefit from the profits made and turn that into more coins or something else you can enjoy. >>



As my son would say, I so disagree with you.

Other than some modern NCLT flipping crap, I have never sold a coin just to book a profit. In fact, the coins in my collection in which I have the largest profit are among my favorites and those that are least likely to be sold any time soon.

I will sell the coins when I am good and ready, and if I do not live until that point, there will be specific instructions for them to be sold for the maximum benefit of my heirs.

09sVDB

I was until a few years ago. Back then I had maybe 1000 coins worth X dollars. Now I have less than 100 worth the same amount. Quality not quantity is the name of the game.

robec

<< <i>IBut eventually the grandchildren receive them, with no sentimental attachment and wind up selling them for 10 cents to the dollar. >>



I think that if you had your grandfathers collection, one that he had started when he was young, you would get considerably more than 10 cents to the dollar. Look at todays prices of Walkers, almost all gold, Morgans and just about any rarity. If your grandfather put $50k toward a collection of these in the 60's it would be worth multiples of that, not a fraction.

Fairlaneman

I buy and sell constantly now. During the early years of collecting nothing was sold. I want to see every dime I can in hand. Its a addiction and sometimes it works out very well for myself and a fellow collector.

Ken

drtom77

I was until a few years ago. Back then I had maybe 1000 coins worth X dollars. Now I have less than 100 worth the same amount. Quality not quantity is the name of the game.

I agree with this philosophy. At one time I had a lot of 90% silver quarters and dimes. These were sold to add to my Morgan collection, since completed and sold to assemble my 1858-1873 seated proof sets (now in progress). By trading up I have more valuable coins of a type that I only dreamed of owning when the whole obsession started @ age 12 with the Boy Scout merit badge.

drtom77

I urge those who collect mdern proof sets and other mint produced stuff, and I guess generic coins in general to sell some of the coins once in a while. I am sure this is the best way to judge how your coins are doing if you are interested in appreciation. Quite a shock to put a group of coins or sets on the block and find out you are getting only a fraction of your purchase price back. Holding onto common coins for a long time will not make them less common, only less new and not more valuable.

gene2393

i only collect and do not sell

gene2393

BECOKA

<< <i>I urge those who collect mdern proof sets and other mint produced stuff, and I guess generic coins in general to sell some of the coins once in a while. I am sure this is the best way to judge how your coins are doing if you are interested in appreciation. Quite a shock to put a group of coins or sets on the block and find out you are getting only a fraction of your purchase price back. Holding onto common coins for a long time will not make them less common, only less new and not more valuable. >>



When talking to people about collecting I usually strongly urge them not to do it for the appreciation. Do it for the joy of collecting and spend accordingly. sometimes it works out sometimes not, having fun, learning and improving how you search and obtain coins is what it is about. I am afraid that with all of the investment minded new collectors there will be a big upset coming and also a big sell off that will hurt the true collector. Or maybe actually help if the true collector can pick up some bargains.

yevrah

I have only sold coins in order to buy another coin. And I have a few gold coins that have been upgraded that may be on the sell list in the future.

I hope to build a nice collection before I sell it in my retirement years. It will be the last of my investments to be liquidated, if at all. If not, it will go to my niece and nephew in Leonardtown, Maryland.

droopyd

My Dad and his late brother never sold a single coin... ever! There's so much stashed away in suitcases and boxes (all low-end of course ) that it would take days to sort thru it all. And since my Dad is not tbhe "finisher" type, this means I'll have a lot to sort thru one of these days.

500Bay

I just hope and would recommend that if a collector does not intend to sell, at least he/she should leave detailed instructions on how to dispose of the collection properly. If no heir is into coins, they will most likely be taken.

I began to sell (in order to thin out the common stuff and buy better coins) a few years ago. I went from several thousand coins to less that 50. It is a sobering experience. The collector would be advised to sell some of his/her common stuff to get a reality check on what their coins are worth when selling.

23Pairer

I have a patient who broke a tooth, and I magnanimously offered to repair the tooth in trade for a similarly priced coin that he would like to part with. He stated he has never sold any coins, and this is a guy who recently bought a proof 64 1886 $3 gold. I was hoping to get a glimpse into the vault!

blu62vette

I try real hard not to sell but I have to at some point. Sometimes to raise cash for coins I need and sometimes to get rid of coins I dont need or made a bad purchase.

oildvr

Too new to this to be selling-- someday,who knows?

carl

Been collecting for well over 60 years and never sold a coin yet. Had a close call with Cancer recently so gave away lots of coins but never sold one yet. Same with lots of other things. Used to save those little bottles of Booze like the ones on the airplanes. Had about 500 of them. Gave all away. Been disposing of a large knife, sword, spear collection the same way. Soon other collections to go but never for sale.

kkce

Carl,
hope you are feeling better. I'm a cancer survivor too.