I think 100% of collectors know what they're doing and know what they like and about 50% of them know how to dicker a lesser price while 70% of them care less about the grade.
Sometimes when I am examing coins, doing numismatic research, reading this the post on this board, I wonder to myself, "What am I doing?"
I don't understand this question. What am I doing? I am learning, relaxing, and enjoying myself with this hobby as I have ever since I was a boy. Do those people who collect sets of circulated Jefferson nickels from their change "really know what they are doing?" Sure they do. They know they're having a great time. I'd imagine that 100% of them know this.
It has always been my experience that very few collectors know how to grade and even fewer can spot all the variations of cleaning.
Pardon my heterodoxy but these are not skills necessary for being a numismatist. They are central to being a dealer and in the acts of buying and selling but as far as being a collector, as being a numismatist is concerned, these are not the defining skills of the field.
Know what they are doing? A good percentage, maybe 70% or so. Most enjoy the hobby, and buy coins with hobby money, and work on various sets or just buy what they like and accumulate. Most know that this is what they are doing and enjoy the hobby for what it is--a hobby.
Know how to grade? A bit lower, maybe 50% in their specialty.
Know how to grade outside their specialities? Maybe 20%, maybe less.
Know how to authenticate and detect crude fakes? About 30%, maybe as high as 50%.
Authenticate against top quality fakes? Maybe 1%, maybe more like 0.05% depending on the quality of the fakes.
What's your definition of "know what they are doing""?
Answer that and I might have a chance of getting the answer right.
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
Good list, bear. Now let's see what he had in mind when he posed the question.
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
Ok, Bear, I'm taking the test. Started a new series completely new to me 2 years ago.
1. Not even close - I don't market grade. 2. They are rarely traded - hard to know the true value. Recently paid 2X the highest recorded price for what appears to be a great coin, finest graded for the maker and type. Recommended to me by a reputable dealer. Did I do the right thing?? 3. OK - getting better, but the doctors are good. 4. Check. 5. Yep - so far, so good. 6. No Brainer - doesn't everybody??
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
<< <i>I don't understand the point of this post. Are you just mad that some people don't like your idea for PCGS grading problem coins? You seemed to start this thread just to get people arguing. Pretty lame. >>
ironic??? >>
No, cosmic. I figure it will take me about 100-200 more body bags to get it kinda right. >>
ME TOO!!!! That was the funniest and most appropriate response I've read. I am constantly learning and trying to educate myself. Unfortunately, my Mom has always told me that I never learned anything the easy way! Count me among those who don't have a freaking clue! (See sig line for clarification)
"College men from LSU- went in dumb, come out dumb too..." -Randy Newman
<< <i>How many dealers can grade? Why do the best have to get them graded? I think the answer to your question may be much different than what you were looking for. >>
According to a conversation overhead at FUN in 2003 while submitting some coins, a well known President of the TPG opined that less than 20% could grade.
Honestly though. I try to educate myself a little more each day. I never make a large purchase without reading and checking photo descriptions first. If in doubt, I dont buy it. I'm not sure I'll really ever be an expert but I sure enjoy playing around.
I'll see your bunny with a pancake on his head and raise you a Siamese cat with a miniature pumpkin on his head.
You wouldn't believe how long it took to get him to sit still for this.
12% I fall into this catagory. I collect a lot of this golden heavy metal. I watch the price of its value go up, go down, go down, go up. This makes me know nothing.
Also why in the hell would I spend close to $3,900.00 for 2 2007 10th Anniversary sets of Platinum before years end? Because I am a freakin idiot. So that puts me into the percentage of knowing nothing about this hobby.
<< <i>How many dealers can grade? Why do the best have to get them graded? I think the answer to your question may be much different than what you were looking for. >>
According to a conversation overhead at FUN in 2003 while submitting some coins, a well known President of the TPG opined that less than 20% could grade. >>
Great way to keep bringing in the money. Frankly, I think most collectors are better graders then they think they are. (A good number will not be good graders, still, just not as bad as they think.)
I'm amazed at the number of collectors who flood the forum with "please grade this coin" posts. I have never responded to these as I fully concede that I am not good enough to grade a coin from a picture. Probably never will be. Then again in my opinion neither is anyone else. For the most part nearly all the answers declare the coin to be cleaned or AT whether it is or not. The newbs desire input from people, many of whom know less than they do, so I would have to guess that anyone putting any stock in this kind of information really doesn't know what they are doing. Neither do the "experts" providing the answers. Dave W
David J Weygant Rare Coins website: www.djwcoin.com
<< <i>I've asked several dealers this question. They peg it at around 2%. >>
Of course, you asked a dealer. Now ask a collector He knows he's collecting coins 100% of the time. He may not know the direction, he may not look at value/market/auctions/or the many nuances of the hobby..., he may never know how to grade. He might have ANACS, NGC, PCGS holdered coins that are worthless, but he knows what he's doing... as do most people who collect. We spend money on coins.
Now if the thread title asked : What is the average I.Q. of most collectors, then 2 may be an appropriate number.
The OP is long gone. The hit and run type. Most will hang in and offer clarification. You could drive a log wagon through this quack question. I am a proud member of the other 80 percent he has falsley created.
Comments
One can take a gamble and know that they are doing that full well.
Maybe, everyone knows what they are doing, it just may be they wish they could do it better!!!
I think 100% of collectors know what they're doing and know what they like and about 50% of them know how to dicker a lesser price while 70% of them care less about the grade.
<< <i>5-10% Many of those 5-10% can be found here
I don't understand this question. What am I doing? I am learning, relaxing, and enjoying myself with this hobby as I have ever since I was a boy. Do those people who collect sets of circulated Jefferson nickels from their change "really know what they are doing?" Sure they do. They know they're having a great time. I'd imagine that 100% of them know this.
Pardon my heterodoxy but these are not skills necessary for being a numismatist. They are central to being a dealer and in the acts of buying and selling but as far as being a collector, as being a numismatist is concerned, these are not the defining skills of the field.
<< <i>What percent of collectors really know what they are doing >>
I really don't know what I am doing and know it, Most really don't know what they are doing and don't know it.
.....................................................
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
answer accurately. The folks we meet on
this Forum are either very coin smart
or, are folks seeking and absorbing knowledge.
I would say of the other collectors, perhaps 50%
are casual and ignorant of grading, history or the fine
point of collecting. 30% are attempting to be serious
collectors, but in the absence of a tutor, will be making many
mistakes that may cause them to lose money and interest in
collecting. I would say, that 15% are serious and fairy well
tutored in the hobby. the remaining 5% of collectors are the smart
experienced and studious collectors in the hobby. Of course QDBs and HRH
and others of their status are farabove and beyond the masses
and most professionals.
Camelot
Know how to grade? A bit lower, maybe 50% in their specialty.
Know how to grade outside their specialities? Maybe 20%, maybe less.
Know how to authenticate and detect crude fakes? About 30%, maybe as high as 50%.
Authenticate against top quality fakes? Maybe 1%, maybe more like 0.05% depending on the quality of the fakes.
Answer that and I might have a chance of getting the answer right.
Has a knowledge of the pricing structure of the coins
that they collect.
Has the ability to spot coins that have the LOOK of original
non messed with coins.
Enjoys what they collect and makes an effort to assemble
reference books on the background and history of the coin series
Has a select group of dealers that are honest , truthful and pleasant
to deal with.
Keeps accurate records of all coin purchases and sales.
Camelot
1. Not even close - I don't market grade.
2. They are rarely traded - hard to know the true value. Recently paid 2X the highest recorded price for what appears to be a great coin, finest graded for the maker and type. Recommended to me by a reputable dealer. Did I do the right thing??
3. OK - getting better, but the doctors are good.
4. Check.
5. Yep - so far, so good.
6. No Brainer - doesn't everybody??
Wow
<< <i>
<< <i>
<< <i>I don't understand the point of this post. Are you just mad that some people don't like your idea for PCGS grading problem coins? You seemed to start this thread just to get people arguing. Pretty lame. >>
ironic??? >>
No, cosmic. I figure it will take me about 100-200 more body bags to get it kinda right. >>
ME TOO!!!!
That was the funniest and most appropriate response I've read. I am constantly learning and trying to educate myself. Unfortunately, my Mom has always told me that I never learned anything the easy way! Count me among those who don't have a freaking clue!
-Randy Newman
at least a few times a year I am reminded that I don't have clue.....
<< <i>i think the more interesting question would be- "how many of us think we know what we are doing but in reality havent a clue"...
at least a few times a year I am reminded that I don't have clue..... >>
You usually need to buy a vowel to receive a clue.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>How many dealers can grade? Why do the best have to get them graded? I think the answer to your question may be much different than what you were looking for. >>
According to a conversation overhead at FUN in 2003 while submitting some coins, a well known President of the TPG opined that less than 20% could grade.
<< <i>Look at Forrest Gump, he didn't know crap and look how far he got!
But like some registry collectors, he didn't know why he was running/collecting, it abviously wasn't for money!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
10% know, 90% think they are in that 10%
<< <i>10% know, 90% think they are in that 10%
Sort of like those surveys that show something like 85% of drivers think they are better than average drivers.
Some are better than others at it, but no one REALLY knows what they are doing.
<< <i>Is it a requirement that we know what
we are doing? Half the time I don't even
know where I am or, what day it is.
Guilty.
Honestly though. I try to educate myself a little more each day. I never make a large purchase without reading and checking photo descriptions first. If in doubt, I dont buy it. I'm not sure I'll really ever be an expert but I sure enjoy playing around.
You wouldn't believe how long it took to get him to sit still for this.
Also why in the hell would I spend close to $3,900.00 for 2 2007 10th Anniversary sets of Platinum before years end? Because I am a freakin idiot. So that puts me into the percentage of knowing nothing about this hobby.
<< <i>
<< <i>How many dealers can grade? Why do the best have to get them graded? I think the answer to your question may be much different than what you were looking for. >>
According to a conversation overhead at FUN in 2003 while submitting some coins, a well known President of the TPG opined that less than 20% could grade.
Great way to keep bringing in the money. Frankly, I think most collectors are better graders then they think they are. (A good number will not be good graders, still, just not as bad as they think.)
Ed. S.
(EJS)
I have never responded to these as I fully concede that I am not good enough to grade a coin from a picture. Probably never will be.
Then again in my opinion neither is anyone else.
For the most part nearly all the answers declare the coin to be cleaned or AT whether it is or not.
The newbs desire input from people, many of whom know less than they do, so I would have to guess that anyone putting any stock in this kind of information really doesn't know what they are doing.
Neither do the "experts" providing the answers. Dave W
David J Weygant Rare Coins website: www.djwcoin.com
I'll say 17.39%... If I'm correct, what do I win?
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>I've asked several dealers this question. They peg it at around 2%. >>
Of course, you asked a dealer. Now ask a collector
He may not know the direction, he may not look at value/market/auctions/or the many nuances of the hobby..., he may never know how to grade. He might have ANACS, NGC, PCGS holdered coins that are worthless, but he knows what he's doing... as do most people who collect. We spend money on coins.
Now if the thread title asked : What is the average I.Q. of most collectors, then 2 may be an appropriate number.
I am proud to say that I am really smart for
a bear, with an IQ of 22.6753.
Camelot
<< <i>Define "know what they are doing"? >>
The OP is long gone. The hit and run type. Most will
hang in and offer clarification. You could drive a log
wagon through this quack question. I am a proud
member of the other 80 percent he has falsley created.
I know a lot about a few things,
I know everything about nothing, but I like to learn!!!