(: For the Box of 20'ers... Hypothetical Collecting Strategy... :)

SpaceMonkey

Let's say you wanted to build a box of 20.

You have the patience to build it over 10 years.

You commit to ONLY buy 2 Coins per year.... period.

Your budget is $20,000 per year.



What would you do? How / What would you build?

-sm

BAJJERFAN

I still don't understand that mentality unless one is extremely limited by $$$ or coin availability. Whats the point of 20 different coins with no unifying theme? If you find one you like enough to include it how could you bump it out later? If twas me I'd probly hoard a single date like 1877 IHCs in ms64 or higher red or red-brown.

RYK

Over the period of ten years, advances (or declines) in price would mean that in some years, you get more for your money than others. I would try to find a unifying theme, even if it were broad, like "19th century gold", "seated silver" , "colonial", "toned classic silver", "coins of 1876", "coins of the Civil War era", etc. There is no limit or restriction on how you could structure your box, and the two coin per annum ($10k/coin) will make one very disciplined. If it were me, and I had to abide by the rules in the OP, I would shoot to buy one coin at or around the FUN show and another at or around the ANA.

BAJJERFAN

I thought the hobby was supposed to be fun, not an endurance test or something similar. If you have decided what the plan is to be, then be prepared to carry it out at every opportunity. You see two coins for your box at FUN, you buy two coins for your box at FUN.

RYK

<< <i>I thought the hobby was supposed to be fun, not an endurance test or something similar. If you have decided what the plan is to be, then be prepared to carry it out at every opportunity. You see two coins for your box at FUN, you buy two coins for your box at FUN. >>



The hobby is whatever one wants it to be. I was simply responding to the hypothetical in the OP.

BigMoose

It is very difficult for me to be that disciplined. Some of my favorite coins are those that I just happened to spot when wandering the bourse floor or looking at auction lots. Frequently these coins were outside my area of specialty, but I just had to have them. So, I start a "box of twenty" Early Date Large Cents or Middle Date Large Cents or Proof Indian Cents, and when I have put together 20, I just start another "box of tweny", finances permitting.

MidLifeCrisis

I like the box of 20 concept (less is more; focus on a small collection in which each coin is special, etc)...but I don't want to be tied to a specific number of coins. Right now, in fact, I have a total of 20 coins in my collection. I love them all...but, I'm about to trade three coins for one very special coin because I want to take advantage of the opportunity to buy it since I probably wouldn't get another chance for a very long time. I'm trading because I don't have enough cash to purchase it comfortably right now with the holidays, etc. So in this case I have to decide is it worth the trade. I have to look at my trade coins and decide how hard they would be to replace, or how well do they represent the overall theme of my collection, how do they compare with my other coins...

So, in theory, your scenario would result in a person having a great collection of 20 coins worth approximately $10K each. However, if I commit to only buy 2 coins per year, what if I've purchased both my coins by November and then in December an opportunity comes along to buy a spectacular rarity? How can you plan for that? Or what if you see a coin in July but you're not sure if it's the right coin for your collection? You'd have to convince the dealer to hold it for you until the end of the year so that you know it's the one you want!

Anyway, the point is that the box of 20 concept is a good collecting strategy as long as you remain flexible.

BAJJERFAN

<< <i>

<< <i>I thought the hobby was supposed to be fun, not an endurance test or something similar. If you have decided what the plan is to be, then be prepared to carry it out at every opportunity. You see two coins for your box at FUN, you buy two coins for your box at FUN. >>



The hobby is whatever one wants it to be. I was simply responding to the hypothetical in the OP. >>



I know but I see no point in restricting one's purchase/s in any way.

I guess I could sell my entire collection and buy a 92-s Morgan in 63 or an 84-s 64, but I'd be hard pressed to fill the other 19 slots. It wouldn't be much fun lookin at one coin all the time except for that extra measure of smugness that comes from ownin something that you know many others would like to have. One could always collect one nice high grade example of the tougher Morgans or the key date of each of the most common series.

BAJJERFAN

A person's choice is not as important as his reasons for making that choice.

curly

Brothers, I've developed a philosophy that is similiar to the "box of 20". Instead of 20 coins, I'm working on "short sets". Examples would be sets of MPLs, Flying Eagles, and matte Buffalos. If you are a collector ( not an investor ), these sets are doable for a workin' man if you take your time at it.

Just like an ant eatin' an elephant.... take your time and stay with it and you'll get the job done.

Longacre

I like the box of 20 concept, and the idea in the OP. Of course, you can also have a "fun" collection that is much less expensive, in case just buying 2 coins per year gets boring.

MrEureka

If I were going to limit myself to two coins a year, I'd need to be extremely selective. And being that selective, I'd have trouble finding two coins every year.

CoinRaritiesOnline

Having served collectors who are building their collections for over 25 years, I can tell you from experience that a person who plans to buy just 2 coins per year is a person who will soon lose interest and leave the hobby.

Why this is, I cannot say. I think it is because it is simply fun to hunt for (and capture) coins. Deprived of this aspect of the hobby, a collector's interest will soon wither away.

As collectors come close to filling those last few holes in their collection, we often recommend they start a second one. It doesn't have to be a collection of "expensive" coins (whatever "expensive" might mean to that person). It could be a collection of raw Ike dollars in high grade, or a date set of bust dimes in XF, or a start at collecting old numismatic books, etc. Just something to hunt for at shows, in auctions, or on eBay until another targeted coin becomes available.

Collectors as a "species" (and I am one) need that intermittent "high" of finding something every once in a while. Doing so every six months is not frequent enough.

Just my observation.

SpaceMonkey

<< <i>Brothers, I've developed a philosophy that is similiar to the "box of 20". Instead of 20 coins, I'm working on "short sets". Examples would be sets of MPLs, Flying Eagles, and matte Buffalos. If you are a collector ( not an investor ), these sets are doable for a workin' man if you take your time at it.

Just like an ant eatin' an elephant.... take your time and stay with it and you'll get the job done. >>





I could never actually do 2 coins a year... would get too boring.
I am not an overly patient person, but I have enough discipline for a short run... so I like this idea... and have been practicing something like it...


right now my runs are:
Century Proof Type Set for 1900 & 2000 (IN PROGRESS-2 Coins Complete)
Buffalo Nickel Proof/MS Type Set (ALMOST DONE-@ NGC being graded into Multiholders right now!)



-sm

mgoodm3

For my box I have been pondering how to fill it, but I would like a sort-of type set. A couple colonials, a couple early coppers, a little early silver. maybe a gold piece or two. A pattern. And No, I don't give a rip if it has a theme or not.

I will still collect cheap things like errors, CWT's.

Tonedbuff

I've been fascinated by the box of 20 concept... and I am thinking about starting one. Mind you, my other few hundred slabs aren't going anywhere, or the other few thousand loose coins... but I think I'll do a box of 20 for my 'best coins'

So, for this box, my approach will be ecclectic, collecting a mini type set of the best I can afford.
Looking for keys or semi keys, in the best grade I can afford - and I'll not be spending 20k per year, I don't spend that on coins anymore...
Of the 'types' of coins I want to add to this collection (by the above criteria) are:
Half Cent
Draped Bust Large Cent
Two Cent
Three Cent Silver
Three Cent Nickel
Shield Nickel
Liberty Nickel
Buff
Half Dime
Seated Dime
Barber Dime
Twenty Cent piece
Seated Quarter
Barber Quarter
SLQ
Seated Half
Barber Half
Walking Liberty Half
Seated Dollar
Trade Dollar

Gives me a wide lattitude of coins to pick from, easily accomodating my budget.

IGWT

I thought one of the purposes of collecting with the "box-o-twenty" mentality is the freedom that it gives the collector in choosing coins. A "box-o-twenty" collector who won't buy the right coins when they fortuitously cross his path has defeated the purpose of the concept.

SeattleSlammer

Right now, in fact, I have a total of 20 coins in my collection. I love them all...but, I'm about to trade three coins for one very special coin because I want to take advantage of the opportunity to buy it since I probably wouldn't get another chance for a very long time. I'm trading because I don't have enough cash to purchase it comfortably right now with the holidays, etc. So in this case I have to decide is it worth the trade. I have to look at my trade coins and decide how hard they would be to replace, or how well do they represent the overall theme of my collection, how do they compare with my other coins...


MidLifeCrisis, that is EXACTLY how I approach my Box.

SpaceMonkey, I sure wish I could budget 10k per coin. But I agree with Dave/coinraritiesonline that at just 2 coins per year, it would be difficult to keep interest....even though those 2 coins would be very special. Your concept has a ton of upside though, because after you get a Box of 20 coins worth 10k/each, you could start trading multiples for even better coins....so you could see coins worth 20, 30, 40K apiece.....and more!

Zoins

<< <i>Having served collectors who are building their collections for over 25 years, I can tell you from experience that a person who plans to buy just 2 coins per year is a person who will soon lose interest and leave the hobby.

Why this is, I cannot say. I think it is because it is simply fun to hunt for (and capture) coins. Deprived of this aspect of the hobby, a collector's interest will soon wither away.

As collectors come close to filling those last few holes in their collection, we often recommend they start a second one. It doesn't have to be a collection of "expensive" coins (whatever "expensive" might mean to that person). It could be a collection of raw Ike dollars in high grade, or a date set of bust dimes in XF, or a start at collecting old numismatic books, etc. Just something to hunt for at shows, in auctions, or on eBay until another targeted coin becomes available.

Collectors as a "species" (and I am one) need that intermittent "high" of finding something every once in a while. Doing so every six months is not frequent enough.

Just my observation. >>

I also think 2 a year is not enough if you want to increase collection size. If you only plan on getting 2 a year, it's very easy to get 0 a year.

BAJJERFAN

Every time this comes up there is always a slew of new comments on why this is or is not a good thing.