Collecting strategies (finding a focus for your collecting)

sturmgrenadier

In my short time collecting, I have struggled to find a lasting focus to my collecting. After initially collecting Morgans and Walkers, I got the idea of putting together type sets of half dollars and nickels. I have succeeded in assembling both sans the flowing hair half dollar. At the same time, I became a big fan of collecting world, silver, proof commemorative coins. I know that they are almost universally maligned because of their lack of capital appreciation (or rather, their tendency to depreciate), but I just find a lot of them very appealing. I love putting each in the compartment of a blue, felt-like tray/case that I have. Then came another zing....I recently got the bug for collecting early commemoratives, being attracted to their artistry and attendant history. I've acquired a couple of really gem examples: a Texas and Columbian (found by my dealer, naturally Then, I saw these 'Whitman Tribute Coin Boards' for wheat cents and indian head nickels for sale, and I was inspired to read the Q. David Bowers volumes on both series and to start collecting circulated sets of both. But wait, I'm zagging again: literally only in the last week, I've started to read about world coins, specifically German states and early 20th century, at the book store and on the PCGS forum Upon reflection, it surprises me that I was not drawn sooner to German coins, as I am fluent in the language and have always been interested in its history and culture. Please keep in mind that I have only collected coins for two years!

Has anyone else encountered this problem of constantly finding new types of coins to collect? What were the consequences? Did the overtaxing of your discretionary funds lead to your only being able to afford a few coins for each series/type (and no real depth in any single series)? Since you can only read so many books in a given time and there are only a fixed number of hours for viewing/studying coins at shows, did you find that collecting too widely was also an impediment to your gaining specialized knowledge/ becoming a 'well-versed authority on a series (if not an expert)? If you have to pick one, is it perhaps more advantageous to to become a depth collector, rather than a breadth collector, because you will be less likely to get cheated and you can learn the intricacies (varieties, desirable characteristics to look for, etc.) of a single series? I don't know whether I should be so concerned about being a breadth collector. Maybe I would be better off, though, by concentrating on a particular series for a year or two at a time?

Julio

Yep, welcome to the wonderful world of coin collecting. Enjoy. Take Care, jws

Russ

<< <i>In my short time collecting, I have struggled to find a lasting focus to my collecting. >>



Many of us have gone through the same thing. I was running off in multiple directions. A few years ago I sold off most everything, and began to very narrowly focus on a specific subset of a series.

Russ, NCNE

bidask

<< <i>In my short time collecting, I have struggled to find a lasting focus to my collecting. After initially collecting Morgans and Walkers, I got the idea of putting together type sets of half dollars and nickels. I have succeeded in assembling both sans the flowing hair half dollar. At the same time, I became a big fan of collecting world, silver, proof commemorative coins. I know that they are almost universally maligned because of their lack of capital appreciation (or rather, their tendency to depreciate), but I just find a lot of them very appealing. I love putting each in the compartment of a blue, felt-like tray/case that I have. Then came another zing....I recently got the bug for collecting early commemoratives, being attracted to their artistry and attendant history. I've acquired a couple of really gem examples: a Texas and Columbian (found by my dealer, naturally Then, I saw these 'Whitman Tribute Coin Boards' for wheat cents and indian head nickels for sale, and I was inspired to read the Q. David Bowers volumes on both series and to start collecting circulated sets of both. But wait, I'm zagging again: literally only in the last week, I've started to read about world coins, specifically German states and early 20th century, at the book store and on the PCGS forum Upon reflection, it surprises me that I was not drawn sooner to German coins, as I am fluent in the language and have always been interested in its history and culture. Please keep in mind that I have only collected coins for two years!

Has anyone else encountered this problem of constantly finding new types of coins to collect? What were the consequences? Did the overtaxing of your discretionary funds lead to your only being able to afford a few coins for each series/type (and no real depth in any single series)? Since you can only read so many books in a given time and there are only a fixed number of hours for viewing/studying coins at shows, did you find that collecting too widely was also an impediment to your gaining specialized knowledge/ becoming a 'well-versed authority on a series (if not an expert)? If you have to pick one, is it perhaps more advantageous to to become a depth collector, rather than a breadth collector, because you will be less likely to get cheated and you can learn the intricacies (varieties, desirable characteristics to look for, etc.) of a single series? I don't know whether I should be so concerned about being a breadth collector. Maybe I would be better off, though, by concentrating on a particular series for a year or two at a time? >>

At least you have only been ollecting a short time w/o a focus....magine a very long time....

WinPitcher

Focus? what is that?


Steve

DieClash

sturmgrenadier

I've been collecting for almost 40 years. I started as a pre-teen and in the late 60's early 70's the way to collect was by date and mint mark. As a novice collector all I could afford were modern circulated specimens to fill the slots in my album. As a result I focused on "breadth" as you put it, in an attempt to fill every slot in all the then cuirulating albums.

For example, my first coin collected was a 1938 Jefferson when I was 7 back in 1970. Back then the series was on 32 years old. 38 years later the series is still ongoing and I must purchase newly Unc. versions from the mint to keep it current, both satin finish and uncirculated and proof strikes too. Now consider the 100-yr. long cent. the 76-yr long Washington Quarter, the 62 yr. long Roosevelt dime and the 46 yr. long Kennedy half, not to mention the quarter-sized dollar series and the different surfaces and soon one realizes how expensive it becomes to maintain an in-breadth collection with just the currently circulating stuff let alone all the modern commems. and earlier 20th & 19th century stuff!

My most recent and first "focus" was to complete my modern Silver and clad commemorative collection. I've done that so now it's time for another focus.

But I can tell you the urge to fill every slot of every series still runs strong and with all the mint releases that approach is becomeing more and more difficult as the budget requried to keep up tends to eat into any residual funds for persuing other focuses!

I'm just a sucker for bloated Mint products, I guess.

sparky64

Quite a bit to digest there sturmgrenadier. Don't be to hard on yourself or overanalyze.
Most, not all, bounce around then settle down and gravitate to whatever makes them happy.
Enjoy.

Musky1011

Buy yourself a Dansco 7070 type set album

Then you can focus on everything


Jim

tombr

I've been down that road and still take the occasional trip on it. I try to focus on one series but still go off on tangents. Just try to remember to have fun.

FilthyBroke

<< <i>Quite a bit to digest there sturmgrenadier. Don't be to hard on yourself or overanalyze.
Most, not all, bounce around then settle down and gravitate to whatever makes them happy.
Enjoy. >>




I agree, for now, just collect what you enjoy. Focus will come one day. Test the waters and try different things. You'll find yourself settling in somewhere.

BTW, my focus is IHCs, Gold, Ancients, and neat stuff that I see and "just have to have".

tmcsr69

<< <i>Buy yourself a Dansco 7070 type set album

Then you can focus on everything


Jim >>



Good Advice. I think every collector should have some version of this type collection.

sturmgrenadier

Thanks to all who shared their experiences, ideas and perspectives. I particularly appreciated learning that I'm not the only 'meandering' collector out there! I suppose the main point I took away from the posts is that there is no 'right way' to collect. And regardless of how I collect (focused or unfocused, I should remember that the reason for collecting, as is the case with any hobby, is to enjoy it. So don't think too much about collecting strategy and such Thanks all!

cladking

<< <i>Thanks to all who shared their experiences, ideas and perspectives. I particularly appreciated learning that I'm not the only 'meandering' collector out there! I suppose the main point I took away from the posts is that there is no 'right way' to collect. And regardless of how I collect (focused or unfocused, I should remember that the reason for collecting, as is the case with any hobby, is to enjoy it. So don't think too much about collecting strategy and such Thanks all! >>



That sounds about right.

I started out pretty focused (buffalo nickels) but have since broadened my collecting
to include just about everything. In very recent years I find myself specialing in several
key series or areas.

I don't so much decide these things as merely experience them. There is a lot of decis-
ion at play as well. Some things I'll still jump in because they are undervalued, underap-
preciated, and available with a little effort. I still try to get rid of stuff that is overvalued
but this is much more difficult sometimes. These collections just get shoved to the back
burner until prices come down usually.

coinsarefun

Yes, I have managed to focus.........



American silver and gold, circulated, ms and proof.
Type sets.
Proof sets.
So called dollars.
Russian silver and gold.
Hungarian silver and gold.
Mexican and Peru...lately
and......
Civil war and hard times tokens.
Oh....yes and some medals..

It took some time but I think I have finally nailed it down to only a few hundred designs
that I want to focus on.

I think that I am very focused


Stefanie