Do most "whales" end up collecting gold?
Billet7
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It seems like gold is the top of the pyramid...and while not all "whales" collect gold exclusively, most of them seem to have a gold collection. Am I off the mark? I would collect early gold if I had the resources, what say you?
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That said, I don't think of gold as "the top of the pyramid" and there are many wealthy collectors who have formed outstanding collections other than gold - Barber coinage, Morgan Dollars, Trade Dollars, Seated Dollars, even Lincoln Cents.
I think whales are like most other collectors...they become attracted to a series because of beauty, history, or personal significance. Then they go after the best they can afford, especially the keys.
I also think whales focus on rarity - either absolute rarity or condition rarity - and eye appeal.
<< <i>I really think this newer classification of an astute collector being considered a Whale is pretty stupid. >>
More than a few "whales" are not astute, except perhaps in the field where they made their fortunes.
<< <i>I really think this newer classification of an astute collector being considered a Whale is pretty stupid. >>
Don't sugar coat it...tell us how you really feel.
Does that count?
To answer your question, I don't think whales are limited to gold. A few dumb whales might be, but there are some very large collectors who concentrate on early copper, which is the opposite of gold in a sense.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>More than a few "whales" are not astute, except perhaps in the field where they made their fortunes. >>
Those would most likely be best classified as Sperm Whales... which are the largest toothed carnivores on earth, as they eat other animals, but they do so by capturing hundreds or thousands at a time by filter feeding and so are not usually classed with whales that have have teeth and hunt individual prey.
I knew of one whale that spent 100k per day, for days/weeks, and yes, he was into classic gold.
Every bet he made was 3k, and only played craps.
<< <i>Somehow I dont think TDN's collection has much gold if any. I would consider hime pretty close to a whale. >>
HAHA some of the old TDN/Saintguru debates over gold verse silver were the best! Bruce is slowly getting lured by copper from what I can tell, but i can't really see him going gold either.
Even as a Phytoplankton, I do have 8 slabbed Classic Gold Coins. There is just something about Gold that is at the very core of Collecting.
Having started as a pocket change collector, gold is the one thing you would never find. I remember seeing my first Gold Coin - it was a 1929 $2.50 Indian that a neighbor lady found wedged in the side crevice of an old dresser drawer. To me, as an 8 yr-old, that little $2.50 Gold piece represented the pinnacle in collectibility.
Whales swim in whatever waters suit their fancy. Your higher gross of whale isn't the least bit impressed by gold. A true whale can easily have solid gold almost anything they want. My money is on the whale, the more intelligent variety of whale, going for absolute rarity and exclusivity over mere metal content. Gem proof gold often shines with these characteristics. When whales collect proof gold it is the equivalent of you and I having saltine crackers with our soup.
<< <i>"Whales" collect what they love. They just buy the best ones. I know more big collectors that collect silver and copper than gold. >>
"...as said by a gold collecting "whale"
I would love to have collected early Bust halves and dollars in MS grades. I just liked saints!
About 5 minutes later the waiter came back to me and handed me a crisp $5 bill. I said "AHA! You didn't have a whale sandwich, I knew it!"
The waiter grinned back at me and said "No we have it. But we don't want to cut up a whole whale for just one sandwich!"
$20 Saint Gaudens Registry Set
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
Hum... sounds like most whales I've heard about.
Steve
In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.
<< <i>Having worked in the casino industry for several years, a "Whale" is one with deep pockets. I knew of one whale that spent 100k per day, for days/weeks, and yes, he was into classic gold. Every bet he made was 3k, and only played craps. >>
Craps is my game, and if you manage it well, you can break even over a long period of time.......well almost. Meaning if he 'spent' $100K a day was he losing that much or risking that much as part
of his money management plan?
I'd think a whale as someone who can spend what they want on what they enjoy. If it's coins, sure, 5-10-20 million a year. But soon you run out of stuff that's interesting and turn to.......paintings at $30-$50 Million each and up.
Gold makes sense for a whale more so than very rare silver or copper just because it does....plus it can be sold easier also if whale man wants to change hobbies.
JMT
<< <i>
<< <i>
Gold makes sense for a whale more so than very rare silver or copper just because it does....plus it can be sold easier also if whale man wants to change hobbies.
JMT >>
Another reason gold makes sense is there is less risk of environmental damage for improper storage. I could see someone spending 100K on a nice early red copper piece just to have the environmental controls of the bank go out of wack causing high humidity and turning that red coin brown reducing it's value.
"Live long and prosper"
My "How I Started" columns
> What is a "whale"?
the Ultimate Whale