Question on Box of 20?
melvin289
Posts: 3,019 ✭
Will someone please explain the idea behind or the concept of the "Box of 20" again for me. I have seen it on here before but it did not sink in. I have a few extra Blue Boxes at home.
Ron
Ron
Collect for the love of the hobby, the beauty of the coins, and enjoy the ride.
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I think that's about it. It's a way to focus. It works for some and not for others.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Thanks,
Ron
The box of 20 concept is similar to old school Bauhaus theory of architecture = less is more. It's an advanced discipline where your focus is on quality, instead of quantity. A box of 20 is not for everyone. It's definitely not for those who believe you need one of everything to complete a set.
It works well if you collect 1793 Cents by die variety.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Focus instead on the idea of making sure every coin in your collection is the best you can obtain and afford.
The Box of 20 concept enables you to ensure that each coin in your collection is at least equal to the others...it is a "less is more" concept for collectors who believe that having fewer, higher quality coins is better than having many lower quality coins.
But again, do NOT focus on the number. For example, if you collect classic commemoratives and it takes 50 coins for a basic silver type set, then your box of 20 becomes a box of 50.
But, by limiting your collection to the lowest number of coins necessary, you focus your buying on coins that improve your set. If your set of 50 silver classic commemmoratives is complete, then you must sell a coin to add a coin. Therefore, you force yourself to make sure that any coin you are considering will actually be an improvement over what you already have.
Do NOT focus on the number.
- 20 coins from the Civil War, Great Depression, or other specific time period
- 20 coins that would impress non-collectors at < $100 each
- 20 coins from New Orleans
- 20 coins where the dates are prime numbers (26 to choose from: 1801, 1811, 1823, 1831, 1847, 1861, 1867, 1871, 1873, 1877, 1879, 1889, 1901, 1907, 1913, 1931, 1933, 1949, 1951, 1973, 1979, 1987, 1993, 1997, 1999, 2003)
- 20 different rare 1878 8TF varieties
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Personally I am a fan of the idea (noting, as MidLifeCrisis did, that there is nothing magic about that specific number, and anyone could substitute any number they like better) because I think a focused assortment of choice and interesting coins is preferable to amassing a complete set of anything (since, by definition, most complete sets also include a bunch of common coins and/or a whole group of things that don't look very different from one another).
Also, I see no logical reason why collecting in this way would only be "for investors".
<< <i>
- 20 coins where the dates are prime numbers (26 to choose from: 1801, 1811, 1823, 1831, 1847, 1861, 1867, 1871, 1873, 1877, 1879, 1889, 1901, 1907, 1913, 1931, 1933, 1949, 1951, 1973, 1979, 1987, 1993, 1997, 1999, 2003)
>>
This is truly scary.
How about collecting Sheldons by prime numbers? The problem is that darn S-79. At least you won't need the S-48, or the S-15.
Quality is not always measured by what number appears on the plastic, it has to do with the appearance of the coin. I have a completely different view of quality and the self imposed limitation of 20 coins.
Unfortunately, some coins are just not available in a grade that some might find acceptable, but that coin really may be about as good as it is going to get- especially for those of us who really have limitations. Years ago, I managed to buy a fairly attractive 1850-O 10 Lib- it was a nice AU coin. There are 1or2 known Uncs. A coin like that, nice and original, is as good as it is going to get for me. Discipline, knowledge and perhaps a little luck in terms of being in the right place at the right time is how I was able to buy the coin. The box of 20, which is alledgedly about discipline, would dictate that the coin could potentially be sold based on mere numbers in a box- sorry, I am not playing that game because the numbers just do not add up-
How many rarities come along with the right original look and at the right price and it just makes perfect sense to buy them based not just on rarity, not just on price, but one just may never see one quite like it again for years? And it can be many years before such a coin appears. Discipline is about recognizing quality in coins and how often such coins appear on the marker. Discipline is not about maintaining a self imposed limit on the number of coins one can own.
Experience the World through Numismatics...it's more than you can imagine.
<< <i>Quality is not always measured by what number appears on the plastic >>
Did someone in this thread say that it was?
Did someone in this thread say that it was?
No- but I think it may have been implied which is why it was written
Experience the World through Numismatics...it's more than you can imagine.
I haven't posted much of late but I used to be on as rmoss. A computer change at work knocked out that identity along with about 1800 posts so I am here now as melvin289. If I log in at home I am still rmoss.
Again Thanks,
Ron
<< <i>Years ago, I managed to buy a fairly attractive 1850-O 10 Lib- it was a nice AU coin. There are 1or2 known Uncs. A coin like that, nice and original, is as good as it is going to get for me. >>
Sounds like a great coin and one of the highlight pieces of your collection.
Now, let's say you have 20 coins (or 50 or whatever) and that 1850-O is one of them. If you follow the "box of 20 concept", then you would only buy a coin for your collection when it would upgrade your set. If you bought a new coin, it would replace the coin you like the least or be an upgrade to an existing coin in your collection.
In either case, I suspect you would not choose to get rid of that 1850-O. It would be a keeper.
And if you formed a collection in which all the coins were top notch rarities and you liked them all equally well, then you might choose to have a "box of 21" if the right addition for your collection comes along.
This is not about rigidly sticking to a specific number of coins...it's about making sure each coin is special; that your focus is on quality rather than quantity; and that you decide to buy a coin only when it really adds to your overall collection.
I follow these guidelines...but a complete collection for me would include anywhere from 43 coins up to 368 coins (Early American Coins and Tokens Basic Design Set or with Major Varieties 1616-1820). These PCGS registry sets are how I choose to define my collection.
However, I just bought a 1955 DDO Lincoln Cent that doesn't fit either of these sets...and I have a Pillar Dollar that doesn't fit in either set. Both coins are still keepers for me. But I would only buy another 55 DDO or Pillar Dollar if it was an upgrade to what I already have...and in that case, I would sell or trade my old one.
It's the follow-through that's difficult for collectors.
The term "20" shouldn't be taken so literally as a number, but rather an idea to upgrade to high quality coins that you can be proud to own.
Periodic paring of the collection is healthy anyway.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
As for world coins, it would be OT here so I will not go there.
Discipline is about buying the right coin... not making decisions as to what gets kicked out of a box of 20 to make a slot for a new purchase.
Experience the World through Numismatics...it's more than you can imagine.
<< <i>The idea is to focus on fewer higher end coins. If you keep it to 20 you are most likely able to afford better coins than if you splurge on hundreds of coins. If you go over 20 then something from the box has to go.
I think that's about it. It's a way to focus. It works for some and not for others. >>
It actually worked great for me until that 21st, 22nd, 23rd, etc. coin came along that I had to have.
1. It prevents you from collecting all sorts of flotsam and jetsam
of totally unrelated coins, purchased on a whim of the moment.
2. It forces you to become extremely picky as to the quality and beauty
of the coins you collect.
3. It forces dicipline and careful thought before any purchase is made.
4.By purchasing a relatively small number of extraordinary coins of value
they are easier to store and easier to sell when the time comes. You thus
have the pride of collecting quality over quantity.
5. It allows you to organize your collection in the way you wish ,without the
need to complete a series of coins with keys and semi keys.
Camelot
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I am now the proud grandfather of three young'uns. My wife and I decided that instead of giving them clothes or toys for special day gifts, we would add a coin to their own box of twenty. Now Jan pointed out that if there are minimum two gifts per year per child (birthday and Christmas), each would have their boxes filled by their ninth/tenth year. That's when the second box appears.
Parents are given no guilt-trip strings attached to these coins. If/When they decide to sell, I'll help them with the process if they wish. As the children grow older, they will be exposed to a variety of coins to collect, if it strikes their fancy.
Their "collections" are pretty nice I must say. Jan and I are always looking for coins that would fit one of their boxes. The parents like the idea, too.
Garrow
<< <i>To all,
I am now the proud grandfather of three young'uns. My wife and I decided that instead of giving them clothes or toys for special day gifts, we would add a coin to their own box of twenty. Now Jan pointed out that if there are minimum two gifts per year per child (birthday and Christmas), each would have their boxes filled by their ninth/tenth year. That's when the second box appears.
Parents are given no guilt-trip strings attached to these coins. If/When they decide to sell, I'll help them with the process if they wish. As the children grow older, they will be exposed to a variety of coins to collect, if it strikes their fancy.
Their "collections" are pretty nice I must say. Jan and I are always looking for coins that would fit one of their boxes. The parents like the idea, too.
Garrow >>
Why limit it to 20? Just the birth year stuff from the Mint would easily surpass 20 coins these days.
Beyond that I try to stay away from random purchases and nick-nacks. What few nick-nacks I have left are on my "move" (sell 'em) list.
A box of 20 is a decent idea, but I don't agree with those that say that all common coins and tokens are "junk." Some of them have wonderful stories surrounding them, and the best part when there is a good story, the item is NOT expensive. A couple of examples that would be left out of most "box of 20" old commemoratives are the Stone Mountain half dollar, the Columbian Expo half dollar and examples of the Booker T. Washingthon and Washington-Carver half dollars.
Jan, my wife, indicated that they will easily surpass twenty coins. The second box will then arrive.
They haven't received any recent mint products such as birth year coins. These would take up too many slots. They are all PCGS certified coins, each of a different denomination/design...their own type collection, if you will.
Garrow
<< <i>I can understand a coin dealer pushing this idea. Once you reach 20, if you buy another coin, you have to sell a coin. More opportunity for a dealer to make money off a collector. Reminds me of a stock broker constantly buying and selling stocks from your portfolio---also known as "churn and burn". >>
That's utterly ridiculous. If the motivation for a coin dealer was to maximize business, they would be advocating that collectors tackle large complete sets which require purchasing several hundred coins to fill every "slot".