Spend more money on fewer pieces over a longer period to get better quality

MidLifeCrisis

Agee? Disagree? Thoughts?

JCMhouston

You could wind up just buying more expensive junk that way. You have to develop an eye, or know someone who does. Patience and more money can lead to higher quality, but the two are not intertwined.

LindeDad

Wish I would of started out that way. But most of us get what we can when we can.

RedTiger

As always, collect what you like and enjoy the hobby. Some like quality, some like quantity, some like rarity. Most can not afford all three. Most pick some combo that works for them. There is no right or wrong with any landing place on the matrix. Folks on this forum tend towards high quality, high price, almost certainly certified, but out in the rest of the world, those kind of collectors are few.

As for starting out with a few high quality coins, that sounds like wishful thinking. Most know-nothing novices that buy one or two pieces for a lot of money early end up with being buried with expensive coins that many other collectors may actually cringe at when they see them. Think of that. Obviously if a person knew a lot, they would not be a novice, so how can someone starting out know a lot? See the illusion? It's not possible, unless someone else is basically picking out the coins, and then what is the person received the pickings actually learning? A new collector might win the lottery and luck into the right dealer(s), but the odds of that for average collectors tends to be low.

ricko

RedTiger hit it squarely..... Learn the hobby... and that will always include making mistakes and buying coins you like rather than good investments. Numismatics is a hobby, no doubt. For many though, it is a business - some win, many lose. Cheers, RickO

RYK

Some times I have felt this way, other times I have not.

Currently, I enjoy more coins with the right look. Next month, next year, I might feel differently.

Baley

I think it's collector evolution; Once a collector has one (or multiples) of "the easy coins" for their sets, then the tougher coins come fewer and farther between

When I started collecting, I "needed" everything so small purchases were easy to make fast and furious, and upgrades were pretty easy to do too.

I'm down to a new coin for my collection once a year or so, everything I "need" is hard to find in a look i like and costs four figures when it does show up

comma

I definitely agree with less, better coins. And in my case, less, better, different coins
But when I was younger I was the opposite.

MrEureka

Over the past 5+ years, the best financial strategy would have been to buy pure junk in large quantities. More specifically, gold and silver bullion-related junk.

Advice to collectors is more complicated. But in general, the pursuit of quality is a good idea.

scottgardener

My collection builds slowly for that reason, and would likely continue to do so even if my budget were multiplied considerably. At most coin shows, I end up getting two coins--one that takes up most of my budget that day, and a second one for enjoyment sakes and side projects, if I have anything left over after the first purchase. As of late, I have been really stretching myself at shows, getting coins I could just barely afford, shooting for the very best attainable that day.

coinbuf

I very much disagree, imho this theory or box of twenty as it is also sometimes refered to does'nt work for everyone. It may work well for very advanced, connected, well heeled collectors but the average Joe will lose most of the time. Something thats lost in the hype to collect this way is that as you buy more expensive coins thay can be harder to liquidate when the time comes as the buying pool is smaller as the price goes up. Said another way I can sell a $50 coin to tons of folks, but a $5,000 coin has a smaller, more picky market so mistakes here can be very costly.

g048406

<< <i>I very much disagree, imho this theory or box of twenty as it is also sometimes refered to does'nt work for everyone. It may work well for very advanced, connected, well heeled collectors but the average Joe will lose most of the time. Something thats lost in the hype to collect this way is that as you buy more expensive coins thay can be harder to liquidate when the time comes as the buying pool is smaller as the price goes up. Said another way I can sell a $50 coin to tons of folks, but a $5,000 coin has a smaller, more picky market so mistakes here can be very costly. >>



Excellent Point

TexasNationals

Oh, I agree, unless I can take a second mortgage on my house to buy some MS-67 or MS-68 High Leaves or Low Leaves Wisconsin quarters my collection remains on hold and is "dreck"!

earlyAurum

I think that you just have to be realistic about the economics of coin collecting. That is that you can make or lose money whether buying expensive or inexpensive coins for various holding periods. I am trying to go with the strategy of fewer, expensive pieces over a longer period of time but find it boring. So I have a backup collection of less expensive coins to keep me in the hunt.

So, I guess I have a dual strategy.

anablep

I'm with Baley on this one.

I'm at the point where finding what I need with the right look occurs less often.

Early on, I was buying 10-15 Morgans per year.

Now, I may buy 2-3 and usually its an upgrade.

The final 7 I need will be expensive and may take 10 years to acquire.

bidask

I have no plan.

I buy what Iike.

I enjoy all my coins regardless of the price I paid.

53BKid

I couldn't agree more.

Less is more!