Psychology of Coin Collecting

WingedLiberty1957

Post what you love to collect and why? (If you know why)

I have become curious if most people know why they like to collect what they do.

I wonder if our collecting habits might shed light on our psychological make-up.

Might complete set (date and mintmark) collectors border on obsessive/compulsive?

Are bullion collectors more fearful and distrustful than average?

Are cherrypickers narsissistic?

I remember reading many years ago that coin collecting was a blend of acquisitiveness, intellectual curiosity, a desire to possess and organize tangible objects, a perhaps an attempt at immortality, and a certain amount of showing off.

Let's hear your thoughts

Coinsponge

To me I think it is a blend of artistic appreciation, historical appreciation, and (hopefully) even some capital appreciation.

silverpop

whatever catches my notice gets collected

crypto79

The tangible connection to history's application/international commerce and the fascination with the mechanical craftsmanship of the industrial revolution. I could care less about the capital appreciation but I must admit that the past performance empowers me to go more "all in" resource wise.

coinsarefun

<< <i>To me I think it is a blend of artistic appreciation, historical appreciation, and (hopefully) even some capital appreciation. >>







Exactly!! well said

SmEagle1795

<< <i>
Are cherrypickers narsissistic?
>>



I don't know, the varieties in some series make me think they're more masochistic than narcissistic

RYK

Lately it is a competition with my nemesis, XF45.

WingedLiberty1957

Lol at the response of sm eagle 1795. Now that's funny!

TWQG

Although I specialized in Washington quarters as a child, I was drawn to type collecting when I resumed as a grown up.
I enjoy the variety of U.S. Coins regardless of metal composition or time period.
Type collecting allows me to "see it all".

Tiny

In some ways I am OCD with certain coins like why would anyone collect just one year and mint
mark Morgan Dollar. Well I do and now have ove 200 1879 S Morgans mostly graded by every
third party grading company and a few third world graders also. One day I'll probably decide to
sell them and move on to something else but they are my mission for now. I do have other series
I collect like toned coins and early commemorative coins along with pedigree coins but I got OCD
on those as well so I'm moving them out and instead of having 10 or 15 Fitzgerald or McClaren
Collection dollars I have 2 or 3 and look for others I do not have any of.

I would say the psychology behind me is too enjoy what I collect and collect what I enjoy. With so
many different kinds of little and large silver, copper and other types of metal round discs out there
I just can't get enought.

nwcoast

<< <i>To me I think it is a blend of artistic appreciation, historical appreciation, and (hopefully) even some capital appreciation. >>



I'd like to think that this says it perfectly for my situation as well!

(for psychology label purposes however, you might want to add a touch of OCD, delusions of grandeur punctuated by some paranoia and delusions of persecution).

Coinsponge

(for psychology label purposes however, you might want to add a touch of OCD, delusions of grandeur punctuated by some paranoia and delusions of persecution). >>




Wow, you might have difficulty collecting guns in the future.

But at least you can always collect coins no matter what your affliction.

Senex

Well, I have a nice home, a new car, go on vacations - so what else can I spend my money on?

taxbuster1040

It is my goal to collect one of each coin ever made...... or die trying......

SmallTownCoins

I am Caveman, Hunt, Gather, store in Cave.. Uuggg

MidLifeCrisis

I am narcissistic.

I have OCD.

I like to show off.

"I race cars, play tennis, and fondle women, BUT! I have weekends off, and I am my own boss."

WingedLiberty1957

<< <i>I am Caveman, Hunt, Gather, store in Cave.. Uuggg >>




classic!

ColonelJessup

and now for some LATE BREAKING NEWS......



<< <i>I am narcissistic.

I have OCD.

I like to show off.

"I race cars, play tennis, and fondle women, BUT! I have weekends off, and I am my own boss." >>



You speak for so many of us......

ambro51

Men collect things because they cannot get pregant and have babies.

Sonorandesertrat

Psychology of coin collecting? It's more like disease management. Some people have a very good immune response where numismatics are concerned. Not me. I am infected for life.

BryceM

I like shiny things. This is a trait common to such cerebral giants as crows, blue jays, mice, and several other life forms.

That's probably 90% of the psychology of it.

The other 10% would be appreciation of the history, the thrill of the hunt, pride in owning something rare and desirable, dreams of potential financial reward (tempered by reality), and relationships with others who share the same sickness.

BTW, anyone who isn't distrustful of our current financial system is truly ill.

Coinsponge

<< <i>Psychology of coin collecting? It's more like disease management. Some people have a very good immune response where numismatics are concerned. Not me. I am infected for life. >>




I guess you have NAIDS. Numismatic Acquired Immune Deficiency Syndrome

Maybe there is a government study grant available.

Raybob15239

<< <i>In some ways I am OCD with certain coins like why would anyone collect just one year and mint
mark Morgan Dollar. Well I do and now have ove 200 1879 S Morgans mostly graded by every
third party grading company and a few third world graders also. One day I'll probably decide to
sell them and move on to something else but they are my mission for now. I do have other series
I collect like toned coins and early commemorative coins along with pedigree coins but I got OCD
on those as well so I'm moving them out and instead of having 10 or 15 Fitzgerald or McClaren
Collection dollars I have 2 or 3 and look for others I do not have any of.

I would say the psychology behind me is too enjoy what I collect and collect what I enjoy. With so
many different kinds of little and large silver, copper and other types of metal round discs out there
I just can't get enought. >>



Now you need to go back and attribute all of those 200 1879S Morgans for the VAM number!

yellowkid

I believe that, for the most part, collectors are born, not made. I have collected all my life, started with coins as a kid, and then returned to it almost 50 years later. I have been involved in collecting something since the early 70's. I remember a gentleman at an antique show in Shaker Heights telling me I had a "good eye" when a mocha teapot caught my eye, and that my tastes would "mature," I remember thinking "Right, I'm going to collect teapots" but darned if he wasn't correct and 25 years later I was a mocha collector. I have a number of collecting interests now that I actively pursue. For me it's always been about the design and beauty of the object, followed by it's historical significance. I suppose collecting fulfills some psychological need, but I don't analyze it.

coinsarefun

<< <i>I am narcissistic.

I have OCD.

I like to show off.

"I race cars, play tennis, and fondle women, BUT! I have weekends off, and I am my own boss." >>

s4ny

<< <i>Lately it is a competition with my nemesis, XF45.

>>



I love XF45 to AU58. Coins that got out and circulated a bit, but show little wear.

originalisbest

Properly summarized: "glutton for punishment"

sniocsu

<< <i>

<< <i>
Are cherrypickers narsissistic?
>>



I don't know, the varieties in some series make me think they're more masochistic than narcissistic >>



So, so true

cladking

I've got champagne tastes and a beer budget. I like perfection and like all collectors I treasure rarity.
I'm fascinated by chaos (circulation) and statistics. I've always preferred to work alone and out of the
limelight. I don't really care what others think of me or my actions.

I always go clad. It's not just modesty but a way of life. I'll always be a pretender to the throne.

Of course I like lots of coins, tokens, and medals besides but they mostly all fit the reasons I collect at all.
They are mementos of the past and the past of those I've known.


They are all a reminder that our lives are fleeting and that time time marches on.

coinsarefun

<< <i>I've got champagne tastes and a beer budget. I like perfection and like all collectors I treasure rarity.
I'm fascinated by chaos (circulation) and statistics. I've always preferred to work alone and out of the
limelight. I don't really care what others think of me or my actions.

I always go clad. It's not just modesty but a way of life. I'll always be a pretender to the throne.

Of course I like lots of coins, tokens, and medals besides but they mostly all fit the reasons I collect at all.
They are mementos of the past and the past of those I've known.


They are all a reminder that our lives are fleeting and that time time marches on. >>







So eloquently stated sir cladking

MrEureka

I suppose I could write a book on why and how and what I collect. For now, I'll just focus on one aspect of it all, because it has been on my mind.

I prefer one valuable coin to many cheaper coins, in part, because I'm drawn to extreme value in condensed form, and because I hate clutter. (I have always had a bias for trading multiple items for a single item.) I suspect there's some sort of connection between this concept and mankind's visceral attraction to gold.

I prefer raw coins to slabs, in part, for the same reason. Owning a nice set of Seated Quarters in two Whitman folders would be a dream come true. The same coins in slabs in a giant safe deposit box would have little appeal to me.

I should add that the present reality of the market, where slabs are essential, would drive me away from collecting a large set - slabbed sets are bulky - and towards collecting a small number of trophy coins. Another reason for the widening divide between "the best and the rest", perhaps.

SkyMan

With regards to collecting coins in general; the associated history, aesthetic appeal, rare metal(s), the thrill of the hunt and OCD all play a part. As far as my favorite series, Franklins, goes, what started me off was because I was born in 1958 and Franklins were the largest coins minted during that year.

As far as collecting in general goes, which for me would be space memorabilia from (generally) the 1961 - 1975 timeframe, the Space Race was something that I grew up with. I also feel that the history associated with it is very comparable to the great voyages of discovery in the 15th and 16th centuries. Finally I'm just fascinated by space in general.

Coinosaurus

John Adams put it best - "collecting is a low form of greed."

leothelyon

I think once we get rid of the people who wish we would all think alike, the kind of thinking that will lead them to eternal damnation, this world would be a better place to live in!

Walkerfan

I am very picky and I love SCARCE, SCARCE, well preserved conditional rarities. Add a lot of beauty, history and potential for profit. I guess that puts me in the OCD, narcissistic crowd!! lol

bosco5041

I don't guess I know myself very well because I really can't say why I collect exactly. All I know is when someone would speak of old coins or for that matter anything old I would get really interested and excited even as a very young kid. In my case what yellowkid said about being born a collector and not made is true for me.

wondercoin

"I've got champagne tastes and a beer budget. I like perfection and like all collectors I treasure rarity.
I'm fascinated by chaos (circulation) and statistics. I've always preferred to work alone and out of the
limelight. I don't really care what others think of me or my actions.

I always go clad. It's not just modesty but a way of life. I'll always be a pretender to the throne.

Of course I like lots of coins, tokens, and medals besides but they mostly all fit the reasons I collect at all.
They are mementos of the past and the past of those I've known.

They are all a reminder that our lives are fleeting and that time time marches on."
****************************************

This guy is on a roll with his musings of late.

Wondercoin

lordmarcovan

From the OP:


<< <i>I remember reading many years ago that coin collecting was a blend of acquisitiveness, intellectual curiosity, a desire to possess and organize tangible objects, a perhaps an attempt at immortality, and a certain amount of showing off. >>



Sums it up pretty well, as far as I'm concerned. If you add in a dash of "appreciation of beauty" with that "intellectual curiosity" part.

Broadstruck

<< <i>Men collect things because they cannot get pregant and have babies. >>



ambro51, What a wasted talent... You should be writing fortunes in cookies!

Fountainhead

What makes collecting coins different from collecting stamps or tulips?

TwoSides2aCoin

Coping with numismatics requires having a little fun at the shop. My assault weapon has six strings and plugs into an amplifier. It scares the gang bangers when I play country.

Staircoins

I have CDO.

It's like OCD, but the letters are in alphabetical order LIKE THEY SHOULD BE!!!!!

BillJones

I like most anything that has to do with history and has a good story behind it.

I guess I'm going too far. I put together an exhibit at the last FUN on gold dollars, which won nothing. It's the first time I've even been shut out as an exhibitor. One judges complained that I had early silver dollars included in it. Well I did explain that the Coinage Act of 1792 did define the U.S. dollar both in terms of silver and gold and that a gold dollar was considered in the 1792 Act but not made into law. I guess sometimes too much information is not a good thing.

Baley

I like 200+ year old raw coins in grades like Good. I like to imagine their journey from the early mint to my fingertips, and then on into the future.

Shamika

I believe the psychology of collecting is a symptom of our species "hunter/gatherer" mentallity going unfulfilled in a modern society. Although I love bringing order to a collection of similar items, I most enjoy the hunt. In fact, it almost doesn't matter what I'm collecting so long as it's difficult (but not impossible) to locate.

comma

History.
There's such a deep connection to "things".
For me, collecting anything is about the history. Whether it be traced to an individual, an event, or an entire period.

pruebas

<< <i>I suppose I could write a book on why and how and what I collect. For now, I'll just focus on one aspect of it all, because it has been on my mind.

I prefer one valuable coin to many cheaper coins, in part, because I'm drawn to extreme value in condensed form, and because I hate clutter. (I have always had a bias for trading multiple items for a single item.) I suspect there's some sort of connection between this concept and mankind's visceral attraction to gold.

I prefer raw coins to slabs, in part, for the same reason. Owning a nice set of Seated Quarters in two Whitman folders would be a dream come true. The same coins in slabs in a giant safe deposit box would have little appeal to me.

I should add that the present reality of the market, where slabs are essential, would drive me away from collecting a large set - slabbed sets are bulky - and towards collecting a small number of trophy coins. Another reason for the widening divide between "the best and the rest", perhaps. >>

Having all one's eggs in one basket comes to mind.

jrcowboy

The thing that I like most is looking through a bunch of old coins and finding the the one that fits in a group that I am trying to put together . That coin thats not too clean looking and has a strong enough strike to have some details, this can be tough from just looking a photos. You need to have it in your hand to evaluate. That moment when you know you found one you need for your latest collection thats what its all about , making money off your hobby is nice but if thats all you have thats driving you to collect , then very soon you will be wanting silver bars, diecast cars or gold shaped poodles . As others have said the history of our country can be seen in the coins we mint , and my hat is off to those brave souls who dare to collect those coins.

Unknown

This content has been removed.

fc

Because rare coins cost a lot of money and they can be a status symbol?

Fountainhead

<< <i>Because rare coins cost a lot of money and they can be a status symbol? >>

Yet the stamps market collapsed while the coin market survived, even though coin transactions now pale compared to credit ones while billions of letters get new stamps every year.

I don't really understand it. I started out as a stamp collector in my early teens. I lost interest. When fifteen years ago I calculated that I needed to establish non-traditional investments stamps wasn't even a thought in my mind: the choices boiled down to numismatics & exonumia (both of which I knew nothing about at the time) or Dutch Masters. Why didn't I think at all about stamps? Of course, it wouldn't have done me any good if I did...

I think it was FDR who pretty much popularized stamp collecting for Americans. There was some cachet in sharing the same hobby as the president. Once gold was legalized again and shot up to $800 in 1980 interest in coins began to overshadow stamps. As the FDR generation departs, so too their favored hobby.

Coin collecting is thousands of years old, stamp collecting a bare hundred and sixty or so. The world is full of money- and coin-changers; nobody is going to change your stamp for you. Yet....I don't see the current generation of young'uns interested in coins. When the Boomers go, who will purchase all their 1909-S VDBs?