Collecting is a hobby acquired from the love of coins, numismatics is a science of the study of coins, dealing is the business of making money off coins. All three are required to sustain the hobby, a good collector appreciates that.
Buying toned coins from the internet by using the seller's photos as your guide often turns out to be very disappointing when you finally view the coin in hand.
I never thought that growing old would happen so fast. - Jim
My current coin collecting interests are: (1) British coins 1838-1970 in XF-AU-UNC, (2) silver type coins in XF-AU with that classic medium gray coloration and exceptional eye appeal.
"government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
<< <i>If there is any chance that a coin might be considered a problem coin, might be considered to have an "issue", has something distracting in the least bit...then that means future buyers will have the same view. Don't buy problem coins! >>
i like that as well. i do not buy problem coins either
Almost any time a collector wins a lot in a major auction it is because one of two things happened. Either you paid fairly close to full retail (or more) and therefore the dealers dropped out or you got stuck with a coin that no dealer wanted to put in his case.
While I personally have no problem paying full retail or more for the "right" coin I want to make sure that the second option is not in play. ALWAYS preview auction lots either in person or at the very least through a trusted agent.
Just because I'm old doesn't mean I don't love to look at a pretty bust.
<< <i>I find of great value: don't talk yourself into buying a coin. If something bothers you about a coin, it is likely to bother you as much or more over time. >>
On my Morgan Set I am putting together, this has been in my mind the whole time.
I have passed on many coins with small imperfections that would always bother me if I bought them. Carbon Spots, Large Contact Marks, etc.
Especially with Morgans, you can usually find a better coin, you just need to be patient.
If the coin you buy bother you now, it will likely bother someone else in the future Buy the best for the grade Don't be afraid to step up for the right coin
<< <i>Buying toned coins from the internet by using the seller's photos as your guide often turns out to be very disappointing when you finally view the coin in hand. >>
That is sure true. I have bought colorfully toned coins online, but only when the premium was minimal.
Build the best set that you can to please yourself - and then submit the entire set together for crossover/set review. The graders like to rank a set's coins.
<< <i>Almost any time a collector wins a lot in a major auction it is because one of two things happened. Either you paid fairly close to full retail (or more) and therefore the dealers dropped out or you got stuck with a coin that no dealer wanted to put in his case. >>
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
MGLICKER....thank you very much for the praise. It was a lesson that I learned from Steve Duckor and David Akers.
The common situation is that we all need certain elusive coins and sometimes if the wait has been long one we are too eager sometimes to just jump on the first one that comes for sale. The thought of how it truly grades is moot, you want it! But as Bruce said, buy one that isn't what you really like and it will bug you every day and every time you look at it! Been there a few times with some very scarce Saints and eventually I sold every one of them when a superior one came along, many times in the same grade. And I paid more and felt great afterwards.
"Good coins aren't cheap, and cheap coins aren't good."~Coindeuce. That's so true. If you're a price buyer as a collector you'll have trouble with this one. But "hole-fillers" are looked at as blasé' when the set is looked at as a whole. I was advised early in my resuming collecting that of the 40 Saints I had, (most of which were MS64's); to sell them all and buy only GEM MS65's and even if it meant having 10 instead of 40 they would be far more important and significant. I did it over a year's time and it was the SINGLE best advice I ever received. It was from Steve Duckor in our very first email exchange in Feb 2002! I was startled at the advice but I "got it"...and I did it and we became a great team pursuing the best that come to market for almost 10 years. Granted, it's not a hard rule for collectors who work within their appropriate budgets, which we ALL have. But if it simply means have less but better I think it's the key to more meaningful AND satisfying collecting. Nothing is as cool as looking at your select coins that you really ferreted out and beaming at them beaming back at you! And the sliders mock you to death. I've been "mocked" I'm sure Bruce and every collector has and usually we wanted to 86 them at our first opportunity. I strongly advocate "lateral upgrading"...keep buying the better coin of your grade, pay a little more and eventually you will be richly rewarded. I can't stress that enough. My few coins, the "syrup" , sold at 30-50% premiums three years ago and it wasn't a market top that was the reason. There were exactly the same grade coins back to back as a few of mine and they sold for 30-40% less! (1921, 1929, 1931-D) That was the satisfaction, I believe along the lines that Bruce referred to. This is a passion and a luxury and something that only WE get...but everyone can benefit from this rule of nothing less than your standard.
Back to when it all began: No one ever lost a penny by passing on a coin. DON"T COMPROMISE your standard. It will become your aggravation.
Those were my exact words and they became my gospel.
Comments
``https://ebay.us/m/KxolR5
All three are required to sustain the hobby, a good collector appreciates that.
Have a goal or collecting plan and stick to it.
Buy the coin not the holder.
Research, research and more research.
Form alliances with good mentors whether dealers or collectors.
Quality doesn't come cheap.
Buy the keys first.
building a good set is a 24/7 job.
Time is a good money-maker (adjusted for inflation, of course).
You have to be PASSIONATE to really succeed.
I'll think of more as I go along.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
- Jim
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
Tom
Some people have more money than brains.
RIP Mom- 1932-2012
Useful numismatic tips that you have learned.
...always handle raw coins by the edge....
<< <i>If there is any chance that a coin might be considered a problem coin, might be considered to have an "issue", has something distracting in the least bit...then that means future buyers will have the same view. Don't buy problem coins! >>
i like that as well. i do not buy problem coins either
``https://ebay.us/m/KxolR5
While I personally have no problem paying full retail or more for the "right" coin I want to make sure that the second option is not in play. ALWAYS preview auction lots either in person or at the very least through a trusted agent.
<< <i>I find of great value: don't talk yourself into buying a coin. If something bothers you about a coin, it is likely to bother you as much or more over time. >>
On my Morgan Set I am putting together, this has been in my mind the whole time.
I have passed on many coins with small imperfections that would always bother me if I bought them. Carbon Spots, Large Contact Marks, etc.
Especially with Morgans, you can usually find a better coin, you just need to be patient.
Buy the best for the grade
Don't be afraid to step up for the right coin
WS
<< <i>Buying toned coins from the internet by using the seller's photos as your guide often turns out to be very disappointing when you finally view the coin in hand.
That is sure true. I have bought colorfully toned coins online, but only when the premium was minimal.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Don't share with weirdos
Don't inspire nuts
Don't entertain fools
Build the best set that you can to please yourself - and then submit the entire set together for crossover/set review. The graders like to rank a set's coins.
<< <i>Almost any time a collector wins a lot in a major auction it is because one of two things happened. Either you paid fairly close to full retail (or more) and therefore the dealers dropped out or you got stuck with a coin that no dealer wanted to put in his case. >>
Don't believe everything you read on this forum.
<< <i>You can't buy enough numismatic literature. >>
My wife would disagree with you.
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
The auction format is unforgiving when your mind is not on the subject.
The common situation is that we all need certain elusive coins and sometimes if the wait has been long one we are too eager sometimes to just jump on the first one that comes for sale. The thought of how it truly grades is moot, you want it! But as Bruce said, buy one that isn't what you really like and it will bug you every day and every time you look at it! Been there a few times with some very scarce Saints and eventually I sold every one of them when a superior one came along, many times in the same grade. And I paid more and felt great afterwards.
"Good coins aren't cheap, and cheap coins aren't good."~Coindeuce. That's so true. If you're a price buyer as a collector you'll have trouble with this one. But "hole-fillers" are looked at as blasé' when the set is looked at as a whole. I was advised early in my resuming collecting that of the 40 Saints I had, (most of which were MS64's); to sell them all and buy only GEM MS65's and even if it meant having 10 instead of 40 they would be far more important and significant. I did it over a year's time and it was the SINGLE best advice I ever received. It was from Steve Duckor in our very first email exchange in Feb 2002! I was startled at the advice but I "got it"...and I did it and we became a great team pursuing the best that come to market for almost 10 years. Granted, it's not a hard rule for collectors who work within their appropriate budgets, which we ALL have. But if it simply means have less but better I think it's the key to more meaningful AND satisfying collecting. Nothing is as cool as looking at your select coins that you really ferreted out and beaming at them beaming back at you! And the sliders mock you to death. I've been "mocked" I'm sure Bruce and every collector has and usually we wanted to 86 them at our first opportunity. I strongly advocate "lateral upgrading"...keep buying the better coin of your grade, pay a little more and eventually you will be richly rewarded. I can't stress that enough. My few coins, the "syrup"
Back to when it all began: No one ever lost a penny by passing on a coin. DON"T COMPROMISE your standard. It will become your aggravation.
Those were my exact words and they became my gospel.
Wait....can a Buddhist have a "gospel"?