Greed isn't so much the issue as a little fact that most people never talk about; part of the motivation of collecting coins isn't merely to save coins but to make money. This is at least a small part of most peoples' motivation. If we merely wanted to collect there are other things that are as important or historic as coins but we chose coins. Coins have always had a lot of appeal for obvious reasons. Then most young collectors have a long learning curve when they lose money and not losing it becomes more important when they start spending more money.
Everytime there's a mania in a collectibles market (even beanie babies) people get greedy and lose money. Most coin collectors aren't involved in these manias most of the time so I wouldn't call greed their motivation.
<< <i>I hope to get to the ANA when it comes to Philadelphia again. I was going to go last time but had a scheduling conflict...and now I don't even remember what it was, LOL. >>
If you love history, I hope you have the health and the finances to visit some historic sites. The ANA convention is like this forum, mostly about the commerce, the buying and selling of coins, maybe 20% or less about the rest (history, art, etc). Personally, if the main interest is history, the ANA convention would be way down the list of potential things to do and see. The list of historic American places is near endless, off the top of my head: Philly's historic district, Williamsburg, Washington D.C., Boston's Freedom trail, New York City, and on and on and on. Further afield there are so many more places. For those with the time, money and the interest, there are group trips organized for those interested in history, with special guides, special lectures, special events.
History lives and breathes at the places where things happened. Coins are a pale shadow of the history. I think the main appeal is that a person can own a coin, put it in their pocket, hold it in their hand. Still, a coin tends to be a sterile reminder as compared to seeing, hearing the stories from a docent or guide, walking the streets, halls or battlefields where the history actually took place.
<< <i>I have noticed something here and other places. More and more people are more interested in making money than collecting coins. This will be the down fall of the hobby. Greed has NO place in the coin collecting hobby. Just my view,. >>
The handbasket appeared on the horizon when slabbing began. It's hard to love a coin you cannot touch. >>
I agree Tom,but do remember those gloves.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
<< <i>Greed isn't so much the issue as a little fact that most people never talk about; part of the motivation of collecting coins isn't merely to save coins but to make money. This is at least a small part of most peoples' motivation. If we merely wanted to collect there are other things that are as important or historic as coins but we chose coins. Coins have always had a lot of appeal for obvious reasons. Then most young collectors have a long learning curve when they lose money and not losing it becomes more important when they start spending more money.
Everytime there's a mania in a collectibles market (even beanie babies) people get greedy and lose money. Most coin collectors aren't involved in these manias most of the time so I wouldn't call greed their motivation. >>
I don't lament the state of the hobby. As the super-trite statement goes: It is what it is.
It would be nice to have positive financial return on my collection - but I do enjoy my collection now and will in the future as well.
Collecting is fun. Coins are great pieces of history. Coins are very nice objets d'art.
I appreciate the availability of the Sunnywood collection. I see it as an opportunity.
I will not spend time wondering why it is being sold/whether its sale and other recent sales of important collections portend negatively on the hobby/whether a profit will be made on the sale/whether the previous owner sold at the peak.
I am focusing on squirreling money away for a few of these gorgeous coins that I am interested in and have a realistic shot at acquiring.
Realistically, I believe I will be priced out due to the high quality of the toners for sale. I hope I am wrong, and I'll sure as F be in there swinging.
The thrill of the hunt.
A couple of additional toners in my collection would surely be very nice and welcomed.
I visit as many historic sites as I can. I am not able to do a whole lot of traveling but I do a whole lot of reading. Not quite the same as being there, but for me, in many cases, the best I'm going to get.
Living in the Hudson Valley of NY gives me a lot of historical places close to home, many of which I have visited or plan to at some point in the future. Unfortunately a lot of those visits came before we had a digital camera.
Coin collecting will always be a hobby for me, but there is a certain level of pride one can take when they sell a coin for more than they paid. It is validation that you have a good eye for value and somebody else appreciates your collection. I don't do this for the cash, but at the end of my life I would like to be able to pass along a nice collection to my kids. It's my hope that when they see what I paid, they won't shake their heads and curse their crazy dad and his expensive hobby!
I have Walter Breen's Complete Encyclopedia of US and Colonial coins. The book was written almost 25 years ago. The word greed is used quite a bit or as "that five finger word" metaphor. I have been in coins since the sixth grade..........Nothing is new under the sun. Even the TPGs succumb to it. What they resolve becomes what they thrive upon.
WTF?? The Mint is going to make as many as they get orders for? I am cancelling the order for the 5 our family placed. And the 5 my mother-in-law orderded. And the 5 my son-in-law ordered. And the 5 our pit bull ordered.. How am I supposed to flip these for double if everybody can get one at issue price.
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
<< <i>The most recent example is the gold Kennedy.
Typical comment
WTF?? The Mint is going to make as many as they get orders for? I am cancelling the order for the 5 our family placed. And the 5 my mother-in-law orderded. And the 5 my son-in-law ordered. And the 5 our pit bull ordered.. How am I supposed to flip these for double if everybody can get one at issue price. >>
I can't see paying $1653 per ounce of gold for this .75 gold coin. But special labels and packaging will get you more? Something smells rotten in Denmark. I suspect when gold drops to $800, these coins will be worth $600-$650.........not a good investment. And when will gold return to $1650 again? hmmm
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
Comments
of the motivation of collecting coins isn't merely to save coins but to make money. This
is at least a small part of most peoples' motivation. If we merely wanted to collect there
are other things that are as important or historic as coins but we chose coins. Coins have
always had a lot of appeal for obvious reasons. Then most young collectors have a long
learning curve when they lose money and not losing it becomes more important when they
start spending more money.
Everytime there's a mania in a collectibles market (even beanie babies) people get greedy
and lose money. Most coin collectors aren't involved in these manias most of the time so
I wouldn't call greed their motivation.
<< <i>I hope to get to the ANA when it comes to Philadelphia again. I was going to go last time but had a scheduling conflict...and now I don't even remember what it was, LOL. >>
If you love history, I hope you have the health and the finances to visit some historic sites. The ANA convention is like this forum, mostly about the commerce, the buying and selling of coins, maybe 20% or less about the rest (history, art, etc). Personally, if the main interest is history, the ANA convention would be way down the list of potential things to do and see. The list of historic American places is near endless, off the top of my head: Philly's historic district, Williamsburg, Washington D.C., Boston's Freedom trail, New York City, and on and on and on. Further afield there are so many more places. For those with the time, money and the interest, there are group trips organized for those interested in history, with special guides, special lectures, special events.
History lives and breathes at the places where things happened. Coins are a pale shadow of the history. I think the main appeal is that a person can own a coin, put it in their pocket, hold it in their hand. Still, a coin tends to be a sterile reminder as compared to seeing, hearing the stories from a docent or guide, walking the streets, halls or battlefields where the history actually took place.
<< <i>
<< <i>I have noticed something here and other places.
More and more people are more interested in making money than collecting coins.
This will be the down fall of the hobby.
Greed has NO place in the coin collecting hobby.
Just my view,. >>
The handbasket appeared on the horizon when slabbing began. It's hard to love a coin you cannot touch. >>
I agree Tom,but do remember those gloves.
<< <i>Greed isn't so much the issue as a little fact that most people never talk about; part
of the motivation of collecting coins isn't merely to save coins but to make money. This
is at least a small part of most peoples' motivation. If we merely wanted to collect there
are other things that are as important or historic as coins but we chose coins. Coins have
always had a lot of appeal for obvious reasons. Then most young collectors have a long
learning curve when they lose money and not losing it becomes more important when they
start spending more money.
Everytime there's a mania in a collectibles market (even beanie babies) people get greedy
and lose money. Most coin collectors aren't involved in these manias most of the time so
I wouldn't call greed their motivation. >>
Good post and well explained, IMO.
Tom
I don't lament the state of the hobby. As the super-trite statement goes: It is what it is.
It would be nice to have positive financial return on my collection - but I do enjoy my collection now and will in the future as well.
Collecting is fun. Coins are great pieces of history. Coins are very nice objets d'art.
I appreciate the availability of the Sunnywood collection. I see it as an opportunity.
I will not spend time wondering why it is being sold/whether its sale and other recent sales of important collections portend negatively on the hobby/whether a profit will be made on the sale/whether the previous owner sold at the peak.
I am focusing on squirreling money away for a few of these gorgeous coins that I am interested in and have a realistic shot at acquiring.
Realistically, I believe I will be priced out due to the high quality of the toners for sale. I hope I am wrong, and I'll sure as F be in there swinging.
The thrill of the hunt.
A couple of additional toners in my collection would surely be very nice and welcomed.
Living in the Hudson Valley of NY gives me a lot of historical places close to home, many of which I have visited or plan to at some point in the future. Unfortunately a lot of those visits came before we had a digital camera.
when they sell a coin for more than they paid. It is validation that you have a good eye for value and
somebody else appreciates your collection.
I don't do this for the cash, but at the end of my life I would like to be able to pass along a nice collection
to my kids. It's my hope that when they see what I paid, they won't shake their heads and curse their
crazy dad and his expensive hobby!
With that said, I still think it is possible to enjoy the hobby by buying smart and doing your homework.
Typical comment
WTF?? The Mint is going to make as many as they get orders for? I am cancelling the order for the 5 our family
placed. And the 5 my mother-in-law orderded. And the 5 my son-in-law ordered. And the 5 our pit bull ordered..
How am I supposed to flip these for double if everybody can get one at issue price.
<< <i>The most recent example is the gold Kennedy.
Typical comment
WTF?? The Mint is going to make as many as they get orders for? I am cancelling the order for the 5 our family
placed. And the 5 my mother-in-law orderded. And the 5 my son-in-law ordered. And the 5 our pit bull ordered..
How am I supposed to flip these for double if everybody can get one at issue price. >>
I can't see paying $1653 per ounce of gold for this .75 gold coin. But special labels and packaging will get you more? Something smells rotten in Denmark. I suspect when gold drops to $800, these coins will be worth $600-$650.........not a good investment. And when will gold return to $1650 again? hmmm
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection