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Can one still be called a, " Coin Collector"...

joeykoinsjoeykoins Posts: 14,787 ✭✭✭✭✭
edited February 3, 2017 2:35PM in U.S. Coin Forum

Hi Guy's, If a person would sell all his/her collection, but still stays in the Hobby for only making a profit. Would that person still be categorized as that coveted name, Coin Collector? For instance, I might be one of those persons? My collection is just about liquidated and I'm seriously thinking about going that route. Only Cherrypicking, hunting for Silver at banks, checking my change (CoinStar, on the ground, checking for varieties/errors, etc...) but no more collecting them to hold on to. Maybe, an occasional coin or two but not any accumulations of coins anymore. How about you guy's? Is there any of you that fits this description of this kind of collector? or should I say, non-collector? Thanks in advance. -joey

"Jesus died for you and for me, Thank you,Jesus"!!!

--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.

Comments

  • WalkerfanWalkerfan Posts: 8,897 ✭✭✭✭✭

    The people that hold are also investors.

    People that appreciate and study are numismatists.

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭
    edited February 3, 2017 2:42PM

    This is a hobby. Unless you form a business and get an EIN, etc., treating numismatics as a means to obtain your primary source of income, it remains a hobby. Some people stop actively buying coins, and instead do other things to remain active participants in the hobby--sorting through change, metal detecting, reading/researching numismatic literature, etc. It's all good. However, I don't view 'Coin Collector' as an honorific. In some sectors of the coin business, 'coin collector' is just another word for 'potential chump'. Most non-collectors aren't really impressed by coins---unlike fine paintings or antique cars---and tend to view the hobby as nerdy, right up there with collecting first editions of books (yeah, I have a large book collection too). Your involvement in numismatics as a 'nonprofessional' should be whatever you find enjoyment doing.

    I have gone through periods when I stopped actively buying coins, mostly because I was in college and didn't have the time or because I had bad interactions with dealers. My interest in history brought me back each time. And I always viewed myself as a coin collector (I kept my coins) even when I was not actively buying.

    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    @joeykoins
    I don't think you are allowed to leave the club after being here for five years. :smile:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • cameonut2011cameonut2011 Posts: 10,060 ✭✭✭✭✭

    I would call you a vest pocket dealer. I am starting to move that way myself. I enjoy numismatics, but there is too much instability in the market. I am concerned about the long term health of the hobby.

  • NapNap Posts: 1,702 ✭✭✭✭✭

    Collectors are looking to accumulate.

    They may not have the funds to do so, and that is fine. But if there is no interest in acquiring, you're not really collecting. Unless of course you've already obtained them all.

    I know plenty of people who "used to collect" Beanie Babies, Magic the Gathering cards, gems and minerals, etc. Since they are no longer trying to build a collection, I call them "erstwhile collectors."

    On the other hand, you can be a numismatist without ever buying a coin.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    I've never collected coins or bullion to hold on "until death do us part." Eventually, all will or have been sold, most for a profit. I dispose of my "dogs" ASAP. You win some and loose sum, but it's the challenge that keeps me involved.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • rooksmithrooksmith Posts: 972 ✭✭✭✭

    People who buy then sell on a rising market are called "Coin Flippers", not to be confused with referees.

    “When you don't know what you're talking about, it's hard to know when you're finished.” - Tommy Smothers
  • joeykoinsjoeykoins Posts: 14,787 ✭✭✭✭✭

    @rooksmith said:
    People who buy then sell on a rising market are called "Coin Flippers", not to be confused with referees.

    I like the way you put that. The Referees, part is funny!

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • rooksmithrooksmith Posts: 972 ✭✭✭✭
    edited February 3, 2017 4:14PM

    Ref's are knows as the "coin tossers".

    If you spout off to them you get ejected and are an "86'er", unless of course, if you're a 49er fan - in which case you are probably already a "69'er" anyway.

    “When you don't know what you're talking about, it's hard to know when you're finished.” - Tommy Smothers
  • CascadeChrisCascadeChris Posts: 2,512 ✭✭✭✭✭
    edited February 3, 2017 4:12PM

    @OPA said:
    I've never collected coins or bullion to hold on "until death do us part." Eventually, all will or have been sold, most for a profit. I dispose of my "dogs" ASAP. You win some and loose sum, but it's the challenge that keeps me involved.

    I still have 2 Alpha & 1 Beta Black Lotus's from when I was an MTG competition player back in the 90s. I was ranked 9th in the country at one time. Used to love going up to WotC HQ in Renton for the world championships. I would have never imagined that the Lotus's I bought for $300 back then would be worth up to $10k each today. Insane! Glad I kept them though. The beta is signed by Richard Garfield though so I'm not sure how that will affect value if I ever sell. My guess is it will enhance the value.

    The more you VAM..
  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    As coin collector turned dealer, I handle way more super cool coins than I could ever do as a collector.

  • KellenCoinKellenCoin Posts: 1,193 ✭✭✭✭

    I would say Yes

    YN Member of the ANA, ANS, NBS, EAC, C4, MCA, PNNA, CSNS, ILNA, TEC, and more!
    Always buying numismatic literature and sample slabs.

  • Sandman70gtSandman70gt Posts: 978 ✭✭✭✭✭

    Collector by definition is one who collects, hoards if you will.

    col·lec·tor
    kəˈlektər/
    noun
    1.
    a person who collects things of a specified type, professionally or as a hobby.
    "an art collector".
    So then, no by definition, but...

    personally if you did collect and still are interested in, then yea, you are still a coin collector. You still got the bug.

    Bst transactions with: dimeman, oih82w8, mercurydimeguy, dunerlaw, Lakesammman, 2ltdjorn, MattTheRiley, dpvilla, drddm, CommemKing, Relaxn, Yorkshireman, Cucamongacoin, jtlee321, greencopper, coin22lover, coinfolio, lindedad, spummybum, Leeroybrown, flackthat, BryceM, Surfinxhi, VanHalen, astrorat, robkool, Wingsrule, PennyGuy, al410, Ilikecolor, Southcounty, Namvet69, Commemdude, oreville, Leebone

  • joeykoinsjoeykoins Posts: 14,787 ✭✭✭✭✭
    edited February 3, 2017 5:10PM

    Just want to make this clear, guy's. I'll probably NEVER leave behind being interested in coins. or leave the Forum. It's just the accumulation part. Too much work, space and time lost. Now, that I've learned so much here and from my Dealer friend, I can determine from good coins as to Great coins. or from more valuable to flip as to not so valuable to even try to flip. I Thank all of you guy's for taking me through school on these gems. Which in return has passed your knowledge to myself. <3

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭

    The path from collector to dealer to investor and back is ill defined at best. The profit motive dominates in the mind of many if not most players in the field even though the profits are often just an illusion.

    All glory is fleeting.
  • joeykoinsjoeykoins Posts: 14,787 ✭✭✭✭✭
    edited February 3, 2017 9:44PM

    I totally agree, Joe. Esp. if I were to pick up a Wheatie and I still would have that FIRE to hope that the date reads, 1943! Yes, that exclusive Copper Steel Cent. ;)

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • ZoinsZoins Posts: 33,811 ✭✭✭✭✭
    edited February 3, 2017 10:14PM

    @joeykoins said:
    If a person would sell all his/her collection, but still stays in the Hobby for only making a profit. Would that person still be categorized as that coveted name, Coin Collector?

    Sounds like having the coveted name of, Dealer?

    Nothing wrong with Collector, Dealer or Numismatist. Enjoy the hobby.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I am a collector...have been since a very young age....I still have coins from my childhood... not all though.. some were 'disposed' during my time in the Navy.... I do not foresee selling any of my coin collection... stacked gold or silver, perhaps..... Sure, my coins will likely be sold when I have passed... that is fine. Until then, I shall collect and enjoy coins. Cheers, RickO

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    edited February 4, 2017 8:43AM

    Most dealers are collectors too....or at a minimum are hoarders of nice stuff. If you put even one coin aside for down the road, you are part collector. If it weren't for dealers being collectors too, there would be a lot less demand for stuff in today's market.

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • johnny9434johnny9434 Posts: 27,412 ✭✭✭✭✭

    i prefer collector more then some of the other stuff i been called. oh well move on

  • oz_in_ohiooz_in_ohio Posts: 184 ✭✭

    In my learnings there are a few names for people on our hobby.
    1) They is the simple collector that does not care about condition...
    They just want their spaces or dates filled and have the coin legible to a degree.
    2. ) Then there is the speculator that only buys affordable cheaply priced items
    and hopes they will go up in value in years to come. But one needs
    a lot if money to just stash away items like this.
    5. Then there is the investor that only buys key dates that have proven
    themselves over time with low mintages , but are reluctant to sell
    6. Then there is the flicker and that is the person that buys something
    one day and sells it the next to make a quick small profit or turnover.

    In my learnings is a dealer one cannot be a collector.. They just do not meet.
    It cost me a lot of money to learn that lesson.

    The fact i never traded in the items i collect, made it easy for me.

    When there is a craze like stamps were between 1976 - 1981 , they need to
    sell or strike while the iron is hot keep them for years to come...
    A quick profit is the best profit. I have a saying that the best stamp, coin,
    war medal, badge, banknote etc is the last item sold as i now have that
    money and the item is now gone from my stock....

    In the early 1990's i discovered tazos or Pogs. I advertised in the local paper
    to buy them and i was flooded with phone calls from kids.
    Some little girl ( about 10 years old ) came to the house with her mother
    She asked me if i bought the tazos ir pogs and i said yes
    She went to her mums car and got a hugs bag of them and showed me...
    She said frito lay bags of chips etc but i already knew that... I looked in
    the bag and something came to me. I asked her if these were doubles....
    She said yes.. I then took out my wallet and offered her $50.00 the lot
    sight unseen. She took it... When the child went home i then made a board
    as shown in here for my set and was selling the rest. I would trade with
    children as this girl spread the word around at her school that i buy them
    and kids can get rid if their doubles ... I then started to trade 2 of theirs
    for 1 of mine that they needed to fill sets... Then it came to a stage i would
    buy them at 50c a piece, I bet you lot dont earn 100% on your coins in here!!!

    To cut a long story short, with the money i made from these pogs, i went
    on 1 cruise with my wife , had a 2 car garage built and a pergola in the front
    garden. I sold the entire stock what i had left for the original $50.00 and all it
    cost me was time....I liquidated because they were slowly dieing off
    I got in on the ground floor but when it was time to stop...i did.

    I made my own set by using a router on a piece of
    MDF board and the picture is in here. As you can see i did not collect them, i
    just had 1 set to make on a wall hanging to go in my office. They only came
    in warner brothers characters to my knowledge and not disney.

    Going by experience, i do not hoard. Sell the items off quickly and use
    that money to buy something else.

    As johnny9434 said, i moved on

  • Coin FinderCoin Finder Posts: 6,944 ✭✭✭✭✭

    Well, we are caretakers of our coins and collectibles. I've never seen a Brinks truck following a hearse. But, enjoy your coins however you choose to define yourself. I'm a coin collector first, dealer second...

  • BillDugan1959BillDugan1959 Posts: 3,821 ✭✭✭✭✭
    edited July 22, 2017 10:52AM

    One can be a "Numismatist" (student of coinage and related objects) and not own any coins, although that is very rare. If your angle on coins is solely mercenary, purely to make a profit, "collector" would no longer seem to fit.

  • GotTheBugGotTheBug Posts: 1,536 ✭✭✭✭✭
    edited September 18, 2019 4:26AM

    .

  • JimnightJimnight Posts: 10,767 ✭✭✭✭✭

    What ever turns you on

  • ARCOARCO Posts: 4,305 ✭✭✭✭✭

    Hunting for silver coins in change or wherever can be fun. I wouldn't worry about the label though. A coin collector IMO is a person who enjoys the hobby and history of numismatics whether they are actively buying coins or not.

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