Hypothetical: What percent of your coins would you buy again?

RYK · June 10, 2012 2:47AM

This is a common investing (really, behavioral finance) question, and even though we are primarily collectors, I thought I would modify it and pose this hypothetical.

Let's say that you were in a coma, your collection was sold by your family, and they received retail market value. You wake up, and your coins are now all for sale by a dealer, who, hearing your sad story, offers to sell any or all of the coins back to you at the price he paid (full retail value). Therefore, in every case, you can buy your coin back to your collection for what it costs on the open market, and you have the money to do so. Of course, you can use the money for other coins, for something else entirely, or (gasp!) save it.

The question is, "What percent of your coins would you choose to buy back?"

The follow-up question then becomes, "Why do you still own the coins you have chosen not to buy back?"

airplanenut · June 10, 2012 2:49AM

I'd probably keep most if not all. I've gone through a few rounds of paring down the collection in the last few years, and have added little since then. The only pieces I may have kept that aren't the greatest are the ones I still enjoy that wouldn't have netted me enough money to be worth selling. So perhaps I don't get as much enjoyment from them as I do others, but I get more enjoyment from them vs. the time cost of selling them.

Sonorandesertrat · June 10, 2012 2:57AM

I would buy about 90% of my pieces again. I sold almost everything in my collection (except for a few items given to me by my paternal grandmother) in 2007, after not having purchased any coins for about 15 years. I made some stupid purchases in 2007, when I returned to the hobby. Since then, I buy what coins/medals I want to keep (at least for a while). This takes lots of patience, and I satisfy my collector cravings buy working on numismatic literature-collecting projects.

Why don't I sell the other 10% of my coins? Laziness. These mistakes only represent ca. $20K, not enough to get me off my rear end to shop them around.

TheRaven · June 10, 2012 3:00AM

What a neat question.....

I think I would buy back a large percentage of my collection.....

One I can think I might not buy back could be the 2009 UHR, I like it bought at $1200 and I really have zero interest in selling it, but paying approximately $3000 I might want to spent that elsewhere.....

lcoopie · June 10, 2012 3:00AM

Huge difference between now and before I had any idea what I was doing.
I'm getting rid of many of those now.

LindeDad · June 10, 2012 3:01AM

Probably only buy back about half of them, simple fact is some are just hole fillers in sets.

Second question is a work in progress. Like to think I would sell them to get nicer ones down the line.

Moldnut · June 10, 2012 3:03AM

I would say about 70% of them. The others are coins that have been upgraded or are from a series I no longer collect that I chose not to sell.

BillJones · June 10, 2012 3:08AM

I have a couple pieces in my collection that regret buying, but the percentage-wise I'd say the number of "keepers" is close to 99% percent. A couple of the pieces I don't like have defects that I should have be more critical about them at the time of purchase. A couple others I simply paid too much, but I have not seen any offerings that would please me more than those coins so, what can I say?

As for regrets about what I have sold, I have very few of those. Mostly they are coins I would like to have today that will be more costly to replace. Coins I sold when I was a dealer don't count because they were never part of my collection.

Poppee · June 10, 2012 3:08AM

About 30%. I started out collecting all, now my interest is solely on two series...

keets · June 10, 2012 3:11AM

while i can't answer question #1 without a period of thought, the answer for question #2("Why do you still own the coins you have chosen not to buy back?") is relatively easy-----they are "widgets" which can be bought at a price less than full retail.

lkeigwin · June 10, 2012 3:14AM

I am happy with about 90%. But this scenario is a great opportunity to sell some series I care less about today than I did 5 or 10 years ago. I would probably buy back 50% and be pleased with a retail price sale for the other half.
Lance.

BAJJERFAN · June 10, 2012 3:25AM

I must have been in a coma when I bought some of them LOL or what was I thinking.

I'd say maybe 75% or so [assuming I'd still be looking for those particular coins]. There are a number I have which are commonly available [Laura's widget description] or some I thought were a good idea at the time, but maybe not such a hot idea now. I'm slowly paring down the stash to make way for new additions or generate cash for other needs. Can you PM the name of this Angelic dealer who is paying retail?

??? # 2. I still own the ones I wouldn't buy back because if I could sell for what I paid or for a nice profit, they'd be gone so fast I'd get whiplash from watching them go. Other than the BST here and other free venues I must admit that I have not been agressively pursuing their sale. I'm a bit leery of the auction venues.

Baley · June 10, 2012 3:26AM

The question is, "What percent of your coins would you choose to buy back?"

None

The follow-up question then becomes, "Why do you still own the coins you have chosen not to buy back?"

Inertia

scotty1419 · June 10, 2012 3:40AM

I've gotten rid of most I was not happy with. Of the coins I currently have, probably 60-80%

crypto79 · June 10, 2012 3:47AM

Good question, knowing what I know now I would have skipped a couple of collections and focused in sooner on my core set. I also would have skipped the handful of coins I bought and ten saw better around the corner but wasn't able to get because of the earlier one. Tha said everthing I messed up on is the road that got me here and overall I am happy with the journey and the bumps so I wouldn't change a thing even while openly admitting I have some upgrading to do. The process is where the fun is not some absolute cheapest possible route. IMO

RYK · June 10, 2012 3:47AM

I would say around 75%, for the core areas of my collection.

There are some coins in the "widget" category that I would let fly with little hesitation. There are also some coins that will be sold when the capital is required to fund additional purchases.

dogwood · June 10, 2012 3:57AM

I would buy back all of my PCGS Barber Halves.
20% of my raw Barber Quarters.
None of my misc raw coiny junk.

Now, can I buy back some things I've sold 2008-10?

mkman123 · June 10, 2012 4:03AM

90% as I've done what some have already said....slowly thinning stuff that I don't care for now and getting stuff I really enjoy

Justacommeman · June 10, 2012 4:13AM

85%--------I've done this exercise on a spreadsheet not to long ago.

MJ

JamesMurray · June 10, 2012 4:32AM

<< About 30%. I started out collecting all, now my interest is solely on two series... >>

About the same here , i've way too much wrapped up in Conders and copper and silver.I wish now i'd kept to just gold but i find it difficult to sell what i have.

Unknown · June 10, 2012 4:38AM

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PQueue · June 10, 2012 4:59AM

Without conducting the thorough analysis some have done, i'd estimate ~90%.

michiganboy · June 10, 2012 5:00AM

As of right now about 90%, because I just thinned the collection and have only since added my keepers.

BryceM · June 10, 2012 5:03AM

Core series (MS Peace Set, Circulated Walker Set, 1900s type set) - 100%
Random stuff that appealed to me at the time - 75%

MidLifeCrisis · June 10, 2012 5:08AM

If that were to happen, I think I'd use it as an opportunity to move in a new direction with my collecting...maybe focus on Hassachusetts Silver or early US Large Cents...or build a high grade type set with only key dates.

jayPem · June 10, 2012 5:08AM

<< I am happy with about 90%. But this scenario is a great opportunity to sell some series I care less about today than I did 5 or 10 years ago. I would probably buy back 50% and be pleased with a retail price sale for the other half.
Lance. >>

Exactly the same here, I like shuffling the deck a bit too much sometimes...it'd be tempting to have a chunk of dough to buy something that's out of reach otherwise
( nice FH $, early gold, tough overdate or two...)

SanctionII · June 10, 2012 5:23AM

Question #1 - Probably more than half. I collect a hodge podge of stuff, but have focused on raw 1950-1970 Cameo Proof and SMS coinage since I returned to the hobby as an adult. This is a niche area where most coins are widgets, however there are certain coins in this niche that are exceedingly rare and hard to find, especially raw. They are essentially condition rarities. I look at some of the coins I bought 10 years ago when my knowledge base was much less than it is now, when my "eye" was not very developed and when my intent was to find examples of all 105 coins in the set [without varieties] that had a cameo contrasted look to them. Some of these coins I would never buy today because I have a better understanding of what higher quality examples of the coins should look like. My earlier purchases would not clear "the bar" that I have set for my purchases today. I completed the set some time ago and have since been in upgrade mode. As time goes by it is harder to find upgrade coins since the quality of the set has gotten much better over time and since an upgrade coin has to be one which is substantially better than the coin it replaces. The overall result of the above process is that my eye is much better, my requirements are much higher and as a result I am a much pickier buyer. Many of my earlier purchases just do not measure up today and if presented with a chance to buy the same coin(s) today I would pass. I have experienced some of the same things with other areas that I have collected over the years.

Question #2 - Laziness for the most part, plus for the silver coins I bought years ago, I have held on to them for their bullion value and have seen the value of the coins go up quite a bit due to the increase in silver sport price [i.e. buying a 1962 proof set years ago for $6.00 - $10.00 seems like a good move on my part since the same set sells for about $25.00-$30.00 today].

BigMoose · June 10, 2012 6:02AM

It has to be 95 to 99% for my core collections.

Nic · June 10, 2012 7:16AM

<< It has to be 95 to 99% for my core collections. >>

+1

K

jdimmick · June 10, 2012 9:21AM

My Personal collection, all but 1 coin.

Shop inventory : not a single piece.

oakcoin · June 10, 2012 9:40AM

I wouldnt buy back any. I would use it to refocus my interest into 1 series instead of the many I have now.

magikbilly · June 10, 2012 9:44AM

Gee RYK,

I'm in a coma, I'm dead - what are you thinking about with these hypotheticals?

Eric

Baley · June 10, 2012 9:47AM

Have to admit I'm astounded so many would buy back almost all of their coins.

I'm in the extreme minority, I guess, but I've already had those coins and enjoyed them, if someone gives me full retail for them and I have to do zero work to get rid of them, I would not buy back a single one. I'd go get all different coins and enjoy the shopping and the new experiences of owning different pieces.

EVillageProwler · June 10, 2012 10:00AM

<< Have to admit I'm astounded so many would buy back almost all of their coins.

I'm in the extreme minority, I guess, but I've already had those coins and enjoyed them, if someone gives me full retail for them and I have to do zero work to get rid of them, I would not buy back a single one. I'd go get all different coins and enjoy the shopping and the new experiences of owning different pieces. >>

This is very thought provoking.

I have a friend who wants me to dramatically thin out my US stuff, keeping one or two to represent the type, and then re-allocate the funds to my new area of interest. The problem is that I've (largely) already thinned out my sets of the drecky stuff and the remaining are the good stuff that would hurt my soul to part with them.

I want continued pride of ownership of what I have AND the experiences of owning new pieces. Well, at least as much as the real world would allow me...

EVP

Justacommeman · June 10, 2012 10:03AM

<< 

<< Have to admit I'm astounded so many would buy back almost all of their coins.

I'm in the extreme minority, I guess, but I've already had those coins and enjoyed them, if someone gives me full retail for them and I have to do zero work to get rid of them, I would not buy back a single one. I'd go get all different coins and enjoy the shopping and the new experiences of owning different pieces. >>

This is very thought provoking.

I have a friend who wants me to dramatically thin out my US stuff, keeping one or two to represent the type, and then re-allocate the funds to my new area of interest. The problem is that I've (largely) already thinned out my sets of the drecky stuff and the remaining are the good stuff that would hurt my soul to part with them.

I want continued pride of ownership of what I have AND the experiences of owning new pieces. Well, at least as much as the real world would allow me...

EVP >>

Get a grip on yourself EVP and man up. Wipe the tear from your face. MJ

keyman64 · June 10, 2012 10:17AM

97.5+%

The 2.5% or less group are just fairly inexpensive mistakes(for the most part) I made and have since learned from.

TONEDDOLLARS · June 10, 2012 10:51AM

100percent

crypto79 · June 10, 2012 10:59AM

<< 

<< 

<< Have to admit I'm astounded so many would buy back almost all of their coins.

I'm in the extreme minority, I guess, but I've already had those coins and enjoyed them, if someone gives me full retail for them and I have to do zero work to get rid of them, I would not buy back a single one. I'd go get all different coins and enjoy the shopping and the new experiences of owning different pieces. >>

This is very thought provoking.

I have a friend who wants me to dramatically thin out my US stuff, keeping one or two to represent the type, and then re-allocate the funds to my new area of interest. The problem is that I've (largely) already thinned out my sets of the drecky stuff and the remaining are the good stuff that would hurt my soul to part with them.

I want continued pride of ownership of what I have AND the experiences of owning new pieces. Well, at least as much as the real world would allow me...

EVP >>

Get a grip on yourself EVP and man up. Wipe the tear from your face. MJ >>

Lol .. I'll drink to that.. If you love them all slow down as you would have a hard time getting many of the same ilk back

EVillageProwler · June 10, 2012 11:49AM

<< 

<< 

<< 

<< Have to admit I'm astounded so many would buy back almost all of their coins.

I'm in the extreme minority, I guess, but I've already had those coins and enjoyed them, if someone gives me full retail for them and I have to do zero work to get rid of them, I would not buy back a single one. I'd go get all different coins and enjoy the shopping and the new experiences of owning different pieces. >>

This is very thought provoking.

I have a friend who wants me to dramatically thin out my US stuff, keeping one or two to represent the type, and then re-allocate the funds to my new area of interest. The problem is that I've (largely) already thinned out my sets of the drecky stuff and the remaining are the good stuff that would hurt my soul to part with them.

I want continued pride of ownership of what I have AND the experiences of owning new pieces. Well, at least as much as the real world would allow me...

EVP >>

Get a grip on yourself EVP and man up. Wipe the tear from your face. MJ >>

Lol .. I'll drink to that.. If you love them all slow down as you would have a hard time getting many of the same ilk back >>

Lol!

Actually, I haven't bought a US coin in maybe 7 years. How's that for slowing down? Also, I have two dearly departed that I'd like to reclaim. One is very expensive (and super difficult to find unimpaired) and the buyer won't let me have a shot at it until I find him a suitable replacement. The second is a recent departed where the buyer promised me first shot when the time comes.

Coinosaurus · June 10, 2012 12:11PM

<< I want continued pride of ownership of what I have AND the experiences of owning new pieces. Well, at least as much as the real world would allow me...

EVP

Get a grip on yourself EVP and man up. >>

You need to see EVP's keepers first

lasvegasteddy · June 10, 2012 12:17PM

pre-coma thoughts
1)yeah there's a couple i'd like to buy back
2)no rush on selling um...it's cozy to have a few by myside

post-coma...
i'd hope to be resurrected without this hobby in mind...

WestySteve · June 10, 2012 12:21PM

Probably only 25%. I like what I have, but I only love about 25% of it. The rest of the funds would be used to buy differnt stuff.

yellowkid · June 10, 2012 12:28PM

Probably about half, the other half would be sold to upgrade existing pieces.

Coinosaurus · June 10, 2012 12:32PM

<< pre-coma thoughts
1)yeah there's a couple i'd like to buy back
2)no rush on selling um...it's cozy to have a few by myside

post-coma...
i'd hope to be resurrected without this hobby in mind...

>>

I mentioned this awhile ago but it's worth a repeat. One of the members of our coin club resigned, and wrote in his letter than he had had a mild stroke, and after coming out of it had zero desire to collect coins anymore, but other than that was completely normal.

rainbowroosie · June 10, 2012 1:13PM

100%, I've sold everything I don't love.

bosco5041 · June 10, 2012 1:39PM

<< Probably only 25%. I like what I have, but I only love about 25% of it. The rest of the funds would be used to buy differnt stuff. >>

I'm probably along this line of thinking.

camlov2 · June 10, 2012 1:40PM

If I could start over I probably would have focused on my type collection and currency more and the complete coin runs less. I would only repurchase about 40% of my coins. However that 40% would probably equal about 80% of the money I have spent on coins.

Shamika · June 10, 2012 1:44PM

#1. I'd buy back about 90%

#2. Few people could hope to get full retail so the question isn't realistic. Otherwise...

droopyd · June 10, 2012 7:24PM

<< The question is, "What percent of your coins would you choose to buy back?"

The follow-up question then becomes, "Why do you still own the coins you have chosen not to buy back?" >>

A) Hypothetically, about half probably.

You haven't yet introduced me to this hypothetical dealer who will pay full retail value for widgety dreck.

Lakesammman · June 11, 2012 2:32AM

80%.

I own the coins I wouldn't buy back because I'm buried.

Elcontador · June 11, 2012 2:38AM

I just sold five coins that imo I should not have bought in the first place. Word to the wise, if you do it right, it is far more difficult to sell a coin than buy one.

I'd buy 90% plus of the remaining coins in my collection. Re #2 - considering market gyrations, I think they'd now cost what I paid for them in the first place. The price increases in early type have been offset by price drops in MS 66 Liberty Nickels.

Hypothetical: What percent of your coins would you buy again?

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