Don't let anybody tell you how to collect

MidLifeCrisis · September 19, 2012 2:35PM

Yesterday I posted a thread stating that I would NEVER buy a coin that is not graded by PCGS. I posted it in response to the poor treatment I thought another forum member received for making the same comment.

My thread received over 100 responses, some of which had some pretty negative things to say about my stated choice.

Over the years, I have formed many collections including key dates of popular federal coins, conder tokens, and pillar coinage minted in Mexico which circulated in early America. Eventually, my main focus was on forming a type set of early American coins, each with a traceable provenance. Colonial coins are not popular among members of this forum, but I had a blast with them.

So my advice to a new collector is to never let anybody tell you what or how to collect. Do it your way.

If you want to collect coins only in PCGS holders, go for it.

If you want to collect coins only in "off brand" holders, go for it.

If you want to collect only raw coins and never get any of them slabbed, go for it.

If you want to collect doctored coins, or counterfeit coins, or only coins in a basal state of preservation, go for it.

If you want to collect Lincoln Cents, Morgan Dollars, or St. Gaudens $20 gold pieces, go for it.

If you want to collect foreign gold that circulated in early America, go for it.

Modern, classic, tokens, medals, holed coins, ex jewelry coins, condition rarities, registry top pops, whatever.

It's your collection, your money and your hobby.

(Edited for spelling)

RedTiger · September 19, 2012 2:49PM

While I agree with most of what you posted, what you fail to mention is that it tends to be a good thing to be humble, to listen, to learn. This is especially for new collectors, but also those like myself (and you) that have been collecting for decades. While each person needs to take any advice with a grain of salt, to argue, to ignore, to call those giving advice stupid, is the sign of a new collector that almost certainly will have a poor hobby experience, with a high likelihood of major financial mistakes and losses. That a new collector agrees with an experienced collector on one minor point on choice of plastic is just that, a minor point, in the bigger scheme of the hobby, and the ways to enjoy the hobby, and have a good hobby experience.

All the threads again confirm my view of coin collectors and dealers as people that tend to have poor people skills, that tend to be argumentative, with a good percentage of deeks. Most would do well by taking the hobby and the people in the hobby less seriously. It is supposed to be fun, not a way to raise blood pressure, or prove whose is "bigger." That might mean the coins, the holders, the way of collecting, the ideals, etc. Ego can get in the way of learning and I see that as a more important lesson for a new person than petty feuds about plastic, or ways to collect.

MidLifeCrisis · September 19, 2012 3:04PM

<< While I agree with most of what you posted, what you fail to mention is that it tends to be a good thing to be humble, to listen, to learn. >>

I failed to mention it because I did not want to mention it. But since you did, here are my thoughts...

At first blush, I agree with you. But I don't think being humble, listening and learning really works like we want it to. I think new collectors (and even some experienced collectors)
- don't know who to listen to;
- will assume they know what they're doing when they really don't;
- will tend to go along with the crowd;
- and will, invariably, pick up bad habits and practices.

Besides, in a hobby that's based almost entirely on subjectivity, who's right anyway?

As my aunt would tell me when I was a young boy - if you don't listen, you have to feel.

One of the best ways to learn is by making mistakes. Sure it will hurt. But you probably won't forget.

So collect what and how you want to collect. Learn from your mistakes. Or don't.

braddick · September 19, 2012 3:10PM

To listen, to learn- doesn't require one to be humble.

Some of the most confident, borderline codky collectors/dealers got to the successful level they're at by listening and learning yet without shedding an ounce of who they are.

TahoeDale · September 19, 2012 4:17PM

While we have all done it our way, in the beginning, if one is to spend a lot of time and money
in the hobby, there are lessons that can be taught, as well as experienced on one's own.

I would bet that you, MLC, did buy raw coins, and other TPG holders than PCGS, at one time.

And you are not alone in your desire to buy only PCGS at this time in your collecting years.

But, as Lakes indicated, there are some coins/series that are not graded by PCGS. And there are rare coins that all would love to own, in NGC holders.
I would guess than as much as 1/3 of my collection was at one time in holders other than PCGS. Today, maybe 1/2 of 1 %.

I listened, and learned. Any good advice that a new collector can get from an experienced collector would be helpful, and appreciated, I would think.

Bochiman · September 19, 2012 4:31PM

I didn't comment in the other thread, but I will in this one.

I agree with MLC. One can listen/learn and still collect THEIR OWN WAY.
If you are the one spending the money and doing the collecting, do it the way you want. If that means you don't want to be told what to do, that is fine. If you do want to be told what to do, that is fine as well.

PerryHall · September 19, 2012 5:07PM

<< If you want to collect coins only in PCGS holders, go for it.

If you want to collect coins only in "off brand" holders, go for it. >>

I disagree with your implication that NGC is an off brand as do most serious and knowledgeable collectors.

astrorat · September 19, 2012 6:59PM

Yes, it's a hobby.

It's supposed to be fun.

Have fun the way you want to have fun.

If you want high drama, work in an ER.

MidLifeCrisis · September 19, 2012 9:44PM

<< 

<< If you want to collect coins only in PCGS holders, go for it.

If you want to collect coins only in "off brand" holders, go for it. >>

I disagree with your implication that NGC is an off brand as do most serious and knowledgeable collectors. >>

Actually I was not thinking of NGC when I wrote that.

But now that I am thinking about it, I'm fine with the implication even if you disagree.

crypto79 · September 19, 2012 9:52PM

<< 

<< If you want to collect coins only in PCGS holders, go for it.

If you want to collect coins only in "off brand" holders, go for it. >>

I disagree with your implication that NGC is an off brand as do most serious and knowledgeable collectors. >>

Really the decision point here is if one considers a distant 2 out of a two horse field an off brand? While NGC does have some legitimacy, no one of importance considers them the equal of PCGS so midlife has a point, it is the best or part of the rest. I will concede that the gap between #2 & #3 is much larger than the gap between #1 & #2.

PTVETTER · September 19, 2012 11:14PM

I can't see there being many pcgs lincolns in Fine except the keys and semi keys in PCGS holders.

Some coins just do not warrent a holder (common date lincolns and others under 10.00)

On the other hand some coin NEED tobe in top tier holders.

One BIG example is a 1916-D dime!

pocketpiececommems · September 20, 2012 2:15AM

I guess it would make a difference in what you collected. If I waited to find circ commems graded by PCGS then my collection would not be complete. I have found no holed commemoratives in PCGS holers so I wouldn't have any of those yet either.

Somebody along the line had to do the dirty work and submit the coin to PCGS to get it holdered.

Walkerfan · September 20, 2012 3:43AM

I like PCGS AND NGC BOTH. The only problem is that I collect early Walkers in MS and there simply isn't much out there in NGC plastic. Every once in a while I come across a nice NGC early coin (3 or 4 of my best ones reside in NGC slabs but the higher percentage is in PCGS plastic), b/c usually what I'm looking for is more readily available in PCGS slabs. I think that late date gems and higher are just as available in NGC slabs and are less expensive and of good quality, so they do represent a GOOD value. So for me it's (usually)--Early date=PCGS and late date=NGC

JCMhouston · September 20, 2012 3:49AM

<< no one of importance considers them the equal of PCGS so midlife has a point, >>

Perhaps you meant to say no one of SELF importance? I know some very fine collections that are primarily, and even 100%, in NGC holders.

coinbuf · September 20, 2012 4:17AM

<< While NGC does have some legitimacy, no one of importance considers them the equal of PCGS so midlife has a point >>

I certainly would be interested in seeing the poll you've taken of those of importance to support your statement; or did you just pull that out of some dark orifice?

How about this instead of starting silly threads about which sevice is better and then getting all butt hurt when opposing views are voiced, or posting silly unsubstantiated out of thin air statements we get back to talking and posting about coins; what would be wrong with that?

crypto79 · September 20, 2012 5:06AM

<< 

<< While NGC does have some legitimacy, no one of importance considers them the equal of PCGS so midlife has a point >>

I certainly would be interested in seeing the poll you've taken of those of importance to support your statement; or did you just pull that out of some dark orifice? >>

While my statement was empirical, I never said that there wasn't good coins in NGC holder or that some collectors didn't prefer them over PCGS and that there wasn't viable reasons to send ones coins to NGC. What I said was that most everybody in the know acknowledge that PCGS is the by far 1# gold standard in American coin grading and that NGC isn't really in that specific conversation. As a collector I might be inclined to submit my collection to NGC if I preferred the look of the holders or I was looking to get some AU coins into UNC holders or some of my XF's back into the NGC AU holders I originally bought them in. I know a few dealers that mostly submit to NGC because they like the avg of the results when looked from the perspective of their bottom line.

Find me one true numismatist that considers NGC the superior TPG and I will be impressed and might start a pool depending on what I think of the numismatist that is dug up.

PerryHall · September 20, 2012 5:16AM

<< 

<< no one of importance considers them the equal of PCGS so midlife has a point, >>

Perhaps you meant to say no one of SELF importance? I know some very fine collections that are primarily, and even 100%, in NGC holders. >>

I think he forgot about CAC and John Albanese and others who make a market in CAC coins.

mrpotatoheadd · September 20, 2012 5:28AM

<< What I said was that most everybody in the know acknowledge that PCGS is the by far 1# gold standard in American coin grading... >>

Why is that?

JRocco · September 20, 2012 5:30AM

No worries.

COALPORTER · September 20, 2012 6:51AM

If a dealer you work with allot says, "I will never buy coins like that
from you", wouldn't you listen little ?

originalisbest · September 20, 2012 2:37PM

<< Yesterday I posted a thread stating that I would NEVER buy a coin that is not graded by PCGS. I posted it in response to the poor treatment I thought another forum member received for making the same comment.

My thread received over 100 responses, some of which had some pretty negative things to say about my stated choice.

Over the years, I have formed many collections including key dates of popular federal coins, conder tokens, and pillar coinage minted in Mexico which circulated in early America. Eventually, my main focus was on forming a type set of early American coins, each with a traceable provenance. Colonial coins are not popular among members of this forum, but I had a blast with them.

So my advice to a new collector is to never let anybody tell you what or how to collect. Do it your way.

If you want to collect coins only in PCGS holders, go for it.

If you want to collect coins only in "off brand" holders, go for it.

If you want to collect only raw coins and never get any of them slabbed, go for it.

If you want to collect doctored coins, or counterfeit coins, or only coins in a basal state of preservation, go for it.

If you want to collect Lincoln Cents, Morgan Dollars, or St. Gaudens $20 gold pieces, go for it.

If you want to collect foreign gold that circulated in early America, go for it.

Modern, classic, tokens, medals, holed coins, ex jewelry coins, condition rarities, registry top pops, whatever.

It's your collection, your money and your hobby.

(Edited for spelling) >>

Love it! Bravo to this post.

originalisbest · September 20, 2012 2:40PM

<< 

<< If you want to collect coins only in PCGS holders, go for it.

If you want to collect coins only in "off brand" holders, go for it. >>

I disagree with your implication that NGC is an off brand as do most serious and knowledgeable collectors. >>

You read too much into the statement. NGC is hardly called "off brand" here -- truly "off brand" holders (guy in garage with label maker and do it yourself CW slabs) are what MLC refers to.

originalisbest · September 20, 2012 2:44PM

But that said, heck, maybe we can get to 100 on this thread too!

WaterSport · September 20, 2012 3:25PM

LOL, I think I have done ALL of those!

Ws

Don't let anybody tell you how to collect

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