Debating whether to downsize my collection?

NumisOxide · May 29, 2013 10:16AM

Referring to my core collection. I feel I have wandered off on my main collecting interests of seated type coins mainly seated quarters and halves, but I have many other seated & bust denominations which I really enjoy to have. The part of the collection I think I'm losing interest in, is the various exonumia that I bought but there are some pieces I don't think I want to part with. Definitely keeping the feuchtwanger cent collection and hard times tokens.

How many times have you as a collector sold off a good portion of your collection that you lost interest in? Any regrets?

coinbuf · May 29, 2013 10:20AM

No help as I never have sold off/traded more than a couple of coins; best of luck with your decision.

yellowkid · May 29, 2013 10:21AM

Many times over the years, not just coins. No regrets, it just "stuff," the fact that you're even thinking about it means it's time to move on.

MidLifeCrisis · May 29, 2013 10:32AM

<< Many times over the years, not just coins. No regrets, it just "stuff," the fact that you're even thinking about it means it's time to move on. >>

Less is more. Quality is more important than quantity. Focus, grasshopper.

DeliaBug · May 29, 2013 10:32AM

<< How many times have you as a collector sold off a good portion of your collection that you lost interest in? Any regrets? >>

I didn't lose interest but sold off a big portion to buy a house. I retained the ones which were the hardest to obtain, but not necessarily the most valuable. As far as regrets - yep, when I see what they trading for now!

Coinosaurus · May 29, 2013 10:32AM

The seated quarters all need to go, you don't need any of those

jmb · May 29, 2013 10:48AM

<< Less is more. Quality is more important than quantity. Focus, grasshopper. >>

Patches · May 29, 2013 10:52AM

<< The seated quarters all need to go, you don't need any of those

>>

NumisOxide · May 29, 2013 11:04AM

<< 

<< Less is more. Quality is more important than quantity. Focus, grasshopper. >>

>>

I agree even though there are a good amount of quality pieces. Its just got too diverse. Must focus!

291fifth · May 29, 2013 11:24AM

When the interest is gone the coins should be gone as well. Sell and don't look back.

LochNESS · May 29, 2013 12:01PM

<< When the interest is gone the coins should be gone as well. Sell and don't look back. >>

Yes. And to answer the OP, I am always selling off bits to make room for NEWPS

You can think of it as sculpting with clay. Sometimes you have to take away, while other times you need to add. The end result is often not as important as the process. Life is a journey, and all that Jazz.

LindeDad · May 29, 2013 12:28PM

Been going to the less better since 2009.

Update that three of the coins I sold over the long weekend just became one coin ordered from a board member this morning.

BTW in 2009 I owned about 1300 PCGS graded coins today it is under 400.

DNADave · May 29, 2013 12:31PM

I've done it twice.

1st time went to Disneyland and paid off my wife's Explorer.
2nd time paid 40,000 on the home loan.

Debt free is where it's at.

RonB · May 29, 2013 12:31PM

<< When the interest is gone the coins should be gone as well. Sell and don't look back. >>

Agreed. Use the revenue to pursue your calling..

-Ron

sniocsu · May 29, 2013 12:51PM

Exonumia can be fun and interesting. But if its not something you like anymore or something useful, sure - selling is a good idea. If theres something that you have doubts about/ really like ( or even partially like) keep it (especially if its hard to get/find).
As far as have I sold things I wish I haven't because they weren't my main focus; absolutely. But as has been stated previously, I used the funds to get something for my core collection.

Broadstruck · May 29, 2013 1:13PM

<< Definitely keeping the feuchtwanger cent collection and hard times tokens. >>

Well so much for needing to open this thread!

Walkerfan · May 29, 2013 1:23PM

The only time that I sell is to upgrade. In the past I sold a lot of raw stuff to help fund my WLH set----that raw stuff is all gone now. I no longer buy raw or anything except for WLH certified material.

vibr0nic · May 29, 2013 1:31PM

Do it.

You won't miss them and someone else will get to enjoy them.

kwmorgan · May 29, 2013 1:58PM

You will know when it's time. Sometimes I have thought on my $20 gold...should I sell? Then I take a look through them and nope it's not time yet.

BryceM · May 29, 2013 2:42PM

Only you are in a position to evaluate your wants & desires. The answer probably lies in the reason you collect in the first place. That said, it probably wouldn't be all that hard to replace most of those items in the future and, if you decide you need to, the second time around you'll have that much more experience to draw from.

lkeigwin · May 29, 2013 2:57PM

<< Only you are in a position to evaluate your wants & desires. The answer probably lies in the reason you collect in the first place. That said, it probably wouldn't be all that hard to replace most of those items in the future and, if you decide you need to, the second time around you'll have that much more experience to draw from. >>

Bryce is a smart guy with good advice.
Lance.

LochNESS · May 29, 2013 4:14PM

<< I've done it twice.

1st time went to Disneyland and paid off my wife's Explorer.
2nd time paid 40,000 on the home loan.

Debt free is where it's at. >>

My dad downsized his fractional currencies so he and my mom could visit Mexico for their 30th anniversary. No shame in cashing in some chips especially if you're still sitting at the table

terribleredmonster · May 29, 2013 6:16PM

When I first started collecting I jumped in head first by buying anything that caught my eye (which I could afford, of course). A few years later I had learned enough to recognize how terrible my shotgun approach made my collection look and that it wasn't a collection at all, but a hoard. I picked my favorite few pieces from the lot and sold everything else - only managing to break even because the coin market was going insane at the time. With my favorites in hand, I redesigned my collecting style and goals.

Fast forward a couple of years to when I realized that I still hadn't streamlined enough for practicality's sake. I had managed to acquire a few pieces of respectable import by my standards, but due to being invested in too many areas I wasn't making any significant progress on any particular set. What was worse, I found that a collection with too many directions could be just as bad as a collection with no direction at all. Once again I had too much incongruous and barely related stuff.

At that point I took a step back to reevaluate the purpose of my collection, in point of fact, my collecting. As luck would have it (good, bad, or otherwise), I experienced some rather prescient life changes shortly thereafter and found my interest in coins almost completely depleted. Once again I engaged in a mass sell-off, only this time the only coins I kept were either of sentimental value or gifts. I put them in a box and hid them away. Out of sight, out of mind you know.

Fast forward several more years to the present day. Over recent months coins have worked their way back into my consciousness and the desire to collect them has grown within me anew. Drawing on the lessons I learned in years past I realized that this time I needed to take this very slowly and decide exactly what I would do before I bought even the least of coins. In the last few weeks I finally arrived at a decision to pursue two individual collections, one Light Side and one Dark Side. The former will be the best complete run of Peace Dollars I can muster (I expect that this will be a work in progress for years to come, always evolving as I am able to locate and acquire better pieces for it) and the latter is an OFEC collection with every coin bearing my birth year. The OFEC set is only being pursued because it is something that I used to collect and several relevant coins were given to me as gifts - and as such I never let them go.

My point in all of this, other than just laying out my collecting history to anyone that might read it (

), is to note that while there are many very popular pursuits and styles, coin collecting is an individual and even personal engagement. Not only is it appropriate to pare down your collection or completely change focus from time to time, it is totally natural (and for some of us inevitable) to do so. Even the most stable of people experience changes of personality and perspective over time. These changes are part of being human and living a life - some would even say they are the point of it. Since our hobby is such an individual one with such a vast array of options regarding both material and execution, it is sensible to expect that when our circumstances, our priorities, or our personalities change, our approach to and appreciation of collecting will as well.

AngryTurtle · May 30, 2013 2:10AM

TerribleMonster, I like the approach! ( And CoinJP, if you if you ever want to sell the Feuchtwanger collection...

). Numismatics at first glance appears to be a rather limited field, but once you learn some more its clear that anybody other than Warren Buffet or Bill Gates is going to need to narrow the field a bit just from the financial perspective, let alone the very valid quality and coherence of collection issues.

renomedphys · May 30, 2013 2:34AM

If you can imagine a life without it, then it has a price.

If you can't, it doesn't.

Simple, right?

unclebob · May 30, 2013 3:27AM

It's funny... I've been having this debate with myself for a few weeks.

I'm in the early stages of building both an VF to AU set in a Dansco album and have accumulated quite a few for the MS63/64 IHC set.

At the end of the day, it's likely I would appreciate the coins equally.

An MS63/64 heavy set would be something of a yawner to many, and I've never been the set kinda of guy.

Add sticker shock for the key dates and I quickly cherish the few scarce varieties that have been cherrypicked along the way. Add the fact that it is divided amongst PCGS, NGC, and ANACS... well it is something of a menagerie.

Mostly, I consciously shop value and trying to find good coins for the money.

I find this serves me better with circulated coins. Not a very good recipe when a $900 MS65 coin makes you lose sleep after you bring it home.

For me, I think going forward my approach will be to focus on the Everyman set.

Catbert · May 30, 2013 4:50AM

No regrets. Sell what no longer interests you. Concentrate your dollars on those coins that do. Less is more!

guitarwes · May 30, 2013 4:54AM

<< No regrets. Sell what no longer interests you. Concentrate your dollars on those coins that do. Less is more! >>

+1

Flash · May 30, 2013 5:15AM

I'm considering selling most of my coins and putting the money into my currency collection. It's still in the thinking stage at this point, though.

BillJones · May 30, 2013 5:31AM

I have sold off significant part of my collection twice. The first time was when I sold off a lot of the type coins I bought as a young collector and eventually recycled the money to buy better type coins. The second time was when I sold my half cent die variety collection.

The first time I bought back the same sort of material, only better. I have no regrets. The second time my collection "hit a wall" and I could go no further with any new varieties.

All the half cent varieties that I needed were in much strong hands than mine, and there was no chance that those collectors were going to be selling their coins anytime soon. Even if they were to be offered, the coins would be sold at auction for "moon money." That was in 1995. The guys who had those coins started to sell their coins a couple of years ago. Shortly the great half cent collection ever assembled will be up for auction. Now it will be "galaxy money" instead of "moon money" so I have no regrets.

Type2 · May 30, 2013 7:56AM

If it can help you in any way and you don't mined do it. But if you are going to regret it don't.

LochNESS · June 5, 2013 11:34PM

<< 

<< No regrets. Sell what no longer interests you. Concentrate your dollars on those coins that do. Less is more! >>

+1 >>

Less is definitely more. Think about the most famous collections of all time. Did they have endless boxes of average? or did they have a selective (usually high-end) taste? Typically the #1 thing that makes a great collection great is consistency. If you don't have "an eye for editing" as they say in the design world, your wallet will feel the consequences.

Everything can be sold, the hard part is finding your buyer. If someone offers a price perhaps you should jump at the opportunity? Depends how many other offers you received?

BAJJERFAN · June 6, 2013 1:15AM

<< No regrets. Sell what no longer interests you. Concentrate your dollars on those coins that do. Less is more! >>

Yep and you can get a LOT of $100 bills into a blue box, WAAAAYYYY more than 20.

Lakesammman · June 6, 2013 8:12AM

Slowly whittling down the core collection to less than 20.

BUT, the collectible holders collection is out of hand!

Sonorandesertrat · June 6, 2013 8:28AM

In early 2007, I sold a complete set (but no micro-O) of Barber halves, all coins 55-58. They sat in a safety deposit box, and I had not even looked at them for at least 5 years. So I sold them, and used the money to buy other types of coins. No regrets.

SmEagle1795 · June 6, 2013 9:16AM

I've made major changes to my collection over the last two years and have never looked back. If you're considering it, definitely downsize and regroup. I now strongly follow Warren Buffett's advice of: "If you aren't willing to own a (coin) for ten years, don't even think about owning it for ten minutes"

NumisOxide · June 6, 2013 9:18AM

I was looking over my collection the other night to see what I wanted to part with but I couldn't really part with a lot of stuff. The force is not strong with me. lol

johnny9434 · June 7, 2013 5:44AM

i got rid of part of mine 15 years ago. no regrets but do miss some of it.

Shamika · June 7, 2013 1:38PM

With few exceptions I only sell coins when I'm in need of some cash for an upgrade or large purchase. Though I do admit I have quite a lot that I'd sell if a good offer came along.

JJM · June 9, 2013 9:24PM

just once, downsized to under 50 coins, don't regret it at all

LeeBone · June 9, 2013 9:37PM

My thread...

TwoSides2aCoin · June 9, 2013 11:15PM

It never hurts to trade off the least desired for the most desired. But once in a while, you have to re-consider the replacement cost if it's something you know you should keep. (my expeiences are limited in numismatics, but not in life's experiences). As we witness time and time again around here... , some coins cost more to get back and some coins sell for multiples more the next time around.

Debating whether to downsize my collection?

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