If the market for all of your coins doubles...
MrEureka
Posts: 24,364 ✭✭✭✭✭
Not because of inflation, but because of increased demand. How much of your collection would you sell? For me, the answer is probably about 25%. And it matters, at least in my mind, because that means that 25% of the coins in my collection are not really worth keeping. Time to clean house.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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I hope you use the BST forum.
everything.
I wait for the triple
At my age it would be tempting to sell it all.
it's crackers to slip a rozzer the dropsy in snide
75% of it
Assuming we're still living?
Everything
Double phooey... Some tokens I own have jumped upwards of 5 times and beyond in the last decade.
The scenario as posed would be a sea change and selling could be the mistake of a lifetime.
For me its not about the money.
WS
I'm still relatively young and I am a true collector. Only recently have I neared completion of my set, so I would probably hold on to it.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I've actually been through this scenario at least once and have sold everything, then later moved into something new. Some regrets, selling too early and all, but fun to try new areas of numismatics and my funds aren't unlimited.
No. If I live to be really old I fully expect most of my coins, cards and other collectibles to be practically worthless. (And I'm ok with that). I compare it(somewhat) to all of the money I spent dumping quarters in pinball machines, video games, jukeboxes and other "Fun" things in my youth. If I don't live that long, my wife might be able to sell some of it and take a nice trip somewhere.
Just because your answer is 25% does not mean “It’s time to clean house.” It might me that you would use the money to buy something different if you could get that amount of money for you current holdings. I like what I have, but that does not mean I would be totally against selling some items for the right offer.
The follow up question is: how much of an increase would it take to force you to sell the next 25% and so on.
I wouldn't sell anything. I just wouldn't buy anything.
FWIW, I can think of many millions of dollars worth of coins that, if I could only find and buy them at a fair prices, I would not sell at double or triple my cost. In that context, many of the coins in my collection were not great choices.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
+1
All of it and would probably go short. LOL
I would certainly lighten up, a lot.
Collecting hobbies can leave a tremendous burden to the unknowledgeable heirs.
I have some non-collecting vices to indulge too.
How do you short a coin?
It’s always about the money. Every thing is for sale. They’re just things after all and some things are more enjoyable/useful than others. Heck, I would even move to New Jersey for the right price, but it would be high........ very high.
Under your scenario I’d sell about half - the stuff that was just stuff and not truly important to my long-term collecting goals. I’d do it now, but I don’t need to sell at a loss, so there it sits. I’m a big believer in buying opportunities. That strategy really only pays off if you’re willing to take advantage of selling opportunities too.
>
Why not educate your heirs?
I absolutely have told my heirs exactly what to do with my coins.
None, I paired down my collection about 8 months ago and don’t have any extra coins not aligned with my collection goals. I want more coins of course (aligned with my goals) and such a price jump would apply to desired coins as well.
@ErrorsOnCoins Different strokes for different folks. If I don't undertake much of the disposal, my wife & kid will get snookered.
At least I have been able to get my wife to understand how the bullion value of gold and silver coins is calculated. My wife has a heart of gold, but she also likes the stuff for its own sake.
One thing to consider is how much you might have into the coin. If you found a $100 coin in circulation at face value, say a cent, you only have a cent into it. Double in value/price you could sell it for you have $200 for that cent. Hard not to sell at that price. But for that same $100 cent say you paid $80 for it and it's value rises to $200. Your profit would only be $120. In either case one has to determine any sentimental value attached to the coin. Or what it means to you as a collector/hobbyist. That in itself may supersede any desire to sell.
Another consideration would be rarity. With some of the current Mega-Collectors needing certain coins for their sets, it may make sense to retain for your collection. Value may not continue to increase, but knowing you have a coin that is not in their collections is intriguing.
End Systemic Elitism - It Takes All of Us
ANA LM, LSCC, EAC, FUN
A lot of us peasants would break even....
Silver would generate 416.8M more value vs Gold 88.4M if it was gold then we would see bigger issues to deal with like cost of Capital needed to fund inventory. Silver price would likely mean Mines in US open jobs created, possibly repair debt.
Best place to buy !
Bronze Associate member
I actually did my main lightening when I figured out what CAC is doing to the market.
Lotta unbeaned veggies went to market.
Probably miss out because I’d wait to see if it triples+ and when I do decide to part companies the bottom drops.
I have as well. but still a ton of work if done right and a lot left on the table if done wrong.
100% sold
almost everything. some of my coins have their hooks in me like heroin for a junkie.
Same here with what I have kept.
I try to keep on top of what I have but it is a losing battle. as MrEureka said, there are mistakes and uninteresting coins which are easy to let go, some I would donate/give away. if I viewed only the important coin/exonumia that I have it is still easy enough to let them go. the number one rule of possession should be no emotional connection to anything.
this brings me to where I am today, closer to the end than the beginning. age is peculiar because it has a way of rendering the unimportant things obvious, and my collection is just that, not really important. I know it needs to belong to someone else eventually and that allows me to get closer to selling.
if I knew I could get 2x my estimated value it would be a done deal and one less thing I'd need to worry about as I embrace destiny. all that known, it is strange that I am still an active buyer!!
I would probably sell 95%. There are a few I am not ready to part with!
I appreciate your question but there are certain coins that could double and still be undervalued based either on rarity or condition rarity. I would sell only those coins that based on my experience could be easily replaced.
Experience the World through Numismatics...it's more than you can imagine.
@coinkat " I would sell only those coins that based on my experience could be easily replaced."
This has played an increasing role in the decision of what to sell as the years have passed.
And let's be clear about rarity and condition rarity... It does not always follow plastic and stickers.
Experience the World through Numismatics...it's more than you can imagine.
I have no intention of selling.... Though it could happen should a personal disaster strike.... If such a scenario occurred, it would all go for whatever I could get for them....Other than that....they will be here after I leave...
Cheers, RickO
How did you go about pairing down your collection? Sell on eBay? Sell to a dealer? Just wondering - I might end up doing that, myself. I have a lot of stuff that I collected, that really doesn't align with my collecting goals, now that I'm older.
Rocking my "shiny-object-syndrome"!!!
I'd have to sell, and invest the money in my retirement. I already have arguably too much of my net worth tied up in coins. If it doubles, I definitely will.
I might keep two or 3 sets, and then start building in a new series.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
The underlying premise to my question is that many of us value certain coins more highly than the market does. Sometimes because we have superior knowledge. Sometimes because the coins have special importance to us in our collecting goals. Sometimes because they have sentimental value. Sometimes because we simply don’t need or care about the money. And so on.
As for my “house cleaning “, the goal is not to raise cash . The goal is to fund the purchase of coins that I value more highly than the things I’m selling.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
If all coins always appreciated to the same extent, I would pretty much agree with you. But what if your coins doubled and other coins that you like did not change? Not a likely scenario if you have an extraordinarily diverse collection, but very possible for a specialist.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I'd sell half to 60% to recoup my original investment. I'd focus on selling the coins I have grown tired of over the years and keep the pieces I really like.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Id move a few that I cant now, because price is off to far.
I've only been coin collecting (again) for about 2 years now and this time around I would not sell any of my coins, barring a major financial catastrophe. I sold last time (20-25 years ago) to fund stuff that the family could do together. My only regret was selling the MCMVII High Relief $20 gold graded MS61 in a first generation holder.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
All of it. My collection consists of coins I like and I'm sure if I sold everything I own, doubling what I had put into it, I would still be able to find other coins I liked.
I sold a couple to dealers, actually as a trade transaction for coins I wanted, the remainder I sold on Craigslist.