Options
What's wrong with us??
Ebeneezer
Posts: 332 ✭✭✭
Looking at reality from my own perspective, I pay far more than a coins face value or metal value. People who don't collect often ask why anyone would pay hundreds, or thousands, of dollars for something only "worth" face value. This was the question I had to respond to yesterday. Smart ass answer aside, to me they are irreplaceable works of art. Like paintings or sculpture. Once the year ends they will not be reproduced, authentic anyhow.
So I ask, why do you pay well above face value?
0
Comments
Intrinsic value often, if not always, exceeds face value.
Why else would anyone collect coins?
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
That is the ultimate question for any hobbyist!
My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
https://n1m.com/bobbysmith1
On more than one occasion I've heard people make a comment like "Why would anyone pay that much for something that's only worth a dollar? "
It kind of falls into the - If you have to ask then you wouldn't understand
I think that a majority of people that ask that question are not into collecting things as a hobby.
We collect coins for qualities other than the face, or melt, value (though the latter can sometimes be a factor). If everyone appreciated these other qualities like we do, there'd be a lot more competition for collector coins!
Little kids collect pretty rocks. Little kids get older and collect stuff the other older kids collect. I'm not sure that there's any other explanation.
Nothing I can think of except for the last two weeks my chest hurts when I cough and I have some bruises. LOL.
I liken it to antiques. We buy them to enjoy marveling at them not to use them. We enjoy sharing them with other like mined folks. We can wonder who owned and used them. When we are done with them we can sell them and buy others using the knowledge from owning the others to improve our selection.
"A dog breaks your heart only one time and that is when they pass on". Unknown
What makes you ask that, or are you fishing for a weakness.
To deep huh?
Learning this collecting, and Yes trolling ( thats some people,s way of saying
who invited you ) .
You guys are in my eyes art collectors, with a twist. you can hold it in your hand.
Another aspect is there more than meets the eye in your hand.
Some know this, but I think others are not stopping to smell the roses.
Its a destination I've achived and its now on to the next.
Always remembering and sharing knowledge along the way of the stuff you ran into on the path.
Thats exploring with friends or a teammate who picks up the ball when it falls out of your glove.
Next we'll talk about feelings.Lol
Just lighten up ....and get one for the Gipper. Thats you.
Just venting. David
It’s all about condition, scarcity, beauty and history. Many of these coins are national treasures that just shouldn’t exist....But somehow, like a freak of nature, they do.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Often those people that ask why we pay more than face value for coins, collect other things, that they pay for with amounts of money we would find questionable. This applies to most hobbies....For high value items, the expenditure is usually considered an investment with the belief that the ROI would be there when sold. People pay exorbitant fees for collectibles in many fields - from art to automobiles....Cheers, RickO
There is no face value on the Mona Lisa or the Statue of David, and the intrinsic value is not great, but these are priceless works of art. So too with many coins.
Certainly few coins are "priceless", but they represent an entire spectrum of values from face to monstrous, but we collect them for many reasons.
Protect and secure history, OCD, store of value/investment, simple enjoyment.
I'm sure there are many other reasons.
I was just sharing a newp with a coworker and it blew his mind I spent 300 dollars on it. Just couldn’t relate. I said there are 4-5-6 figure coins and I sometimes can’t relate to that although I can understand the situation and keep my eye in the ball even if I don’t have a toe in that end of the pool. That some folks enjoy 10-20 dollar coins just fine and glad I still get a kick out of 3 figure pieces. It’s all just relative to what you know and study and if you have interest it not. Same approach to about anything your buying.
they dont understand the hobby, like us who do love this hobby of collecting coins.
I was looking at the bids of a 4 figure auction I won the other day. My high bid, the second bid was another dealer, and the third highest bid (I assume a collector) was half of what the other dealer and I bid it up to
I thought to myself, oh, that's not good
Supply
Demand
.
"Though this be madness, yet there is method in it."
I'm an art collector and enjoy history.
I paid $56 recently for 5 Buffalo nickels for my circulated set (no damaged or cleaned, full date, at least 1/2 horn showing) which I hope to complete (sans the '37 D 3 legger and '18/'17 D) someday.
If I were to win the lottery I would seek out an 1894-S dime for my collection.1894-S dime is one of the most storied coins in numismatics and I would have a great coin with a great history in my hands.
Oh, almost forgot. Win the lottery and I would buy a 3 legger and a 18/17 for my nickel collection....and a 16/16 DD even though my album has no hole for it.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
I believe most people spend or overspend (depending on your likes) on items that they buy, not just collectors. I guess it is like trying to understand why some people would spend thousands of dollars for a wallet or purse to hold money. I'd rather spend $10 on a wallet and have thousands to put in it.
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)
the best thing you can do is sell an expensive rare coin. You look at it when you own it and think what if all its worth is its melt value! Then when you sell it you realize there are many many people who value the coin like you do and you get your money back (plus or minus a bit but far far more than melt). Go through that a couple times and you wont worry that your the only insane person to pay 100x or 1000x melt.