What to do with your 2nd best coin?
Electricity
Posts: 318 ✭✭✭✭
I have read some of the posts on here about what collectors do when they upgrade a coin in their collection. It seems like many either start a 2nd set or sell the coin. Most of these tend to be higher value coins that are in demand and liquid.
Well, I collect Raw Jefferson nickels in MS condition with Some steps for my Dansco, upgrading when possible. Not super Valuable, But a nice Set with many different looks across different decades.
The other day I came across a stunner 1980d FS, it was an improvement for my album.. so in it went. When I took the old one out, I didn’t know what to do with it? Coin is beautiful, Rims cut my fingers bringing it out!
What do you guys do with not so valuable high grade coins like this?
2
Comments
I like to keep backups of stuff like that so if one of the coins bite it, I've got an incredibly similar example to fall back on.
If a coin is really nice; I'll try to keep it, if I can, especially if it's of lower value, which makes the decision more affordable. Start a second set or just keep it and enjoy 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 would sell it for another best kind
Welcome to CU
The options are clear, keep it, start another set, sell it..... Your coin, your choice. If it were me, I would keep it. Never know when you might have a use for it. Cheers, RickO
I have no problem owning duplicates if they are nice coins and I like them.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I agree with PerryHall. I'm a collector, not a dealer. When I upgrade, the lower coin just goes in the box too.
Sometimes I keep both, sometimes I sell it, or trade it towards the better one
My YouTube Channel
Sell, sell, sell
Use cash to buy a different number one coin
What I might end up doing is starting a 2nd album and giving it to my nephew, he’s 4. I wouldn’t do this as an investment or anything, I think it would be more of a growing opportunity for the both of us
Look for my 3rd.
Why have one when you can have two for twice the price?
For something like that either keep it with your other odds and ends or release it into the wild. Probably not worth selling unless it is very high grade.
My wants and buying opportunities usually exceed my budget.... so for me selling = new funds that allow me to keep having fun.
Of course, you've got to be prudent and not just churn through cash for the thrill of the hunt. There's a lot of that in the hobby. Dealers love it.
Put it in a 1.5 x 1.5 flip. Keep upgrading. Keep putting the old #1 coins in flips. Keep admiring your collection as it grows.
By the time you photograph, list, sell, ship, pay eBay and PayPal fees, it’s hard to net much for selling [even gorgeous] Jeffs.
Collector’s view/bias.
If we were all the same, the world would be an incredibly boring place.
Tommy
I avoid this issue as much as possible by buying what I want the first time around and avoiding the upgrade game. Sure on occasion I find a coin that is just so much nicer that I will go ahead and upgrade (even at the same label grade), but that is very rare for me. Buy now and upgrade later is a great pitch for dealers but a total money pit (most of the time) for a collector. To your question on the handful of times I've done it I sold a few of the old coins but kept most of them.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Trade to another Jefferson collector who needs it and has something you still need.
Bingo! Gonna explore this option a bit more.
If it's raw......put it in the second best album. And down the line.