Why Collectors Sell - The Five "D"s

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2ndCharter
2ndCharter Posts: 1,743 ✭✭✭✭✭
in U.S. Coin Forum

With the news of the Simpson Collection sales and other auctions going on, it brought to mind something one of the higher-ups at a certain auction company in Dallas told me years ago. He said the reason collectors sell can be summed up with the Five "D"s":

Death
Divorce
Disease
Debt
Disinterest

Now, I did add a sixth one when I heard a collector was selling because he was going to jail - Detention - but I think the original Five "D"s sum things up pretty well.

Member ANA, SPMC, SCNA, FUN, CONECA

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  • dpoole
    dpoole Posts: 5,940 ✭✭✭✭✭
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    Discretion


    Here's a warning parable for coin collectors...



  • Zoins
    Zoins Posts: 34,489 ✭✭✭✭✭
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    @2ndCharter said:
    With the news of the Simpson Collection sales and other auctions going on, it brought to mind something one of the higher-ups at a certain auction company in Dallas told me years ago. He said the reason collectors sell can be summed up with the Five "D"s":

    Death
    Divorce
    Disease
    Debt
    Disinterest

    Now, I did add a sixth one when I heard a collector was selling because he was going to jail - Detention - but I think the original Five "D"s sum things up pretty well.

    If someone is Dead, isn't it their heirs that sell?

    Private Mint News | 2010 Lincoln Reverse Finalists
  • Boosibri
    Boosibri Posts: 12,714 ✭✭✭✭✭
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    Direction, or rather a change in direction.

    Latin American Collection

  • ctf_error_coins
    ctf_error_coins Posts: 15,433 ✭✭✭✭✭
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    Dealing

  • 3stars
    3stars Posts: 2,302 ✭✭✭✭✭
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    Doubling, as in what you can sell for is double what you paid for it.

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • oldabeintx
    oldabeintx Posts: 3,214 ✭✭✭✭✭
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    Dilettante

  • Jimnight
    Jimnight Posts: 10,846 ✭✭✭✭✭
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    Devil.

  • ReadyFireAim
    ReadyFireAim Posts: 1,860 ✭✭✭✭✭
    edited August 1, 2020 10:35AM
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    Most sound like a personal disaster :#

    My Saint Set

  • johnny9434
    johnny9434 Posts: 34,048 ✭✭✭✭✭
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    Deranged is good🤪

  • Kove
    Kove Posts: 2,056 ✭✭✭✭
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    Duplicate

  • pursuitofliberty
    pursuitofliberty Posts: 7,926 ✭✭✭✭✭
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    When we were young ... if we collected and had things to sell ... it could have been ...

    Debutante


    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
  • bidask
    bidask Posts: 14,057 ✭✭✭✭✭
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    @Boosibri said:
    Direction, or rather a change in direction.

    most likely

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • keets
    keets Posts: 25,351 ✭✭✭✭✭
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    Death
    Divorce
    Disease
    Debt
    Disinterest

    of the original five it is:
    Death --- as mentioned above, this is something someone else worries about.
    Divorce --- this is easy, just don't get married!! :p
    Disease --- not much we can do about this
    Debt --- controllable. besides, it's only a Hobby, right??
    Disinterest --- this is really unavoidable but then most of us sell stuff to finance purchases, so does it even figure in??

  • 291fifth
    291fifth Posts: 25,218 ✭✭✭✭✭
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    @Zoins said:

    @2ndCharter said:
    With the news of the Simpson Collection sales and other auctions going on, it brought to mind something one of the higher-ups at a certain auction company in Dallas told me years ago. He said the reason collectors sell can be summed up with the Five "D"s":

    Death
    Divorce
    Disease
    Debt
    Disinterest

    Now, I did add a sixth one when I heard a collector was selling because he was going to jail - Detention - but I think the original Five "D"s sum things up pretty well.

    If someone is Dead, isn't it their heirs that sell?

    Usually as fast as they can. They want the cash!

    All glory is fleeting.
  • DCW
    DCW Posts: 7,874 ✭✭✭✭✭
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    Desperation?

    Dead Cat Waltz Exonumia
    "Coin collecting for outcasts..."

  • DennisH
    DennisH Posts: 14,041 ✭✭✭✭✭
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    Done

    When in doubt, don't.
  • TurtleCat
    TurtleCat Posts: 4,692 ✭✭✭✭✭
    edited August 1, 2020 11:21AM
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    Another D - Defense

    People have sold their collection in order to pay for lawyers to defend themselves. One infamous example involved the ACG suit back 15 or so years ago. People had to sell to defend themselves against a frivolous lawsuit.

  • goldrealmoney79
    goldrealmoney79 Posts: 417 ✭✭✭
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    Wow that is pretty accurate 5 D's. never thought it of it like that.

  • badger
    badger Posts: 1,217 ✭✭✭
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    Deterioration

    had a couple of silver proofs get milk spots so sold the whole collection in 2008

    Collector of Modern Silver Proofs 1950-1964 -- PCGS Registry as Elite Cameo

    Link to 1950 - 1964 Proof Registry Set
    1938 - 1964 Proof Jeffersons w/ Varieties
  • PerryHall
    PerryHall Posts: 47,748 ✭✭✭✭✭
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    Disgust---Their prized coin comes back from their favorite grading service in a details slab totally unexpected.

    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

  • Zoins
    Zoins Posts: 34,489 ✭✭✭✭✭
    edited August 1, 2020 2:40PM
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    @291fifth said:

    @Zoins said:

    @2ndCharter said:
    With the news of the Simpson Collection sales and other auctions going on, it brought to mind something one of the higher-ups at a certain auction company in Dallas told me years ago. He said the reason collectors sell can be summed up with the Five "D"s":

    Death
    Divorce
    Disease
    Debt
    Disinterest

    Now, I did add a sixth one when I heard a collector was selling because he was going to jail - Detention - but I think the original Five "D"s sum things up pretty well.

    If someone is Dead, isn't it their heirs that sell?

    Usually as fast as they can. They want the cash!

    That leads to another one:

    Descendent - received the coin as part of an inheritance.

    Private Mint News | 2010 Lincoln Reverse Finalists
  • roadrunner
    roadrunner Posts: 28,374 ✭✭✭✭✭
    edited August 1, 2020 2:42PM
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    Duped - or - Deceived

    Someone else (often an "expert" or dealer) tells you that your coin(s) are no good. Low end dreck. I've even had dealers tell me that when I had finest known specimens.....lol.

    Looking for a "D" word for CAC. Lots of people have sold coins off....because they didn't CAC. How about "Didn't CAC?"

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Zoins
    Zoins Posts: 34,489 ✭✭✭✭✭
    edited August 2, 2020 5:16PM
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    @roadrunner said:
    Duped - or - Deceived

    Someone else (often an "expert" or dealer) tells you that your coin(s) are no good. Low end dreck. I've even had dealers tell me that when I had finest known specimens.....lol.

    Looking for a "D" word for CAC. Lots of people have sold coins off....because they didn't CAC. How about "Didn't CAC?"

    For Non-CAC, you did use a word earlier in your post that hasn't been mentioned before:

    Dreck ;)

    Private Mint News | 2010 Lincoln Reverse Finalists
  • Yorkshireman
    Yorkshireman Posts: 4,616 ✭✭✭✭✭
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    @Boosibri said:
    Direction, or rather a change in direction.

    This would come under “Disinterest” (In the old direction).

    Yorkshireman,Obsessed collector of round, metallic pieces of history.Hunting for Latin American colonial portraits plus cool US & British coins.
  • Unknown
    Unknown
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  • sellitstore
    sellitstore Posts: 3,086 ✭✭✭✭✭
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    I heard that same bit of wisdom at Heritage about 40 years ago but I think that it was only about three "D"s back then.

    Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.
  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    How about Done?

    Met my lifelong numismatic goals.

    (Someday)

    Liberty: Parent of Science & Industry

  • Eagleguy
    Eagleguy Posts: 2,264 ✭✭✭✭✭
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    Disemployed, which is related to debt

    JH

    Proof Buffalo Registry Set
    Capped Bust Quarters Registry Set
    Proof Walking Liberty Halves Registry Set
  • oreville
    oreville Posts: 12,399 ✭✭✭✭✭
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    DISTRACTED which is not a cause for selling but no longer buying!!

    A Collectors Universe poster since 1997!
  • Zoins
    Zoins Posts: 34,489 ✭✭✭✭✭
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    Dumbfounded - Why did I buy that???

    Private Mint News | 2010 Lincoln Reverse Finalists
  • BLUEJAYWAY
    BLUEJAYWAY Posts: 11,794 ✭✭✭✭✭
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    Destitution.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • Zwiggy
    Zwiggy Posts: 48 ✭✭✭
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    Displaced - I have to move... with all those 10000 coins???

  • jkrk
    jkrk Posts: 1,028 ✭✭✭✭✭
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    Doubt about my Double Eagles.

    Deleverage and buy Doughnuts?

  • numismapiddler
    numismapiddler Posts: 79 ✭✭
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    Diversify - Have too much $$ tied up.

    Although, a die hard collector can never have too much.

  • Boosibri
    Boosibri Posts: 12,714 ✭✭✭✭✭
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    @Yorkshireman said:

    @Boosibri said:
    Direction, or rather a change in direction.

    This would come under “Disinterest” (In the old direction).

    Can’t fund everything so have to pick a direction. I’m not disinterested in rare date gold but I can’t afford to buy the coins I want in the quality I want while collecting Latin American.

    Latin American Collection

  • jonruns
    jonruns Posts: 1,202 ✭✭✭✭✭
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    Dearth of cash

    My biggest problem too!!!

    @Boosibri said:

    Can’t fund everything so have to pick a direction. I’m not disinterested in rare date gold but I can’t afford to buy the coins I want in the quality I want while collecting Latin American.

  • Unknown
    Unknown
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  • PreTurb
    PreTurb Posts: 1,199 ✭✭✭
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    I have a whole new appreciation for the letter D.

  • Catbert
    Catbert Posts: 8,258 ✭✭✭✭✭
    edited August 2, 2020 3:41PM
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    @roadrunner said:
    Looking for a "D" word for CAC. Lots of people have sold coins off....because they didn't CAC. How about "Didn't CAC?"

    Let me help you! "Dejected!"

    edited to add: or "Despondent, dispirited, depressed" :D

    Seated Half Society member #38

    "She comes out of the sun in a silk dress,
    running like a water color in the rain...."
  • topstuf
    topstuf Posts: 14,803 ✭✭✭✭✭
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    @Catbert said:

    @roadrunner said:
    Looking for a "D" word for CAC. Lots of people have sold coins off....because they didn't CAC. How about "Didn't CAC?"

    Let me help you! "Dejected!"

    edited to add: or "Despondent, dispirited, depressed" :D

    Yep. Depressed. They never stop to think that coins are purty good things to have.

    Soon as this national financial mismanagement ends (or even if it doesn't) people forget that coins are small and liquid.

    Whatever pulls out of the morass, there are still gonna be people with disposable income and still having interest in historical objects and even if it's antiquities of some sort, coins are still going to be the small portable items they have always been.
    What can one collect that has stayed feasible over centuries? Coins that are visually interesting or scarce are just another form of art.

    Okay, they cycle up and down. What doesn't?

    Post other collectibles that you think might be better. Collecting stuff is a human trait and I don't see that evaporating to zip.
    To be honest, I think ....dreck.....is done for. Good sign in my mind.

    The folks who think NICE coins are dead are gonna get a surprise.

    I think. B)

  • keets
    keets Posts: 25,351 ✭✭✭✭✭
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    Disillusioned.

  • ctf_error_coins
    ctf_error_coins Posts: 15,433 ✭✭✭✭✭
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    Dinero

  • IkesT
    IkesT Posts: 4,594 ✭✭✭✭✭
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    Dowager
    Dotage
    Decline/decay
    Divest

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