Changing directions
SimpleCollector
Posts: 536 ✭✭✭✭✭
I am curious to longtime collectors views on changing directions in their collecting, the reasons for it, and observations on successes or regrets. I know that everyone’s view and situAtion is different, but it sometimes helps to hear people’s lessons learned.
For about 5 years, I worked on a slabbed type set, reached the hard(really costly) part of needing on draped bust dollars and real early copper which became too costly(both in having that much money in one coin and the time between purchases). I asked for insight about selling, and the advice here was very good. Selling was a learning experience, and it allowed me to pursue a gold type set( near bullion type generics).
I have now spent 3+ years collecting patriotic cwt’s. At first I was able to routinely find nice tokens in the$50-100 price range, with an occasional stretch. As I now have about 40 where I like the token and the look, I have noticed that prices seem to be rising, and as with the type set, the ones I like and need are getting more and more expensive. I am now considering selling the CWT’s to put some funds into an additional gold piece such as a CC mint, but also thinking of starting a So-called Dollar or fractional,gold/souvenir gold journey.
Part of me says stay with the cwt’s as I have a few years worth of knowledge, some nice tokens, and don’t make many purchasing mistakes and can even spot the bargains. However the other part of me misses learning and researching new areas; but struggles with the thought that am I just changing because the journey is harder.
I would love to hear perspectives. I am LeaNing towards selling The cwt’s, but saving my favorite token like I saved my favorite type coin( keep a single memento of the journey), but am not yet convinced it’s the right path.
Comments
Tough decision, but you’ve got to follow your heart. Those people here who brag that they have never sold a coin do not have as good a collection as they should.
Every collector makes mistakes in the beginning.
Surely your eye has improved since you began. It seems your taste has changed along with it.
It is the journey not the destination.
I think you got it figured out and compliment you on a focused collection - and NOT an accumulation. One thing to consider is that you are well into knowledge and expenses with the CWT's. With that said, even with prices rising, you're still way ahead of most .
WS
Only piece of advice I have is that when switching series/interests, keep the irreplaceable ones. This may save you some angst in the future.
I’ve changed directions several times. I personally never regret it. Of course I collect for joy and not to make money. I chose the wrong hobby if I want to come out ahead!
Seasons of life change, interests change, finances change. So why shouldn’t collections change when the time is right?
I'm not much help to you as I have never sold a collection of anything to start a new direction. I have thought about selling my Morgans on occasion and putting those funds towards something else but have not done it. Whenever I have gotten bored or lost interest in a series or type I just started a new direction without selling, that way I can always come back to it later if I choose to. A few years back I finished my 09-58 Lincoln set and have just been dabbling with a type coin here and there since. But just very recently I decided to finish my raw VF Merc dime set housed in an old library of coins album, had I sold that album/coins back when I put them on hold I would not be able to pick up the series again.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Although I try to pare down my seconds or extras from whatever theme, this statement holds a lot of weight for me also.
Sometimes things get put on the back burner for a while, and usually when I do this, when I return, I return fresh with a new appreciation and drive to build on the older holdings.
“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
I recently sold down my CBH collection to a box of 20 (not including another dozen or so in a Dansco). I sold the coins I did not have an issue parting with to start a gold collection . What started out as a gold type set is now a type set a box of 20 double eagles! I also want to build a general type set box of 20 one day. I guess I like variety. I'm OK if my direction changes. Whatever you do I think keeping your favorite one or two from each collecting theme is an excellent idea and will bring good memories.
Sound like you have it pretty much together in your way of thinking.
Collect what you like, change focus whenever your interests change. It is a hobby!! Enjoy it and stop worrying about such things. If you keep your coins, you will not have sellers remorse. If you sell coins, you will have disposable income for other coins or needs. Much like life, make your choices and deal with it. It is a hobby, have fun... or change hobbies. Cheers, RickO
I recently narrowed down my focus and sold a third of what I had accumulated. Feels great, should have done it sooner.