Is there a part of coin collecting you no longer enjoy?
braddick
Posts: 24,819 ✭✭✭✭✭
For me, it is the commercialization of segments I used to enjoy hunting for and collecting.
Is there anything about this hobby that has changed to a degree you no longer find interesting?
I'd be curious what that is if this has happened to you.
peacockcoins
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Comments
The thing that has me less interested in the slab side of the hobby is the lack of grading standards and the resulting gradeflation, good for the TPG's and dealers bad for the hobby collector.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Searching mint bags for high grade modern state quarters.
Would have never thought I’d say this 20 years ago, I loved shows. I once (I know a lot here do it often) took a day off work flew Chicago to Cleveland and back the same day shows were exciting. Now they’re tedious and way too expensive. I let my fingers do the walking.
Edit to add I recognize my age has a lot to do with it.
I can't complain.
I am tougher to impress, these days, so I don't buy as much......But maybe that's a GOOD thing?
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Buying coins online. I pretty much stopped when I began being charged sales tax.
My Adolph A. Weinman signature
Maybe this has always been a thing, but for me it’s the big coin companies paying bounties for coins. Especially when paid to someone who knows nothing about the coin or the hobby in general.
I started collecting coins about 56 years ago. What I see now is an emphasis on sky-high grades, which has certainly helped some dealers prosper. The marketing of common MS and proof coins in slabs with a grade of 70, when ones with a grade of 69 are deemed grossly inferior, seems aberrant.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Old slabs, like rattlers and NGC fatties, now often contain picked-over dreck.
I started building an all-rattler 144-piece commem set in the early 2000s. There were still plenty of amazing coins in rattlers on the market back then. Many of the commems had come straight out of their original cardboard holders and into a rattler or fatty in the 1980s. My CAC success rate for my old holdered coins purchased way back when was 90%.
Now, unless it has a CAC sticker, most coins on the market today in ancient holders are picked over dreck that won't CAC.
I no longer enjoy coin shows or coin club meetings. Online coin sites and online friends have replaced them. I'm pretty much a loner anyway.
I think compared to 20 years ago, these CU forums have a higher percentage of bedroom dealers and people looking to flip coins for a quick buck, and fewer pure collectors. Maybe fewer people now wanting to help other collectors unless there is an obvious profit to be had...
am
Not really. Even if I don’t participate in something (like coin roll hunting) I find it interesting when people find cool stuff. I’m not really into varieties but I do find many interesting.
I was on the mints mailing list for years, 30 or 40 years ago. Bought a mint and proof set each year. Had about 30 years of them. I got lucky with 2 or 3 of them. I couldn't give away 99% of them today. What a waste of money! Just a bad decision on my part. Those days are gone!
Having to worry about fake coins. Makes me wary to buy raw coins.
Gradeflation- when your pop 1/0 coin goes to a 2/0, 3/0, 1/1 etc- makes me not pay a huge premium for a 1/0 coin because tomorrow it may not be!
After missing out on the last few mint offerings that sold out in a matter of a couple of minutes, I've given up attempting to buy any of their limited mintage offerings. If they can't produce enough of an issue to allow the average collector to have a fair chance to get one of their offerings, I won't be buying from them in the future.
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
Well, more like a part of coin 'dealing' I no longer enjoy.
Buying from the public. I always loved meeting people, talking about where they got their coins, etc.
Semi-retirement has kinda squashed that.....
I actually used to be excited by the various Mint offerings. That soured a few years back when I got a sense they shifted from numismatic excellence to running a quasi-governmental money grab. The last thing I ordered was some of the Apollo commems. That experience reinforced my desire to steer clear. The quantity and quality of the non-commercial coins they're churning out now cheapens the character of our nation, IMO. Yes, I know many of the classic commems did too, by the way.
Now it's all just modern, featureless, soulless, perfect bullion-dreck. Classic coins with their warts and bumps thrill me much more. I'm not really sure why a private entity couldn't do what they're doing now just as well or better.
I enjoyed the Wild West that was eBay in the early years. There were deals to be had and sales to be made. Now, it's layered in tax nonsense and corporate BS. No thanks. I get enough of that at my day job.
Still a great hobby. Still great folks inside of it. Certain things just change, like they always have. Some are good, some aren't.
Gradeflation as others have mentioned. A coin which will remain unnamed went for $14K in December of 2014. I was offered same coin for $6K in September, 2016, and passed, for this reason.
I used to go to shows and was always able to find a neat coin (or coins) I liked at prices I thought were fair. Now I can't seem to get anything before it changes hands three times, and is priced so that I'm no longer interested in it.
I'm not buying registry set material, either. Auctions can be a good venue if you're not bidding against someone who gets off on winning an auction and doesn't care what he pays for the coin.
"Seu cabra da peste,
"Sou Mangueira......."
For me nothing has changed. I buy what I like and what is interesting to me. I'm not empressed by the numbers 68, 69 and 70 and don't bemoan the fact that I can't afford the super rarities (appreciate those that can and who are generous enough to display them).
For me it’s eBay that crashed and burned. I miss the good ole days. Boy do I🙁
Unlike so many sentiments I read, I preferred a lower price level so that I could buy more with my budget.
Partly for this reason, I will no longer buy the variety I did in the past. I don't like it enough and practically everything else I never bought at all to have any meaningful amount of money tied up in it.
There was a time I did not have to pay tax on a coin purchase... now that I do pay tax ... I no longer enjoy buying coins.
Think of it like a Buyer’s Premium. Oh wait, I don’t like that
This
All you need to do to avoid sales tax by some companies is to get a resale certificate.
Ebay.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Non collector flippers that pretend they collect
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
All you need to do, in general, not to be charged sales tax is to move to a jurisdiction in which sales tax is not due on coins, or whatever you wish not to pay taxes on. Another option is to elect officials who will change the laws that you don't like. I'm so sick of people complaining of online vendors collecting taxes that their duly elected representatives have mandated they collect.
TPGs have made collectors lazy. Too many collectors rely too heavily on slabbed coins and fail to develop their grading skills.
USAF (Ret) 1974 - 1994 - The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. Remembering RickO, a brother in arms.
Coin world ordering
11.5$ Southern Dollars, The little “Big Easy” set
A serious collector can study thousands of coins that have been graded by the major grading services and get a good education on what a coin should look like in the various grades.
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
Years ago I bought all of the modern commemorative coins. After a while, it got to be too expensive, and some of the things they commemorated did not rate a coin or coins, in my opinion. Now I only buy pieces that interest me. The complete collection is not my goal.
CAC ended my interest in buying expensive U.S. coins. Too many collectors and investors believe that any coin without a sticker is “dreck.” Using that criterion, most all of my collection is “dreck.” I love the U.S. coins in my collection and have no desire to sell them, but the time for spending significant money on U.S. coins is over for me. I have branched out to British and imperial Roman coins and continue to buy 19th century political tokens on the rare occasions I when can add a new variety or significantly upgrade one that I have.
The only way to really make money on many of the mint’s offerings is to buy the gold coins and have the price of bullion increase. That’s why my modern gold commemorative coins have become “a good investment.” I also bought many of them in the secondary market and let someone else take the hit on the high issue price.
But, yes, most of the modern mint issues, including some of the limited editions, are “bad investments,” especially if you buy them from the dealers after they have been flipped.
This doesn't impact me but it does others depending upon what they collect. Not all of them are flippers either in the sense it's a quick process. Many I describe as "investors".
The collector should also spend a lot of time with the ANA Grading guide. My studies began with the Brown and Dunn book of line drawings in the 1960s and continued with “Photograde” in the 1970s. I also looked at many coins. By the mid 1970s, collectors who were two and three times my age were calling me “an expert grader.” LOL!
Coin collecting is a hobby with many, many areas... U.S. coins, world coins, ancient, modern, PM's, series, mints, raw, slabbed, etc., etc.. This allows for choices. What is interesting for a period of time, can change to another area due to many things. My focus has changed several times over the many years I have collected. I still have the coins from those once interesting collecting segments. I even look at them from time to time. My collection is a reflection of both the hobby and my journey along the way. So, while I may no longer seek something that once was a passion, it does not mean I have no interest. Now I just collect coins of special note - to me. Cheers, RickO
I used to buy one of almost every coin the US mint produced. When they decided to make it more difficult I quit buying from them.
I guess it's always nice to make money. My goal for the hobby is/was never meant as an investment. If that was the case, I would have starved years ago!
Between you and me; I know I'm losing money with this addiction......I mean hobby! 
The only upsetting part with these mint and proof sets. Down sizing my collection, I can't even break even off loading them!! I'd be better off just breaking them out and spending them!!
Like you say; you have to be very selective buying mint produces today without getting totally ripped-off!
Cost,
Over the years I priced myself right out of collecting. I wanted the nicer, best stuff, and just dont have funds to fork over 5-6 figures on everycoin.
eBay! I notice a lot of sellers list coins with buy it now with outrageous prices! I will admit... I have found some individuals to be very reasonable on best offer, but they are far and too few in my opinion. With the eBay fees, the sellers expect you to cover that and pay over market value just to offset their cost for selling. So fees and taxes have ruined online sales.
Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP
I don’t enjoy seeing state colonials coins graded all over the spectrum. It’s frustrating when I see a poorly struck, granular, scratched coin that I would net two grades lower or more, in a straight grade VF or XF holder and the dealer is selling it at the VF or XF price when it clearly shouldn’t be valued as much.
Type set collecting. Early on I really enjoyed it, but I have since become a pure series collector. For me, it’s way more challenging/rewarding.
Dave
When you say series, do you mean complete sets?
When I was young I didn't need or use a loop. Now, I can't read the date without a loop. Old age gets in the way... LOL
There isn't the sense of adventure there once was, either.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
Usually what I no longer enjoy... in terms of coins... is replaced by what I have seen in hand and enjoy. There is so much to look at and appreciate. And that upside in growth and appreciation that leads me to being a well rounded numismatist is what matters. In the process, one has to expect that not everyone is going to see things... including opportunities and coins that really should be avoided in the same light. Everyone has a point of reference in terms of what they have seen. Numismatists should consider exploring beyond their comfort zone to see what it is that they are likely missing out on. The world is huge but it has become a smaller place based on technology... think about how this forum connects collectors.
What I really "no longer enjoy" is that numismatics in general, is afraid of the future in terms of a general reluctance to change what is either obsolete or just fails to capture what is significant in terms of best describing the state of preservation as to describing a coin. And that is what grading should be about. Part of the reluctance is that there seems to be little if any interest in recognizing that grading needs to be a work in progress. As a greater number of coins within a series and a specific date are graded, there should be a benefit to what has been learned in terms of the characteristics as to what is worthy of various grades. I am not convinced that the benefits of what we should appreciate has been implemented into a practical application.
Some complain about grade inflation without any acknowledgment that the initial grade may have been ridiculous... so an upgrade with subjectivity being the wildcard should really not come as a surprise to anyone paying attention. Some talk about grading standards. And while they exist, a one size fits all approach to standards within a various series is the problem and NOT the solution. And that is part of the problem... a 1904 Morgan in 65 is just not going to have the pop of an 1881-s... a 1926-S Buffalo is just not going to have the same characteristics as a 1938-D...and that is how it is.
There have been several threads as to various coins and the grade and the auction hammer. There simply is no formula that is going to dictate the grade or the valuations based on the look of a coin. Some coins have the look and others don't. And that turns full circle back to subjectivity...
Experience the World through Numismatics...it's more than you can imagine.
My standards have increased over time too.
Concurrently, my income has gone up over time but not as much as the prices of the coins I used to buy or would like to buy now. And this isn't for five and six figure coins, mostly in the $250 to $1250 range now.
Any coin produced in comparatively primitive circumstances (as all colonials/territorials/private gold were) will be relatively difficult to grade commercially. So don't buy coins that don't meet your standards, and be prepared to pay up when you find ones with choice surfaces and nice strikes.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
@MOS0231 Yes, I prefer to collect a complete series, in a specific grade. I like to complete sets, so this limits me to a degree on which series I can choose.
Dave
Buying and selling -- especially selling. I used to actually enjoy these transactions, and I bought and sold many hundreds of coins mainly in the $20 - $300 bread-and-butter collector range. The interactions with random fellow hobbyists through the Internet and then through delivery of funds and something cool for their collection, or mine, brought me pleasure. Now, though, the thought of having to image things, list them, communicate with people, package something up and ship it is usually enough for me to not bother listing anything to begin with. I've got enough things I ought to list to buy another boat with the proceeds, if I ever get around to it, but it just seems like such a bore.