ever sold your collection and restarted?
tcollects
Posts: 1,139 ✭✭✭✭✭
Covid gave me a greater appreciation of my mortality, increased my desire to collect experiences over objects. Some of the things Simpson said in his interview resonated with me. I read all the time about collectors collecting a series and selling it whole, moving on to another series, etc. I've never really done this - started over fresh - and I'm curious to hear other collectors' stories. Did you sell by necessity, boredom, change of taste? Did you ever sell it all and start over? Any regrets? I'm thinking of a compromise with myself - sell everything except what's essentially irreplaceable. I value the forum's input.
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I didn't sell everything and start over, but when I wanted to get my pilot's license, I did go through my collection and pull everything I didn't love to get the funds I needed for flight training. I've been a much more particular buyer since then, and I haven't sold a coin out of my collection--old or recent acquisition--in the 14 years since.
I have done this, especially with my autograph collection. I collected pretty heavily between 2004-2011. I then needed money so I sold off 99% of my collection. Just last year I started collecting again, but on a more limited basis.
As with coins, I have sold and bought different things over the years. I don’t believe I still have anything from my original coin collection but I have sold and bought coins over the years, not all at once selling everything and then buying again.
Sort of. I have sold/traded in a great deal of what I had to buy into where I’m going.
"sell everything except what's essentially irreplaceable."
After years of collecting, I find this to be among the best pieces of advice.
I'd also include this:
Collect what interests you instead of focusing on completion of a series.
I switched from blue Whitman folders to older, more interesting type during the late 1970s, then to foreign and ancients. Sold most coins around 1990 as paper money became 90% of my focus, with a specialty in obsolete currency.
I am currently selling off right now. I have the complete ASE type 1 and after the two coin in a couple weeks I will call this done and send the whole thing to GC. I have a couple more I want to get graded including the 1995 W. I plan to take a picture and then mail it in. I might go after liberty proofs next.
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
I have never sold coins - other than some gold bullion at the peak back around 2009/10. I just change my focus from time to time...Cheers, RickO
Yes, I have done that twice and have no regrets.
My first collection was European, a mix of gold and Austrian-German talers (imperial and princely issues to 1918). I had become tired of the coins, and collecting in general, so I sold them about 36 years ago. My second collection focused on Standing Liberty quarters and Barber halves, both in ChAU (55-58 today). Finding nice Barber half dollars was a battle, but I completed both sets (no Barber micro-O or quarter overdate) and sat on the coins for a few years--I was tired of dealer attempts to rip me off. I sold the coins in 2007--stupidly, as it turned out. I thought I got a decent price from a dealer I knew, and later discovered that he simply took them to the next Long Beach show and sold them to other dealers. That taught me a lesson about the business end of the hobby. Since 2007, I have been buying large cents and exonumia, as well as pre-1945 numismatic literature. I haven't been particularly focused, and have bought many coins that did not fit in to my main interests, largely out of boredom. I have been selling these coins during the last few years (sometimes via BST listings).
I have also been selling off coins in my core collection, and will likely make an exit during the next year. In both the large cent and numismatic literature worlds, the number of dedicated dealers has been shrinking to the point that the 'power imbalance' is not good if one is a collector. Furthermore, I have watched the Newman Numismatic Portal's effect on numismatic literature prices--I figure I have lost at least $40K in the value of my literature collection (U.S. and foreign books/auction catalogs/ephemera). I have not bought anything numismatic this year as a result.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
I occasionally sell coins here or there, usually duplicate coins due to upgrades I've made to my sets.
I sold a nearly full XF Indian Head Cent collection 25 years ago. No regrets at all, just a case of change of tastes. It was a great set.
You learn a heck of a lot by selling.
Dave
I've done it three times.
I wish I had a few of the coins back, but no real regrets. If I had to do it all over again, I'd make the same decisions.
I've waited a year or two (or longer) each time I sold before starting again. Then I came back to the hobby refreshed and with new ideas.
I’ve sold certain pieces that I liked and, eventually, ended up replacing them with even better pieces. Certain pieces in my collection are irreplaceable and I’ve never sold them or the whole 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/
Certain pieces in my collection are irreplaceable
No, never sold and started over.
I have changed focus with primary series which accounts for about 70% of my collection value now, since about 2010. I have a few side collections I pursue but intend to get rid of some of it. I would like to get rid of most of my remaining South Africa collection but it's not worth the bother. I dumped the majority value wise near the peak but mistakenly what i still have now. I lost interest due to a combination focusing on my current interest and limited marketability.
If I ever sold my current primary collection, I'd probably quit altogether. I'm not putting anywhere near an equivalent amount of money into coins I like less.
Yes and only regret is not keeping the keys.
I sold my collection of major doubled die Washington quarters back in 2012 and a few odds and ends here and there but never my entire collection.
I have sold and started over many times. I sold my childhood/teenage years collection to fund getting married in 1973. I sold again in 1976 to fund car repairs, sold my complete collection in 1980 to buy a new car. Sold my 7070 set in 1984 to fund a trip home with our new baby from San Antonio to Mableton and back. Also sold my baseball card collection (regret that) and my stamp collection (don't regret that) at that same time to help pay hospital bills for my dad (don't regret that at all). Just before retiring from the Air Force in 1992 I sold off all my baseball cards again (mostly T cards and 1950 star stuff). Last year I sold off the last of the collection I had accumulated over the last 10 years when I realized that my sight had reached a point where I could no longer effectively grade coins or really even tell what some of them were. I did a couple of sales through Great Collections and was very happy with the outcome.
Now I only have bullion and a lot of non-sports cards and that stuff my wife will have to deal with after I am gone.
I was thankful that I collected wisely and was able to make money each time I sold and that I had those collections that I could tap in to to have ready cash when I needed it. I have never had a love of any coin and while I enjoyed them, they were a means to satisfy my collecting spirit and also a means of making some money along the way.
Yes, it is how I became a dealer...... ;-)
I cycle through 25% or so of my collection once every 2-3 years. But I've never sold everything in one go... Not yet at least. Most of the time when I've done this "cycling" it's to pay for a truly special piece or pieces for my collection. I haven't really regretted it yet.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I have done it twice, the first a revolution and whole sale change in focus, the second an evolution within the my current theme.
For the first decade of collecting I was amassing rare date gold. Originally I could afford $2-$3k coins MAX, gradually building by collection of undervalued No Motto $5's, and as my career advanced so did my budget and the ability to afford $10,000+ coins on occasion . Despite my budget increase, my tastes advanced as well and I was frustrated by the fact that the material that I was looking to buy was largely controlled by a few dealers. So the key variable in advancing my collection was less about funds, less about the coin coming to the market, but rather the placement in line that I was to be offered the coin. I sold my gold collection, holding my favorites only to then sell the remainder this past year.
I began concurrently building a high end denomination sets of Spanish Colonial and Latin American issues. Pillar set, Portrait sets, Argentinian Sunface set. Eventually I decided to evolve again....still love collecting in this space, but I sought more rare issues and focusing on crowns vs. minors as I expect the market to appreciate more meaningfully here. Now, as of the ANA sale completion, I have sold almost all of my minors from the denomination sets, held the fantastic crowns that I have amassed, and added further rare and interesting crowns with the funds. New focus is "Iconic Crowns of Spanish Colonial & Latin American Republics"
Latin American Collection
I sold the centerpiece of my collection back in the nineties, a VF 1916/16 Buff for home improvements but I have since replaced it with a lower grade VG08.
I've sold coins to fund new purchases that I liked better and/or were another type that drew my eye. I think it's healthy to revisit one's collection periodically and to cull the herd so as to keep it fresh. I also like to keep my collection small so that it's total value allows me to sleep at night.
"Got a flaming heart, can't get my fill"
Very good philosophy and advice. I don't have a fixed budget and it's flexible to a point, but don't enjoy buying above my comfort zone. This applies to buying any one coin or my collection.
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Despite my budget increase, my tastes advanced as well and I was frustrated by the fact that the material that I was looking to buy was largely controlled by a few dealers. So the key variable in advancing my collection was less about funds, less about the coin coming to the market, but rather the placement in line that I was to be offered the coin.
My budget is a lot less than yours, but expect to run into a similar obstacle eventually. It's my assumption that many of the coins I would like to buy in my series must have sold privately in the last 25-33 years (since the prior auction) but some were handled by dealers and I did not know about it.
My problem is that, within my focus, I either buy it when it shows up, or some dealer buys it and asks 50% more than they paid 2 weeks later.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
i have never sold everything off, i just started collecting different things as time went on, i started collecting pre-33 graded gold over 20 years ago and never looked back
Very cool focus! 😎
There was a time when I sold everything except some of the coins my wife gave me early in our marriage. Those gifts would have been from 1977 and 1978. They were about the only things I kept (1942/1 dime, 1921-D half & 1938-D three legged buffalo nickel) when I disposed of the rest of the collection. There was some hard times, and we needed the funds.
I lost my beautiful wife last year on September 29, 2020, and I simply can't explain how glad I am I kept those treasures from her. I never really replaced everything, as I used to build sets; however, I have been more selective.
Linda and I were married on August 20, 1976, and she passed September 29, 2020. I miss her dearly and happy to have those treasures to remember the joy she had by giving those to me.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
I've sold and restarted a few times. I recently got back into collecting again and I am trying a new challenge-- a MS set of Indian Cents.
I constantly look to improve my collection so I have no problem selling when a better option presents itself. I will say after being in and out of the hobby for 30+ years I feel like I am making better decisions this time around.
TBD
I've done it a couple times. I dont regret it because I have some coins now that I wouldnt if I hadnt sold. That being said---my best advice is if you do sell put aside one or two of your favorites and keep. If you do this several times you will still be left with a special collection.
How do you report sales for taxes. I'm holding onto a V75 AGE graded 70 that I want to sell. There's conflicting advise, and I'd figure I'd wait until 1 year so I'd be able to consider long term cap gain.
Like many on the forum, I go so deep into my "hobby of the month" that it becomes an obsession. Whether it be cars, guns, coins, wine or whatever, moderation has always been an issue for me.
Couple of examples - in the early 90's, I collected every assault weapon on the planet and left them in their original boxes on the shelf in the closet until it was time to move to another passion/obsession. A few years later, I became enthralled with the Band of Brothers series and set a goal to own every WWII rifle that was legal to own in California. I had all the US rifles, the Mausers, Enfield's, Carcano's and even an Arista. I sold those a few years later and bought every Mossberg Bullpup I could get my hands on. I think I had 30 - 35 of them at one time.
Moderation may be the key but I can't even find the door.
I have sold every set I have built but keep a few as tributes. I have built 4-5 different collections at this point and sold them all and the education of that has been part of the true education the hobby has imparted on me.
11.5$ Southern Dollars, The little “Big Easy” set
I have sold two sets of Barber halves XF-AU. Not an easy set to build when concentrating on original problem-free coins. But I'm now working on just coins I like with no really series destination in mind. Although I now have 20 different Seated Dollars, so that may eventually be finished. Love early gold and tough date Seated. Almost everything I buy now is CAC.
I had no choice but to start over, my ex stole my complete set of AU-BU FE/Indian head cents.
... speechless...
Many hard times have forced many sales besides for profit sales. Yes, I have regretted selling the Mercury Dime Collection, the Everyman's Buff Collection, the Indian Cent Collection, two Lincoln Cent collections for medical bills. I've had a blessed life and do not intend to complain. My five grandchildren give me all the joy I could ever want. I have been allowed to return to collecting each time and have no complaints.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
In 2010 I had to sell off about 75% of my gold coin collection to pay hospital bills - I'll never do that again as it's been a slow crawl back to trying to replace everything I sold (and alot more expensive)
"When they can't find anything wrong with you, they create it!"
I’m currently having this exact problem. Everyone says “work with a trusted dealer” but it is hard to swallow that 50% markup.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
YES!!
Sorry for the anger shown.
I regret it everyday of my life!
Although, needed the money desperately at the time. So, I did not regret in receiving the big cash I got. It's just the thought of losing all what I collected.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.The problem I have is that most of the coins in my current primary series I have to buy if it comes up for sale. Those I don't are likely to be locked away for a long time with virtually no lower quality option available, outside of dreck or damaged and often or usually not even that.
If I collected US coinage in the same price range, no way I'm paying a 50% mark up to buy from a dealer. I mostly buy in the $250 to $1250 range and can do it myself. The coins aren't hard to find anyway. I acknowledge it's different at higher price points than mine, at some point.
I was close to it in the mid 1970s when I thought I might be a dealer. I don’t regret most of what I sold because it was bought when I was a kid. The coins were okay, but they were not my “forever coins.”
When I was a dealer, I used my collection to avoid being corrupted by grade-flation. I had to reset my eye after a buying trip.
No, when I sell it will be the end of the trail.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
appreciate hearing the range of ideas and experiences
thanks everyone
I set high standards as what to collect realizing I will not be able to complete whatever the collection is. At some point I realize I have probably gone as far as I can go, financially or in terms of finding new material to add to my collection. At that point I call it quits and say it's time to sell. Usually I'm able to sell without taking a loss. And then I start a new collection. always with an eye as to whether it's something that will be valued by others.
I’ve done it a couple of times. I’m currently re-building the first collection that I built and sold. The first two times I sold out of necessity so there weren’t any regrets. Some days, I think I should just sell everything that I have now. I have two expensive hobbies and it isn’t easy doing both.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
I have sold big chunks, but never everything. No regrets so far. In reality, 90% of my collection is replaceable.
How to best collect is a bit of a conundrum. It’s expensive to buy and sell and buy and sell. Dealers and auction houses certainly love it when collectors do this but sometimes the churn is just people chasing a collecting fix.
At the same time, it’s impossible (or should be impossible) to collect without learning and refining your tastes over time.
So, I guess there’s no “right” answer. For me, the best advice I’ve seen is to “Have fun with your coins”. If it’s too stressful or too expensive to do that, maybe it’s not a healthy hobby for that person.
Right now a different hobby is getting all the funds, but I’m having a blast. If this bull market strengthens even more, it might be tempting to unload a few. We’ll see.