Do you guys ever hold off on buying a coin because it's not your core collecting interest?
FlyingAl
Posts: 3,565 ✭✭✭✭✭
This is something that I've recently been juggling with. I don't feel like I'd end up buying bad coins for the series (I think I've been in the hobby for long enough to know what to look for), but I always seem to hold off on buying something that isn't relating to my core interests or a cherrypick. Now that I think of it, I've only really broken this rule twice, and one could probably be considered relating to my core interests.
For example, I've been considering going for a nice War Nickel in 67, hopefully an original coin with nice luster and solid for the grade. I've seen one or two that I think would meet my criteria, but I haven't jumped on one because I seem to want to hold off and avoid having just one piece of a type in my collection (just a loner piece if you will). A type set is out of the picture here as I wouldn't have the funds to make such an endeavor happen.
I would also say another issue is cost. I recently went for a Standing Liberty quarter in 64 that is much more than I would usually spend on a coin because it was a cherrypick. The coin is fantastic, but I won't hold on to it once I get the reholder done because it's a lot of money to be holed up in one coin, even before the value of the cherrypick is added. I would have never even considered a Standing Liberty in 64 because of the cost and the lack of relation to core interests, even if it was a really nice coin.
Anyways, enough rambling. Any of you guys had this issue?
Coin Photographer.
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I don't have a core collection. I buy coins I like.
I try to stay the course but often end up expanding my "core" interest. I think it's a virus. In your case I might try to put together a matched set of War Nickels. Hmmm, that sounds like fun.
I have a tendency to impulse buy cool looking coins just because they're cool looking although I still have a couple of dozen coins needed in my main two sets that I should really be focusing my coin budget on. So it goes sometimes.
I've allowed myself one box of 20 of miscellaneous "cool coins" and that is my limit. Luckily I still have a few open slots...
chopmarkedtradedollars.com
Did that for 15 years.
I used to be limited to just one series.
Now, I buy whatever I like and there are about a half dozen series that I'm interested in.
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 buy what I like but it is all PCGS CAC gold coins. I stopped putting limits on what I buy and collecting has become much more fun.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I recently saw a 1926 $10 Indian in MS-62+ For $1400 at a coin store that really interested me because I used to have one back around 2001.It was a 1908 in MS-64 I paid $800 for it.I was really seeing how I could make it happen but I started thinking I really should focus on trying to finish my Morgan set as far as I can.
So there you go,my Morgan’s mean more to me than just having a $10 Indian again.
But I came very close to getting it.
I have a box of 20 for this situation - I recently added a couple civil war tokens which were well outside my usual acquisitions. The box of 20 has given me permission to investigate other areas of numismatics that I might not have otherwise. I highly recommend allowing yourself to explore. I would also advise sticking to TPG material and doing homework before spending serious money outside your areas of expertise.
I recently auctioned my box of 15 impulse buys at Great Collections. Took the proceeds and bought a beautiful PCGS MS62 1840 Small Date Large Cent. Even though I wound up losing some $$ on the impulse buys the whole auction experience was fun. I got to enjoy some different coins for a while and the new addition to my core collection is a beauty. I look at this as a savings plan for my next large cent purchase. Unless I first decide to auction off my Commemorative rattlers.
I never buy any coin "impulsively". Due to what I collect, there is usually nothing I want to buy and if something shows up, I have to buy it then or possibly wait years for a second chance. For some coins, potentially no second chance and I'm not referring to narrow differences in quality. I'm referring to any decent coin or where there may be no comparable at all.
I have a core collection, one primary world design covering four denominations and two mints. For the last 10 years, I have bought very little outside of it. I have two secondary collections (both also non-US), but for one, I have not added to it in over nine years.
I have many coins I'd describe as "leftovers" from my prior core interest and secondary collections (also all non-US). This covers four areas. There are a low proportion I want to keep but the rest I'd dump at the right price if I could avoid the administrative inconvenience.
Since 2006, I haven't bought anything else, and I have no intention of buying anything outside of my core interest or two secondary collections in the future either.
Each collector needs to decide what kind collection they want to build based upon their interests and budget. Most collectors wouldn't like my approach finding it too restrictive. But if I did anything else, I know I'd regret it, because I'd be buying coins I overwhelmingly consider inferior to those I buy now.
I don't have the coin budget to do more than what I am attempting to do now.
Not unless budget is a limitation.
I simply buy what I like. I did series years ago. Much more fun this way, and the variety sure does make it interesting. Cheers, RickO
I wish I had more restraint and discipline at small shows. At FUN I’m very focused on my core series. But at small shows I come home with stuff like this, when I see interesting things at perceived bargain prices….though I have no idea what the real market is for such things.
Absolutely unorganized and collecting in every dang direction. Zero ability to say no if I want it , only limited by cost 😁
Below is a couple snapshots of my collection and me preparing for our next silly purchase 🙀🦫
🎶 shout shout, let it all out 🎶
Yes indeed, I just started doing this. I have always collected two main US coins. This year I ventured into gold and a few other one offs. The other day, I bought a 1942/1 Mercury on an impulse buy. I have never collected Mercury dimes, didn't even really like them. But for some reason, I just had to have that coin. This is a crazy hobby ain't it?!! AC
I usually approach a show or an auction with a few lists, top, middle and bottom. The top items come first, but if I see an item that is on a lower list which I like and priced appropriately, I go for it.
One of the regrets I have had is that I passed on some things because I thought I was not ready. For example I am collecting British coins, at least one per king or queen. When I was not as far along as I am now, coins from Richard II and Richard III in very nice condition showed up in a "bid or buy auction." I should have jumped on them, but they are several thousand dollars apiece, and it was too early ... I thought. Since then I have learned that the coins from the reigns of those two kings are very hard to find nice.
While I typically go to shows or search auctions with something specific in mind, I am open to opportunities I come across. If I see a coin I like at a nice price I'll buy it and not worry if it's going to be part of an incomplete set or "loner" as you put it.
Pocket Change Inspector
Generally I have not been strictly tied to my gold dollars but over time I have been more willing to hold off on a cool coin that isn't a gold dollar. And I've sold off a lot of my non-core collection. The ones that remain are my raw albums and a few slabs I really enjoy. Been tempted to sell those, too, and only have the raw albums and gold dollars. Not sure if I'll regret it, though, and I don't need the money right now.
For most part no. However if can’t buy it right my buying shuts down.
I have this problem too. I have my eye on 2 or 3 world coins. But I can't bring myself to buy them because I'm focused on Walkers 1st, and type set 2nd.
However, after the next show I attend, my plan is to take a break from those core interests and start on a box of 20 sort of collection for a while.
Yes.
I really want a nice seated dollar. I always end up turning them down to save money for bust halves.
BHNC #248 … 130 and counting.
Coins per se are my core interests. So, if I see a coin I like, I buy it.
I changed main interests in the past few months to gold coins.
If i made a list of coins i was offered that i passed on and truly regret that decision to pass on now, every single one would be coins i passed on because i wasnt collecting that set at the time...
Only at bargain prices would I go outside of my main interests.
When I started collecting as a kid, I would buy anything that caught my fancy, as long as I could afford it. Limiting myself to a "core interest" wasn't even a thought that crossed my mind. That really didn't change until I was in my 30's, when I realized that I would never be able to afford to collect everything I liked, but I still collected a wide (but not unlimited) range of coins. And now that I've turned 60 I'm even more limited, mostly because I have to consider if I'll have enough time to put a serious dent in any new collection. (I've also sold off a lot of smaller collections that were going nowhere, and never would.) In retrospect, I could have built a better collection by staying more focused the whole time, but I would have learned less and had less fun. No regrets.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Only you can answer what having fun looks like to you. I’ve been to plenty of shows and walked away with stuff I wasn’t planning on pursuing. Sometimes cool coins demand immediate action.
Besides, completing a set or collection is overrated.
Yes, but finding something for which you've long searched is a great feeling.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
no cause my core coin collecting interest is to get any coin that gets my notice
Silver junk coins for sale for $15.99 at the link below
https://photos.app.goo.gl/Gx5ZquxzFifRtv5u6
Ha! My core interest is every coin in the Redbook!
I collect so many series that, no, I don't impulse buy coins not in my bullseye.
I've only purchased a couple of items outside of my collecting goal. They were just duplicate Morgans like an 1896 proof cameo and an 1883-CC. I already had a Morgan in higher grade, so I sold them off to keep focus on my main collection. They were fun to have, but if I plan on completing some of the U.S. type sets that I'm working on I must stay focused. It's fun to go off the path once in a while, but remaining focused will be better for my long term goals. I may allow myself to go off the rails again, once I complete two of my main sets. Only time will tell.
Only you can decide what will work best for you and makes this hobby fun. That to me is most important.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
Make sure you flea dip before putting in your collection. 😉
Hoard the keys.
When I go to shows, I stay pretty focused on a couple series that I collect. I'm not a type collector anymore. That said, if I see a very nice coin at a fair price, I'll sometimes buy it, with the intent of flipping it. Some dealers aren't great at pricing, and you can get a real deal.
Dave