It's OFFICIAL....I have now been collecting for 70 years.!!!! Now hear this:
AUandAG
Posts: 24,929 ✭✭✭✭✭
Collect what you want if it's your intent to keep it a hobby.
If you intend to eventually sell as a source of income in your retirement, let me add this:
Don't go for high grade common material. Like modern 69's and 70's, common MS 63-65 Morgans or CC's.
Low grade common stuff is to be avoided.
What you need to do is focus. Yes, focus on rare material. The more rare the better. Grade doesn't matter (of course it really does) just as long as it is rare.
You can still stay with your core coins that you enjoy just make sure you get the rare ones as quck as possible. Common ones are always available and will be available if and when you decide to complete a set.
Rare coins are just that, not easy to find. Sometimes expensive (not always out of reach though). Focus on the rarest you can afford. If you have to strech, do so..
Now that it's been 70 years and I'm now retired (actually way over 10 years now). My common stuff sold for a profit, for sure, but my rare stuff knocked it out of the park. I should never have bothered with that common stuff. Sunk a lot of money that could have worked better for me in the long run.
Be well, stay safe, and enjoy and FOCUS!
bob 
Comments
Bob - Great advice!
I’m curious to hear more on your perspective of what constitutes “rare”. I collect certain tokens that are exceedingly rare but relatively inexpensive since the demand isn’t there. I have no idea how they will do over time.
On the other hand, some collectors may think the 55DDO Lincoln is rare - but you can usually find dozens for sale at any given time - I saw one dealer this week that has 5 in stock between AU55 and MS62. It’s an expensive coin but all I see is downside given that the price seems to be more a function of demand.
Rare as per population reports. Of course if there is no demand, now, does not mean that there will be no demand down the road. MS 67-68 Commems from the earlier years were overlooked for decades but then they took off like a rocket.
Redfield dollars are similar. Many HIGH grade dollars were overlooked for ions. Now, empty your wallet brother! Then they have the provenance to go with which never hurts.
Coins from "famous" collectors can be another something to consider.
Rare rather than common is my point. Do your research. Demand will be there someday if it's not today. At least that's the way I see it.
bob
Happy birthday sorta as well 🙂
I was putting together a little Civil War Token set and wanted the "Good For a Scent" token in your avatar and ... WOW those cost a lot! There must sure be demand for that one.
I started collecting in the summer of 1954. I started by going to my local Bank of America and buying cent rolls, searching and returning (never leaving the bank) and getting more rolls until my money ran out. interesting I never found a 1909s or 1909svdb, but did get all the rest. I remember well finding the 1914d....what a day that was!
bob
Great story, Bob. Also, interesting to think that if you found the 1914-d cent in 1954 it would be similar to finding a 1995 doubled die here in 2025.
Time sure rockets by.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
I collect for the enjoyment of collecting, not for gains or losses that might happen someday. Your first sentence works for me, the rest, not so much. It no doubt works for many others.
It's actually for new collectors to put their collecting in perspective. IF it's a hobby, great. IF it's for the future then listen up.
When I began collecting it was certainly a hobby with my paper boy and lawn mowing money. But, when I actually began making an income and had a family, it changed from hobby to future. But, I didn't get the real picture. I had no mentor. Just say'n.
Glad you enjoy the hobby!!
bob
Same, I don't have much extra change, but when I do I buy a nice coin that I like, not necessarily one that is especially rare or high grade.
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
Congratutions! I've been at it for almost 65 years.
My only comment is that it's too bad the common dates get such a bad rap. I've lined a set of Indian cents. Many of the ocins in that set are comon, but it's fun to think back over the events that took place each year those coins were issued.
If money is all you care about, staying away from the common coins might be good advice. But if you want to have fun in other ways, the common coins have a lot to offer.
I have collected Civil War tokens. I've known collectors who wouldn't buy anything that is rated lower than R-6. They don't know what they are missing. Most of the "copperhead," pro-southern varieties are common. Yet, if you all you will buy are the rare varieties, your set will have the Wealth of the South tokens in it, and not much else.
Here is a Wealth of the South variety.
And here a couple of common copperheads that the "rare tokens only " people would completely ignore.
Of course collecting can be about completing sets and buying common dates, etc.
That's why I used the term focus. The rare dates will only get more expensive as time goes along and should, in my opinion, be obtained early on. Pick up the common dates later in the hunt for the set completeion. Common dates will most likely always be common..
Maybe that is why some collectors focus on R-6 and above first.. They know that material is hard to find and prefer to get them early on.
Thanks, Bill,
bob
Good for a Scent is definitely in demand and expensive. Aside from CWTs, I also collect lumber and misc. tokens from my home state - many of them are quite rare (handful known) but are generally less than $200.
The concept that the expensive stuff always went up and stayed there was valid until sometime after 2012. I've purchased some heavy hitters at that time, and seen them to lose value and not come back, at least over the last ten years or so. Yes, from the time I started collecting in the early 1960s until that time, the price of key dates always seemed to go up, but even then there were exceptions. For example the 1877 Indian Cent was more expensive in 1969 than it was in 1973.
I would also caution new collectors not to buy the rare stuff first. You need to learn how to grade and spot problem pieces before you start paying the big bucks. A mistake on a cheaper, more common coin is usually a lot less than a big mistake on an expensive item.
Some good advice here. While I collect sets and enjoy them for what they are, I do try to think about resales and if other collectors will want to own what I have. I think my core stuff will be fine.
Well, you beat me, Bob. I started in 1958 when my Uncle Schley gave me beautiful 1884 O Morgan for my 10th bday. Couldn't garner any of those but started with cents and nickels. When my friend and I took over a 126 customer paper route on Sundays and far less weekdays. I began to have regular funds and mostly in change. Was I ever in hobby heaven. Soon moved to dimes and started on albums and bought my 1st redbook. At first I thought everything was so valuable, but was educated by tbe lady owner of city hobby shop. Lol.More memories than I can count.
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
Keep in mind this is a PCGS forum. Most people that visit here know that rare and expensive stuff needs to be in plastic before they buy. They should know by now that buying from a reputable dealer is a must (in person or ebay, etc). Buying raw, expensive, and rare, should not be considered unless one is proficient in grading their material and can view in hand or at least be able to return for a full refund if not satisfied.
bob
Thanks Bob,
I agree with most of what you write. The only clarification from my perspective is that rare is something that you can't find easily. Some coins have low mintages, but are easy to find in most grades, like the 1916 SLQ. Years ago, at a Heritage Platinum night auction seventeen of them in various grades were sold.
Not saying you're wrong, but I don't pay attention to pop reports. Coins get made. Remember the 1953 S Full Bell Franklin Half in MS 66? Was a pop 1 until it wasn't. The 1896 Liberty Nickel in MS 66 had a pop 4 fifteen years ago, give or take. It's now a pop 30.
"Seu cabra da peste,
"Sou Mangueira......."
Congratulations!
A wise old coin dealer (who ran a small auction business) once told me he couldn’t sell low-grade rarities and to stay away from them.
In my opinion, the rationale being that someone who can afford a rarity, and who has a collection that requires such a rarity, would be able to afford the same coin IF one ever presented itself in a high grade.
What do you think?
I think it would astound us the amount of semi key and key coins that are held in private collections raw without sharing this info with the collecting community. I have never given pop reports much, if any, consideration regarding buying habits or method of collecting. Then that's just my opinion.
Jim
Edited to add: Hopefully these raw coins are not counterfeits, which is becoming a far more possible occurence.
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
Great advice!!
Buy the best you can afford and buy the keys first!!
I followed that recipe and things worked out well for me.
Huge congrats on seven decades!!
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'm heading up to 55 years of coin collecting (off and on)... This is purely a hobby for me. I have it calculated as a monthly line item in my budget. That said, there are times when I do extra contracting work or get a nice tax refund that can fuel more expensive purchases. I'm still a few years out from retirement, so I'll still be in buying mode for the time being, but I can definitely see an alternative approach to my hobby evolving for me. After retirement, I'll be in a position that I'll likely start selling off some of the material that's peripheral to my core collection. If that goes on for a while, I can see where the last coins I have left would be in my Box of 20...
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