“Buy only CAC stickered coins, preferably in PCGS slabs.”
Had I done this, I would’ve overlooked some of the best coins in my collection and my collection would be incomplete.
I also don’t like it when people say you must view a coin in hand before purchasing. Sometimes, this just isn’t possible. Good pictures will be sufficient 95% of the time.
PS-buying the keys first worked very well for me, overall, despite a few hiccups. It also helped me learn some valuable and important lessons. Also, if I had to replace some of them, today, the quality wouldn’t be as good and the cost would be prohibitive.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
@Catbert said:
Similar thought, Mark. "Buy the best that you can afford." I think it should be "buy the best that you can understand." If one doesn't have much experience or understanding about "the best", then one will likely make regrettable mistakes.
While I agree, “the best quality I can understand” is sometimes priced at levels I don’t understand, or that I just don’t like. In those cases, I invariably choose to not collect the series, but that’s just me. And, for example, if someone told me that he was collecting Classic Commems in nice original 66-67 because he didn’t want to pay 20+ times as much for wildly toned 68’s, I wouldn’t tell him he was making a mistake.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
@Catbert said:
Similar thought, Mark. "Buy the best that you can afford." I think it should be "buy the best that you can understand." If one doesn't have much experience or understanding about "the best", then one will likely make regrettable mistakes.
While I agree, “the best quality I can understand” is sometimes priced at levels I don’t understand, or that I just don’t like. In those cases, I invariably choose to not collect the series, but that’s just me. And, for example, if someone told me that he was collecting Classic Commems in nice original 66-67 because he didn’t want to pay 20+ times as much for wildly toned 68’s, I wouldn’t tell him he was making a mistake.
I also don’t always agree with buying the best quality you can afford, either. That can be bad advice. I would rather own a 66 when a 67 costs 10 times as much $$ and the difference in quality is almost undetectable or imperceptible. Put that money towards another issue that you need for your set. This is called finding your optimal grade level. This is done when the quality difference diminishes severely as the price level increases substantially. Or when the price level increases to point that you can no longer afford it comfortably.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
@MFeld said:
I’ll start and I realize that numerous people might disagree.
“Buy the “key” dates first”.
I think this is poor advice. Because when someone is starting out, their level of knowledge is low and their collecting preferences haven’t been firmly established. And that means that they’re more likely to make purchasing mistakes and/or change their minds about what they want to collect. If they buy the (more expensive) key dates first, the cost of tuition can be unnecessarily high.
Buying the key dates first works for experienced collectors starting new sets, not for brand new collectors.
The one instance I kicked
myself for listening to was around 2018, when there was a drumbeat by some predicting the death of the hobby is at hand, liquidate while ye can. I had 8 or so GSA CC Morgans, with the original boxes and certs; nice white coins, all 63/64s. I figured I should sell them as they seemed generic and poised to lose value as the hobby declined. I posted them on the BST, for $185 ea, and took an offer for $175 ea for the lot.
Of course within a few years they were selling for $300+….
@Walkerguy21D said:
The one instance I kicked
myself for listening to was around 2018, when there was a drumbeat by some predicting the death of the hobby is at hand, liquidate while ye can.
That was one of the reasons why I sold my early MS Walkers!
The worst advice is also usually the most common; "collect these" where "these" are the hottest new thing. The best bet is to pay 10% as much and collect what has gone out of fashion or pay 1% as much and collect what never has been in fashion. "out of fashion" is great because it's already been categorized, cataloged, and collected. "Never in fashion" is great because you don't know what you're going to find.
Just because something can stay hot forever is little reason to collect it. "Forever" tends to be measured only in decades anyway and there are ways of collecting them out of the money if you can't resist.
Comments
“Buy only CAC stickered coins, preferably in PCGS slabs.”
Had I done this, I would’ve overlooked some of the best coins in my collection and my collection would be incomplete.
I also don’t like it when people say you must view a coin in hand before purchasing. Sometimes, this just isn’t possible. Good pictures will be sufficient 95% of the time.
PS-buying the keys first worked very well for me, overall, despite a few hiccups. It also helped me learn some valuable and important lessons. Also, if I had to replace some of them, today, the quality wouldn’t be as good and the cost would be prohibitive.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
While I agree, “the best quality I can understand” is sometimes priced at levels I don’t understand, or that I just don’t like. In those cases, I invariably choose to not collect the series, but that’s just me. And, for example, if someone told me that he was collecting Classic Commems in nice original 66-67 because he didn’t want to pay 20+ times as much for wildly toned 68’s, I wouldn’t tell him he was making a mistake.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Bad advice: “If you’re not sure, don’t buy it.”
Some of my best purchases have been a bit of a gamble. And I’ve learned a lot (and had a great time) by repeatedly straying into unfamiliar territory.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I also don’t always agree with buying the best quality you can afford, either. That can be bad advice. I would rather own a 66 when a 67 costs 10 times as much $$ and the difference in quality is almost undetectable or imperceptible. Put that money towards another issue that you need for your set. This is called finding your optimal grade level. This is done when the quality difference diminishes severely as the price level increases substantially. Or when the price level increases to point that you can no longer afford it comfortably.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
"Send it in to our hosts and see what they say"
Collector, occasional seller
Understand includes understanding valuation.
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
Buying the key dates first works for experienced collectors starting new sets, not for brand new collectors.
"Are you drinking the Kool-Aid" referring to coins with CACs.
The one instance I kicked
myself for listening to was around 2018, when there was a drumbeat by some predicting the death of the hobby is at hand, liquidate while ye can. I had 8 or so GSA CC Morgans, with the original boxes and certs; nice white coins, all 63/64s. I figured I should sell them as they seemed generic and poised to lose value as the hobby declined. I posted them on the BST, for $185 ea, and took an offer for $175 ea for the lot.
Of course within a few years they were selling for $300+….
That was one of the reasons why I sold my early MS Walkers!
The worst advice is also usually the most common; "collect these" where "these" are the hottest new thing. The best bet is to pay 10% as much and collect what has gone out of fashion or pay 1% as much and collect what never has been in fashion. "out of fashion" is great because it's already been categorized, cataloged, and collected. "Never in fashion" is great because you don't know what you're going to find.
Just because something can stay hot forever is little reason to collect it. "Forever" tends to be measured only in decades anyway and there are ways of collecting them out of the money if you can't resist.
You can always do that but you may not like what they tell you!!
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 would have to go with "CAC coins do not bring a premium so don't pay more for them" or "CAC is a fad".
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