A question to all US coin collectors

newbiecollector · November 24, 2003 11:20PM

This is NOT meant as a slam or any related meaning.
I truely would like to know how many US coin collectors ... collect for the eye appeal and beauty of the coin.

I ask because I have read so many threads on here that lead me to think it is more for investment or future profit. I do not suggest that is wrong, I just would like to understand.
I only collect for eye appeal. Maybe this is not wise but it satisfies me.

When I read my above post it looks like a Troll thing.... I truely do not mean it that way.

I am interested in your thinking about your collecting modes.

Senlathiel · November 24, 2003 11:24PM

I am one of those investment/collectors. I don't actually expect to make much money--but just get the money I put in back out. On the collecting side, the beauty of the coin does make a significant impact (which is why I collect some darkside coinage), however, I equally like the history of the coin. Unfortunately, I don't know much about the history of other countries besides the US, so many of their most historic coins are lost on me. Thus, I am more atracted to the light side than the dark.

LanLord · November 24, 2003 11:26PM

Here's my answer and I'm sticking to it.

I am first and formost a collector. I don't make a purchase with the thought of "how much I can turn this around for".

However, I always get a charge out of looking in the various price guides and seeing that something that I purchased is now higher than when I purchased it.

Conversly, I get a real bummed out feeling when I see that something that I want, or passed on is also now more expensive that what I could have picked it up for.

So, increasing value is important, but I collect because I like what I own and want to complete a set or something basically along those lines.

my3cents · November 24, 2003 11:28PM

I just like the challenge of completing a particular set or having a rare US coin in my possesion- if only for a few weeks.

When I get a REAL beauty, I tend to keep it much longer and drool a bit before reselling it.

I am working on a registry set right now and it appears it may take me the better part of a year to complete it - but that's what collecting is about...to me anyway

Keyrock · November 24, 2003 11:29PM

Always for the appeal of the coin. I just hope to possibly break even in the future, I've some money but then I'm a collector not a dealer.

I look at collecting this way: A friend of mine had a boat (six figure type) who liked to fish. By the time he paid slip fees, maintenance, tackle, fuel etc. He was out tens of thousands of dollars every year. When he sold the boat he took a big hit too and now has nothing besides some photographs and tackle/rods (and fond memories). So I hope to keep the enjoyment, I love the history, the design and the beauty of the coins (currency too) and not take a bath. (BTW - the boat guy is now a collector too

).

Rich

newbiecollector · November 24, 2003 11:30PM

Thanks Lan Lord and Senlathiel..... My post is truely one of interest and not some sort of "slam" thing.

Thanks.

BillJones · November 24, 2003 11:49PM

I always buy coins that appeal to me. That goes for the business and my collection.

For the business I need a quick turnover, so price is very important.

If I am collecting something, I'll pay more, but I don't buy burials. That's no fun either.

I collect coins for the pleasure of it. The profits are nice, but that's hardly on my radar screen as collector. Oddly enough this approach has worked well for me financially, BUT you must remember that as a collector I've held most of my coins for a very long time. I've got a few pieces that I've owned since the mid 1960s, and many more that I have owned since the 1970s.

newbiecollector · November 24, 2003 11:58PM

Thanks Bill........ I am very interested in if the folks on here are "true" collectors or if it is all for profit potential.
That probably sounded strange but it is what i mean.

MadMonk · November 24, 2003 11:59PM

I try to base all my final decisions on the eye appeal of the coin.

newbiecollector · November 25, 2003 12:02AM

Thanks MM... it would be difficult for me to understand how anyone would "collect" a coin without it grabbing their eye.......

DHeath · November 25, 2003 12:17AM

Newbie,

It isn't always eye-appeal or beauty. I have a few varieties that are not attractive that I really love.

newbiecollector · November 25, 2003 12:19AM

<< <i>Newbie,

It isn't always eye-appeal or beauty. I have a few varieties that are not attractive that I really love. >>

I don't want to contradict (sp) you......... but isn't that what makes them eye appealling?
It does to me.

Fairlaneman · November 25, 2003 12:20AM

A darkside Troll......

Usually a piece is bought "Just Because". Just because can have various meanings. Eye Appeal, Profit, for the Collection or just because it was dirt cheap and interesting. Sometimes the purchases are not all cracked up as I think they are. Then again sometimes they are.

Ken

hamiltonjh · November 25, 2003 12:24AM

Of course I'm interested in value, and I HOPE the coins i buy do become "more valuable" but I dont collect according TO value. I buy what I can afford. I keep track of their value for insurance purposes and it's nice to know what they're worth (more or less) collectively. But, like Lanlord, I dont buy thinking about how much can I sell them for.
I look at the safe I keep my coins-n-stuff in, and think "wonder when I'll have to buy a bigger safe" because my collection is growing. Thats what I want. A nice, big collection full of different kids of coins raw and slabbed that I can give to my kids someday.

newbiecollector · November 25, 2003 12:26AM

<< <i>A darkside Troll......

Usually a piece is bought "Just Because". Just because can have various meanings. Eye Appeal, Profit, for the Collection or just because it was dirt cheap and interesting. Sometimes the purchases are not all cracked up as I think they are. Then again sometimes they are.

Ken >>

Hard to argue with that Ken. Just in my reading on this forum I got the "feeling" it was more of a profit/investment, or "mine is better than yours" situ.
That impression, of mine, confused me and I just wanted to ask. Hell, I can not buy super priced coins, but I can ever now and then get one that "catches my eye"..... I like it.. gives my heart a little bump.

newbiecollector · November 25, 2003 12:39AM

Thanks to all that replied. I did just want to know who collected for the joy of collecting.
I do admit, I got more replies that i thought I would.

Thanks.....

JoyofCollecting · November 25, 2003 12:43AM

As my handle says, I collect for the joy of it. I spend 90% of my coin collecting funds on one series. I will not buy a coin that doesn't have nice eye appeal unless I know I can make an immediate profit.

However, I have been collecting this series since I was about ten years old. Early on I learned that there were many times I would find a nicer coin and want to upgrade. Therefore, price is always a consideration as it is reasonable that I will upgrade at some point in the future.

Additionally, I do not have unlimited funds. Therefore, when I am looking at a particular piece....it's price becomes relevant as to what else I might be able to buy for the same price with my limited funds.

Finally, if you concentrate on one or a very few series; you will come across great deals that can be sold quickly for a profit. Price is always a consideration in these transactions. As an example, I had a particular date in an ANACS AU58 holder that was just gorgeous and just oozing eye appeal. A couple of weeks ago I came across the same date in an ANACS MS63 holder for about $400 less than bid. The coin was technically an MS63 but I didn't think it had much eye appeal. I bought the MS63 coin and sold it for a $400 profit in two days. I prefer my AU58 with the eye appeal to the technical MS63....but price was a consideration in both transactions. Yes, the $400 profit was put right back into the collection through the purchase of an eye-appealing coin.

Fairlaneman · November 25, 2003 12:50AM

<< <i>Just in my reading on this forum I got the "feeling" it was more of a profit/investment, or "mine is better than yours" situ. >>

Wayne any person that does not consider the cost/profit or loss factor when buying a coin just must have green backs to throw away. Maybe this is why you get the impression you get about this forum and its members. Most folks probably do not like to throw money away. JMHO. On the point about "Mine is better than Yours". Well thats just the good old American Competition kicking into gear. Seems like competition in America pertains to almost everything. Heck you cannot buy a Hamburger without getting into a debate about who's is best. My thought is a "Whopper".

Ken

barberlover · November 25, 2003 12:58AM

Whats wrong with you wierd strange people !!!!

Paying hard earned money for "shiny round pieces of metal !!!!

Opps!, I was looking in the mirror when I said that

.

If I collected for profit I wouldn't like barber coins so much. About the only series thats done worse the last 13 years are 3 cent nickles.

I collect what I enjoy, if they go up in value so much the better but I buy coins that grab me. I was just looking at my newest purchase again, my 1857 flyer that I paid 1150 for thinking I paid way to much for then I looked at it abd said no I didn't pay to much for it. How strange, paying 1150 dollars for a penny just because it has a razor sharp strike clean surfaces, no carbon, full flashy luster and untampered with apperance doesn't make it worth that much, or does it ?

skate4357 · November 25, 2003 1:32AM

I buy the slab. I sell the slab. I am upgrading my registry sets my Dad gave me, In other words I do not want to pay stupid monies for Plastic holders, So I sell the trash for cash and upgrade my Registry sets. Eye apeal, or Appealing as stated earlier, makes some sense although the slab grade makes the Registry. My Registry sets are not for sale. Thanks to all who have helped .
:groupsmile

mgoodm3 · November 25, 2003 2:13AM

I collect because I like coins. I haven't sold any coin before and don't plan to. I like rarity in coins such as key dates. I like type coins just to have en example of a type. I like just about everything. I like em white I like em toned.

DHeath · November 25, 2003 2:18AM

Perhaps a better way to say what I mean is to show you one of my "beauties". Here's a real eye-grabber that I really like. It has very little eye appeal.

JamminJ · November 25, 2003 2:40AM

Hi Newbie,

I collect US coins for the exact same reason I collect darkside coins, I enjoy the history arounds them (Maybe Linclon used this quarter!), appreciate their artistry and generally find owning them fun.

However, I recognise that the market for US coins is quite a bit different than that for word coins. For intstance, key date premiums can be quite a bit higher, small differences in preservation can mean big differences in price and doctoring of coins seems more prevalent. Thus, for US coin purchaces I'm far more cautious: specializing in a single type, keeping an eye on Greysheet pricing & auction results and seeking the advice of more knowledgable folks when I can. I also rely on high quality third party grading services to help protect my downside.

On the plus side is that with careful choosing I should be able to lose less on my US coins than my darkside stuff if ever forced to sell. I've even had profitable offers a on several coins whichis the ultimate compliment over here.

After all those words, how about a coin! Here's my 1833 quarter from my favorite US series.

Please don't rat me out to the darksiders.

-JamminJ

stujoe · November 25, 2003 2:45AM

I collect mostly for the history (which is why I am more of a date/mint mark collector, I guess) and, to a lesser extent, the beauty.

jacktheknife · November 25, 2003 2:54AM

I absolutely collect for eye appeal. That often correlates to high technical grade, but not always. It just follows then that coins with nice eye appeal will retain their value.

1jester · November 25, 2003 3:57AM

"I am very interested in if the folks on here are "true" collectors or if it is all for profit potential." --Newbie

Wayne, I think Fairlaneman put it best by saying that most people want to know that their purchases won't turn into big losses, and also that Americans are a bit competitive in most things, so that shows up in collecting too. I don't like when people are overly aggressive about it, but I think it's healthy to be competitive; it's one of America's great "soft skills".

I collect for beauty, history, and for a place to park my money instead of in a boring bank account (most of the money in which, thanks to the fractional reserve banking system, doesn't even exist). So it's sort of a conservative savings plan for me. That doesn't mean I don't consider myself a true collector. I love coins, and have been collecting since I was 6 years old.

cladking · November 25, 2003 5:42AM

I wear more than one hat in this hobby but speaking strictly as a collector:

I don't much care for the term "eye appeal". It is used to many various things
and is sometimes misused in connection with grading. To me beauty is inherent
in a coin which is desirable because of some attribute whether it is rarity, preser-
vation, or simply as a superb example of artistic work or the minters' ability. A com-
mon coin in junky condition may be collectible but is not a coin for any of my collec-
tions. I collect beautiful coins in a wide range of conditions.

A question to all US coin collectors

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