Is It Just Me, Or Does Anyone Else Think This Is Kinda Sad?

cartwheel · February 23, 2006 10:33PM

This is part of the description from a one-time top ten set:

The XYZ Collection of Carson City Morgan dollars is a premium quality matched set of superb blast white and fully struck coins. The set consists of the finest eye appealing coins for the grade and in conjunction with Mr. XYZ, the coins were hand selected and secured by ABC, owner of ABC's coin store.

Okay, I don't think that I'd really call it "sad" that someone's in the financial position to collect this way, and I don't begrudge anyone being rich and successful (there's no "class envy" on my part) and able to collect this way, but a big part of the fun of coin collecting for me is the thrill of the hunt; going to shops and shows, browsing ebay and looking on the BST board, then wrestling with my conscience over buying, for example, at a show a $300 Walker or a $300 Morgan (probably my spending limit for the day). My point is, even if I had lots of dough, I'd still want to be out there searching for and selecting my own coins, rather than having a dealer do it for me. So, I guess my point is that I feel sorry for the well-heeled collector who is missing a big part of the fun of this hobby.

Just my 2c worth!

Cartwheel

MrEureka · February 23, 2006 10:36PM

Don't feel bad for the guy. He might have been climbing Mt Everest while his dealer was hitting the coin shows.

dan383 · February 23, 2006 10:39PM

I agree , sounds more like investing than collecting............

Dan

Hyperion · February 23, 2006 10:40PM

I dont feel bad. The guy probably had 50k that wasn't doing anything and gave it to a dealer who said he could get a total return of 70k on the original investment. more of a financial backer whose name is being as a marketing tool, maybe to dupe the uneducated.

cartwheel · February 23, 2006 10:42PM

Don't feel bad for the guy. He might have been climbing Mt Everest while his dealer was hitting the coin shows.

JRocco · February 23, 2006 10:46PM

I think the difference here may be that someone's collecting goals (take you or me for example) might be to put together a nice set of CC Morgan's in X amount of years. The collecting goal of others (take Mr XYZ in this case) may be to put together a nice set of ALL Morgans and this may just be a step toward his completion. We all have different goals based on our financial positions (except the Saint man who has OCD for sure

As another example, if someone were in the position to try to put together a full set of 19th century pieces, than his buying a nice block (say a full series) is just a step toward his lofty goal.

fishcooker · February 23, 2006 11:41PM

Maybe Mr XYZ doesn't have years to "learn how to grade" - which is so often touted on this forum.

RR · February 24, 2006 12:08AM

So much of this is just a function of how much money one has anyway.

RR

a039 · February 24, 2006 12:43AM

If I had that much money my hobbies would include a Yacht, airplane and just for fun being a slum lord...Coins are and would be one of my many interests. I would be having a blast so do not feel sorry for rich people! Take care, SoCalMark

Russ · February 24, 2006 12:56AM

<< <i>My point is, even if I had lots of dough, I'd still want to be out there searching for and selecting my own coins, rather than having a dealer do it for me. >>

I'd be doing both.

Russ, NCNE

TheRaven · February 24, 2006 1:18AM

If I hit the lotto and found a 100 million+ in my bank account, I would first wake up to the stupid alarm clock, I would attempt to put together a run of all US coins likely..... I would not spend my time putting together a set of Roosevelt dimes or Kennedy halves..... I would have those put together by an expert for me while I was working on the more expensive items and or the items that where of more interest to me.....

Everybody can do there own thing and it is not wrong, that is why it is fun.....

RedTiger · February 24, 2006 1:38AM

Not sad, practical. If the person is high profile that person may not be comfortable being in public looking at coins. Sure the Internet is an avenue, but only after paying some serious dues in terms of time and effort. If a person can make $500 or more an hour, that time spent learning on the Internet is a poor way to spend time. Often times, a person may be so busy that even an hour a week is a serious imposition.

There is the stereotype of the idle rich. However, there are any number of professions where 70 hour weeks are common. If using an agent to buy is the way that this busy person can build a collection, I have no problems with it.

Some people like to play basketball. Some people enjoy coaching basketball. Some like rotisserie leagues. Some people would like to own the team. All of the above can be fine and noble pursuits.

IrishMike · February 24, 2006 1:51AM

I can think of many reasons if I was collecting an expensive set to have a sharp dealer do it for me with my ok on each coin.

1) Wanting to collect the series but fear of being outsmarted by the sharks
2) Anonymity for security reasons
3) Lack of time
4) Spending my time collecting a series I was more comfortable with
5) Maintaining value by having a second set of eyes
6) To avoid an expensive mistake of buying an AT peace dollar.

cartwheel · February 24, 2006 2:00AM

Good points, IrishMike, especially that last one!

PerryHall · February 24, 2006 3:44AM

<< <i>I can think of many reasons if I was collecting an expensive set to have a sharp dealer do it for me with my ok on each coin.

1) Wanting to collect the series but fear of being outsmarted by the sharks
2) Anonymity for security reasons
3) Lack of time
4) Spending my time collecting a series I was more comfortable with
5) Maintaining value by having a second set of eyes
6) To avoid an expensive mistake of buying an AT peace dollar.

>>

7) Access to the sources that have the coins you are looking for.

Is It Just Me, Or Does Anyone Else Think This Is Kinda Sad?

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