Are Rich Collectors Different From You And Me?

FullStrike · September 21, 2008 2:59AM

<< "The rich are different from you and me." -- F. Scott Fitzgerald

"Yes, they have more money." -- Ernest Hemingway >>

Lately the Superdealers claim the Coin Market for quality Coins is just booming along as usual. That is a wonderful Statement, causes me gooseflesh and gets me to feeling all warm inside. But in reality, what do I care about the "quality market"? I never could afford quality, I'm not rich. I buy US Mint Products if I want quality. In the classics I buy widgets and processed wizzed-up, dipped and recolored crap. Of course it's all slabbed but you know what I mean. When I can, I buy CAC stuff, but it still has that wizzed look all us poor collectors know and accept. Of course the elite amongst us are into rainbow toned widgets. And of course they are all NT original Coins.

Na t u r a l l y. Cool names like Battle Creek assure us of that.

Will my collecting habits change during a downturn in the market? Maybe, but I am a Coin Collector and I will be buying some sort of Coins whenever possible. If that means I will pick up fresh rolls at the Bank from time to time, so be it. The US Mint will continue to get the bulk of my collecting dollar. There is no question about the authenticity from them and slabs are not required. If they on rare occasion send me a dog, I have 30 days to send it back for a refund or replacement. Those are terms even a poor slob like me can live with.

Let the elitist Dealers pump and dump quality all day long - I could care less. I'll continue to enjoy the quality and original surfaces of US Mint product - from the website or my local Bank - at face value.

Downturn be damned. I'm a Collector and I collect what I like.

SilverEagles92 · September 21, 2008 3:01AM

I don't know. Ask TDN

tradedollarnut · September 21, 2008 3:11AM

<< I don't know. Ask TDN

>>

I put my pants on three legs at a time just like the rest of you.

Edscoin · September 21, 2008 3:12AM

<< Are Rich Collectors Different From You And Me? >>

Yes, They have more Money!

STONE · September 21, 2008 3:15AM

<< 

<< Are Rich Collectors Different From You And Me? >>

Yes, They have more Money!

>>

Well DUH!!!

BlindedByEgo · September 21, 2008 3:16AM

Define "rich". As in stupid-money-drop-a-mil-without-thinking rich? Why ask? Do you think they might ask "are collectors of modest means different from me and my peers"?

Collect what you like and what you decide to afford. Why worry about socioeconomic differences over which we have little control?

PrivateCoinCollector · September 21, 2008 3:22AM

Wealth is really defined by having all your needs met. Past that, do what makes you happy. No matter what level we all wind up at, just beyond that is another playground with even bigger boys. It is all relative. Ironically by collecting you are also building wealth, and like it or not, a step at a time, are moving to bigger and bigger things. You say you buy mint products, if you had bought Gold and Platinum from the start you have profited handsomely. Not all that is expensive is good, and not all that is good, is expensive.

Thanks for the thread.

bidask · September 21, 2008 7:03AM

Do elitist coins create elitist dealers?

NHSBaseball · September 21, 2008 7:08AM

And do elitist dealers create elitist collectors?

ricko · September 21, 2008 7:10AM

Well stated FullStrike.... Cheers, RickO

garsmith · September 21, 2008 7:15AM

<>

AU58WALKERS · September 21, 2008 7:17AM

I vote "present"

Type2 · September 21, 2008 7:34AM

This is me I need to see if they can holder the fuzz ball.

joeyuk · September 21, 2008 7:58AM

You should see me at my microscope with cent rolls when times are tight. I get great satisfaction at finding a
variety or upgrading a coin in my sons found from circulation sets.

sumdunce · September 21, 2008 8:04AM

I may have to do more "research" to answer this one properly, any volunteers willing to give me enough money to make a million dollar purchase seem like the 100 dollar purchases I make now?

Its OK... I can wait for an answer on that one... presently time rich and money poor

S

lasvegasteddy · September 21, 2008 8:13AM

in general i'd say yes...they are different breeds

kinda strange ones those rich are too

more snobs up high then down low

1% thinks 99% is wrong

99% think 1% is wrong

humility is uncommon in the 1% whereas in the 99% it abounds

as to collecting in income rackets...i know the one i'm in and it will survive fine

CB2597 · September 21, 2008 8:15AM

Im with Ernest...

saintguru · September 21, 2008 8:22AM

What's a rich collector?

Barndog · September 21, 2008 8:23AM

I agree with Hemingway

BECOKA · September 21, 2008 8:47AM

I would assume other than money, no. We should both be looking for eye appealing coins. The rich just do it in higher grade ranges.

cladking · September 21, 2008 8:51AM

Everyone's the same except the rich often fret about the poor trying
to take their money and the famous always worry about the cloying
masses.

We should all count our blessings. Coin collectors just get to count higher
than most others.

TavernTreasures · September 21, 2008 9:15AM

The rich collectors. They don't impress me.

mrearlygold · September 21, 2008 9:17AM

I do business with several collectors who spend hundreds of thousands of dollars a year on their coins, several who spend millions of dollars a year on their coins. One who has spent more than 2 million with me just in the last couple of months and these fellows are much more down to earth than most people who spend a fraction of a fraction of a fraction of a fraction of that.

Type2 · September 21, 2008 9:29AM

<< I do business with several collectors who spend hundreds of thousands of dollars a year on their coins, several who spend millions of dollars a year on their coins. One who has spent more than 2 million with me just in the last couple of months and these fellows are much more down to earth than most people who spend a fraction of a fraction of a fraction of a fraction of that. >>

So your one of them, No just kidding your right I have some friends that bank 5 hundred to 1 Million A mo and will go out for a beer or to the race track with me and not look down on others.

mrearlygold · September 21, 2008 9:41AM

<< 

<< I do business with several collectors who spend hundreds of thousands of dollars a year on their coins, several who spend millions of dollars a year on their coins. One who has spent more than 2 million with me just in the last couple of months and these fellows are much more down to earth than most people who spend a fraction of a fraction of a fraction of a fraction of that. >>

So your one of them, No just kidding your right I have some friends that bank 5 hundred to 1 Million A mo and will go out for a beer or to the race track with me and not look down on others.

>>

Heheh,

Generally speaking its definitely NOT the most well off collectors who are the biggest ball busters.

TwoSides2aCoin · September 21, 2008 9:57AM

Yes they're different than you and me. We are all unique. Not one is alike.

saintguru · September 21, 2008 10:30PM

WHAT'S A RICH COLLECTOR?

ebaytrader · September 21, 2008 10:32PM

<< WHAT'S A RICH COLLECTOR? >>

Good point. They're investors and not collectors.

boiler78 · September 21, 2008 11:01PM

No......... not the true collectors. They just seem to buy more expensive coins.

Most collectors start with lower grade cheaper coins and as available cash increases so does the quality and price tag on their coin purchases. In general don't we all buy the best possible coins within our individual budgets?

If I could afford to offer 15 million (hypothetical selling price

)for the King of Siam set I would own it which I suspect is no different than most of the people that post here.

saintguru · September 21, 2008 11:18PM

<< 

<< WHAT'S A RICH COLLECTOR? >>

Good point. They're investors and not collectors. >>

That's a ridiculous assumption. And you still haven't answered the question.

Is a "rich" collector someone like John J. Pittman who made less than 20K a year while building a world class collection? Is it R. Henry Norweb who was a very wealthy man who , with most of the effort from his wife, built one of the greatest collections in the world? Is it some NBA player who Dwight Manley pumps $20MM of coins into their portfolio when they don't even recognize the denomination? Maybe it's Stewart Blay who chisels granite in his Soho loft for a living? Or perhaps a "Hunt-like" bullion hoarder who covets his 5,000 ozs. of gold?

What's a rich collector?

ebaytrader · September 21, 2008 11:34PM

<< 

<< 

<< WHAT'S A RICH COLLECTOR? >>

Good point. They're investors and not collectors. >>

That's a ridiculous assumption. And you still haven't answered the question.

Is a "rich" collector someone like John J. Pittman who made less than 20K a year while building a world class collection? Is it R. Henry Norweb who was a very wealthy man who , with most of the effort from his wife, built one of the greatest collections in the world? Is it some NBA player who Dwight Manley pumps $20MM of coins into their portfolio when they don't even recognize the denomination? Maybe it's Stewart Blay who chisels granite in his Soho loft for a living? Or perhaps a "Hunt-like" bullion hoarder who covets his 5,000 ozs. of gold?

What's a rich collector?

>>

First, I don't make ridiculous assumptions.

Second, pump a few drinks into an oldtimer and ask about how Pittman build his collection.

Third, I've never known anyone of means that was a true collector in all aspects of the hobby. They are investors first - they always have an eye toward making a buck.

saintguru · September 22, 2008 12:31AM

I think you're all pumped full of drinks, Bob.

Maybe you should be hitting the hookah instead.

NHSBaseball · September 22, 2008 12:33AM

Geez, Louise-
There are wealthy and not so wealthy collectors in all areas. Some approach coin collecting from more of a hobby standpoint, others from more of an investment standpoint. The two are not mutually exclusive.

I would doubt that an Ebay seller such as SeatedLibertyKeys is wealthy, but he obviously limits his interest in coins to an investment standpoint.

From all indications, Saintguru and TDN are men of means who approach collecting from primarily a collector's standpoint- researching their respective series and assembling collections of the best examples they can find.

There are as many different approaches to the hobby as there are personality types- I don't think personal wealth has anything to do with it.

JMO.

TwoSides2aCoin · September 22, 2008 1:00AM

Edited for the faint of heart

<< This is me I need to see if they can holder the fuzz ball.

>>

Incidentally, I see a couple of CircCams in there

Doogy · September 22, 2008 1:52AM

yes - they are not biased toward only one brand of holder like you are.

ambro51 · September 22, 2008 1:58AM

..only when they are NOT sitting on the toilet.

gecko109 · September 22, 2008 2:12AM

To answer St Guru's question is an exercise in futility. The mere terms "rich", "many", "rare", "nice" are all relative and subjective. There is no solid universal defenition of "rich". As an example, my wife and I are fortunate to have 2 very good paying jobs and we gross a little more than $150,000 a year. Are we "rich"? I dont feel rich, but the guy living in a hut in New Guinea sure thinks im rich! On the other hand, St Guru would most likely jump out the window of a very tall building if he woke up with my money. Its simply impossible to define what "rich" truly is.

JRocco · September 22, 2008 6:38AM

Like my father always told me
Whenever you meet a rich guy, just imagine what he looks like when
he has a bad stomach virus....then you will realize that he is no different than you

TwoSides2aCoin · September 22, 2008 6:41AM

Whaddup Snowflake ?

OregonCityGold · September 23, 2008 4:16AM

"WHAT'S A RICH COLLECTOR?"

I shall not today attempt further to define the type of collector I understand to be embraced within that shorthand description; and perhaps I could never succeed in intelligibly doing so. But I know it when I see it, and Saintguru is it.

Are Rich Collectors Different From You And Me?

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