How risky is it to use artificial timing methods when making coin purchases?

Longacre · September 22, 2008 11:25PM

Let me explain this one. Longacre likes the slow and steady approach to coin collecting, meaning that I am not very concerned with being an opportunistic buyer. For example, I don’t get bent out of shape if a decent coin comes along, but I am not at the point of making a purchase. So I will pass on that coin, because I tend to buy coins in cycles. Other people take a different approach. They seem to always be on the lookout for coins, and pounce on a coin whenever it may become available. I take the approach that if the timing is not right for me to by X coin when it comes along, then there will probably be Y coin, which is just as good, that will be available when I am ready to buy.

Does anyone take this timing method approach to purchases? Does it make a difference depending on what you collect? For example, is it easier to pass on an MS69 statehood quarter because you know there will be literally tens of thousands of them at the next show, or is it difficult to pass on a coin when you are a collector of die marriages and certain marriages do not come along too often?

guitarwes · September 22, 2008 11:30PM

Not using the Rhythm Method has gotten me in trouble before......

-wes

Shamika · September 22, 2008 11:30PM

"George likes his chicken spicy."

RYK · September 22, 2008 11:30PM

I am not sure about the longevity of this thread, given the title, but here is my approach:

I try to be a combination of opportunistic and realistic. Some of my favorite coins literally had to be bought when offered to me, or else the next opportunity might be years later and several price points higher or perhaps never. If you are collecting scarce coins or unique examples, you have to buy them when available. The more common (or less rare) or generic the coins you are collecting, the more you are in the driver seat in terms of timing your purchases.