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At a crossroads: Numismatic perspectives, and pointers on collecting
STONE
Posts: 15,275 ✭
Well, as some of you may or may not know, I've started a new collecting focus (without divulging specifics). This new focus comprises coins dealing with mostly foreign nations.
I've been doing research on and collecting these coins for the past two months. Over the course of this time, I've noticed a slightly changing perspective of how I view US coins.
While I have been a stern and focused collector of US coins for the past 10+ years of my life, I was surprised at how quickly a change in perspective's can occur.
Despite knowing that US coins are hyped-up more than most/any other genre of numismatics throughout history, it wasn't until researching the history and values of these foreign coins, that I noticed just how crazy collectors of US coins are when it comes to prices paid for certain coins.
This realization has left me wondering whether or not returning to US numismatics is worthwhile, as I enjoy collecting coins mainly for their rarity, uniqueness, and history.
With world coins, specifically in the era that I am focusing on, most of these coins are quite scarce, but then again not everyone is looking for the pieces I am looking for.
Duh, "supply and demand" dictates a lot on the value and popularity of coins, but price and demand don't really matter when a collector just wants to acquire certain pieces.
That's likely the case for me when it comes to these world coins that I have recently been acquiring. At first I was just purchasing coins to have examples in my collection while not worrying too much about what their value is. This has rarely ever been the case for me and US coins; I'm usually armed head-to-toe in price guides and die variety books.
What's next for me and my collecting prowless?
I'm not quite sure. I'm stuck at a numismatic crossroads. I really enjoy US coins, researching their history, and cherrypicking known rare and sought after varieties.
Then again, this new interest of mine is quite an intriguing adventure into still an abyssmal past that I know very little about.
I will likely continue my main focus of US numismatics, but come out of this new experience a more refreshed and open-minded collector.
Here's some important pointers that I feel need to be addressed:
1) If you really want a coin, throw out the price guide and just go for it. This is how great collections get formed and completed (regardless of popularity).
2) Supply and demand will always dictate the value of a coin, no matter what. Inexpensive coins are valued this way for two reasons: low demand or dirt common (vice versa).
3) Only research will dictate how rare a coin truly is. If research in your area of interest has little information, take the initiative and do it yourself.
4) Make friends, not enemies. Interact with other fellow numismatists who share a similar collecting interest. These friendships will only further increase the knowledge and collecting benefits on both sides of the line.
5) Manage yourself. Don't spend more on a coin than you can afford. Despite what I said in number 1, a little control and patience goes a LONG way.
6) ....
I've been doing research on and collecting these coins for the past two months. Over the course of this time, I've noticed a slightly changing perspective of how I view US coins.
While I have been a stern and focused collector of US coins for the past 10+ years of my life, I was surprised at how quickly a change in perspective's can occur.
Despite knowing that US coins are hyped-up more than most/any other genre of numismatics throughout history, it wasn't until researching the history and values of these foreign coins, that I noticed just how crazy collectors of US coins are when it comes to prices paid for certain coins.
This realization has left me wondering whether or not returning to US numismatics is worthwhile, as I enjoy collecting coins mainly for their rarity, uniqueness, and history.
With world coins, specifically in the era that I am focusing on, most of these coins are quite scarce, but then again not everyone is looking for the pieces I am looking for.
Duh, "supply and demand" dictates a lot on the value and popularity of coins, but price and demand don't really matter when a collector just wants to acquire certain pieces.
That's likely the case for me when it comes to these world coins that I have recently been acquiring. At first I was just purchasing coins to have examples in my collection while not worrying too much about what their value is. This has rarely ever been the case for me and US coins; I'm usually armed head-to-toe in price guides and die variety books.
What's next for me and my collecting prowless?
I'm not quite sure. I'm stuck at a numismatic crossroads. I really enjoy US coins, researching their history, and cherrypicking known rare and sought after varieties.
Then again, this new interest of mine is quite an intriguing adventure into still an abyssmal past that I know very little about.
I will likely continue my main focus of US numismatics, but come out of this new experience a more refreshed and open-minded collector.
Here's some important pointers that I feel need to be addressed:
1) If you really want a coin, throw out the price guide and just go for it. This is how great collections get formed and completed (regardless of popularity).
2) Supply and demand will always dictate the value of a coin, no matter what. Inexpensive coins are valued this way for two reasons: low demand or dirt common (vice versa).
3) Only research will dictate how rare a coin truly is. If research in your area of interest has little information, take the initiative and do it yourself.
4) Make friends, not enemies. Interact with other fellow numismatists who share a similar collecting interest. These friendships will only further increase the knowledge and collecting benefits on both sides of the line.
5) Manage yourself. Don't spend more on a coin than you can afford. Despite what I said in number 1, a little control and patience goes a LONG way.
6) ....
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Comments
I sure found that out when looking for an 1875 Colombian 20 centavos and an 1876 Venezuelan 20 centavos. I got frustrated that when they did come up on eBay (which wasn't frequently), I was always outbid. Some ending prices were 3 to 4 times Krause (which I'd been told was "always high" by some dealers). Why weren't others playing by the rules and only putting in "reasonable" bids?! To finally get the coins I have to forget Krause and pay enough to get the coins. I've seen very few decent ones since I bought mine, so I'm glad I didn't believe the price lists for long.
Obscurum per obscurius
<< <i>
4) Make friends, not enemies. Interact with other fellow numismatists who share a similar collecting interest. These friendships will only further increase the knowledge and collecting benefits on both sides of the line.
.... >>
When dealing with people in other countries it's a good idea to
remember you really are an ambassador for this country.
...When in Rome.
World coins are an exciting area to collect or deal now because
there are so many scarcities that are being recognized for the
very first time. There has never been a strong domestic demand
for most world coins and now the demand is growing exponentially.
Experience the World through Numismatics...it's more than you can imagine.
World Collection
British Collection
German States Collection