The "path" I have taken in my collections/sets needs to be re-thought...

Greetings Collectors,

I have watched a great deal of movies in my life and have some personal favorites. I remember "quotes" by the different actors as many of these stand out in my mind and I have used/borrowed them on many occasions. I have used several in my posts here at the Collectors Society. A few that I remember are ones that I use most often. In the movie "Cool Hand Luke" with Paul Newman, has a classic quote made to him by the prison warden when he said "What we have here, is a failure to communicate, some people you just can't reach". There are many others but I think I have taken more quotes from the movie "Wall Street" than any other film and two that I have used many times have to do with money. The main one was I think said by Charlie Sheen when he said "Money is only something you need, in case you don't die tomorrow". But the main one, and one that is appropriate to this post, was also said by Charlie Sheen to Michael Douglas when he asked, "How much is enough Gordon? How many boats can you ski behind?"

Now that I have taken a break from purchases, (and this time it's for real, unfortunately) I have brought home from the bank, boxes of many of my coins and have been re-thinking the need or justification for having so many coins of the same series, mainly referring to my Franklin halves, but also my Walker halves as well. For the life of me, I can't see the need for #8 1958-D half dollar coins. I quickly added the points of all of those many "extra" Franklin sets, and saw that if those monies were all channeled into obtaining a 1st class set, I would have a set totaling over 50,000 points. That would be a set to be really proud of and one that had most of the dates grading 66 will full bell lines. Heck I could even own one of the very scarce 1953-S issues with FBL. I guess what I'm trying to say is I have decided to rid myself of all but a couple of the coins in my Franklin sets two through six or seven. (I've actually lost track of how many sets I have in that series.)

I have studied prices on these halves along with most Coronet Liberty Gold and know, for the most part, what auction house gets the most for a particular type coin and of course, that one being the last place you want to buy. (because they get such strong prices). I watch all of them from eBay, Teletrade, Heritage, Apmex and others and have found when it comes to selling, your coins will not bring a greater price than they will bring at Teletrade. It is a "very rare" occurrence that I find a decent coin there at a reasonable price. But having said that, if you watch every auction and most every coin, you may find a deal from time to time, but not very often. It also has a lot to do as to when your/the coins are auctioned, as in the "day of the week". To bring the best price at Teletrade you want to be in the Sunday night auction followed by the Monday time, with the Wednesday night venue bringing the least amount "dollar wise". Of course Teletrade has now started a Tuesday auction as well but if you are consigning, stay away from that night, as it is definitely lodged in "last place".

This is going to be very hard for me, as selling any coin is almost "against my religion". But I don't need to have 6-8 examples of one date and mint. And I have exactly that with many of the 1948-'63 date run. I have just this year started a business on eBay and sell mostly jewelry, but have quite a few coins listed as well. Some are very high dollar items such as a 4-coin 2008-W MS-70 gold set along with many other 2008-W MS pieces in gold, silver and platinum, with all being perfect 70's. Each time a coin would sell, I would take the proceeds and put back into other coins so in my mind, I'm not really "selling". If and when these extra coins of mine go to auction, the proceeds will be used for other expenses and I doubt 10 cents on the dollar will be put back into coins and sets I have going. This thought is what really makes me sad. I feel as we are at a point in the U.S. & world economy that if I could just hold out another year or so, each and every "precious metal" coin would bring substantially more money.

But things are what they are, and I have to do what I have to do, so there's not much use in nostalgia or "crystal ball peering". I am just thankful to be in a financial situation where every thing I own is paid for and I don't owe anything to anyone. (and I want to keep it that way) This leaves me with many ways to raise funds, selling my boat or my second vehicle, some of the many antique pieces I own, among other collectibles. What I have decided to do, in the way of these extra coins makes the most sense, as I like everything I own...a great deal, so the liquidation of coins I have 6 or 8 of, is the "least distasteful" of the bunch.

I leave you with a quote from another movie that seems appropriate to the picture shown here, in that if someone were to catch me at that less than 1% of the time that I was to have any coins at my house, it would be a very unpleasant situation for one of us and for the other, (me) I'm not sure pleasant would be the word I would use but it would not cause me to lose any sleep after I said "make my day". (either instrument, the Beretta or the "Cattleman" 44 hog leg would suffice)

Happy Collecting!

WKF