I disagree with WKF, and here's why...

Firstly, I would like to just say that I really love the Journals on NGC. I love reading them, I love hearing other people's opinions, and I am glad to be a part of this forum. However, that doesn't mean I have to agree with everything said or everyone posting here, even if they are my "elders". That being said, I'm offering below only a few counter-thoughts to those offered up by WKF in his post.

------------------------------------------

WHO IS A COLLECTOR?

I mostly collect (yes "collect") modern coins for many reasons. For one, I can afford them. Secondly, I don't care how many total coins were minted (millions, billions?). I care about finding that specimen coin that is the best of the series for a given year and/or mint mark. Thirdly, I don't care what point values NGC assigns to my coins in the registry, because I don't collect for NGC, or to brag, or to be #1 in a certain set. I mainly use this website because they offer great collection management tools, their customer service is stellar, and because I enjoy the community.

WKF offered up an un-named example of someone who he does not consider a collector, because he/she had multiple sets of all modern coins just to attain more registry points. I agree that it makes no sense why someone would want 10-20 Proof sets of the state quarters. But, similarly, it makes no sense to me why someone would want 500 Silver Eagles all dated 2009. This behaviour is what psychologists call "hoarding". In closing, I note here only that WKF has 9 listed sets of Franklin Halves and often posts pictures of bulk purchases of many duplicate coins. Apparently, this "hoarding" is justifiable as "collecting" because the coins happen to be made of some fiat metal (silver or gold).

In summary, I think a "COLLECTOR" is someone who would acquire, examine, study, admire, and cherish the beauty of coins EVEN if the registry didn't exist. If you hoard fiat metals because of some fear of the "end times", then you are one of two things: an investor or a lunatic (or both).

I appreciate the advice of my elders. But, I refuse to collect only silver and gold coins. If you want to invest in silver or gold, then buy bars. If you care about art history, the coinage process, the examination of detail, and having a discerning eye, then be a numismatist. If these coins so happen to be made of silver or gold, then so be it. If not, then so be it. For those of you who can't figure out what you are, think about it this way -- if silver and gold prices BOTH dropped to $5/oz tomorrow, would you still be excited about the hobby? If not, then you are probably not a "collector".

As a disclaimer, I was born 15 years after 1964, so my opinions may be of questionable value! :-)

Just my 2 cents...happy collecting (or hoarding)!

To see old comments for this Journal entry, click here. New comments can be added below.