Just rambling...quality vs quantity

[RI AL]

Hey, Guys.

 

Idle mind ramblings on the "quality vs quantity" controversy. I'm quite sure that we all have read (been subjected to) the sage advice of those far more knowledgable than I..."buy the best coin you can afford". I got to thinking about that today while raking up the winter debris from the yard and ya' know...I'm not sure I agree anymore. As a long time collector with a short time budget, if I took that advice, I would not be able to enjoy the history, beauty and just darned fun of collecting as much as I do. I would have a heck of a lot less coins because I would be "saving for the best I can afford". As an example, my chain cent is a PCGS Fair-2. It is by far the lowest grade of anything in my collection though

my "minimum standard" prior to acquisition of this coin a few years ago was at least VG. Well, if I were saving for a VG,

1. I would still be saving,

2. I wouldn't have the current enjoyment of the coin though it is just a Fair 2,

3. by the time I had saved enough...the prices have skyrocketed and I wouldn't be able to afford it anyway and

4...I almost met an untimely painful fate from my wife when I told her what I paid for the "old penny" back a few years ago. I doubt that I would be sitting here today if I spent VG money on a chain cent now. She might visit me on weekends in a "home"...on basket weaving day...maybe.

 

We paid off our mortgage last Friday...about 8 years early...(I hate debt) but I know for sure that we wouldn't be able to do that if I "bought the best I could afford". Love the coins, but I love more being debt free.

 

To collectors I say, "if you want it and can afford it now, buy it now"! To investors I say, "boy...I sure would love to be in your shoes" or.....

 

"For investors, buy the best you can afford. For collectors, buy what you can afford NOW because we only walk this way but once".

 

RI AL...back to my padded cell now...but it is 100% MY padded cell!!

[ant]

i have been forced to clear alot of my BIG coins due to buying when i could! i spent alot on coins in 07 and now that im starting my biz i have been forced to liquidate my collection. i am down to verry little but awsome coins. if i would have looked a lil further down road i dont think i would have baught the coins.

 

i have gone to school for, web graphics,gemology, art , auto tech (engines). i knew some day i would be puting these skills to work and should have baught coin according to the future also!

 

i have also been talking with a local dealer that every year gets great deals on silver cause every1 buys right b4 taxxes, then they are forced to sell again cause they need to pay for there taxxes to be done. if they would have thaught they would have waited till tax season was done or known they wouldnt have to sell right away again.

 

very good point make by original post and i agree fully!

[cladking]

I'm a generalists and always have been. I'm far more interested in the big picture than the details. Details can be of interest in the few things I devote attention to but I'm far more interested in how something works than in knowing how to build it.

 

I have the same approach to coins; I want everything so I wind up with one of every type of junk too. This has led to some surprising discoveries and a whole world of fun. For instance I collect transportation tokens. There are thousands of the expensive tokens so I haven't many of them but I've discovered that there were many distinct mintages of most of the very common tokens. Some of these varieties are almost impossible to find in high grade. By putting in the time and effort it's been possible to accumulate many very rare tokens at very nominal cost. They'll probably never sell for a premium but I know they're rare and that's good enough.

 

Buying the best you can afford might mean Fr-2.

 

Have at it.

[James_OldeTowne]

I'm quite sure that we all have read (been subjected to) the sage advice of those far more knowledgable than I..."buy the best coin you can afford". I got to thinking about that today while raking up the winter debris from the yard and ya' know...I'm not sure I agree anymore. As a long time collector with a short time budget, if I took that advice, I would not be able to enjoy the history, beauty and just darned fun of collecting as much as I do.

I heartily agree with this, and have long posed the advice to people - buying "the best" you can afford does not equate to "buy the highest grade". Almost always, the best coin is the one that gives the most bang for the buck. So often, this is simply a middle-grade circulated coin, even though MS-67s are available.

 

The column I recently contributed to CoinWorld makes this point as well.

 

I am so glad you've picked up on this great advice!

[Just Bob]

Congratulations on paying off your mortgage early, AL! (thumbs u I am working on getting mine paid off, and then I will be debt-free as well. I, too, hate debt. (I just wish my wife did!)

[bsshog40]

I agree here also. It would be nice to be able to afford high grade coins, but as a hobbiest and collector, I don't think this is the way it has to be. I fill alot of Danscos with whatever circulated coins I can find. I don't buy a bunch of nicely slabbed coins to crack and fill. What fun is that??? The hobby to me is the enjoyment of collecting. Those that are financially well-off have the priveledge to be able to purchase coins of high grade and value. I am definately not knocking those that have worked hard all thier lives and have been collectors for years, they truly deserve that pleasure. I'm just not into the type that accumulate money and just go for the best to have bragging rights! It's kind of like the yuppies who buy Harley's that don't know anything about motorcycles, but just want to say they have one.

[RI AL]

James-Early U.S...

 

By any chance, do you know what edition of Coin World your article is in?. If it's recent, I may still have my copy of the paper from my "pre-cataract surgery" days...Couldn't read squat for weeks... Anyway, I would very much enjoy reading it.

 

I am really curious as to the "recently banned Wood-Hybernia" story...but have been afraid to ask. I figured you have probably been asked a zillion times and must be sick of telling the tale...

 

Have a good evening.

 

RI AL

[RI AL]

 

Just Bob.

Thanks for your kind words. My wife and I really learned early to pay things off, starting with 5 years of college loans way back in the Medieval era, our first house (which we never paid off but converted it into our current house), never a credit card balance and now the mortgage is gone. I'll tell ya, I'm 57, disabled because of the kideny transplant but feeling pretty darned good about being debt free. My medical history being what it is (seems I won the genetic family lottery...twice...but doing pretty well anyway) paying this mortgage sucker off has been a dream for many years. Though it's less than a week since I wired payment, the stress factor is already on the decline and I recommend it highly, We had a low rate (4.625% fixed) and my "planner" said it was not financially wise to do...but it has been a dream for many years and now...it's done. Peace of mind is more important than a cheap loan anyday!

 

So THAT'S why I am back into collecting music coins and have slowed down to a very slow crawl, the U.S. type collecting. Music coins are cheap...sort of...and beautiful...and some are quite the challenge to locate too.

 

Best of luck in your pay off endeavors. Tell your wife who likes to shop that you spoke to the "pay off expert" and my wife is a convert. I'm ever so sure she will be "wicked impressed"..on her next shopping trip. My wife is a shopper too, but now she's big on sales, coupons and rebates (as am I). When she gets a good deal on some new clothes, because of a sale, she calls it "dollar cost averaging". I have tried to explain to her what the term REALLY means...but oh well...

 

RI AL

[RI AL]

Gentlemen,

 

I thought I would get hissed off the board with my "quality-quantity" post. . I am tremendously enjoying your responses!!!

 

RI AL

[EZ_E]

Love the coins, but I love more being debt free.

 

Very sage advice! Paying off our debts as much as possible is the best thing we can do facing a national recession like we are.

[physics-fan3.14]

Love the coins, but I love more being debt free.

 

Very sage advice! Paying off our debts as much as possible is the best thing we can do facing a national recession like we are.

 

I have enough student loans that paying off debt is going to be my third hobby for a long time. That and the new car I'm gonna buy next week.

[James_OldeTowne]

James-Early U.S...

 

By any chance, do you know what edition of Coin World your article is in?. If it's recent, I may still have my copy of the paper from my "pre-cataract surgery" days...Couldn't read squat for weeks... Anyway, I would very much enjoy reading it.

 

I am really curious as to the "recently banned Wood-Hybernia" story...but have been afraid to ask. I figured you have probably been asked a zillion times and must be sick of telling the tale...

 

Have a good evening.

 

RI AL

The Coin World article is on page 14 of the March 24 issue, and I believe it appeared on-line earlier than that.

 

Regarding the infamous "Norweb Hibernia", you can read a good discussion here and a followup article here .

 

Fun reading!

[physics-fan3.14]

Thanks for posting those links, James. I had heard pieces of the story, but never the full story. As a follow up, did PCGS ever pay you back? How was the story resolved?

[World Colonial]

Yes, this is very good advice.

[TomB]

First off...congratulations on the mortgage payoff! (thumbs u My wife and I should also be fully done with our mortgage by our 50s, too.

 

I agree heartily with James in that buying the best you can afford can have little to do with buying the highest grade. You simply have to have an eye for the best coins for you and your budget.

[RI AL]

Thanks, James_Early US.

 

I'm looking forward to reading both "stories".

 

Have a great weekend.

 

RI AL

 

 

[RI AL]

James_EarlyUS

 

Well, I just both items with great interest. Thanks for helping me to locate them.

 

The Hybernia story is a bit disconcerting. The comments made by Mr. Hall are certainly a disappointment to this collector. I guess sometimes, we all get swollen heads, and hopefully he was just having a "bad day". I remain confused about the "Banned" part. Is there a final resolution to this?

 

I did actually miss your article in Coin World (March 24, "Be Fair to Doctors, 'Grade Craze' the Cancer-Causing Agent") but have just finished reading it. I think I am at the "low end" of a middle class collection but it gives me great pride and enjoyment none the less, as for you and your collection. My original point in this thead was essentially, collectors do it for the joy of collecting, and investing is for investors. I was pleased to see that we agree. I guess I am CONFIRMING "buy the best that you can afford"....but just don't wait and save for years to do it...you'll miss out on the fun.

 

RI AL