The I'm Curious Question For You Long-Time Collectors...

[texasrichard]

After a couple of years now actively collecting (not counting my youth) I've changed from a "shot gun buy everything approach" to a more focussed manner and have 2 different things that I almost exclusively look to acquire now.. my 1853 year set and toned early commems (only of the designs I like).

 

My question for those of you who are long-term collectors is....

 

Once you've focussed your collecting on a particular area or two, what prompts you to change and focus somewhere else? or do you change at all?

 

I'm happy with what I'm doing and have a long ways to go... in fact I don't think my sets will ever be "complete" or "finished"; I'm just wondering if one day I'll wake up and want to collect a different series than I am now? If so, what prompts it?

 

Thanks,

Richard

[TomB]

This is a good question and I can give you my experience. I came back into the hobby in the fall of 1994, which was a terrific time since the coin market was very depressed and had been so for a few years. Therefore, nice coins weren't anywhere near the heights that they are today and the financial mistakes that I made were not as expensive as the same lessons would be today.

 

In the late 1990s, perhaps 1997, I became heavily interested in two niche markets and these were high grade MS, early Washington quarters and spectacularly toned coinage. I did well in both and was an aggressive buyer for the right coins in both until about 2001 when both markets overtook my level of comfort in terms of numismatic value. During this 1997-2001 time period I had also studied circulated Barber half dollars, problem-free, early type and matte proof Lincolns. At the point that I thought that early Washington quarters and spectacularly toned coinage was valued by the market in excess of my valuation I was already knowledgable about other niche areas and was willing to shift my buying focus.

 

Obviously, circulated Barber half dollars, problem-free, early type and matte proof Lincolns have exploded in the last few years and again I found myself valuing these niche markets to perhaps a lower extent than the overall market valued them. I stopped buying circulated Barber half dollars a few years ago and rarely buy matte proof Lincolns, but I will still participate in the problem-free, early type niche.

 

Currently, there are three other areas that I have concentrated on and these areas are quite diverse, which allows me to have a nice variety of coins, and these areas have not yet exploded the way that my previous areas of interest had exploded. I hope to be able to buy at these levels for several more years before the market values these coins in excess of my valuations.

[zrlevin]

Currently, there are three other areas that I have concentrated on and these areas are quite diverse, which allows me to have a nice variety of coins, and these areas have not yet exploded the way that my previous areas of interest had exploded. I hope to be able to buy at these levels for several more years before the market values these coins in excess of my valuations.

 

Which three would those be? Just curious.

[supertooth]

Richard--- Like Tom B, I find that your question is most interesting.

 

Started out as a kid filling the old Whitman Blue books. Got the coins out of change. Then, in the mid 1960's, I got smart. Thought about what was "rare"? Thought about what I could collect that would be pretty valuable and what would continue to be a good investment for years to come. In the end, I thought about either collecting three dollar gold pieces---or CC20's. I knew that, even then, there were a lot of 3 dollar counterfeits. So, I picked the CC 20's.

 

For the next ten years, every "extra" cent went to the gold coins. It was a labor of love---it was my hobby---it was my biggest time occupier. In short, I became almost obsessed with acquiring the very best coins that I could find. Then, in the late 1970's, I had a very special reason to get out----and I sold the gold. In many ways, it broke my heart. But, in one way, it was the very best thing that I could have done at that time.

 

For the next 20 years---for one reason or another--I would NOT get back into it. Then, in the late 1990's, my son decided to collect. I tried desparately to talk him out of it. But, he had the urge. So, I picked my love of my youth---Walkers---and, while my son is still hunting for his niche, I have been for another 10 years concentrating on the Walkers. Like with the CC's of old---I am most dedicated---very patient---have a goal in mind---am determined---have read every book written on Walkers---have looked at what seems like millions of coins and pictures---have become pretty educated.

 

It is what you want to put into it. If you want a hobby with no responsibilities, you can have that. Or, if you want it to be your retirement activity, you can have that. You can spend nothing but pocket change. Or, you can spend thousands. It is all in what you want to make it. You can collect cheap coins. Or you can collect expensive ones. You can really get into a series. Or you can collect what you like in anything that just comes along.

 

For me, I wanted to "finish something". So, with the Walkers, I knew that I could finally finish at some point in time. It was doable. And, I have forced myself to stick basically to those coins. Sure, I buy other coins. But I always keep it focused mainly on the Walkers. I picked what I liked and I have stuck to them. Heck, I would have bought more CC's---except that they were sooooo expensive.

 

I would caution just this: Start out spending very little. Become educated. Then, as you get better, you can spend more. I started out with 30 dollar Walkers in "fine" or better condition. I learned about cleaning, hairlines, dipping etc. etc. They were cheap lessons back then. Today, I buy coins that cost into the thousands---because I am ready NOW----where that would have been a disaster 10 years ago. Wish you the best in your collecting. Bob [supertooth]

[okbustchaser]

I would caution just this: Start out spending very little. Become educated. Then, as you get better, you can spend more. I started out with 30 dollar Walkers in "fine" or better condition. I learned about cleaning, hairlines, dipping etc. etc. They were cheap lessons back then. Today, I buy coins that cost into the thousands---because I am ready NOW----where that would have been a disaster 10 years ago. Wish you the best in your collecting. Bob [supertooth]

 

At last!!! Someone other than me who does not subscribe to the "Buy the keys first." mantra that is shouted at newbies like holy -script. I have NEVER understood why (unless they were going to try to unload themistakes they made when following such advice.) anyone would tell a new person to the hobby to make his beginner mistakes on the most expensive coins in a series rather than on the least expensive.

 

As for my answer to the OP...

 

I started collecting large cents back when I was a kid in the early 60's. These remained my sole focus until I got to the point that the remaining coins needed for my collection were just simply too far out of my financial reach to continue. For some reason the half cents just didn't do it for me so I had to find a different niche. I had a friend who collected these tiny little things called half dimes so I went that direction. After finishing the capped bust baby busties by year along with the drapped ones less the 1802 I again found myself looking for something else.

 

That's when I moved to capped bust half dollars in about 1981. The rest as they say is history.

[WoodenJefferson]

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Beginning my collecting at the very end of the switch from silver coinage to clad, anything and everything made from silver was collected. Bank rolls was one way of getting partially uncirculated coins, but I had to save my allowance, pop bottle refund money, yard raking and mowing money for months on end to get a $10 roll of Franklins. By the time I was getting to the good stuff, others caught on and everything quickly dried up.

 

By then, my interest was Franklin halves and a smatering of Walkers here and there. It was not until my income surpassed my mean spending limit was I able to afford the key date and higher grade Walkers. It was around the early 90's that my interest somehow switched to Jefferson nickels. I had a bunches of circulated Jefferson's culled from change long ago and some Unk's purchased from all places Littleton. I think they advertised in Popular Mechanics but it just might have been the back of comic books, anyway the nickels were still in the celophane when I discovered the tiny world of Full Steps.

 

These full step nickels intrigued me to no end...how can something as simple as getting a Jefferson nickel with a full set of steps be so difficult? Not until you try! There are many dates and mint marked Jefferson where full steps are not the norm...it became a challenge and I love to be challenged.

 

This seemingly innocent challenge was the "prompt" that got me started with a totally different series of US coinage.

 

Believe me, it just happens.

 

~Woody~

[zrlevin]

I would caution just this: Start out spending very little. Become educated. Then, as you get better, you can spend more. I started out with 30 dollar Walkers in "fine" or better condition. I learned about cleaning, hairlines, dipping etc. etc. They were cheap lessons back then. Today, I buy coins that cost into the thousands---because I am ready NOW----where that would have been a disaster 10 years ago. Wish you the best in your collecting. Bob [supertooth]

 

At last!!! Someone other than me who does not subscribe to the "Buy the keys first." mantra that is shouted at newbies like holy -script. I have NEVER understood why (unless they were going to try to unload themistakes they made when following such advice.) anyone would tell a new person to the hobby to make his beginner mistakes on the most expensive coins in a series rather than on the least expensive.

 

I agree with this statement completely. (thumbs u

 

In the last several months, I have expanded my collection to include sets of circulated Walkers and Morgans. I hope to create a complete, well matched set of them someday. I started with the cheaper coins first, to ensure that I did not tire of the series. I now have 9 Morgans, with the most expensive being $23, and 7 Walkers, at no more than $10 each. At these levels, a mistake would only cost a few dollars, as the price of silver is creeping up. Had I bought a key date coin at hundreds or thousands of dollars apiece, I would not only have very few coins in the collection, but I could have wasted that money.

 

To answer the OPs question, I think that collections evolve as the collector re-evaluates the direction that his/her collection is going.

 

In my own case, I began collecting nearly seven years ago or so. I would buy whatever struck my fancy, with little or no organization. I would try to buy coins that I owned no examples of, such as a CC coin or a two cent piece. When I joined the boards, I discovered the type set. I felt that it was perfect for me, and I bought a 7070. I enjoyed filling this book very much, at first with the best coins that I could afford. I re-evaluated my collecting goals and decided to make my set match, in both grade and look. I removed those coins that did not fit and replaced/downgraded them as necessary.

 

As I did this, and performed research on the individual types, I decided that I wished to include in my set numerous types that were not included in the 7070. I began to acquire these coins, but had no coherent way to keep them with the rest of the set. Just recently, a few weeks ago, I scrapped the 7070 in favor of a three ring binder with looseleaf 2x2 pages. Now all of my sets are contained in 2x2 holders, customizable to my heart's content.

 

In short, one's collection grows with the collector. If the collector does not achieve and maintain a collecting focus, their collection will branch in any number of different ways. They will never achieve the streamlined collection of one who has sound collection goals, goals that will someday be accomplished.

[DWLange]

In my 40+ years of collecting, I've tried my hand at almost every field of numismatics, building some nice collections along the way. Nearly all of these are gone now, as it was impossible to collect in one area without letting go of previous collections; there simply wasn't enough money to hold onto everything.

 

While I regret the sale of certain specific coins, the experience gained from owning so many diverse bits of numismatica has truly helped me both personnaly and professionally. I've found that coins can come and go, but the knowledge acquired from their purchase and study has stayed with me. It has also been the incentive to diversify my library, buying whichever books pertained to my current collecting interest. I'm glad that I kept the books after selling the coins. In some ways they are a better value dollar per dollar.

 

I can name people who are more expert than me in specific areas of numismatics, but most of them have only the most general knowledge outside of their speciality. By diversifying, I've built up a good working knowledge of nearly all areas in numismatics. Combined with a love and knowledge of history, these have proved to be real assets in my writing.

[CHABSENTIA]

Many years ago I used to collect Morgans . One of the main reasons was that I loved the look of the coin. When Silcer went to $50.00 I sold them and now I regret it In the nineties my Father who lived in Texas gave me Proof sets from 1968 and Mint Sets from 1970 so I just continued the Sets.When they started with the Stae Quarters I also bought the Proof and Proof Silver Issues of the,.About that time I also began collecting the Silver Eagles both in Proof and Mint.

 

 

I joined NGC last year and began sending the Silver Eagles for Grading and I had been collecting Morgans again.. I like the Silver coins. I have fiished with the Eagles and just keep them up to date. I have at least a Morgan for every year and then a few. I try to get them in MS65.

 

I had bought some Gold Eagles and a few months ago I had them slabbed . They are the Modern eagles. I had also bought some raw Modern Commemoratives from the Mint. I missed out on the 1996 10th Anniversary Eagle so purchased the 20th Anniversary mainly for the Reverse Proof.It graded as a PF70.Each of the three coins in the set is worth more than the whole price I paid for the whole set from the Mint which was about $109.00

 

Most of what I do now will be completing the above sets that I mentioned above as well as trying to cherry pick coins from the State Quarters as well as the Proof Sets from 1968 qnd the Mint sets from 1970. I have almost completed the Kennnedy half set.

 

I also have two tubes of Mercury and Roosevelt dimes that my Father gave me. Some of the roosies are in good shape but the Mercury dimes are fairly circulated.

[physics-fan3.14]

My collecting goals have evolved as I have grown up and learned more. When I first started, I was young and didn't know much. I would buy whatever I liked and could afford, so I wound up with a hodgepodge of everything, nothing really special. Then, when I started college, I discovered the Franklin half, and decided that I really liked them and wanted to build a set of them. I've been working on it for a few years now, and will probably complete it eventually. But as I learned more about coins, my attention has been drawn to darkside coinage. It started when I bought a group lot of Moroccan coins. I like them so much that I decided to build a set of Moroccan coinage, but then, lo and behold, I discovered that they were just a part of a larger set of French Colonial coinage. I imagine that something else might evolve from that, say colonial coinage in general. Who can tell? Follow your interests, buy what you like, and when you find that something different suddenly catches your fancy, don't necessarily disregard it. It might lead you to something very rewarding that you otherwise might never have considered, much like my French colonial set.

[Arizonadesertrat]

I only returned to coin collecting in Jan. 2007, after a 25-year hiatus. I collected U.S. (mid-20th-century) and foreign crowns when I was younger. During the last 10 months, I have sold off most of my U.S. coins (collected earlier), and used the money to buy much more desirable coins (half cents to double eagles). Think quality, not quantity as you assemble a coin collection. I now am collecting Morgan dollars, 19th- and early 20th-century proof coins, and am 2/3 done with a 7070 album.

 

Five years down the road, I will likely focus my attention on early coppers (half cents, large cents) and capped bust halves. Why? My books on early 19th-century coinage are causing me to shift my interests.

 

Buy lots of books, and read them carefully---I have purchased about one numismatic book per week during the last year, and I think that the money was very well spent.

[Oldtrader3]

I was an accumulator at first, buying whatever struck me. Then I switched to raw Morgans, back before PCGS and ANACS. After working for couple years to build complete Morgan "P" and "O" mint sets (in Capital holders), I started collecting Peace dollars. I finished those (3) dollar sets with mostly MS63/64 coins and AU coins for the keys in the sets. Then I bought a new house and sold these sets to use the money for a mortgage.

[World Colonial]

Since I resumed collecting in 1998, I have made slight modifications to my collecting approach but none in the last five. The changes I made between 1998-2003 involved adding a few type sets (if you can call it that since they are really small) and adjustments to some of the grades I collect, some higher and others lower. The latter has primarily been a function of changes resulting from my discretionary income (which has increased) and the relative affordability of the items I collect (which has decreased, substantially in some cases).

 

Everyone is going to have their personal preferences but here are mine, some of which are shared with other collectors.

 

What I collect must be something that I actually like enough to hold my interest. I have selected a handful of foreign series (no US coins) which are a combination of countries where I used to live (South Africa, Bolivia and Spain) and others that I just like such as Spanish Colonial pillars.

 

My collecting goals must be consistent with the economic resources available to me. I cannot say that this is the case completely with what I collect now, but I can live with what I am doing. For example, the Krause catalog lists about 700 South Africa Union and ZAR issues and I originally wanted to buy most of them in uncirculated. Well, that is flat out going to be impossible even though by US standards most of the coins are dirt cheap even though there is absolutely no comparison in the relative scarcity. So I have and will just have to buy some of them in circulated grades such as XF or AU. That is, when I can find them.

 

I need to have enough variety in what I collect. Many of the coins I buy, though not expensive, are almost impossibly difficult to obtain. For example, the Spanish colonial pillars I collect include the Guatemala issues of which I have a grand total of three. The last one I bought in 2004 and though I have seen a few since then, it has not been many because many of them simply do not exist even in impaired condition. So if I did not have other issues to buy, it would be easy to give up. That would be true for most of the coins I buy if I collected them in isolation.

 

I am mostly interested in owning coins that are scarce. The reason for this is that I have no interest in owning something that anyone else can buy if they wanted it. Some examples in my current collection include a high grade (AU-58 to MS-67) mint set (six mints) of the "Lion & Castle" (1796-1824) 1/4 real, an 1892 South Africa NGC MS-64 RB PL Penny (one of three out of about 500 of this date in the NGC census), seven Peru pillar 1/2 real (all in AU-58 or higher) which is seven of the 12 in the NGC census and an 1847 NGC Go-PM MS-61 Mexico Cap & Ray 4R, a very difficult coin to find in high grade if you have ever tried to buy one.

 

The coins must represent reasonable value and have favorable prospects for future appreciation. That is another reason I collect what I buy. Most of the coins I buy I can either sell at an immediate profit or at a small loss. That is not true of most coins generally.

[Jeffrey Cardona]

I started collecting in the late 80's and my collection focused solely on modern proof commemoratives, proof SAE and the annual proof sets. I am still going strong with these.

 

I really enjoy the commemoratives because the subjects they represent are different with each coin that comes out. Some are quite beautiful...2001Buffalo (thumbs u and some are damn ugly....2008 Bald Eagle 50cent

 

I collect the SAE because it is a gorgous design. The Mint did good with these. (thumbs u The reverse proof for the anniversary collection is one of the best coins to ever come from the mint.

 

This year I am adding another series to my collection....ms grade SAE. I just purchased my first one from the Mint and looking foward to getting it soon. I will start looking to back fill my collection with all the ones I have missed.

 

Thanks all for reading my post and best wishes

Jeffrey