How Often Do You Analyze Your Collection?

[TomB]

This is something I believe many folks never get around to doing, and I think it can negatively impact their overall collection. I try to do this at least twice a year for my own collection, and I just did it a week ago.

 

Ten coins ended up coming out of the safe deposit boxes at my bank and eight of those coins sold immediately at the Parsippany, NJ show that I did on Sunday. I keep detailed Excel spreadsheets of all my numismatic information and also have high resolution scans of all my slabbed coins. The coins themselves are in the bank. In this way I "look" at my coins from home fairly often, although I physically go to the bank to see them much less.

 

Analyzing what it is you have, how much you are into them for, where you want to go and how you are going to get there can be daunting. This is likely why many people either don't attempt or don't finish the task. However, having a clear numismatic plan can help you immensely.

 

Currently, I have thirty coins at the services. Upon return, there will be another round of analysis and likely many coins will be offered. I think it allows me to share some cool coins with others, to briefly own other cool coins and to have the flexibility to embrace a certain level of risk or extension. I would highly recommend going through your collection with as critical an eye as possible.

[andy007]

Good subject post here Tom. I was nearly negligent of ever looking through my collection up to two to three years ago. It was just a matter of accumulation, and was really getting out of hand when I decided something needed to be done. Out went the boring moderns that I had no interest in, and the coins that stayed were the original, no problem classic coins for the most part. To really answer the question posed, I would say I look back through my collection every few months now on average, sometimes(like lately) it has been on a weekly basis, and other times it will be 6 months between.

 

The main emphasis now is compiling a true collection, rather than just an accumulation, which can be very easy to wind up if careful thought and analysis aren't in place.

[spy88]

Tom, excellent post and I am sure not too many of us think about on a consious level---just when the urge hits.

 

Personally, since I collect only raw Jeffs, I am on top of them almost daily. Looking to up-grade, looking for nicks, hits, scratches I may have missed, etc.

Considering the present grades of most of them, I am sure that they are worth well over $10,000 (including all the seconds and third graders). Would rather keep at home so I can peruse at my leisure. A risk, I know, but without going into any detail, I feel confident they won't be going anywhere, except to NGC for grading (eventually)!

 

David

[sanmary]

Excellent post, Tom. I try to evaluate and "cull the heard" twice a year, but at least annually. I do not like to look at my coins too frequently as this for me makes my coins lose some of their 'pop'.

[jtryka]

Man Tom, what a guilt trip! I admit I have horrible records, few scans, but at least I have a list of what I own in slabs (raw coins are anyone's guess). I don't know how much I have in them, and I am not sure I care. To me, I don't need a plan, nor do I want one, I don't know where I am going and I like it. My collecting is sort of like driving on US highways for vacation and stopping at Yosemite, Yellowstone, Mount Rushmore, and the world's largest ball of string. I may never get to where I am going, but I sure am enjoying the scenery on way.

[spy88]

Very well analogized, Jeff! An open itinerary is just the opposite of Toms but there is a lot to be said for it!

 

Make sure you do not miss the worlds largest thermometer in Barstow, Calif. (most impressive during the summer when it reads over 110 degrees!) on your way to Vegas!

 

David

[EVillageProwler]

TomB,

 

I keep a very detailed excel spreadsheet. I also have digipics of nearly all my coins. I know exactly what's going on regarding my coins.

 

EVP

 

[bigmoose-migration]

Excellent post, Tom! It is always an education for me when I decide to pare down and sell a few of my coins. I recommend selling some coins every now and then to everyone, as it is a good check on whether or not you have been buying true quality coins.

TomB, could you please analyze your collection again, around a week before the next Parsippany Show in March, so that I can buy a few of your coins?? TomT.

[goose3]

I usually find myself going through my coins each time I am considering making what I would consider a sizeable purchase. I look for coins that I am no longer interested in or coins I bought on a whim and generally sell them and tell the wife......"I sold some to pay for this new one honey"

[toyonakataro]

As I don't have much expensive coins, I keep all of my coins at home so far.

I can look at my coins any time I want to.

But as the security of my country is getting worse, I have to consider about bank deposit someday in the future.

It would be painful for me to keep them in the bank deposit because I'm too busy in the day time to frequent the bank...I might have to start collecting cheaper coins like modern coins from circulation.

[jom]

Good job, Tom! I have an Access database of all my coins. Even the ones I've sold in the past. Who I bought (and sold) them to. How much I paid (and sold). Where I bought (and sold) it. In fact, the database is "programmed" to allow little forms to be used like those coin collection applications used. I've worked on it little by little over the past two years or so.

 

I've got pictures now of all my slabbed coins and even a few of the raw ones. I still need a take a pics of my Jeff's and Ike's but I don't have the time. Maybe I'll pic out a few of the nicer ones...

 

jom

[chinook]

I went through my collection about six months ago. I ended up selling about 1/4 of it (in terms of number of coins). I didnt really keep a detailed database and realized I had many in which I no longer had an interest or just didnt fit.

 

I do have better focus now, but I will be selling about another 1/4 or so in the next 6 months. I want to focus more on my type set.

[Fairlaneman]

Even the ones I've sold in the past. Who I bought (and sold) them to.

 

Do you also keep the address, telephone number and finger prints of the buyers ?

 

Hmm....

 

Ken

[jom]

Do you also keep the address, telephone number and finger prints of the buyers ?

 

Yes, do you have a problem with that?

 

jom

President/Director CIA

 

[Fairlaneman]

Do you also keep the address, telephone number and finger prints of the buyers ?

 

Yes, do you have a problem with that?

 

jom

President/Director CIA

 

 

As long as the coin is superb I can live with that because two of the three will be history after the deal is made.

 

and it Will Be Made...

 

Ken

[BillJones]

I think about my collection all the time, but I don't go though the process that you do, TomB. My basic goal is get as many type coins as possible from copper to gold. I've got all but one of the major silver types, but as you can see from the quality of some pieces, there is room for improvement. This past year the only type that I added was Reich's Capped Bust $5 gold, an 1811. A couple of years ago I bought a High Relief $20 gold. All the rest were upgrades.

 

I don't sell anything until I have a replacement. The "bad" coins I have don't agrevate me that much, and I really don't want to be in a position where I must end up doing without anything. I keep and eye out, and if I buy a coin that I can afford to spare it from the business, it knocks out the one in my set, and takes its place. Usually the reject sells very quickly even if it has problems. And usually the problem coins get sold to dealers who specialize in that sort of thing. Most of them do look OK, even if they are "pigs with pretty bows."

 

One thing about, when I make a list, I often stick to it and finish it. Years ago I wrote out a "wish list" of coins that wanted even though I had no idea how I could afford them. Years later I ran into the list, and surprise! I had acquired EVERY coin that was on it, including an early $10 gold and decent Chain Cent though either purchaes or trades.

[Leothelion]

I did a little analyzing of my collection the other day! After a rash of burgulars in the neighborhood and a bit of paranoia, I went and bought a 135lb safe! and no kidding! After I loaded that baby up, I'm guessing it now weighs close to a couple hundred lbs.

 

Leo

[Oldtrader3]

Every time that I look at my "Coin Elite" software coin list, it makes me wonder what in the hxll I am doing, what was I thinking etc.? I have about 300+ TPG (PCGS/NGC) coins, of which 1/3 are complete or incomplete series that I no longer have interest in, nor intend to continue collecting. The question is: how to best dispose of these coins. Most are nice specimins, many are relatively high grade MS, clean, 20th century coins or sets. Some are duplicates. I am sure that many collectors would be happy to own them.

 

I think that I need to focus on finding a reasonable sale venue for these coins. Some are auction quality (US gold Eagles etc.). Many are not, mainly because of modest price. I do not care much for Ebay, because of too many problem buyers.

 

I live in Bellingham, WA, which is certainly not the coin dealer capital of the world. I have been considering this for awhile and have not reached a satisfactory solution.

[Hoot]

Charlie - Call Rick Bagg at American Numismatic Rarities. They are very kind and their auctions are doing quite well.

 

Hoot

[spy88]

Charlie, I know Bellingham well---and you are right! Not exactly numismatic heaven! I've lived in Toppenish, Yakima, Renton, Bainbridge Is., Vashon Is., Auburn, Tacoma, and West Seattle.

 

If you just happen to have any FS Jeffs, I might be able to give you a hand with "cleaning" your collection!

 

David

[Fairlaneman]

Charlie

 

Is there any place in the Northwest that is the coin capital of the world ? If you find it let me know.

 

Anyway have you got any Mercs ? Early dates I would be interested in. Of course I would take the bad with the good and not just cherry pick the early stuff.

 

Another option is Aurora Coin which I believe is in Everett, WA now. I have never sold anything to him but have bought some reasonably priced coins from them. Outside of that I know of no other Dealers close to you.

 

Ken

[sanmary]

I also would be interested in some Mercs and I endeavor to complete my Gem set.

[Chippewa]

I just did about almost 20 sales on EBAY for the first time, resulting from some pruning of lower graded coins and duplicates. It was kind of fun but a lot of work to clear about $5,000, and lose over $1,000 from my cost in the process. I found I did okay on the lower grade gold but not so well on higher grade commems. On this batch of coins I think I did at least as well as if I had put them through an auction.

 

The next big decision is whether I want to build a silver type set or sell the pieces that I have. I find the 15% buyers fees a mental barrier to putting things in the auctions.