If you were young(er) and new to collecting, which would

[bochiman]

you prefer?

 

A nice, specific and very targetted collection (say, just morgans, or just IHCs, or just Lincolns, etc), or a wide variety (ie....a hoard) of different coins to include most of the main series as well as some boxes (unopened) of moderns, etc?

 

 

For the premise, make a few assumptions (if you can't do these assumptions, then just look from the outside but let those that can make the assumptions answer ):

 

* You are anywhere from a YN to any age but you have never collected coins before.

* You were given, or inherited, the coins.....either the specific series, or the varied hoard.

* You don't have unlimited funds to just go out and buy buy buy

* You have a redbook for learning and can use the internet to do some searching, including finding this forum, but you have done it before.

* No one you know, personally, collects coins, so you are on your own.

* You do have an idea of value of the coins, as who gave them to you (or you inherited them from), had good accounting of the coin/grade/cost/value at the time.

* Coins can either be raw, TPGS graded, or a combination.

* For the sake of this discussion, you can't just sell what you have and turn around and buy something else. If you sell them, you are done with coin collecting.

* The value of the "hoard" and the targetted collection are equal. Difference is that one may have classics/moderns mixed and A LOT of coins, while the other can have anything from 1 coin to a few hundred (some morgan collectors of VAMs may have a lot of them, and many may not be worth that much...same for lincolns, though, to be targetted, most likely there is only 1 of each coin necessary in that series (including varieties if so inclined).

 

Edited out my own thinking as people were fixating on it instead of what I was just asking in general.....I am not looking for an answer to my own situation but rather just wondering what others would think is cooler.

I know, for me, I think it would definitely be getting a total variety of coins. Then I have something to to learn from on a larger scale.

[Walkerfan]

All I can say is that when I WAS younger and I just started my collection was very DIVERSE and not focused on just one series and it was mostly raw coins.

 

So given your scenario---I would have probably done it that very same way.

 

When I first started collecting, there was no such thing as a slab, so maybe if I was brand new to it TODAY, I would have some slabs in my collection but I KNOW that I would definitely be very diverse and have many different denominations and many different series and types of coins.

[wheat'swheats]

I have always been one of those who zeroed in on a specific set especially those that I was told "you'll never complete that" just to see the looks when I did. Due to illness I have had to sell some of my older collections, and have started back on my old favorite with a goal of having an all CAC set. If I were a kid again I think I would do it all the same way I did the first time.

Wheat

[delta]

In teaching a child about collecting, and depending on various factors such as her/his age, financial circumstances of the family, geographic location, and home situation, I would suggest not automatically starting with coins, but encourage/allow her/him to begin collecting anything the kid shows a special interest in, rocks, insects, baseball cards, stamps, postcards, buttons, leaves from trees, etc. I'd suggest teaching the kid some of the principles of collecting as you see them, and especially such things as not causing any damage to items, proper storage and classification, and recognizing the importance of good condition. If the kid develops an interest in coins from seeing you looking at them at home or on the internet, and goes with you to shows, please try to encourage the kid to collect something at least a bit different in focus from what you're doing so the two of you will not be thought of as directly competing, but will be more in the position of potentially helping each other. Best of luck with it!

[BillJones]

All I can say is related to how I collected when I was in my teens. I was very focused on completing a set of Indian cents. I also collected type coins, and finally got some direction the Liberty of Coins type coin albums (There were parts one and two.) that had a lot of holes to fill. I also put together first an eight piece and then a twelve piece type set. Through some luck I had a rather low grade Type II gold dollar, but the Three dollar gold piece was mostly a dream.

 

I had no interest in any U.S. coins dated prior to 1793. The colonial and pre-federal section of the Red Book held little interest for me except for the Pine Tree Shilling because it was mentioned in one of stories or poems I read in a high school English course. The teacher asked me if I had a Pine Tree shilling, and I had to answer, “No.”

 

My interests expanded after I graduated from college and landed my first job. From then on I’ve been on an ever expanding path.

 

 

[bochiman]

Thanks for the comments so far.

I put the comment about my son and I, but I think some people are fixating on that when they shouldn't.

 

I am genuinely curious on what others would have liked to receive, if they received coins before they became collectors. It is only because of my son that I had the question, so I put that in. Anything to do with my son, his collecting, how he will get things, is not relevant.

[bartlesvilleok]

I would focus on learning more. When I was young I thought why buy a book when I can buy a coin. Now that I am older and wiser I see the error of my ways.

[AnkurJ]

I will try with my kids to get them interested in coins when they get a little bigger. But if they aren't interested by their mid twenties to early thirties, I will sell my collection while I'm still around so I can enjoy the money while I'm still here.

 

In regards to your question, if I started collecting again with no clue about coins, I'd want a variety rather than staying on one set. Thus far I've only worked in two sets. More commonly collected sets like Morgans and Lincoln cents bore me to tears.

[Oldtrader3]

My children are middle aged now and have no interest in coin collecting or any collecting for that matter. They would take my collection to the local pawn shop and get $.09 on the dollar for them, if they are lucky. None of my coins are moderns or raw, except for a PCGS, Bicentennial proof set.

 

So, I am faced with two choices: either liquidate before I die or try or deluding myself by preparing detailed instructions as to how to dispose of my coins and believe that they would follow these instructions, instead of going immediately to the pawn shop.

 

What would you do? I vote for selling them before I die.

[Raisethis2]

I think my take should be pretty common.

 

I collected years ago but stopped for about 25 years to raise a family. Then 3 years ago I decided I had time and resources so began anew. I buy anything, will sell anything with the goal being keeping the very best of the bunch for myself and my family.

 

In the end I get to appreciate a variety of coins but the short list of keepers are not for sale until I'm pushing up daisys.

 

I keep a coin management list that should guide my heirs regularly updated.

[delta]

My children are middle aged now and have no interest in coin collecting or any collecting for that matter. They would take my collection to the local pawn shop and get $.09 on the dollar for them, if they are lucky. None of my coins are moderns or raw, except for a PCGS, Bicentennial proof set. So, I am faced with two choices: either liquidate before I die or try or deluding myself by preparing detailed instructions as to how to dispose of my coins and believe that they would follow these instructions, instead of going immediately to the pawn shop. What would you do? I vote for selling them before I die.

 

Yes, of course you should sell them yourself, not necessarily all at once, and even more importantly, spend the money on yourself, in whichever ways will give you some pleasure, even if that happens to involve giving a portion of it to a non-profit organization.

 

But since you asked what would you do, I'd start by selling some here in NGC at The Money Marketplace, where you have full control, and I'd not sell everything, but keep the part(s) about which I'm most knowledgeable, and to which I might still be trying to add items. Then in my last will and testament, or estate plan, I would clearly specify which auction house the remaining collection should go to, and exactly what should be done with the proceeds from the auction. I would make all the precise advance arrangements with the auction house, in writing, including provision for another auction house to be the successor, if necessary, to carry out your wishes. Please don't leave it to chance.

[RWB]

I would target early type coins in the best condition possible, and patterns. But, that's not going to happen, and there's no collection to speak of now anyway.

[Oldtrader3]

My collection is now only worth about 15% of what It was in 2005. However, no one knows how long they may live or what may happen in the meatime. Ideally, my kids would keep the collection that I leave them and would engender some value to the collection themselves because it belonged to me.

 

The 85% of the collection that was sold was spent part in parcel on two of these children's private college education for which they give me no credit or thanks. Since they do not connect and these two children are estranged from me, due to a hostile divorce and a mother with an unreasonable grudge and emotional issues, I have to assume the worst. I think in my case, selling beforehand is the best solution.

[michael]

I WOULD TRY TO COLLECT

 

a variety with every coin different

 

re.

 

colonial type coins and coins that circulated in early america re. pillar dollars the three types

 

and early american federal type coins pre 1840 and also dmpl morgan dollars that have only deep killer ultra deep mirrors and heavy frost date doesnot matter but one from the 1870's 1880's 1890's 1900's

[Oldtrader3]

I have been trying to focus on Mint Sets for the Registry which give some coverage of basic coin types for that era of US coinage. For example, I will pick a year set within an era of coins which I wish to have examples of and attempt to put together a mint set of that particular year (i.e. 1879). This approach gives some coverage of many types of US coins without getting into all of the sub varieties of denominations and date/MM's.

 

The disadvantage to this type of collecting by mint sets is in picking years (i.e. 1879) where there are a number of very scarce and hard to find coins, especially from "S" and "CC" mints.

[Mokiechan]

I would prefer the very diverse set so I could decide which were the most interesting, to me, and worthy of more focus. I think the problem today is the amount of other interests young people have and their strong desire to engage in "cool" activities vice coin collecting. Thank goodness Scouting is still around to offer merit badges and foster interest. I would hate for our hobby to die a slow death like stamp collecting.

 

Malcolm

[Kenneth F]

When my pap passed, I inherited a large batch of Morgan Dollars. When I was a kid, my pap used to talk for hours about Morgans. When I started collecting, I collected everything. If I could go back, I would stick just to Morgans. Ive spent too much money over the years on coins that I had lost interest in, ie mint/proof sets, premier sets, prestige sets, commems, bullion, ect. I can only imagine what I would have if I just stuck to Morgans.

 

Yea, If I could hook up with Marty and Doc, I would take that time machine back.

[Oldtrader3]

All I can say is related to how I collected when I was in my teens. I was very focused on completing a set of Indian cents. I also collected type coins, and finally got some direction the Liberty of Coins type coin albums (There were parts one and two.) that had a lot of holes to fill. I also put together first an eight piece and then a twelve piece type set. Through some luck I had a rather low grade Type II gold dollar, but the Three dollar gold piece was mostly a dream.

 

I had no interest in any U.S. coins dated prior to 1793. The colonial and pre-federal section of the Red Book held little interest for me except for the Pine Tree Shilling because it was mentioned in one of stories or poems I read in a high school English course. The teacher asked me if I had a Pine Tree shilling, and I had to answer, “No.”

 

My interests expanded after I graduated from college and landed my first job. From then on I’ve been on an ever expanding path.

 

That is what I did starting out was building Capital holder sets, putting together a 12 piece gold type set of Coronet $1-$20 and then a Pratt, St Gaudens set, all bu. Those where my first gold US coin purchases. The biggest difference today in that everything is TPG certified now.

 

As for today, I would do the same thing that I did then. Build mint sets of better date dates and MM's which represent eras of design change for classical gold coins in particular. Design transition is always the most interesting area of coin collecting from one type and denomination to another. Buy the best coins that you can afford in the best grades that you can afford.

[mvc-migration]

Well, when I was young, I "collected" anything that was "old". Wheat Cents, Buffaloes, Mercs, etc as that was all I could find in either circulation or given to me. I never tried to finish a set because each series had a coin I knew I could never afford (1909 S VDB, 1916 D Merc, etc). If I were young again and just starting out, BUT I knew then what I know now, I would sell/trade all the common stuff for the keys, of any series.

[FishyOne]

...a wide variety (ie....a hoard) of different coins to include most of the main series as well as some boxes (unopened) of moderns...

 

No question this is the way I'd go, or want a YN to go. You can always specialize later if you want to and have the interest.

 

Funds permitting, spread things out across copper, silver, and gold with a little modern platinum sprinkled in there.

 

Variety is the spice of life.

[CSdot]

I'd probably do exactly what I am doing now. I'd start with Dansco books of series I am interested in, then when I know what series I really want to focus on, I'd do a registry set of that series.

 

For me those series are 7070 type set, Nickel type set, Morgan Dollars, and St. Gauden Double Eagles.