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What is your numismatic dream? And will you be able to achieve it?

Started by AnkurJ,

34 posts in this topic

AnkurJ

AnkurJ

Posted
Posted

For some it may be owning a certain coin in a certain grade, for others it may be helping to reshape an aspect in the hobby.

 

For me, it is having a steady job (key word here being steady) in numismatics that pays the same or more as my current job. Maybe the grass is greener on the other side, but I can see myself doing something related to numismatics as a career. One example of that dream job would be working for the Smithsonian as an assistant curator or something :D

 

Will it happen this life time? Probably not as those positions are far and few and probably go to those already in the museum system.

 

My other dream which may be more attainable is to own a 1792 Half Disme in a decent grade.

 

What is yours? :)

Ankur

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bsshog40

bsshog40

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I don't really think of having any type of numismatic dream as much as I do referring to my collecting as having goals. But, if I put it this way, my goal is to have a complete OGP proof set run from beginning to date, and that, I suspect, is only a dream. lol

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RWB

RWB

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I'd like to find an inventory list of the Morgan dollars melted in 1918-1919, and also a document that tells what happened to 12,000 1895 silver dollars.

 

I'd also like to discover the origins of 1884 and 1885 Trade dollars.

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MJ

MJ

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I want to bounce a quarter off of Jessica Alba's behind. So no. MJ

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AnkurJ

AnkurJ

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Do you have a Visa Black card? I bet with a big enough donation to charity, you could make it happen. But your dos equis might become uno equis.

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BillJones

BillJones

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In a way I have completed my numismatic dream which was to put together a complete type set. I now have all the coins from the half cent through the $20 gold pieces plus all of the "old commemorative" types and all of the "conventional" new commemorative types. I don't have the platinum coins, and I don't collect the First Ladies series and have no interest in those coins. The mint is just issuing too much "stuff."

 

Where would I like to go. Some day I'd like to complete the Charlotte and Dahlonega gold type sets. Further from reality would be a really nice Chain Ameri. cent, but the price gods are telling me "NO!!" on that one. Beyond that I'll have to use my imagination. I've started an early dollar date set and a set of Twenty Cent pieces, but those sets are kind of on hold for right now.

 

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Walkerfan

Walkerfan

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Good question, BTW

 

I would really enjoy being able to have my own numismatics business, someday, and be my own boss. Since I am so into coins and I enjoy them so much THAT would be the logical choice. The problem is that it would be MUCH too risky, especially since I have never bought and sold coins on a larger scale. I have set up a table at a coin show or two and made decent money but I never RELIED on it to put a roof over my head and food on the table. That is a WHOLE 'nother story! The other thing is that I am more of a coullector, by nature, and, if I found something REALLY nice----I'd want to keep it for myself!! lol So being a successful coin dealer will not likely be attempted by me.

 

My second goal would be to have my own collection appreciate SIGNIFICANTLY by the time it is mostly done and then years down the road after that. I have read QDB's book about Eliasberg and how he spent about 400K on his collection and then sold it for tens of millions in the 1970's----That would be nice!! Also, QBD mentions how, in HIS lifetime, he has seen many 100K collections end up selling for millions YEARS later and how a study he performed shows that rare coins appreciate on average by about 11.5% a year---very exciting and, if history is any indicator, this trend will continue.

 

Third--I want to be anywhere from 88-92% complete with my early Walker set. I plan on definitely being, at least, 84% complete within the next two years. I think that I can be 92% within the next 5 years, if the right coins come along. Then I will continue to upgrade and work on other middle to late dates.

 

Finally, my dream coin would, of course, be the 1921-S----preferably in MS 64. I MIGHT be able to achieve that, someday, but that is a very long term goal for me.

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World Colonial

World Colonial

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When I resumed in collecting in 1998, I made a specific list of the world coin sets to complete, some type sets and others full date runs. I have not finished any of them because I expanded them later and never go to completing any of them.

 

It will not happen, but at this time, there are handful of coins from these sets that I would like to acquire. The ones at the top of my list are the 1931 South Africa circulation strike silver and pillar coins like a full run of Peru 1/2R and 1R in AU-MS plus all the 1732 Mexico in any decent condition. In 14 years of collecting these coins, I have seen the 1931 once or twice each and the 1732 Mexico either once or never (excluding the 8R).

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AnkurJ

AnkurJ

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So another question to those who have said their dream will not happen. Is it due to financial reasons or rarity reasons? Or both?

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World Colonial

World Colonial

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To my knowledge, the appreciation rates you cite were substantial even adjusting for purchasing power changes. I consider the chances of anything remotely similar from today's levels for most coins (especially US coins) to be extremely remote.

 

I have been fortunate enough to make those kinds of gains on selective coins and in a shorter period of time, though obviously not to that scale. These were the South Africa Union and ZAR I have mentioned many times.

 

The reason why this was possible is because 1) The coins were ridiculously cheap given their scarcity when I started collecting them in 1998 and still cheap up to about 2002 (for ZAR) and 2006 (for Union). 2) The market was undeveloped so I had an information advantage and was willing to take risks (primarily by buying ungraded coins) that others were not willing to do.

 

As I have told collectors in SA who think otherwise, those days are likely over and I believe the same applies to most US coins. There will still be opportunities to make money in both but people need to realize that the prices cannot perpetually appreciate at rates greater than the income and assets of those who are buying them.

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World Colonial

World Colonial

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So another question to those who have said their dream will not happen. Is it due to financial reasons or rarity reasons? Or both?

 

For me, it is both. It is financial in the sense that I choose not to spend my money that way IF my assumption of the coins I listed are actually worth what I think they are since most have never (to my knowledge) come up for public sale.

 

I have heard of one MS 1931 South Africa Union set in MS from a second hand source but few are listed in the census even though South Africa has the largest census count outside the US and by far the most except for a country like Canada. My Gilboy reference manual includes images of the 1732 Mexico in MS for most of them but I presume they are owned by "old money" just like that 1931 set. Outside of the 1732 8R, I have only seen a very worn 1732 2R (on eBay) once to my recollection and none of the others.

 

If this is correct, I would expect that it would take a very high offer to buy any of the better specimens and that a sale would not occur in a weak market that I expect, unless for financial reasons.

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MJ

MJ

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Die Broke

 

I have either fulfilled or dispelled most of my coin dreams. I like the way MJ thinks. :D

 

 

Nice double entendre sir.

 

As far as for me, it really was the first thing I thought of :blush:

 

MJ

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BillJones

BillJones

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So another question to those who have said their dream will not happen. Is it due to financial reasons or rarity reasons? Or both?

 

Strictly financial.

 

I know a collector - dealer who owns a wonderful 1793 Chain AMERI. It has some scratches, but the sharpness grade is EF-45 to AU-50. I'm not sure it would get a clean slab grade or not although given the way the services net grade early coins, it might. I'd buy that coin in second if it were offered to me at a half way reasonable price, but I doubt that that will ever happen.

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mailman1959

mailman1959

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Assembling the #1 Eisenhower Dollar Set and donating it to The Eisenhower Museum, it will only contain NGC coins so I don't really know if it would be recognized as the "best" set. It is just my personal preference that it be comprised of NGC only coins. My dream part was to donate it on what would have been "his" 125th birthday, Oct 14, 2015. I looked at the museum online and didn't see any reference to coins being in there and thought that a 5 STAR GENERAL and former PRESIDENT worthy of being on a U.S. COIN, should have a set of TOP POP examples for everyone to see. I have just over 3 years to finish it, fingers crossed......MAILMAN

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L1ncolnF4n

L1ncolnF4n

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I'm living the dream, working in the field full time. I guess from a collecting level I'd like to put together a complete star quality set of uncirculated toned type. That's a lofty goal, but seeing as I'm young, it may be within reach before I die.

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RWB

RWB

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I worked in the field when I was a kid, too. Picked beans and tomatos and corn to sell at the roadside table..... :)

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Walkerfan

Walkerfan

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Assembling the #1 Eisenhower Dollar Set and donating it to The Eisenhower Museum, it will only contain NGC coins so I don't really know if it would be recognized as the "best" set. It is just my personal preference that it be comprised of NGC only coins. My dream part was to donate it on what would have been "his" 125th birthday, Oct 14, 2015. I looked at the museum online and didn't see any reference to coins being in there and thought that a 5 STAR GENERAL and former PRESIDENT worthy of being on a U.S. COIN, should have a set of TOP POP examples for everyone to see. I have just over 3 years to finish it, fingers crossed......MAILMAN

 

Mailman---Go you!! That is VERY generous! I hope that you succeed. I'm sure that you will, as it look like you only need one coin!

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AnkurJ

AnkurJ

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For me, this will never be obtainable, but I would love to assemble a complete collection of the finest known U.S. coins and patterns from 1792-1964.

 

Nice to see someone shooting for the stars! :)

On a side note, you could do it without the finest known.

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