Minimalist Collecting posted by Numinimist

[CSJournals-migration]

Minimalism hits Registry Collecting.

 

I know I'm not the first one that's needed to downsize a collection. I have figured out that enjoying this fabulous hobby doesn't demand that one be super rich.

I've replaced sixty-something coins valued at $100,000 with twenty-three valued at less than $5000. Yes!...a 95% reduction.

I believe one can have a terrific collection, yet not spend a fortune. It will mean, for those competing in the Registry, much lower rankings. So what! It's not only about keeping up with collector Joneses. It's about enjoying your collection. Really...most people don't care about your collection, nearly as much as you do.

For my purpose, I won't be collecting in Circulated Coins Only. It is a great alternative; however, I enjoy owning some low-cost Gem and Choice Uncirculated coins. Some Twentieth Century Types are a bargain in MS 65 and MS 66. In some cases, AU, is a fantastic alternative when MS 63 or better is too expensive. In other cases, a quality VG (or even a G 06) to VF would allow the Early Types to be affordable.

I will be writing about this concept. I hope if you might be a minimalist, you will enjoy this perspective on coin-collecting.

 

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[RichH]

So you are the "Numinimist Numismatist" !!

 

I think I am probably a Numinimist in waiting. When the time comes to sell my existing Registry collection , I would forsee staying active in the hobby by continual reading and also by selecting sets that fit a reduced budget.

 

I recently came upon a French 1850 50 Centimes in about XF and was blown away by the sheer artistry of the coin. Certainly wouldn't mind finding and studying coins in this price range and grade down the road.

 

Much continued success !

 

Rich

[#]

Ok I guess I'm in your camp; I thought it was narrowing my focus but no it minimalism. I've been fortune enough that I can approach coins & currency as a true hobby not an investment. But last year the dollars started adding up so I tried to cut back to just my GSA's and 1879 MS & PF sets.

Got rid of over half my collection and it was painful, thus I knew I had a problem. It's much more enjoyable now searching for a few key coins versus trying to keep with multiple series. I did put up an Eagle set but with 69's only.

David

[vumc409]

I have started Barber and Seated quarter sets using this very approach. I love the designs but can't afford pristine quality. I have a few Barbers in my set but haven't pulled the trigger on any Seated yet.

 

Good luck and here is to the future for all of us!

 

Michael

[mvcoins-migration]

Hi,

 

I humbly disagree. Part of the game and the fun is putting together the finest collection of coins possible or that you can afford. I would argue it is better to have one to two extraordinary coins than a vast number of lower grade common coins. In the end the value is in the extraordinary coins when it comes time to sell. The problem with low grade common coins is that just that. They are common and low grade and not worth much in the end. I suppose it is a choice. I choose to buy the best and enjoy their beauty. We'll see who makes out better when it comes time to sell

 

Regards,

 

MV Coins

[Walkerfan]

You gotta do what you gotta do---Me? I'm gonna buy the best and nicest that I can afford.

[jgenn]

Hi Numinimist,

 

I certainly agree with your comment that nobody cares about your collection more than the collector. My initial minimalist decision was to focus on one series with a defined date range. As much as I have enjoyed tracking down as many coins in that range as possible I now realize that many of these scarce but low grade coins will not appreciate much. I have several coins in F, VF and XF that are the only graded examples and I expect to hold them for many years. I notice in the 6th edition KP catalog of 1701-1800 world coins (just released) that several series that I follow only appreciated in XF and above and some did not increase at all.

 

~jack

[vumc409]

While some disagree with the original concept of the post, I think some are also missing the main point of the post - "...enjoy collecting...".

 

I can see two sides of this from my perspective.

 

One is, I feel the objectionists belong here, we have a group that collect mainly for the financial gain and likely collect a lot of 19th and 20th century silver and gold. Building the best possible set obviously puts money in your pockets over the long haul. While I am sure you still enjoy each and every coin, your main motivator is cash, maybe along with a little bit of the competitive spirit of the registry.

 

Two is the collector that collects on a minimal budget and is proud of their efforts and truly enjoys each coin, what I call a hobbyist collector. Simply put, this type of collector can not afford to have the top pops and in many cases the second pops in their sets so they settle for a lesser grade.

 

Perhaps there is even a third category for collectors somewhere in the middle.

 

I, for example, would fit in that third category. Most know I have the #3 set of Lincolns 1959-Date and I am VERY proud of that set. I have sacrificed many things to have this set but it IS NOT for making money some day in the future. It has been put together for enjoyment and hopefully keeping it in the family for a very long time.

 

On the other hand, like I mentioned in another post on this topic, I have created three quarter sets (Barber, Seated, and SLQ) because I like the designs but can come nowhere close to owning even top mid grade coins (AU and up). So I have chosen to collect mainly VF coins in these series and that is going to be a stretch for many key dates in the series. Again, the main goal of these sets is to finish them and enjoy them, no high grades necessary!

 

The same goes for the rest of the US Copper coins. Collect what I can afford and come as close to possible in completing the set. Why? Definitely not to make a buck, but because I love all of the copper designs.

 

These ramblings are purely my opinion and mean no disrespect to anyone. I think the main thing here is for each of us to enjoy what we collect, no matter the dollar value.

 

Michael

[Walkerfan]

I agree with you, Michael. Enjoyment is the PRIMARY function of collecting. So maybe, if you put your resources into a MAIN set or project, then there is still some great enjoyment left in collecting lower grade secondary sets just for fun. I am sure that I don't speak for everyone but I CANNOT put a price on the pleasure and enjoyment that my coin collecting has given me and that is the MAIN THING for me. You can still have A LOT of fun regardless of your budget and there is plenty to learn and ENJOY.