Wow! What a year full of education ... by wdrob

[CSJournals-migration]

It has been close to a year now that I first became involved in numismatics. I was buying and selling gold and silver bullion prior to becoming intrigued by the coins that I saw being bought and sold on eBay. It was not so much the buying and selling that intrigued me as it was the history involved with these coins.

 

It was not long after discovering this hobby I decided to become involved and it has been a year, or close to it, in which I have bought many coins, both raw and certified, and dabbled just a bit in the paper currency arena. I have learned a great amount from other more experienced collectors but I would have to admit that the tuition I have paid in various bad purchases and other mistakes has been steep.

 

On the other hand, I have enjoyed this hobby very much. There are many aspects (such as the hunt and eventual find of a piece of history that brings me immense satisfaction) that I am going to have to go through some sort of withdrawals (similar to that of a drug addict stopping cold turkey) by putting a end to my purchasing any further coins until I have sold my entire collection in it's entirety.

 

I plan to take a short break and really evaluate what I like the most about the coins I have collected up to now and re-focus my goals to a reasonable series to collect when I resume and direct my collecting goals to putting together a truly high end set while taking my time to save so I will not have to settle for just any coin.

 

I have to wonder just how many other collectors out there have chosen to step back, re-evaluate collecting goals, sell their entire collection, and start over from scratch?

 

See more journals by wdrob

[Six Mile Rick]

wdrob,

I would say in only a years time ---- it seems you have a nice start on some great sets!!

 

In the future -- add pics to your journals and show off some of that OLD GOLD!!

[coinsbygary]

wdrob,

I would say in only a years time ---- it seems you have a nice start on some great sets!!

 

In the future -- add pics to your journals and show off some of that OLD GOLD!!

 

I concur with Rick. After you decide which way you want your collection to go, you may find a few of the coins you already own meet your new goals and objectives. I know for a fact that it is much more expensive to sell a coin only to buy the same one or a similar coin all over again.

Whatever you decide to do, I wish you the very best.

Gary

[mkman123]

sometimes when you go in full force you get burned out. Step back and rethink what you want to do and most of all, have fun

[RWB]

The more you learn, the greater the need to step back and evaluate what you want and how that can be attained. As you have noted, mere acquisition is the beginning.

[jgenn]

Many of my early purchases (and few recent ones) were not of great quality. So the main lesson, from my mere three years of collecting, is to learn to distinguish the factors that make for satisfying acquisitions -- those that I will be happy to keep in my collection for many years.

 

I started with a narrow focus on certain 8 reales series so I can't really comment on how others feel about changing their focus. However, I can say that the desire to explore other types of coins is irresistible. My current struggle is in limiting my purchasing of "just one type specimen" of other silver dollar sized coins from the 16th-19th century.

 

You have much more experience in the selling side than I do, so I expect, and sincerely hope, your transactions will be profitable and problem-free. I'm always interested in hearing about the selling experiences of my fellow collectors, so I hope you'll post often about them.

 

~jack

 

 

[wdrob]

All of you make very valid points and worthy of consideration. I still have a burning desire to get on the road in the motor home, as soon as my youngest starts college, and that day is coming closer. I could not talk my wife into leaving yet.

 

So what I am thinking is I am going to take the approach of "the box of twenty" mentioned here and on other forums. Then I will not have to worry about the safe not being under guard in the house and I can then realistically place the collection into a safe deposit box at one of my banks. As it stand right now I could not even begin to do that.

 

There have been so many coins, with such outstanding history related to them that I found it hard to not see a new series, read about it and the historical significance in American History that is was coined, and not eventually want it. That is where the stepping back and deciding on a box of twenty comes in.

 

I may have some nice examples of some of the possible coins for that box but I think I can do a better job the second time around. I will have much greater time, and a much more conducive environment to read and learn more about numismatics while on the road seeing America for a second time around, but this time not while working.

 

But, I can't predict tomorrow. I can only prepare. To paraphrase a certain song; "If you want so see God laugh just tell him your plans."

 

 

 

 

[wdrob]

You have much more experience in the selling side than I do, so I expect, and sincerely hope, your transactions will be profitable and problem-free. I'm always interested in hearing about the selling experiences of my fellow collectors, so I hope you'll post often about them.

 

~jack

 

Jack, that 8 Reales will be one of the box of twenty without a doubt in my mind. Your collection has been fantastic to watch you build. That coin played such an important part of early American history I do not see how it could not be in the twenty.

 

As far as selling goes; I will loose money just as I always do in the end. But that is not a problem really. I enjoyed the hunt, the collection, the history, and for of all that, one has to pay a price I guess. At least I know I do. Even amongst any of the selling I have done it has always been just to support the continued acquisition of future coins. I could never be a dealer. I don't have any of the fine qualities that would take.

 

 

 

 

[RWB]

Consider several boxes of twenty. Each from a different country or aspect of world coinage...after all you have only 2500 years of coinage to choose from. With each box of coins think of ten books that explain the coins you want for your box of twenty.

 

Interest, history and quality come first - financial profit will eventually flow from what you learn and how you train yourself to understand more and buy less.

[wdrob]

I must admit Roger, I am not nearly as interested in World History as I am American History. However, I do understand that one can not fully understand American History without touching on World History to some degree.

 

I wonder just how many of those NGC slab boxes a safe deposit box will hold?

 

 

[RWB]

American numismatics offers a lot to choose from, consider:

 

Box of 20 - pre-Federal period

Box of 20 - early Federal, coins in the common man's pocket

Box of 20 - Federal, silver & gold

Box of 10 - Commemorative silver & gold

 

Just a thought.....although this is pretty ambitious.

[wdrob]

wdrob,

I would say in only a years time ---- it seems you have a nice start on some great sets!!

 

In the future -- add pics to your journals and show off some of that OLD GOLD!!

 

Rick, in my opinion the finest one that I have was through a trade with another CS Member and is a AU58. I think the coin looks just about perfect for a Almost Uncirculated piece.

 

 

 

But the 1908 'Motto' is not too bad either.

 

 

 

 

 

[Catbert]

wdrob - I think it is very common for a collector to shift gears or focus as one refines one's interests. I've headed in different directions before, but now am content with slowly building a type collection. In fact, so slowly that I could also call it a box of 20!

 

The key is to enjoy your journey and be selective so that you'll increase your satisfaction. Good luck!

[jpcienkus]

Bill,

 

Love the $10 dollar Indian heads. The 1907 No Motto appears to have really nice luster. The 1908 must have a small rub on it. It looks very clean and I can't imagine it grading MS61 without it being a slider.

[wdrob]

The 1908 must have a small rub on it. It looks very clean and I can't imagine it grading MS61 without it being a slider.

 

Joe,

I thought it was rather clean for a 61 as well and bought it using the advice of the much more experienced here as they always seem in consensus recommending one to buy what you think is high end for the grade. It looks much better than most of the other 61's I have I believe.

 

Catbert,

I am looking forward to it and am glad to hear others do re-evaluate their collecting goals from time to time. I will just have to wait and see just how much of a loss I will take by liquidating everything and starting over. If it is to steep then I may have to take others advice here and keep some of it.

 

If I were to have spent $80k during the year (and I am not admitting to spending that much last year .... although the money went somewhere according to eBay) focusing on a box of twenty I think I would have had an impressive and very satisfying start.