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My thoughts on collecting

Started by nwcs,

8 posts in this topic

nwcs

nwcs

Posted
Posted

I posted this across the street but thought I'd share it here. If for nothing else than to just share my underlying philosophy in collecting.

 

Exposure comes before education. You can learn all you want in a book but if you're not looking at a lot of coins that education means very little. Exposure also helps give context to education and can guide you in your collecting.

 

Repeat after me: eye appeal almost always trumps everything else.

 

If you get an opportunity, go to a grading class. It can help immeasurably to hear the rationalizations of the experts.

 

Yes, buy the coin and not the holder but the vast majority of us are not as consistent as a professional grader and haven't been as exposed to as many coins as they have. Their opinions have weight. And since it takes at least a couple to agree to a grade, two experts' opinions generally has better odds than one hobbyist. However, this must be tempered with wisdom and you should never dismiss your gut feeling nor use it as an excuse to avoid learning how to grade. Good quality slabs are an aid, not a crutch.

 

You can't always be definitive about artificial toning but you can sure as heck avoid a lot of it.

 

Being happy with the coin is the most important thing. However some of the advice I've seen that says it shouldn't matter if the coin has problems so long as you like it is only partially true. I think it is true so long as you are aware of the problems. It isn't true if the problems are revealed later and you paid for a no-problem coin. Yes, it does spoil the enjoyment and no rationalization will help.

 

Don't listen to any "experts" who ask for your trust. Do your own research and come to your own conclusions. Avoid the herd mentality. However, when the experts offer their thoughts always have an open ear. They know more than you.

 

Collect in the manner that suits you. There is no law that says you must collect by series, by type, by date, or some other thing. Be totally erratic if you want to or whatever suits your fancy. And that leads to:

 

If you buy well, you can sell well. But beware of buying only to resell unless you're willing to take your lumps in the process.

 

Never be afraid to walk away from a deal a dealer offers.

 

Never be afraid to ask too much for a coin you're selling but be open to negotiation.

 

Never be afraid to ask a dealer if a coin was messed with.

 

You learn a lot by selling what you have to get better coins. It's an invaluable education that separates out the wishful thinking from cold reality.

 

If you don't know how to price your coin when selling, you shouldn't sell it.

 

Look at everything possible before you spend any money so you won't be surprised when you walk to the next table and find something you would have rather bought.

 

[edited for typo, thanks for the heads up!]

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cpm9ball

cpm9ball

Posted
Posted
I posted this across the street but thought I'd share it here. If for nothing else than to just share my underlying philosophy in collecting.

 

Exposure comes before education. You can learn all you want in a book but if you're not looking at a lot of coins that education means very little. Exposure also helps give context to education and can guide you in your collecting.

 

Repeat after me: eye appeal almost always trumps everything else.

 

If you get an opportunity, go to a grading class. It can help immeasurably to hear the rationalizations of the experts.

 

Yes, buy the coin and not the holder but the vast majority of us are not as consistent as a professional grader and haven't been as exposed to as many coins as they have. Their opinions have weight. And since it takes at least a couple to agree to a grade, two experts' opinions generally has better odds than one hobbyist. However, this must be tempered with wisdom and you should never dismiss your gut feeling nor use it as an excuse to avoid learning how to grade. Good quality slabs are an aid, not a crutch.

 

You can't always be definitive about artificial toning but you can sure as heck avoid a lot of it.

 

Being happy with the coin is the most important thing. However some of the advice I've seen that says it shouldn't matter if the coin has problems so long as you like it is only partially true. I think it is true so long as you are aware of the problems. It isn't true if the problems are revealed later and you paid for a no-problem coin. Yes, it does spoil the enjoyment and no rationalization will help.

 

Don't listen to any "experts" who ask for your trust. Do your own research and come to your own collections. Avoid the herd mentality. However, when the experts offer their thoughts always have an open ear. They know more than you.

 

Collect in the manner that suits you. There is no law that says you must collect by series, by type, by date, or some other thing. Be totally erratic if you want to or whatever suits your fancy. And that leads to:

 

If you buy well, you can sell well. But beware of buying only to resell unless you're willing to take your lumps in the process.

 

Never be afraid to walk away from a deal a dealer offers.

 

Never be afraid to ask too much for a coin you're selling but be open to negotiation.

 

Never be afraid to ask a dealer if a coin was messed with.

 

You learn a lot by selling what you have to get better coins. It's an invaluable education that separates out the wishful thinking from cold reality.

 

If you don't know how to price your coin when selling, you shouldn't sell it.

 

Look at everything possible before you spend any money so you won't be surprised when you walk to the next table and find something you would have rather bought.

 

 

thumbsup2.gifthumbsup2.gifthumbsup2.gif

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Hoot

Hoot

Posted
Posted

Superb post Neil.

 

I'll only add, that one should clarify their path with experience, and never be afraid to change your mind. What appeals to you now, may not at a later date. Lucidity of art is a character of degree. If you've followed the rest of Neil's advice, then your rolling interests will serve your hobby sense well.

 

Hoot

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Newmismatist

Newmismatist

Posted
Posted
Neil, I would go so far as to say that eye-appeal trumps everything almost all the time, and that includes a professional grade. Fantastic post!

 

James

 

I concur - Neil has expressed some excellent advice that should be saved and re-read periodically so that his points are remembered

 

As far as James' comment about eye-appeal, I couldn't agree more - I collect toned coins - and I've said more than once - It's all about the eye-appeal - the grade is a distent second

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michael

michael

Posted
Posted

neil what can i say cloud9.gif

 

one of the better threads on here in fact superb!!

 

five out of five stars for me thumbsup2.gifthumbsup2.gifthumbsup2.gifthumbsup2.gifthumbsup2.gif

 

eye appeal is the key as many on here have stated and if you think about it if you got a coin with many superlative qualities then most of the time it has great eye appeal

 

so i think many superlative qualities support hail.gifeye appeal hail.gif

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