Do you have a direction in the hobby? 1 1

[ldhair]

After 57 years in the hobby, I'm lost on what to do next. I just retired from a really cool job I have had for 40 years. It was a fun ride. Never thought much about what I would do when I reached this point in life. It may be time for me to stop buying and start selling. Can't really find a different direction to go. 

[Henri Charriere]

What are you suggesting? No Back on Track?  Didn't you read the fine print at the bottom of the life-long contract you signed?  When's the last time you heard someone say, "Oh that?  We got divorced." Never happened.  This hobby (some say infatuation) is no different from street gangs with shot callers (quaintly called moderators trained in de-escalation tactics). It's blood in, blood out. What happened?  You found a good candidate for your long-running thread?  That was what defined you and gave you your identity and life's purpose. Face it, you're in too deep to turn back now. You're a household name. That's your legacy. As Archie said to his wife:  "You done good Edith. You done good."  

[RWB]

Well.....Would research, or even transcription, be an option? Few do any of this, yet knowledge gained is fundamental to understanding.

[Zebo]

On 5/3/2023 at 8:15 AM, ldhair said:

After 57 years in the hobby, I'm lost on what to do next. I just retired from a really cool job I have had for 40 years. It was a fun ride. Never thought much about what I would do when I reached this point in life. It may be time for me to stop buying and start selling. Can't really find a different direction to go. 

Depends upon what you want to do or accomplish in retirement. There will be a work void, but it will also open up many possibilities that you never had time for or even thought possible. Staying interested and learning is key. Whether it is travel, or anything else - stay occupied and active. Research is a wonderful and satisfying pursuit as is many other activities such as volunteering. 

One question is what do you want to do with income you receive in retirement? Pass it along to family or charity, maybe something else? If you have the means - retirement allows you to expand or improve upon your collections or go in a completely new direction. Much to consider. 

Another question is when is enough, enough? 

[DSessom]

For about 15 years, I have been mainly collecting V nickels and Shield nickels, and buying other things of interest along the way such as US type coins, graded modern proofs, and US currency.  Lately, I have shifted to US gold coinage, mainly because I see the direction gold is going and I'm afraid that gold will be far out of reach in future for me. 

[The Neophyte Numismatist]

Life has its inflection points, and I wish you well in whatever route you choose.

... as for my direction... It's straight ahead.

Edit Note:  I will provide more context (since the new icon leaves whitespace otherwise)... Here are my projects:

Collecting:

• Finish Proof Mercury Dime set (2023 - 2 coins left)
• Continue Making Progress on Half Cents
  • Finish Draped Bust (2024 - 2 coins left)
• Continue Making progress on my 7070

Other Numismatic:

• Work out a better process for conditioning, cleaning/restoring and recoloring copper coins
• Get more involved with EAC and further build my connections with experts in the field
• Attribute as many half cents as possible (goal of 10 hours/week).
• Start learning a new series that is not copper
• Improve at coin photography, and work through set-up

Edited May 5, 2023 by The Neophyte Numismatist

[Fenntucky Mike]

How are your banknote and scripophily collections doing, if you collect along those lines? I believe you do.

It's tough to understand the full context of the question without being face to face but here we go. I have a hard time contemplating the end of a collecting journey myself, there are just so many directions to go with this hobby.

My job and numismatics are a catch 22 right now, time devoted to one grabs at the coattails of the other and both are invigorating to me. I've enjoyed contemplating  the aspects of retirement and what that would mean for my  numismatic endeavors when the time comes, many years from now  (20 to go, min.), but having a windfall of sparetime to concentrate on my passion of many years could prove disappointing if I've achieved most if not all of my goals prior to "my time". Dont see that happening, ever, but... 

One collection leads to another for me, I dont expect that I will ever run out of avenues to go down, and as far as disposable income goes I don't see that as an issue due to the fact that there are many, many, low cost options if my budget takes a hit. Paper, world, tokens, etc..

I'll eventually sell off duplicates and the halfhearted efforts in my collection but ideally I would pass the core on to the next generation. Or take it to the grave! We'll see.  Regardless, I would love to spend more time discussing, mentoring and learning in my areas of interest/expertise and expanding from there.

[zadok]

On 5/3/2023 at 10:20 PM, Fenntucky Mike said:

How are your banknote and scripophily collections doing, if you collect along those lines? I believe you do.

It's tough to understand the full context of the question without being face to face but here we go. I have a hard time contemplating the end of a collecting journey myself, there are just so many directions to go with this hobby.

My job and numismatics are a catch 22 right now, time devoted to one grabs at the coattails of the other and both are invigorating to me. I've enjoyed contemplating  the aspects of retirement and what that would mean for my  numismatic endeavors when the time comes, many years from now  (20 to go, min.), but having a windfall of sparetime to concentrate on my passion of many years could prove disappointing if I've achieved most if not all of my goals prior to "my time". Dont see that happening, ever, but... 

One collection leads to another for me, I dont expect that I will ever run out of avenues to go down, and as far as disposable income goes I don't see that as an issue due to the fact that there are many, many, low cost options if my budget takes a hit. Paper, world, tokens, etc..

I'll eventually sell off duplicates and the halfhearted efforts in my collection but ideally I would pass the core on to the next generation. Or take it to the grave! We'll see.  Regardless, I would love to spend more time discussing, mentoring and learning in my areas of interest/expertise and expanding from there.

...very insightful comments...allow me to add a couple thoughts...what to do at the end of the trail faces all collectors, if no heirs of interest sell off seems to be the most common answer n it leaves a hole not easily reconciled..."one collection leads to another", how true n so easy to do, sometimes too easy n like rabbits..."low cost", ever so true n many many unexplored places there to go...ur last comment, "discussing, mentoring, learning", mite just be the most rewarding...u have almost certainly gained knowledge in ur collecting areas unique unto urself, passing that on could be the most rewarding n everyone can continue to learn...one last comment, when i was fully employed it was easy to fill my free time void with my hobby but after retirement that void of time became much much larger n now not easily filled....

[VKurtB]

I retired on November 30, 2020. The idiocy in Pennsylvania especially in the halls of government where I worked, regarding COVID and what to do about it (Gov. Wolf was more of a jerk in many ways than Cuomo was.) literally caused me to go driving a U-Haul metaphorically screaming my lungs out down Interstate 81 as fast and as far as I could. I had to get as far away from Wolf's world as humanly possible. I settled in Arab, Alabama, land of hydrofoil racing and rocket scientists (and my COUNTY voted 83% for the Orange Guy). I LOVE IT HERE, except the drivers are insane. I have NEVER run out of things to do. There are things to be done, things to be planned, things to be written, fellow NGC message board denizens to annoy, and books to be read to inspire future numismatic endeavors. Just in the next twelve months alone, there are tens of thousands of miles of numismatic trips in my TripIt app: Summer Seminar, World's Fair of Money, Coinex in London, World Coin Expo in Berlin, and then back to Colorado for the National Money Show. It's amazing what you can do when you don't collect $20 St. Gaudens.

Edited May 4, 2023 by VKurtB

[Tyrock]

I retired 3 years ago, and I've been selling coins at shows. It has been very satisfying so far and it gives you a different perspective on the hobby. I've been involved in this hobby of ours since Carter was president and I'm still researching and learning about numismatics.

[VKurtB]

On 5/4/2023 at 11:34 AM, Tyrock said:

I retired 3 years ago, and I've been selling coins at shows. It has been very satisfying so far and it gives you a different perspective on the hobby. I've been involved in this hobby of ours since Carter was president and I'm still researching and learning about numismatics.

JFK for me. Still flying across the country to take formal coursework being taught by NGC bigwigs.

[Coinbuf]

I reached this point with my collecting in 2017 when I bought the final coins to complete the 09-58 Lincoln set, although in my case that had nothing to do with my work life nor do I think my retirement will have any real impact on my collecting goals.   I spent a year or so kind of in limbo as I really had/have no strong desire to spend much on the memorial cents (I really have never been a fan of the design), and was unsure what I wanted to do numismatically.   Ultimately I decided that while I would not make it a priority I have been slowly filling in the empty memorial slots and working to have a complete Lincoln set 09-current.   I may never actually finish that because I'm not willing to pay big dollars for the MS68 modern shield and memorial coins and at the same time I'm not willing to pay for MS67 or lower coins in holders as that seems like I'm paying a lot just for the plastic.

I also looked thru the registry to see if there were any type sets that would interest me but not be overly expensive, a large number of coins, or exceptionally difficult coins to find.  From that review I found a couple of type sets that I already had a few of the coins and so I started looking for the coins I need to complete.   That is how I redirected and refocused my collecting goals, I was able to finish one of those small type sets just last month, a three coin type set of gold dollars, when I bought a type II to go with my type I and type III coins.

Keep in mind that my experience and ramblings here are biased on being a set collector and not a "box of 20" kind of collector.   I think that once I reach a point of retirement that I would like to spend more time on research, photography, and enjoying the coins I have and perhaps less time and money on acquisitions, but I'll cross that bridge in five years or so.

[World Colonial]

Yes, to complete the Lima and Potosi pillar series to the extent possible. 

That's where all my coin budget has been going and if I choose to stick with it, no realistic prospect I'll have to think about starting another major project; not enough coin budget.  Main reason I would is the inability to find coins I do not have.  I've been fortunate to buy 10 in the last six months or so (a few duplicates) but that's the first time I've ever seen anywhere near this many I wanted to buy in such close proximity.  Lost out on a few others too.

[VKurtB]

On 5/4/2023 at 6:43 PM, World Colonial said:

Yes, to complete the Lima and Potosi pillar series to the extent possible. 

That's where all my coin budget has been going and if I choose to stick with it, no realistic prospect I'll have to think about starting another major project; not enough coin budget.  Main reason I would is the inability to find coins I do not have.  I've been fortunate to buy 10 in the last six months or so (a few duplicates) but that's the first time I've ever seen anywhere near this many I wanted to buy in such close proximity.  Lost out on a few others too.

Sounds like a “feast v. famine” story to me. Older Latin American material has been hot lately in competitive ANA exhibiting. 

[World Colonial]

On 5/4/2023 at 7:49 PM, VKurtB said:

Sounds like a “feast v. famine” story to me. Older Latin American material has been hot lately in competitive ANA exhibiting. 

Correct.  

It's a matter of waiting long enough for the coins to be offered for sale. I haven't tried the private sale route - yet - by approaching one or more dealers to actively find coins for me.  

One PCGS forum member just bought the 1765 Peru NGC MS-62 4R.  I saw it show up in the NGC census last year and sometimes the grading event coincides with a proximate sale, but not usually.  I don't have the budget for a coin like it and lower quality examples don't show up hardly ever either.

[Henri Charriere]

On 5/4/2023 at 7:55 PM, World Colonial said:

Correct.  

It's a matter of waiting long enough for the coins to be offered for sale. I haven't tried the private sale route - yet - by approaching one or more dealers to actively find coins for me.  

One PCGS forum member just bought the 1765 Peru NGC MS-62 4R.  I saw it show up in the NGC census last year and sometimes the grading event coincides with a proximate sale, but not usually.  I don't have the budget for a coin like it and lower quality examples don't show up hardly ever either.

Lot of interesting stuff here...  "it's a matter of waiting long enough for the coins to be offered for sale." You mean like when gold hits $3500 an ounce? Or like when I'm well nigh ninety-nine?  

"I haven't tried the private sale route -- yet..."  

"I saw it show up in the NGC census last year and sometimes... but not usually."  Or as a distinguished member here put it, in substance: fuhgettaboudit, which I took to mean: not-in-your lifetime. [I would not be surprised if he's got those two MS-68s stashed in a footlocker somewhere.]  On the other hand, if they surfaced I wouldn't be able to afford them. Such is life.

[GoldFinger1969]

On 5/3/2023 at 8:39 AM, Henri Charriere said:

 As Archie said to his wife:  "You done good Edith. You done good."  

He also said.....

• "You dingbat" 
• "You....have ruined another Sunday !!" 
• George Jefferson:  "Oh, are you a registered Repubblican, Edith ?  Archie:  "No, she's a registered dingbat" 

Edited May 5, 2023 by GoldFinger1969

[VKurtB]

On 5/4/2023 at 7:59 PM, Henri Charriere said:

Lot of interesting stuff here...  "it's a matter of waiting long enough for the coins to be offered for sale." You mean like when gold hits $3500 an ounce? Or like when I'm well nigh ninety-nine?  

"I haven't tried the private sale route -- yet..."  

"I saw it show up in the NGC census last year and sometimes... but not usually."  Or as a distinguished member here put it, in substance: fuhgettaboudit, which I took to mean: not-in-your lifetime. [I would not be surprised if he's got those two MS-68s stashed in a footlocker somewhere.]  On the other hand, if they surfaced I wouldn't be able to afford them. Such is life.

You don’t really need the Top Pop coins for a registry set, do you? Isn’t having a point less with a fuller set enough to stay #1? I ask because I genuinely have not done much thought about thinly collected sets. The one set I do have is thinly collected also, but I have two empty “holes” and I’m already in the top 3. The set is THAT non-obvious. Seems like obsessing on Top Pops is playing defense. 

Edited May 5, 2023 by VKurtB

[Henri Charriere]

On 5/4/2023 at 9:52 PM, VKurtB said:

You don’t really need the Top Pop coins for a registry set, do you? Isn’t having a point less with a fuller set enough to stay #1?

To answer your first question, No. Of course not. There are collectors with low-ball sets, but as member z presciently observed, G20F Roosters being bullion did not see much circulation. Non-MS examples have been certified, but the field is sparce.  To answer your 2d question, No!  I cannot be #2, or less, anymore than you can be nice rather than right.  

[VKurtB]

My (mis?)understanding was that while they did not circulate much on a “retail” commerce level, they did get use for major bank transactions and did move around some. They are out there in large numbers in more mundane MS grades, whether in plastic or not, but scarcity soars either up or down from there. I remember back in the 90’s and 00’s that every major mail order dealer (Kirk Kelly for one) was selling Coq Marianne for a few bucks over melt.  They were pretty, but not magnificent. 67 and 68 examples are as much a result of pouring through a newly (re)discovered bag with a 10x loupe than anything else. They are “out there” but “hiding among their peers”. The rate at which they’ve been even looked at with a thought of certification is pretty modest. Am I off base here?

[ldhair]

Thank you all for your thoughts. It gave me much to think about.   

[World Colonial]

On 5/4/2023 at 8:59 PM, Henri Charriere said:

Lot of interesting stuff here...  "it's a matter of waiting long enough for the coins to be offered for sale." You mean like when gold hits $3500 an ounce? Or like when I'm well nigh ninety-nine?  

"I haven't tried the private sale route -- yet..."  

"I saw it show up in the NGC census last year and sometimes... but not usually."  Or as a distinguished member here put it, in substance: fuhgettaboudit, which I took to mean: not-in-your lifetime.

I've seen most of the coins I don't have as dreck, but not otherwise and only a few times, as in very infrequently.  Also a few upgrades or coins I don't have that I either was an underbidder, chose not to bid on due to budget limits, or did not know about but found out about later.

Of the 86 Peru coins in these four denominations, here is what I have with none dreck:

1/2R: 12 dates, two details, two AU, eight MS up to MS-65, and several duplicates also AU or MS

1R: 11 dates, one AU details, one F-12, one XF, one AU-58, seven MS, and several duplicates including AU and MS.

2R: 11 dates, 2 details, one VF, two XF, one AU-50, one AU-55, one AU-58, and four MS, and several duplicates but not as nice as the others

4R: Six dates, two AU details, three XF-45, and one AU-53

So, 33 out of 86 numerically graded or 40 including details.  Total TPG coins = 62.  Including raw coin which I do not count because I am looking for an acceptable coin, five more.  These aren't dreck either but not good enough.

This is in 13 years of making it my primary series and slightly over 20 total, though I was not aware of all the sources the whole time or looking very hard prior to 2010.

[zadok]

On 5/5/2023 at 11:22 AM, World Colonial said:

I've seen most of the coins I don't have as dreck, but not otherwise and only a few times, as in very infrequently.  Also a few upgrades or coins I don't have that I either was an underbidder, chose not to bid on due to budget limits, or did not know about but found out about later.

Of the 86 Peru coins in these four denominations, here is what I have with none dreck:

1/2R: 12 dates, two details, two AU, eight MS up to MS-65, and several duplicates also AU or MS

1R: 11 dates, one AU details, one F-12, one XF, one AU-58, seven MS, and several duplicates including AU and MS.

2R: 11 dates, 2 details, one VF, two XF, one AU-50, one AU-55, one AU-58, and four MS, and several duplicates but not as nice as the others

4R: Six dates, two AU details, three XF-45, and one AU-53

So, 33 out of 86 numerically graded or 40 including details.  Total TPG coins = 62.  Including raw coin which I do not count because I am looking for an acceptable coin, five more.  These aren't dreck either but not good enough.

This is in 13 years of making it my primary series and slightly over 20 total, though I was not aware of all the sources the whole time or looking very hard prior to 2010.

...color me impressed....

[zadok]

On 5/4/2023 at 9:52 PM, VKurtB said:

You don’t really need the Top Pop coins for a registry set, do you? Isn’t having a point less with a fuller set enough to stay #1? I ask because I genuinely have not done much thought about thinly collected sets. The one set I do have is thinly collected also, but I have two empty “holes” and I’m already in the top 3. The set is THAT non-obvious. Seems like obsessing on Top Pops is playing defense. 

...having over 30 registry sets i feel that i can at least partially provide u an answer...its a mixed bag, u can have a registry set of almost any grades one mite desire but having a number 1 set is more defined...in some obscure little interest sets u could have the number 1 set with just one coin...in the closely competitive sets its more like betting the trifecta at the track, u could have a complete set of non-top pops n be number 1 or u could have a partial set with some top pops n be number 1 but if u want to be number 1 for sure or at least tied for number 1 u need all coins be top pops...usually, not an easy thing to accomplish, in some of my sets its a matter of waiting for someone to die to get some of the top pops...in some sets the numerical diff between number 1 n 2 is one grade of just one coin, especially true in short sets...in many of the bullion gold coin sets where virtually none circulated n almost all coins r mint state u will find a plethora of ms63-65 coins a few ms66 coins n even fewer ms67 coins, ms68 n above coins virtually non-existent...putting together these bullion gold sets r easy but being number 1 challenging, basically u tie up a lot of money in common dates, much better to just buy the super rarities i.e. the ms68s n sit on them, if n when u would want to put together a registry set u just buy the top pops of the common dates n voila' u r number 1....

[Henri Charriere]

[Begging both the OP's and Moderators indulgence...]

@VKurtB:  Far from being off-base, you are on point recognizing the symptoms and arriving at a correct diagnosis.

Now, as regarding what appears to be an obsessive-compulsion on my part, herewith some facts: the highest possible grade for the F20FGR -- for those viewers who just tuned in this is over at PCGS -- is 67.313. My #1 ranked set is 65.91. The guy trailing behind me who just updated his magnificent set, is 63.69. And I feel utterly threatened. Some may dismiss this as mere eccentricity.  I recognize it for what it is: a socially-acceptable form of mental illness.  To revisit the OP's topic query: I feel exactly like a ratchet wrench with no other choice but to move forward. Sad indeed. 

[VKurtB]

On 5/5/2023 at 2:05 PM, Henri Charriere said:

[Begging both the OP's and Moderators indulgence...]

@VKurtB:  Far from being off-base, you are on point recognizing the symptoms and arriving at a correct diagnosis.

Now, as regarding what appears to be an obsessive-compulsion on my part, herewith some facts: the highest possible grade for the F20FGR -- for those viewers who just tuned in this is over at PCGS -- is 67.313. My #1 ranked set is 65.91. The guy trailing behind me who just updated his magnificent set, is 63.69. And I feel utterly threatened. Some may dismiss this as mere eccentricity.  I recognize it for what it is: a socially-acceptable form of mental illness.  To revisit the OP's topic query: I feel exactly like a ratchet wrench with no other choice but to move forward. Sad indeed. 

I am astonished that such things are calculated and/or known to three decimal places. My one VERY esoteric registry set (not custom, an NGC published one) can contain six (6) coins, and I have four (4) of them. It puts me in second place with only 66.66667% of holes filled. I have both of the remaining two in raw state, waiting for more traveling buddies for a nice trip to Sarasota. I can’t predict whether those coins will get me to #1 or just close. One of them doesn’t EXIST with enough NGC points to get me there, but with BOTH graded, it’s a crapshoot. One of my four is a rock star Top Pop, and may be my 7 foot tall shot blocker. 

Edited May 6, 2023 by VKurtB

[Henri Charriere]

Briefly, FWIW, one's Set Registry ranking can advance without adding a new date or upgrading an existing one.  I distinctly recall being at different rankings amongst the Top Ten here until an upstart shot up to # 1 pushing all sets down. Two sets have since been withdrawn elevating me to # 6. 

[Henri Charriere]

On 5/5/2023 at 2:27 PM, zadok said:

...in some obscure little interest sets u could have the number 1 set with just one coin...

 

in many of the bullion gold coin if n when u would want to put together a registry set u just buy the top pops of the common dates n voila' u r number 1....

As to the former excerpted comment... while it is true many Set Registries are comprised of a single coin, that merely constitutes a starting point. One coin, standing alone, in the ordinary sense of the word, simply denotes a starting point.  In the case of the '33 Double Eagle, I don't care if there's a "hole" for it or not or the logistics involved in acquiring one, absent it, no other set is "complete."

As to the latter excerpt, truer words have never been spoken.

[USAuPzlBxBob]

On 5/3/2023 at 8:15 AM, ldhair said:

After 57 years in the hobby, I'm lost on what to do next. I just retired from a really cool job I have had for 40 years. It was a fun ride. Never thought much about what I would do when I reached this point in life. It may be time for me to stop buying and start selling. Can't really find a different direction to go. 

I retired 7 years ago — let go, to be more accurate — and I had already collected my entire US gold collection years before.

Once the income stream was gone, survival mode kicked in:  get things in order.  Mostly what I did was assess where things stood on all fronts, and I started to enjoy each day without the former daily grind.  As my Schwab Financial Consultant put it, "You've already won the lottery, don't screw it up."
I had various daily chores required of me to maintain my lifestyle, had several old hobbies that I could revisit, maybe tweak eventually upon re-inspection, and had interests on the world around me to keep me entertained.

So I did nothing "bold" the first year off.

Recommendation:  Peruse all of your available posts here on NGC (do a search using your User Name; all posts) and get a sense of how the vibrancy of your younger years has waned compared to today.  Doing this will refresh your memory of the good old days, and give you perspective of "then" versus "now," so that you can make better informed decisions later on down the line.

[MorganMan]

On 5/3/2023 at 8:15 AM, ldhair said:

After 57 years in the hobby, I'm lost on what to do next. I just retired from a really cool job I have had for 40 years. It was a fun ride. Never thought much about what I would do when I reached this point in life. It may be time for me to stop buying and start selling. Can't really find a different direction to go. 

I am at that point also. No one in my family is interested in coins. I might as well get some use out of the cash instead of my wife or kids selling them for 10 cents on the dollar after I am gone.