How has experience changed you as a collector?

[DonHeath]

As you grow in experience, surely you grow as a collector. Your interests mature, your focus changes, your buying habits change, odds are the way you acquire coins changes. Please share how your collecting habits have been refined.

[BodyBag]

For one thing, I don't obsess over what I pay for coins. I used to keep precise records of what I paid for each little thing. It used to drive me crazy to loose a few dollars on a sell.

Also, I no longer mind paying "retail" prices or even a premium for coins I really want - I would not have considered this 10 years ago. I guess I'm more interested in enjoying the coin rather than speculating what I might get for it some day.

I have also learned to appreciate moderns.... to some degree

 

One thing hasn't changed, I still love junk , gimmie them rolls of VF Mercs and Walkers and I'm happy the whole evening.

[Hoot]

The longer I've collected, the more personal it's become. By that I mean that I realized long ago that few people share the interest and passion for coins that I do, so my collecting has taken on a completely personal touch. I once thought of what I could pass on to my kids, etc., and now I realize that what I regard as wonderful, interesting and beautiful, may not be considered the same by those even closest to me. So like any well-made collection (and mine is small), mine has become a reflection of my own inner visions. That's why the registries are of little mind to me other than a forum of sharing and learning.

 

I rarely look for "bargains" anymore, but when they come up, I am usually struck fully by their presence - and it seems they are now more frequent than before. I look for great coins, regardless of price but within the limitations of my budget. If I find a great coin that is beyond my ability to afford it, I'll enjoy it for a fleeting moment.

 

At least half of my collection is from raw material that I found while collecting around the countryside. This, more and more, is how I like to collect. It's more fun for me to go to new places and meet new people, wandering through some eclectic business dwelling while searching for what may still be "in the wild" coin-wise, than it is to go to a show (although they are quite fun) or (especially) participate in an online auction. Unfortunately, due to my location, I still do more of the latter than I'd like. It's surprising, however, how much raw (and slabbed) material just sits in shops here and about, languishing for the right forum to meet the right hands. I may not build the best registry sets of all times, but I'll do fine for me.

 

Since I collect a wide variety of coins, my choices are nearly endless.

 

My albums are not even close to full, except for some nice circulated stuff. When or if I ever fill one up, I'll just start another. For buffalo and Jefferson nickels, I'm still pretty focused, but the rest of this hobby has become more of a wandering adventure than a driven obsession. The change feels good.

 

Last, but not least, I study more and more the intricacies of the series I'm obsessed with. This gives me a better appreciation of coins in general, as there are great commonalities between series as one follows them through time. The study of the historical context of the time each coin was produced and the history of their inception through manufacture also adds great appreciation for each and every coin. Too much to say!

 

Hoot

[CarlWohlforth]

I am much more critical of the coins I'm looking at.

 

I like toning now.

 

I am more concerned about price.

 

Finally I feel confident enough to buy some cheaper raw coins. It took me a long time to get over buying an AU, AT bust half as an "Unc coin that was sitting in the bottom of my drawer for years"

[Todd-migration]

When I first started in the business I never thought I would collect but then I did and have not looked back and probably wont. I love history and coins definately have history. When I buy a coin I am not necessarily looking for a deal but if I come across one I might take it and stash the coin away either for an investment or keep it around to look at every once in a while but I basically will pay a premium for a coin, if I have a chance to look at it or am dealing with someone reputable. I know I look for two things, eye-appeal and grade and can take one without the other but both preferred and sometimes you have to be picky and sometimes not but a lot of people are looking for the same thing as me and that can be a bummer. Sometimes there are only a few coins out there for what you want and unfortunately only 1 person may have it at the time so you may have to pay a premium if that dealer is asking one but it must be a pq coin. For Example if say 95% of a date were mint set toned and you have a brilliant piece then that brilliant piece will demand more because you may only find a couple in that condition or milk spotting on a coin will tend to lower the price compared to one that does not have any. So I guess the point I am trying to make is it depends on the individual coin and numbers for me when I go to buy a coin. But either way it is fun to pick up a killer new addition to the set.

[Peace_Fan]

Over time, I've become far pickier as to which coins I buy. A MS63 coin that I used to think was beautiful I now consider average. Any mark that can be seen with the naked eye is offensive to me.

 

I used to buy coins more on price than on quality. If two coins were available at the same grade, I would always buy the cheaper of the two. Now, I will always purchase the one of superior quality.

 

As the internet has grown, and the photography of coins has risen to high levels, I buy most coins sight-unseen, and always with a return policy. I've returned very few coins that I've bought this way.

 

Rather than complete a series of coins (other than my Peace set), I would prefer to have a single coin from the series with superior quality.

[Elcontador]

I echo some of the sentiments above. I am more selective re what I buy now.

Three or four years ago, I was at Long Beach and wanted to buy a nice MS 65 Barber Dime. While there were plenty on the bourse floor, the twenty I looked at ranged from mediocre to ugly. I bought the best one I could find. Since then, I've walked the floor at Long Beach with money to spend, didn't find anything I liked, and spent nothing.

 

Most recently, I was looking for a No Motto Seated Half in 5. I found one that was

acceptable. Not great, not bad, but acceptable for the grade. It was priced right,

but I passed on it. A month later, I spent an add'l 20% on one I liked.

 

The second coin was nicer for the grade. It had virtually no marks (the first one had

noticeable, but acceptable contact marks on the coin's high points). It was original

and prooflike (the first one was dipped, with a blazing obverse and a dull reverse),

This is the critical sort of analysis that now goes into my coin-buying process.

 

I still, however, won't pay what I think is an obscene markup on a coin because it is in (fill in the blank's) case.

[goose3]

I have become picky (for lack of a better term). The past 2 times at baltimore I have spent less than 20.00! Not that I had a huge amount to spend anyways.

 

Something has to really catch my eye for me to buy it anymore unless it is a FE variety or something I am looking for.

 

I used to not want to pay retail for things but anymore I have realized that you get what you pay for and frankly don't mind paying that and then some if the coin is worthy of it!!!!!!

 

 

[Leothelion]

As you grow in experience, surely you grow as a collector. Your interests mature, your focus changes, your buying habits change, odds are the way you acquire coins changes. Please share how your collecting habits have been refined.

 

I'll have to ask my wife about that one.

 

Leo

[DonHeath]

Leo.....my wife too.

 

I posted this thread for selfish reasons. I always learn something from other collectors, and their perspectives. My contribution to this thread is remarkably similar to most of the earlier posts. I'm hope more advanced collectors will look at this list and smile to themselves, remembering when they were at the same place in the journey that I am now.

 

1 - Once you've seen jaw-droppingly beautiful examples, average coins are.....well, average. I collect only the coins that speak to me. I never keep a coin I don't like anyway. Pop, eye-appeal, luster, and originality make nice coins keepers. Attractive light color is a nice bonus. In circ grades, originality, natural color, and great detail are the right stuff.

 

2 - No matter how hard I try to practice self-discipline, occasionally destiny places a beautiful coin in my path that doesn't fit my current collecting goals, and my goals evolve.

 

3 - I collect to please only myself. I am always delighted when others show interest, but my collection is really a selfish pleasure.

 

4 - A holder adds little value to a beautiful coin. It is important to the unattractive ones.

 

5 - Grading standards are very personal. Buy to your own standard.

 

6 - Collecting is not a competition, nor a race.

 

7 - Goals are important, and the best collectors have them, but those goals should never be allowed to interfere with your enjoyment of the hobby.

 

8 - Premium examples are worth premium money.

 

9 - Greed almost always leads to foolishness. Too good to be true usually is.

 

10 - The best source of informed opinion is a passionate experienced collector/dealer.

[Leothelion]

Yeah, finding those coins is one thing and not paying a whole lot for that muffler is another. I'll usually locate the nicer coins on my own. I like the hunt. Now that I'm back to work, I'll need to do so a little more.

 

Leo

[MichaelG-migration]

I've been collecting Morgans for about 5 years. My goal is to have an AU/BU set by the end of this year - right now I need to upgrade 5 XF45's (not including my XF48 93s, which I'll have to be satisfied with for the foreseeable future). I started out buying raw coins. However, when it came time to sell them (when I located a higher grade), I found that I inevitably lost money. I started sending the raw coins I purchased to grading service, primarily PCI (when green and the first month when gold) and ANACS. That's when I discovered that I couldn't identify cleaned coins very well. Now I'm sending all my collectible coins to NGC.

 

All my coins are slabbed (no ACG, SEGS, NTC or PCI gold). Most of my purchases are on eBay. I still bid on raw coins, and I send back 75% of those I win. I attend numerous coin shows, but purchase very few coins. I hate paying more than Greysheet. This is becoming more of a problem for my collection, as prices seem to be appreciating faster than the CDN can keep up with. Also, nicer coins demand a premium (as has been noted in previous posts).

 

As I look through my collection, I'm surprised (dismayed) by the number of "ugly" coins I have - lots of MS60's that look like they've been rescued from the garbage disposal and "toned" coins that are simply tarnished. One thing I've noticed about the "hobby", is that I'll never finish my collection. There's always a better example (since I'm not obscenely wealthy and can afford the very best, regardless of price).

 

So far I've resisted the temptation to expand beyond Morgans (like a type set). As a result, I spend much more time looking than I do buying. Since I consider my dollars an investment as well as a hobby, I'm unwilling to pay retail (I learned my lesson collecting stamps). To answer the question, I believe that I've learned what every dedicated collector learns from experience, that is to be more picky (discriminating).

 

If a person is prone to addictions, collecting coins is less onerous than most.

 

Michael

[Dog97]

I used to believe everything I read or was told. Nowdays I can think for myself.

I did the crackout thing in the 90s and that made me look at each coin with the potential for an upgrade.

It also made me extremely picky & critical, something which carries over with me to this very day, especially when looking at high priced coins.

Some big dealers have told me that I'm too critical and miss out on good coins but I feel the only thing missing is my willingness to buy their junk.

 

[IrishMike]

Well written Don, not much I could add to that. I do feel I wasted a lot of collecting years listening to others. As a kid I loved filling up those albums with coins that appealed to me. In later years as I accumulated some wealth I turned into a coin snob and passed on a lot coins that I wished I owned. Not saying there is anything wrong with going for high grade coins, it just wasn't for me. I am back to completing another raw set of IHC's and have come full circle. It has been 43 years between sets.

 

It is so easy to get caught up in pop tops, ms and pf 70's, expensive coins that you forgot why you fell in love with the hobby in the first place.

[michael]

extremely choosy very much so

 

i like coins with monster extraordinary qualities

 

also as with (for the most part) all collectors who are at it on a more than causal basis for a lifetime

you develop a taste for exceptional monster one of a kind

one in a million toned coins

 

or if not toned coins

coins that are one in a million exceptional monster eye appeal along with exceptional monster qualities

 

sincerely michael

 

 

 

 

[Oldtrader3]

I do not obsess nearly as much about what I pay for a coin. I obsess much more about quality. I collect more high-grade Type and Esoterica (Trimes, Half Eagles) than I used to. I buy higher quality and tend to hold on to my coins much longer than I used to. I have not sold more than 5% of what I have purchased in the last several years. What I did sell was modern set material, not pre-1950 Type or gold.

 

I have several partial sets of high-grade type/denomination coins that interest me somewhat (the source of my CDR-Registry Type Sets) but are not presently on my hot-to-finish list (i.e. Early Lincoln Cents, S.L. Dimes). These will be future projects, or they will be used to fund projects. I will buy more high-grade Type coins (especially better dates), particularly Half Eagles, Seated Lib. and Barber coins, mainly because I believe that they are seriously undervalued.