What do you find most disappointing about this hobby?

James_OldeTowne · August 25, 2006

For me, it's escalating coin prices. I've had to scale back in so many areas that it's become frustrating. Even what was once considered common, such as bust halves in VF, it's become tough. When I look at my numismatic budget as a proportion of my personal income, it has increased at an alarming rate over the past five to eight years.

What disappoints you most?

James

WinstonWare · August 25, 2006

AT coins getting certified. It was pointed out to me that this has happened at both NGC and PCGS. I find it disappointing when the top two certification companies certify AT coins either knowingly or by accident.

zrlevin · August 25, 2006

For me, it's the number of people who try to rip people off by selling cleaned or AT coins at problem free, rainbow colored coins. If everyone was honest, which I'm sure they won't be, I think that this hobby would be much better for everyone.

Zach

Regis44 · August 25, 2006

I am disappointed that I did not grow with the hobby over the last 40 years. If, as a collector, I would have selectively dollar-cost-averaged over time, it doesn't matter where the prices soar to, I would have developeded a beautiful collection at an "overall" reasonable average cost.

TJ'S Coins · August 25, 2006

Finding good coins locally. Dealers from larger cities routinely visit my area and cherry pick the nice stuff for sale on the Internet or in their stores. I can find some nice coins but the very good ones seldom, if ever, appear. I understand the dealer's motive. He has a regular dealer clientele who pay him well for the searching and acquiring he does. Most local buyers cannot afford the best material so he sells it to those who can turn a greater profit and pay him quick cash.

A related point is the plethora of run of the mill coins that have been dipped or cleaned. Living in rural America, it is difficult to find original coins in person. I try to attend the major shows in St. Louis when I can. I'm excited about the Central States show next May.

pendragon1998 · August 25, 2006

For me, it's the plethora of special products produced by the mint these days. They produce set after set geared only at being sold to collectors. I'm not talking necessarily about commemoratives, although I think they should have a mandatory cap of 5 per individual. It just seems like these days they've realized that collectors are out there spending tons of money on coin and they want to make some of that money for themselves. I don't think the government has a place in the market like that.

Maybe it's a non point. I dunno. I should probably think out my argument more.

James_OldeTowne · August 25, 2006

For me, it's the plethora of special products produced by the mint these days. They produce set after set geared only at being sold to collectors. I'm not talking necessarily about commemoratives, although I think they should have a mandatory cap of 5 per individual. It just seems like these days they've realized that collectors are out there spending tons of money on coin and they want to make some of that money for themselves. I don't think the government has a place in the market like that.

I think this is an excellent point.

James

Coin · August 25, 2006

I don't have anyone nearby to compare notes with or go to shows with in person . I usually ask my better half to go along and she enjoys picking up a gold coin in jewelry at the major shows ( thanks to the dealers that have these or I would be driving alone) . I work non-stop and only since retiring from the Army Reserves have I had any real time to devote to this one joy from childhood. My current career involves driving with a partner over 4,500 miles a week and does not leave much time off after the kids and home are taken care of.

If it weren't for this Forum , I would be at a loss for a place to go and discuss , show , offer opinions and get them. So I am not that disappointed , but would sure like to find people in person to trade and compare with without having to drive all over the country as I do for work.

I'm not sure if this fits the topic , but I am not really disappointed with the hobby today as compared to years ago....I realize that right now the upswing is making it hard to get stuff , but on the other hand...because the market is so-called hot...a lot of 'stuff' is coming out of the wood-work and showing up that normally wouldn't be out there in volume. We have to deal with the bad to deal on the good .

PS , James , you found anymore of those Noweeb cents with the splattered parking lot patina's and emerald green jewel encrustations like that one you had on Ebay a while back? I got a real kick outta that one -best funny thing I ever saw on the Bay! That was great.

truthteller · August 25, 2006

For me, it's the number of people who try to rip people off by selling cleaned or AT coins at problem free, rainbow colored coins. If everyone was honest, which I'm sure they won't be, I think that this hobby would be much better for everyone.

Zach

The problem has existed for years. However, due to the transition of coins from "hobby" to "investment", the influx of major capital and the ill educated new collectors, coins were ripe to be abused. In addition, you add on the illusion that TPG will "guarantee" the coin, then the buyer has a false sense of security.

TRUTH

jason888 · August 25, 2006

Gradeflation, increasing grading fees, and a lot of the poor quality garbage coming from the mint. just to name a few!

astrostu · August 25, 2006

The fact that I didn't buy coin x y-number of years ago and so at this point I'd have to spend 100x more on it if I wanted it.

gmarguli · August 25, 2006

The registry. Believing that the grade on the slab is the end reason for buying the coin, not the starting point.

HaydenTubbs · August 25, 2006

Coin doctors,scam artists,etc.

reid1836 · August 26, 2006

It would probably be those unscrupulous people that grossly over grade coins that have been horrifically cleaned and sell to the unwary. This is greatly dissapointing. Those less learned spend their hard earned cash to purchased what they believe to be prized pieces, only to be robbed of their pride and money. This wonderous hobby has lost many a newly inspired collector to those who would be predators of the novice for a quick buck ! Shameful ! But, alas all who have become proficient at grading and have developed the all seeing eye as it were, have usually been burned at some point in the past by just such a deal.

Kudo`s to the TPG`s that have at the very least helped those beginners to avoid the Predator to some extent. Hat`s off to the numerous internet collecting forum`s where one may post an enlarged photo and seek the advice of many a seasoned collector to possibly avoid a pitfall.

Coinguy19 · August 26, 2006

For me, I'd say it's the number of people who try to pass off either doctored or fake coins as genuine, original ones. Especially when they ruin perfectly good coins.

MunkyMan95 · August 26, 2006

The enormous cost of all the nice coins I want.

EZ_E · August 26, 2006

All of the above!

But number one on my list is the what happened to Janine. She inherited some nice coins that a goober-faced coin dealer tried to swindle her out of by outright lies and deceit.

"So what does PR70 mean?"

"Well, it's like this...if you made a 70 on a college exam what would you think of the grade...?"

astrostu · August 26, 2006

The fact that I didn't buy coin x y-number of years ago and so at this point I'd have to spend 100x more on it if I wanted it.

To go along with what I said before: I also find it annoying that bullion prices are so high these days. I love the way silver and gold coins look, especially the early gold ones, and it's just so hard to realize that 100 years ago a coin that my great-great grandparents might have used every day now would cost me a couple $hundred to buy.

TJ'S Coins · August 26, 2006

I love the way silver and gold coins look, especially the early gold ones, and it's just so hard to realize that 100 years ago a coin that my great-great grandparents might have used every day now would cost me a couple $hundred to buy.

Given the rate of inflation and cost of living, eagles and double eagles represented a high value to your great-great grandparents too.

Except in the West there never was much of a demand for silver dollars in circulation which is why so many went into storage and are mint state today. It would be an interesting study for someone to figure out what percentage of gold coins from half-eagles to double eagles actually saw circulation. Does anyone know if such information exits?

Beijim · August 27, 2006

I coudn't agree more with what Victor wrote. That dealer is a true lowlife.

Beijim

Bruceswar · August 27, 2006

The most troubling thing about the hobby to me is the fact that many people don't care about what they buy. Its justs a numbers game to them, collectors and dealers alike. They don't take the time to learn about the coins they buy. Sure we all make purchases blindly, but most of the time we try to learn what we can before spending our hard earned money.

EZ_E · August 27, 2006

Another disappointment is not getting what we want...like the high relief Peace Dollar of Bruce's for example.

Bruceswar · August 27, 2006

Another disappointment is not getting what we want...like the high relief Peace Dollar of Bruce's for example.

I wish I had 100 so could share...

EZ_E · August 27, 2006

Another disappointment is not getting what we want...like the high relief Peace Dollar of Bruce's for example.

I wish I had 100 so could share...

The clincher on your Peace $ is the strike! Great eye-appeal but the strike is exceptional!

Bruceswar · August 27, 2006

Yes, I looked around quite a bit and it does have a very nice strike. I think I looked at about 200 or so in different places. I only found a few with such a nice strike.

James_OldeTowne · August 27, 2006

((( The most troubling thing about the hobby to me is the fact that many people don't care about what they buy. )))

Boy, if that ain't the truth! I couldn't agree more, and I'm just floored by the folks who walk up, and the first thing out of their mouth is "got any PCGS for sale?". It's like, they didn't even ask about a particular coin, and they're not really looking for particular dates, just anything that's in a PCGS holder.