What Am I Collecting?

[goomolique]

I was asked this question by my sister and i didnt know what to answer. I started with sovereigns 3.5 years ago. I knew nothing about coins back then (not that i know much now) so i though cheaper sovereign is better. Because its cheaper:)

didnt know anything about different types/years/mints etc. So now ive got small collection of bullion sovereigns Then i got KE VII crown and changed my preference to silver coins. At that time i already had basic books. I started type collecting shillings.

Gone back to KG III when i bought very EF+ QV half penny and fall in love with bronze coins.

Ive collected a lot of rubbish in the mean time. from coins in my pocket to silver proofs to £5 coins etc.

At this point i got an idea to get one coin from every reign since KH VII.

http://www.predecimal.com/forum/topic/8314-just-an-idea/

It never materialized as i needed every penny to buy a property.

Everytime i read about new members asking where to start i read all advices and i want to do the same:)

Every coin i see on internet be it dealers website or ebay - i want it.

I like gold/silver/bronze coins and i would like to own each and every one of them:)

As coin collecting is small part of my life and totally opposite to my full time job i find it hard to actually hold and see many coins in real life.

Maybe thats why i dont really know what i collect and want to collect everything.

It looks like an alcoholic anonymous speech. I didnt plan it this long but got carried away and lost my point in the mean time

Anyway, any comments welcome.

PS just got a lovely KGV penny of ebay:)

[Rob]

You are in good company. Most people are in a similar boat.

[bagerap]

The bad news is, you're a collector.

The good news however is, you're a collector.

[Gary]

The bad news is, you're a collector.

The good news however is, you're a collector.

:D quite true......

[davidrj]

It looks like an alcoholic anonymous speech.

My name is David, I collect coins

[Peckris]

It looks like an alcoholic anonymous speech.

My name is David, I collect coins

My name is ... well, you can call me Peck ... and I post to a coin collectors forum.

[TomGoodheart]

Well, you're not alone! We all probably start off picking up things we like. In my case some of what I liked was too expensive for my budget, so I narrowed it down!

Until recently of course, when I got bored of waiting for coins I wanted to turn up and decided to start on a 'theme' based collection, rather than denomination, metal or period, just for fun.

The bottom line is that a collection is a personal thing. If you like seeing all the same value coins, fine. If you like diversity, that's fine too. It doesn't really matter. The key things, buy better grade examples where you can and learn a bit about what you're collecting, hold true whatever it is that you collect.

The first because if ever you do want or need to sell (or pass on to family) your coins, better grades tend to do .. well, better! Plus you see more of the design of the coin as it was intended by the designer!

The second because it avoids overpaying for commoner or poor condition coins, gives you perspective on what is available so you can plan your purchases and helps you recognise the actually rare, as opposed to eBay rare!

Of course you don't even have to stick to these. If you're happy with well circulated examples, that's fine too. Whatever works for you really.

You're a coin collector. How you define it beyond that, well, that's up to you!

[Coinery]

Anyway, any comments welcome.

[Accumulator]

I decided some years ago to focus almost exclusively on a single denomination, the penny from 1797 - 1970. My impossible objective is to collect an example of each date and variety, together with the patterns and proofs. Although the collection has fixed boundaries, the difficulty and cost of filling the 'gaps' does become ever greater! Like others, I have considered a second collection but, aside from picking up a few bits and pieces, have always returned to the pennies. For me, sticking to a single defined period and denomination fits well with the time available for a hobby and the budget that I can afford.

[Peter]

I started off with date runs.

I've achieved it but now go for types.

It is a bit like only liking blonds...I like all women....well most.

I do need a bite of intelligence and civil behaviour...and a cheeky grin.

[Peckris]

I decided some years ago to focus almost exclusively on a single denomination, the penny from 1797 - 1970. My impossible objective is to collect an example of each date and variety, together with the patterns and proofs. Although the collection has fixed boundaries, the difficulty and cost of filling the 'gaps' does become ever greater! Like others, I have considered a second collection but, aside from picking up a few bits and pieces, have always returned to the pennies. For me, sticking to a single defined period and denomination fits well with the time available for a hobby and the budget that I can afford.

A noble ambition - but where do you draw the line? Ok, you've always had a 1922/27 which is mega rare, but what others do you aim to get? Obviously 1933 is the commonest one that's out of reach (well, compared to 1920 type 2, 1926ME reverse 1927, 1922ME, 1952, 1953 type 1, and 1954!!), but there must be very rare issues you don't know if you will ever see or afford?

[Rob]

I think the greater problem is that of availability. You can have all the money in the world, but you can't force the reluctant owner to sell if they choose not to do so. There must be quite a few on this forum who have been asked how much they would accept or who have asked that question themselves.

[HistoricCoinage]

There must be quite a few on this forum who have been asked how much they would accept or who have asked that question themselves.

Guilty.

[Accumulator]

I decided some years ago to focus almost exclusively on a single denomination, the penny from 1797 - 1970. My impossible objective is to collect an example of each date and variety, together with the patterns and proofs. Although the collection has fixed boundaries, the difficulty and cost of filling the 'gaps' does become ever greater! Like others, I have considered a second collection but, aside from picking up a few bits and pieces, have always returned to the pennies. For me, sticking to a single defined period and denomination fits well with the time available for a hobby and the budget that I can afford.

A noble ambition - but where do you draw the line? Ok, you've always had a 1922/27 which is mega rare, but what others do you aim to get? Obviously 1933 is the commonest one that's out of reach (well, compared to 1920 type 2, 1926ME reverse 1927, 1922ME, 1952, 1953 type 1, and 1954!!), but there must be very rare issues you don't know if you will ever see or afford?

Better late than never (it's been a busy week)...

I don't really have a line beyond which I won't go, other than the natural limits of availability and price, which for me are always changing. I therefore see no reason to give up on the possibility of one day owning a 1933 penny, or indeed any other coin. Never say never, there's always the lottery!

Though less obvious than some of the headline coins, I'm still picking up patterns and proofs when I can. I also have many gaps in the early bun series which wouldn't cost a mortgage to fill. Overall there's a long way still to go, even with the relatively cheaper coins.

Like most of us, it's far more likely that I'll run out of time than of coins I still need to collect!

[Accumulator]

I think the greater problem is that of availability. You can have all the money in the world, but you can't force the reluctant owner to sell if they choose not to do so. There must be quite a few on this forum who have been asked how much they would accept or who have asked that question themselves.

Very true, but if Bill Gates or Warren Buffett decided, tomorrow, to collect coins I'm sure it wouldn't take a few well-placed and well-rewarded dealers long to acquire most of things they wanted!

[Rob]

I think the greater problem is that of availability. You can have all the money in the world, but you can't force the reluctant owner to sell if they choose not to do so. There must be quite a few on this forum who have been asked how much they would accept or who have asked that question themselves.

Very true, but if Bill Gates or Warren Buffett decided, tomorrow, to collect coins I'm sure it wouldn't take a few well-placed and well-rewarded dealers long to acquire most of things they wanted!

They wouldn't be having mine, just as I wouldn't expect someone to sell to me if asked. I might take up an offer to buy if asked, but would not solicit one from the seller without an indication they wanted to sell.

[Peter]

Part of the attraction is tracking down coins for a good price.

OK I have over paid sometimes but they were must haves.

[Rob]

Part of the attraction is tracking down coins for a good price.

OK I have over paid sometimes but they were must haves.

Tracking down things for a good price is a necessity based on the lack of funds available to complete a collection. However, that should not disuade you from paying over the odds for something you know is a Hobson's Choice piece, haven't seen before or at least not in that condition.

Making a point of only buying below book raises a few questions, not least of which is 'Why am I able to buy at this price when others have said no?' An undesirable rarity bought cheaply almost certainly remains that on both former counts.

[Accumulator]

I think the greater problem is that of availability. You can have all the money in the world, but you can't force the reluctant owner to sell if they choose not to do so. There must be quite a few on this forum who have been asked how much they would accept or who have asked that question themselves.

Very true, but if Bill Gates or Warren Buffett decided, tomorrow, to collect coins I'm sure it wouldn't take a few well-placed and well-rewarded dealers long to acquire most of things they wanted!

They wouldn't be having mine, just as I wouldn't expect someone to sell to me if asked. I might take up an offer to buy if asked, but would not solicit one from the seller without an indication they wanted to sell.

I'm certainly not in a position to test your resolve Rob!

Interestingly, on your other point, there does seem to be an unspoken ethic about not overtly soliciting the purchase of coins from other collections. It's not something I've seen discussed on here, but it's rather nice.

[Rob]

I think the greater problem is that of availability. You can have all the money in the world, but you can't force the reluctant owner to sell if they choose not to do so. There must be quite a few on this forum who have been asked how much they would accept or who have asked that question themselves.

Very true, but if Bill Gates or Warren Buffett decided, tomorrow, to collect coins I'm sure it wouldn't take a few well-placed and well-rewarded dealers long to acquire most of things they wanted!

They wouldn't be having mine, just as I wouldn't expect someone to sell to me if asked. I might take up an offer to buy if asked, but would not solicit one from the seller without an indication they wanted to sell.

I'm certainly not in a position to test your resolve Rob!

Interestingly, on your other point, there does seem to be an unspoken ethic about not overtly soliciting the purchase of coins from other collections. It's not something I've seen discussed on here, but it's rather nice.

It all boils down to the principle of you can't have everything you want, when you want it. Instant gratification is for the impatient only. Unless I am in desperate need of the cash, as I'm not collecting as an investment, why sell? It therefore follows that I have no reason to disrupt my collection unless it is a piece that I know I can replace with either a better example/higher grade alternative or is surplus to requirements. Several members have acquired coins from my collection on this basis following an approach from myself. In a roundabout way, this is why certain rarities also find their way into a few specialist collections because the number of people willing to buy something at the drop of a hat is a relatively small percentage.

Money spent on coins is dead money unless you want to time the sale to maximise returns. When my time comes to sell, some will sell for less than I paid and others more. As a whole it will probably mean a gain but there is no guarantee. 20 years from now the market may have tanked for all I know. You shouldn't be spending money you don't have unless in investment mode.

On more than one occasion I have been told that a run has been completed in top grade in a very short space of time. On inspection, no it hasn't. I was asked by a dealer for a 1922 halfpenny in BU recently. I told him I didn't have one and suggested he would be back in 12 months time asking the same question. He didn't want to hear that, I was being realistic. Patience is definitely a virtue here. If you are to have a meaningful hobby, it must be that quality is spread around different collections - otherwise one person will have all the nice pieces and everyone else gets depressed at the inability to procure things worth having. What goes around, comes around.

[Peter]

I do like getting value.

We have started using Aldi for shopping.The quality is good especially for fruit and veg.

Same with coins I shop around.

It is part of the enjoyment.

[TomGoodheart]

It therefore follows that I have no reason to disrupt my collection unless it is a piece that I know I can replace with either a better example/higher grade alternative or is surplus to requirements. Several members have acquired coins from my collection on this basis following an approach from myself. In a roundabout way, this is why certain rarities also find their way into a few specialist collections because the number of people willing to buy something at the drop of a hat is a relatively small percentage.

Patience is definitely a virtue here. If you are to have a meaningful hobby, it must be that quality is spread around different collections - otherwise one person will have all the nice pieces and everyone else gets depressed at the inability to procure things worth having. What goes around, comes around.

Quite. Many of the rarities in my collection have been obtained privately when better grade examples have become available. The collector has had an opportunity to upgrade and I have obtained a coin I did not previously have, in many cases with provenance which, though not of particular benefit is something which I enjoy about a coin. Win, win, all for the minor inconvenience of always trying to have some ready funds, well .. ready!

Perhaps I should change my tagline back to "Rare Charles I shillings wanted cheap!"?

Edited March 29, 2014 by TomGoodheart