A coin collecting comment (Negative)
Bob-tx
each coin type from the Red Book, and then later, researched
various coin types from library info.
The history of the coins was fascinating to me. Such things as
the first time the motto, "In God We Trust" on the two-cent coin
because of the religious feelings about the Civil War.
Every coin type had a history and a story. I loved learning and
collecting. I traded duplicates for things I wanted, never spending
much money, but enjoying every trade, some good, some not so
good. But it was all fun and interesting.
Now days it seems that most everyone is in to collecting for the
money - for the investment, which may or may not be profitable.
To me, it has tarnished the hobby, and the US mint has accelerated
the 'Let's make money from this" attitude I see so prevalent on this
NG, coin shows, and dealers.
I recently sold all my old type sets consisting of at least one of almost
every US coin type, most circulated, but a few in UNC condition. I got
very little for them. It almost breaks my heart to see this great hobby
turned into a stock market type frenzy.
I still have to get rid of proof sets back to 1953, and a plethora of wheat
pennies as well as a bunch of mostly non-key coins that I pulled from
circulation back in the 50's.
I know there are a few on here that are still interested in numismatics but
they seem to be in the minority.
Sadly, I am no longer a collector, but just trying to get rid of what I have
on hand before I kick the bucket.
Comments?
Bob-tx
Reid Goldsborough
make their living through it. I experienced the same as you did around
1970 when I sold my first collection, getting significantly less than
what I paid. But this is the difference between wholesale and retail,
and it's what enables dealers to make a living.
There are indeed some collectors who approach coins strictly or largely
from an investment perspective. But most of those I encounter today,
online and off, regard trying to make money as secondary at best and
regard the enjoyment they derive as primary, that is, coin collecting to
them is a hobby.
--
Consumer: http://rg.ancients.info/guide
Connoisseur: http://rg.ancients.info/glom
Counterfeit: http://rg.ancients.info/bogos
Bremick
"Bob-tx" <No Spam no contact> wrote in message
news:4e08e9c1$0$1947$bbae...@news.suddenlink.net...
The coins you collected should still have a fascinating history for you.
What changed and what made that history disappear? Why should you care how
others collect or what motivates them? We usually gear the way we pursue
our hobby to suit our own interests. Why sell at all unless it has become
necessary? Were you always expecting to make a profit when that time came?
You seem disappointed that your coins didn't bring as much as you would have
liked. Would a tidy profit have changed your opinion of the hobby?
After collecting for a while, you should know that selling your coins
often may bring less than what you paid for them. It's hard to believe you
had soured on your coins or the hobby itself before you tried to sell stuff.
Many of us who collect things as a hobby don't expect to make a good profit
when we liquidate, especially with hobbies where the things we collect must
be purchased at a premium. I always think of the guy who spends $20,000 to
restore an old car as his hobby, watches it go for $18,000 at auction, and
then for the love of the process starts all over again with another car,
knowing that he will not likely even recoup his restoration cost when it
sells.
What goes on at RCC sure isn't much of an indicator of the state of
numismatics. But then you did what you did for your own reasons so good
luck from now on.
Ken Barr
"Bob-tx" <No Spam no contact> wrote:
> I started collecting coins in 1953. I read the short history of
> each coin type from the Red Book, and then later, researched
> various coin types from library info.
[snip]
> every US coin type, most circulated, but a few in UNC condition. I got
> very little for them. It almost breaks my heart to see this great hobby
> turned into a stock market type frenzy.
>
> I still have to get rid of proof sets back to 1953, and a plethora of wheat
> pennies as well as a bunch of mostly non-key coins that I pulled from
> circulation back in the 50's.
>
> I know there are a few on here that are still interested in numismatics but
> they seem to be in the minority.
>
> Sadly, I am no longer a collector, but just trying to get rid of what I have
> on hand before I kick the bucket.
>
> Comments?
Compared to most other hobbies, koin kollecting still has one
of the highest "return on investment" metrics that I know.
Coins at least have SOME floor given face value and melt value.
Talk to some former stamp collectors, beanie baby collectors,
sportscard collectors, Hummel collectors, etc., and find out
what the ROI was upon the liquidation of their collections.
Guaranteed it's quite a bit less than on coins, IF they can
even find a buyer for their stuff at all ...
Sports enthusiasts have it even worse. How much do you get
back from the used ticket stubs to football games, used
golf clubs versus the new cost PLUS green fees, etc.?
When my uncle, an avid bowler, died after spending thousands
of dollars on equipment and lane time, my aunt got $5 for his
bowling bag and $10 for each of his balls ...
(Yeah, go ahead and snicker ... I know how this reads ...).
--
Ken Barr Numismatics � � � �email: �k...@kenbarr.com
P. O. Box 32541 � � � � � � website: �http://www.kenbarr.com
San Jose, CA �95152 � � Coins, currency, exonumia, souvenir cards, etc.
408-272-3247 � �� NEXT SHOW: Alameda Coin Club, June 26
Bremick
"Ken Barr" <k...@kenbarr.com> wrote in message
news:ken-60963B.1...@nntp.aioe.org...
> In article <4e08e9c1$0$1947$bbae...@news.suddenlink.net>,
> "Bob-tx" <No Spam no contact> wrote:
>
>> I started collecting coins in 1953. I read the short history of
>> each coin type from the Red Book, and then later, researched
>> various coin types from library info.
> [snip]
>> every US coin type, most circulated, but a few in UNC condition. I got
>> very little for them. It almost breaks my heart to see this great hobby
>> turned into a stock market type frenzy.
>>
>> I still have to get rid of proof sets back to 1953, and a plethora of
>> wheat
>> pennies as well as a bunch of mostly non-key coins that I pulled from
>> circulation back in the 50's.
>>
>> I know there are a few on here that are still interested in numismatics
>> but
>> they seem to be in the minority.
>>
>> Sadly, I am no longer a collector, but just trying to get rid of what I
>> have
>> on hand before I kick the bucket.
>>
>> Comments?
>
> Compared to most other hobbies, koin kollecting still has one
> of the highest "return on investment" metrics that I know.
> Coins at least have SOME floor given face value and melt value.
A registry set collector might not want to hear that.
>
> Talk to some former stamp collectors, beanie baby collectors,
> sportscard collectors, Hummel collectors, etc., and find out
> what the ROI was upon the liquidation of their collections.
> Guaranteed it's quite a bit less than on coins, IF they can
> even find a buyer for their stuff at all ...
Like coins, if you bought and collected stamps at face value, you could
always use them as stamps. If you paid a premium for older ones, you may or
may not get your money back when you sell them. I bought sports and
non-sports gum cards from the 1940's through the 1980's. Considering the
pennies I spent for them, the ones I kept have appreciated quite nicely.
And my dentist has prospered quite well, too. As a kid, I never gave any
thought of what they might be worth as an adult. They were just something
to be collected and enjoyed at the time. Like comics. I can understand how
a widow whose husband had amassed thousands of elephant statues might have
no idea of their worth and sell them for a small fraction of what he paid.
On the other hand, there are collectors who collected other types of items
wisely and left their heirs with something really valuable and easily sold.
>
> Sports enthusiasts have it even worse. How much do you get
> back from the used ticket stubs to football games, used
> golf clubs versus the new cost PLUS green fees, etc.?
Is that a real comparison though? One's ticket stub is simply a token
that's left over after witnessing an event, a piece of personal memorabilia.
But as a collectible, I recently sold the used stub I kept from the highest
scoring NFL game ever on eBay for $50 or about three times the cost of the
original ticket. Equipment one has used in sports isn't a "hobby"
collectible and it usually would not be of much value to others as it was to
the original user.
>
> When my uncle, an avid bowler, died after spending thousands
> of dollars on equipment and lane time, my aunt got $5 for his
> bowling bag and $10 for each of his balls ...
> (Yeah, go ahead and snicker ... I know how this reads ...).
I have spent thousands on softball equipment, fees, and travel over the past
ten years, but that wouldn't make my used gear of much value to others after
I'm gone, compared to what I paid for it. My "investment" wasn't intended
for future profit, it was for enjoyment of the sport at the time. My $500
suit wouldn't be apt to bring much to Goodwill after I'm gone either.
beekeep
As for a hobby "return on investment" I think beekeeping is higher.
Back when I was a hobbiest beekeeper it cost me nothing and actually
made me a little spending money each year.
beekeep
oly
One can still "do" many nice attractive foreign coins or ancient coins
"as historic artifacts" and avoid a lot (but probably not all) of the
"greed" problems associated with the bulk of U.S. coins and most U.S.
(only) dealers and collectors.
Numismatics is, after all a "money" hobby.
And it is good to dispose of the bulk of your coins, yourself, before
death or dementia lay their icy hands on your body and/ or mind. It
seems that serious coin collecting rarely runs in families. If you
have fifty years experience and are unhappy with the prices you are
able to negotiate, what hope would there be for your widow or heirs to
do better?
You can't imagine how I toned down the rhetoric and bad words in this
post before I sent it.
oly
les.p...@gmail.com
As a former comic collector, I can completely relate to your plight,
having dispensed box
after box of what once were laboriously obtained, enjoyed, stored and
cataloged items, only
to sell the vast majority of them at fire sale prices. I did enjoy
them, but as I wanted to shift
my resources (time and money) towards coins, it was the proper thing
to do at the time.
Did I "make" money selling some of them? Sure.
Did I lose more than I made? Most likely.
Will my daughter enjoy the sets I will likely be handing down to her
(assuming inflation and the collapse of the fiat currencies don't
ravage them first)? Hopefully.
--
Les
me: life-of-coins.blogspot.com
stringer: news.coinupdate.com/author/lpeters/