Comments on: Cleaning Up Your Collection http://www.raregoldcoins.com/market-blog/cleaning-up-your-collection Douglas Winter Numismatics Wed, 01 Feb 2012 22:17:06 +0000 hourly 1 By: RYK http://www.raregoldcoins.com/market-blog/cleaning-up-your-collection#comment-627 RYK Sat, 14 Mar 2009 13:42:47 +0000 http://raregoldcoins.com/?p=2819#comment-627 Great blog, Doug. I am going to take your advice and go through the safety deposit box in the next couple weeks. If I told you about some of what is in there, I could imagine the patented DW grimace. ;) I like your idea of the "ahhh" test, but I have another idea for a test. I have challenged myself to make a list of all of the coins in my collection from memory, excluding bullion, albums of coins assembled in childhood, and recent stuff from the Mint for the kids. Any coin that is not memorable enough to make the list will be sold. Then, there are the "mistake coins". I know exactly which they are, but selling them will only compound the pain of actually owning them. One really has to be motivated to move these coins out, but once gone, usually there is a sense of relief. It's kind of like getting out of a bad relationship. Most collectors do not have unlimited resources, so having cash tied up in coins that are no longer appreciated impedes one's ability to move the collection in the preferred direction. Great blog, Doug.

I am going to take your advice and go through the safety deposit box in the next couple weeks. If I told you about some of what is in there, I could imagine the patented DW grimace. ;)

I like your idea of the “ahhh” test, but I have another idea for a test. I have challenged myself to make a list of all of the coins in my collection from memory, excluding bullion, albums of coins assembled in childhood, and recent stuff from the Mint for the kids. Any coin that is not memorable enough to make the list will be sold.

Then, there are the “mistake coins”. I know exactly which they are, but selling them will only compound the pain of actually owning them. One really has to be motivated to move these coins out, but once gone, usually there is a sense of relief. It’s kind of like getting out of a bad relationship.

Most collectors do not have unlimited resources, so having cash tied up in coins that are no longer appreciated impedes one’s ability to move the collection in the preferred direction.

]]> By: Dale Koelbl http://www.raregoldcoins.com/market-blog/cleaning-up-your-collection#comment-626 Dale Koelbl Thu, 12 Mar 2009 16:06:31 +0000 http://raregoldcoins.com/?p=2819#comment-626 Mr. Winter... I wish that I had the gift of being able to communicate, clearly and simply, like you. It appears you have "been reading my mail" as the concerns you express in the first two paragraphs above are exactly the reasons for my present nervous, perhaps even fearful, condition. I have no qualms about the quality of the coins in my "mish-mash" collection, but with three years experience in this market, I have come to the conclusion that I know a lot less now than I did when I purchased my first gold coin. Altho' I am merely "treading water" at present with my investment, I would say that in comparison to other markets "treading water" might not be so bad. At any rate, I, too, am not convinced that further damage can be avoided, and the old adage "An ounce of prevention is worth a pound of cure" comes to mind, and I have been flirting with the idea of selling coins (some at a loss) and purchasing silver bullion instead. My initial plan was to "hold" my coins for 5-7 yrs, which may or may not be a proper plan. It looks like a generic, gold coin should be in the domain of "day-traders", tho', and sold whenever the first opportunity at a profit presents itself. But I really don't have a clue these days, and have missed a couple of chances, already, to do just that. May I say, in passing, how much I enjoy your website, and how much I appreciate the liberality with which you share your knowledge and expertise with the likes of me. Good day, Sir and..."Thanks, again". Mr. Winter…
I wish that I had the gift of being able to communicate, clearly and simply, like you. It appears you have “been reading my mail” as the concerns you express in the first two paragraphs above are exactly the reasons for my present nervous, perhaps even fearful, condition.
I have no qualms about the quality of the coins in my “mish-mash” collection, but with three years experience in this market, I have come to the conclusion that I know a lot less now than I did when I purchased my first gold coin. Altho’ I am merely “treading water” at present with my investment, I would say that in comparison to other markets “treading water” might not be so bad. At any rate, I, too, am not convinced that further damage can be avoided, and the old adage “An ounce of prevention is worth a pound of cure” comes to mind, and I have been flirting with the idea of selling coins (some at a loss) and purchasing silver bullion instead.
My initial plan was to “hold” my coins for 5-7 yrs, which may or may not be a proper plan. It looks like a generic, gold coin should be in the domain of “day-traders”, tho’, and sold whenever the first opportunity at a profit presents itself. But I really don’t have a clue these days, and have missed a couple of chances, already, to do just that.
May I say, in passing, how much I enjoy your website, and how much I appreciate the liberality with which you share your knowledge and expertise with the likes of me. Good day, Sir and…”Thanks, again”.

]]> By: Dale Friend http://www.raregoldcoins.com/market-blog/cleaning-up-your-collection#comment-620 Dale Friend Tue, 10 Mar 2009 02:24:53 +0000 http://raregoldcoins.com/?p=2819#comment-620 Doug, Great advice, that I have been following for the last 18 months. The coins that sold at the summer 2008 ANA did fine, and the few I have consigned to dealers are moving, at adjusted lower pricing. As high end as my collection is, there are always coins that have slipped into the back drawer. And they are no longer of interest to me. At one time, I thought I would complete a type set in silver, and now, I still have quite a few examples in series that I do not follow. And then there are the duplicates that are nice, but not necessary. The proceeds can be put to good use( not the stock market, but maybe a car and TV.) Doug,

Great advice, that I have been following for the last 18 months. The coins that sold at the summer 2008 ANA did fine, and the few I have consigned to dealers are moving, at adjusted lower pricing.

As high end as my collection is, there are always coins that have slipped into the back drawer. And they are no longer of interest to me. At one time, I thought I would complete a type set in silver, and now, I still have quite a few examples in series that I do not follow.

And then there are the duplicates that are nice, but not necessary. The proceeds can be put to good use( not the stock market, but maybe a car and TV.)

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