Comments on: If I Collected Coins What Would I Collect? http://www.raregoldcoins.com/market-blog/if-i-collected-coins-what-would-i-collect Douglas Winter Numismatics Wed, 01 Feb 2012 22:17:06 +0000 hourly 1 By: JL Riddell http://www.raregoldcoins.com/market-blog/if-i-collected-coins-what-would-i-collect#comment-1269 JL Riddell Sun, 15 Aug 2010 15:23:34 +0000 http://www.raregoldcoins.com/?p=3884#comment-1269 Doug, Yes, great blog. You describe human nature, especially the part where a collector starts out tentative and then builds confidence to buy higher end coins. That pretty much sums up my relatively recent (six years) entry into the coin collecting hobby. Another cost of churn is state sales/use tax. Yes, I live in one of those states and yes, I am a good citizen and pay the tax - 5%. That makes it hard to want to sell anything, and so I create duplicates when I have had the opportunity to make geniune upgrades, such as the one you describe with the AU55 1854-D quarter eagle. So, this behavior ends up developing a pretty interesting shadow set. What to do? Another topic: how long does a coin have to be held to be considered “fresh” when it returns to the market? 10 years, 20 years? Longer? In other words, what should be a serious collector’s time horizon, assuming it is not forever? I don’t want to leave it to my heirs to sell my collection, as I think that would be irresponsible. They don’t know what I know about the collection and the market. On the other hand, I don’t have any need or desire to sell any time within the next decade. Hopefully, anyways. I find it interesting that we collectors are always trying to build a “set”, that consists of all the dates of something. Why is that? I am certainly in that camp, and yet when you step back, you ask yourself, “why has it evolved that way?” Yes, there is a certain pride in becoming a specialist. Plus, this is what builds confidence. Hopefully, this element of human nature will still exist when it is time to sell. Otherwise, these little piece of metal have a whole lot less value. That also means that you need to live foreever, Doug. We are counting on you! Final question, are all pedigrees pretty much already created? Or, are new pedigrees being created today, when we look back from the distant future? When will the next big pedigree collection come on the market in our rare, pre 20th century, gold coin space. How many are out there that are worthy of this distinction? JL Doug,

Yes, great blog. You describe human nature, especially the part where a collector starts out tentative and then builds confidence to buy higher end coins. That pretty much sums up my relatively recent (six years) entry into the coin collecting hobby.

Another cost of churn is state sales/use tax. Yes, I live in one of those states and yes, I am a good citizen and pay the tax – 5%. That makes it hard to want to sell anything, and so I create duplicates when I have had the opportunity to make geniune upgrades, such as the one you describe with the AU55 1854-D quarter eagle. So, this behavior ends up developing a pretty interesting shadow set. What to do?

Another topic: how long does a coin have to be held to be considered “fresh” when it returns to the market? 10 years, 20 years? Longer? In other words, what should be a serious collector’s time horizon, assuming it is not forever? I don’t want to leave it to my heirs to sell my collection, as I think that would be irresponsible. They don’t know what I know about the collection and the market. On the other hand, I don’t have any need or desire to sell any time within the next decade. Hopefully, anyways.

I find it interesting that we collectors are always trying to build a “set”, that consists of all the dates of something. Why is that? I am certainly in that camp, and yet when you step back, you ask yourself, “why has it evolved that way?” Yes, there is a certain pride in becoming a specialist. Plus, this is what builds confidence. Hopefully, this element of human nature will still exist when it is time to sell. Otherwise, these little piece of metal have a whole lot less value. That also means that you need to live foreever, Doug. We are counting on you!

Final question, are all pedigrees pretty much already created? Or, are new pedigrees being created today, when we look back from the distant future? When will the next big pedigree collection come on the market in our rare, pre 20th century, gold coin space. How many are out there that are worthy of this distinction?

JL

]]> By: JLRiddell http://www.raregoldcoins.com/market-blog/if-i-collected-coins-what-would-i-collect#comment-776 JLRiddell Sat, 13 Jun 2009 22:28:06 +0000 http://www.raregoldcoins.com/?p=3884#comment-776 Doug, GREAT CHOICE.! Of course, this is what I collect, so I am partial to your selection. The 1840s and 1850s were such a fascinating period in US history, too. No one really knew in the 1840s that the nation would split into North and South. The parties were very different then, but slowly it became clear that there was a North versus South problem that was irreconciable and this shredded the parties of the day into pieces. Each year is interesting during this development. Of course, the nation was also slowly industrializing at the same time. The coins from this era are quite interesting in their many varieties and various levels of rarity. And, of course, they are undervalued in relation to, say, the double eagles of the 1850s. Doug, GREAT CHOICE.! Of course, this is what I collect, so I am partial to your selection. The 1840s and 1850s were such a fascinating period in US history, too. No one really knew in the 1840s that the nation would split into North and South. The parties were very different then, but slowly it became clear that there was a North versus South problem that was irreconciable and this shredded the parties of the day into pieces. Each year is interesting during this development. Of course, the nation was also slowly industrializing at the same time.

The coins from this era are quite interesting in their many varieties and various levels of rarity. And, of course, they are undervalued in relation to, say, the double eagles of the 1850s.

]]> By: John T http://www.raregoldcoins.com/market-blog/if-i-collected-coins-what-would-i-collect#comment-770 John T Wed, 10 Jun 2009 16:24:15 +0000 http://www.raregoldcoins.com/?p=3884#comment-770 New Orleans $5 and $10 are great choices with lots of history and rarity without breaking the bank. Let me offer another group of coins to collect that offer wonderful history and diversity: the coins from 1838 to 1840. This was a period of unprecedented change in many ways: three new branch mints opened, 2-year obverse mint mark types for $2.5 and $5, changes in half eagles from classic head to liberty head to finalized liberty head, and 2-years of the "head of 1838" eagles before the 65 years of the usual liberty eagles, with 1839 offering both types. These years also provide some highly interesting New Orleans silver issues: "no stars" dimes and half-dimes, no-drapery and drapery quarters and half-dimes, and the two 50c pieces of this period were a bust 50c with obverse mint mark and liberty seated 50c. Also, while some of these coins are very expensive in the higher AU grades, many are not and could be had by the collector with medium-depth pockets. New Orleans $5 and $10 are great choices with lots of history and rarity without breaking the bank. Let me offer another group of coins to collect that offer wonderful history and diversity: the coins from 1838 to 1840. This was a period of unprecedented change in many ways: three new branch mints opened, 2-year obverse mint mark types for $2.5 and $5, changes in half eagles from classic head to liberty head to finalized liberty head, and 2-years of the “head of 1838″ eagles before the 65 years of the usual liberty eagles, with 1839 offering both types. These years also provide some highly interesting New Orleans silver issues: “no stars” dimes and half-dimes, no-drapery and drapery quarters and half-dimes, and the two 50c pieces of this period were a bust 50c with obverse mint mark and liberty seated 50c. Also, while some of these coins are very expensive in the higher AU grades, many are not and could be had by the collector with medium-depth pockets.

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