Coin Collecting Philosophy

Coin collecting combines history, a connection (for many of us) to some wonderful childhood memories and the opportunity to apply multiple disciplines and skills. Introvert, athlete, nerd, super model - all are welcome in coin collecting. A successful collection can be built by bulldozing your way through auctions or spending years patiently looking for the best coin at the best price.

For me collecting is about pride of ownership, the thrill of the chase and spotting value others may miss. My wife asks why I never look at my coins. Hmm, that does seem odd. I look at the pictures though and regularly send coins to PCGS for TrueView images so I can enjoy them in all their glory. I guess if I collected lots of Morgan’s I would look at the coins themselves more but it is hard to enjoy gazing at small coins unless you use a loupe. Even eagle eyed Mrs. CC had trouble seeing the V.D.B. on my 1909 Lincoln.

I am not an adherent of some of the truisms put out by the collector Illuminati. An example is the frequent exhortation to “learn to grade”. A collector is not professionally trained and does not have the knowledge base the experts do. Heaven knows I’ve tried. I take the online tests. I read the books. I don't think it feasible for an amateur to become a knowledgeable grader or maybe I simply suck at it. I am also tone deaf, wear glasses and have a poor sense of smell so maybe grading can’t be mastered by someone with poor senses. If you watch grading challenges on YouTube though even the experts vary and disagree. I rely heavily on eye appeal and strike.

I always look for quality and not simply to fill a hole in a set. Since I prefer quality that means there are many series I can't afford to collect. A collection of mint state 20th century double eagles would be prohibitively expensive. I have a type set of 20th century gold coins going but that is all.

Coins are a store of value. How many CD’s, video games and Beanie Babies have we all trashed over the years? If I decide to stop collecting in ten years I am confident I will recover a good portion of my hobby costs. Coins have liquidity that other collectibles don’t. When I settled my mother’s estate all the porcelain figurines she collected at great expense were difficult to even give away. Many are in storage now and likely will be until I am gone myself.