Coin Collecting: Is it about the Enjoyment of Collecting or about Making Money?

[mrcruise]

1. Coin Collecting is about Enjoyment of Collecting Coins
2. Coin Collecting is about Making Money on Coins Purchased

[gweidion]

It is 1 but there are so many speculators that think it is 2 that screw it for those of us doing 1.
It's going down the same path as Australia Post and you can see where that has lead.

[WavyTwenty]

That is a tough question to have a definitive answer to.

On one hand there are usually some coins that one buys, perhaps overpriced too, because of the enjoyment of starting/finishing a collection.  

And on the other hand there are some coins that can be bought because ya just know that they will go up in value.

It's an added bonus when they both line up, but this isn't always the case.

I think, ultimately, more people would be collecting for more enjoyment rather than to make more money.  Enjoyment will keep a collector in the game a long longer than someone doing it for money.

For dealers though, it's about the money.  If they don't make a profit then they will get out of the game.

That is my thoughts on the matter, looking forward to what others have to say.

[Triggersmob]

1 for me, but when it's time to sell my collection, then I hope it's 2.

[serenitystan]

Number 2 is win some,lose some but it all evens out at the end of the line. Enjoy the journey.

[Mister T]

Only 1 for me.

[Sapyx]

Option 2 is not "collecting". It's either "investing", or "coin dealing".

It's entirely possible for someone to be both a collector and an investor, or a collector and a dealer. But it does add a complication. For a "collector", it's all about the coins, not the money.

[notcb]

Greetings,

I thought I would paste the following message which I sent to Jen, one of our regular members of this forum.  

It is especially relevant to the current topic.

"Hi Jen,

Thanks for the heads up.   I have taken the decision to stop collecting full stop!  

 I am totally disillusioned with the attitude of most collector(sic) who only seem to be in it to try and  make money.    The last few years have been a disaster for pure collectors with hours wasted on phone calls, ballots, queuing for hours at coin shows etc. for what apparently is people's sole intention of making money.   It has been especially prevalent since covid when lockdowns forced many to work from home during daylight hours. 
  
So I have drawn a line ending with the last of the Queen's obverse coins - which means that I pretty much can say I have been able to collect every Australian 50 cent coin issued (both RAM and Perth) and every PNC with a 50 cent coin starting from the 1966 Surfer's Paradise stamped 99 Company PNC through to the last 50 cent PNC's at the beginning of 2024 (Lunar Year issues).

I may be missing a few private issue PNC's with 50 cents, so I can always be on the lookout for such examples to add to the collection, but for the moment the line has been drawn.   

 Cheers  Peter  (notcb)."

[serenitystan]

There's plenty of large accumulations of Ram/Perth decimals at auctions where people payed good money for that sell for peanuts..

[Triggersmob]

So I have drawn a line ending with the last of the Queen's obverse coins 

I have been toying with that idea too. The market is getting crazy.

[Basilstate]

Coin market has always been a roller coaster,at the moment,and the last few years, the Mints have been flooding the market with trinkets which takes funds away from older,pre-dec Coin market.

As regards the pre-dec market its a good time to buy and consolidate whilst prices are low,it will swing back down the track.

Just my 2c in my 60th year of collecting,others my have a different view/opinion.

[pra666]

Coin market has always been a roller coaster,at the moment,and the last few years, the Mints have ben flooding the market with trinkets which takes funds away from older,pre-dec Coin market.

As regards the pre-dec market its a good time to buy and consolidate whilst prices are low,it will swing back down the track.

Just my 2c in my 60th year of collecting,others my have a different view/opinion.

I concur. I may also be in my 60th year of collecting as I was 6 when I started collecting from change (and the occasional purchase of a low grade coin from one of the Geelong dealers) and I'm 66 now.
I still love my pennies: have two to go.... https://www.pcgs.com/setregistry/oceania/australia/australian-pennies-complete-set-major-varieties-circulation-strikes-1911-1964/album/118292

[serenitystan]

Vey nice set of Australian pennies. I've been doing a GV1 set in PCGS RB. Still hunting the elusive 41y,42y and the 45y in 63-4 RB. "PHEW"...Have a 45y 64bn that should be RBI's and a 41m 64rb that's a kg but who am I to argue with PCGS..

[Basilstate]

Yes,great set and worth a few bob.

[autocoupler]

Loved the "old man emu" set of pennies.  :blush: :good: