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Found 2 results

  1. Much of this post is quoted from a response to a recent post by thisistheshow entitled, "Let me try this again, for the first time." I made a lot of points in that response that I thought are worthy of an expanded stand-alone post. In a nutshell this post is an autobiography of my 40+ years of collecting coins. Thinking back on my 40+ years of coin collecting I liken my numismatic experience to that of the Biblical parable of the prodigal son. I started my numismatic journey as a youth with type collecting. I was fascinated by the variety of coinage designs throughout our nation’s history. At the time I was also interested in odd denomination coinage. I soon bought a Red Book and wore out the bindings. I literally spent hours paging through that book dreaming of the coins I wanted to buy. It didn't take too long for me to become fascinated with the coins in the back of the book. No, they weren't the classic commemoratives but the gold coins and especially coins minted at obsolete mints like Charlotte, Dahlonega, New Orleans, and Carson City. Here again, I was interested in another type of type set, that of mintmarks. Still as a youth growing up in Wisconsin, I was glad to see a Wisconsin coin in the back of the Red Book! Today I proudly own a Wisconsin commemorative half dollar. Enter my time in the US Navy and my collecting took a different direction. From every foreign port I had visited I collected that country's circulating coinage. The same happened after I got married and lived in Europe for a year. Today, I still own many of these coins mounted in albums. Following this my prodigal journey into the numismatic far country began in earnest. This began several years of hit and miss but mostly miss in my collecting. At that time, I was collecting things like Silver American Eagles and modern commemoratives. In fact, I had so many interests I couldn't keep up with them all. It's kind of like the jack-of-all-trades but master of none. At the peak of my numismatic prodigal journey I started a collection of Morgan Dollars beginning with the New Orleans minted Morgan’s and toners. After this I thought, “why not collect them all.” For two years I was buying Morgan Dollars at a phenomenal rate. I even bought the granddaddy 1893-S in VG-10 condition. Following this I hit burn-out before completing the Morgan collection. This led to a momentary hiatus from buying Morgan Dollars. I thought that the Morgan Dollar hiatus would help to renew my interest in them but to no avail. I ended up selling most of my Morgan's including the 93-S. I did end up keeping the Morgan's grading MS-65 to 66 and all my CC mint marked coins including several GSA CC's. Keeping the CC's was the first indication that I was heading home, to my childhood fascination with obsolete mint facilities. Interestingly, this did not extend to New Orleans. Keeping the 65 and 66's grew from a love of numismatic beauty. This did not include the heavily abraded ugliness of lower graded MS Morgan's. Ultimately this may have been the main reason for my loss of interest. Concurrently with the Morgan's, I thought to collect Eisenhower Dollars. With those I completed the set in short order. Then I sat back and thought what now and sold most of those. Still I found what I had learned by assembling the Ike's to be a worthwhile experience. Serious numismatic soul searching brought me back home to my roots and type collecting. I just love the variety of our nation’s coinage, always have, always will. Now my focus is upgrading the coins in my type sets with coins that have higher eye-appeal. With these coins I am engaging my love of numismatic beauty. Notwithstanding, while I was in the numismatic far country, I discovered that I liked thematic and topical sets. I started sets entitled, "Inspirational Ladies, The Use of Seated Imagery in Numismatics, and The Coins and Medals of Laura Gardin Fraser". In all these sets I continue to add coins as I discover good candidates. When you boil it down what I really like is variety! Consider this, with the exception of commemoratives all the other far country sets were series-based sets. Thematic sets are based on a theme with DIFFERENT coins that match the theme! In these sets I can mix and match coins, medals, and tokens from all over the planet. I wish I knew how much money I wasted in the far country. Sometimes, I refer to the money I lose as the cost of learning and participating in MY chosen hobby. Think of it this way. Say a person likes to golf and spends hundreds of dollars if not thousands on green fees in a year. Is there any means for the golfer to recover his or her losses? No and even more significant you never here them complain about the money spent enjoying what they love to do. Still, I am not in this to lose money and I don’t like throwing good money after bad. Just like the prodigal son came to his senses after he wasted his inheritance so have I in terms of what I like to collect. Just like the prodigal son learned some important life lessons in the far country, so have I. In the end though, you still have to try different avenues of collecting if for nothing else to see if you like it. My problem was not that I started the Morgan set but that I put very little thought into it and went into a full throttle buying binge. When I came to my senses, I had already spent thousands of dollars! Now that I know what I like, I won't be taking any unnecessary journeys away from home and what got me interested in collecting coins as a young lad living under my parents’ roof. I have come full circle back to my numismatic roots. Please enjoy my picture collage of the many different types of coins, medals, and tokens from my collection. Gary
  2. gherrmann44

    Older and Wiser

    I always thought it to be a shame if a person only grows older without growing any wiser. People often classify such a person as a fool. Concerning my relationship to coin collecting, wiser after so many years has finally come! After going trailblazers buying Morgan Dollars several years ago, I had lost interest in the series and finally sold off much of my collection in 2017. Now my interest in Morgan Dollars only includes the following: MS-65 and higher Morgan’s, GSAs, and Carson City Morgan’s. The rest, more than 40 coins in all, were sold, most at a loss to acquire the coins that today represent my real passion. At that time several years ago, I was adding Morgan’s to my collection at a rate of two or three coins a month. E-Bay was an addicting and all too easy venue for me to buy coins. It became as if, “I see, I like, I buy.” Never mind if I saw a coin, bought it, and only a few days later saw one I liked better and bought that one. I often rationalized that purchasing the new coin was subsidized by the old coin. To tell the truth, I was compulsively and indiscriminately buying coins. This no-win situation only robbed me of my numismatic passion and subsequently turned me into a numismatic fool. My Laura Gardin Fraser collection has taught me the patience needed to not only enjoy coin collecting but to do it at a pace that is both reasonable and results in buying quality coins that will never need to be upgraded. You see, when the coins and medals you need in your collection rarely make an appearance on the open market, you have to learn patience. Patience then is a good indicator of passion. If I have no patience, I have no passion resulting in burnout. So far, I haven’t lost patience with my LGF set and now don’t expect that I will. In fact, I just picked up two scarce pieces at bargain basement prices, one with a mintage of only 30! I will post more about those later. That said, I will not be branching out into other numismatic ventures other than the following: • Allegorical and inspirational women featured on worldwide coinage. Since my wife’s mother died of breast cancer, I will be buying the “pink” gold half-eagle going on sale by the US Mint in March. • Seated imagery featured on worldwide coinage. • A US gold typeset featuring all the major varieties from 1834-1933, less the 1907 high relief St. Gaudens double-eagle. (Only the prohibitive price tag keeps me from acquiring that one.) • High-grade Morgan dollars, Carson City dollars, and GSA’s. • Final upgrades to my 7070 US type set purchased on my behalf by a dealer friend of mine. • …And of course my Laura Gardin Fraser coin and medal set! My dealer friend buys attractive coins for my 7070 type set from my want list in the grades that I can afford. My want list is a five year plan to acquire the coins that I will never have to upgrade and so finally complete a set that I will be proud to own going into retirement. This dealer friend also attends all the coin shows that I cannot. Thus, I am learning to patiently acquire coins via one of the oldest of collector venues, “The Coin Show.” Coins shows also give my dealer friend a chance to sell or trade my old coins at the best price possible. Therein is yet another opportunity for me to learn patience especially for my VG-10 1893-S Morgan. My friend held that coin for close to a year before finding a suitable buyer at the January FUN show. In 2017 I spent most of the proceeds of my Morgan sale to purchase coins to fill my gold type collection. Now only the no-motto half-eagle and no-motto Indian Head Eagle remain. Additionally, I am waiting until the spot price of gold goes much higher to sell the gold coins I purchased long ago and recently upgraded. This again is another opportunity for me to learn patience since many of those coins I purchased when gold was close to $2000/oz. In 2018, I expect my new purchases to be far fewer as I move more towards quality over quantity. So far this year with the proceeds from the 93-S Morgan I bought a beautiful E-bay purchased MS-64 1908 no-motto St Gaudens Double-Eagle and a FUN show pick-up, MS-66 1913 ty 1 Buffalo Nickel for my 7070 type set. I purchased both these coins with a couple hundred dollars to spare. Needless to say these two coins are not subject to upgrades as they are absolutely gorgeous for their grades. Through the patience of selectively purchasing only those coins that fit my narrowly defined passion, have I finally become wise.