I am often asked by members of my local coin club -- where I am the Education Director -- to give a tutorial on collecting. More annoying, I am asked to share the secrets of investing. How unfortunate, I often think.
There is no "proper" way to collect.
There is, I suppose, a proper way to invest money in coins. But who cares? The necromancer collector does not care! Life is too short to ruin this fun hobby with money grubbing concerns or vain aspirations of heroism.
Life is also too short to allow someone else to tell you how to enjoy collecting coins. To do so is like asking an expert how to enjoy ice cream. I can hear it now: "Always start with vanilla; and after a you get a few pints under your belt, then move to chocolate." "Oh, and remember to lick it with tip of your tongue not the flat section in the middle." Yea, right.
Is this it? Dates and mints? Go further; get creative; give these dimes more to say! |
The coin folder indoctrinated us. The Red Book shaped us. We began paying attention to dates and mint-marks. We developed set completion goals. Eventually, we specialized in a series like Lincoln cents or Mercury dimes.
And so it goes.
We adopt a rational collecting plan in accordance with the archival traditions we have seen in those stodgy museums we visited in the 6th grade. We strive to assemble of string of coins, in order by date and mint. How exciting is that? Rows of Mercury dimes can lead to boredom and nagging questions about the meaning of it all.
P-D-S, P-D-S ... Why do we need them all? Was there ever a cash register in a corner store that contained a complete date-mint run of Mercury dimes? Put another way, does a complete set of dimes really take you back to simpler times? Why not do something more creative? Why not create your own set.
Now I have to concede that there is nothing wrong with traditional set collecting. Maybe you are studying them to explore how the series evolved. Maybe you are one of those collectors that has an obsessive-compulsive kink in the mid-brain, and you are desperate to get them all. Or perhaps it is all about keeping the hunt going. All these factors notwithstanding, my question to you is this: Did you consider other alternatives? Did you choose your own path?
Creating sets is the hallmark of collector. Why choose the prepackaged approach? Do your own thing. Do you have to have the 1916-D? Maybe you do; maybe you don't. But the answer lies with you, not the experts, not the Red Book, not the folder.
Consider this: If you discovered an old register bank full of coins and untouched since 1950, what would be in it? Now, this would be an interesting collection. Each coin would have to be selected for a reason. And yes, maybe you could spike it with a 1916-D -- but at least it would not be because a vacant hole in blue told you so.
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