Welcome to the New Year. Have you heard the expression “New Year, New You?”. Is that true for coin collectors as well?
For collectors of brand new mint products the New Year always brings something new to collect. New commemoratives will come out that depict events from 50, 100, 150 or more years ago. Some examples from the US Mint for 2016 include the National Park Services commemorative and the Mark Twain Commemorative coins. There will also be gold coins commemorating the coins of 1916 – The Mercury Dime, Standing Liberty Quarter and the Walking Liberty Half Dollar. These coins should be spectacular and very popular.
So we know that modern coins bring new things to the collector, but what about folks who don’t collect modern mint pieces? Do you, or I, change our collecting ways in the new year? Should we? First of all, if you’ve never made a road map or outline for your collection, then you may want to consider trying it. A quick set of goals will make collecting more enjoyable. Consider these questions:
-What series of coins will you collect?
-What grades will you accept?
-What price ranges?
-What will you NOT buy?
-Will you buy only slabbed or only raw or either?
Thinking about these things will help you find the coins you like and know when to make a purchase and when to pass on a coin. I recently had a customer make the change to only buy certified coins. And only within a certain grade set. And only within a certain time period. And only within a certain size (or denomination). Now when he is at a show or a shop and he finds something that does not meet all his criteria then he will pass on it without any regrets. But if it meets all his criteria then he feels comfortable with his purchase.
Another customer has decided to go in an entirely new area of collecting. He previously didn’t do any foreign coins but now has fallen in love with ancients. This is his knew target. He is starting to learn and buy a little bit here and there and is enjoying the process. If you’ve been considering a different series, now may be the time to start. It can really rekindle your passion.
So what about you? New Year, new you?