I had a conversation with Linda, the blog author of Artifacts Collectors, she wanted to use the images of my Somalia Classic Sports Car coins in one of her blog posts. I then began to read some of her posts and found one that rang true with me.
In “How Much Do you Know About Your Collectibles?” she begins:
Part of what is so interesting about being a collector is the amount of knowledge you acquire while you are at it.
This simple, yet profound statement has greater meaning in numismatics during these economic times. Lately, collectors have been competing in the market with investors and speculators who are buying coins for their metal values with numismatic interest, such as classic (pre-1933) gold coins, or bidding up rare coins for their value and not as a collectible.
Dave Harper found out recently the differences in the mindset between the collector and investor during a recent seminar. Investors are buying silver for its silver values without understanding the nature of the coin market.
While we collectors like to see the value of our coins go up, we not only relish in the owning the coin, but what the coins says. Forget the fact that the 1909-S VDB Lincoln Cent is one of the most desirable coins by Lincoln Cent collectors, but what make it exciting is to understand why it is a great collectable. Or while the 1922 No “D” cent is as interesting as the 1955 Double Die Obverse.
Fortunately, over the last ten years there has been a an increase in the number of numismatic books that collectors can use to learn about their collectibles. We can read about the history of the U.S. Mint, the real life mystery of the most expensive coin to sell at auction, to one book for nearly every coin type.
With the growth of the Internet, we have sites that provide encyclopedic-like information, price guides, forums to discuss coin and currency collecting, and blogs for those of us who have a passion for the hobby.
Many years ago, Q. David Bowers, the noted numismatist, author, and dealer once said, “Buy the book before you buy the coins.” Bowers was convinced that the collector with knowledge would be able to protect himself from being taken advantage of when purchasing or selling coins. It is no coincidence that Bowers has been working with Whitman Publishing over the last few years to fill in the gaps of books for all U.S. coins series.
One of the goals of the Coin Collectors Blog is to help in the education process. Using my pursuits in collecting various numismatics, I enjoy researching the history behind these collectibles and share that information with you, the readers. I hope my writing has inspired you to learn more about your collection so you can share your knowledge with others.