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user_14581's Blog

23 May 2021

Chronicles of a Numismatist: Seeking Alpha

Coins | user_14581

Good afternoon this Sunday. It is a beautiful day here in Florida and thought I would post when I have not posted in some time. I thought last year was nuts? It has been a fun roller coaster this year. I took 5 months to reflect on my collection. Last year I made it a point to halt coin buying to analyze where I have come from and what my future plans are. I am unsure how many of us do this, as I know many who enjoy the thrill of hoarding or mass collecting. While I have enjoyed the sheer enormity of what the collection grew to I determined it was unsatisfactory in the over all grand picture and purpose. I could keep what I have or I could use it... use it to seek alpha.This is where I am now. I am in the beginning stages of essentially trading many - for few, or one. Sounds crazy, Sounds Insane, however for me I want quality. Actually I am like Pokemon’ for coin collecting in that “I gotta have them all” but I want to begin a process that I am sure is riddled with the skeletons of previous coin collectors but understanding something that they obviously did not possess and that is contentment.Seems counter intuitive to be content while verbally spewing “I am seeking alpha”. But I present this alternative reasoning, non contentment breeds poor decisions; while contentment breeds long term alpha. I don’t want this shiny widget here, or this modern piece there, or this lack luster semi key over yonder... contentment in one piece at a time. If that piece which is to be next never arises then so be it. Would I then go for the next piece? At what cost? If the cost is to still move forward and not worry about the needed piece then possibly, but if the cost is due to a lack of patience and just an insatiable need to buy coins and fill up the collection then my answer is going to be- No Coin Purchase. This is different than just having a plan and a defined list of coins... this is absolute contentment. Getting the collection to a point where I say, content from here on out. Reviewing annually to see where I am versus where I still have holes and taking time deciding what would be the next strategic purchase. Maybe it would be 5 years in between purchases but the strategic opportunities at that moment far and away excel and exceed than in a short term “drug addiction” to buying coins.I am not saying I am through purchasing coins, I am saying I am quieting down the coin buying demons to allow for alpha in my collection. Pieces will be considerably more expensive, far more rarer and that much more out of grasp than I have ever purchased. But in setting a goal and going for it, it will manifest. I was able to acquire a clashed die 2016 Silver Eagle recently for a price, if stated, would cause everyone to seek their dentist due to lock jaw of a mouth wide open. Purpose is not to brag but to say I focused hard on that coin, researching and studying and watching and from a source totally unexpected I was able to acquire said piece. Such a dramatic error. But it taught me a lesson that because of due diligence and contentment, as I started this mental exercise, I was able to be relaxed and calm and ready for the ultimate purchase of my lifetime... well second one as I had just purchased the 2008 rev 2007 Silver Eagle MS69 for a redonkeytron price too. No, not ebay, Yes from reputable dealers. So for now I leave with this new approach for me. And so we are all clear, contentment means too.. If I were to never purchase another coin - then - I - am - content. (I am not there yet but that is the goal... total contentment).

Comments

Long Beard

Level 5

Well put, contentment. I'm the same way, working on each series. When one that it needed fails to come up I move to another area. World coinage or medals, for instance, with extremely low mintage totals and in high grade. These are surprisingly common and well under any similar mintage U.S. coin/medal.

Mal_ANA_YN

Level 4

As my grandpa always tells me - collect what I like and the highest quality I can afford.

Kepi

Level 6

Interesting ideas! I have a budget too like most of us. My alpha coin is out of site... ; ) haha

Mr. Monetary

Level 3

When you put it that way, it makes coin collecting seem all the more rewarding and less of a "Get everything that you can" kind of hobby. Very insightful, thanks.

user_14581

Level 3

Yeah, it became over whelming with sheer size but then lack of “I want to hold onto that for 20 years or more”. We will see how this turns out. I am constantly evolving and looking for areas of change or improvement. But saying that sounds so robotic and it is anything but that; rather a sheer passion for our hobby and excitement for what is to come.

Golfer

Level 5

Contemplated my collection today. What a collection of miscellaneous stuff. I have accumulated quite a bit of oddball stuff now. I need to just concentrate on my main interests and keep it simple. I need to downsize for sure on the miscellaneous stuff. Maybe make it door prizes at the coin club meetings or coin club show ? nice blog

user_14581

Level 3

You know that is something I really forgot, I could donate my other pieces to my coin club that I am a member of. I have totally forgotten that. Thank You for sparking my memory... now I am thinking “What could I donate?”.

Mike

Level 7

Most of us are on a budget. Otherwise you can get in trouble real fast.

user_14581

Level 3

The budget is so incredibly important. Wish I could say I was perfect following mine. I have to even lessen the amount of auction and dealer inventory searches just so that I can practice discipline.

Longstrider

Level 6

Great idea. Too bad my budget is limited. My Alpha will be different from anyone else. Thanks.

user_14581

Level 3

I hear you. But if you think about it, It isn’t about comparing your alpha to anyone else, rather seeking for your own alpha in what ever possible term you can. I also love the first word in the phrase “Seeking Alpha”, Seeking. It is not called obtaining alpha. So by seeking your alpha possibly over time it may become a larger dollar amount or better quality or possibly more of what you live to own. Because ultimately it is your collection and as long as you are happy with it then my friend so am I.

I. R. Bama

Level 5

Interesting ideas.... Thanks

user_14581

Level 3

You are welcome. Anytime.

Mokie

Level 6

My budget is limited, I will never own so-called alpha coins so I concentrate on what interests me. In the past year I have concentrated on my Straits Settlements type set, it has no alpha examples but it's complete, it has a backstory, and it makes me very happy. I guess what I am saying is an Alpha is in the eye of the beholder and if you beholden limited funds, your alphas will be at a different level.

user_14581

Level 3

I fully agree. Your type set, to me, is alpha. You have put together something that you can share with fellow numismatists or non numismatists and when you do I am sure the passion comes through. That is AWESOME! I will be researching the type set to learn more about it as well. I totally agree though. Seeking Alpha has a connotation of huge returns monetarily speaking, but for me not so much. Rather returns in the satisfaction and happiness of what I was able to put together or strive for. If it happens to be rare or scarce then okay, but unique and overlooked is just as fine.

coinsbygary

Level 5

In an article for NGC, Jeff Garrett states that quality and eye appeal are the real market movers in coins today. Premiums for such coins are exceptionally high due to the demand for quality coins. I have long ago decided to focus on these types of coins for my 7070 typeset. I have upgraded many of the regular slot fillers to focus more on eye appeal. In the end, it's not about the high-grade coins but about those that I will be pleased to own for years to come and never have to upgrade. Here is a link to the article. I think you will enjoy it. https://www.ngccoin.com/news/article/9148/NGC-Weekly-Market-Report-May-20-2021/

user_14581

Level 3

Thank You. I will make sure to check out the article. Mr. Garrett is one whom I follow as much as possible when I can. He has had a couple of videos through the ANA and also Coinweek and they are priceless.

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