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13 Nov 2021

One Coin is Never Enough - BOOK REVIEW

Library | user_30405

Hi coin nerds (I hear that WAY too often)!


One Coin is Never Enough: Why and How We Collect, by Michael S. Shutty, Jr., Ph.D., is a fascinating (and somewhat humorous read).

Dr. Shutty starts with a story of his disturbing urge to buy a beat up 1973 Chain Cent for over a thousand dollars. He moves onto why we collect, explaining the fascination we have all felt towards a coin, and explaining Scott Travers’ and Q. David Bowers’ rational and enjoyment models respectively. He explains that the rational model moves from an accumulator to collector to investor, while the enjoyment model goes from accumulator to collector, usually interrupted by a brief stint as an investor. He uses these models to explain Marilynn Karp’s full pockets, deep pockets, and big pockets collector types. He explains that full pocket collectors are drawn to the flashy, big, bold, and expensive coins that contain a lot of intrinsic value (e.g. St. Gaudens Double Eagles). He moves onto deep pocket collectors. This type of collector is drawn to the well-known and valuable coins (e.g. 1856 Flying Eagle Cents). And finally big pocket collectors, these collectors, like me, focus on the overlooked, unknown coins that may have little intrinsic or extrinsic value.

In the second half of the book he talks about the “why” of the collecting urge and why collecting is addictive. Because of this many collectors are driven to a community where they are not met with blank stares while talking coins. As the topping on the cake, he finishes with the collecting cycle, which ends with numismatic bliss, a goal for all collectors.

Dr. Shutty, a clinical psychologist, makes this read feel a lot shorter than 250+ pages through his humorous and relatable stories. I would give this book 5 out of 5 stars, it was all that I could ask for and more than I expected when I borrowed this book from my local library!


Thanks for reading! Questions, advice, tips, and comments are all welcome.

Comments

Kepi

Level 6

Sounds good! I'll have to check it out. ; )

Longstrider

Level 6

I have always collected something. I'd wager most people here have done the same. It's what we do. Thanks.

Mike

Level 7

My reason for collecting is totally different from everyone elses. Brain damage.. My neurosurgeons recommended it to keep my mind sharp. It worked for a while. No more. But I enjoyed it. I became hooked now after 29 years of collecting I'm coming to a very small crawl almost stopping.I found the A.N.A. and I was very happy.

slybluenote

Level 5

This is a very informative and interesting post to say the least. I personally haven’t given much thought as to why folks collect coins! Thanks for posting, and I’ll certainly have to peruse this book if I see it!

Golfer

Level 5

Great review. Sounds like a good book to read. You made it sound very interesting and fun. Thanks, hope to find it.

AC coin$

Level 6

Nice blog, interesting .

thatcoinguy

Level 5

Wow! Sounds like a good book I may have to read.

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