I really liked this article!
Posted: Mon Mar 28, 2011 2:15 pmI do not understand the zeal collectors have over chasing collector-market-only bullion coins. They aren't everyday items, they never circulated, and have no more historic insight than The History Channel. I cannot see the appeal of spending 20% or more on premiums to buy the newest shiniest satin proof bullion coin. If it's silver you want, the same $150 will buy you a sack of junk silver at a coin show, pounds of Ag instead of just one ounce to show for your FRNs. So when I read this article, I could only nod my head in agreement:
http://numismaster.com/ta/numis/Article ... leId=18629
Excerpts:
"With all these new coins vying for our dollars, it is easy to forget that collectors were among the original eccentrics who saved stuff that others freely spent or used up. This was a period when collectors, and only collectors, determined what was worth saving and what was not. We turned common objects – like pocket change – into something special by forming sets that allowed us to interpret history and experience nostalgia.
Nowadays, marketers do this for us. Coins come in special packaging and cost more than face value – even new cents, useful only for paying sales tax, are sold by the Mint at a premium. In this regard, the initial costs determine what is special, as who would spend these glorified cents after paying a premium for them? I fear that the same corporate engineers who want us to buy limited edition boxes of Wheaties with Michael Phelps on the front have hijacked our hobby."
"Buy these hybrid concoctions if you must, but I urge you to set some money aside to start a collection of circulated cents, nickels, and dimes that were actually saved and spent. Perhaps I am being overly nostalgic to want a dime that was used to purchase a root beer float or saved for a red roadster, but I am certain that we are overlooking some of the most beautiful – and durable – coins ever produced. Frankly, I am surprised that we have allowed ourselves to ignore the allure of a coin softened by a thousand fingertips. "
http://numismaster.com/ta/numis/Article ... leId=18629
Excerpts:
"With all these new coins vying for our dollars, it is easy to forget that collectors were among the original eccentrics who saved stuff that others freely spent or used up. This was a period when collectors, and only collectors, determined what was worth saving and what was not. We turned common objects – like pocket change – into something special by forming sets that allowed us to interpret history and experience nostalgia.
Nowadays, marketers do this for us. Coins come in special packaging and cost more than face value – even new cents, useful only for paying sales tax, are sold by the Mint at a premium. In this regard, the initial costs determine what is special, as who would spend these glorified cents after paying a premium for them? I fear that the same corporate engineers who want us to buy limited edition boxes of Wheaties with Michael Phelps on the front have hijacked our hobby."
"Buy these hybrid concoctions if you must, but I urge you to set some money aside to start a collection of circulated cents, nickels, and dimes that were actually saved and spent. Perhaps I am being overly nostalgic to want a dime that was used to purchase a root beer float or saved for a red roadster, but I am certain that we are overlooking some of the most beautiful – and durable – coins ever produced. Frankly, I am surprised that we have allowed ourselves to ignore the allure of a coin softened by a thousand fingertips. "