Collecting

We all collect or save things. Some, like stamp collectors, do it formally and meticulously. Others do it informally, saving things they think might be valuable someday, such as a commemorative issue of a magazine. But as we mature (read: get older), what we save changes. The things we once thought were valuable no longer interest us.

Of course, there are some who begin collecting things early in life and continue until they themselves expire. I call these people "collecting fans." The word "fan," as used in this context stands for "fanatic." And that’s what you have to be if your collecting habits don’t change. For the rest of us, what we stop collecting becomes fodder for Ebay.

Here’s an example. I became a coin collector, or numismatist (to use the official five-dollar word), at about age 12. I started with Lincoln cents (they are not officially called pennies – the penny was a British coin), and gradually moved to larger denominations as my allowance allowed. In those days, most coins had intrinsic value, especially the higher denominations, which were 90% silver.

When I got married, I began collecting proof sets. These are specially struck and polished coins sold enclosed in plastic by the United States Mint. When I had children, I increased my proof set purchases each year by the number of children I had, on the theory that they could each have their own set without fighting over mine. A few years later it dawned on me that my children did not share my hobby, and indeed, had no interest in the proof sets. The sets themselves, while pretty to look at, did not increase much in value over the years. At one point, I realized that all I really needed was one set per year for me to enjoy. But each year’s purchase was packed away in a drawer somewhere and I never looked at it. Finally, it became clear that these purchases were no longer necessary and I stopped collecting proof sets altogether.

Today, I have lost all interest in coin collecting. The 50 state quarters now in production were supposed to boost interest in the hobby, but the circulated coins are so poorly struck and made of a non-valuable composite material that I lost interest in them long before the last coin rolls off the stamping press.

As with proof sets, I figure that if I ever rekindle my desire to collect them, there will be plenty available on the open market.

For now, my money is better spent on things other than money.

Things like a few gallons of gasoline or home heating oil.

Talk about having money to burn.