The Passion of Hunting
There is passion in hunting for varieties. This passion has created a lean or a bend (like a tendency) in my behavior and thought processes. For me - hunting for varieties is more exciting than buying attributed varieties. I do not know why since the end result is the same – the variety is obtained. There is just something about searching and searching and searching and then finally finding a variety. It is just different then purchasing one already identified. Do not get the wrong impression – I am not saying I think it is wrong to purchase labeled varieties. I am not saying that at all and I have purchased attributed varieties before. However, I am saying that it is less exciting for me. In fact, I almost value that coin less than if I had found it myself. It makes me wonder if other people feel this same way. The feeling is not exclusive to purchase transactions. I also feel the same way if I make trades with other collectors. Those attributed variety coins received as trades or gifts do not hold the same weight as if I had found the same exact coin myself. Does anyone else feel this way or am I just crazy?
To clarify, I am not referring to the academic study value of the coins, only the emotional attachment I feel towards finding varieties. The academic and scientific study of variety examples has a value that goes above and beyond what I am discussing.
Finding an unattributed variety in a roll, circulation, coin store, or at a coin show adds something extra. It is the hunt, the search, and (finally) the discovery! It is truly exciting. Now - this phenomenon also extends into online searching as well. I will search online auctions and online stores for unidentified varieties. That is still enticing to me as long as they are unattributed.
This tendency does lead me to occasionally make illogical decisions. In some cases, I almost value a variety that I have found more than the market value for an attributed example. For instance, a while back I found an unattributed BU 1938S RPM 2 on eBay and began bidding on it. I was out bid and quickly bid again to regain the winning position for the auction. It was pretty apparent that other bidders knew what the coin was an RPM. In the end, I was willing to pay more for the unattributed variety than I could have paid for an attributed example in the same grade range. Strange, I know. Maybe it was the excitement of the auction environment coupled with the fear of loss the experience creates. Either way, I thought it appropriate to mention.
Interestingly, I do know collectors who do not share my affinity towards searching and hunting. I have heard arguments that the time it takes to search is too time consuming. Further, I have heard people state that avoiding the time it takes to search is worth paying a premium for a variety piece. There is nothing wrong with that approach and I respect that. It makes complete logical sense.
That is what I like about the hobby – different aspects interest different people. So, who are you? Are you a searcher or a purchaser? Or … are you both?
But I must say I agree with you all the way. Its the hunt and pick and not the satisfaction of just buying outright. I have seen plenty of very impressive sets bought - not searched or bought raw and then slabbed, Just outright bought only to see them gone to auction in a few years. I think its because there is no passion in the collecting and after a while the enthusiasm wanes. Now don't get me wrong, Heck I have bought a ton of slabbed coins just to shove in holes, but the varieties I buy are more about knowing its a tough one to ID or it is truly scarce so I better grab it now. But that does not mean I stop looking for one after I bought it. I may use the bought one to sharpen my eyes in the hopes it finds one in the wild. I was actually grinning all the way home from Long Beach after a few successful picks, But on the other hand I have walked out of a show empty handed after teaching myself to be very dicsiplined. Then I look back and say, wow, you paid gas, sometimes plane tickets, hotels, food, and have no coin to show for your effort - I could have just stayed home and bought coin on line for the same money. However its not the same. Its mote fun to pick. And I justify those other cost by pointing out I get to meet fellow collectors/dealers face to face, enjoy the opportunity to see coins that are amazing that I do not collect, etc. Therefore I consider it an entertainment cost.
I will go one step further in saying its great to get to know a variety so well, you can help others find them also. I like finding varieties and seeing the different die stages. its just part of the fun.
WS