This is a collection of quotable statements or observations about numismatics that I find humorous or blatantly honest about the industry. Have no doubt. Coin collecting is a multi-billion-dollar industry.
The difference between a coin collector and a numismatist is that the latter owns more books than coins.
Buy the coin, not the holder.
Somewhat ironic in an industry that places its emphasis on independent coin grading, but it accurately reflects the subjectiveness and inconsistency of coin grading. One collects coins to admire them, and coins of the same grade can differ greatly in their appearance.
Buy the holder, not the coin.
This is a jab at the above quote, which acknowledges that certain types of holders, especially older ones, can increase a coin’s value. Many collectors seek coins in specific holders, and others believe grading standards were stricter in the past, suggesting that the enclosed coin may merit a higher grade under today’s standards. Again, an indictment of the subjectivity and inconsistency of coin grading.
Buy the book before you buy the coin.
Coined by Aaron Freeman in a book advertisement found in the March 1966 issue of The Numismatist. The quote emphasizes education for beginning coin collectors.