Jul 204 min read

Do I need to be rich to collect silver or other valuables?

Updated: Oct 17

Do I need to be rich to collect silver or other valuables?

The honest answer of course is that it does not hurt to be wealthy if you are seeking to amass a beautiful and large collection of silver or of other valuable items. That said, however, a person of more modest means can certainly over time can accumulate a respectable and valuable collection.

Here are some tips on how to procure a fine collection:

Pick a specialty - Decide what you like and focus on that. Don't try to collect everything and anything just for the sake of collecting purposes. If you do, you'll be accused of being a hoarder or eccentric. You are best to focus in on a category and find things to add your collection based on your preference.
Be Passionate - Don't collect just because the Jone's down the street have a nice colleciton of gold coins and you want to show them up. Collecting is something you do for yourself and you should assemble a collection based on your passion and like for the items that you are acquire. If you aren't passionate, then don't collect.
Take your time - Whether you have all the money in the world, or whether you are on a budget and only have so much money to spend per year on collecting, you should always take your time and not rush rush to accumlate items for your collection. If you take your time, you will enjoy collecting much more and also be able to absorb each new piece with the fullest extent of learning.
Educate yourself and research - Learn as much as you can about the items category that you choose to pursue as a collector. This helps enrich your mind and also helps you avoid costly mistakes by avoiding forgeries and counterfeits.
Don't over pay - Once you get going and know what you want and are passionate about in collecting, don't get carried away and overpay. Almost 99.99% of the time there will be another item offered down the road that is comparable or similar or sometimes the exact match of what you are being offered or have found. If the item is priced too high and not worth the value, don't let your emotions overcome you allow you to pay more money than what something is actually worth. Play the waiting game and in the long run you will have more to show for in your collection.
Play the Long Game - If you are rich, you can accumulate faster. However, if you are not rich and just fanatical about collecting a certain category, just be patient and play the long game. Over just a few years and usually certainly over decades, you'll be surprised how large your collection can grow to. Patience will pay off.
Bargain Hunt - You can acquire things quickly and easily on-line, on Ebay, Etsy, at Heritage Auctions and other places if you are willing to always pay the full market value. However, it is far more enjoyable to acquire items for your collection that are considered to be bargain prices. When you look at your collection and see items you got a too good to be true price on, you'll always feel a sense of pride about that. Don't be afraid to negotiate and get better prices.
Curate your collection - If you just collect and throw the stuff in the safe or safety deposit box, that's absolutely no fun. You need to enjoy your items and curate them in your home or office in a beautiful display setting. Tinkering around with your colleciton will be some of the most enjoyable time you'll spend in life.
Have fun don't lament over items you missed - Collecting should never be stressful and more like a fun game. If you occassionaly lose out on an item you really wanted, don't beat yourself up too much and just focus on the items you did acquire and not worry abou the ones you didn't get.
Make goals - If you are collecting a certain category, it's good to make goals of items you'd like to acquire for the future. Some goals lists might take years or even decades to fulfill, but having the want lists of what you want better enable you to make these collecting goals come to fruition.

Conclusion: Enjoy watching your collection grow into something amazing over time. Don't just focus on the end game, but always make sure to savor and love this collecting ride along the way. Also, pace yourself within your budget and don't get carried away and break the bank to fuel your collecting passion. Collecting should always be fun and never be too stressful.