Observations from another hobby in the Wall Street Journal

Posted on August 18th, 2010 in Fakes,Hobby Trends by ramore

The Wall Street Journal yesterday had an article about coin collecting. Its a different hobby but several of the points discussed apply to our hobby as well (see my highlights). These are ‘truths’ for any legitimate collectible. Some, both the good about getting knowledge and dealing with reputable sources, and the bad – forgeries and misrepresented items are true in Scouting collectibles as well. The comments to this article pointed out that in coin collecting now, even some of the encapsulated packages are being faked.

How to Cash In on Rare Coins

By ANGIE WONG
George Lim began his coin and banknote collection 30 years ago with a single note, the first 10,000 Singapore dollar bill he received. “As soon as I made that amount, I saved it to remember it,” says Mr. Lim, a Singaporean real-estate developer, whose collection today includes over 100 rare coins and banknotes.

WOK_COIN_1

NGC (Numistmatic Guaranty Corporation)

The 1910 Yunnan Spring Dollar

Mr. Lim plans to auction 68 coins and notes from his collection in Hong Kong on Aug. 22. He hopes to cash in on growing interest in collectibles from mainland Chinese buyers who’ve already pushed up the price of rare stamps, wines and art in recent months.

The lots in the Hong Kong auction will focus on Southeast Asian and Chinese coins and banknotes. One item of note is a rare Yunnan Spring dollar dated 1910 with an unusual spelling mistake embossed on the coin. Mr. Lim spoke with Angie Wong in Hong Kong about collecting etiquette and how to safeguard yourself from picking up a fake. The following interview has been edited.

WSJ: What do you look for when starting a collection?

Mr. Lim: Rarity and quality. Quality is basically the condition of the coin, who commissioned the coin and when it was produced. But if the coin is rare, then the wear and tear isn’t as important, especially if only one or two survives.

WSJ: Do you think it is good to hoard a collection or sell it?

Mr. Lim: This is only a hobby. There are collectors who keep all the good stuff and leave nothing for others to collect. I think if you are collecting, you must release something from time to time [so other collectors can enjoy them]. I wanted to collect China silver coins, but all the top China silver coins are going into one person’s hands. So I had to go for Chinese gold coins instead.

WSJ: How do you know when to sell?

Mr. Lim: Let the market decide the price. Watch the auctions to see what is selling. Also know that auctions goes up and down with the economy.

WSJ: What tips do you have for someone who wants to start collecting?

Mr. Lim: Newcomers, especially those interested in Chinese coin collecting, need a base knowledge. Read lots of books on the topic. Get to know what each coin is about, and the story behind it. Talk to dealers as well.

WSJ: What about forgeries?

Mr. Lim: It is very common for forgeries in China, especially if the coin is worth a lot. The best thing to do is safeguarding yourself by buying coins approved by a recognized third party grading service.

If you don’t get them now, will you ever?

Posted on August 16th, 2010 in Hobby Trends,Jamborees,JSP by ramore

Just as I blogged earlier that we may never know what all was issued for the 2010 Jamboree, I am thinking there is a corollary. If you don’t get these now, will you ever be able to get them? Right now is the best availability of these. Prior to the Jamboree, eBay had around 74,000 items in the Boy Scouts category. Actually it had dropped as low as 64,000 in late July. Now it is over 81,000 after getting as high as 84,000. We were partly to blame for this bump. 🙂

In our trading we also picked some older JSPs but not many. Most of what we got were from 2005 but we even got some back to 1997. The older JSPs turn up from time to time but very few collections are coming out. Thus, if you are trying to fill in older issues you might find some local ones at local TORs or have to do an awful lot of searching on eBay and dealer sales lists for a long time.

I can tell you this is true about Jamboree neckerchiefs too. I have been picking them up for a few years now. I am more likely to find older, pre-1973, neckerchiefs than I am newer ones. The problem is the same as with modern JSPs. They are dispersed amongst 32,000 participants and are sitting in their closets/attics/basement. There they’ll sit for a generation or two.

More Lameness From The Post Office

Posted on August 13th, 2010 in BSA Info,General Commentary on Life,Hobby Trends by ramore

Earlier I blogged about how poor a design we got form the Post Office for the 100th anniversary of Scouting. I didn’t think they could be any worse but I was wrong. I bought some of the stamps the other day. Here’s the write-up on the back:

Since the creation of the international youth scouting movement some 100 years ago, hunreds of millions of children have benefitted from ooportunities for adventure, skill building, leadership, personal development, and community service provided by scouting organizations.

Normally I see “scouting” capitalized when we’re talking about the movement. It is the 100th anniversary of the Boy Scouts of America. The organization that helped with raising 100s of billions of dollars (in today’s dollars) of war bonds during WWI, providing food and supplies during WWII, providing the most service hours of any organization during the recent volunteer campaigns. The political correctness crowd has taken over the US Post Office. What a shame. Maybe we should not be surprised they’re a failing organization.

Troop Specific CSPs

Posted on August 6th, 2010 in CSP,Hobby Trends by ramore

One of the nights at the Jamboree TOR Bob Salcido of California and I were comparing patches. Some of the JSPs are hard to separate from CSPs. We were looking at a pair of Minsi Trails patches and concluded they were CSPs for the 100th anniversary and not JSPs. Upon closer inspection, we noticed that we had different troops. Over the next week I looked for them and came up with four. Talking with Bob later he said he ran into their Exec and the Exec said he was not aware of these. Does anyone know any more specifics? Is this a new trend?

Here are the four I found (Bob’s was one of these troops):

Post Jambo – Ungodly amount of staff patches

Posted on August 5th, 2010 in Jamborees by ramore

Within the group of not knowing what all was issued for this Jamboree are staff patches. The Collections merit badge, and I had nothing to do with these, issued at least 14 different patches (again I’m not sure this was everything.) On day two of the jamboree, I talked with collector Wally Majors of Mississippi who already had over 113 different staff pieces. Before the jamboree we took a call from a guy who made up a Scuba staff patch as that was the group he applied for but was turned down due to his health. But still he made his patch. I’m of the opinion that all of these are near worthless. I’m surprised at what the OA pieces are going for but my guess these will come down in price quickly. Time will tell.

Update: I forgot that there were also a MB Midway participant patch for sale at the trading posts, and two different staff patches available at the MB Midway headquarters (also not counting their staff shirt or the two staff shirts at our booth.)…The list is endless.

Post Jambo Live Blog – Base Closed Due to Volume

Posted on August 5th, 2010 in Jamborees,Uncategorized by ramore

This is an after the fact jamboree blog, in part because we were so busy I couldn’t live blog, but the Army closed the base to visitors on Saturday 7/30 at 11 am because the Scouts had filled up all available parking. I heard from my Scout Exec yesterday that the Scouts were expecting 30,000 visitors but had gotten 45,000 by the time they closed the base. He said an all-council e-mail went out from HQ notifying councils that the base was closed and that they could not take any more visitors. For those who want to question Scouting’s relevance, see NY Times article, they are wrong. Now are Scouts adapting to changing times as fast I would like? No. But, relevant? Yes. Actually, seeing the leadership deficits at all levels of politics and corporations I believe we need Scouting more than ever. Does it need to adapt? Yes. Overflowing crowds though indicate that we must be doing something that people want.

Also, my Exec said they had a ‘shining light’ gathering for the simulcast of the Saturday show. Very well attended. Very positive. The simulcast was a great idea by National. I haven’t checked to see if it is on YouTube. It would be good if it is.

Live Blogging the Jamboree – DyeSubs update

Posted on August 4th, 2010 in Jamborees,Uncategorized by ramore

Heard from one Scouter who had gotten dye sub patrol medallions for his troop. After about four washes they were all in the ghost patrol. Basically, the color washed out. Not sure if this is true for all or any of them but let me know.

Live Blogging the Jamboree – We’ll never know

Posted on August 4th, 2010 in Jamborees,Uncategorized by ramore

Troops began to depart at 3:30 this morning. Earlier when passing a group of Scouts in line I snapped the following picture:

Not once did I see one of these patches out for trade. My basic conclusion is that we will never know what all was issued for this Jamboree. Someone could collect this jamboree for the rest of their life and not have it all. Still though, it will give us things to look for.

Live Blogging the Jamboree – Sharpies

Posted on August 4th, 2010 in Hobby Trends,Jamborees by ramore

We have a new category of patches now – Sharpies. Some enterprising, or bored, Scouts took to taking magic markers, Sharpies, to make black ghost patches. Some of these were so good that one had to look closely. Below is a picture of an Indian Nations JSP done up this way. I saw a Blues Brothers Northwest Suburban also done up this way that was REALLY hard to tell it was doctored. We passed it around and most of us had to look real close, and not because of failing eyesight at least yet.  If it wasn’t for the marks on the red border one could pass it off as a black ghost.

Update: Found the Northwest Suburban Sharpie issue:

Live Blogging the Jamboree – Lessons from Collections MB

Posted on August 4th, 2010 in Jamborees,Uncategorized by ramore

While counseling the Collections merit badge, one of the questions I would ask was “Out of this group of four patches, which one is the fake?” I would set out an old Grand Canyon CSP with BSA but no FDL, an Ashie pre-FDL flap, a 479 NOAC flap, and an Echokotee privately made re-issue. I don’t think I ever had a Scout who got it right.

Some thought the Grand Canyon was a fake because it did not have a FDL. Everyone got the 479 right (it had a FDL but some were still guessing as it did not have printing on the back nor a hologram).

They almost all said the Ashie was a fake. Why? Because it did not have BSA or FDL or BSA printing on the back, none of my examples did, nor a hologram on the back. To a person they all said the lodge 200 flap was real. Thus the teachable moment. What you have been told is wrong. The only way to know is to get knowledge. And, until then trade 1 for 1.


[sales] [forum] [reference] [about us] [contact] [home]

Copyright © 1999 - 2009