Pleasure & Profit coin book on horizon
- Published: Sep 29, 2014, 6 AM
Longtime collector and retired international banker Robert W. Shippee shares his secrets in building a type collection of U.S. coins in his upcoming book, Pleasure and Profit: 100 Lessons for Building and Selling a Collection of Rare Coins.
The 320-page book, a release by Whitman Publishing, will be available for $9.95 retail from Whitman and booksellers and hobby shops nationwide, and online beginning Nov. 11. Pre-orders are now being taken. The reference will also be available for loan free from the American Numismatic Association's Dwight N. Manley Numismatic Library as an ANA member benefit.
Shippee reveals how he got serious about building a type collection of rare coins, carefully assembling the Waccabuc Collection of half cents through $20 gold double eagles, and later sold them at public auction. Shippee shares, not only his highly profitable purchases, but also the "duds" and costly mistakes. Shippee analyzes each purchase of 100-plus copper, nickel, silver, and gold coins, capping each analysis with a valuable lesson learned. His story ends with a $1.5 million sale at public auction.
Shippee supplements his real-world advice on acquisition strategies, storage choices, and disposition options with commentary on grading services, auction houses, famous dealers, numismatic personalities, market forces, and his financial results.
A chapter on “Finances: Final Scorecard” compares rare coins to stocks, with an analysis of different indexes. Shippee breaks down the biggest losers and the biggest winners in his basket of coins, and looks at the results by denomination, by century, by metallic composition, by grade, and by holding period.
“Bob Shippee shares his advice with a relaxed storyteller’s wit,” says Whitman publisher Dennis Tucker. “His text is about coins, but it’s also about golf, whiskey, friendships, and other good things in life that are attached to his experience as a collector. His storytelling makes the lessons fun and interesting.”
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