My Journey: Retiring from Teaching After 30+ Years to Focus on Coin Collecting

I recently retired from teaching science at the college level after over 30 years of full-time work, plus another 20 years of stepping in when needed. It was definitely time for me to step away and embrace the next chapter, which for me means diving headfirst into my lifelong passion for coin collecting. In this post, I’ll share my personal experiences, practical tips for downsizing collections, and insights from managing real estate that surprisingly tie into numismatics.

Transitioning from Teaching to Numismatics

Leaving academia was bittersweet—I’ll miss the students, but not the endless admin work. Now, with extra time on my hands, I’m thrilled to ramp up my coin hobby. My wife has always been amazing at handling finances, and my son is president of our local coin club, so I’m surrounded by support. I’ve started dedicating more hours to organizing my collection, researching rare finds, and preparing to sell off some duplicates. It’s liberating to shift from lecturing on science to discussing the intricate details of coins with fellow enthusiasts.

Downsizing My Coin Collection

One of my first moves is reducing the number of duplicates in my collection, which I’ve accumulated over decades. Here’s my practical approach to downsizing:

• Start by cataloging everything: I use a simple spreadsheet to list each coin’s date, mint mark, grade, and estimated value. This helps identify true duplicates versus unique pieces.
• Focus on selling low-value duplicates first: I plan to list them on trusted platforms, emphasizing clear descriptions and fair pricing to attract buyers.
• Get coins graded: For anything valuable, I rely on professional grading services like PCGS or NGC to ensure accuracy. It adds credibility and can boost resale value—always check for wear, luster, and authenticity before sending them in.
• Set realistic goals: I’m aiming to thin out my collection gradually, not all at once, to avoid feeling overwhelmed. This ties into broader market observations; right now, demand for silver and gold coins is strong, so it’s a good time to sell common bullion pieces.

Financial Lessons from Real Estate for Coin Collectors

My experience managing rental properties—like the six houses we built and sold in Flagstaff—taught me valuable lessons that apply to coin investing. For instance, when we sold properties this summer and bought new rentals in California, we navigated capital gains and depreciation recapture. Here’s how I translate that to numismatics:

• Hire experts: Just as I consult a CPA for property taxes, I recommend working with a reputable coin dealer or appraiser for high-value sales. They help avoid costly mistakes, like underestimating taxes on profitable trades.
• Track your basis: With coins, keep detailed records of purchase prices and improvements (e.g., cleaning or conservation). This makes calculating gains easier and can minimize tax hits when you sell, similar to adding improvement costs to real estate basis.
• Consider exchanges: In real estate, a 1031 exchange defers taxes by swapping like properties. While coins don’t have an exact equivalent, I apply the mindset to trading up—swapping common coins for rarer ones to build value over time without immediate tax consequences.
• Manage risks: Just as property improvements can boost sale prices, investing in coin preservation (like proper storage in holders) protects value. But beware: over-restoring coins can damage them, so stick to professional advice.

Practical Tips for Enjoying Retirement with Coins

Now that I’m retired, I’m making the most of numismatics with simple, actionable strategies. I’ve learned to balance fun with responsibility—my wife handles the money side, freeing me to focus on the coins. Here’s what works for me:

• Join a coin club: Being part of a local group, like the one my son leads, provides camaraderie and learning opportunities. We discuss grading tips, like how to spot mint errors or assess wear using magnification.
• Diversify with precious metals: I allocate a portion of my portfolio to silver and gold coins, which act as a hedge against inflation, much like rental income did for us.
• Stay informed on market trends: I follow auction results and publications to spot opportunities, such as rising demand for historical U.S. coins or modern commemoratives.
• Set boundaries: With more free time, it’s easy to overspend. I set monthly budgets for new acquisitions to keep collecting sustainable and enjoyable.

Overall, retiring has given me the freedom to deepen my passion for coins, and I’m excited to share more insights as I go. Whether you’re a seasoned collector or just starting, remember that numismatics is about lifelong learning and joy—just like a well-earned retirement!