
It looks like this weekend might be good for detecting here on the Treasure Coast. The waves are expected to increase and it looks like we should have some nice northerly winds for a while. Before that we'll have some west winds and an opportunity to check the low tide areas. I'll stay on top of this and let you know if and when the beaches start to erode.
One question you hear a lot is, "What is it worth?" The answer you often get is, "It is worth what someone will pay for it." And that is true. But that only considers economic value, which may not be the same as the value the item has for an individual. An individual might find a particular item desirable, but not be able to pay enough to purchase the item. The item then has value to the individual that goes beyond the economic value. The value of that item for that individual would be highly personal and perhaps contain a value that is due to some particular connection of that item to that individual or his family. The item might have belonged to one of his ancestors, for example.
The photo today is of an item that was found on a Florida beach. It was found as it appears in the photo - in a clear plastic case that kept it dry even though it was found below the high tide line. In my opinion this is one type of item that you just have to wonder what it was doing on a beach? Why would someone have a .999 silver casino gaming token on a beach and why would they handle it in such a way as to lose it? Who knows, but all kinds of strange items can be found on our beaches.
But what I wanted to discuss today is the idea of value. The value of an item to an individual, might not be its actual economic value (what you can get someone to pay for it). The economic value of the item will be determined to a large extent by a combination of different types of value.
I chose the item in today's photo because it illustrates a number of different types of value. First, it has value as a precious metal. That value changes on a daily basis as the value of silver changes. Second, it has a set economic value set by the casino. Third, it has
collectible value. There are people who collect casino chips and gaming tokens.
So far I have named three types of value; precious metal value, economic value, and
collectible value. Almost everything I can think of potentially has
collectible value. There are people that collect rocks, shells, barbed wire, bugs, beer cans, chicken related items, Pee Wee Herman items, etc. You name it and there is a good chance that you can find someone somewhere that collects it. If someone collects it, it probably has some economic value, if there is not an over-supply and you can find a person that collects that type of item.
There are other types of value. For example, there is aesthetic value when people find an item attractive or pleasing to look at. There is rarity value when such items are unusual or difficult to find. There is historical value when an item relates to a historical person, event, place, or time. There can be nostalgic value. Often an item that relates to the fifties, sixties or seventies will have higher economic value than that of a very old or fine antique because people relate to things that remind them of a particular period of their life. There is informational or educational value in items that provide good examples or illustrations. There is also personal value - when an item has a personal connection to an individual or family. A class ring, for example, might have a personal value for the individual that wore it that adds to the other types of value it might possess.
In general, the more different types of value possessed by an item, the more it adds to the economic value of the item. You might often find it surprising what price an item will bring. Many people are surprised that anyone will pay good money for a rusty iron spike, for example. What they don't realize is that even though it has no precious metals value and maybe no aesthetic value, it might have some historical value and/or
collectible value. As you might know, there is a group of people that actively collect nautical items, especially those that are connected to a particular period of history, or even better, a particular wreck.
Although understanding the various types of value will help you get more money for items you choose to sell, I am more interested in helping you gain a greater appreciation of the items you encounter. Marketing (connecting items with people in a way that those people will appreciate the various types of value possessed by an item) is a matter of making value known to others.
By researching and preserving items, you can actually add value to items and at the same time add value to the community by sharing that value and your knowledge with others. It can be an educational activity and personal enhancement for yourself and those with whom you share. As you learn about the things around you, you add greater meaning to your life and the lives of others.
When you find an item think about the various types of value it might possess. Think about the types of people that will see value in those items. I think that will add greater meaning and value to your finds and your life.
Sometimes people think that selling an old item, especially something like maybe a fine old book, as nothing more than a cras commerical activity. But I enjoy selling items that I appreciate but can't take care of, because the person that is willing to pay a good price for an item, generally appreciates that item or will find someone that does. That means the item will find a good home where it will be treasured, preserved, displayed, and shared. To me, that is the important thing.
I hope to have some of the realized prices of the latest
Sedwick auctions for you before long. I'm personally eager to see that.
I might add the Encyclopedia of Civil War Shipwrecks to my list of links. I'll try to determine how many people want to see that.
Oh, and I have to pare down my
hardcopy research book collection. I have a 1938 copy of the Life of Andrew Jackson, which contains a lot of illustrations and maps, that I will be selling and also a nice large book on the Incas, Maya, and Aztec that I don't need anymore, and a lot of others. Maybe I'll list the details of those books in this blog sometime.
I need to make an index of posts. There are some that I don't want you to forget about, like Bill's process for cleaning silver cobs that was posted back at the end of last year.
Well, we have a promising detecting weekend to look ahead to and I have lots of other topics for this blog. Let me know what you would like to hear more about.
Happy Hunting,
TreasureGuide@comcast.net