I prefer the term collector! Hoarder sounds so reality tv'ish! I just put the bobbins in a bobbin case if there is still thread on them and the spools of thread on a spool rack. Then when I need that color again, I use the partial spool. I don't put more than one color on the bobbin, I just have extra bobbins!
I am new to the antique stuff so I haven't got a system down for that yet. I do know that old thread is a pain to sew with, but I can't bear to throw away the wooden spools.
It is funny in the manual for my Free No. 5, they say: "Don't use cheap basting thread purchased at the bargain counter at one or two cents per spool and expect to do nice work. This kind of thread is not made for use on sewing machines."
I say "Life is too short to use cheap thread"
Sandy