Five. In order of acquisition:
1. Cheap electric from Sears (Harmony?) that I got out of high school, horrible sound/feel, should pawn it.
2. Cheap acoustic no-name guitar, bought at yard sale, very high action horrible sound flaking paint job. Should also be pawned or just thrown out.
3. Takamine Jasmine acoustic, this is my baby, the one I play most often and learned the most from. Frets are a bit large but so far I've managed some pretty sounds.
4. Epiphone Embassy bass, I love this instrument, I'm just starting out on bass but I already think I like it more than guitar. It's certainly been easier to pick up but I haven't had a chance to jam with other players yet.
5. Daisy Rock Debutante electric... technically I don't own this one yet, but I will in a few days when it comes into the shop. A little leery of buying a "girl" guitar even though I am a girl but who knows, maybe it will be easier to handle than my full-scale Takamine. I've heard other girl players (and guys with small hands) give this company glowing reviews.
And I'm still at beginner level. I think at this point I like the collecting more than the actual playing, or maybe it's just that I don't have time for the actual playing. If/when I sell the first two, though, it will not seem so ridiculous.