New here and to numismatics
Therustyb
Posts: 35 ✭✭
Hi everyone. My name is Russell Boullion and I am new to the forum. Ive stacked bullion in the past and fell in love with the history invovled with Morgan silver dollars. I got myself in a jam and had to liquidate my stack about 6 months ago. I am back on my feet now and have decided to invest my money strictly in numismatics. Ive been kinda all over the place thus far. Buying expiring auctions on eBay for pcgs slabbed coins that are 10-20% under the pcgs price guide. Ive ended up with several morgans wheat pennies mercury dimes old halves etc.
I don't really have a goal perse. Just want to stack as many coins as I can that interest me and that i can get a "good" deal on. How do you guys collect your coins? Are shows a good place to get decent deals? I have some money to invest right now and I was going to goto the pcgs show next week if anyone has any dealers you'd recommend that are going to be at the show? Or have shows been replaced by e-commerce?
Anyway I just wanted to introduce myself and try to get to know you guys. I live in the Austin area if anyone has anything they are looking to sell let me know I'm very interested in learning and adding to my collection. Thank you to the mods for having this forum available and thank you for letting noobs like me join and ask stupid questions.
Russell
Comments
Welcome!
“Invest my money strictly in numismatics” is a bad idea. Investing should consider managing risk, and being “strict” ignores that maxim.
"Got a flaming heart, can't get my fill"
Welcome aboard, this is a great forum and you will benefit from a vast knowledge of a great pool of resources presented here
Steve
Many may disagree with me here, but there are better investments out there. Of course you can make money in numismatics if you have the knowledge on how to do it (hasn't happened for me). I will let others advise you on that since I'm only in this as a hobby.
I also once "stacked" numismatic coins myself. I would recommend that you don't, as they will not have the resale value that you would like. Remember, if you can buy it on Ebay below the price guide so can everyone else. When you collect bullion amount matters. Numismatics, quality matters.
If your looking for higher end coins I would recommend shows. Not only can you look at the coin in hand, the price in my experience are often more reasonable.
Welcome to the forum!!!
Welcome @Therustyb. I am also new here, too. I have found there is a ton of numimastic lore contained within the thousands of threads and tens of thousands post.
Enjoy the forum and San Antonio!
Have fun.
Not trying to throw cold water on your endeavors... simply trying to advise you as you move forward in this great hobby...
Over time you'll find that (with a few exceptions) the PCGS price guide tends to be about 20-30% above "market" price. Obviously nicer looking coins and coins with a CAC sticker will bring a premium, but generally speaking I wouldn't pay PCGS price guide money (or even 10-15% back of price guide) for a standard, average looking specimen of any non-key date or non-rare coin.
Just my two cents. But welcome, have fun with the hobby, and most of all: collect what you like.
Welcome to the forum. You can check my coins for sale to see if I have anything you want. Just click on the "coins for sale" in my sig line.
Your biggest investment should be knowledge. Learning takes time, and time is money but if you do it right, it pays off.
Welcome - you'll learn a lot here.
What is now proved was once only imagined. - William Blake
@Therustyb ....Welcome aboard.... Best of luck with your venture. Coin collecting is not generally a good investment... unless the coin is very rare and in outstanding condition...Those specimens are also very expensive. Cheers, RickO
Coins are not really an invest tool. They are something to enjoy. In the past collectors have made money on their collections over time by holding them. There was money to be made if you bought nice coins at reasonable prices that a fair number of other collectors enjoy.
Now the demographics seem to have changed. Not as many young people are getting into the hobby. I don’t know if there will be as many people there to buy your coins when the time comes to sell.
My advice is to collect what you enjoy and don’t spend money you can’t afford to lose on coins. It has been my experience that Morgan Dollars have been the most popular series among collectors who have a significant amount to spend. They do have an interesting political history, and there are many good books on them.
If you have any specific questions about the hobby, feel free to ask me. I’ve been a collector for going on 60 years. I’ve been a type collector of U.S. coins. A type collector tries to get one example of each design that the U.S. has issued for general circulation from 1792 to a specified date. I have cut my collection off at the mid 1980s because the U.S. mint issues way too many new coins in my opinion. I have every type coin minted before the mid 1980s, which comes to over 300 pieces. I’ve dabbled with everything in the “Red Book” A.K.A “A Guidebook of United States Coins.” For that reason I know a lot about U.S. coins in general.
Welcome! Certain dealers specialize in certain series - you will see that at shows pretty quickly. Since you mentioned Lincolns, there are several dealers that carry a nice variety of these at the PCGS shows. Good luck and happy hunting!
https://pcgs.com/setregistry/showcase/2819
Welcome to the forum and to numismatics. As others have stated, coins aren't a great investment tool. In terms of Return on Investment, there are other vehicles that greatly outperform coins. That said, I approach coins strictly as a hobby. I have a deep interest in the history of US coinage and try to understand the history behind each piece I have in my collection. Unlike other forms of entertainment, I can recoup at least some of the money I've spent. Sometimes, I even have made a little money. At this point, I think it's a "push". I can't say the same thing about going out to a movie, or going out to dinner. If you're looking strictly for ROI, think stocks, mutual funds, etc. PM's have historically been a hedge against inflation, but these days it's a volatile proposition. Best of luck to you!!
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Welcome.
Take some of the pieces you have and see what type of offers you get at a show. Give you some idea on what you can liquidify you coins if you need to.
Go to shows with a little bit of money and find things you like. Look around and keep an open mind. Often you find things which are just cool. Last weekend I added a 1546 Silver Denar from Hungary to my collection for that reason.
Read and absord as much info as possible.
Welcome aboard
http://www.pcgs.com/SetRegistry/publishedset.aspx?s=142753
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
My YouTube Channel
Welcome to the forum, I buy coins that I like that I think will hold their value but don't expect to turn any profit when I sell. More relaxed way to collect for me. I suggest going slow and asking plenty of questions, and reading.
Okay, I'm gonna say it... With a last name of bullion, you best be collecting silver and gold coins. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
Welcome, glad you're here.
Like others, I collect for pleasure and can only hope that they hold value.
Used to be that if you held long enough you'd be ok if you overspent. That is not realistic in many cases any more.
I don't buy with the intent to sell although I have sold a few duplicates and it's a sobering experience.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
@Therustyb
Welcome to the forum Russell
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
@Therustyb Welcome aboard, Russell. I hope you enjoy it here.
I collect solely for pleasure so I can't speak to collecting as an "investment".
Happy collecting. Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
Welcome! Awesome mustache too!
Coins are a hobby, not an investment. Bullion is better thought of as insurance than an investment. Only buy what you can comfortably pay cash for and pay off interest bearing debt before buying coins or bullion if you are not in the coin or bullion business. Just my 2 cents worth and probably what my advice is worth.
Hello.
Coin Rarities Online
Welcome to the group! My advice to you is to find a set that you really like and go with it. It can take a while to find something that you really like. When you do, let 'er rip!
In all honesty, there is so much to learn here. I think the hobby that compliments this one is reading. There is a wealth of knowledge here and feel free to ask questions, you will receive some great answers! I've been collecting since I was eight and while I have learned a lot, the process is very much on-going.
glad you found numismatics. look forward to seeing your posts!
I feel this point can't be overstated. Use www.pcgscoinfacts.com as a resource, not just for the PCGS price guide value, but also for recent auction results. If you're just buying coins on Ebay that are 10-20% below PCGS guide, you will likely be in for a rude awakening when you try to sell them. Wholesale prices for a lot of coins are in the 60-70% of price guide.
And welcome aboard! I too came to the board as a new collector...8 years later I'm still here and both my knowledge and collection have grown extensively during my time here.
This is more true the more common the coins. Prices on common date Morgans, Commems, common date Mercs is well below PCGS price guide. eBay is a retail forum. If you are getting coins 20% below the price guide you're using, the price guide is probably 20% too high. You can get some deals, but it is not a wholesale forum.
I would also reiterate what several others have said: coins are NOT an investment. 99.9% of coins, even if they are appreciating, do not appreciate at the same rate as the stock market or even the bond market. And many coin sectors are flat or dropping over time.
Enjoy coins as a hobby. Have fun with it. Enjoy your stewardship of the coins. And if you get any significant fraction of your purchase price back when you sell, consider it a win.
If you want to make money on coins, you need to be constantly moving coins, not stacking coins. You also need to know a LOT before you start or you will lose money more often than you make money. You need to understand the market, understand grading, possibly varieties in some series. You need to buy coins you don't like because the market does like them. You need to sell coins that you do like because there's a profit in there.
Stacking coins for long time frames, even bullion, tends to be a poor investment. Gold went from $35 to $2000 over about 45 years. In the same time frame, the stock market want form approximately $35 (equivalent) to $3128. If you bought it in 2000 ($400) an sold it at the peak in 2012 ($1900) you made out great due to the S&P trouble in the middle (S&P went from 1100 to 1300 due to the dip in 2009). On the other hand, if you still hold that gold from 2000, you about broke even as your $400 gold went to $1200 (200% return) while the total return on the S&P was 189%. And that is the best gold run outside of 1979-1981.
Absolutely true!
I knew that the Hobby of coin collecting ain't the same anymore. It STILL doesn't matter to me. I collect for the pure love of coins, their history, the stories about them, and what they mean to ME.
Sharing my knowledge, and gaining more knowledge from this forum is, UMM, the Key.......To ME.
Pete
......
"Inspiration exists, but it has to find you working" Pablo Picasso
Welcome, good luck in your collecting endeavors.
I too stacked for years. But, only one series and one mint. I collected and stacked GSA CC dollars and only that. Anything else I turned over and sometimes for a profit and sometimes not. But, after 30 years of collecting GSA's, I retired. Decided to sell my home with debt and buy another without debt. Found what I wanted and wife and I could afford but funds from the sale of my home were not enough to do what we wanted. So, sold the GSA's and generated a nice profit and nice check for the new home. Mission accomplished.....No longer stacking and just dabbling but having fun doing just that.
bob
Welcome!!
If you are trying to get a "good deal" on coins going by a price guide, you need to sell a few coins to get a feel for what the market and transaction is going to be like.
As others have mentioned, numismatics isn't a great area for investing, but it is a great area for having fun.
I'm not planning on selling anything. Investment was the wrong word to describe it. Store of value is more accurate. And a fun hobby. These coins will be something that I can leave for my children that will be fairly liquid with any luck. I made some wise decisions when I was in my early 20s and i invested some money when bitcoin was less than a dollar and it changed my life. I still hold a good deal of bitcoin today but sold a lot of it last year. This strictly a store of value for me. Apologize if i did a poor job of explaining that. I appreciate all the replies. Ive been busy and havent had time to get online but was pleasantly surprised when I saw all the notifications. I will probably say very little until I know enough to have something significant to add to the forum. For now I'm just going to sponge off yall for a while. Yall take care. Stay warm out there.
Welcome! Come to learn; stay to schmooze.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Welcome to the Board! You'll get a lot of great advice from some knowledgable folks here. Austin is great and when I lived there the local coin shop (McBride's Coin Shop) was a nice shop to visit with honest folks behind the counter.
If you are ever in East Texas on the second Tuesday of the month, please visit the Tyler Coin Club.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
Russell--if you're a PCGS member, come on down to the PCGS Members Only show on the Riverwalk in San Antonio Wed-Sat. ("Just a conversation away" from Austin...just watch out for the 18-wheelers on I35). You'll see stuff that'll knock your socks off!
Here's a warning parable for coin collectors...
Thanks for posting. I entered numismatics from a similar standpoint, it's a different coin market than 20 years ago. If you can buy and later sell with only a 10-20% decline you are doing ok.
Welcome aboard!
Welcome Rusty, glad to have you aboard.
I would echo what others have said. I do not consider coins to be an investment - I consider them to be a hobby. That said, it is possible to make money in buying/holding coins, but I'd suggest a more diversified approach where coins is not a main holding. I only started spending money in a big way until my 40s when I already had a huge nest egg and numismatic adventures were only a supplement to my holdings. Same goes for bullion.
Do what you wish, it is your money. Coins can be a good investment if you are careful, but they can also be a bust.
Once again, welcome. I look forward to your participation.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Collect a 7070 type set in PCGS plastic until you figure what you like.
welcome to the forums. theres a lot of good stuff here
I'll be there I have something pretty interesting to show someone that can hopefully help me make a wise decision on. It could turn into a lucrative thing for whoever helps me out. Ill see y'all tomorrow
Welcome to the greatest forum in the world!!!!! No really, this is an amazing place. And I agree with so many of the responses so far, too many to quote. Although @Smudge's comment is worth more than just 2 cents, and @jmlanzaf said it all quite nicely. I enjoy collecting for the pure fun of it, never sold anything, given away coins to family for birthdays and holidays, just enjoying the hobby and learning a lot right here.
welcome and enjoy
Just want to say to any new collectors or small dealers that may read this not to listen to all the nay saying in this forum. Ive never seen anything like it. I read a couple of books by David Bowers and armed myself with as much information as possible. Between thst and some buying power ive done exactly what a lot of these people on this thread said I wouldn't. For those that told me it was a bad investment and suggested I should tske my time id like to say that I've made a lot of money these past few months. Thanks for the encouragement. A lot of what I see going on in this forum and at the show's is nothing short of school yard bullying. Some of yall have egos the size of your house and are the reason that new collectors don't get involved. Bc they're told they can't do it without a dealer and it's a bad investment. Get real.
Whoa. Bam! What ya smokin tonight? You got lots of good advice here, but that doesn't mean someone can't make a few bucks in coins. You just have to be knowledgeable in the markets. Obviously you have figured that out.
I'm glad you've done well, and it's great to hear of your success. Please keep in mind that the fundamental theme of all of the input given on this board is the power of knowledge; clearly you have taken that part to heart. Also keep in mind the number of folks who have come here AFTER taking a haircut on some TGTBT deal- not even the sadistic few on this board like to see THAT. I may be wrong, but I don't think so. Your mileage may vary.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
After seeing some "experts" blow money on CAC stickers, I seriously wonder about their professed grading skills & I wouldn't follow a dealer's footprints through a minefield. You could be much better off with fresh eyes if you're careful.
My Saint Set
Fresh meat...