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Update, Received $200-What to do? CBH!!

TunisTunis Posts: 429 ✭✭✭✭
edited February 23, 2019 5:43AM in U.S. Coin Forum

Just sold a sports card. Have been slowly selling that collection to add to my coin collection. What should I send it on?
-Proof Lincoln Memorials to add to my Registry Set
-A crusty 30-45 grade, Bust Half from David Kahn
-Is it time to buy a reverse proof, 2018 Kennedy half, Sacajawea dollar, or Block Island quarter to come closer to collecting the First Strike set?
If none of above, what would you spend it on?
All opinions accepted, thanks in advance

Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2

Comments

  • CatbertCatbert Posts: 6,549 ✭✭✭✭✭

    A colorful original Indian head cent.

    "Got a flaming heart, can't get my fill"
  • santinidollarsantinidollar Posts: 1,055 ✭✭✭✭✭

    $200. That’s a good amount to add to the dry powder magazine.

  • bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    never say the words first strike and collecting in the same sentence. That shouldn't ever be a thing

  • bolivarshagnastybolivarshagnasty Posts: 7,348 ✭✭✭✭✭

    @bronco2078 said:
    never say the words first strike and collecting in the same sentence. That shouldn't ever be a thing

    Agreed. Stay away from modern stuff. It's a losing proposition most of the time. A single $1000 coin will do better long term than 10 $100 dollar coins. Quality over quantity.

  • davewesendavewesen Posts: 5,762 ✭✭✭✭✭

    save it for a rainy day fund... you never know when something comes up that you a little short for

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    Rainy day?...hell, it is raining now. Pick up some 90% silver. I like the Walking Libs.

  • TunisTunis Posts: 429 ✭✭✭✭

    I appreciate all the advice. I understand about moderns. More for the challenge vs. long term value although I have been picking them up cheap when I can.
    Few follow up questions:
    I can add a more to the total shortly. I have have plenty saved for a rainy day, so no problem there.
    -I own no Walking Libs, what would be a good representative coin and what grade?
    -Same thing with gold, I have none but I would like a coin vs. bullion. Also U.S. gold. Any suggestions?
    -I like the idea about saving to $1000 and then buy a huge coin(for me). Maybe a high grade Bust Half?

    Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2

  • JasonGamingJasonGaming Posts: 926 ✭✭✭✭

    In my opinion, save it. Once you reach $500 or more, buy something you really like, unless you’re looking at something that caught your eye under $200.

    Always buying nice toned coins! Searching for a low grade 1873 Arrows DDO Dime and 1842-O Small Date Quarter.

  • santinidollarsantinidollar Posts: 1,055 ✭✭✭✭✭

    If you’re lost on how to spend it for sure, that would be an excellent reason to set aside for a while.

  • lkeneficlkenefic Posts: 7,741 ✭✭✭✭✭

    Don't let it burn a hole in your pocket! It's been my experience that any time I spend a little money like that on coins, I end up getting something "less than" what I'd be happy with. If you spent just a little more on that CBH, you'd be able to get into a solid XF-AU coin...

    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    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.
  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭

    Save your money until you have a solid numismatic objective.

    All glory is fleeting.
  • markelman1125markelman1125 Posts: 1,771 ✭✭✭✭✭

    If I were you I would save it and spend it on an auction for a coin you really want 👍

  • markelman1125markelman1125 Posts: 1,771 ✭✭✭✭✭

    Though if you want to get a coin now you can get a nice Morgan in Ms 65

  • airplanenutairplanenut Posts: 21,881 ✭✭✭✭✭

    @TheRegulator said:
    Add it to the powder chest.

    Saving your money might sound boring, but will help you to be ready when the right piece comes along. Your collection will be better in the long run.

    This is exactly what I was going to say. I'll provide an example in a different way. When I first started going to shows, I thought it was like losing if I left without anything new in hand. If I couldn't find something I really wanted, I'd buy something else. I ended up with a bunch of coins I didn't really want. I'm much more disciplined now. I can go to a major show, find nothing in 2 days, and leave without ever opening my wallet, and I'm happy knowing I didn't sacrifice my standards just to get something. Just the same, when I have the money for the right coin, but the right coin isn't available, I don't buy something else with the same number... I wait. Some of my prize coins have been acquired after looking through tens or hundreds of examples until the right one came along. I think my collection is much better for this.

    So back to the original piece of advice. If you were planning to buy one of those pieces and just needed the money, now you can choose one. If you are looking to buy something simply because you have the money, wait. Wait until a coin really speaks to you, and then you have the money available. Maybe you'll sell a few more cards and can afford something nicer. Unless you're looking at coins that are so rare skipping one may mean you'll never get it, you should never feel rushed into making a purchase. Take your time and be smart with your money. It doesn't always provide instant gratification, but you'll be much more satisfied with the final result.

    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • pocketpiececommemspocketpiececommems Posts: 5,723 ✭✭✭✭✭

    Modern gold $5 commems close to melt

  • LakesammmanLakesammman Posts: 17,282 ✭✭✭✭✭

    Wine, woman and song - the rest I would waste. :D

    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko.
  • ColonialcoinColonialcoin Posts: 618 ✭✭✭✭

    You should step back and count to ten because you are all over the map in regards to what to buy. I’m not going to suggest to you what to buy, but you should make sure what you buy will make you happy. Don’t force the issue!

  • davewesendavewesen Posts: 5,762 ✭✭✭✭✭

    how did/do you collect cards? a few high valued ones, or many lower valued?

    If you had a $1000 coin collection, what would you rather have? 100 $10 coins, 50 $20 coins, 20 $50 coins, 10 $100 coins, 5 $200 coins, 2 $500 coins or 1 $1000 coin.

  • david3142david3142 Posts: 3,388 ✭✭✭✭✭

    @bolivarshagnasty said:

    @bronco2078 said:
    never say the words first strike and collecting in the same sentence. That shouldn't ever be a thing

    Agreed. Stay away from modern stuff. It's a losing proposition most of the time. A single $1000 coin will do better long term than 10 $100 dollar coins. Quality over quantity.

    I agree with you about the modern stuff but I doubt there is any evidence for the second claim. You can have a high quality $100 coin or a low quality $1000 coin. You can’t just compare the two by price alone. Also, it is highly likely that the variance of return for the 10 coins in aggregate is lower than a single coin so modern portfolio theory would say to prefer the diversification.

  • bolivarshagnastybolivarshagnasty Posts: 7,348 ✭✭✭✭✭

    @david3142 said:

    @bolivarshagnasty said:

    @bronco2078 said:
    never say the words first strike and collecting in the same sentence. That shouldn't ever be a thing

    Agreed. Stay away from modern stuff. It's a losing proposition most of the time. A single $1000 coin will do better long term than 10 $100 dollar coins. Quality over quantity.

    I agree with you about the modern stuff but I doubt there is any evidence for the second claim. You can have a high quality $100 coin or a low quality $1000 coin. You can’t just compare the two by price alone. Also, it is highly likely that the variance of return for the 10 coins in aggregate is lower than a single coin so modern portfolio theory would say to prefer the diversification.

    My last sentence says "Quality over quantity". That's what I was going for.

  • ARCOARCO Posts: 4,305 ✭✭✭✭✭

    @Tunis said:
    Just sold a sports card. Have been slowly selling that collection to add to my coin collection. What should I send it on?
    -Proof Lincoln Memorials to add to my Registry Set
    -A crusty 30-45 grade, Bust Half from David Kahn
    -Is it time to buy a reverse proof, 2018 Kennedy half, Sacajawea dollar, or Block Island quarter to come closer to collecting the First Strike set?
    If none of above, what would you spend it on?
    All opinions accepted, thanks in advance

    Well, what are you collecting? What coin denomination and series are you drawn to? Do you like shiny MS or circ. with some character? For $200 you can get yourself a really nice XF Bust, Barber or Seated Half. Anything else and you are just dead to me. :D

  • bobsrbobsr Posts: 392 ✭✭✭✭

    Resist the urge to spend just because you have it. Have patience. Don't spend on something you'll put in a box or bin and forget about. I have 5 coins in TPG'S that are in individual wooden display boxes that I have where I can look, touch, anytime I want. I truly cherish those. I waited, searched and looked for each one. 2 I overspent on and I don't regret a single penny of it.
    Bob Sr CEO Fieldtechs

  • TunisTunis Posts: 429 ✭✭✭✭

    I have taken everyone’s advice and decided to save some additional money to purchase a better grade CBH. I will update when I do.

    Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2

  • johnny9434johnny9434 Posts: 27,412 ✭✭✭✭✭

    buy some silver put it aside some where till needed. jmo

  • markelman1125markelman1125 Posts: 1,771 ✭✭✭✭✭

    Ow you can get one of these, I got this one at auction for $181

  • TunisTunis Posts: 429 ✭✭✭✭

    That is a nice one.

    Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2

  • GotTheBugGotTheBug Posts: 1,536 ✭✭✭✭✭
    edited September 13, 2019 10:44PM

    .

  • thisistheshowthisistheshow Posts: 9,386 ✭✭✭✭✭

    @airplanenut said:

    @TheRegulator said:
    Add it to the powder chest.

    Saving your money might sound boring, but will help you to be ready when the right piece comes along. Your collection will be better in the long run.

    This is exactly what I was going to say. I'll provide an example in a different way. When I first started going to shows, I thought it was like losing if I left without anything new in hand. If I couldn't find something I really wanted, I'd buy something else. I ended up with a bunch of coins I didn't really want. I'm much more disciplined now. I can go to a major show, find nothing in 2 days, and leave without ever opening my wallet, and I'm happy knowing I didn't sacrifice my standards just to get something. Just the same, when I have the money for the right coin, but the right coin isn't available, I don't buy something else with the same number... I wait. Some of my prize coins have been acquired after looking through tens or hundreds of examples until the right one came along. I think my collection is much better for this.

    So back to the original piece of advice. If you were planning to buy one of those pieces and just needed the money, now you can choose one. If you are looking to buy something simply because you have the money, wait. Wait until a coin really speaks to you, and then you have the money available. Maybe you'll sell a few more cards and can afford something nicer. Unless you're looking at coins that are so rare skipping one may mean you'll never get it, you should never feel rushed into making a purchase. Take your time and be smart with your money. It doesn't always provide instant gratification, but you'll be much more satisfied with the final result.

    This is a perfect summation of how I have just started going about collecting.

  • seduloussedulous Posts: 3,064 ✭✭✭✭✭

    @GotTheBug said:
    If it was me I'd pick me up a nice PCGS-graded, mid-grade half cent. They don't seem to go up much, and it's a classic coin that is still available for reasonable money.

    For myself, having your money sit on the sidelines waiting for the right purchasing moment is one strategy, yes. What I try to do is not waste time while I wait and leverage that $ for profit-making / quick turn-around. To do that takes knowledge. Use the wait time to read-up and gain more knowledge about your series of interest (or discover a series! type set? etc). For me, Barber Quarters were interesting 8 years ago and I took it on. I currently work in a realm that is less than Everyman 58's and still enjoy / find gratification in this series without gaining "points"... Example: As I read and analyzed, I discovered the virtually unspoken-of 1899-S in VF. Compare that coin to the somewhat more recent 1909-O run-up in price. Mintages are comparable, populations? very low in VF and in fact is one of the lowest for the whole series... lower than the 1909-O. Why so low?, the '99-S is virtually a "cleaned" or "environmentally damaged" date and mint. Almost the entire mintage was shipped to the Philippines... and the quarters were either buried or thrown into the sea before the incoming Japanese could grab them during WWII, etc. You can't "undamage" environmental or cleaned problem coins. My suggestion in summary is this: become knowledgeable so you can recognize quality in the series you find interest. Know what date and mint has a possible huge potential for future growth - understanding populations. Make friends in the hobby who collect what you collect, look at those individual's registry collections, visit each other and talk over each other's coins. For me, I made money after learning about what quality looks like in OTHER series groupings, figure out a quick buy-sell strategy (with short turn-around), then invest (or hold as some have indicated) the profits (leveraging the knowledge gained using previously obtained margin-profits). Best wishes to you.

    A Barber Quartet is made up of Nickels, Dimes, Quarters, and Halves.

  • jmski52jmski52 Posts: 22,308 ✭✭✭✭✭

    I'd refrain from running off in all different directions.

    If you are collecting Proof Lincolns, I would suggest that you buy one or two that fill a couple of gaps and save the rest. Wait awhile, see how that feels and then re-assess. If you like the result, do it again, but...………..don't be in a rush.

    Don't entertain buying any coins that you're not interested in collecting.

    If you're more concerned with investing/speculating, simply save the $200 or buy some 90% junk silver.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • coinpalicecoinpalice Posts: 2,435 ✭✭✭✭✭

    sell some more cards and buy a nice ms-63 $10 indian gold

  • CatbertCatbert Posts: 6,549 ✭✭✭✭✭

    Congratulations!

    "Got a flaming heart, can't get my fill"
  • markelman1125markelman1125 Posts: 1,771 ✭✭✭✭✭

    Great choice 👍. You spent the $200 well

  • davewesendavewesen Posts: 5,762 ✭✭✭✭✭

    I love the 2 in the date

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Very nice coin.... Congratulations... Cheers, RickO

  • matt_dacmatt_dac Posts: 959 ✭✭✭✭✭
    edited February 24, 2019 5:00AM

    You’ll need a little more, but buy my favorite coin, a nice AU58 example of a gold quarter eagle Indian.

    Edit- oops - I just skipped to the end and posted my reply.

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