You are a brand new collector. Pick a series and strategy.

bennybravo

Imagine you own no coins, and you want to start from scratch as a rare coin collector. Go! What is your first monetary outlay?

Mgarmy

Proof ASE if you start from 86 and are happy with sub 70’s you can get your first five coins already slabbed for 500ish

bennybravo

I thought this could be an interesting post since someone said we were boring in another post and i don't believe that.

jughead1893

Redbook

bearcave

I agree with @Mgarmy 🙂!
ASE would be a good place to start.

PerryHall

Some good reference books and a subscription to Coin World.

bennybravo

I love the book idea!

Catbert

The header of this thread should not limit one to a series approach. Type collecting is much more interesting to me. That said, the Redbook first step is ideal. I would also recommend the ANA Grading standards book and frequent visits to CoinFacts.

bsshog40

I would think that most new coin collectors actually get started with something they have been given or found. It's hard to set yourself towards a series when you're new as there are soo many series out there. The best way to start is to try to figure out what most interests you. Younger collectors seem to be interested in moderns while us older collectors are more Pre-65's.

bennybravo

Liberty nickels, barber dimes? No outside the box options for undervalued series?

bennybravo

@bsshog40 said:
I would think that most new coin collectors actually get started with something they have been given or found. It's hard to set yourself towards a series when you're new as there are soo many series out there. The best way to start is to try to figure out what most interests you. Younger collectors seem to be interested in moderns while us older collectors are more Pre-65's.

Very well said!!!! Thank you!!!

tommy44

Lincoln Memorial Cents, not including proofs or varieties you could probably put together a circulated set with enough roll searching and find out pretty fast if collecting coins interested you. By the time you finished the set you should know if anything else would be of interest., Oh, and buy a Redbook, even if an older one at a library sale or thrift shop just to get an idea of what is out there.

Yorkshireman

First - Buy & Read QDB’s books “Collecting & Investing it Rare Coins” and “Inside the Rare Coin Marketplace”.

bennybravo

Great suggestion tommy! Thats a great set to get' started with!

bennybravo

@Yorkshireman said:
First - Buy & Read QDB’s books “Collecting & Investing it Rare Coins” and “Inside the Rare Coin Marketplace”.

Haven't read, but if Q David bowers wrote, id definitely recommend. Smart guy.

asheland

Books are always a good investment!

SanctionII

If I was a new YN collector of USA coinage who happens to be named Richie Rich I would probably start out with 18th Century Gem CAC MS Gold and Silver coinage.

I my name was not Richie Rich and instead was Joe Six Pack, Jr. I would probably start out with parking lot error Zlincoln Cents.

Eldorado9

I would start with a complete date set of Proof Twenty Lib's! There's a challenge.

shortnock

Get reference library going. Do your homework.

TurtleCat

I would not choose a series generally as it isn’t my thing. I also wouldn’t worry too much about rarity. The big question would be my budget.

But if I had to pick a series and I had to pick something I could reasonably afford today I would pick gold dollar dates. I would stick with an upper AU grade, Philly, and try to sprinkle some branch mints along the way.

chesterb

Whatever looks interesting to you but try to limit your spending. To limit mistakes, you may want to focus on certified, CAC type coins. You can get some affordable type coins in a variety of series. Collect what you think looks cool and then study them.

DNADave

Raw peace dollars date and mm in a dansco. Evenly matched xf-au. One per payday.

privatecoin

Franklin halves

kiyote

As someone who had to evacuate due to a fire, I really wish I hadn’t collected so many series in Dansco albums and capital plastics holders. Instead of one $1000 coin I have 100 $10 coins. They are fun to look through but storage becomes an issue.

bennybravo

Great suggestions! Keep them coming.

3stars

Morgan Dollars. Common as dirt, you can get half the set on the cheap, and as your collecting matures the set need also mature into the slightly rarer CC's, then on to the few big ones, presumably after you learned a bunch from obtaining the cheapies.

Yorkshireman

Before jumping into a series, OP, read about all of them and go visit a show to see what You like.

@3stars said:
Morgan Dollars. Common as dirt, you can get half the set on the cheap, and as your collecting matures the set need also mature into the slightly rarer CC's, then on to the few big ones, presumably after you learned a bunch from obtaining the cheapies.

I question whether one should collect something as “Common as Dirt”.

pursuitofliberty

I would absolutely not start on a series out of the box. Maybe pick a theme with a little diversity. Also, getting a Red Book, and maybe a periodical or two would be good.

There are so many ways to go ... modern commemorative dollars, dead presidents, type by denomination, etc. Maybe start with three or four nice, but not super high grade examples of coins that speak to you.

If I were to take that last thought a step further, I would suggest the four major (in my mind) 20th Century Classics ... a Walking Lib, a Standing Lib', a Mercury Dime and a Buffalo Nickel. Something at or north of EF if you can, but less than high grade Unc', so the design elements are not lost and the wallet isn't destroyed before you can get an eye and a feel.

Once those are acquired, and some reading and studying and looking around has been done, revaluate what you want to do, and move forward.

If collecting grabs you, those are nice selections to have and hold, or use for trade. If collecting doesn't take hold ... well, unless you didn't pay attention to the quality and price when you bought those first few, those are selections easy to sell without being totally wiped out in most cases.

My 2c

ike126

I filled this up as a yn and loved every bit of it!!

Tom147

I would think 1 Redbook then # 2 Go to a show ( not so easy in these trying times ) a local B & M or find a seasoned collector / mentor. Someone to talk and guide you as to what direction the " new " collector may want to go. Of course the big question is " the budget " It's all good for people to say gold, Morgans, Franklins or Peace. But the budget drives it all. If say the " new " collector has $ 100.00 a month, he's gonna lose interest buying a coin every 3,4 or 5 months. Just my thoughts.

Yorkshireman

@pursuitofliberty said:
I would absolutely not start on a series out of the box. Maybe pick a theme with a little diversity. Also, getting a Red Book, and maybe a periodical or two would be good.

There are so many ways to go ... modern commemorative dollars, dead presidents, type by denomination, etc. Maybe start with three or four nice, but not super high grade examples of coins that speak to you.

If I were to take that last thought a step further, I would suggest the four major (in my mind) 20th Century Classics ... a Walking Lib, a Standing Lib', a Mercury Dime and a Buffalo Nickel. Something at or north of EF if you can, but less than high grade Unc', so the design elements are not lost and the wallet isn't destroyed before you can get an eye and a feel.

Once those are acquired, and some reading and studying and looking around has been done, revaluate what you want to do, and move forward.

If collecting grabs you, those are nice selections to have and hold, or use for trade. If collecting doesn't take hold ... well, unless you didn't pay attention to the quality and price when you bought those first few, those are selections easy to sell without being totally wiped out in most cases.

My 2c

Good advice.

messydesk

First purchase is a Red Book. Then look at it a lot and see what makes you say, "Cool," that is feasible given your budget. If all of them made you say, "Cool," not to worry. A type set is for you.

Next purchase is passage and entrance to a regional show to look at a lot of coins, especially the ones that made you say, "Cool," in the Red Book. Get to know a few people that have those coins, but if you don't have guidance for who you can trust, ask some of the dealers that have stuff that's a little out of your price range who they might recommend, if they're not busy. If they're helpful, remember them when they are in your price range. If they're not, remember that, too. Don't be in a hurry to spend too much too fast, but don't compromise quality for what looks like a bargain. Study more between purchases.

CoinHoarder

If you have a local coin store, and they allow you to handpick junk silver, pick out some nice problem free coins, and fill up some coin folders. You can obtain any kind of 90% junk silver going all the way back to Barber coinage. Nice way to build up a nice store of silver, as well as nice historic collector coins.

jabba

Don’t buy anything for six months spend the time researching! It’s so
Important to figure out what you like vs your budget. There’s no point in getting into a series you can’t possibly finish you will get frustrated and probably quite

Sonorandesertrat

First, figure out WHY you are interested in coins. If the reason is primarily financial, you have a lot of work ahead. Investing is much more difficult than collecting. Regardless of what you decide to do, develop meaningful expertise---this isn't free, and will take serious study. If possible, find a mentor. Then figure out who the good guys/gals are among the dealers. And remember that 95% of the time, you should just keep your money in your wallet instead of making a purchase.

I have been collecting coins for more than 50 years. I have focused on foreign and later U.S., completed several series of coins and sold them, and now collect whatever happens to catch my fancy, including exonumia and numismatic literature. First and foremost, numismatics is a hobby. Figure out what works for you. What works for others shouldn't matter that much.

3stars

@Yorkshireman said:
Before jumping into a series, OP, read about all of them and go visit a show to see what You like.

@3stars said:
Morgan Dollars. Common as dirt, you can get half the set on the cheap, and as your collecting matures the set need also mature into the slightly rarer CC's, then on to the few big ones, presumably after you learned a bunch from obtaining the cheapies.

I question whether one should collect something as “Common as Dirt”.

I like this set because you can start out pretty easy, make mistakes on cheap coins before moving on to the semi keys and keys, and every dealer has bunches of them so you never have to search too hard for an example to fill a hole. Plus 96 dollar coins is impressive to look at in albums and weighs a ton!

Zoins

@bennybravo said:
Imagine you own no coins, and you want to start from scratch as a rare coin collector. Go! What is your first monetary outlay?

1794 SP66 dollar

What's the budget again?

ricko

Definitely get a Redbook... start looking at pocket change... all types of coins you receive, or have in a jar or box. Go to a coin show and look at lots of coins.... you will start to have an attraction to certain series or metals....make some friends among collectors, join a coin club. Seek advice prior to purchase of coins. Above all, have fun - it is a hobby. Cheers, RickO

TexasAKHouston

David Hall's "The Mercenaries Guide to the Rare Coin Market" may be dated but it includes an extensive list of ideas for different sets you can build...

bennybravo

Love you guys and this forum! Great ideas!!!!!!

pointfivezero

Do the exact opposite of everything I did when I started collecting.

bennybravo

@pointfivezero said:
Do the exact opposite of everything I did when I started collecting.

I concur wholeheartedly!

bennybravo

Me personally, college student collecting morgan dollars. That's my series. Older fella with a pawn/coin shop who let me look through his stuff and helped me with learning to grade raw morgans. Bad part of town though, and he was shot, robbed and killed a couple years ago. Great guy. Bill's coin and Stamp in Jackson, Mississippi. Maybe someone else has heard of his shop. Great fella who really cared about the hobby and let some kid like me root through his hundreds of morgans looking for a 64 or 65 and learning how to grade, always giving me a deal when he knew i found some of his best stuff.

bennybravo

Sorry. Personal stuff about a friend. Just such a good dude who cared about our hobby and little about the money. It's what our hobby is about I think.

TexasAKHouston

When I first started and was a lot poorer (lol) I built a circulated collection of AU peace dollars. Very short and reasonable price range. I wanted to get acquainted with circulated coins and try to learn basics of detecting cleaned, whizzed coins, etc., as a starting point. Later in my life I was blessed to be able to build a few nice graded collections. Pretty much what DNADave suggested in an earlier post...

But my very first purchases were bullion related - junk silver in 2003 or so... as I could afford, moving up to bullion gold and finally jumping into numismatic collecting, with my first set as described above. A bullion component is the basic building block before going in low, then moving up the food chain on more expensive collections. As QDB always advocated (when you get to the stage of building a good graded collection), buy the best you can afford... it will pay off in the end.

bennybravo

@TexasAKHouston said:
When I first started and was a lot poorer (lol) I built a circulated collection of AU peace dollars. Very short and reasonable price range. I wanted to get acquainted with circulated coins and try to learn basics of detecting cleaned, whizzed coins, etc., as a starting point. Later in my life I was blessed to be able to build a few nice graded collections. Pretty much what DNADave suggested in an earlier post...

But my very first purchases were bullion related - junk silver in 2003 or so... as I could afford, moving up to bullion gold and finally jumping into numismatic collecting, with my first set as described above. A bullion component is the basic building block before going in low, then moving up the food chain on more expensive collections. As QDB always advocated (when you get to the stage of building a good graded collection), buy the best you can afford... it will pay off in the end.

It's the start of all of us. We're all just learning. Kudos to you.

Walkerfan

I can't pick your series for you but I can tell you what I did:

-Chose Walkers, b/c of beauty, history and scarcity. Also, b/c they were one of several series introduced to me, by my father.
-Started buying raw, scarcer dates in XF-AU.
-Read A LOT.
-Attended all the local shows.
-Found MENTORS...For me it was both a local dealer and a veteran collector.
-Started buying the KEYS FIRST....Certified by PCGS/NGC only and in grades from MS 63 to 64.
-Joined the chat boards and the Registry.
-Sold my raw stuff and reinvested the money into certified examples.
-Found my optimal grade and paid up, when I had to.
-Bought the more common dates in MS 65-67.
-Upgraded here and there.
-Never gave up.
-Searched EVERY DAY.
-Looked at MANY an auction archive.
-Cherrypicked by learning the nuances.
-Followed HRH's advice and Had FUN!!

GOOD LUCK in your quest!!!!!

Baley

Definitely start slow and easy.. such as small eagle draped bust half dimes by marriage and die state. Maybe form a grading set for each variant. All PCGS/CAC of course.

TexasAKHouston

My first major purchase was a gold $20 PCGS SS Central America coin. I bought the "Ship of Gold" book in an airport bookstore and read the book on the flights & business trip I was on, relishing the history. An interesting story from the book was that they were sick of the birds standing on the rails of the boat and pooping (which the had the clean up), so they electrified the rail. Within 24 hours their plan failed, because the birds quickly learned to stand on the rails one-legged (putting the second leg down completed the electrical "circuit" that caused the electricity to shock them!). I also ordered a DVD from the History Channel, since they had aired a 30-minute episode that chronicaled the story of the shipwreck recovery.

It wasn't just the coin, I took great delight in learning all about the shipwreck recovery and coupling it with ownership of one the recovered coins.

But yes you have to choose your area of interest of make the most of it, reading and studying the series, and be a true collector. To again go back to QDB's books, the best investors and also the ones who are the sincere collectors.

Jmis

A few raw ASE then Franklin Half dollars in Dansco followed my Morgan dollars and then Pre33 $2.50 Gold.

TexasAKHouston

To answer your question directly, it depends on your collecting interest, but here are suggestions from me (take it for what is worth, you paid $0 for this advice):

(1) You could buy a 3-coin collection of CC gold: a $5, $10 and $20 piece (in the highest grade you can afford)
(2) You could buy a "short" set of five $2.50 gold indians (1925D, 1926, 1927, 1928 and 1929), in MS64.
(3) You could build a complete set of Peace dollars in the best grade you can afford.
(4) You could build a set of Morgan CC dollars from 1880-1885, perhaps even in MS PL condition, in the highest grades you can afford.
(5) Commems seem to be out of favor at the moment, you could a complete set in the best grades you can afford.
(6) You could build a date run of gold $5 or $10 libs, ranging perhaps from 1880-1907 in the best grades you can afford.

As I said, you paid $-0- for the advice, so take it for it is worth...