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Young collector seeking advice.

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  • jesbrokenjesbroken Posts: 10,134 ✭✭✭✭✭

    If this forum had existed along with the mulititude of books now available 60 years ago, I would have built a collection I have only dreamed of. Instead their was noone but a little lady at the local model car shop that collected and sold a few coins and gave me all the education I got. Magazines and a boy scout club were my sources. Then after the military I met a few dealers and gradually learned more and more, but nothing comparable what is available on this board for free. The only benefit then was the continual every weekend local coin shows that ran from Knoxville, Tn up I 81 to Roanoke, VA. I went every weekend I could. Do not have that now.
    Young person, please heed the advice given. Choose your series, learn from here and GET the Book you need, study until comfortable and as PF said do not be overly concerned with varieties until you are well along with your education. Please do not try too many series at the same time as they are confusing. Many of the different metal coins react different, press different and are handled different, so easy to get over your head and start skipping knowledge for speed. You are lucky in that you have time AND the benefit of a collegiate education for free right here.
    Welcome to the forum and I am excited for you and would be more than happy to help if I could.
    Jim


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
  • YoloBagelsYoloBagels Posts: 154 ✭✭✭

    Most YN's that I know who are buying $1000+ coins without help from their parents have taken up coin dealing as their main source of income. It does take a lot of time and effort to learn how to buy, price, and market coins right. You also need to have good knowledge of the coins you are buying/selling.

    Undertaking an apprenticeship/part time job at a coin dealer/shop is also a very popular move that many YNs make. You get to learn things that you definitely would not be able to learn on your own.

    Keep in mind that many of the guys spending thousands and thousands on coins are dealers who will eventually get their money back if not more. As a collector you'll be tying money up for a long time every time you buy a new coin.

    Also I know it's an overused saying, but you really do want to buy the book before the coin. Even if you're not actually buying books, do your research. If you're at a show make sure you know what you're buying and look up comps before making a purchase. Do not feel pressured to rush research.

    It's better to pass on a coin you would have bought than to buy a coin that you will seriously regret having.

  • alaura22alaura22 Posts: 3,334 ✭✭✭✭✭

    Wow
    You have gotten some great infomation from these guys and some great offers, don't let them slide by, take what they are offering you and learn from it.
    Down the road you can do the same for someone
    Good luck

  • RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭

    I could always afford any coin I wanted because I never wanted a coin I couldn’t afford. ;)

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