I have different rules for different items. However, in general, for coins I currently own, I ask myself if this is a piece I am proud to own at the given grade. If it is not, I sell it. I once heard that pcgs likes to grade coins at a grade that a purchaser would want to buy the coin. This always made a lot of sense to me.
As for buying coins raw or slabbed, I ask nearly the same questions; however, price is not always within my control, so often I need to stretch a bit on that front. For older copper, I look first to planchet quality, then to centering, then to grade, then to eye appeal, then to price. Especially with older copper, planchet quality has always been my number one requirement. For silver/others, it is generally eye appeal, then grade, then price. Sometimes, concessions need to be made.
As for ancients, well, that is another story for another time.
I almost never will spend more than $2000 on a single coin. And, I'll go over $1000 on a single coin only if I can't get one whose appearance I like for less than $1000, but can get one for more than $1000. A result of this is that most of my coins that cost more than $1000 are in grades less than AU50, because if I can get one in AU50 condition (or better) for less than $1000, I generally will do that rather than spending more.
Except for GSA Morgan dollars, and die-variety coins I like, I almost never will buy a certified coin in UNC grades.
I am not inclined to spend more than about $150-$200 on a raw coin.
I'm very partial toward AU58 coins when buying a certified coin. But see rule 1.
If I don't like the coin's appearance, I won't buy it.
All of the above are subject to change without notice for any particular coin that I really want, and have found very hard to get. Or an unusual opportunity arises.
Upon reading the replies and looking back over the past five years…
1) Don’t sell your problem free cherry picks
2) Give each new purchase five years minimum spot in the collection.
3) I have my “grading sets” for each series of interest… but shoot for a box of 20 per year.
4) key dates with allowed exceptions for the above mentioned criteria.
My interest runs from Vam’s to high grade moderns. I love varieties.
There are about a dozen coins I seriously regret selling. Quite a number of “made” coins from the wild.
In total, they would have made a great financial foundation and an interesting journey of satisfaction and education.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Unless it's a really rare variety, pass if the coin has problems or is worn out. Not worth the fees when selling.
Don't haggle when buying a cherrypick. Pay the price the dealer asks. If it's ridiculously high, pass.
Don't buy certified moderns from the 80's to now, no matter how cheap they are in the bargain bin, unless they are nicely toned. You will lose money on them on eBay. Believe me, I've tried it too many times now.
You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
I'm also not tempted to buy coins from series I don't collect. There are a few coins I would like to own (example is a Territorial gold US Assay $20) but it's far above the financial level I collect, and I wouldn't buy it before my primary interest anyway.
Comments
I have different rules for different items. However, in general, for coins I currently own, I ask myself if this is a piece I am proud to own at the given grade. If it is not, I sell it. I once heard that pcgs likes to grade coins at a grade that a purchaser would want to buy the coin. This always made a lot of sense to me.
As for buying coins raw or slabbed, I ask nearly the same questions; however, price is not always within my control, so often I need to stretch a bit on that front. For older copper, I look first to planchet quality, then to centering, then to grade, then to eye appeal, then to price. Especially with older copper, planchet quality has always been my number one requirement. For silver/others, it is generally eye appeal, then grade, then price. Sometimes, concessions need to be made.
As for ancients, well, that is another story for another time.
Tom
I love that grade!
Tom
Don't talk myself into liking a coin. Its either love at first sight, or it isn't.
No to buying or selling of Congressional Gold Medals under any circumstances!
Dont try and convince yourself to like a coin
Latin American Collection
Buy fungible tokens, not non-fungible ones.
Upon reading the replies and looking back over the past five years…
1) Don’t sell your problem free cherry picks
2) Give each new purchase five years minimum spot in the collection.
3) I have my “grading sets” for each series of interest… but shoot for a box of 20 per year.
4) key dates with allowed exceptions for the above mentioned criteria.
My interest runs from Vam’s to high grade moderns. I love varieties.
There are about a dozen coins I seriously regret selling. Quite a number of “made” coins from the wild.
In total, they would have made a great financial foundation and an interesting journey of satisfaction and education.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
1, no fakes.
2. no damaged coins (night consider lightly cleaned if price is right)
3. must like it
8) Always tell the wife of my purchases
9) If the coin is a must and no cash, then use credit, that is what the credit line is for.
Only buy coins I really like, or I will regret the purchase.
If something seems “different, special, or exceptional”, buy it and figure out why later
Latin American Collection
Buy what you like when the price is where you like.
No fantasy dates, overstrikes or other fake coins. Real issued coinage only
I never buy on impulse.
I'm also not tempted to buy coins from series I don't collect. There are a few coins I would like to own (example is a Territorial gold US Assay $20) but it's far above the financial level I collect, and I wouldn't buy it before my primary interest anyway.
I'm not sure what you mean by "Real issued". Does that include Patterns? Proofs? Commems?