Tips for a beginner

dast1983

Hi -

So I am thinking of starting a coin collection. I'm going to go through my deceased father's collection. He has some silver, old coins from the early 1900s, and some other stuff I can't really remember. I want to add to the collection. And I'm particularly interested in silver because I think it's a good long-term (decades long) investment, and I don't yet have the money to buy gold. I'm also interested in buying ancient coins (Mayan, Roman, Spanish Doubloons...things like that).

What tips do you have for me as a beginner? I'm collecting both for fun and for appreciation in value.

Appreciate it!

Smudge

Get a Redbook.

RiveraFamilyCollect

Coin collecting is a hobby where the more you learn, the better you do.
Do your research on the coins before you buy, not after.
Check the "sold items" part of eBay to see where the market is pricing similar coins.

pursuitofliberty

@RiveraFamilyCollect said:

Coin collecting is a hobby where the more you learn, the better you do.
Do your research on the coins before you buy, not after.

I'll keep it simple. Read this part over and over and over again.

Good luck, and keep asking questions and checking in.

pcgs_social

welcome to the club!! coinfacts helped me learn so much more about coins. https://www.pcgs.com/coinfacts

we also have some amazing numismatic writers on our team that write all things coins. check it out! pcgs.com/news

MFeld

Welcome to the forum.

Don’t be in a hurry to buy anything.
Learn the difference between collecting and investing. Those are two very different things, though there’s often some overlap between them. It’s hard enough to make money on coins, even if you’re knowledgeable and know what you're doing. It’s nearly impossible, otherwise.

The recommendation to get a “Red Book” is a very good one. The listed values aren’t necessarily accurate, but it will introduce you to the different types of coins and show you which types and dates are scarcer and more valuable. Here’s what it looks like: https://www.amazon.com/Guide-Book-United-States-Coins/dp/0794851630/ref=sr_1_1?dib=eyJ2IjoiMSJ9.R863QEXfZpsWTaJilXTla6tW7D_bdFn7c3oEPbSMziSqQRSaCpy4PLjA8szzPNMfQ2og8c5mxDeLyGYZhPiQKoiqNV-4KmAbjnS_FDcPRjgPiRgAlJiPI0yLWa46MooaHBYEDrzIoVFLGFIkE17z3S_4Q7Siowc-8by8fizsO3XJbhcWTWBHJJ_OpUHozmLUaQTcqf3VN2FqN5eX-fFTLIOFK2Zz3WGW7rcQ5B_0v6I.tv9jtjeVSd_0QXSxohETVn8UGIbdmLwxQqXs0QtKY5c&dib_tag=se&hvadid=776718271434&hvdev=c&hvexpln=0&hvlocphy=1026607&hvnetw=g&hvocijid=9226436749364791900--&hvqmt=b&hvrand=9226436749364791900&hvtargid=kwd-2275065266155&hydadcr=15083_13842880&keywords=redbook+coin+guide+2025&mcid=ac9c403c2433315c983123446bcbbe8e&qid=1766425821&sr=8-1

Take your time reading, viewing pictures and looking at different coin types. After a while you’ll get a feel for which ones appeal to you and what they might cost, depending upon their condition (grade).

Above all, be patient and enjoy.

Feel free to ask questions - this is a great place to receive helpful input.

BillJones

I have been a collector for going on 66 years. I started as a child.

If you want to collect U.S. coins, buy a Red Book. It has more information in one source than any other publication. It does not need to be a brand new one. You could learn a lot of one that is three or four years old.

You might start by buying an album for the coins your father had, and start filling in the slots. One indicator that you might be cut out to be a collector is if you feel the urge to fill the holes. You might also be interested in the back stories of the coins you are collecting. You can get that from reference books or by posting on this forum.

Except for the time when I was a dealer, profits are something that came to me as a by-product of collecting. I bought something, held on to it for a while and the market went up for it. Malcum Forbes once wrote that collectors naturally buy well. There is truth to that because a collector had done his or her homework and knows things about the market. They also come to think like other collectors.

I have collected imperial ancient Roman coins for about 15 years. I have collected hammered and machine made British pieces for about the same time. My advice is to study the history of those civilizations. That will lead to collect what you enjoy.

Collecting the coins takes more expertise. Yes, many of the ancient and British coins are graded, but the majority of them are not. There is more of need to know how to grade coins and how to spot fakes.

I hope this helps.

MsMorrisine

don't collect to make money. lots of coins lose money

collecting is the joy of making a set or finding a really cool coin out there

GuzziSport

@MsMorrisine said:
don't collect to make money. lots of coins lose money

collecting is the joy of making a set or finding a really cool coin out there

This! Do not begin this journey for the sake of this making a profit. Do it because you enjoy and appreciate the history and beauty of a particular coin or coin series,and absolutely do read and research before you buy. It’s far more gratifying than just slinging money at something you think you’ll sell at a profit.
And by all means, develop relationships with a small handful of reputable dealers! There are some really good people in the industry who will be glad to help you learn.
Best of luck!

pruebas

FYI The Mayans didn’t use coins, or even what we would consider money.

https://en.wikipedia.org/wiki/Trade_in_Maya_civilization

The Aztecs used copper tajaderos as a medium of exchange.

https://www.si.edu/object/aztec-hoe-money:nmah_835166

Peasantry

Keep posting, sharing, and reading here. It can be like walking into a grumpy old folks home but you will learn a lot.

Whether you're thinking of preserving & evaluating what you have, making a new purchase, or exploring the narrowest of niches in the coin world, this is the place to do it.

Rule556

I'm a newbie and made the mistake of just buying anything that excited me for the first few months.

I lost a not insignificant amount of money not focusing early on a specific coin to learn the game. Sold most of them, and started a Peace dollar collection and a 20th century type set to learn about them while also working toward a very specific goal.

Buy a red book, and do a lot of learning. I'd recommend staying away from raw coins until you are really confident in your ability to recognize an original vs cleaned coin, and every type will have different things to look for. Research is your best friend.

As others have said, collecting is not stacking. I buy a coin because I like how it will fit in my collection, not due to a value calculation.

johnny9434

Develop a keen eye for coins for yourself and dont rush

shortnock

Read, read, read and understand the first 50 pages, or so, of the Red Book. The knowledge found there is most rewarding.

sanddollar

Don't immediately lock up your coins. Enjoy them. Study them. Handle them.

291fifth

Don't be caught up in the current silver and gold boom. If the national and international chaos that fuels this boom subsides the price of silver and gold will likely decline.

Don't buy any numismatic coins until you know what you are doing. Study the Red Book and all the learning materials available on the PCGS site.

Don't waste money on common or thinly traded material.

lkenefic

As some have already alluded to: think of coins as a hobby, not a competition. Very early on, it helps to understand the size of your collecting budget and be comfortable with it. Every collector operates within a different pocketbook, and that doesn’t make one collection more “legitimate” than another.

It can be intimidating to see someone post a seven-figure coin while you’re sharing a $20 pickup... but both belong in the same conversation. The value of a collection isn’t measured by price tags alone; it’s measured by the thought, knowledge, and enjoyment behind it. Most of us started small, and many of us still collect that way by choice.

My own approach has always been: Real Life comes first. Pay the bills, build savings, fund retirement—then decide what you can comfortably set aside each month for coins. For me, that money comes out of my entertainment budget. Sometimes it piles up over a few months; sometimes an extra consulting gig or unexpected cash (Tax Refund) speeds things up. If it doesn’t go into a Roth IRA, I might treat myself to a meaningful numismatic purchase—but only when it fits comfortably. This is how I got my 1909-S VDB and a $20 Saint.

Another piece of advice that’s easy to underestimate: learn how to grade, and more importantly, learn how to spot problem coins in the series you choose. This matters at every price level. I learned a tremendous amount by selling off a second iteration of my 7070 Type set... specifically, which coins held value and which didn’t because of issues. That experience saved me a lot of money going forward and reduced my numismatic “tuition.”

Finally, be cautious with credit. Early on I made it a rule to avoid using credit cards for coin purchases, and I’ve mostly stuck to it. There were a few exceptions where I already had most of the cash saved and just needed a little extra—but I paid it off quickly by selling other coins. Interest and fees quietly make any coin more expensive than it needs to be, and that lesson is worth learning early.

Collect at your own pace, within your own comfort zone, and don’t let someone else’s budget define your enjoyment of the hobby. To me, that’s how it stays fun... and sustainable... for the long haul. Best, Leo

Catbert

https://forums.collectors.com/discussion/comment/5248074#Comment_5248074

MasonG

If you're thinking about putting together a set, is completing the one you choose an attainable goal? If not, will you be satisfied with it when you get as far as you can go and can't afford the coins needed to complete it?

ZenithBullionPA

Intermediate-level collector here, from the US. Likely a couple decades younger than many posters here, and probably with lighter pockets as well. Consider that in light of what follows...

There is much excellent advice above. My main addition would be: if information is what you're after, and it absolutely should be, don't just buy any Red Book. Buy a Mega Red Book. It's HUGE (~1500 pages and probably close to 10 lbs). It sports large, full-color photos of coins in various grades.

Mega Red is a great 'master reference' volume that will help you determine which types and series you like best. Maybe you're attracted to the Mercury dime because you like the appearance. Or perhaps that's too small, or too modern, and you prefer Seated Liberty Halves. Or you're a sucker for a good story, and the Trade Dollar sticks in your mind. Whatever.

Note: my advice is to buy Mega Red for the information, not as much for the prices. This means you can save money buying a used copy of an older edition of Mega Red, if you choose. The prices may change from year to year, but most of the information does not. And don't put too much stock in those prices to begin with - think of them more as loose guidelines. If you ever try to sell any of your coins, you'll see what I mean by that.

Try visiting a local coin shop (LCS) or coin show near you.

• My LCS has a nice variety, at all price levels, and honest proprietors. Some coin shop owners are honest and helpful, while others are...less so. Try to find one near you that's patient and likes to educate newbies. They do exist, but of course I don't know if they exist near you.
• First, educate yourself. Then visit a coin shop and make a small purchase so they can see you're serious. Maybe a couple Mercury dimes or 90% silver Roosevelt dimes. Ask questions that you already know the answer to. If they lie, or if you get 'bad vibes' like you're not worth their time...well, maybe they had a bad day - wait a while and go back a second time. If you still get bad vibes, don't go back a third time.
• Coin shows tend to have stuff priced at full retail plus. And in my experience, the small shows tend to be overflowing with holdered Morgan dollars - usually not priced at less than $100. If you collect Morgans, that's good! If not, it can be a bit demoralizing to see all the relatively expensive merchandise. I don't often buy at coin shows. But if you don't have a good LCS, a coin show can be a good place to find, and learn from, like-minded collectors. And at least some dealers at any given coin show will welcome the opportunity to teach a beginner!

A couple additional pointers I've learned in my own journey:

• You mentioned silver. It is possible to 'stack silver,' as they call it, without necessarily buying coins. There are silver rounds available, with various designs and themes, for usually a couple dollars above the spot price. From my LCS, I bought a couple rounds with designs similar to old, highly valuable coins. Probably as close as I'll ever get to owning, say, a Draped Bust Half Dollar.
• Fractional rounds/denominations are available. If you can't/don't want to spring for a full 1-oz silver round, half-ounce and quarter-ounce silver rounds exist. Fractional gold denominations also exist, such as the American Eagle gold bullion coins in 22-kt. A one-ounce coin is available, but so are a half-ounce, quarter-ounce, and tenth-ounce. Multiple mints around the world offer their own bullion coinage - Canada, South Africa, Austria [Philharmonics], the UK, and Australia come to mind. Non-government rounds tend to be less expensive, but be warned that some collectors are only interested in government issues.
• Coin-roll hunting is a great entry point for beginners, or those with less disposable cash! You simply go to the bank or credit union, withdraw $10 in the form of a roll of quarters (or half-dollars if they have any) and look for silver/errors/collectibles. If you don't find anything, you take the $10 worth of coins back to the bank. No rip-offs, no scams, no expensive mistakes, and no risk. You won't frequently find anything exciting, but the only thing you have to lose is your time. And when you do find something, it's very exciting!
• I tend to avoid buying directly from the U.S. Mint. Sometimes, their merchandise loses value on the secondary market. That is, you could pay the Mint $34.95 for an uncirculated set, or you could buy the same set from your LCS, or an online seller, for $25 or less. Depends very much on the coin/set; demand varies greatly.
• You also mentioned ancients. Many ancient coins are surprisingly affordable! Lower-grade, common bronze coins from the Roman Empire or Byzantine Empire, for example, are available for $20-30. Obviously, some of them can be incredibly valuable, but as always, you have to know what you're looking for. I own a couple of ancients (one holdered, one raw) and for me, they served as inexpensive gateways to learning about the ancient world...However, 'ancients' encompass a very, very broad period of time, and they span almost the entire world! You'd be well-advised to start by focusing on one, such as Chinese ancients. Or Roman ancients. Or Egyptian ancients. Whatever. Just be warned, there's an absolutely titanic volume of information about the ancient world. Paradoxically, you may find information on ancient coins to be surprisingly sparse.

Most importantly...have fun learning!

pruebas

@291fifth said:
Don't waste money on … thinly traded material.

Thinly traded material is often quite rare and does very well financially when sold. Hardly wasting money, but not usually for a noob either.

Colonialcoin

Start off very slow in order to enjoy what could be a life long endeavor. Some people jump into the deep end right away and end up leaving the hobby because they were clueless as to what they got themselves into. View as many coins in hand as possible and stay away from problematic coins such as cleaned, corroded, scratched, etc. This will help you to properly grade coins and to figure what is appealing to the eye. You really need to trust yourself when it comes to this. Problem coins are an eyesore. We all bought them during our early years but hopefully learned to stay away from that kind of material. Buying a redbook is essential. You can go through the book and see which designs catch your eye. Stay away from MS 69 and 70 bullion. You pay too much of a premium for what is essentially a precious metal.

Don’t view coins as an investment but as collectibles. Keep in mind that most coins minted in the 20th century are common. This gives you the opportunity to be fussy when making a purchase. That said, certain dates and mintmarks from the 10’s to 20’s become very challenging to locate once you reach the VF-XF or finer level.

Bottom line is that there is something new to learn everyday about coins.

Acarroll

I'd like to reiterate what a couple people have already said, learn how to grade. Photograde is a good tool, the ana grading standards is another, here's a link
https://ebay.us/m/WKPF27

Walkerfan

Here are a few suggestions based on my experiences. 50 years as a collector and 30 as a Walker specialist.

1. Pick a series and focus on it… something that you like or have an interest in, either because of the history, or because of the way it looks or maybe some personal connection.

2. Buy some books and magazines.

3. Look at a lot of coins in the auction archives. It’s free to join.

4. Find a mentor either a collector or a dealer or both

5. Find your optimal grade range that you want to collect.

6. Buy the keys first

7. Buy the best you can afford

8. Make friends and have fun!

9. Go to local shows and clubs

10. Spend a lot of time here, reading threads and asking questions and participating, when you feel you have something good to say or add. Asking questions is never stupid but being afraid to is.

11. Be patient.

12. Join one of the many registries.

13. Stay away from raw coins. They’re risky, even for people with years of experience, and much more so for a newbie.

14. Never buy a Coin just to fill a hole. Buy what you want or need the first time around.

15. Buy the coin not the holder. Don’t get fixated on numbers on inserts.

HalfDime

My tip is to buy this silver coin next month straight from the US Mint. It is low mintage and will do well assuming it stays at 60,000:

https://www.usmint.gov/congratulations-set-2026-26RF.html

ambro51

Most areas have a local coin club. A great way to mix with others and usually a little coin auction. Can be a big help and nice to know you’re not alone. Most people think you’re absolutely nuts if you’re a coin collector.

291fifth

@pruebas said:

@291fifth said:
Don't waste money on … thinly traded material.

Thinly traded material is often quite rare and does very well financially when sold. Hardly wasting money, but not usually for a noob either.

Unless you are an expert in the field thinly traded material is a great way to "pay tuition" in the world of collecting.

124Spider

Get educated before spending significant money. You'll be glad later.

Buy coins that interest you, not to "complete" someone else's idea of a "full set."

Don't get into coin collecting for "appreciation." If you're careful about how you buy, and if you buy relatively expensive coins wisely, you may (or may not) see "appreciation" over time. I buy with value in mind, being aware that one can make reasonable efforts to minimize one's losses; but I never expect to make money with my coins.

Cranium_Basher73

jonathanb

The OP has received a lot of advice in this thread. Some of it is very good. Some of it is maybe less than very good.

MY tip for @dast1983 is is to summarize this thread and echo back the key points and next steps, to make sure that you've heard what people are trying to say...

Catbert

@Walkerfan said:
Here are a few suggestions based on my experiences. 50 years as a collector and 30 as a Walker specialist.

1. Pick a series and focus on it… something that you like or have an interest in, either because of the history, or because of the way it looks or maybe some personal connection.

2. Buy some books and magazines.

3. Look at a lot of coins in the auction archives. It’s free to join.

4. Find a mentor either a collector or a dealer or both

5. Find your optimal grade range that you want to collect.

6. Buy the keys first

7. Buy the best you can afford

8. Make friends and have fun!

9. Go to local shows and clubs

10. Spend a lot of time here, reading threads and asking questions and participating, when you feel you have something good to say or add. Asking questions is never stupid but being afraid to is.

11. Be patient.

12. Join one of the many registries.

13. Stay away from raw coins. They’re risky, even for people with years of experience, and much more so for a newbie.

14. Never buy a Coin just to fill a hole. Buy what you want or need the first time around.

15. Buy the coin not the holder. Don’t get fixated on numbers on inserts.

I am a @Walkerfan and this is a good list, but for a newbie, I think some context should be added about "buy the keys first" and "buy the best you can afford". When one has little to no knowledge, this could be an expensive big mistake. I like the term "buy the best that you understand". I know my friend Walkerfan knew what he was doing when he focused on the keys first.

seatedlib3991

Lot's of practical advice here. I have been a collector for 57 years. I currently collect circulated Barber dimes and have tried to find some of the lesser varieties. This is what i will tell you, when I do find a "new' coin for my set it is like being an 8 year old kid on Christmas morning again. I hope you find something to collect that also brings you that sort of joy. good luck in all things. james

pcgscacgold

Collect what makes you happy. Enjoy the hobby and get to know people.

If you post things you buy, be ready for criticism. I have been told my coins are at best, average. I still enjoy them because I bought them for what I collect.

rte592

Buy what you like But try not to Overpay.
No one ever makes money collecting as a hobby
Some coins are better bought Graded/ Authenticated...Way too many FAKES
Have fun but have a little dry powder for when a deal comes around.
Don't overextend the wallet...it doesn't cost anything to ask and you don't get IF you don't Ask.

GuzziSport

@pcgscacgold i call BS on that “my coins are at best, average” comment, I’ve seen some beautiful coins in your holdings!

jmlanzaf

@pruebas said:

@291fifth said:
Don't waste money on … thinly traded material.

Thinly traded material is often quite rare and does very well financially when sold. Hardly wasting money, but not usually for a noob either.

Thinly traded material also does very poor when sold. It is the nature of "thinly traded".

jmlanzaf

@HalfDime said:
My tip is to buy this silver coin next month straight from the US Mint. It is low mintage and will do well assuming it stays at 60,000:

https://www.usmint.gov/congratulations-set-2026-26RF.html

That's oddly specific... and speculative.

seatedlib3991

@jmlanzaf . I will openly dispute that statement. Most of what i have collected for the last 40 years would fall under the heading "thinly traded". I have the purchase records and the sales records to show that in one case: RB PCGS-64 Indian Head Cents from 1880 thru 1909 (A set of coins some people might have heard of and consider widely collected) lost me more money than anything else I have ever bought or sold. Conversely, I can provide the same type of documentation in relation to various Seated coins (many of them obscure varieties) I cherrypicked and in some cases sold for 5 times my purchase price. I think it is poor advice to basically insinuate that collecting rare date coins, or specializing, is somehow a plan for failure. James

Walkerfan

@Catbert said:

@Walkerfan said:
Here are a few suggestions based on my experiences. 50 years as a collector and 30 as a Walker specialist.

1. Pick a series and focus on it… something that you like or have an interest in, either because of the history, or because of the way it looks or maybe some personal connection.

2. Buy some books and magazines.

3. Look at a lot of coins in the auction archives. It’s free to join.

4. Find a mentor either a collector or a dealer or both

5. Find your optimal grade range that you want to collect.

6. Buy the keys first

7. Buy the best you can afford

8. Make friends and have fun!

9. Go to local shows and clubs

10. Spend a lot of time here, reading threads and asking questions and participating, when you feel you have something good to say or add. Asking questions is never stupid but being afraid to is.

11. Be patient.

12. Join one of the many registries.

13. Stay away from raw coins. They’re risky, even for people with years of experience, and much more so for a newbie.

14. Never buy a Coin just to fill a hole. Buy what you want or need the first time around.

15. Buy the coin not the holder. Don’t get fixated on numbers on inserts.

I am a @Walkerfan and this is a good list, but for a newbie, I think some context should be added about "buy the keys first" and "buy the best you can afford". When one has little to no knowledge, this could be an expensive big mistake. I like the term "buy the best that you understand". I know my friend Walkerfan knew what he was doing when he focused on the keys first.

Thanks @Catbert, my friend, that is a useful addendum. I certainly made a few mistakes and paid some tuition, when I did that, but I came out mostly ‘OKAY’. I had to sell my mistakes and sometimes at a loss. Luckily there were only a small handful. But you are 100% correct. That would be risky for a beginner and probably not recommended.

Morgan White

1. It's a hobby. Expect to lose money.
2. Pick a series like Franklin halves, or a defined type set like a Dansco 7070, and focus on that exclusively until you have enough knowledge to expand your goals.
3. Buy a Redbook as the starting point for learning about coins in general. Learn how to grade next.
4. It's a hobby. Expect to lose money.

lkenefic

True... it’s a hobby, but it’s a hobby like no other. For me, it comes straight out of my entertainment budget, right alongside dinners out and going to the movies. I’m under no illusion that I’m “investing,” and I fully expect that not every coin will be a winner financially.

That said, unlike a dinner and a movie, there’s at least some inherent value left when the fun is over. I’ll never see a dime back from a dinner date and a ticket to "Ishtar"… and that was a decidedly poor investment!

So yes, it’s a hobby... and an enjoyable one... but at least this form of entertainment leaves you with something tangible to enjoy long after the lights come up

Barberian

I think this is all excellent advice, but I wish to amend it by saying the ticket to reducing financial loss and even making a profit in coin collecting depends greatly on your grading and authentication skills. Knowledge is key in this hobby and grading skills are very important. While you develop your grading skills you should try to purchase TP Graded coins to rely on their expert judgment.

Make an effort to find a collector or dealer who can serve as a mentor in developing your grading skills and look at a lot of TP graded coins, both straight graded and details coins so one can distinguish and avoid problem coins. Failing to do so can cost a new collector a lot of money and disappointment. I recommend looking at PCGS+CAC and CACG coins because of their stricter grading than other TPG services.

dast1983

• You also mentioned ancients. Many ancient coins are surprisingly affordable! Lower-grade, common bronze coins from the Roman Empire or Byzantine Empire, for example, are available for $20-30. Obviously, some of them can be incredibly valuable, but as always, you have to know what you're looking for. I own a couple of ancients (one holdered, one raw) and for me, they served as inexpensive gateways to learning about the ancient world...However, 'ancients' encompass a very, very broad period of time, and they span almost the entire world! You'd be well-advised to start by focusing on one, such as Chinese ancients. Or Roman ancients. Or Egyptian ancients. Whatever. Just be warned, there's an absolutely titanic volume of information about the ancient world. Paradoxically, you may find information on ancient coins to be surprisingly sparse.

Yes. I found some bronze Roman coins for like $50 at EBay. Didn't buy 'em because I have no idea what I am doing. But, was surprised you could enter the ancient coins market for so little!

dast1983

@124Spider said:
Get educated before spending significant money. You'll be glad later.

This I've heard several times and will follow

Joe_360

Buy low, sell high...

breakdown

Walkerfan's list is a worthy one. I am also a fan of Mark Feld's collecting tips.

My favorite of his tips (with my paraphrasing): if something bothers you about a coin, don't talk yourself into buying it. If you do, the "something" will only bother you more with time.

BruceS

All great advice, especially the read, and then read some more tip,

so much great info in one place, use the search feature here, a lot. Most questions you have will most likely have been asked and answered.

Buy the best, most eye appealing coin you can afford at the time, in any series and don't settle.

And also realize your tastes will change over time, and that's okay.

Happy collecting.

-Bruce

Glen2022

Lots of good advice so far.

Other things that I haven't seen yet is try to avoid the TV sales as for the most part, those items are overpriced. After all, they have to pay for the TV advertising. That's not cheap. Also, my experience has been avoid places like Craigslist or other online marketplaces. Some are good, but many are not. Be very careful if you seek to purchase on any of these places. Occasionally, you can find a good deal on one of the online marketplaces, but be very careful. Do not buy anything unseen. The only exception to the unseen rule is if you are buying from a reputable and well-known auction house. If you use eBay, be sure there is a return privilege attached to the item. Many fakes are sold on eBay so be very careful. If you go to a coin show, ask questions. Most dealers will take the time to answer your questions.

Have fun. There's a lot to learn.

jmlanzaf

@seatedlib3991 said:
@jmlanzaf . I will openly dispute that statement. Most of what i have collected for the last 40 years would fall under the heading "thinly traded". I have the purchase records and the sales records to show that in one case: RB PCGS-64 Indian Head Cents from 1880 thru 1909 (A set of coins some people might have heard of and consider widely collected) lost me more money than anything else I have ever bought or sold. Conversely, I can provide the same type of documentation in relation to various Seated coins (many of them obscure varieties) I cherrypicked and in some cases sold for 5 times my purchase price. I think it is poor advice to basically insinuate that collecting rare date coins, or specializing, is somehow a plan for failure. James

That is NOT WHAT I SAID. If you consider the entire thread, what I said, and will repeat: thinly traded material can do very well and it can also do very poorly. It is virtually the definition of "thinly traded". Thinly traded does NOT mean rare and valuable, it means infrequently traded. Some material is very rare and valuable, other material is simply uncommon. The result of being thinly traded is that there can be significant volatility in pricing due to the entrance or exit of a single buyer.

You can "openly" dispute that statement, but there are numerous examples on both sides of the ledger.

ambro51

One good way to start is to get the Whitman folders for cents, 1959 onward. Then,…..obviously you search lots of Lincoln’s. You’ll learn to grade, how to spot the plethora of “rare” varieties, the uncommon dates You might find a circulated proof. or a double die. Lots of us here started that way. The goal is evenly matched shiny Unc coins. This is Absolutely the ONLY way to collect coins without any risk of counterfeits or Overpaying . You never lose money collecting coins from circulation.

coastaljerseyguy

Estimate how much you think you will spend in total, even taking into consideration a long time horizon. Think this will help pick the right series if you plan to build a complete or even near-complete collection. I ventured into SLH's after starting my Morgan and Peace collection, mostly G to VF. Then realized a couple of years later I could never complete the series after getting > 60% of the series. Didn't realize how expensive some of the dates were and how hard to even find the right ones to fit collection. Sold them, didn't lose money, but felt defeated doing so. Like to finish what I start.