Hooked another newbie
coinlover
Posts: 81
I've been reading this board for about a month and you guys (and gals) are majorly impressive in your knowledge. I started with my grandfather's old coins and now I'm hooked. I love them all! Indian heads, Morgans, flying eagles, mercury dimes, seated liberty, silver, gold...the list goes on.
So here's the question...how do I start a real collection? I don't really want to limit myself to one particular kind of coin. I've heard a little about type sets. What exactly does that mean? One of each kind of coin? Like one seated liberty dime? Or are varieties (like with and without arrows) included? Should they all be a minimum of some grade? If so, which? I'm not sure yet what my coin budget will be. Which do I collect first? My first goal is the pleasure of owning something beautiful, something touched by history. Value is secondary but still important. Thanks.
Karen
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So here's the question...how do I start a real collection? I don't really want to limit myself to one particular kind of coin. I've heard a little about type sets. What exactly does that mean? One of each kind of coin? Like one seated liberty dime? Or are varieties (like with and without arrows) included? Should they all be a minimum of some grade? If so, which? I'm not sure yet what my coin budget will be. Which do I collect first? My first goal is the pleasure of owning something beautiful, something touched by history. Value is secondary but still important. Thanks.
Karen
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"In matters of style, swim with the current; in matters of principle, stand like a rock."
-Thomas Jefferson
-Thomas Jefferson
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Comments
Mosts type sets usually include the major varities like arrows and without arrows that you mentioned. Also the type 1 and type 2 Buffalo nickel.
Cameron Kiefer
my hotels
I don't know a whole lot (ie, next to nothing), but it sure is fun learning about coins here. (Learning a bit about human nature, as well!)
Welcome, and have fun!
Actually, you already have a real collection, considering what you got from your grandfather.
A type set is whatever you define it to be, and as you said it is one of each type of coin. Some people include varieties, some don't. There's no "official" rules.
My suggestion is figure out your budget. Then look at what it would cost you to complete the type set you want to work on, and how much time it would take to complete it. Is it 20 years? You might want to either narrow down the focus of the set or drop down to a lower grade because that's a long time. On the other hand, if you could complete it in one year, you might want to do it in a higher grade or expand the focus of the set.
It would be discouraging to start a set then find out the last coin or two are too expensive. I personally think a well-matched type set (by well-matched I mean coins in comparable condition) is very attractive whether or not the coins are high grade or XF/AU.
The choices are yours. Do you have any coin books?
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
The neat thing about type collecting is you get to learn about so many different kinds of coins.
Before spending money on coins learn as much as possible about the coins you already have. Buy a red book.
The thread Cameron point out is a good one. There are many ways of going about collecting type coins. Personally I go for the most common coin of each type. This allows me to buy higher grade coins for the same money.
To keep things interesting I would suggest getting one seated dime, one buffalo nickel and so forth before getting the sub types like the with arrows seated coins or the two types of buffalos.
Buying circulated coins as opposed to high grade mint state ones will allow you to buy many more types.
....... bob**rgte**
as a newbie, wish i could walk you through this process in person, but the easiest way to become discouraged is to buy a bunch of the wrong coins up front, then be disappointed later. since you already have a starter set, i'd take it around & ask dealers what coins they like out of it & why.
hope that helps!
K S
I think Dorkkarl gave you really good advice. Be patient to see how your interests shake out. No need to hurry, it can be a lifetime thing.
I've been focusing on Peace dollars, Morgans and Indian Head pennies but my real focus is what I'll call "Unusual" coins ie. "Raised Mound" Buffalo nickles, 1883 "No Cent" Liberty nickles, 1943D Steel/Zinc pennies etc.etc. The history of these "Unusuals" bring the coins to life. They're fun to discover and even more fun to collect.
You've chosen a great site to visit to learn about coins... Twowood
In addition, let me add that maybe you should also purchase an item or two or three but only items that can be bought for what would be considered low cost for your budget. This way you will also be involved in the selection of coins and it may help you develop a sense of what you might like to collect.
Joe.
Good luck, and happy collecting!
Again, thank you.
Karen
-Thomas Jefferson