For New Collectors -- Ideal First Collection - grade doesn't matter

ANACONDA

When you first start collecting, you generally don't really have any idea of what to collect. So, it's likely that you will start collecting something that no one really cares about like three cent nickels. And then no one wants to be friends with you at the local coin club and then your wife concludes that coins are boring, and then you do too, and then you're gone.

So, here's a quick list of things that you might consider buying that would constitute, in my opinion, a cool collection. Collect this stuff and then you will have friends and your wife will start to hide your collection for her own enjoyment. Each one of these things is cool or has some aspect of coolness about it. And, take it from me, there's nothing more boring then the same coin 50 times in a row with just a different date or mint mark. B-O-R-I-N-G. (Excepting early copper and maybe Buffalo Nickels and Lincoln cents.)

There are generally speaking, books about each individual piece or at least chapters about them in books, so there's plenty to do - you identify one piece, buy a book about it or find out about it on the internet, read the material, learn how to grade the piece, then start hunting for the piece, find the piece, chisel the guy for every penny he's willing to give up, buy the piece, send the guy a thank you note and tell him that he just helped a cripple find a reason to live (even if it's not true, he'll fell better about getting stabbed on the price) study it with the book/internet material, then zero in on another piece and start over.

I believe that every piece can be had for undrer $300 each except the chain cent and the two gold pieces.

This is just my opinion. All of it. Above and below.

Chain Cent - 1793
Liberty Cap Cent dated 1794
1955 Double Die Lincoln
Three Legged Buffalo Nickel - 1937-D
Bust Half - mint state (not proof)
Seated Half - mint state (not proof)
Proof Kennedy Half
Morgan Dollar - mint state (not proof)
Monster Toned mint state Morgan
1921 Peace Dollar - mint state (not proof)
Proof Ike Dollar
$1 Educational Note from 1896
$10 Indian
$20 Saint Gaudens
Oregon Commemorative Half

Oh, and one last thing. Stop lurking. You can hide behind an icon and ask dumb questions and no one will even know your real name. Most folks in here can spot a newcomer in a heartbeat but we all want to help because we've all been there too, even though we'll probably tease you from time to time. But you can handle it. Russ does and he just started this past spring.



adrian

KoinKollector

Grade doesnt matter I thought? Why recomend buying mint state coins? Face it, when people 'just start out', it isnt likely they will be buying $300+ coins. Its a gradual build up. Get into it slow... I do like your reccomendation on books, can never have enough of them laying around.

my3cents

Some of the first coins I bought were 3 cent silvers - I thought they were cool I had one that graded ANACS MS-61 - a real nice one-- traded it to LM for another cool coin.

kieferscoins

my3cents:

He said three cent nickels. Three cent silvers are cool and fairly cheap in AU. I have a few also.

Cameron Kiefer

Geoman

As a newer collector who has just started out myself, I'd like to give my opinion. First off, I started with circulated Lincoln cents just to be able to work on something cheap, and get the satisfaction of completing some Whitman folders. I did not have $300 to spend, rather $20 as most new ,younger collectors start out. Then I decided what I wanted to collect, and it was half dollars - Walkers, Franklins, and Kennedy's. Now, I have moved up to "mint state" coins, with the Walkers short set in MS64, Franklins in MS64FBL, and Kennedy's in PF69DCAM. So far, none of the Proof Kennedy's or Franklin's have cost me over $20. And the most I have ever paid for a coin was $48, for a MS64 Walker. I do not think I would ever get the coins on your list (besides the Kennedy PF), as they do not appeal to me. And I am guessing that most begining collectors won't look at that list and say now there is what I want to collect. IMO, I collect what is fun and enjoyable.

cladking

These are all great collections and especially good for new collectors.

It's not necessary to buy expensive or even mint state coins to get started in the hobby.
Much of the knowledge which can get a younster or newbie going in numismatics can be
gleened from collections of circulating coinage. These coins are very overlooked and contain
many surprises. The cost to put together sets is nominal and can lead to a lifetime of col-
lecting. For those who insist on mint state coins, there are the states quarters. These can
still be assembled from circulation in mint state though admittedly some of the early states
are getting tough to find nicr than AU. For those with more money there is a whole world
and many epochs available. There are ways to collect almost any series on a shoestring or
at great expenditure. It is wise to learn faster than you buy and this requires that you oc-
casionally sell something so you can see how you're really doing.

RLinn

I think Anaconda's list is an interesting mix that certainly would expose a newbie to a wide variety of numismatic items. I like it for that reason alone. For very similar reasons, my first collecting efforts focused on 20th Century type coins. But then I didn't have to worry about JFKs, SBAs and Ikes because they didn't yet exist.

shirohniichan

Here's my suggested "poor man's" version of my big cousin's list:

1857 large cent (many melted, yet they're still affordable)
1864 two cent piece (first coin with "In God We Trust")
1851-O trime (only subsidiary [less than 90% silver] coin struck in Nyawlins)
1883 No Cents Nickel (widely hoarded as an error)
1875-S 20 cent piece (I'm working on a book to explain my reasons for the double dime)
Bust Half (the US's biggest silver bullion coin for int'l trade for years; still cheap in XF)
1859-S seated dollar (first de facto trade dollar for use in the Orient)
1921 Morgan dollar (resurrected design struck with transfer dies)
1921 Peace Dollar (deep dish design didn't catch on; struck only in the last month of 1921)
SBA (the ugliest US coin ever made; great money-saving idea that didn't catch on)
Columbian Expo Commemorative Half (first commemorative coin)

Only the 1859-S dollar will cost more than $100, and a number can be had for less than $20 in decent circulated grades.

keithdagen

I recommend a 20th Century Type Set to anyone starting out. You get a large mix of coins, most are inexpensive, and if you are buying raw and then slabbing, mistakes in clad coins aren't as costly as mistakes in classics.

ANACONDA

My list certainly was put together with at least one purpose which was to....."expose a newbie to a wide variety of numismatic items" and just as importantly, to give the new collector some grist for the conversation mill. With the things in my list if you are just starting out, you'll have plenty to talk about (for the next several years) with a whole host of different people. Making interpersonal connections is for many, the most rewarding aspect to collecting. If you are pursuing a wide variety of things, you?ll make more friends than if you are just starting out AND chasing some esoteric part of the market. Of course, though, with the internet, it is easier to connect with those of similar interests, even if it is an esoteric one.

KoinKollector - pardon my ambiguity....i was attempting to differentiate between those coins minted for circulation ("Mint state" coins) and those coins made as proofs, for collectors.

Furthermore, many collectors start out buying coins that are way too expensive for whatever budget they have - yes, many collectors start out buying $300 coins....and I think it is wise to encourage people to save for and buy nice items occasionally as opposed to the adoption of the buying strategy, the objective of which is "my collection weighs more than yours and I have more items than you.? I have been impressed most by the partial row of 20 stunners as opposed to the briefcase chock full of common garbage. And it doesn?t matter what your series is - if your careful and disciplined, your assemblage will be more rewarding than if you are careless or are constantly changing focus.

I have contended (potentially erroneously?) that you should add 6 to 12 coins per year to your collection. (I've been collecting rare books for 25 years and draw from those experiences and from meeting more than a few coin collectors in my day....). I have met guys who have box after box of coins that they themselves have said "ya know, I wish I had focused on a type set or a series and not just bought a large number of randomly chosen items......discipline gets you fewer bangs but they last longer.

There are many collectors out there who regret endless poundages of mint sets, Franklin Mint trash commemoratives, circ twenties at 10% over melt., etc.) and bemoan the fact that they have so much money tied up in so much trash which is expensive or time consuming to off-load.

adrian

DHeath

Adrian,

A box of coins, or this. It would be a small collection really, but one that would never be difficult to liquidate, and one most other collectors would appreciate talking to you about.

CLASSICS

to someone just starting to collect, i do think it would be wise to first start buying some books, and do some reading, it would give them some idea what types of coins were made , how they were made, who designed them, and the history behind them, and not get into the mind set of values only.

cladking

<< <i>

There are many collectors out there who regret endless poundages of mint sets, Franklin Mint trash commemoratives, circ twenties at 10% over melt., etc.) and bemoan the fact that they have so much money tied up in so much trash which is expensive or time consuming to off-load.

adrian >>





I have to assume you aren't referring to the clad mint sets since you imply that they are trash.
The clad mint sets would be extremely expensive and time consuming to sell off, but one could
console himself with the substantial profits. It would be difficult not to make money even if one
purchased only run of the mill mint sets. Anyone who has purchased these with an eye to col-
lecting or resale would have had to already done very well.

CarlWohlforth

I like those suggestions, all of them. I kept getting sidetracked when I started. Then I finished a set of Proof Jefferson Nickels. Then I moved on to proof type coins. I liked the feeling of accomplishment when I finished the nickels but the type coins give me much more to learn.

When I realized I would never finish a set of gem Buffalos AND a set of DMPL Morgans AND a set of gem Mercury dimes AND a complete type set I knew I needed to focus. I sold off more than half my accumulation. I learned more about coins from selling than I ever did from buying. I think I have a more interesting collection for it too.

IndianHeadMan

Nothing against you Annaconda, you are a great board member, but this post just goes to show how out of touch some collectors are with "new" collectors. Most people who can afford to drop $300 on a coin won't fall into your category. The new collectors who are searching will have at most $100/mo to spend more likely around $50.

ccr

I haven`t gotten around to do this myself but, I thought lately that it would be kinda fun to get a Mint State 1880 - 1889 P-Mint of Morgan Dollars. Even a complete set of P-Mint Morgans most are inexpensive. The Proof-Only 1895 wouldn`t be included in the set.

DMWJR

Sage advice Adrian. A nice combination of exposure and value retention. Actually, a well thought out list of coins I would be proud to own at any price/grade level. I like the poor man's list too.

One can never fully avoid the costs associated with the learning curve (no matter what your hobby or business). Your list certainly minimizes it. The only thing you didn't prevent on you list was paying for overgraded coins. Every collector has done it, especially when s/he was a newbie.

For the coins on your list, I would recommend a newbie buy them holdered in ANACS, NGC or PCGS. You won't find an increase in costs if the coin is already holdered (don't holder them after you buy them!). At these grade levels, I don't think you will find much difference between the three services. A newbie has to learn to grade, and must see many coins in person (not just in books).

coinlover

I am a new collector. I inherited a small collection of circulated coins from my grandfather this summer. The first thing I did was buy reference books. They have so much information. For someone with no experience collecting coins it was a bit intimidating. I didn't even have the beginning of a foundation. All types of coins beckoned to me from the pages I studied. After learning a little I purchased a variety of raw, circulated coins from Ebay. Nothing terribly expensive. Holding the coin and comparing it to what the books say about it helps me to understand better.
It's exciting to be able to see a picture of a pop 1 coin. But odds aren't good that I'll ever hold it. (Plus it would be slabbed and I like the nakedness of a raw coin). It's also exciting to hold a circulated liberty nickel and wonder what that nickel could purchase when it was new and who held it.
I'm not sure what direction my collection will take. Right now I feel passionately about too many coins. I would like to collect a high grade (yes-slabbed) type set. Also would love to make a raw, circulated mercury dime and indian head cent collection. And those gorgeous Morgans! An MS set?

Anaconda,
Thank you for your post. I always appreciate ideas as to where to start. Mind if I use your list as a starter list for my type collection?
Karen

supercoin

I agree that many series get tedious because of their length, so I like type sets for their diversity. But one problem is the difficulty in becoming enough of an expert in multiple series. It's far easier to learn the ropes in one series.

If only there was a relatively short series with a lot of variety, maybe several design changes within the series, even a couple different metallic compositions. Ideally some nice big coins that are easy to study. As long as we're dreaming, how about it being very inexpensive to get started, just a few bucks per coin, but with exceptional examples being worth thousands. Even better, what if there were a series that is still largely underappreciated by the vast majority of dealers, and rife with cherrypicking opportunities even for a new collector.

If only...

nwcs

The educational notes are so cool. Too bad this country doesn't produce that level of artistry anymore. I would LOVE to have one.

DMWJR

uh . . . Supercoin . . . that dream would be the 1878 VAM's (for a one year set of varieties), or the Peace Dollars, if one want's a relatively inexpensive short series in its entirety.

There are about 200 different varieties of 1878 Morgans. Some are dramatic doubled and tripled dies, obverse design changes, reverse design changes, interesting clashes ("E" reverse). Some are stunning and some are merely "technical." And the best thing of all is that there are new discoveries to be made within this year.

Peace dollars are underpriced big beauties that a collector can enjoy inexpensively in most all dates/mm's.

cladking

<< <i>I agree that many series get tedious because of their length, so I like type sets for their diversity. But one problem is the difficulty in becoming enough of an expert in multiple series. It's far easier to learn the ropes in one series.

If only there was a relatively short series with a lot of variety, maybe several design changes within the series, even a couple different metallic compositions. Ideally some nice big coins that are easy to study. As long as we're dreaming, how about it being very inexpensive to get started, just a few bucks per coin, but with exceptional examples being worth thousands. Even better, what if there were a series that is still largely underappreciated by the vast majority of dealers, and rife with cherrypicking opportunities even for a new collector.

If only... >>



As long as we're sharing a pipe dream, how about if it were still possible to pick up
some of the rarities for the price of a common coin? And when you did find one of
these super coins it came with 9 or 10 other very unappreciated coins for free? So
unappreciated they are sometimes referred to as trash? Someday perhaps, they'll
make a series like that but the problem is that it might take five or ten YEARS for
people to realize just how desirable these US coins really are.

coinrookie

Adrianand others (a newbie`s thoughts).
I collect a few of the traditional registry sets. I know modern junk Proof Ikes,Sba`s, and Sacs. But I like them. Also a 1943 all mint ms-67 date set. But I find that the set that keeps me most interested is not a set at all. It`s my odds and ends set. It has a few buffs, indian heads,my home state quarter and a1958 proof set.. I plan on adding a Morgan, Peace Dollar, ST Gaudens, 5 dollar Indian, the R-rated version of an SLQ, and some seated coins(not sure on denomination). I have only been collecting about 10 months. I always read that you should have a goal in mind when collecting. I take this to mean a complete set. But I think there is too much importance placed on such a structured set. Maybe that is just newbie thinking. But I think that the odds and ends set will always keep my interest. Also I believe you should by the highest grade coin that you can. But you should always spend a great deal of time trying to research your intended purchase. Tad,the Ikes fit the bill nicely don`t they

cladking

Coinrookie;

No matter what you hear around here there are no "junk" coins, just common and rare
and they are all collectible. There is no right or wrong way to collect and you get to decide
the focus and goals for yourself. If you like a lot of variety then you can collect type coins,
or world coins, or even tokens and medals. You can even decide to collect everything! The
only goal is to have fun, and if you do it right you'll learn a lot and make some friends along
the way.

meos1

I have had the fortune to inherit the collection I admired. My father painstakingly put away each of the coins in this collection. Granted they don't look MS/PR. But as a day to day collection I think he did great. I collect that which has eye appeal, is priced correctly, and adds value to the current collection. My two cents.

Dan