New to Coin collecting and this Group
GaryMcColley
Posts: 40
Hello Everyone
I'm a new guy starting to collect Coins. I want to work on the graded coins but dont know where to start! Registery sets are my goal! My first set I would like to be the Proof(just like the look better) Roosevelt Dime. If anyone can help me out it would be great!
Also I went to a PCGS Authorized dealers coin shop this week for the first time and he did everything he could to talk me out of buying slabed coins. Saying that slabed coins were just the latest fad, that is would not last long and I would be out a bunch of money in the long run.. what you think??
Gary
I'm a new guy starting to collect Coins. I want to work on the graded coins but dont know where to start! Registery sets are my goal! My first set I would like to be the Proof(just like the look better) Roosevelt Dime. If anyone can help me out it would be great!
Also I went to a PCGS Authorized dealers coin shop this week for the first time and he did everything he could to talk me out of buying slabed coins. Saying that slabed coins were just the latest fad, that is would not last long and I would be out a bunch of money in the long run.. what you think??
Gary
0
Comments
Your coin dealer was right and wrong. If you are going to collect an average set of Roosevelt Proofs you probably don't need to buy certifed. Rosey proofs are quite common in mid proof grades. However, if you are going to collect high end Cam and Dcam Proofs, as a beginner I would strongly recommend sticking with PCGS & NGC slabs. In fact, until you feel extremely confident in your personal grading skills I suggest for any coin over $50 or so you stay with PCGS & NGC slabs. There are lots of sharks out there that will screw the uninformed every chance they get.
Better to start slow and buy some books first and also buy some inexpensive circulated, uncirculated type coins and rolls to get your feet wet!!!
Buying slabs may be harmful to your financial health without the proper knowledge to protect yourself from overgraded slabs.
Good luck!!
Buy the book before the coin. You might try buying a couple of cheap PCGS or NGC slabs on eBay to get your feet wet.
Good luck and have fun.
I don't think slabs are a thing of the past and can't think of why your dealer might say so ... unless he has a lot of "raw" coins he's hoping to gouge you for (which I hope not). One thing you should ask him is what clubs are around. That can help you broaden your contacts and expand your learning. DO invest in a copy of the ANA Grading Guide I told you about and a copy of the "Redbook" and, depending on the series you decide to collect, the folks here can recommend other valuable references.
Note which members here are experienced in the same types of coins as your are and don't be afraid to ask them questions. Most of them have barks worse than their bites.
Come on over ... to The Dark Side!
Brian.
Welcome! I completely disagree with the dealer's advice. The slab gives you authenticity and a professional opinion, typically at no extra cost. There have been millions of coins slabbed over the last 20 years... doesn't sound like a fad to me.
I bought a few coins raw to build a type set when I started, all from the same dealer. MS63 3 Cent Nickel, AU58 Large Cent, MS63 Barber dime. I sent them (and a few others) to PCGS. The 3 mentioned before were "body bagged" (rejected) as cleaned. I was steamed and could not find the cleaning on 2 out of 3. I sold them back to the same dealer, and in fact convinced him the large cent was also MS63 so I made more money that I paid (that was pretty cool). But I learned a valuable lesson and now only buy slabbed coins.
Then again, if you are getting your dimes from a sealed proof set, it's a safe bet they are authentic and uncleaned.
Have fun!
NOTE: No trees were killed in the sending of this message. However, a large number of electrons were terribly inconvenienced.
Type collector since 1981
Current focus 1855 date type set
As in the Roosevelt Dimes, I want to start by getting a few of the PR66 or better dimes to get my set started but i want to end up with the highest i can get in the future! Soon after that i would like to start with the Mercury dimes I have a bunch of them now but not in very good condition!
I will get the book you all are talking about asap. Also is it safe to say that if slabes are bought off of ebay they will be true graded coins?
Can they be tampered with? That is my bigest worry!
<< <i>Thanks everyone for the great welcom! I live in a area that is very limited on coin dealers! Walla Walla washington if you know where that is!
As in the Roosevelt Dimes, I want to start by getting a few of the PR66 or better dimes to get my set started but i want to end up with the highest i can get in the future! Soon after that i would like to start with the Mercury dimes I have a bunch of them now but not in very good condition!
I will get the book you all are talking about asap. Also is it safe to say that if slabes are bought off of ebay they will be true graded coins?
Can they be tampered with? That is my bigest worry! >>
..............gary, will they be true graded....not always, thats why i said buy the book.......some coins are overgraded , right now pcgs is in one of thier tight moods, so some could be under graded.... dont just jump in and start buying, take your time, try and go to some coin shows, and look at as many coins like the rosie dime you like. you will soon notice that even thought it says ms65 or ms66 on the holder some will look much better than others.. thats why i also said learn to grade your coins yourself...........dont become a slave to a number on a holder.
welcome to the forum. If proof roosevelts are your interest, I have two for sale. 1961 and 1964 - both PF68, one PF 68 Cameo. I would have PM'd you on this, but you do not have your PM activated. Feel free to email me sarasotafrank@hotmail.com.
There are two ways to approach registry sets. One way is throw money at it and buy the coin with the highest numbers on the holder. Another way is learn how to grade coins and buy coins that are properly graded IN the holder. The second method is far superior. If you can recognize the high grade Mint State coins from those that are just average you are on your way to forming quality collection at somewhere around a reasonable cost. REMEMBER: No all slabbed coins are properly graded, and sometimes the "bargain" at a cheap price is no bargain at all.
Determing grades, especially in the very high Mint State categories (e.g. MS-67 and higher) takes skill and even the experts can disagree about these grades. Learn to spot nice coins BEFORE you start spending big bucks for highly graded material. That will help you to keep the costly mistakes at a minimum.
Seriously though welcome to this wonderfull fountain of knowledge. Take the time to look at many coins from as many different sources as possible. I think the Tacoma coin show is next weekend. If so you should try to get there. There should be one in the TriCities area before too long and, of course, the Coeur d'Alene show is in April. At shows you have the opprtunity to talk to several dealers, many are willing to share their experiences when they are not making a deal and you are able to see alot of different coins in your area. Get and read as many coin books as you can digest and then but your new education to work building your sets.
Most of all have fun and remember that this is a hobby
Byron
My first YOU SUCK on May 6 2005
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
Got any Morgans?
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
You like Proofs, huh? Good. I'm an avid supporter of "print" so I would like to recommend a couple of books specific to your area of interest.
Cameo and Brillian Proof Coinage of the 1950 to 1970 Era, by Rick Tomaska
The Authoritative Reference on Roosevelt Dimes, by Kevin Flynn
Both will educate you further on the history, differences, what may be considered collectible in the series, and particulars on minting proofs and Roosevelt dimes. These are by no means the only books I would recommend, but, one needs to start somewhere. As mentioned, you may want to look, look, look before throwing your money into the hobby.
Good luck.
Yep I know where Walla Walla is. Grew up about 60 mikles from you and played Basketball against the High School team as a kid. Seems how the school was about 3 times bigger than the one I went to we always got kicked.
Enjoy your time here.
Ken
Most important thing to remember is "Have fun Collecting"
Walt
buying any slabbed coins off of Ebay. I really like Ebay.
Got any Morgans? Why yes I do all are cerculated and only 2 of them are in the better condition! and with my newbie knowledge i would say would be worth having graded, but who knows.
this is what i have as followes
1880-O
1885
1890
1891
1896
1900
1901-o very bad condition
1904-s bad condition
1921-d(3)
1921
1921-s
The 1885 and 1900 are the 2 i would think about sending to be graded! little wear and look to be a good full strike!
Since they were from my wifes grandfathers will i would say they are real and never cleaned
Gary