Options
im going back to my natural calling
atarian
Posts: 3,116 ✭
well it seems here like everything ive worked hard and dear for has endedup being either fake, cleaned or damaged. the 1914d i was so proud of i found out was a 250 $ lie. i think im just gonna go back to my video games where i know the feild and know im sucessful. i think this also might have killed my fun searching for coins in the change since it will never add up to anything, its been fun talking to you all. i must say youve all been nice to talk to .
<poof>
<poof>
Founder of the NDCCA. *WAM Count : 025. *NDCCA Database Count : 2,610. *You suck 6/24/10. 
In memory of Tiggar 5/21/1994 - 5/28/2010
In memory of Tiggar 5/21/1994 - 5/28/2010 0
Comments
Check out a Vanguard Roth IRA.
Bulldog
No good deed will go unpunished.
Free Money Search
that try to rip you off are around every corner.
in this hobbie knowledge is power. the more you know the better chance you have of not getting ripped.
i agree to stick around here and soak up all this `free` and extremely valuable info you can get here.
live and learn dude.
learn more and live better.
We all get frustrated from time to time on here and everywhere else. You seem to be upset you might have got burned a few times. Take it as an education and learn from it. Not sure if you've done this on here... but I see many ask opinions here that don't have experience in grading, detecting AT, or cleaned coins. Many knowledgeable folks take the time and give their opinion that it's probably a bad coin. When in turn the person asking the opinion thinks it's such a good deal they buy it anyway.
I guess I'm trying to say there are many people here willing to help, but they sometimes get frustrated just like you when the person goes and gets ripped off anyway. As far as checking your change and it not amounting to anything? Probably not, but you never know. Too many people think of coin collecting as they are big investors and should be looking at it as a hobby.
Until you're good at what you like doing in coin collecting and even after, find a good dealer to work with and buy some nice decent coins. No they won't be ebay prices or cheap, but they probably will be better quality and quality is where it's at IMO. Good luck.
I really hope you will stay with us and with coin collecting. You have already learned a great deal even though it was the hard way. If you stick with it, you will become better and wiser from this experience.
I have gooten very upset and wanted to quit this hobby a few times myself, but in the process I have met some very good people
Jay
east coast dealer, that I'd been royally ripped. Most were cleaned and none were
uncirculated.
The revelation nearly soured me to coin collecting.
After licking my wounds ,I decided to educate myself and joined this forum.
At present I buy only graded coins.
Eventually, I will become good enough to judge a raw coin myself.
Sorry you're going through the school of hard knocks.
I can only suggest that you hang in and learn as much as possible
before paying good money for a nice coin.
When you recognize a real bargain and can add it to your collection,
it's a great feeling !
Skipper
tom
This is also an example of how new collectors will feel if in a couple of years, if the coins that are hyped today become worth a fraction of what they paid. This is the danger to the hobby that many of us worry about from over-hyped sectors.
Don't quit the hobby. Spend a lot of time looking at coins in PCGS/NGC/ANACS holders and learn to grade. You'll reap the rewards of this effort for a lifetime.
Course, I was buying coins at the age of 8.
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
Well here is my thought on this.
I'm 20, and I triple your debt, but then again my assets outweigh the debt, so it's not bad. I go to school and work hard. My most expensive coin is only $12, and I got it for $4 at a coin show, this weekend. I look at coins constantly. I have been very consistent on grading. I never look at the grade; I grade it myself then look, and so far I'm doing great. I wasn't willing to spend more than $2 on a coin until I knew everything about the set I want because I'm not made of money. Now I'm ready to buy key dates because I'm pretty confident in my grading skills, and cleaning-detecting skills.
I got ripped off maybe once or twice so far, but that only accumulated to a loss of like $1. I try to bargain and make good relationships, so that dealers will have a hard time selling me the "bad" stuff. My dealer told me not to buy his coins, and go to the show first because I could find deals.
Well the bottom line is...
You came in this hobby too fast, and hoping big gains, which is what most greedy people do, and expect.
PS. I guess I'm sorry for lost.
Dave
In Laurel
MD
In Laurel
MD
Just a fist full of Dollars
<< <i>You're getting some nice offers here. Take someone up on it. You may be able to get some money back. Don't give up too soon. Collecting doesn't have to be expensive. >>
Dittos to this, especially the one from Laura Sperber at Legend. (Take her up on it!) It took me a long, long, time to put $2,000 into my collection, and it wasn't EVER with the intent of making fast or even slow money off of my "investment". I have been burned too, mostly buying raw from eBay in the start, but NO education is cheap is it? This is a great and rewarding hobby, where knowledge, (however acquired) is power. Best of luck in all your future endeavors, and have a blessed holiday season!
Joe
1. $1,000 CASH IN THE BANK as a beginner emergency fund
2. DEBT FREE except the house, i.e., NO car payments, NO credit card bills, etc.
3. 3-6 months of expenses as CASH IN THE BANK to finish the emergency fund ($10,000 is a reasonable goal)
4. Invest 15% for retirement (matching 401k/403b FIRST, then Roth IRA, then non-matching 401k/403b)
5. Invest for kids' college (if you have kids)
6. Pay off the house early (if you have a house)
7. Save and GIVE like you never have before
ONLY AFTER you have done these basics should you even consider high risk investments like coins and precious metals. If you want to SAVE for a house, you should do it in a money market account that pays about 1% interest. "Saving" is building up money for use under 5 years. "Investing" is for building wealth, and is 5 years or more. You need to "save" for a house in a low risk investment like a money market account.
After you have completed step 3 above, THEN ABOVE AND BEYOND THIS $10,000 EMERGENCY FUND, you should SAVE for a house. I hope this helps. Best wishes to you.
Let me add that I own several houses, and have done everything SLOWLY over time. You should save a 20% down payment ABOVE AND BEYOND your $10,000 emergency fund. Your monthly house payment should be about 1/4 of your monthly take-home pay for a 15-YEAR FIXED RATE CONFORMING MORTGAGE. DO NOT GET A 30-YEAR MORTGAGE OR AN ARM OR A BALLOON PAYMENT!!!!!
Check out a Vanguard Roth IRA.
I have been collecting for a grand total of 22 years now, and I have yet to buy a SINGLE $100 coin. I also have yet to buy a slab or a piece of gold. I enjoy what I do, and don't need to get rich from it. My enrichment comes from learning a few things I can pass along to others, and enjoy myself along the way. If you don't love coins for coins, then deal in stocks.
The Lincoln cent store:
http://www.lincolncent.com
My numismatic art work:
http://www.cdaughtrey.com
USAF veteran, 1986-1996 :: support our troops - the American way.
I couldn't agree more with the bulldog...
You are young and have a lot more mistakes to make. A lot of us would like to trade places with you. Trust me on this, being old and making mistakes gets a lot more expensive.
Best wishes.
When we are planning for posterity, we ought to remember that virtue is not hereditary.
Thomas Paine
There are many lessons to learn in life and even a higher percentage in the coin trade. I was reviewing my early purchases this afternoon and was reminded of a handful of 19th century raw coins purchased from major auction houses ( Heritage and Bowers) that were bought from catalogue photos as high Pop MS and proof "66" that were submitted to PCGS and returned at two grade lower 64s. That was an expensive lesson that sent me to Colorado Springs for two years of advanced grading school and hours spent at auctions evaluating slabbed coins. The money lost will not be recovered but I was determined to learn through the frustration and expense which made me a more capable collector.
The field will be better off when dealers and collectors will not pass off incorrectly graded and damaged coins to unsuspecting inexperienced buyers. We need to be responsible for our own actions.
Second.... Dollardude has it right.... His financial advice was sound...
John
siliconvalleycoins.com
i have a house things set for me.
i got 1 car getting a new one in the spring. most everything i have to worry abotu is nonexistant.
cell phone
aol bill
and 100 in my account are my gaols and paying dad off. thats abotu all here.
and still i slammed witha loss
plsu i hear both its a fake and its a low grade so it can be either or on the 1914d
loos normal but eay low graded
like you all showed my 1883 no cents was cleaned.
my ike looks bad
its like i cant catch a break
big question if that otehr 1914d that you all call vf came back in a ef40+ house from pcgs would it be worth my 385?u tell me
the only thing you havent made bad abotu is my 1885 lib cause i havent brought it up
You are young...if you have costs coming up, then learn the coins but don't buy them. Coins are seldom good as short term investments (or even long term). Buy bullion if you need small investment, but even that isn't guaranteed.
If you wanted to stay in the hobby, then don't buy for awhile (I know that is hard)....read/learn. This forum, rec.coins.collection, magazines, coins shows, etc.
Buy some slabbed items so you at least know they are authentic. Some don't like slabs. Some people are so stuck on themselves and how great their grading prowess is that they don't need slabs and so they fiercely downplay them. In truth, they may be great graders and always right, but, their being so good doesn't help me, so I will buy slabbed coins. I also buy raw from a couple dealers at coin shows and from members here. I always ask them their grade and then I compare to what I think so I can learn (and, if I can, I add in a slabbed one in the series to compare to as well).
It is an "always learning" hobby.
So, do what you need to. If the people who sold you the possible fakes/cleaned coins misrepresented them, and you can name names, then do so...otherwise, someone after you will get screwed too....just saying, as some do, " a national dealer who is on the east coast and advertises in the xxxx" doesn't help much. Not everyone is going to PM. And, as long as you are just stating fakes, you should be safe. Saying "I bought a 1916-d merc from XYZ that was advertised UNC but was identified as fake/cleaned by GRADING SERVICE or local dealers" is ok to say I do believe.
I believe I have paid a bit too much on some coins, and I may even have a cleaned one or two (not totally sure yet....it is a close call actually), but if I find that someone is consistently doing this and/or really ripping on me/others, I will certainly speak up. If it is a closecall (I pay MS63 money and it is MS62 or even MS61, then, it may be close and that was debateable).
Whichever your decision, good luck.
Ron
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Here`s one place, as well as other places that other members may suggest, is a good place to go for " raw " coins if you decide to come back to the hobby.
http://www.rare-coins.com/
Based on the posts that you have made, I get the feeling that one of the big reasons you got into coins was the possibility of profits in the future. That's not an unreasonable hope, no one who collects wants to see thier collection as a loss if they were to sell. So I understand your pain. But was this the only reason you came to coins?
Were there any other reasons that you chose coins as a hobby to explore?
Do you enjoy the coins as art? Do you like the idea of finishing a series? Do you like learning about a series? What else besides value draws you to the coins?
I remember your 1885, and it was a nice example of the date and grade, and you paid a fair price for it over all. You shouldn't feel bad about it. It may well form the core of a nice Liberty Nickel set for you. If you choose to work in lower grades, you can add coins to such a set at little expense, and at very low risk over all, learning to grade the series on the more inexpensive coins from the 1900's part of the series. As you learn, you can slowly upgrade if you like. The lessons you learn on the Nickels will carry over to other series in the future. You'll come to be able to tell cleaning has happened, what sort of toning has not been messed with, and so on. I takes time. You invest your time in education, it pays off in not being taken.
Before I started my Liberty Nickel set (which I planed to do in very high grade) I bought a 'Bag of Liberty Nickels' from an ad in the back of one of coin magazines at the time. There had to be a about 100 of them in it, and they were all G to F in condition, they tossed in a AU common date one also. Though none of the coins were what I was going to collect condition wise, I was able to examine the series and get a feel for how the pattern wore, and what a cleaned one would look like. How did I know one was cleaned? I cleaned it myself. I used several sorts of polish, and such to do it. That G-4 '06 Nickel taught me so much. I had a lot of fun to boot.
I hope that you take some time to step back, regroup, and come back to the hobby with new eyes, and a plan. There are a lot of people here on the forum who will help you in an instant if you ask them a question about a coin. If it's bad they will tell you. They will point you to dealers that will not sell you bad coins. They will help.
My only advice is that you get a handle on what you want from the hobby. It will then be much simpler to get it without so much pain. :-)
And just to make you feel good. Here is an 1885 Nickel that is beign auctioned right now on Teletrade. Note the grade and current price. You should be very happy!
Myriads
Do not spend more than $30/coin. You can buy great slabs for that price.
ie. 1881S Morgan PCGS/NGC-63
ie. 1943D Merc. PCGS/NGC-66
etc
etc.
The mistake you made was to purchase expensive raw coins before learning how to grade, now you need to do the following to correct those mistakes.
1. Join the ANA. Read the Numismatist every month.
2. Subscribe to Coin World. Read it every week.
3. Go to shows. Look at slabs. Buy inexpensive slabs and use the ones you own and the ones you look at to learn how to grade and what natural coins look like.
4. Purchase three net graded ANACS coins that have been cleaned. Different denominations and use then as examples of what cleaned coins look like.
Again, take this advice before you give up. This is a wonderful hobby and now you need to take the initiative and apply the advice you've been given.
Good luck!
The Ludlow Brilliant Collection (1938-64)
<< <i>Purchase three net graded ANACS coins that have been cleaned. Different denominations and use then as examples of what cleaned coins look like >>
Now this is great advice for anyone in the hobby. I bought one just to study. Many or most Bust halves have been cleaned at one time. I bought this one even though I knew the look of them. I always just walk right by coins like this, so I thought it would be a good idea just to have one.
accept it in return forever whether it's in the holder or not.
I always advise newbies to start small and get a feel for the hobby and the market. Then
they should sell a coin from time to time because this is where you really learn about the market.
There's no need to give up entirely even if it comes to pass that you have lost all this money.
There are ways to collect that risks very tiny sums and it will keep you involved until you gain the
knowledge and confidence to spend more money. Whatever you decide I hope you have the best
of luck.