New to collecting- What should I be buying and what should I be shunning?

krazyace5

Hi

Pretty new to coins and was wondering what types of coins I should be buying for a good investment? Whats a good value?

And also what should I stay away from that may be overpriced or just not investment worthy?

Thanks

Oh yeah, and what grading services should I stay away from besides SGS and TCGS? I know PCGS is the most reputable, what others can
I trust?

oldcameoproofsguy

Collect coins for fun.

A word of advice. spend a year on this forum before making any strong numismatic purchases. There is a lot of wisdom and information on these forums. Trust me, you'll be glad that you did.

Also, collect what you like. I don't feel there is a right or wrong choice there.

Most of all coin collecting is a hobby; have fun with it.

dollardude

Welcome, Krazyace5! Personally, I would collect whatever you enjoy and makes you happy. I would pick either a complete series or a type set. Me, I don't collect as an investment, but, if I did, it would probably be high-quality examples of any series and key dates from all series. According to my local dealer, early bust halves are undervalued right now, as few people collect them. The coin market, however, is very hot right now, so everything's probably a bit overpriced compared to, say, five years ago. The most popular series, IMO, are: Morgan dollars, walking liberty halves, mercury dimes, Lincoln cents, and Washington quarters. This, of course, is a matter of opinion.

I think the consensus here in this forum is that PCGS and NGC are the best. After these, it's mostly a matter of opinion, and the rest rank far below these two industry leaders. IMO, ANACS would be a distant third. I would stay away from all the others (or, at least treat the others as "raw"). If you check the auctions, you will see that most of them are PCGS, NGC, and ANACS. The main reason ANACS gets involved here is because the other two won't even grade "problem" coins.

I hope this helps.

relayer

Welcome to the Forum.

Don't buy any coins for investment. Buy the coins you like.

Until you have honed your grading skills, only buy PCGS, NGC or ANACS coins.

Note that ANACS will slab problem coins, but they will note the problem on the holder (like cleaned, corrorded, etc.)

Treat any other slab as a raw coin.

mgoodm3

As above. Collect what makes you happy. Collecting for investment is not generally a good idea because you could probably make on your money elsewhere.

1957joe

Buy the MOST popular coin on these boards (and my personal favotite....... Franklin Halfs)
Oh yeah, welcome to the boards!

Fragmentum

I also welcome you to the boards and echo all the above comments. Do not purchase for investment value. Purchase coins that you like, be they 'raw' or 'slabbed'. If your going to buy mint state coins that to you may be a bit 'pricey', then yes, by all means, purchase them that have been graded and authenticated by PCGS, ANACS or NGC.

Wondo

Buy coins YOU like!!!!! Believe it or not, some people here buy Franklin Halves!!

Have fun and welcome!!

prooflike

Get a RedBook and look at all the pitures and see what you like.

Russ

krazyace5,

Welcome to the funny farm!

Shun early date Kennedy Half Dollars, they have no future. Everything else is fair game.

Russ, NCNE

louiskeller

I try to buy slabbed pieces for the price of the 2-3 grades lower of the raws in the redbook, and 2-3 grades lower than the redbook if Raw.

Stuart

krazyace5: to the forum!

Here's the best free advice that you will ever get: Buy the Book Before the Coin!! Get the "Red Book" Guide Book of U.S. Coins and read it. As Prooflike suggested, look at the coin photos and decide what looks interesting to you.

I also suggest doing a Google search on Coins and start surfing web pages to find a few good ones. I'm sure that you'll get lots more excellent advice from fellow forum members! Welcome aboard for a fun ride!!

Betta285

Krazyace5.

I personally don't collect from an investor's point of view, but i think a good way to get familiar with coins reguardless of collecting reasons are type sets. Whether's it's just a 20th century or a complete type set it's a good way to get familiar with the diffrent coin series and help to improve grading skills which is, in my opinion, necessary for any collector to atleat have a minumun comprehension of. Also, they're just plain interesting and fun! As many have said before and will say again, collect what YOU like....that's what the king of hobbies is all about.....

Cratylus

Gotta agree with what everbody else has said. If you want to view coins as an investment, then you are best off collecting extremely high grade, high-priced pieces. These have the greatest history of showing good returns and it's likely that trend will continue.

Personally, I think you should view coins more as a hobby and a passion. You should collect what interests you, what you enjoy, what you like the look of. Go to a coin show or a coin dealer in your area and just look around. Check out everything and see what catches your eye.

You are welcome to collect anything you want... except Barber Halves. ;-) These coins all belong to me! ;-)

Placid

1933 saints and 1913 proof nickels.
Welcome aboard. I hope you have a sence of humor

cladking

I'll echo everyone else's comments that coins are a great hobby and a risky investment,
but would add that the best investment in coins are the ones you have fun with. If you're
having fun you'll learn more about them and get more satisfaction. You'll know the good
deals when you see them and in the long run you'll likely do better than those who just buy
whatever is currently in favor. In any case you'll at the very least have a fine collection that
another numismatist would appreciate as much as you do.

redrum

Hello, welcome....
I agree with oldcameoproofsguy, hang out for a while and eavesdrop before buying at great expense. I'm coming up on a year now and am finally figuring out that a type set can be whatever the heck I want it to be!!!

ibzman350

michael

coins are NOT an investment.................................. does that mean some have not made killings on a regular basis? no........
but coins are still not an investment

but since you asked what to buy here goes................................of course i am assuming you have number 1 to 4 firmly in place before you start buying ANYTHING

1) you only buy coins you like without any regard for investment
2) you have knowledge to see great coins which are priced FAIRLY/ARE GOOD VALUES within the series you are seeking
3) and again most importantly you can tell the great extraspecial coins with extraspecial extraordinary qualities and eye appeal in the series you are seeking
4) you are ONLY buying coins with discretionary funds


when you get 1 to 4 firmly in place open your pm then i will let you know



michael

michael

oh

and a price range

any coins in any holders and/or raw

ngc/pcgs coins are a bonus IF the coin is all there in the holder

michael

DHeath

If you enjoy the hobby, you'd be well served to spend $300 on an ANA grading class. It will pay for itself many times over. The more you learn, the more fun you'll have, and the better your return will be. Sometimes the classes are scheduled to coincide with a show. Attending a show is a nice bonus. A few books you'll find very useful are "The Official ANA Grading Standards" and PCGS's "Official Guide to Coin Grading and Counterfeit Detection". Good luck, and welcome.

nwcs

Welcome!

I'll join the choir. Buying coins should always be for pleasure. If you end up making money out of it, it's a great thing. But if you look to make money out of it, you're better off keeping the money in the bank or in a real investment. The best advice otherwise is to learn and educate yourself. Pick up a red book and an ANA grading guide from the bookstore; they are very cheap. Then read through those books and visit a coin show or store. Don't buy at first till you've had a chance to get familiar with the terminology and selection available. Also going through ebay and seeing what's there is another good way to gain some insight. And reading these forums.