Getting serious about coins

Bond007

Since this is my first post, I'll introduce myself. My name is Jamie and I'm 36 (I'll be 37 in October). I first got interested in coin collecting when I was a kid and my step-dad passed down to me the coins he, his father and grandfather had collected over the years. As I was already more interested in stamp collecting at the time, I accepted the coins and only casually added to what had already been collected. Since the start of the Statehood Quarters collection, I've been bitten by the numismatic bug, so to speak. I've since begun collecting stamp and coin collections through the Postal Commerative Society.

Through PCS, I'll soon have a complete collection of Franklins, one from each issue year as well every mint mark. I'm also working on acquiring Morgans. Both these collections also include philatelic milestones. What I'm wondering now is how to best grow my collection. Since all these coins are in "collections" prepared by PCS, I'm considering collecting them all individually as well. I'll probably start by working on the Morgans.

Also, how do I go about acquiring these coins? I've been watching eBay on a few items, but I'm just a little concerned about getting "rooked" by some of those people.

Any advice would be quite helpful.

Thanks!

Jamie

P.S. My Statehood Quarters are all sealed uncirculated directly from the US Mint. I'm also collecting gold highlighted Statehood quarters from PCS that are coated in a clear plastisol.

Coinerww

Let me be first to you.

ddbird

Ebay is good for professionally graded coins...ie..PCGS, NGC, ANACS. The best way to buy raw, would prob. either be in person, or on the BST forum here. Most the people are honest graders and can get you some nice coins, until you learn to grade on your own. I would study up on morgans, and learn how to grade before attempting to buy from dealers. Unless you have one you trust. But, the BST is a great place to add to your collections!

Good luck! I like morgans too!

Coinerww

Do you mean PCS or PCGS?

coynclecter

I certainly hope this is not the same PCS that puts XF coins in MS65 holders.
Welcome to the board, you'll learn a lot here about coins and a lot about people too. Like school though, try to avoid the troublmakers.

mgoodm3

Welcome.

Bond007

By PCS I mean the Postal Commemorative Society. I'm not aware that PCS does any coin grading. The coins I'm receiving from them are not in coin holders and have not been graded in any way. They are arriving in a "caché", which is basically an envelope or a piece of hard stock paper with the coin mounted in a clear plastic airtight holder and the related stamp affixed in the upper right hand corner postmarked with the First Date of Issue and the Issuing City.


Thanks for the "Welcomes" gang!!

jhar

Howdy

ANACONDA

Welcome to the boards! I think you'll find coin collecting to be very rewarding...they say it's the hobby of kings!

With regard to

"how to best grow my collection", I would start reading about any series that interest you and try to determine the series that best suits you in terms of appeal and cost.

Morgans are a great place to start. Very widely collected. The series is very long and some of the issues are very expensive, so if you are hoping to put together a complete run of something, Morgans might be a life long pursuit, especially if you have an eye for the best and limited funds. Consider that a run of Morgans might bore some - only the dates and mint marks will differ, not the designs of each coin.

You might want to look at early commemoratives. Each one has a story to tell.

You also might want to consider a set of 20th century type coins.

Stick with coins graded by PCGS and NGC. If you're going to be buying coins that cost more than $50 each, I would not recommend buying coins that have not been graded by PCGS or NGC.

Read and seek advice. Many people here will be glad to give you their suggestions.

tporreca

Welcome. I suggest you buy a book on Morgans and one on grading. I am not familiar with PCS, but my gut tells me you will pay too much and get lesser quality than thru a regular dealer of coins.

AuldFartte

Enjoy !!!

LeeG

I'm new also to coin collecting and this board. Everyones been "Great" and a whole host of great info on any and all coins can be found here, Welcome!

paigowjohnny

If you're interested in Morgans...a great first reference book to get is the Red Book of Morgan Dollars by Q. David Bowers.

BowTieCoins

Katrina

DorkGirl

First of all I urge you to buy some books. ANA Grading Standards is a good start. There are many others.

Is PCS the company that sells the Morgans in the Holders with all the information about what was happening at the time? If so, I agree that you are probably paying too much for what you are getting, but I don't really know for sure. I've seen them on Ebay, but never bought one.

There are a lot of good sources for Morgans, this being one of them. Ebay is good too, but you need to know how to grade for yourself first.(See paragraph 1)

cladking

Welcome aboard.

The bad news is that it may be extremely difficult to get your money back on the older (pre'95) PCS
items. The newer ones may not be quite so bad since the "mintages" are down dramatically, I believe,
and some of these are fairly popular.

Post mint alteration of coins like the plated ones are difficult to verify as coming from any specific source
and have not performed well in the past for this reason. Many collectors consider all such alterations to
be harmful to the coin's collectibility, but there are some attractive ones and old coins of this nature are
sought in some instances. This goes especially for countermarked coins and hobo nickels but also apply
to many advertising stamped and engraved coins.

Enjoy your stay here.

anablep

Welcome!

Morgans can be interesting and challenging. How "successful" you are depends on what you want to collect. Mint state, circs, CC's, a date set, or the whole darned thing. Good luck and listen to what the people here have to say. They know what they're talking about (usually, )

Bond007

Man! Thanks for all the advice and encouragement so far. My head's starting to swim. Apparently, I've got quite a bit of reading to do first. Utimately, I'd like to have collected "the whole darned thing" as anablep stated. That could prove to be quite challenging, but I'm always up for a challenge!

Catch22

STOP!

First, welcome to the boards. Second, don't spend money on anthing that you don't understand...unless you are financially well off and wouldn't mind getting screwed. There are thousands of people out there just waiting to sell you a 50 dollar coin for 500 dollars. You wouldn't buy a stock just because the company logo looks cool and you shouldn't buy a coin just because someone else says it's a bargain.

It's hard not to jump in and start buying all these cool old coins, but there are a lot more used car salesmen out there than there are real salesmen. Why not buy some books and do a little reading and educate yourself before spending hard earned money on something that could completely sour you on this fine hobby?

Ebay has a catagory under US Coins titled "Publications." I would look through the offerings and buy a few books before spending another dime on coins.

Good luck swimming amongst the sharks.

ibzman350

What they said...









Herb

wam98

Myqqy

Good luck swimming amongst the sharks.

This statement has a lot of truth in it, and is one of the things I find fascinating about numismatics. It's easy to get taken (a little or a lot)- after you've collected for a while, you'll be able to look back at all of your early purchases and be able to see where you could have done better... With coins, the more you know, the more enjoyable it is.... and welcome!

Murphy

Yeah, good advice here by some very good collectors. Keep reading what is written here and you will learn a lot.

lava

<< <i>If you're interested in Morgans...a great first reference book to get is the Red Book of Morgan Dollars by Q. David Bowers. >>



I beg to differ. I think this book sucks. I think it sucks little time, I think it sucks big time, I think it sucks on weekdays, I think it sucks on weekends, I think it sucks on Earth, on think it would likely suck on all other planets, whether discovered yet or not, I think ......... well, let's just say I think it pretty much sucks.

Instead, track down the Morgan and Peace Dollar Textbook by Wayne Miller. I'd also pick up the PCGS population report.

kranky

Welcome to the boards, Bond007! Good to have you.

You should turn on Private Messages - go up to the "profile" item in the upper right corner.

EVillageProwler

Bond007,

Welcome. I join the chorus that encourages caution. Coin collecting is a marathon, not a sprint. It's most likely that every single person here has had to pay a high tuition to Coin U. and would like to help you minimize your tuition fee a bit. (I.e., we like to help you avoid some of the traps and pitfalls and to learn from our collective experience.)

Opinions on matters will vary, but I encourage you to ask many -- MANY -- questions. Ask honestly and sincerely, be prepared to listen to feedback and use your best judgement. Hopefully you'll be rewarded with a fantastic lifetime experience!

Regards,

EVP