Noob Questions....
Gator5220
Posts: 1,194
I am just beginning to take up coin collecting, and I have been reading this forum for the past couple of weeks, and am impressed with the knowledge of the folks on this board. I've got a lot of questions, but I'll try and limit them since this is my first post.
To start, the coins that interest me are SAE's and Kennedys. I am thinking of putting together sets of these, and I prefer to have them all graded by either NGC or PCGS only. From everything I've read, they appear to be the most well respected, and my collection would appear to me to have have more value with their "stamp".
I'm not really doing this for investment purposes, but I would like the satisfaction of seeing my purchases grow in value over the years. I plan to keep the coins I purchase for many, many years.
Should I focus on proof coins, or MS-type coins? Also, why do SAE's seem to not get a lot of respect as a coin that could increase in value in the coming years?
Finally, the coin prices listed in the RedBook and PCGS.com, are those for raw coins or certified coins?
To start, the coins that interest me are SAE's and Kennedys. I am thinking of putting together sets of these, and I prefer to have them all graded by either NGC or PCGS only. From everything I've read, they appear to be the most well respected, and my collection would appear to me to have have more value with their "stamp".
I'm not really doing this for investment purposes, but I would like the satisfaction of seeing my purchases grow in value over the years. I plan to keep the coins I purchase for many, many years.
Should I focus on proof coins, or MS-type coins? Also, why do SAE's seem to not get a lot of respect as a coin that could increase in value in the coming years?
Finally, the coin prices listed in the RedBook and PCGS.com, are those for raw coins or certified coins?
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Comments
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Regarding proof versus mint state coins...you should collect whichever appeals to you more. Personally, I prefer MS because proofs aren't real coins
I believe the prices in price guides are generally for "accurately graded coins." Obviously, there can be considerable disagreement as to grading, especially with certain dealers
The prices listed in the PCGS Price Guide are the average dealer asking prices for properly graded United States coins. The prices are compiled from various sources including dealer ads in trade papers, dealer fixed price lists, significant auctions, and activity at major coin shows. Prices for the most actively traded coins are updated daily. Other issues are updated as needed. All prices are reviewed at least once a month.
That is a question YOU have to answer.
You should focus on what you like, easy to say I know. Proof coins may be more prevelant in holders(?), but I'm not sure about that, however then you would need the 1995-W for a complete set.
As far as respect, I'm sure they have a follwing just as any other coin, although some may argue (not saying they are right or wrong) that SAEs are bullion, so they don't fit within the "normal" bounds of a series... not saying I agree but I have heard others echo this sentiment. For instance, you will generally not find many circulated examples of SAEs like you would a circulating coin, thus limiting the higher grade examples potential since by definition they are all high grade examples. Who knows where values will go though.
Re putting together a set graded by either NGC or PCGS: Though I think both companies have encapsulated some nice coins, you might want to specialize insofar as I think that a complete slabbed by either NGC or PCGS would look more uniform and better than a cpmplete set with some coins slabbed by PCGS and others slabbed by NGC. I suspect you'll pay more (perhaps a lot more) for a PCGS slabbed set, but I guess I should let some of the JFK experts (=Russ) answer that question.
By the way, what's your UF connection?
Mark
<< <i>Welcome to the boards.
You should focus on what you like, easy to say I know. Proof coins may be more prevelant in holders(?), but I'm not sure about that, however then you would need the 1995-W for a complete set.
As far as respect, I'm sure they have a follwing just as any other coin, although some may argue (not saying they are right or wrong) that SAEs are bullion, so they don't fit within the "normal" bounds of a series... not saying I agree but I have heard others echo this sentiment. For instance, you will generally not find many circulated examples of SAEs like you would a circulating coin, thus limiting the higher grade examples potential since by definition they are all high grade examples. Who knows where values will go though. >>
The mintage of the proofs are far less than the others, so I am leaning towards the proofs SAE's. Plus, they look really nice IMO.
<< <i>Welcome Gator5220
Re putting together a set graded by either NGC or PCGS: Though I think both companies have encapsulated some nice coins, you might want to specialize insofar as I think that a complete slabbed by either NGC or PCGS would look more uniform and better than a cpmplete set with some coins slabbed by PCGS and others slabbed by NGC. I suspect you'll pay more (perhaps a lot more) for a PCGS slabbed set, but I guess I should let some of the JFK experts (=Russ) answer that question.
By the way, what's your UF connection?
Mark >>
Thanks for the advice. Fortunately, my wife and I have a somewhat successful furniture business, so I guess I am blessed that I can go after exclusively slabbed coins (within reason).
I would rather purchase three slabbed SAE's than 10 raw SAE's, if that says anything.
I really have no UF connection except that I grew up about 2 hours from campus as a child, and have loved and supported the Gators sports program.
Your advice is always welcome.
<< <i>Well, the choice of proof vs. business strike is generally a personal choice. Myself, I think a nice collection of kennedies in 68 or 69 dcam proof would be nice. >>
In general, which types of coins have a history of increasing in value and desire more: Proof coins or business strikes?
Your best bet is to go with the coins you like best but there are differences in the
price potential of proofs and mint state coins. Proofs tend to be made in much small-
er numbers and suffer far lower attrition. There is also relatively little difference in
quality from the worst examples to the finest and this is especially true for those made
after 1982. The proofs have a larger and more stable demand in recent years but the
mint state coins have the potential for explosive growth in demand. Indeed this is more
than mere potential if collector behavior over the last few years is any indication.
The modern proofs are different than the circulating issues since the S mint mark is
made only on proofs for most. Any increase in demand would likely result in gains for
the typical proof coins which would necessarily have some effect on high grade proofs.
Increased demand could propel mint state examples higher but because of the huge
quality range, this increase could be concentrated in the higher grades.
The best bet is to collect those you like and you just may be drawn to the better bets
since it is collectors who define collectibility.
The highest graded in any series will have their relative value set by supply and demand. Also check the population of the coins you are looking for. A SAE in a high MS or proof may be numbered in the hundreds or thousands by those two services; while some Kennedys you will only find a handful in the tougher grades.
Joe
Like others have said, collect what you like. Who knows if they will go up in value, but you can always get enjoyment from collecting what you like.
<< <i>Also, why do SAE's seem to not get a lot of respect as a coin that could increase in value in the coming years? >>
I'm not implying that they don't get respect, but SAEs are different - they aren't circulating coins, they are bullion. Many people see that as a different category (sometimes called NCLT - non-circulating legal tender).
Don't know what your budget is, but be careful if you buy coins that are expensive only because of the grade. The risk is higher.
Enjoy your hobby!
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
I think everyone has given you good advice, especially the "collect what you like" suggestion. I also second cladking's comments about MS versus PR as far as "investments" go...though I collect soley for pleasure.
If you don't mind, go to the profile link at the top right of the page, click on it and then turn on the "private message" capability. I have a (strong) UF connection, which some may know, but I still don't have any particular wish to bleat about it in public. And, it would be cool to locate another Gator on these boards...
Mark
<< <i>Gator5220:
I think everyone has given you good advice, especially the "collect what you like" suggestion. I also second cladking's comments about MS versus PR as far as "investments" go...though I collect soley for pleasure.
If you don't mind, go to the profile link at the top right of the page, click on it and then turn on the "private message" capability. I have a (strong) UF connection, which some may know, but I still don't have any particular wish to bleat about it in public. And, it would be cool to locate another Gator on these boards...
Mark >>
I changed the setting.
And dont listen to Pipe !
Them prices have not been up dated since 1947!
Collect what you like, I do
Herb
<< <i>
Collect what you like, I do
Herb >>
That is awesome! Thanks!