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Novice coin collector just starting out - needs advice on Wheat pennys to buy

onegauchoonegaucho Posts: 650 ✭
in U.S. Coin Forum
I'm considering starting a collection of coins. I thought I'd start with a coin I love - the wheat penny. Can someone point me in the right direction? Here's what I know:

1. Stick with graded samples, ie. PCGS
2. Try to find "red" ones, ie. MS66RD

Is eBay a good place to start?
Should I get a copy of the Red Book?
What are key years for the wheat penny that I should look for first?
What other boards or publications should I look into?

Thanks!

Comments

  • RussRuss Posts: 48,514 ✭✭✭
    So, are you a cardboard guy who's decided to try some real collecting?

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • TorinoCobra71TorinoCobra71 Posts: 8,054 ✭✭✭


    << <i>So, are you a cardboard guy who's decided to try some real collecting?

    Russ, NCNE >>



    image

    "We all gotta start somewhere"

    PM CopperCoin. he will point you in the right direction

    TorinoCobra71

    image
  • drwstr123drwstr123 Posts: 7,045 ✭✭✭✭✭
    PCGS-yes and buy the keys FIRST.
  • RussRuss Posts: 48,514 ✭✭✭
    It should be noted that the keys in MS66RD are HUGE money. Really HUGE money. In fact, a couple of them don't even exist in that grade.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • AU58WALKERSAU58WALKERS Posts: 3,562 ✭


    << <i>PCGS-yes and buy the keys FIRST. >>



    What he said...100%
    "Everyday above ground is a good day"

  • sleepersleeper Posts: 100
    Get a good magnifying class.

    Don't buy coins with spots, green or black specks, coins that dont appear to still be fully red.

    Buy coins that are attractive to you and seem nice for the grade, (this will get easier to judge after you look at a few 1000 coins.)

    Don't let dealers pressure you into buying coins you don't like.

    Read all information you can find before you buy your first coin. Education is the key.

    Andrew
  • JJMJJM Posts: 8,075 ✭✭✭✭✭
    Great link
    👍BST's erickso1,cone10,MICHAELDIXON,TennesseeDave,p8nt,jmdm1194,RWW,robkool,Ahrensdad,Timbuk3,Downtown1974,bigjpst,mustanggt,Yorkshireman,idratherbgardening,SurfinxHI,derryb,masscrew,Walkerguy21D,MJ1927,sniocsu,Coll3tor,doubleeagle07,luciobar1980,PerryHall,SNMAM,mbcoin,liefgold,keyman64,maprince230,TorinoCobra71,RB1026,Weiss,LukeMarshall,Wingsrule,Silveryfire, pointfivezero,IKE1964,AL410, Tdec1000, AnkurJ,guitarwes,Type2,Bp777,jfoot113,JWP,mattniss,dantheman984,jclovescoins,Collectorcoins,Weather11am,Namvet69,kansasman,Bruce7789,ADG,Larrob37,Waverly, justindan
  • MarkMark Posts: 3,564 ✭✭✭✭✭
    Another great link.

    Mark
    Mark


  • millenniummillennium Posts: 3,305
    You might want to start in the MS 64 range and get the keys first.......The things get awfully expensive fast.......image
    My Coin Find Videos
  • mgoodm3mgoodm3 Posts: 17,497 ✭✭✭
    get more for your money buying red/brown instead of red.
    coinimaging.com/my photography articles Check out the new macro lens testing section
  • RGTRGT Posts: 508 ✭✭
    If you want PCGS MS66 Red, start with the 1926-S first. Then get the 1955 Doubled Die. The rest should be easy.
  • drwstr123drwstr123 Posts: 7,045 ✭✭✭✭✭
    Don't forget the 22-plain.
  • pharmerpharmer Posts: 8,355 ✭
    Did you know you can still buy unc ms rolls of wheats for pretty reasonable prices? Try coin shops if any are available to you.
    Quis custodiet ipsos custodes?

    Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."

    image
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>If you want PCGS MS66 Red, start with the 1926-S first. Then get the 1955 Doubled Die. >>



    image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • lkeneficlkenefic Posts: 8,338 ✭✭✭✭✭
    MS66RD is going to be a difficult set to put together...hope you've got deep pockets and alot of time...image
    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
  • WhizzardWhizzard Posts: 955
    Excuse me, but I think you should buy RB not RD. The color is more appealing and you won't have nightmares about what might happen to it while you're asleep. Seriously, look at pics of both, its more attractive, less expensive, and not as labile.

    Have fun!



    image
    What do you think, Mr. Bigglesworth?
    image
  • RWRW Posts: 485 ✭
    My advice would be to only buy the key dates first if you can afford to and have money left to pursue the rest of the set...unless you want a collection of one or two coins. You can pick up a good majority of the coins from the mid-thirties to the end of the set in 66RD for $15-30. Get your feet wet with inexpensive stuff. Also, red-brown is a little misleading. It's a designation given to anything that's not full red. There are some really nice toned coins that are graded RB and depending on the toning will command premiums over true RD.
  • GoldenEyeNumismaticsGoldenEyeNumismatics Posts: 13,187 ✭✭✭
    Although uncirculated red coins are nice, chocolate brown VF and XF example are pretty too. Choose one that fits your pocketbook!
  • lkeneficlkenefic Posts: 8,338 ✭✭✭✭✭
    I was thinking of dates in the teens and twentys. In MS66 the 1913-S, 1914-S and the '24D are going to be really tough...I think the '26-S is a stopper

    L
    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
  • KeyrockKeyrock Posts: 961 ✭
    Red, Red-Brown or Brown really depends on what you like. For old coppers I like Brown, for Lincolns I like red. Although buy the keys first is the line most people say, I like to buy a few non keys first to get a feel for the series. Once you know your a RD, RB, or BN person you may decide 63 and higher or AU58. For a long series like the Lincolns which are very hot, I would buy a handful of commons and pick a grade/color that you like.

    With respect to TPG, PCGS is percieved as the gold standard with NGC and ANACS following. Do a search on the boards regarding crossing from NGC to PCGS and any other TPG you fancy. The tag line is buy the coin not the holder, so don't miss out on a correctly graded coin in another holder. You may even get a better price for it because it is in a different holder.


    Ebay can be a mine field so if you start there I would wait on the keys. Red book is a must for basic information. Depending on how deep you want to go down that rabbit hole (i.e. varieties) you would need to get other reference books. Keys include the 09 S VDB, 17 dd, 22 no D and 55 dd to name a few. If you don't want the varieties you can skip the 17, 22 and 55. Depending on grade and color other coins can start appearing on that list too. Other places to start may be Heritage, David Lawrence, Angel Dee's, and Ira Stein. Looking at those sites can give you insight into price. If you really want to get shocked whatch for the prices in the Bowers auction. Look under session three for the Ann Kate collection. The BST forum may be another venue too. you can post a want list or see what members have.

    Enjoy the series!!!

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