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Suggestions for a Newbie
JLOW13
Posts: 45
Hi,
I have been lurking around the boards for a few months and have decided to get into collecting. I dabbled in it years ago, but never anything serious. I had a couple questions and any help or suggestions is greatly appreciated:
1. What is a good coin to start with?
2. In terms of the new mint items, it seems like it would be fun to buy rolls and bags, dig through them and then submit them for grading. Is this going to turn out to be a huge waste of time and money due to my inexperience? If I were to try this where could I learn about basic grading so I would now how to distinguish prior to submitting? Any info on how to go about the submission process?
3. Of the new mint items, I thought the Presidential dollars may be a good place to start, what do you think?
4. Is there any books or trade magazines that are must for beginners?
Thank you in advance for your replies and suggestions.
I have been lurking around the boards for a few months and have decided to get into collecting. I dabbled in it years ago, but never anything serious. I had a couple questions and any help or suggestions is greatly appreciated:
1. What is a good coin to start with?
2. In terms of the new mint items, it seems like it would be fun to buy rolls and bags, dig through them and then submit them for grading. Is this going to turn out to be a huge waste of time and money due to my inexperience? If I were to try this where could I learn about basic grading so I would now how to distinguish prior to submitting? Any info on how to go about the submission process?
3. Of the new mint items, I thought the Presidential dollars may be a good place to start, what do you think?
4. Is there any books or trade magazines that are must for beginners?
Thank you in advance for your replies and suggestions.
0
Comments
Russ, NCNE
Don't jump right in. Read for awhile and see what floats your boat when people post pics, etc.
Don't get the mint bags/rolls until you know what you like and are doing. Get rolls from the bank. to learn from.
Get a few books on grading.
Presidential dollars suck
Red book. Photograde
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
Don't be afraid to ask opinions or question from the boards
"If you fail to plan---you plan to fail"
Only buy QUALITY COINS
PCGS,NGC,ANACS
Stay away from "Modern Crap"
Better to have one high quality coin than 20 moderns,or low grade crap
Buy a "Dansco 7070 type set album", Start with that, Can fill quite a few holes with a few proof sets
Enter "giveaways", nothing better than FREE stuff
P.M. me your addy. I will give you something-FREE
Wish I started this way
Jim
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
<< <i>1. What is a good coin to start with? >>
Half Dimes
<< <i>4. Is there any books or trade magazines that are must for beginners? >>
The Redbook.
I would strongly reccommend the book "A Guide Book Of United States Type Coins: A Complete History And Price Guide For The Collector And Investor (The Official Red Book)" by Q. David Bowers.
This book is a fun read, and will acquant you with the full range of US coins available -- reading it cover to cover is a much cheaper education than buying overgraded, overpriced coins that you will later regret.
If you read it cover to cover, one of two things will happen. (1) You'll decide to actually work on a type set (20th century, no gold is a popular first choice) or (2) You'll find a series that piques your interest.
I would reccommend against digging through and submitting current issues -- in most cases you'll end up spending more than you could find the same coin, already slabbed. If you want to start with a particular series, why not pick a set that is already obsolete, but fairly doable, like the Peace $'s or Franklin Halves, or Wheat cents. -- Just a thought, but I imagine you'll find more enjoyment collecting coins that others don't have in their pockets...
Good Luck!
Rex
What series do you like the looks of? That is the series you should start with. Have fun. Remember you don't have to complete the set over night, you can start with just a date set then worry about the mintmarks. Some series have short sets. Lately with my son, we are into the humble Kennedy set, but if you like the ugly Franklins that is up to you.
As far as a starting magizine goes, "Coinage" covers the hobby fairly good but there are better books out there for the series you might be interested in. Study prices, and pick a good dealer to work with. Understand your goals, have fun and read up on the series of your choice before laying out too much money.
When you do start buying I recommend starting with items that are relatively cheap that you can use your initial acquisitions as a learning experience that won't cost you too much if you make a mistake. If you are buying sight unseen (meaning you only view photos, like on auction websites) you will need to get good at picking apart photos. Comparing photos with what it looks like in-hand after it's shipped to you for less expensive items helps you get better at picking apart and noticing things in photos.
Learn to recognize valid TPGs (PCGS, NGC, ANACS, ICG) and "third-world" TPGs which are on eBay. "Third-world" TPGs, basically any TPG that you don't recognize, should be treated as raw. Also be weary of more expensive TPG slabbed premodern coins, even ones from top TPGs. There are many nuances to TPG grading and one MS65 isn't the same as every other MS65.
Basically start off reading and doing research. Buy cheap things to get experience that won't cost you too much if you make a mistake. And post here when you have a question.
<< <i>Hi,
I have been lurking around the boards for a few months and have decided to get into collecting. I dabbled in it years ago, but never anything serious. I had a couple questions and any help or suggestions is greatly appreciated:
1. What is a good coin to start with?
2. In terms of the new mint items, it seems like it would be fun to buy rolls and bags, dig through them and then submit them for grading. Is this going to turn out to be a huge waste of time and money due to my inexperience? If I were to try this where could I learn about basic grading so I would now how to distinguish prior to submitting? Any info on how to go about the submission process?
3. Of the new mint items, I thought the Presidential dollars may be a good place to start, what do you think?
4. Is there any books or trade magazines that are must for beginners?
Thank you in advance for your replies and suggestions. >>
1) Collect what you like. If you have no idea, buy a variety of low cost items until something sticks.
2) In my opinion, buying bags and sending coins to be graded will be a waste of time and money. I suggest buying graded coins if that is what you desire instead of sending them in. The exception is the "hot" sets such as the 2006 Anniversary sets or the like. However, it doesn't look like there will be a similar crop of "hot" mint products for 2007.
3) Presidential dollars are fine if you would like to collect them. A proof set or mint set is a good way to start. Buying rolls or bags, isn't something I would do, but if it floats your boat that is fine. Again, the yield from sending them in to grade will probably be a significant drain of money, if it were me, I would prefer to spend this money on coins.
4) The RedBook is a good resource, as is a grading book such as the ANA Grading Guide or the PCGS guide (more geared to mint state coins). Coin World and Numismatic News are ok. Depending on your budget, these might be a good use of money, or might be a waste.
*) If you can make it to a coin show, that is a good place to look at a lot of stuff, though there usually isn't that much modern stuff such as Presidential dollars at shows. A loupe or magnifier is a good thing to have, especially if your interest is in mint state coins
Start slow, have fun. If you really want to get into the hobby, invest the substantial amount of time needed to learn how to grade, and learn what the market prices are for the coins you are most interested in. Talk to folks, look at lots of coins. Books can be useful to some, however most folks learn faster with real coins and real experiences vs. book reading.
Joe
welcome to collecting
<< <i>READ, RESEARCH,READ, RESEARCH
Don't be afraid to ask opinions or question from the boards
"If you fail to plan---you plan to fail"
Only buy QUALITY COINS
PCGS,NGC,ANACS
Stay away from "Modern Crap"
Better to have one high quality coin than 20 moderns,or low grade crap
Buy a "Dansco 7070 type set album", Start with that, Can fill quite a few holes with a few proof sets
Enter "giveaways", nothing better than FREE stuff
P.M. me your addy. I will give you something-FREE
Wish I started this way
Jim >>
"STAY AWAY FROM MODERN CRAP" Are you serious??? Modern crap is the best way to start a collection
It will also be the fastest way to make yourself understand that it pays to be discriminating in what you purchase, rather than just throw a ton of money out the window in the 1st year....something a lot of newbies do.
Oh yeah, buy a Redbook....
Chicolini: Mint? No, no, I no like a mint. Uh - what other flavor you got?
I'm a sucker for barber stuff in F-XF condition... everyone's different.
Have fun!
Remember that as long as the coin holds it's value, you're not really spending any money on it.
they are biased and full of crap.
and remember, in the end....
you will find out that it is really all aboot the
PROFIT ™
hi, i'm tom.
i do not doctor coins like some who post in here.
<< <i>READ, RESEARCH,READ, RESEARCH
Don't be afraid to ask opinions or question from the boards
"If you fail to plan---you plan to fail"
Only buy QUALITY COINS
PCGS,NGC,ANACS
Stay away from "Modern Crap"
Better to have one high quality coin than 20 moderns,or low grade crap
Buy a "Dansco 7070 type set album", Start with that, Can fill quite a few holes with a few proof sets
Enter "giveaways", nothing better than FREE stuff
P.M. me your addy. I will give you something-FREE
Wish I started this way
Jim >>
Sorry stay away from TPG modern crap
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
For newbies, I agree with those who said buy a Redbook. I suggest the spiral edition, it will stand up well to constant use. Then read it, see if any coin designs float your boat. Read up on any such designs here or elsewhere. Read and research first, there's plenty of time to buy stuff later. You'll be better off deciding what you like first, then buying it, than you would be buying a bunch of stuff and selling off what you don't like. Read the threads here on eBay before you even consider buying any coins there. Good luck!
An authorized PCGS dealer, and a contributor to the Red Book.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."