NEW TO COLLECTING

sly

I'm new to collecting coins and don't really know where to start other than right here. I was hoping I could get a little advice about what types of coins I should start out collecting, how to tell if the coins are good coins or not, where is a good place to purchase coins (ebay?) and if buying coins that are not yet graded is an ok route to take and if it is how do I know if the coins are good coins. I'm really just looking for any and all advice as I have just begun collecting coins for the first time. Thanks

relicsncoins

Start by going to a local dealer if you have one. If he is a good dealer, he/she will be glad to answer the many question you might have. Look over the inventory and see what designs appeal to you. Ask the dealer to show you some problem coins such as cleaned and to point out the characteristics of a cleaned coin vs. a problem free coin. I would stay away from buying raw coins on Ebay until you get a fair amount of experience under your belt. If you buy slabbed coins on Ebay, stick to PCGS, NGC, Anacs and ICG. The rest of the alphabet soup slabbers should be treated as raw.

JJ

Julio

Buy the book and not the coin.
You will learn a lot on this forum.

Welcome. jws

Longacre

What to collect is up to you. Once you decide, please let us know and we can reccomend the best dealer/avenue for finding the coins.

And welcome!

sly

Thanks for the help. I do not think that I have a local dealer to help me out with those questions. I'm from central new york though and if anyone does know of someone close by here I'd love to hear where. I'm kind of interested in Indian Heads and Morgan Dollars, probably leaning more towards indian heads though. Any more help would be appreciated.

Pentimento

Pick up a coin book that contains little vignettes on all the different series of US coins. Something like QDB's The Expert's Guide to Collecting & Investing in Rare Coins would work. An interesting historical fact might pull you towards one series, and you could investigate more specific books from there.

AnkurJ

Read read, and then, read some more. THEN buy a coin. Do NOT buy a coin from GOVMINT or any of those other magazine ad places, they will rip you off. Try to stick with PCGS and NGC until you learn a little more. Browse ebay, and see what catches your fancy. Go to a coin show and look around before you buy. And remember, have fun!

AJ

mhammerman

Welcome to a fun hobby.

1. There are tons of US coins, some very expensive, some just a few cents. Look at some coins first, most have names like seated bust halves or indian $5 or buffalo nickels so to get familiar with the different US coins go to the link below and see what the different types of coins are called. By doing this, you can also get a look at what the coins are by just clicking on the coin name (on the right margin).

2. Get a book from Amazon or similar site, it's called Red Book, A Guide Book of US Coins by Bressett. This book will be your basic reference for a while.

3. Take the time to visit a coin show, they are usually announced on this forum but once you make some contact with a local, you folk can get together and do coins.

4. Keep your wallet in your pocket for a while. Read this one again until you have it.

5. Only buy coins you can put in your hand and look at until you learn the ropes. Don't buy from ebay or the auctions until you have your feet on the ground and it may take a few months so don't get impatient...life is good.

6. Learn the lingo. coin resource

This is a great hobby and there are some really well informed folk in this forum so don't be afraid to ask dumb questions. The people in this forum collectively know most anything there is to be known about US coins.

Coin ON!

sly

Thanks a lot for all the help everyone

STONE

Welcome aboard sly

ModernCrapNut

Welcome to the forum sly



Like has been said, look around and use the search feature here. Search for a subject, or for a coin issue that interests you such as IHC. I had been away from collecting for 50 years and with the postings and coin pics from these guys I was brought up to date in a hurry. Still much to learn, but this forum has saved me a lot of grief and money. Another piece of advice, don't buy from TV shopping sites, they are way over priced. If you see something you like on TV, search ebay for item and you will see the price difference.. Enjoy your new hobby.

curly

Welcome aboard, brother. Be very careful though, this stuff can get addictive.

ozzysdad47

Read........Read......Read............. Everyone has given you good advice so far. I look mainly for key date coin's and error's. Learn good grading skill's, and remember "Buy the coin, NOT, the holder" And never go to the "Darkside", Darksider's are great people, But once there???? It's kind of like a cross between Hotel California and The Twilight Zone, You will find alot of the neatest coinage, Medal's, Exonumia, and it's a nice break from the "Liteside"......... I suppose i just got tired of looking at the same bunch of dead president's.......

MidLifeCrisis

Welcome to the hobby!

As others have said, buy a good book or two (such as the Red Book or The Experts Guide) before you buy any coins. As you read about coins, you will quickly come to realize how much money can be involved in collecting the different series or types of coins that exist. Make a few key decisions early as to what you can afford to spend on your new hobby. Your budget will help decide your collecting area of interest and the grade levels of coins you decide to collect. But keep in mind that coin collecting can be fun regardless of how much money you spend!

Start out by collecting only certified coins from PCGS or NGC. These are the two major third party grading services available to collectors now. Not only do they assign a grade of condition to a coin, but they also verify its authenticity. I think it's very important for a new collector to be confident in the coins he or she is buying, and sticking with PCGS or NGC certified coins can ensure that confidence.

As your collecting interest grows and the amount you are willing to spend for each coin increases, you will have to learn from experience (really the only way) what dealers to do business with. Ideally, you can find a good dealer in your local area and you will be able to develop a relationship and learn a lot from them. You may want to consider going to dealers who are members of the Professional Numismatists Guild (PNG), at least while you're just starting out.

I'm sure that any of our forum members will be happy to help with any additional questions you have.

kwmorgan

While you "learn the ropes", you can grab a Whitman book and work on simple collections like maybe Roosevelt dimes, Washington quarters or Jefferson nickels. Most of these are in a very reasonable price range in circulated grades and will help you learn the hobby as you put the collection together. Save the $$$$ purchases till you gain more experience. If you buy gold coin, only buy them slabbed from PCGS or NGC. Too many counterfeits exist to take chances.

sbeverly

Welcome aboard...

TCoins

Welcome aboard!! The red book is great, but the book that really helped me is Scott Travers, Coin Collectors Survival Guide. I just saw a used copy on ebay for $7.00 BIN. Thats dirt cheap compared to some of the mistakes I have made! My best advice:

1 Learn before you get burned.

2 Collect only what you like and enjoy

ricko

Welcome aboard... the foregoing advice is very good... read it, print it out.. study it.. buy the books... keep visiting this forum. Once you decide what you like, go carefully, ask questions, and have fun. A lot of the fun is learning what you are doing. Not to mention the history. Cheers, RickO