I'm a New Inductee - Novice, but Eager to Learn!
Obiwancanoli
Posts: 1,065 ✭✭✭
Hello, everyone!
As my first post to this forum, I'm here to introduce myself as someone relatively new to this hobby, but eager to learn & ambitious to collect. By joining, my hope is to acquire enough knowledge that I can minimize my mistakes, broaden my understanding, share common interests, and UN-common perspectives.
I plan to do much reading of previous subjects here, and occasionally present a question or two which may - or will - test the patience of more seasoned members. For this, I apologize in advance, and promise it will become less so with the passage of time. And, like the coins I'm collecting, I'm sure your guidance will become more valuable the longer I try.
Thanks!
OWC
As my first post to this forum, I'm here to introduce myself as someone relatively new to this hobby, but eager to learn & ambitious to collect. By joining, my hope is to acquire enough knowledge that I can minimize my mistakes, broaden my understanding, share common interests, and UN-common perspectives.
I plan to do much reading of previous subjects here, and occasionally present a question or two which may - or will - test the patience of more seasoned members. For this, I apologize in advance, and promise it will become less so with the passage of time. And, like the coins I'm collecting, I'm sure your guidance will become more valuable the longer I try.
Thanks!
OWC
UBERCOINER
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
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Comments
You wouldn't believe how long it took to get him to sit still for this.
What types of coins are you interested in?
Eric
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
You have outlined a very good plan.
Now execute it!
As for the questions? The only bad question is the one that didn't get asked!
The name is LEE!
Russ, NCNE
there are more than twosides2acoin
``https://ebay.us/m/KxolR5
Good Luck with your endeavors!
-sm
The Maddy Rae Collection
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Don't worry about testing people's patience, it's part of life. Ask away about coins, and don't be
intiminated or deterred by responses you don't like.
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"La Vostra Nonna Ha Faccia Del Fungo"
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
K
Yoda says "welcome" and to watch out for Jabba the butt, oh wait sperbs isn't around anymore
Go BIG or GO HOME. ©Bill
Thanks for your greeting...
Started by responding to a WSJ adv. for LCC, and 50-sate quarters. Decided to order the first 45 via the ad, as my Dad's birthday's coming up, and he likes to collect coins. Nothing organized, really, but I thought he'd like them.
When the order came in, it included an uncirculated 2008 AE... nice. wanted to keep it, but after going online to LCC and checking out a few things, I called them to inquire about obtaining a "proof" instead. Sure, they told me... $45.50.
So I ordered a couple. Then learned they were MS-63 (by this time, I'd learned a little about what this meant), went to the US Mint site, where I found I could order the same or better proof for $31. Then a light bulb went off.
So I started surfing Ebay. Short story is, I've got about 2/3 of the series, a few duplicates ('cause the deal seemed pretty good), mostly PR-70's, but some 69's (PCGS & NGC's only).
For now, I'm focused on the AE's, and want to collect the full set. A couple, as many people here already know, are a bit more difficult to come by, let alone fit into my budget, but it's becoming fun to look.
My Dad's always had a few Morgan's, wheat pennies and Buffalo nickels... and it would seem one can at least collect SOME Morgan's without going broke whilst doing so... I'll probably add to these as I go along...
Thanks!
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
Mark
-Paul
Hi and welcome!!
~
"America suffers today from too much pluribus and not enough unum.".....Arthur Schlesinger Jr.
Welcome aboard brother, how you? You may ask any question you want, we're all experts here.
"Inspiration exists, but it has to find you working" Pablo Picasso
<< <i>Hi, Eric...
Thanks for your greeting...
Started by responding to a WSJ adv. for LCC, and 50-sate quarters. Decided to order the first 45 via the ad, as my Dad's birthday's coming up, and he likes to collect coins. Nothing organized, really, but I thought he'd like them.
When the order came in, it included an uncirculated 2008 AE... nice. wanted to keep it, but after going online to LCC and checking out a few things, I called them to inquire about obtaining a "proof" instead. Sure, they told me... $45.50.
So I ordered a couple. Then learned they were MS-63 (by this time, I'd learned a little about what this meant), went to the US Mint site, where I found I could order the same or better proof for $31. Then a light bulb went off.
So I started surfing Ebay. Short story is, I've got about 2/3 of the series, a few duplicates ('cause the deal seemed pretty good), mostly PR-70's, but some 69's (PCGS & NGC's only).
For now, I'm focused on the AE's, and want to collect the full set. A couple, as many people here already know, are a bit more difficult to come by, let alone fit into my budget, but it's becoming fun to look.
My Dad's always had a few Morgan's, wheat pennies and Buffalo nickels... and it would seem one can at least collect SOME Morgan's without going broke whilst doing so... I'll probably add to these as I go along...
Thanks! >>
Welcome and it sounds like you have a plan. There are those among us who order ASEs directly from the mint rather than buying them slabbed from others. You may decide you don't want to pay a premium for modern slabbed coins.
OK... I have a few questions...
First, while there are a few books on coins, pricing, grading, etc. that are on my list, my very limited experience to this point suggests that "guides" - such as the online PCGS guide I've perused for AE's - seem to be off by a wide margin, compared to prices some people actually pay for these coins. At least, that's my take on it from spending time on Ebay. But it's just a guide, right? Such things are subjective, to a degree, and in my own case, there's no accounting for taste. If I like it, that's a large part of my decision making process, and given the extent of my knowledge & experience, I might pick something up that the next person wouldn't give a second thought to.
The reality is, people will ask - or bid - whatever they think a particular coin may be worth to them, and most times, the actual figure seems inconsistent with the "guide". And yet, I feel I need SOMEthing that might illustrate whether or not I might pay too much for something, or, fortune be with me, if I've found a true bargain.
Secondly, insofar as current [read: new] coinage is concerned, coin dealers must be buying these in bulk from the US Mint, unwrap or unpackage them, apparently sending them to be graded, with the hope they'll come back with the highest possible grade, and thus, bless the profit they hope to make in selling them. However long this process takes - and however much it may cost - would it, and does it make sense for an insignificant guy like me to send MY brand new, shiny "proof", first strike coins off to some far-away critic to have MY coins graded? If grading equates to value - even for a personal collection such as what I want to build - is it practical to do so? Why, instead, don't I simply forego the middleman, so to speak, and buy graded coins from somewhere other than the US Mint?
Case in point:
I'm currently awaiting a few AE "proofs" I've ordered from the US Mint. Having seen what appear to be identical coins on Ebay, for instance, I have to wonder what the real difference is between the $31.95 coin I get from the US Mint, and the PCGS or NGC PR70 DCAM or UCAM I bought for $63? I've been fortunate in that I've also acquired several PR70's & PF70's (now, what's THAT all about?) for about double the US Mint "proof" cost... but what do I know? They all look pretty impressive to me.
Anyone want to take this one on?
Thanks!!
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
If you are looking to collect 70 graded coins and don't plan on selling, I would suggest sticking to PCGS graded coins as they have the most conservative grading standards. After time, you should be able to notice what makes a coin grade higher than another that appears to be identical.
Hoard the keys.
Welcome Obiwancanoli, Fresh Meat is most welcomed!!!!!!!!!!!!!!!
and ask away.
Steve
In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.
I've started off by focusing my interests and efforts in two directions - Silver Eagles, and the Presidential Dollars. I sure wish I knew about this years back, but have initiated my interests by focusing on subscribing to the Eagle Silver $, and the Presidential dollar sets from the US Mint. For the latter, I've subscribed to (and bought a few items already) the Presidential Proof Set (S), the Coin Cover Series (mintage 50,000 P&D), the Silver Eagle, and - I probably made a mistake here - the Presidential PDS set from LCC.
As for my Ebay activity, I've picked up several US Mint Eagles from various years, and wondered if it's worthwhile for me, a completely green and numismatically challenged rookie, to consider having them graded... and if so, how do I judge when, with what volume, and to which service I should consider sending them? Does it make sense for me to do so on my own, or should I seek the help of the one and only local coin shop in town? Does it make sense at all to consider it at such an early stage (for me)?
My interest goes beyond the mere possession of the coins... I'd simply like to collect the best possible coinage I can, and that means - if I'm not mistaken here - PR/PF 70's graded by the most reputable service(s) possible - PCGS or NGC, most probably. I've collected several already graded, many 69's, a few 68's (THAT was an early mistake, but the deal seemed good, even as 8's). Perhaps over time, I can replace these with 70's, but for the moment, they look pretty nice to me as they are.
Your thoughts?
Thanks!!
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
After reading percyb's recent comment, I began focusing more on the US Mint issues, as opposed to graded coins. I've explored the Mint site, even subscribed to a few items, and wish I'd done this years ago. If you're interested in newer coins, that, of course, is the place to get them, rather than places like Ebay. This lesson didn't take long to learn, fortunately.
I stopped by the only coin dealer in my city yesterday. Not a lot of floor space, but then, profitable coins don't take up any more room than the rest of them, do they? In any case, it was suggested that if I didn't have older, or more valuable coins, having newer coins graded was a costly process for the hope of getting back a small percentage of coins graded as 70's, for instance. I was also told that PCGS pretty much doesn't issue a 70 grade any more - hard to believe this, 'cause I see them out there, but they certainly are few and far between.
Almost makes MORE sense to stick, for the moment, to Mint-issued coins, hang onto them for a while, and perhaps, down the road, consider having them graded. But that makes sense only if there's a profit incentive, wouldn't you say? If you're a true collector, grade becomes a secondary issue, does it not?
As an example, I picked up two 20th Anniversary Silver Eagle sets - one graded by NGC, all 69's, and the other ungraded. Leaving aside, for the moment, the fact that the box they were shipped in shouldn't have been opened if grading were important, the price I paid for the two differed by a mere $30.
I glean from this the following conclusions:
NGC, reputable though they may be, seems less credible where grading is concerned, than PCGS.
PCGS, grading at 69, seems to command more credibility - and thus, value & price - than 70's graded by NGC.
Grading doesn't necessarily enhance significantly the value of certain newer coins - in my case, the SAE's - compared to Mint issues.
For all the expense of having a coin graded, it appears to make sense to postpone the act, until such time as rarity and/or low mintage, or uniqueness might suggest substantially enhanced value as a result.
Time to pick up a couple of books, too, methinks... the Red Book, and one other, a Numismatics Grading Standards book, I think... do you have other suggestions that won't get me cross-eyed trying to understand it?
Thanks!
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
<< <i>If you're a true collector, grade becomes a secondary issue, does it not? >>
Brother, IMHO grade never becomes a secondary issue.
"Leave the gun, take the canolis"
Seriously, have fun with your ASE's. Nice set to start out on.
Chicolini: Mint? No, no, I no like a mint. Uh - what other flavor you got?
This place has kept me from blowing more money than I can imagine. Not that I still don't make mistakes, but they sure have been minimized.
Best piece of advice I can give is, I have never been disapointed or made an error with any purchase from the BST here. Every transaction has been very smooth, and I have always received at least what I thought I was getting and frequently more!!!
Have fun and ask lots of questions!!