Best place to start collecting? Looking for some advice.

Tvac897

Hey guys (and gals), I just recently started collecting and I was wondering if anyone had any tips regarding where to start? I was thinking ebay, but i've heard good things about random flea markets/garage sales. Anyone have any nuggets of wisdom?

edix2001

Join a coin club and attend a coin show.

coinman420

read everything here, go slow and be very careful buying raw on ebay.

TwoSides2aCoin

Whew... tough question.
A starting place is here. Find the specialists in the series you want to collect. Obtain knowledge through literary writing. For instance : Rick Snow for Indian Cents.

Fred Weinberg is a great help for errors, but so is errormaven, coppercoins, and many people on the boards. Ask specific questions and you are certain to get specific answers.

Surround yourself with knowledge before parting with your money.

ricko

Buy books, ask questions here... attend shows, learn before you spend. Caution is great insurance. Get into the hobby for the pleasure, not the investment. (All hobbies are investments, in one way or another - most do not pay great returns.) Cheers, RickO

Tvac897

Thanks Rick, i've seen your posts ALL over this forum and they are super valuable. This forum is actually what got me interested in collecting, i was putting around on here for a research paper and fell in love with the community.

morgansforever

At a minimum purchase the 09 Whitman Redbook, a must have.

Don't buy coins raw, buy slabbed coins, PCGS, NGC, ICG, ANACS.

It's ultimatly up to you, on where to start.

The SHQ program sucked me in, then I branched out to WLH's, Morgan's, Merc's, ASE's, modern commem's, cull bullion.

Good luck, stay vigilant, stay informed, learn how to grade.

sparky64

All of the above is solid advice.
I don't want to see you starting out on ebay.
I'd find a dealer and start building a relationship.
Along with the Red Book get the A.N.A. Grading book or whatever is ncessary to learn basic grading.
For purchases I'd recommend starting with some Mint Sets. Get a few pre 1964 and post 1964 to see how coins should look.
See what interests you.
-Mark

GritsMan

Start with Jefferson nickels or Kennedy halves from rolls. It's free and you'll find a lot of interesting dates while learning how to grade. I've had a blast trying to build a Jeff set from circulation the past couple of years. I'm missing only 13 coins, which astounds me. It's a good education while preparing to lay out serious money to begin a more lofty set.

pursuitofliberty

read, read, read ... and ask as many questions as you can (as indicated already) ... and welcome to the disease

something I would consider, depending on your budget, would be to buy "junk" silver rolls and pick through them. I think with the Walking Liberty's, some patience from local shops and such, flea's, atiques and thrifts ... and the BST of course ... and a fairly nice late date set (34-47) could be nearly completed in VF-EF for not much over spot. Plus there are a few potential cherries in there.

The same could probably be done with Merc's from 34 on, although it might be a little more in realtion to spot silver.

Stella

I suggest visiting a major national coin show in your area. This will give you the opportunity to meet and talk to many other collectors and experts about your collecting interests. You can meet people with good advice and probably make some friends as well.

This is also a way to practice your grading skills since you can personally examine multiple slabbed and raw examples of coins which interest you. When you feel confident enough with your knowledge, then you can choose some of your favorites for your collection. Overall, the process will take both learning and patience.

Shamika

Ebay is great, but you better know what you're doing. Many people have been outright robbed on eBay.

SkyMan

The BEST place to start collecting is in your own pocket. More specifically your pocket change. Everything in there is "face value". Get the "Official ANA Grading Standards for US Coins" book and maybe (CoinWorld's/CoinValues) "Making the Grade" book. Try and put together from pocket change sets of coins that interest you (get some Whitman folders) and learn about how to tell a coins grade. Your outlay will be minimal, yet it will give you a feeling of accomplishment every time you put a coin in a "hole". Once you think you know the basics then start branching out into other series that interest you that are common, yet you won't find in pocket change (like silver Roosevelts from 1946 to 1964, or circulated Walking Liberty halves from the 1940's) or learn about cherry picking the modern series for the more esoteric pieces.

Most importantly, HAVE FUN!!!

MikeInFL

<< <i>Hey guys (and gals), I just recently started collecting and I was wondering if anyone had any tips regarding where to start? I was thinking ebay, but i've heard good things about random flea markets/garage sales. Anyone have any nuggets of wisdom? >>



Start cheap, and prepare to get taken.

evsite

Is there a particular series you have developed an interest in? Have you considered starting with a type set to become more familiar with the various series that are available?

I started buying on ebay and other online auctions. I stuck with higher grade slabbed coins ONLY. I have made a few mistakes but I have had many more successes.
Like others have indicated read, read, read and learn how to grade. I found some of the books by Scott Travers very informative. You will have to look at a lot of coins in order to develop an "eye" for quality. Don't be in a hurry.

You will make a few mistakes along the way, don't get discouraged when you do its just part of the learning process.

RedTiger

If there is a coin club, that is a good place to start. Coin shows can be decent as well. Local shops are hit and miss, some good, some terrible. Ebay can be okay as long as you start small and buy what you know. Same with flea markets and garage sales. If you don't know anything, that means not much is safe. Even certified coins are no longer safe because counterfeit slabs are starting to multiply.

As always, collect what you like, not what some one else likes. Learn how to grade if collecting coins where the grade makes a difference in the price (almost all U. S. coins). Learn the typical prices for the coins you become interested in, both the typical retail price, and the wholesale. Develop contacts with dealers and other collectors so as to get better access to coins, better prices when buying and selling.

A patient and knowledgeable mentor can be the best possible world. However, the caveat is that a newbie can't tell a good mentor from a bad one, and a bad one can ruin everything. Bad information can be worse than no information.

Enjoy the hobby.

LindeDad

I would start with a few of the circulations coins sets first. Try to put together a set of Westward journey nickels, or state quarters. These are both easy to find in rolls from your bank and the dupes can either be spent or traded back in for other rolls if you are very nice to the people at your bank. If your budget can afford it then certified only coins on eBay. And as mentioned get a copy of the Red Book as a minimium.
BTW one of the first things you will need to do is learn to limit your scoop. There are more coins than most of us can afford. So figure out what coin you like best them go for it. Learn to grade and learn to search.

edsondl

Don't wait too long to try and sell your first coin.

It is a real eye-opener and may help you define what you hope to get out of the hobby.