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Hello and other ramblings
BrickAlley
Posts: 31
First I’d like to say hello to what appears to be a decent crowd of people (I’ve been reading threads,) but not unlike every message board of any size there are most assuredly a small number malcontents ready to drop gloves and fight over every minutia. I try to grin and remind myself that there are a million different ways to look at things and that my version might not be the only correct stance. With that out of the way I’ll admit that I’m a newbie, a novice, a clueless dullard, an almost total layman. I have gathered what is starting to look like a library of numismatic books, periodicals and reference manuals. I have read and read and then read some more and one thing is becoming clear …I have a LOT more reading to do. I’ll back up and give anyone who may still be reading a small glimpse into my history with coins.
I’m a kid of the 60’s and used to ride a bicycle paper route 6 days a week, well I handled a little bit of money as a kid and I would pluck out those wheat cents, buffalo nickels and mercury dimes and stick them in my Whitman books. I thought they were fascinating and loved staring at them through my cheap magnifying glass. Nothing excited me as much as finding something that I could “put in my book.” Well I grew older and suddenly girls provided a much bigger thrill than coins, so I moved on.
Back in 2004 I started looking for the Wisconsin quarter that I had heard about (I found out later that I was on the wrong side of the country and my odds of finding one were pretty slim, but it still hasn’t kept me from looking.) Fast-forwarding to present day I was in a major book store chain a few months ago and saw Strike It Rich With Pocket Change (Allen/Potter) I purchased the book and it lead me to The Official Price Guide to Mint Errors (Herbert.) After reading those, curiosity really got the better of me and I started to read everything from the Red/Blue books, to a subscription to Coin World/Coin Values. I went to a coin show about 250 miles away and found out that the buddy that came along was one two cent piece away from completing his set. I have more books than I care to list and The Coin Collectors Survival Manual (Travers) has my head really spinning as of late. I’ll admit to fantasizing about cracking coins, but come on …with the stack of grading manuals I have I’m still ill equipped to have much success (right?).
I took several pieces in all different grades to the Atlanta show and had the best graders in the room tell me what they thought and I was remarkably right on the button with their conclusions. I had one AU-58 1883 with cents that they all graded that way, but I still think is an AU-55 (I spotted a very small rub that I think they all missed.) I was told that I have what appears to be a keen eye on grading the Liberty V Nickels, but then I decided at the outset to learn all that I could about that one coin before I even think about anything else. Well I’m sure this has elicited a few chuckles from some of the very experienced members here and I’m glad that I could amuse you.
I spent the entire show staring at every Liberty V in graded holders I could find the time to see. I arrived at the shows open time and took a very fast bathroom break in the middle, but other than that I was focused on thoroughly looking at every V Nickel I could. I’m thinking that The Cherrypickers’ Guide Vol. 1, 4th Edition will be my next purchase.
Any chance I could get some sage advice besides “You have got to be kidding” and the like. I mean I like coins, but the thought of making a few dollars along the way appeals to me and I refuse to apologize for thinking that way. I have read a few threads where people were talking about not worrying about turning a profit and I'll not pitch a fit if I can't flip something I thought I could (I only buy something if it really appeals to me anyway.) I will assure you that I’m not going to play with any money that I cannot afford to take a small loss on.
Thanks and I’m looking forward to getting to know you guys!
WARNING: This rambling has not been checked for poor grammar, punctuation or speiling!
I’m a kid of the 60’s and used to ride a bicycle paper route 6 days a week, well I handled a little bit of money as a kid and I would pluck out those wheat cents, buffalo nickels and mercury dimes and stick them in my Whitman books. I thought they were fascinating and loved staring at them through my cheap magnifying glass. Nothing excited me as much as finding something that I could “put in my book.” Well I grew older and suddenly girls provided a much bigger thrill than coins, so I moved on.
Back in 2004 I started looking for the Wisconsin quarter that I had heard about (I found out later that I was on the wrong side of the country and my odds of finding one were pretty slim, but it still hasn’t kept me from looking.) Fast-forwarding to present day I was in a major book store chain a few months ago and saw Strike It Rich With Pocket Change (Allen/Potter) I purchased the book and it lead me to The Official Price Guide to Mint Errors (Herbert.) After reading those, curiosity really got the better of me and I started to read everything from the Red/Blue books, to a subscription to Coin World/Coin Values. I went to a coin show about 250 miles away and found out that the buddy that came along was one two cent piece away from completing his set. I have more books than I care to list and The Coin Collectors Survival Manual (Travers) has my head really spinning as of late. I’ll admit to fantasizing about cracking coins, but come on …with the stack of grading manuals I have I’m still ill equipped to have much success (right?).
I took several pieces in all different grades to the Atlanta show and had the best graders in the room tell me what they thought and I was remarkably right on the button with their conclusions. I had one AU-58 1883 with cents that they all graded that way, but I still think is an AU-55 (I spotted a very small rub that I think they all missed.) I was told that I have what appears to be a keen eye on grading the Liberty V Nickels, but then I decided at the outset to learn all that I could about that one coin before I even think about anything else. Well I’m sure this has elicited a few chuckles from some of the very experienced members here and I’m glad that I could amuse you.
I spent the entire show staring at every Liberty V in graded holders I could find the time to see. I arrived at the shows open time and took a very fast bathroom break in the middle, but other than that I was focused on thoroughly looking at every V Nickel I could. I’m thinking that The Cherrypickers’ Guide Vol. 1, 4th Edition will be my next purchase.Any chance I could get some sage advice besides “You have got to be kidding” and the like. I mean I like coins, but the thought of making a few dollars along the way appeals to me and I refuse to apologize for thinking that way. I have read a few threads where people were talking about not worrying about turning a profit and I'll not pitch a fit if I can't flip something I thought I could (I only buy something if it really appeals to me anyway.) I will assure you that I’m not going to play with any money that I cannot afford to take a small loss on.
Thanks and I’m looking forward to getting to know you guys!
WARNING: This rambling has not been checked for poor grammar, punctuation or speiling!
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Comments
Shawn
That's a nice, humble introduction, and I am sure you will be welcome here.
If you turn on your private message icon, you can recieve PMs as well as the public messages your read here.
Just find Gecko, he of the panda has mucho knowledge on how to properly make mula in the coin world.
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)
................
There is a lot of value in becoming an expert in one series. For example, if you have an eye for spotting Unc 64s and 65s that will upgrade a point at the major TPGs, you could do quite well financially. Remember that for a 65 to go 66 it would have to be "all there" because of the significant price differential. But other than upgrading those I don't know if there is a lot of upside in that series. It doesn't have a huge following IMHO. The PCGS price guide shows no price increases this year on any non-proof example in any grade except for increases on the 1885 and 1886 in high-grade Unc.
In no way am I suggesting that being a specialist in Liberty nickels is a bad idea. But it may not be the best option for someone looking to make a few bucks.
I'm always glad to see someone do some research before spending a lot on coins. Good for you.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
-donn-
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.
In general, my advice is to keep doing what you're doing. Keep reading and learning. Stay focused in a more narrow collecting specialty...that said, and as kranky already noted, I don't think Liberty V Nickels should be your focus if you're looking to flip for profit. Even if that's not your primary motive, you may not always be able to make money on those even as trades as you upgrade your collection. But if you really like V Nickels, then stick with what you like.
I do have mixed feelings about staying focused on only one series or type of coin though. Some have done this very successfully and have made a name for themselves as experts for their coin of choice.
However, I think it helps to broaden your collecting just a bit so that you can compare one series or type to another, learn the nuances in striking and other characteristics, and not get burned out or bored with collecting. For example, you could specialize in all types of nickels; or in all coins produced in a specific time period (this could be a year or two, a decade, or whatever); or in all coins designed by Charles Barber; or anything else you can think of. There are lots of cool coins with lots of interesting stories so don't limit yourself quite so much.
Welcome to the boards.
Mike
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.
What's your poison? Copper, gold, classic. modern etc......... as Ricko said. It's just a hobby
You seem to be as ignorant as I.
There's nothing wrong with trying to make some money in coins and
with buying some for profit. The ones who do best are usually collectors
first and investors second (or third). Whatever provides fun in the hob-
by is great and if you have fun making money then more power to you.
As you've already guessed there are two good ways to make a profit;
buy coins that are underpriced or undervalued. Underpriced are those
which are already worth more than the asking price and undervalued are
those which have an absurdly low current value.
Liberty nickels might fit the bill in both these regards. They haven't been
extremely popular since the '60's and have never been very "hot". There
aren't a lot of highly desirable varieties in the series but there are plenty
of varieties. It's a nice mixture of scarcity with many common issues so the
potential could be good. Going forward there is likely to be less negativity
to base metal coins because the new generation will never have used sil-
ver coins in change.
One always needs to use his own judgement and I'm sure there are many
areas all through the coin market with potential. You can pick a specialty
or collect in many areas. You can start small and expand.
Just remember that if you are having fun you're doing it right. You seem to
already have a good handle on this but I'll say it anyway for some other
newbie who may be reading thi thread; be sure to sell a coin once in a while.
It's only when you sell that you learn what a coin is really worth. In this hob-
by it is very easy to buy coins cheap but it's usually difficult to sell them high.
Good luck.
a lot of expertise on most types. Civil war tokens and hard times
tokens are a couple of the exceptions.
<< <i>
-Randy Newman
You wouldn't believe how long it took to get him to sit still for this.
But you will find a great bunch of people here
the_northern_trading_company
ace@airadv.net