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Collecting ideas for beginning collectors
RYK
Posts: 35,799 ✭✭✭✭✭
In another thread, a forum member said the following (in the context that high premiums for sone coins may be pushing neophytes away):
I no longer see a beginner's market. A place to buy and learn, to make the mistakes everyone makes, and still come out the other side without losing interest or their shirt in the process.
In my opinion, there is no better time to be a beginning collector, in terms of resources for the inexperienced and collecting ideas.
I will offer four relatively affordable collecting themes, from different eras, all of which I have collected, and perhaps some of you can chime in with more:
Silver ASEs--big, beautiful coins, readily available, with lots of options on how to collect (date only, date/MM, bullion vs. burnished vs. proof, OGP vs. album vs. slabbed, etc.)
Franklin halves--large, iconic obsolete 20th century design, again with multiple collecting options depending on taste and budget (circ vs. MS vs proof, album set vs. slabs, blast white vs. toned, etc.)
Barber dimes--classic late 19th century design, most are available in circ, proofs are "relatively" inexpensive for a 19th century coin, album vs. slabbed, great opportunity to get into higher end examples if you learn to like them and budget allows.
Dansco 7070 (or other) type set--a nice smorgasbord of US numismatics, spanning the early 19th century to the early 21st century, with unlimited options to personalize it as no two are nominally the same.
I no longer see a beginner's market. A place to buy and learn, to make the mistakes everyone makes, and still come out the other side without losing interest or their shirt in the process.
In my opinion, there is no better time to be a beginning collector, in terms of resources for the inexperienced and collecting ideas.
I will offer four relatively affordable collecting themes, from different eras, all of which I have collected, and perhaps some of you can chime in with more:
Silver ASEs--big, beautiful coins, readily available, with lots of options on how to collect (date only, date/MM, bullion vs. burnished vs. proof, OGP vs. album vs. slabbed, etc.)
Franklin halves--large, iconic obsolete 20th century design, again with multiple collecting options depending on taste and budget (circ vs. MS vs proof, album set vs. slabs, blast white vs. toned, etc.)
Barber dimes--classic late 19th century design, most are available in circ, proofs are "relatively" inexpensive for a 19th century coin, album vs. slabbed, great opportunity to get into higher end examples if you learn to like them and budget allows.
Dansco 7070 (or other) type set--a nice smorgasbord of US numismatics, spanning the early 19th century to the early 21st century, with unlimited options to personalize it as no two are nominally the same.
0
Comments
Walking Liberty half short set
Civil War tokens
20th-century U.S. medals or so-called dollars
error coins (many are cheap)
WWII-themed coins (including steel cents and war nickels)
late-date large cents in VF-XF
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
SHQs and ATBQs at face value or from the Mint: fun for everyone and low cost.
Daniel Carr pieces: low mintage and relatively low cost with some classic or classically-inspired designs. I would recommend buying these from Daniel's website instead of eBay to start.
AGEs, AGBs and classic gold at near-bullion prices: easy way to get into gold without risking much on numismatic knowledge. A broad set of non-collectors can also appreciate gold.
Type coins: a nice early 20th century or 19th century PCGS graded coin that can be appreciated. A bean would be a plus. However, I would recommend buying a few to appreciate and learning a lot before jumping in to a date/mm series above face value.
Exonumia: Some high-grade MS, slabbed SCDs can be had for reasonable prices (~$50), but I would recommend understanding the pricing structure of SCDs and other thinly traded pieces (like patterns) before jumping in to higher priced ones (over $100).
I would avoid buying too many middling pieces with numismatic premiums until one is no longer a beginner, and perhaps even afterwards.
their favorite relative,
their best friend,
their spouse,
their favorite teacher or professor,
their first boy/girl they beat up in the playground,
their favorite coach
etc.
When I've walked a show floor after having focused on my target XF AU barber half cherries, I'd swore I'll start a low value hobby set. $300 or so to get a clutch of things:
IHC
Buff 5
Mercs
Standing 25
Walkers
Peace $.......
Any combo, run or short set, and there are just too many choices.
There are some good ideas but others some seem completely out of touch with what would constitute a beginner collection and some of them would be like drinking from a fire-hose.
Who jumps right into the deep end of the pool and goes straight to SCDs or CWTs? Yes they are cheaper, but much more advanced. What teenager has the cash for gold bullion? A 7070 is around $10k in melt. Personally, I consider five figures beyond the 'beginner' stage. And what could someone learn about grading nuances by buying ASEs?
What will a lesson in grading cost someone who buys a TPG micro-graded opinion? "Oh you bought a coin when they were grading them less strict so technically it's one point less and poof 50% of your money is gone. Welcome to the hobby." And then on top of that you can now have an opinion of the opinion with the CAC sticker.
The lingo we use. I've been collecting for over 25 years and I have no idea what an ATBQ is.
Perhaps some of the people who are a bit new to the hobby can chime in and say what it is that may make them apprehensive about starting a series and their viewpoints on some of this.
<< <i>I made that point and although a tad out of context here, I'll stand by that comment by just looking at some of what has been stated so far.
There are some good ideas but others some seem completely out of touch with what would constitute a beginner collection and some of them would be like drinking from a fire-hose. >>
Having an open mind is good. Here are some responses that I hope get you to consider other points of view.
<< <i>Who jumps right into the deep end of the pool and goes straight to SCDs or CWTs? Yes they are cheaper, but much more advanced. >>
Guilty. They have cool, uncommon designs. That's what can happen when you have the Internet and eBay.
<< <i>What teenager has the cash for gold bullion? A 7070 is around $10k in melt. Personally, I consider five figures beyond the 'beginner' stage. >>
Beginner collector doesn't necessarily mean age or financial assets to me. Some collectors may be advanced in age and / or profession but still be beginners in numismatics. While not necessarily advised, many middle-aged people get into coins as a way to invest their retirement income. This can be like a middle-aged person buying their first motorcycle and choosing a 1000cc bike, to their detriment.
<< <i>What will a lesson in grading cost someone who buys a TPG micro-graded opinion? >>
The lesson can be to avoid being taken by an unscrupulous dealer on a doctored coin which can happen to even advanced collectors. A TPG graded coin will come with a well-respected opinion as well as a guarantee.
<< <i>The lingo we use. I've been collecting for over 25 years and I have no idea what an ATBQ is. >>
It can be useful to stay up to date with coins like the America The Beautiful Quarter series in circulation now. One of my most fun recent numismatic experiences was receiving a new Mount Hood ATBQ in change the other day.
Perhaps with the optional gold page, it is. As sold without the gold page, every coin can be purchased in reasonable original condition for $300 or less; some can be found in pocket change and others purchased from the Mint. Most coins are under $100. It's hard to top for a beginning collection.
I do agree with your opinion on SCDs and CWTs, which are obscure and illiquid areas that is well under the radar of most newbies.
I do like the idea of the Walker short set (as a classic collection). Frankly, a 20th century half dollar collection would be an excellent beginner collection that could carry the beginner into the next stage of a collecting life.
Collecting ASEs may not be useful for teaching grading from 1-70, but some folks only want to collect NCLT in the 68-70 range. Others might find that it whets their appetite for older coins or other areas. Who knows, but it is hard to get burned in ASEs if you have any common sense.
Here's a some more ideas:
Circulated IHCs
A Morgan dollar from each of the 5 Mints that struck them
Washington quarters
Middle date large cents in F-VF
at the dawn of the internet age and this is going to transform evverything man does including what we
collect and how we collect it. In fifty years everything will be a known quantityand prices will have little
room for negotiation. Now, there are very few things that are known quantities. Even the number of
rare die marriages of colonial coinage can be only estimated. A knowledgeable collector can pickup bar-
gains just about everywhere if he simply knows from experience what's available and what isn't.
The opportunities in coins, tokens, and medals are just endless but this isn't going to be true eternally.
Where rare telephone tokens sell for the same price as common ones today this simply isn't going to be
true as time goes by. New collectors can start virtually anywhere providing they go slowly at first as they
gain knowledge. Value can be found almost everywhere even on the most well worn paths.
The biggest thing for newbies is to not get burned. It's very easy to get burned in this hobby since no
one will tell you what your coin is really worth so by the time you find out you'll never get your money back.
This goes several times over if you're "investing" in coins trying to get rich quick. It's also very easy to pre-
vent this from happening. Collectors need to sell a coin now and then right from the beginning so they
know the real value of coins. They are only worth what a knowledgeable dealer or collector will pay. Any
other value is retail or speculative.
Think about it -- this is the 48th year of clad coinage!
Stewart Huckaby
mailto:stewarth@HA.com
------------------------------------------
Heritage Auctions
Heritage Auctions
2801 W. Airport Freeway
Dallas, Texas 75261
Phone: 1-800-US-COINS, x1355
Heritage Auctions
I agree birthyear. birthyear - 100, -200, -500! pick your nationality and collect that way.
With the appreciation of PM prices typical low end entry becomes prohibitive.
$40 an ASE? and have someone get duped into the millions of AT examples on ebay?
that's enough to burn someone enough to shy away from the hobby forever.
Artificially Toned Barber Quarter.
These are fairly easy to find which should be an important consideration to the beginner.Get tired of the toning? No problem.For very little money,the beginner can explore the wonderful world of coin dipping and make these guys bright and shiny to look like they were made yesterday.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
<< <i><< The lingo we use. I've been collecting for over 25 years and I have no idea what an ATBQ is. >>
Artificially Toned Barber Quarter.
These are fairly easy to find which should be an important consideration to the beginner.Get tired of the toning? No problem.For very little money,the beginner can explore the wonderful world of coin dipping and make these guys bright and shiny to look like they were made yesterday. >>
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
These are a great source of inexpensive coins for beginning collectors and it gets you into the door of your local B&M as a repeat customer. You get to ask questions, fill holes in albums, and entertain yourself while not spending a lot of money. From there you grow as a collector.
As a younger collector I had my "serious" collection and my junk box collection. It was just a fun for me to find that common date Buffalo nickel I needed in a junk box as it was to find one of my "serious" coins I needed.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.For a beginner, a 20th century type set minus the gold would be a reasonable goal.
for series, album sets of circulated Franklins or Roosevelts or Jeffersons are reasonable for a beginner to complete with no "stoppers"
Some of the other series sets or collections mentioned have key dates that are at least intermediate if not advanced to obtain
(unless the particular "beginner" has a much bigger wallet and more guts than most beginners)
Liberty: Parent of Science & Industry
my best idea for a beginner collector is to go to a show and buy some coins lol
i just bought some for $3
doesn't get more welcoming than that eh?
.
SWhuck: <<Collecting from change is still a good way to start, especially now with 50 zillion varieties of quarters in circulation.>>
I mention this notion in my article on modern coins. In other articles, I emphasize that there are many 20th century silver coins, including better dates, that are available for slightly over melt value.
Advice for beginning and intermediate collectors of U.S. coins
Advice relating to Choosing Grades and Certification
Collecting Modern Coins
Natural Toning, Dipping and Coin Doctoring, Part 1
Collecting Silver Dimes by Design Type
An Introduction to Liberty Nickels, part 1, Circulated Coins
Assembling Sets of Silver Coins, part 1, Dimes and Half Dollars
Because there have been alot of new variations on a theme, I'd limit the scope instead of taking on too much. There's alot to be learned in a single series, and it's unavoidable that most new collectors will branch out before too long anyhow. The advantage with a current series is that you can always keep going further and further back in time, to the completion of the full set.
Besides, it's about the journey as much as it is about the destination.
I knew it would happen.
1. Lincoln cents, 1909-1958. Had a lot of fund searching a bag of wheat cents
2. Indian cents
3. Walking Liberty Half Dollars. He found a lot of the dates by pawing through silver buckets at out local coin shop, paid junk silver pricves or a tidge over for most of the coins. He then sold off the junk silver ones and the rest, and actually made a tidy profit on the run up in silver prices. He also spent some effort in making grading sets of these series.
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
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<< <i>Morgan date set kept me busy for awhile............ >>
And Morgan VAMS still keep me busy!
And, have fun!
Eric
<< <i><< The lingo we use. I've been collecting for over 25 years and I have no idea what an ATBQ is. >>
Artificially Toned Barber Quarter.
These are fairly easy to find which should be an important consideration to the beginner.Get tired of the toning? No problem.For very little money,the beginner can explore the wonderful world of coin dipping and make these guys bright and shiny to look like they were made yesterday. >>
ATBQ = America The Beautiful Quarters
That is the follow-on to the State Quarters.
Member, Society of Silver Dollar Collectors.
Looking for PCGS AU58+ 1901-P, 1896-O, & 1894-O
<< <i>Lincolns!Lincolns!Lincolns! Always,start out with good ole' Abe. Nobody,young or old,can go wrong with the least expensive and most famous coin of all time.Abraham Lincoln.No I'm not promoting the movie.
Yes!
For the absolute beginner, these are affordable and can be a lot of fun to collect:
Lincolns 09-present
Jeff nickels 38-present
Roosy dimes 46-present
......I collect old stuff......
"3. Walking Liberty Half Dollars. He found a lot of the dates by pawing through silver buckets at out local coin shop, paid junk silver pricves or a tidge over for most of the coins."
I'd LOVE to find a local coin store still with "melt" buckets of Walkers that I could paw thru to try and fill my remaining holes......... Alas, few stores remain, let alone any that will let an unfamiliar face sift thru such a bucket......Can't even find such at the local coin show...the best they'll do is sell bagged junk silver.
Boy, do I long for the good ol' days when I could go thru coffee cans full of junk silver at my leisure in the Philly smelting district.......
- - Dave
<< <i>SWhuck: <<Collecting from change is still a good way to start, especially now with 50 zillion varieties of quarters in circulation.>>
I mention this notion in my article on modern coins. In other articles, I emphasize that there are many 20th century silver coins, including better dates, that are available for slightly over melt value.
[L=Collecting Modern Coins][/L] >>
I'm quite confident that slamming the holy grail of states quarter collectors is not
the finest way to encourage their progress as collectors. Many of the slams are
inaccurate and misleading.
Collecting the coins from change is fine advice though.
Rarity can be had for a tiny percentage of what older coins command. One needn't limit
himself to US coins since many world moderns are even scarcer than their US counterparts
and sell for even less. Prices are explosive here so you can get priced out of a collection
almost before you begin. It's this that is the greatest weakness of collecting moderns.