It feels SO good to know I am improving in numismatics.

NeophyteNumismatist · August 7, 2023 6:38AM

I have a good friend that I met through my local coin club. While I am one of the "newbies" in the club, I have built a foundation of knowledge that allows me to keep-up (and sometimes teach) the others in the group. Lately, this friend and I have been going through his extensive collection to both teach me, and allow me to have first look at a few coins that he may be selling. While going through coins, he made the following statement...

"You will know when you are good at this when you can look at a sea of coins and pick one out that is special. You will know the quality and you will know the deal right away." This is rare for me. I know quality, but generally I need to study and lament. I do not feel very comfortable making very fast decisions in numismatics (especially when its outside of half cents - my target series).

Well, yesterday I saw a 1936 S/S (FS-501), but it was not on the holder. The coin was priced the same as a standard 1936-S mint, and I thought it was a good deal. I quickly verified that the coin was, in fact, the FS-501... then, I made an offer that made a good deal GREAT - and the seller accepted. It felt really good to be able to exercise the knowledge I have built and get a nice coin at a nice price.

IkesT · August 7, 2023 7:01AM

Well done!
https://www.youtube.com/watch?v=YKp7g0mxHVc

Pnies20 · August 7, 2023 7:26AM

Sweet! 🍒

Md104 · August 7, 2023 8:28AM

Fantastic!

steve76020 · August 7, 2023 8:49AM

very nice

johnny9434 · August 7, 2023 9:51AM

way cool

OAKSTAR · August 7, 2023 10:27AM

Wonderful!

RichieURich · August 7, 2023 10:57AM

Nice pickup!

Unknown · August 7, 2023 11:05AM

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coinbuf · August 7, 2023 11:24AM

BryceM · August 7, 2023 12:48PM

@NeophyteNumismatist said:
"You will know when you are good at this when you can look at a sea of coins and pick one out that is special.

I love this statement.

The next level is to be able to identify special coins at acceptable prices. This takes a working knowledge of the market, which only comes from constant application and immersion.

When I was knee-deep in my Peace dollar collection, I stopped by Larry Shapiro's table one day at a Long Beach show. I instantly took a liking to a gorgeous 27-S that to me stood out like a sore thumb. I drooled and oogled, but ultimately passed, not due to lack of interest, but lack of $$. I called him back a couple of weeks later and bought the coin...... but to his credit and my detriment, it had acquired a green sticker in the interim. That meant the price was higher. I bought it anyway, at a strong premium to an average MS65.

A couple of years later when it was time to sell, a few coins deserved a chance at regrade and that coin made it into a 65+ holder on the first try, making it a condition census coin. That was a very nice day.

Special coins will always be special coins and they exist at every grade and price level.

spyglassdesign · August 7, 2023 12:52PM

Very nice. I know the feeling... I try not to be too snappy either when making numismatic decisions... I've made a fair bit of mistakes so I'm more careful these days.

While I am getting better at it, there are some series that I am getting closer to that level on... Spotting a deal quicker.

Thanks for sharing your success story and nice pickup!