What should a Newbie collect?

Comments

• cladking Posts: 28,735 ✭✭✭✭✭

  September 21, 2003 2:04PM

  It doesn't matter so much what he collects as how he collects. He should be looking
  at coins that bring him satisfaction and a desire to get more and learn more. He should
  be selling a few coins on occasion so he knows where he stands in regards to costs. He
  should be sure that his collection is both doable and that it can bring him satisfaction. But
  mostly he should stop and think once in a while about his goals and how he is progressing.
  If you do these things there is much more likelyhood of having fun and ultimately this is what
  any hobby is for.

  tempus fugit extra philosophiam.

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• Russ Posts: 48,514 ✭✭✭

  September 21, 2003 2:07PM

  A newbie should collect the same thing an oldbie collects. Coins that bring him or her pleasure.
  
  Russ, NCNE

  eBay consignment sales | | Collectibles from Resco CCC

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• numonebuyer Posts: 2,136 ✭

  September 21, 2003 2:22PM

  A newbie with a little money would be better off buying directly from the US Mint. I would recommend silver (in stead of clad or gold). The silver Proof sets are nice and pretty cheap. The silver eagles are also very nice. I prefer the Proof silver eagles. They cost more than the business strike silver eagles but are much more attractive.
  
  After purchasing in these areas a newbie could go out into the world and buy previous years. A newbie needs to get some information as to what previous years actually are worth before buying.
  
  Numonebuyer
  
  P.S. Before buying any coins, buy some books about coins.
  

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• MapMaker Posts: 252

  September 21, 2003 3:13PM

  NEWBIE OR OLD COLLECTOR "BUY THE HOLES" !!!!!!!!
  
  After selling everything, thinking I had "invested" pretty intelligently, I found after taking all misc. selling, grading and shipping costs in to consideration I lost money. I had all those funds tied up for 20+ years with no appreciation or interest! It was an expensive hobby but I did enjoy meeting many people in the Numismatic community.
  If you are a collector/investor as I was forget the investor part and enjoy the hobby unless you are well healed and have big bucks to invest! To anyone who asks me for collecting advice I will have one all inclusive statement; "BUY THE HOLES!" I could have faired much better if I had bought the "Key" dates and forgot the rest, but as most collectors I attempted too many sectors and did not focus on key dates and truly rare coins. If you just "Buy The Holes" you will do well as a collector and Investor.
  Good luck in your numismatic endevors. Sincerely, MapMaker.
  P.S. TIMING HAS A LOT TO DO WITH THE OUTCOME!

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• Conder101 Posts: 10,536 ✭

  September 21, 2003 11:19PM

  Go to a coin how but leav your checkbook and credit cards at home. Look at all the nice coins available and see what suits your fancy. If some really turns you on, then buy some specialized books on the series. READ THEM! Read them again! Get some books on grading and read them too. Get a mentor. Go to another show, you can take some money this time, and look at some of the coins in your series. Practice grading them. Have your mentor look at the coins as well and the two of you discuss the grading and what if any problems they may have. If you seem to be getting the hang of it then buy a few coins. I'm not talking the top end pieces yet. Discuss these coins with other long time collectors that you KNOW are knowledgeable. If they agree tat you seem to be able to grade and you are developing a good eye for the series then if you want you can by some better pieces. Don't jump in and start dropping large quantities of money on coins until you feel confident in your OWN grading abilities. If you don't feel confident then DON"T buy coins on the far side of major price jumps. I don't care what company holder it is in.

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• IrishMike Posts: 7,737 ✭✭✭

  September 21, 2003 11:34PM

  Might I add, coins with liquidity like IHC's, Walkers, winged liberty dimes, Franklins and buffalo nickels in 64. The new collector will most likely go through a change in tastes as they continue to collect and nothing is sadder to me then to see a new collector venture into something, overpay and then can't sell because they are illiquid or they will take a bath.
  
  All these coins have a history to them and no more will be minted. The only goal I would suggest is to buy them with eye appeal, because they will be easier to sell. Not much downside risk in buying these type of coins and they all have followings.

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• dorkkarl Posts: 12,691 ✭✭✭

  September 21, 2003 11:36PM

  a newbie should collect friends in the hobby. do that before you even buy the books (before you buy the coins). you need to see what other collector's collections look like to learn what you like.
  
  K S

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• eagle7 Posts: 1,441

  September 21, 2003 11:45PM

  Knowledge should be first. Go to coin shows. Read books. Talk to other coin collectors at coin clubs. Then when you collect some knowledge, buy some coins.

  In an insane society, a sane person will appear to be insane.
  

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• FC57Coins Posts: 9,140 ✭

  September 21, 2003 11:48PM

  Conder gives very sage advice. Learn about the hobby, the coins, the history, the grading scheme. Maybe start out slow with a few inexpensive pieces that tickle your fancy, study them, understand how they're made, how they wear, their main features, and once you have your feet well entrenched, you will no doubt find the direction your collecting naturally draws you to.
  
  Frank

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