OK, forget about the tutor for now. School's out for the summer anyway.
You might want to start assembling a type set, starting perhaps with a 20th century set. You can buy MS64 or 65 Mercs (try to buy a FB coin), Walkers, Buffalo Nickels, Indian Cents (RB), Franklins (try to buy a FBL coin) which are all pretty cool to have in mint state. You need to think about your budget over time and determine the maximum amount you can spend per coin, since that will determine the grade you can purchase for each type.
Its hard to be patient and there will be a real temptation to buy several lower grade, less expensive coins to fill up the set quickly rather than one or two more expensive ones. Resist that temptation and buy the highest grade you can afford and take more time to build your set. Avoid lack luster, spotted, and darkly toned coins.
You can also buy a number of common date Morgan dollars in MS65 for less than $200, and if you have a good eye and the discipline to look at a lot of coins, you can find some really nice MS64's for less money that are real close to MS65. Even a number of better date coins can be purchased in MS63 for less than $200 per coin and if you cherry pick you can find some nice ones.
In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
And remember the most important thing. Have fun collecting.
Tell us what you like......then you can have 100 posts about what to buy........how bout a good coin book....and I will 2nd the quality......better off with 1 good coin for $200 then 10 coins for $20
<< <i>OK, forget about the tutor for now. School's out for the summer anyway.
You might want to start assembling a type set, starting perhaps with a 20th century set. You can buy MS64 or 65 Mercs (try to buy a FB coin), Walkers, Buffalo Nickels, Indian Cents (RB), Franklins (try to buy a FBL coin) which are all pretty cool to have in mint state. You need to think about your budget over time and determine the maximum amount you can spend per coin, since that will determine the grade you can purchase for each type.
Its hard to be patient and there will be a real temptation to buy several lower grade, less expensive coins to fill up the set quickly rather than one or two more expensive ones. Resist that temptation and buy the highest grade you can afford and take more time to build your set. Avoid lack luster, spotted, and darkly toned coins.
You can also buy a number of common date Morgan dollars in MS65 for less than $200, and if you have a good eye and the discipline to look at a lot of coins, you can find some really nice MS64's for less money that are real close to MS65. Even a number of better date coins can be purchased in MS63 for less than $200 per coin and if you cherry pick you can find some nice ones.
In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
And remember the most important thing. Have fun collecting.
CG >>
Thank you for your words of wisdom, I dont know about the type set. I really like Morgan dollars though, I just fear that I wont be able to ever complete the set, some are really expensive. Is there anything else out there that I can get my hands on, which I will eventually be able to obtain a complete set of, in a nice grade, that has history to it, nothing modern.
Scott Hopkins -YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
Hey, im 16, and when ever i get a couple hundred i get a nice graded morgan. Dont worry about completing the set till your older. I actually have a lot of duplicates cuase each one is different. I would suggest a nice common date 65. Maybe with some nice color. Or you can try for a carson city in a GSA box, they are pretty nice!
Hey, im 16, and when ever i get a couple hundred i get a nice graded morgan. Dont worry about completing the set till your older. I actually have a lot of duplicates cuase each one is different. I would suggest a nice common date 65. Maybe with some nice color. Or you can try for a carson city in a GSA box, they are pretty nice! >>
Heres what I got for Morgans:
1901-O MS 62 anacs 1904-O MS 63 anacs 1886 MS 61 anacs 1882-S MS 64 Tru Grade Service 1885 MS 63 DMPL ICG 1884-CC MS 63 NGC 1880-S MS 64 NGC 1883 MS 65 NGC 1898 MS 64 NGC 1884-O MS 64 NGC
Scott Hopkins -YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
As I've said before, I strongly disagree. Carefully spending money on raw coins is the best education. The education can easily yield dividends far beyond any possible profit that could be had on a couple hundred bucks worth of slabs. Just be sure that when you make a decision to buy something it is your decision and not just a dealer's recommendation.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
As I've said before, I strongly disagree. Carefully spending money on raw coins is the best education. The education can easily yield dividends far beyond any possible profit that could be had on a couple hundred bucks worth of slabs. Just be sure that when you make a decision to buy something it is your decision and not just a dealer's recommendation. >>
Im too afraid to buy unslabed fearing that the condition will drop, because not being in the right holder.
Scott Hopkins -YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
Im too afraid to buy unslabed fearing that the condition will drop, because not being in the right holder.
That type of thinking will guaranty mediocrity. Sooner or later, you're going to need to drop the training wheels.
In the meantime, how about trying to sell your three least favorite silver dollars at the show. The feedback you'll get from dealers can also be a great education.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Try Barber Halves. No really rare dates. Lots of history. Steady prices (although they probably won't skyrocket anytime soon.) You can do well if you find earlier dates in Good w/full rims on the reverse. It's a fun and often overlooked series.
WEll were up to More morgans, walkers, barbers...Ill add Franklins Thats a pretty easy set to complete in high grade if you want to set a goal for yourself.
<< <i>WEll were up to More morgans, walkers, barbers...Ill add Franklins Thats a pretty easy set to complete in high grade if you want to set a goal for yourself. >>
I want something to start with to have a set of, so I feel confident then something that I can shoot for thats a nice challege.
Scott Hopkins -YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
<< <i>In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
As I've said before, I strongly disagree. Carefully spending money on raw coins is the best education. The education can easily yield dividends far beyond any possible profit that could be had on a couple hundred bucks worth of slabs. Just be sure that when you make a decision to buy something it is your decision and not just a dealer's recommendation. >>
Im too afraid to buy unslabed fearing that the condition will drop, because not being in the right holder. >>
I have learned much more about the coin market by reading books and posts on forums such as this than through buying slabbed coins.
If I had taken the advice not to buy raw coins, I would be without my favorite collections: high grade Barber Dimes (2 complete sets), Barber Halves (1 complete set) and U.S. 19th & 20th century Type set (missing only 5 gold coins).
Yes, I have ocassionally learned the hard way by buying raw coins. I have also learned the hard way by buying common-date NGC or PCGS-slabbed Morgans and Franklins at the peak of their popularity. Some coins at the low end of the grade on the insert might end up in your casket if you wait until you can sell them for a profit.
Once I purchased a slabbed Barber Dime from the almost universally reviled grading service Accugrade, which turned out to be undergraded by at least two points. (Although I probably saw 800 to 1,000 eBay auctions for overgraded Accugrade coins before I snagged this one). I have also enjoyed coins slabbed by PCI or ANACS as having "problems".
If you are afraid that the name of the slabbing company will diminish your coin's value but are confident in its grade, don't hesitate to crack it out and keep it as a raw coin in your collection. Needle-nose pliers and a good library of coin books can be your friends while you decide how to spend your coin budget. The above advice to act on your opinion vs. a dealer's recommendation is sound advice, though.
"Never attribute to malice what can be adequately explained by stupidity" - Hanlon's Razor
Washington quarters pre-statehood silver and clad is also a great series to complement the walkers.
But you need to do a few of the series starting with 2004 dated coins and work backwards, all from circulation. As you work backwards on all of the different denominations, you will learn to discern for yourself what series you like best. Do them all, then start to specialize.
The great thing about starting this way is you are doing it with coins that you spend face value for. It will stretch your dollars furthest. Make many trips to the local banks to buy rolls and even bags of coins and have a heck of a grand time putting a set of 1965 to present coins and further back for lincolns and jeffersons. You will develop your grading eye quicker as well!
On a budget such as yours you can go back to nearly 1934 and complete just about all of the series over time. I do suggest that any coin that costs you more than $50 you should buy slabbed, if possible. This will reduce your mistakes but not eliminate them. Under $50 do not be afraid to buy them raw and use your discretion.
Then, you can gradually push back the start date to 1932 for all series, then 1931, etc. You will have a blast doing thing this way. The years of 1921 to 1933 are among the most exciting of all in coins, especially lincoln cents.
If you continue to have a Morgan silver dollar "fix" keep buying them but limit yourself to only one every three months as you gravitate towards the more expensive.
I really like the idea of starting a nice set of modern coins, I was thinking either nickels, dimes, or havles. That probably would give me more experience. Thanks Oreville. Anyone or anything else?
Scott Hopkins -YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
I love how some people here preach as to not buy raw coins, only buy slabbed. And yet, when they buy their slabbed coins, or submit their raw coins to be slabbed, they crack them out for their albums, making the coins raw yet again.
It amuses me in some macabre way.
Any coin I get that is slabbed, will remain that way.
I love how some people here preach as to not buy raw coins, only buy slabbed. And yet, when they buy their slabbed coins, or submit their raw coins to be slabbed, they crack them out for their albums, making the coins raw yet again.
There's nothing wrong with knowing your limitations and relying on a third party to grade for you. Just don't assume that others will forever be subject to those same limitations. Especially 16 year old kids that have all the time in the world to learn how to grade.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Comments
<< <i>Buy quality rather than quantity. After that, whatever turns your crank. >>
42/92
<< <i>What should I buy, I got close to $200.00 >>
It would appear, young man, that your money would best be spent on an English tutor.
CG
<< <i>
<< <i>What should I buy, I got close to $200.00 >>
It would appear, young man, that your money would best be spent on an English tutor.
CG >>
Sorry, I was in a hurry.
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
You might want to start assembling a type set, starting perhaps with a 20th century set. You can buy MS64 or 65 Mercs (try to buy a FB coin), Walkers, Buffalo Nickels, Indian Cents (RB), Franklins (try to buy a FBL coin) which are all pretty cool to have in mint state. You need to think about your budget over time and determine the maximum amount you can spend per coin, since that will determine the grade you can purchase for each type.
Its hard to be patient and there will be a real temptation to buy several lower grade, less expensive coins to fill up the set quickly rather than one or two more expensive ones. Resist that temptation and buy the highest grade you can afford and take more time to build your set. Avoid lack luster, spotted, and darkly toned coins.
You can also buy a number of common date Morgan dollars in MS65 for less than $200, and if you have a good eye and the discipline to look at a lot of coins, you can find some really nice MS64's for less money that are real close to MS65. Even a number of better date coins can be purchased in MS63 for less than $200 per coin and if you cherry pick you can find some nice ones.
In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
And remember the most important thing. Have fun collecting.
CG
<< <i>OK, forget about the tutor for now. School's out for the summer anyway.
You might want to start assembling a type set, starting perhaps with a 20th century set. You can buy MS64 or 65 Mercs (try to buy a FB coin), Walkers, Buffalo Nickels, Indian Cents (RB), Franklins (try to buy a FBL coin) which are all pretty cool to have in mint state. You need to think about your budget over time and determine the maximum amount you can spend per coin, since that will determine the grade you can purchase for each type.
Its hard to be patient and there will be a real temptation to buy several lower grade, less expensive coins to fill up the set quickly rather than one or two more expensive ones. Resist that temptation and buy the highest grade you can afford and take more time to build your set. Avoid lack luster, spotted, and darkly toned coins.
You can also buy a number of common date Morgan dollars in MS65 for less than $200, and if you have a good eye and the discipline to look at a lot of coins, you can find some really nice MS64's for less money that are real close to MS65. Even a number of better date coins can be purchased in MS63 for less than $200 per coin and if you cherry pick you can find some nice ones.
In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
And remember the most important thing. Have fun collecting.
CG >>
Thank you for your words of wisdom, I dont know about the type set. I really like Morgan dollars though, I just fear that I wont be able to ever complete the set, some are really expensive. Is there anything else out there that I can get my hands on, which I will eventually be able to obtain a complete set of, in a nice grade, that has history to it, nothing modern.
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
Hey, im 16, and when ever i get a couple hundred i get a nice graded morgan. Dont worry about completing the set till your older. I actually have a lot of duplicates cuase each one is different. I would suggest a nice common date 65. Maybe with some nice color. Or you can try for a carson city in a GSA box, they are pretty nice!
">"http://www.cashcrate.com/5663377"
<< <i>MY SCHOOL IS STILL IN!!! 3 Days
Hey, im 16, and when ever i get a couple hundred i get a nice graded morgan. Dont worry about completing the set till your older. I actually have a lot of duplicates cuase each one is different. I would suggest a nice common date 65. Maybe with some nice color. Or you can try for a carson city in a GSA box, they are pretty nice! >>
Heres what I got for Morgans:
1901-O MS 62 anacs
1904-O MS 63 anacs
1886 MS 61 anacs
1882-S MS 64 Tru Grade Service
1885 MS 63 DMPL ICG
1884-CC MS 63 NGC
1880-S MS 64 NGC
1883 MS 65 NGC
1898 MS 64 NGC
1884-O MS 64 NGC
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
I dont have any 65's but thats my next goal
i have:
1902-o ntc 63
1904-o ntc 62
1899-o ngc 64
1880-s pcgs 64pl
2x 1879-s anacs 64
1884 ngc 64pl
1881-s pcgs 64
1888 pcgs 64
1884-o pcgs 64
1882-o pcgs 63
1890-s pcgs 62
1878-cc pcgs64pl
1884-cc pcgs63
1883-cc in GSA box
+ about 30 raw
">"http://www.cashcrate.com/5663377"
As I've said before, I strongly disagree. Carefully spending money on raw coins is the best education. The education can easily yield dividends far beyond any possible profit that could be had on a couple hundred bucks worth of slabs. Just be sure that when you make a decision to buy something it is your decision and not just a dealer's recommendation.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
">"http://www.cashcrate.com/5663377"
BTW, CalGold, perhaps a spelling tutor could help?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
As I've said before, I strongly disagree. Carefully spending money on raw coins is the best education. The education can easily yield dividends far beyond any possible profit that could be had on a couple hundred bucks worth of slabs. Just be sure that when you make a decision to buy something it is your decision and not just a dealer's recommendation. >>
Im too afraid to buy unslabed fearing that the condition will drop, because not being in the right holder.
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
">"http://www.cashcrate.com/5663377"
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
">"http://www.cashcrate.com/5663377"
That type of thinking will guaranty mediocrity. Sooner or later, you're going to need to drop the training wheels.
In the meantime, how about trying to sell your three least favorite silver dollars at the show. The feedback you'll get from dealers can also be a great education.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
">"http://www.cashcrate.com/5663377"
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
">"http://www.cashcrate.com/5663377"
<< <i>WEll were up to More morgans, walkers, barbers...Ill add Franklins Thats a pretty easy set to complete in high grade if you want to set a goal for yourself. >>
I want something to start with to have a set of, so I feel confident then something that I can shoot for thats a nice challege.
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
or Peace Dollars in Mint State (common dates in MS64 or better)
both are challenging yet completable in a reasonable timeframe with a decent budget.
for extra challenge, try to have some attractively toned ones
Liberty: Parent of Science & Industry
<< <i>Franklin Halves in MS64 and up with some FBLs
or Peace Dollars in Mint State (common dates in MS64 or better)
both are challenging yet completable in a reasonable timeframe with a decent budget.
for extra challenge, try to have some attractively toned ones
I like the way you think.
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
what's not to know? it's also fun and challenging..
yet not impossible to do on a budget
[
Liberty: Parent of Science & Industry
Liberty: Parent of Science & Industry
<< <i>
<< <i>In all cases DO NOT BUY RAW COINS. Only buy coins in PCGS or NGC holders. No execptions.
As I've said before, I strongly disagree. Carefully spending money on raw coins is the best education. The education can easily yield dividends far beyond any possible profit that could be had on a couple hundred bucks worth of slabs. Just be sure that when you make a decision to buy something it is your decision and not just a dealer's recommendation. >>
Im too afraid to buy unslabed fearing that the condition will drop, because not being in the right holder. >>
I have learned much more about the coin market by reading books and posts on forums such as this than through buying slabbed coins.
If I had taken the advice not to buy raw coins, I would be without my favorite collections: high grade Barber Dimes (2 complete sets), Barber Halves (1 complete set) and U.S. 19th & 20th century Type set (missing only 5 gold coins).
Yes, I have ocassionally learned the hard way by buying raw coins. I have also learned the hard way by buying common-date NGC or PCGS-slabbed Morgans and Franklins at the peak of their popularity. Some coins at the low end of the grade on the insert might end up in your casket if you wait until you can sell them for a profit.
Once I purchased a slabbed Barber Dime from the almost universally reviled grading service Accugrade, which turned out to be undergraded by at least two points. (Although I probably saw 800 to 1,000 eBay auctions for overgraded Accugrade coins before I snagged this one). I have also enjoyed coins slabbed by PCI or ANACS as having "problems".
If you are afraid that the name of the slabbing company will diminish your coin's value but are confident in its grade, don't hesitate to crack it out and keep it as a raw coin in your collection. Needle-nose pliers and a good library of coin books can be your friends while you decide how to spend your coin budget. The above advice to act on your opinion vs. a dealer's recommendation is sound advice, though.
But you need to do a few of the series starting with 2004 dated coins and work backwards, all from circulation. As you work backwards on all of the different denominations, you will learn to discern for yourself what series you like best. Do them all, then start to specialize.
The great thing about starting this way is you are doing it with coins that you spend face value for. It will stretch your dollars furthest. Make many trips to the local banks to buy rolls and even bags of coins and have a heck of a grand time putting a set of 1965 to present coins and further back for lincolns and jeffersons. You will develop your grading eye quicker as well!
On a budget such as yours you can go back to nearly 1934 and complete just about all of the series over time. I do suggest that any coin that costs you more than $50 you should buy slabbed, if possible. This will reduce your mistakes but not eliminate them. Under $50 do not be afraid to buy them raw and use your discretion.
Then, you can gradually push back the start date to 1932 for all series, then 1931, etc. You will have a blast doing thing this way. The years of 1921 to 1933 are among the most exciting of all in coins, especially lincoln cents.
If you continue to have a Morgan silver dollar "fix" keep buying them but limit yourself to only one every three months as you gravitate towards the more expensive.
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
My Ebay!
It amuses me in some macabre way.
Any coin I get that is slabbed, will remain that way.
There's nothing wrong with knowing your limitations and relying on a third party to grade for you. Just don't assume that others will forever be subject to those same limitations. Especially 16 year old kids that have all the time in the world to learn how to grade.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.