Hi..Newbie here with Questions about Collecting

Zubie · January 27, 2009 2:49PM

Hey guys,
Just found this website and it looks great. I'm very new to collecting, but, now have all the new silver/mint proofs 1999-2008 and all Silver Eagles proofs. I also just started subscriptions for several coins/sets on the US Mint website.

My questions are:

1. What would be a good coin to start collecting? I like Silver and can put about $250-500 a month into collecting.

2. What websites do you guys buy from? I have used ebay a lot, but, I know there has to be better places out there.

3. Do you guys send all your coins into NGC to have them graded or just the high value (just wondering if I should send in my ASEs)

4. Are there any "must haves" I should look at...even if they are gold or plat?

There is much info on this website it is almost overhelming, but, I'm slowyly going through the threads and try to absorb as much as I can.

My goals are to have a great collection, but, in case of bad finanical times, to sell some to make ends meet. Do you guys usually buy more than one of each item....buy 3 and sell 2 down the road?

Sorry for all the questions...its just hard to figure out what to do and not lose $$$ shopping on ebay!!!

Thanks guys,

Tim in San Diego

ddbird · January 27, 2009 2:53PM

Get a book (red book) find a series you enjoy...buy more detailed books on that series.

Don't bother sending coins in for now...stick to buying graded coins from PCGS, NGC, ANACS until you become familiar with your series (but you should already have read the books

)

This will keep you from getting burned. Ask about the sites later..I would buy my first few coins in person but that's just a personal opinion.

In short...read, read, read, buy certified (from the top three) and you won't get burned (too badly)

Zubie · January 27, 2009 2:56PM

Wow,
That was fast. Thanks DDBird.
Yes, I did buy a Red Book last week, but, the current values seem to be way higher in the book than on ebay (my only buying source right now).
Still trying to figure out what is a good deal and not get ripped off.
Tim

WoodenJefferson · January 27, 2009 3:00PM

3. Do you guys send all your coins into NGC to have them graded or just the high value (just wondering if I should send in my ASEs)

Perhaps this a Freudian slip...then again maybe not, you do realize that your posting on a PCGS website...right?

(no offense to NGC, these two companies are the top two grading companies)

edit: Since 1986, the Mint has produced many Commemorative coins in silver. Most of these issues have increased in value over the mint issue price, some even are now going for rather large amounts.

This could possibly be a good area for you to collect...safe and most coins came from the mint in high grades and have never circulated because they are designed specifically for collectors. Just a thought.

ddbird · January 27, 2009 3:00PM

Red book is only a "general" idea. You'd need a current bid/ask for my accurate price guide.

I used mine to look through the pictures until a series really popped out.

If you can (some can't) buy in person for your first few coins, you'll learn what to look for and a certain look you enjoy.

If not, stick to lower priced coins at first on ebay (and graded). You won't learn anything if you buy a bunch of raw POS coins at first (although they are helpful for learning and you're bound to buy a few cleaned/scrubbed junk coins) . Everyone does at first.

pursuitofliberty · January 27, 2009 3:01PM

Welcome Zub' ... and a big ditto to the ddbird's comments.

Read ... a lot ... ask questions ... a lot ... tread slowly, especially at first ... and enjoy the journey!

Zubie · January 27, 2009 3:16PM

<< 3. Do you guys send all your coins into NGC to have them graded or just the high value (just wondering if I should send in my ASEs)

Perhaps this a Freudian slip...then again maybe not, you do realize that your posting on a PCGS website...right?

(no offense to NGC, these two companies are the top two grading companies)

edit: Since 1986, the Mint has produced many Commemorative coins in silver. Most of these issues have increased in value over the mint issue price, some even are now going for rather large amounts.

This could possibly be a good area for you to collect...safe and most coins came from the mint in high grades and have never circulated because they are designed specifically for collectors. Just a thought. >>

Uhh...woops...didn't know this was a PCGS site, thought it was a general coin collecting webboard. Thanks for the heads up!

On the silver Comms...any in the last few years I should go back and look for? 2001 Buffalo? What about the legacy sets?

Also, what are you guys thoughts about the Walking Liberty 1916-1947. I really love the the look of that coin. Is it a fairly "easy" coin to collect?

Thx...Tim

cladking · January 27, 2009 3:19PM

Welcome aboard.

You can put together a pretty nice walker set on the money you want to spend.

Plan it ahead though.

ProofArtworkonCircs · January 27, 2009 3:20PM

Welcome

Type2 · January 27, 2009 4:00PM

<< 3. Do you guys send all your coins into NGC to have them graded or just the high value (just wondering if I should send in my ASEs)

Perhaps this a Freudian slip...then again maybe not, you do realize that your posting on a PCGS website...right?

(no offense to NGC, these two companies are the top two grading companies)

edit: Since 1986, the Mint has produced many Commemorative coins in silver. Most of these issues have increased in value over the mint issue price, some even are now going for rather large amounts.

This could possibly be a good area for you to collect...safe and most coins came from the mint in high grades and have never circulated because they are designed specifically for collectors. Just a thought. >>

Just keep asking we all have a opinion some not good like mine.

Buy the keys first. But that is just me.

LotsoLuck · January 27, 2009 4:02PM

Hang out here and you will learn a lot.
My input
Learn to grade, make it a priority.
Buy slabbed coins from the top three grading services but remember dogs sometimes come in plastic too.
Dont buy from ebay when the seller has a poor rating, poor pictures or a no return policy.
"Unopened" Unsearched"

And for gods sake, dont ever post a picture of a "blazing white" coin here!

illini420 · January 27, 2009 4:25PM

If you like silver, take a look a bit further back in the Redbook and look at all of the classic commemoratives. Some really nice ones in PCGS MS65-MS66 slabs can be had for about $200-$250 a coin. FYI, the PCGS Price Guide overstates the values of these a bit so be careful. I would check eBay sales and Teletrade sales for current market values of about any new series I was getting into.

Overall, find something you like and buy those

DorkGirl · January 27, 2009 4:28PM

robkool · January 27, 2009 4:34PM

Franklin Halves... & Peace Dollars...

morgandollar1878 · January 27, 2009 4:37PM

There are a feew things aside from grading that is very important for you to learn. Those are counterfiet detection, coins that have been cleaned or altered, and artificial toning. PCGS has published an excellent book to help you learn these things. It is the "PCGS GUIDE TO COIN GRADING AND COUNTERFIET DETECTION". The link below is one on ebey right now with free shipping. I found it because I wanted you to see what the book looks like, and yes it is the newest edition. To me this is a book that any collector should have. It will help you a lot through you collecting endevors. Don't forget to check out the ANACS graded coins that they have tagged as cleaned, whizzed, etc. PCGS is also tagging coins now as genuine, if they are cleaned or altered. They however will not slab a counterfiet coin. I kind of wish they would and just put counterfiet on the holder. NGC also has coins that they will mark as cleaned, whizzed, etc. that you can also look at. This way you can get a hands on view of what an altered coin looks like. Having this knowledge will save you a lot of heart ache down the road. Happy hunting with what ever coins you decide to collect.

http://cgi.ebay.com/PCGS-Official-Coin-Grading-Counterfeit-Detection-Guide_W0QQitemZ360054146191QQcmdZViewItemQQptZLH_DefaultDomain_0?_trksid=p3286.m20.l1116

dizzyfoxx · January 27, 2009 4:37PM

Hey Zubie the Newbie, welcome member to be.

CertifiedGoldCoins · January 27, 2009 4:48PM

<< My questions are:
1. What would be a good coin to start collecting? I like Silver and can put about $250-500 a month into collecting.
2. What websites do you guys buy from? I have used ebay a lot, but, I know there has to be better places out there.
3. Do you guys send all your coins into N

C to have them graded or just the high value (just wondering if I should send in my ASEs)
4. Are there any "must haves" I should look at...even if they are gold or plat? >>

1.Since you like silver, consider a Seated Liberty silver dollar, or even earlier types.
2. People like eBay because they can set "their" price at auction, by bidding, as opposed to paying fixed prices, set by dealers on their sites. Google coin auctions, and check out the major auction houses (Bowers, Goldberg, Heritage, Stack's, Superior, Teletrade).
3. Stop buying raw coins, and you won't have to worry about getting them graded later.
4. Must haves? Yes: books.

MillerJW · January 27, 2009 5:29PM

Here is what i learned from starting in the hobby:

First i started with collecting a dansco album of silver eagles, then i moved to silver war nickels, then to capped bust dimes, and finally to a type set. Moral of the story is dont spend too much money on one series without knowing that series, and also once you REALLY get into a series you will find out how much you actually like thoes coins. Keep an open mind because im sure it will chage.

Zubie · January 27, 2009 8:35PM

Good info so far...thanks,
Can someome recommed a dealer in San Diego?
Google came back with several...Thx

Are there books on Silver coins in general that someone could recommend as well...T

lcoopie · January 27, 2009 9:53PM

welcome
All good questions
Even though there are nice coins to be had on ebay,
you have to know what you are doing to get them,
and it's easy to get the less desirable ones.
True you will pay less, but I don't advise it.

The coins from the mint will likely never be rare,
having said that, I get them as well.

There are a few top notch dealers you should look to,
they will introduce you to the better quality coins,
you will pay more, but it will be worth it as you
will build a better collection and learn to appreciate them.

Only buy PCGS or NGC coins.

etexmike · January 27, 2009 10:23PM

and welcome to the forums Tim.

Mike

keepdachange · January 27, 2009 10:25PM

I started with the Morgans as they were inexpensive in the common years but could still get an MS66 for around $200-$300 and were readily available. Then you can work on key dates etc. Definately buy them slabbed and graded from a reputable TPG. I like DLRC, Teletrade, Heritage, NATC, as far as web based companies for purchases. They all offer a return policy and provide great pictures. Good Luck and welcome aboard!

JoeLewis · January 27, 2009 11:28PM

Zubie,

Here's a TON of online coin stores to choose from!

Stone's Master List of Coin Sites

sonoranmonsoon · January 27, 2009 11:35PM

<< There are a feew things aside from grading that is very important for you to learn. Those are counterfiet detection, coins that have been cleaned or altered, and artificial toning. PCGS has published an excellent book to help you learn these things. It is the "PCGS GUIDE TO COIN GRADING AND COUNTERFIET DETECTION". The link below is one on ebey right now with free shipping. I found it because I wanted you to see what the book looks like, and yes it is the newest edition. To me this is a book that any collector should have. It will help you a lot through you collecting endevors.

http://cgi.ebay.com/PCGS-Official-Coin-Grading-Counterfeit-Detection-Guide_W0QQitemZ360054146191QQcmdZViewItemQQptZLH_DefaultDomain_0?_trksid=p3286.m20.l1116 >>

First of all, WELCOME! This forum will help you get up to speed quickly. Second, I agree completely with the advice given about the "PCGS Guide to Coin Grading and Counterfeit Detection". It is very well written, and will give you a great base to build your knowledge from. Good luck in your adventure.

garsmith · January 28, 2009 12:06AM

Hang out at a coin store for a while and just look; see which coins interest you the most. I started with proof silver eagles and spread way out from there

Zubie · January 28, 2009 5:01AM

<< 

<< There are a feew things aside from grading that is very important for you to learn. Those are counterfiet detection, coins that have been cleaned or altered, and artificial toning. PCGS has published an excellent book to help you learn these things. It is the "PCGS GUIDE TO COIN GRADING AND COUNTERFIET DETECTION". The link below is one on ebey right now with free shipping. I found it because I wanted you to see what the book looks like, and yes it is the newest edition. To me this is a book that any collector should have. It will help you a lot through you collecting endevors.

http://cgi.ebay.com/PCGS-Official-Coin-Grading-Counterfeit-Detection-Guide_W0QQitemZ360054146191QQcmdZViewItemQQptZLH_DefaultDomain_0?_trksid=p3286.m20.l1116 >>

First of all, WELCOME! This forum will help you get up to speed quickly. Second, I agree completely with the advice given about the "PCGS Guide to Coin Grading and Counterfeit Detection". It is very well written, and will give you a great base to build your knowledge from. Good luck in your adventure. >>

Thanks guys, I just bought this book on ebay for 75 cents...sweet!!! I promise that will be my last ebay coin related purchase!!!
If anyone can still recommend a dealer in SoCal, I'd appreciate it. I have next week off and will probably go hit a few dealers.

Do you guys bother with the modern stuff from the Mint? Or should I just save my $$$ and try for the older collections like Morgan or Peace dollars?

I hope you guys don't mind me asking questions 10 times a day. I'm on a hotel standby to go fly and they haven't used me all week!!!
Tim

QuarterCollector · January 28, 2009 5:06AM

Welcome!!!!

It has been stated in previous posts but I will reiterate. Put that 250 a month toward books first. READ everything you can. I suggest The experts guide to collecting and investing in rare coins by QD Bowers and The coin collectors survival manual by Scott Travers to start. Good Luck and have fun.

Tom

JJM · January 28, 2009 5:25AM

go with the classics, Morgans, Franklins, Walkers, Merc

have fun

ModernDollarNut · January 28, 2009 5:57AM

Welcome aboard, Tim!

Read, read, read some more before you spend more than you would blow casually buying a lunch.

The Internet now provides a wealth of series-specific information. For example the new Ike dollar web site, www.ikegroup.org ,linky.

On that web site is several books worth of cutting edge and back-ground info on Ikes, much of which generalizes well to other series, and it's all free (though you'll have to register and post at least once to gain access to a few neat Forum threads).

Ikes are uniquely inexpensive compared to more classic series, though in a decade or two Ikes will be classic, too.

Also, check out www.smalldollars.com linky a wonderful web site for all the dollars that came after Ikes. Rob

Hi..Newbie here with Questions about Collecting

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