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New Member

United States
1 Posts
 Posted 03/14/2012  2:25 pm Show Profile Bookmark this topic Add chyunlee to your friends list Get a Link to this Message

Hello everyone -

As the subject reads, I'm new to this field and wanted to get your thoughts on where to get educated in coin collecting. It would be great if you can point me to an online reference. Also, what your recommendations are for the first purchase -- from an investment perspective. Silver? Gold? Pros / cons for each.

Thank you in advance for your time.


*** Moved by Staff to a more appropriate forum. ***

Valued Member
United States
162 Posts
 Posted 03/14/2012  2:57 pm  Show Profile Bookmark this reply Add ZiggyZ to your friends list Get a Link to this Reply



Where to get educated? Right here! You'll learn an awful lot just hanging around the site, reading forums, and asking questions when you have them.
Pillar of the Community
United States
2584 Posts
 Posted 03/14/2012  2:59 pm  Show Profile Bookmark this reply Add Jayman931 to your friends list Get a Link to this Reply
to the forum!

You have asked a lot of questions with a lot to consider. I have learned the most in regards to coins actually from this site. There is a ton of information on this site as well as a lot of people with many many years of experience.

I bought the " Red Book" which is a price guide to all US Coins because that is what I am mostly collecting. Specifically I am making an album of all Lincoln Cents in MS condition. I also "Coin Roll Hunt" and look for mint errors.

You really can start with any denomination to start collecting. It is personal preference.

A good one that I think right now to start on would be the National Park Quarters. The mint just started making them 2 years ago so you are not that far behind.

Good luck and
Truth will ultimately prevail where there is pains taken to bring it to light.~ GEORGE WASHINGTON

Don't take it personal I am just straight forward.

Edited by Jayman931
03/14/2012 3:00 pm
Pillar of the Community
United States
870 Posts
 Posted 03/14/2012  4:14 pm  Show Profile Check kookoox10's eBay Listings Bookmark this reply Add kookoox10 to your friends list Get a Link to this Reply
Since you are just starting out, it wouldn't hurt to try out a type set. Where you collect one of each design made, some are affordable, and some not depending on date. But what this does is it familiarizes you with the history of the different mint released designs, and it will also steer you to a particular series (ie:Roosevelt Dimes, Indian Head cents) to collect.
Pillar of the Community
United States
1367 Posts
 Posted 03/14/2012  9:19 pm  Show Profile Bookmark this reply Add 1893S to your friends list Get a Link to this Reply
Go to local Coin Shows. As far as what coin is a good investment, that will be a couple years down the line for you once you figure out what you're interested in collecting. Generally the rarer the coin the better investment potential. BUT, investments in coins for future profits is a crap shoot at best!
Valued Member
United States
414 Posts
 Posted 03/14/2012  9:26 pm  Show Profile Bookmark this reply Add ram96 to your friends list Get a Link to this Reply
Welcome. Just hang out here and you will get quite an education.
Pillar of the Community
Learn More...
United States
2587 Posts
 Posted 03/14/2012  10:15 pm  Show Profile Bookmark this reply Add Buddy to your friends list Get a Link to this Reply


I think this is a good place to get educated about coins. The experts who visit this site are very generous about sharing their time and knowledge.

I would also suggest going to your library and looking at their coin books books before buying one with the possible exception of the Red Book which is a standard reference.

If you're interested in buying gold and silver, watch the melt values -- those are always available on the net and they change constantly.

As for investment coins ---- well, for me it's a hobby but I have been told that the money-makers are the key dates. I'm not ready to invest in one of those yet because I still have a lot to learn about spotting a fake.

Over the past couple of years I have found that the people who are selling coins for profit have been collectors for decades and the stuff they bought 30 years ago is worth more today than when they bought it. I don't think that there is any short-term way to make a profit on coins with any certainty.
Valued Member
United States
132 Posts
 Posted 03/14/2012  10:41 pm  Show Profile Bookmark this reply Add TonedMo87 to your friends list Get a Link to this Reply
If you've got an amazon account, they have plenty of books on Kindle about coin collecting for much cheaper then paper back, including the Red Book and multiple books on specific coins. It's also helpful as I can take this information with me on my iPad, and zoom in, out...etc, btw welcome!
Valued Member
Canada
272 Posts
 Posted 03/15/2012  12:31 am  Show Profile Bookmark this reply Add yves to your friends list Get a Link to this Reply
Hi !

Like mentionned, starting with roll searching can be very fun and cheap. You will learn a lot of thing with that.

Thanks !
Pillar of the Community
Australia
585 Posts
 Posted 03/15/2012  05:55 am  Show Profile Bookmark this reply Add turtleoverhead to your friends list Get a Link to this Reply

Quote:
Also, what your recommendations are for the first purchase

Always the book before a coin
Bedrock of the Community
United States
13039 Posts
 Posted 03/16/2012  2:26 pm  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply

As basically already noted to start:
1. Buy a book called the Red Book on coins by Whitman Publishing.
2. Presently a on line company called Wizard is having a half price sale on them if you pre order the latest one.
3. Run though all the forums and posts right here for some ideas on coins. Usually lots of photos of them too.
4. Don't run out and buy any coins until you are familiar with some of the price guides on line such as Numismedia.
5. If you can find and go to a coin show you would see a masssive amount of possible coins to buy and usually at the best prices.
6. Keep far away from places like eBay until you know what you are doing.
7. Develope your own likes and dislikes on coins so you will not be saying some day "why did I listen to that person?"
8. When in doubt about anything in coins, ask here.
just carl
Pillar of the Community
United States
2277 Posts
 Posted 03/21/2012  3:31 pm  Show Profile Bookmark this reply Add wquinn to your friends list Get a Link to this Reply
And before buying coins, learn how to grade them. Otherwise you'll end up overpaying for them.

The ANA has a nice grading book. And there are a couple of photograde books too.

And don't even think about investing in them, until you really know what you are doing. You'll lose way too much money, if you don't. There are some coin books written on that subject too.
Edited by wquinn
03/21/2012 3:33 pm
Pillar of the Community
United States
4192 Posts
 Posted 03/21/2012  6:52 pm  Show Profile Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
This question gets asked a lot .. and is hard to answers, because ....

Everyone has different likes ... meaning not everyone has the same desire for each series of coins.

Also income level or what you willing to pay for each coin can be a big factor in how you might like to collect.

If you really can't decide .. maybe just start out doing a type set album. Dansco, Whitman and Intercept shield all make a version of this set. I would put the best example you can afford into to each coin needed to fill the album.
Mine has taken me over 20 years to complete ... and now I am in the upgrade phase of putting this set together.


Pillar of the Community
Canada
1549 Posts
 Posted 03/21/2012  7:40 pm  Show Profile Bookmark this reply Add glenzy1 to your friends list Get a Link to this Reply
Nice to see you onboard, I don't collect U.S. coinage, however, the principle of collecting is the same regardless of what series/type of coins you decide upon. Just remember that knowledge is Power!
Before you decide to make a single purchase read up all you possibly can on the coins you may be interested in and gain as much knowledge as possible on the subject.
At times this can tend to be a very expensive Hobby and by educating yourself, you can certainly save many grave mistakes that novices tend to make.
One of the "smartest" moves you made was to be a Member of C.C.F.! Congrats and again welcome aboard!

Glenn
Valued Member
Serbia (Srbija)
449 Posts
 Posted 03/22/2012  09:34 am  Show Profile Bookmark this reply Add mvojnovic to your friends list Get a Link to this Reply
to CCF
"Navikli smo da, naime, vladamo tuđim, a ne drugi našim ,u to smo sigurni dok bude ratova I mačeva"
Daurentije
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