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SDcoinguy
Pillar Of The Community
United States
705 Posts |
 Posted 02/07/2010 5:32 pm
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My intentions for writing this is to get as many opinions and suggestions as possible.
I have been handed down a collection of coins from my parents/grand parents and there are many holes left to be filled.
As of late, I have been focusing on my Kennedy half collection, inspired by most of you with starting to roll hunt for the silver. I figure if I continue to sell the silver I can start to buy various coins for the other folders I have.
I would say that money is the one thing holding me back from collecting more however. So by me asking all of you, what are other ways in which someone like myself, who cannot afford to go to the bank with more than $100 to roll hunt, do in the meantime to get good deals with older coins.
I have tried estate sales, but most of the time they rarely have coins. And when they do have coins, they call the dealers and shops first to let them have first crack at the lot ( in humane if you ask me =D)
So please bring the comments and suggestions.
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Oldest Roll/Loose Finds:
.01 - 1894 IHC
.05 - 1902 Liberty V
.10 - 1918-S Merc
.25 - 1935 Wash
.50 - 1964 Kennedy
http://sdcoins.ecrater.com/ |
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afcop13
Pillar Of The Community
United States
1036 Posts |
Posted 02/07/2010 6:24 pm
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I'm not an expert by any means, but I'd say this:
Educate yourself, read all you can about whatever it is that you are looking to collect. You'll know how to search for fair deals and avoid getting ripped off.
Be patient - focus on a couple or few coins and search them out in auctions (Ebay, etc), flea markets, coin shops & shows, etc.
I'm really new to this too, and also don't have the desire (or wifes permission) to blow a bunch of $$ doing it. Plus, I really don't have the time it would take to search a box of halves or nickels. So I do a few rolls at a time, look in cashiers drawers for .50's and pay attention to pocket change. While travelling this week, I intend to hit a couple banks in a couple small towns and maybe a coin shop.
Best of luck to you.
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Oldest Roll/Loose Finds:
.01 - 1904 IHC
.05 - 1925 Buff
.10 - 1952 Rosie
.25 - 1957 Wash
.50 - 1918 Walker |
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scotty11
Valued Member
United States
282 Posts |
Posted 02/07/2010 6:47 pm
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My only advice is to try not to do too much, too soon. My main focus is Lincolns, but I've learned that it's not very difficult to put together a nice Jefferson collection via roll-searching.
Heck, I recently sold a nickel I found for $19.50.  I'm planning on using that money to fill a couple of holes in a Lincoln collection that I'm putting together.
As afcop13 already mentioned, education is key. And this forum is a fantastic place to learn.
Welcome! 
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925dealer
Valued Member
United States
199 Posts |
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SDcoinguy
Pillar Of The Community
United States
705 Posts |
Posted 02/07/2010 7:29 pm
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i did notice one thing, that most people here get their coins from roll searching or aution/ebay. is there a reason why not many of you go to estate sales?
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Oldest Roll/Loose Finds:
.01 - 1894 IHC
.05 - 1902 Liberty V
.10 - 1918-S Merc
.25 - 1935 Wash
.50 - 1964 Kennedy
http://sdcoins.ecrater.com/ |
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Halfwitty
Pillar Of The Community
United States
1523 Posts |
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afcop13
Pillar Of The Community
United States
1036 Posts |
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Halfwitty
Pillar Of The Community
United States
1523 Posts |
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wvyankee
New Member
United States
25 Posts |
Posted 02/07/2010 11:16 pm
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Here's my two Lincolns. I am new to this hobby as well and had many of the same questions/concerns you have. I have collected baseball cards since 1981 and am still currently involved in that endeavour as well.
As far as budgetary concerns, I found it easier for me to concentrate on the Lincolns first. They are relatively easy to find in the beginning.
I had ambitions of going to estate sales as well, but found that although the coins are sold in lots, they have probably already been picked over, sold for content or just not there for some reason.
I currently search bank rolls for the Lincoln cents and get lucky enough to find the occasional one or two to hold onto and then re-roll the coins and return them to the bank for more.
I currently only do 500-1000 at a time, so the time constraint isn't that great and they only cost me $5-$10 once or twice a month.
As someone mentioned earlier, the best thing that I have found starting out is to read everything you can get your hands on about whatever you decide to collect.
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925dealer
Valued Member
United States
199 Posts |
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southerngent
Valued Member
United States
256 Posts |
Posted 02/08/2010 12:45 pm
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I have been collecting for about 40 years. I started by looking through all of mine and my parents change. Read as much as you can so you don't make expensive mistakes. Roll searching is a great way to get started with very little expense. Before you spend money on purchasing coins, know what you are looking to collect and whenever possible, purchase the best quality that you can afford rather than just filling spaces in the book. That's something I didn't do when I was a kid and really wish I had. Be very careful buying from EBay. I have stopped due to misrepresented items. Also be careful about buying from companies that don't sell coins based on the 70 point scale as they are rarely as represented. Get to know a local dealer that will help you learn the hobby and provide you with reasonable purchases.
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penny pincher
Valued Member
USA
417 Posts |
Posted 02/08/2010 8:25 pm
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1. Educate yourself. This site has a lot of information and willing people to get you started. There are sites set up for just specific types of coins and get into them a lot more. The other way is to buy a few books or check out your local library and see what they have.
2. What do you like? This is an easy and difficult question rolled into one because everyone has a different answer, The only correct answer is to collect what YOU like. If you have been given a coin collection to start with, then look through it and see what types of coins jump out at you. Then refer back to number one.
3.Where to buy? The easiest place to buy from would be coin stores and conventions because of the vast number of coins they have and the ability to pick the ones you want. There is always eBay as well, but you really need to be cautious when doing so. I would say that about half of the items listed are overpriced, ask too much for shipping or are put up by someone that is lying about the listing (EX. there is someone right now listing UNSEARCHED rolls of cents that have a flying eagle on one end and an Indian head on the other. This never happens). But buying the single coin now and then and some small allotments is a good place to start.
4.Grade. Depending on your level of collecting this is something to think about because you can buy some coins for almost nothing in a very low grade, but it also may not be desirable later on. Most people that collect have a certain grade set in their mind and they will not accept anything else. Newer coins can always be found in higher grades for cheap but the older ones could cost your monthly allowance. While just starting out you may not care about the grade, but always keep it in mind to buy the best when you can.
5.Roll Searching. This is the easiest and cheapest way to do it but the reward of finding something that fits your collection may not be. Since this is the cheapest way it is also the most time consuming and rewarding all in one. For anyone that collects coins I feel that they should do this to some point even if it is just a few a month. Like stated earlier, you may find some nice coins that can be traded or sold to further your own collection.
6.Cheap vs. expensive. This is always a personal question because what I can spend in a year some can spend in a day. Watch what you buy and how often, track your collection and see what you are spending it on. No matter what your limits are you can always find a lot of great stuff. Most coin stores have some type of discount area or hidden gems if you are willing to spend the time looking for them.
7. Supplies. This should ALWAYS be included in your budget, what is the reasoning of buying something if you are not going to take care of it. Books, 2x2's, pages, rolls, etc. are all part of your collection and should be treated as such. These items will help protect and store what you have.
8. Old and new memories. The books that you were given may have type of memory to your past or a loved one and because of that you may not want to do anything with them. These might be a starting block to get you started or a goal for you to finish what someone once started, either way, there is a memory attached. If these items are special then treat them accordingly and start a new set yourself, if not, look at the conditions and maybe upgrade the books and/or coins. I know I have a few books that were given to me by grandparents that will never be finished because I try to keep them just as they were given to me, while other ones went right into my collection or passed down to my kids.
9. Have fun. This is the most important factor because when you quit having fun then there is no point of collecting. I started when I was a kid and quickly forgot aboutit then a few years ago I got back into it because I was looking for a new hobby and it sounded un again. Now my kids are getting involved and I think my 6 year old will have a nicer collection than me in a few years.
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jefflarkin
New Member
United States
1 Posts |
Posted 02/09/2010 10:09 pm
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Penny Pincher- Thanks for such a thorough and helpful response.
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SDcoinguy
Pillar Of The Community
United States
705 Posts |
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Affirmation
New Member
United States
14 Posts |
Posted 02/11/2010 9:06 pm
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What a great topic! I loved reading through these responses full of wisdom!
In fact, payday is next Friday and when I go into the bank I'm buying a couple rolls, not sure which ones to buy yet but I'm excited! Perhaps a roll of dimes and a roll of half dollars.
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Edited by Affirmation - 02/11/2010 9:08 pm |
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Parklane64
Pillar Of The Community
USA
1457 Posts |
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