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Reborn Collector Seeking Advice: Pricing And What To Collect

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Pillar of the Community
United States
4897 Posts
 Posted 01/09/2012  11:02 pm  Show Profile   Bookmark this reply Add amida17 to your friends list
Oh and the 20c! I think your bids will need to be closer to what you call "market"
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United States
16679 Posts
 Posted 01/09/2012  11:08 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list
I would get your hands on some early copper and Seated coins :-)
Classic gold is always a good choice.
swcoin.ecrater.com
Pillar of the Community
Canada
3692 Posts
 Posted 01/09/2012  11:10 pm  Show Profile   Bookmark this reply Add Libertad to your friends list
You might get some snobs on here that say that coins aren't stamped, they're minted. A stamp would be a more hollowed out object with the back and the front being opposites. They are instead the result of two dies pressed against each other onto a blank with great force, and not a "cookie cut-out" action that shapes and cuts at the same time.
:)

I would begin with a question to you. What did you collect as a kid, and what appeals to you? "Beauty is in the eye of the beholder." Take it as far as you can go without breaking the bank. Do what feels comfortable. I know this sounds like generally lazy advice but it's what really works. No one can tell you what to collect - that's the beauty of this hobby. You can with trends or you can go with whatever else in the world. It's really up to you!
Have fun! And don't forget to post lots of pictures here, we are photo hounds!
Valued Member
United States
292 Posts
 Posted 01/09/2012  11:18 pm  Show Profile   Bookmark this reply Add ContraJame to your friends list
The Lafayette actually caught my eye as well. The history on that coin is quite good as far as I can tell and would most likely lead to more research. Here's a copy of the coin being auctioned if you're interested: http://imgur.com/lXcIq The original owner noted it as AU but I don't think it's got the detail required. It's hard to tell in that picture.
Valued Member
United States
292 Posts
 Posted 01/09/2012  11:21 pm  Show Profile   Bookmark this reply Add ContraJame to your friends list
Classic gold is a bit out of budget and the more I look the more I prefer the way that the silver and copper pieces become more toned with age. I do appreciate most of the artwork on liberty coins including the seated set. Thanks for the input (it led me to realize I'm not big on gold).
Valued Member
United States
292 Posts
 Posted 01/09/2012  11:33 pm  Show Profile   Bookmark this reply Add ContraJame to your friends list
I appreciate you straightening me out on terminology. Pressed at the mint or minted seems much more appropriate.

As a child I ended up with what I consider a basic but classic American kid's coin collection: Wheat Pennies, Kennedy half dollars, Susan B Anthony dollars, and Bicentennial Quarters. I also had my fair share of Canadian current circulation coins and foreign coins worth a penny or two each. The Susan B. always intrigued me because of the reference to space exploration. That may be an avenue to explore. It doesn't mesh well with my interest in the older coins though. You may have just expanded my collection intent. :P
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 Posted 01/09/2012  11:41 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list
I too am not big on gold...I am an old copper lover first and foremost ;-)
Classic gold is a pretty good long term investment, that's why I was suggesting it. Not in everyone's price range though.
swcoin.ecrater.com
Valued Member
United States
292 Posts
 Posted 01/10/2012  12:07 am  Show Profile   Bookmark this reply Add ContraJame to your friends list
I wish I had a better handle on how competitive a local estate auction will be. That's why my safe bet pricing is so low, amida17.

I'm thinking I may set the goal of only collecting the highest quality of each coin and selling or trading off the lower quality as I go. That train of thought should allow me to do some upgrading without heavy investment until I start getting deep into the collection. I'm 95% set on copper and silver only unless something incredible lands in my lap.

Tomorrow night I think I'll reorganize my spreadsheet and do a little more research. Thanks for the input everyone.

James
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United States
23522 Posts
 Posted 01/10/2012  12:25 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list
You immediately show some of the absolute prerequisites of a successful and cautious collector - you're doing your due diligence, thinking about what you're looking for, and actively trying to decide what you want rather than just bouncing around from coin to coin like melike some uninformed newbie.

In truth, unless you find something at this auction that speaks directly to your heart, I suggest you not buy now but spend a little more time figuring out what appeals to you before jumping into the purchasing pool. A great buy of a coin which you don't care for does you no good, unless you're already a successful ebay seller.

You obviously know how to do your homework. Do a little more - refine your interests - and then concentrate on learning about what you like. Knowledge is key in numismatics. You need to understand grading, and that's a whole lot easier when you're concentrating on a few issues. You need to have an awareness of determining cleaning, even in relatively poor photographs if you're going to purchase online. You need to be aware of rarer issues, conditional rarities, and what these things are actually selling for in the real world.

Your first post showed that you have the skills and motivation to do these things. Coin collecting is most definitely not about immediate satisfaction, but more about steadily working towards a goal with patience foremost.

So, SuperDave's Prime Rules of Coin Collecting:

1) Always breathe through your nose. Patience, Grasshopper.

2) If you think it looks too good to be true, you're right.

3) There is no such thing as an unsearched roll.

4) Numismatics is a blatantly-objective, fact-based hobby in which the only right answer is the one which your heart provides you.

5) Learn. Know.
Pillar of the Community
United States
9796 Posts
 Posted 01/10/2012  01:14 am  Show Profile   Bookmark this reply Add westcoin to your friends list
with SuperDave and my own tag line buy the book before the coin!
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector.

See my want page: http://goccf.com/t/140440
Valued Member
Philippines
386 Posts
 Posted 01/10/2012  01:42 am  Show Profile   Bookmark this reply Add Pandesalapi to your friends list

Quote:
...I prefer quality over quantity and have always had an eye for beauty...

I hope you venture to old gold ones, say acquiring once or twice a year
Rest in Peace
United States
9104 Posts
 Posted 01/10/2012  10:07 am  Show Profile   Bookmark this reply Add biggfredd to your friends list
A few observations:
25 ASE scrap at $750
24 Peace $ scrap at $540, a nice 28p retails for $250+
40% silver Ikes scrap at $9 (72s, maybe 74s)
$130 for the gold dime and $650 for the half would be about 80% of melt.

Any prices above would be safe bets.

1953 Proof 238
1955 Proof - box 105
1955 Proof - envelope 144 retails

Just would hate to see you get blindsided when someone starts by bidding $10 on an item you hope to get for $1.50. Coin pricing isn't always as easy as paying some % of book.
Rest in Peace
United States
9104 Posts
 Posted 01/10/2012  10:14 am  Show Profile   Bookmark this reply Add biggfredd to your friends list
The Austrian 4 ducat is a gubmint restrike, made to get around stupid US gold laws before 1975. 80% of melt would be $575.

Of course, let your gut and wallet guide you.
Rest in Peace
United States
9104 Posts
 Posted 01/10/2012  10:25 am  Show Profile   Bookmark this reply Add biggfredd to your friends list
The fat lady Austrian thaler has been dated 1780 since, well, 1780. Silver content over $20, most look brand new.

Old US gold scraps at roughly 80 times face value.

$5-10 on the proof bicentennial 25¢ would be generous, unless they are in PCGS holders.
Valued Member
United States
292 Posts
 Posted 01/10/2012  8:18 pm  Show Profile   Bookmark this reply Add ContraJame to your friends list
@SuperDave: Your advice is likely the best (philosophically) and also the hardest to heed. I will do my best. My grading skills have developed pretty quickly as I've gotten more familiar with the Sheldon Scale. I have yet to touch on any general "signs of cleaning" information so I've added it to my list of homework. My Red Book and my first loupe were ordered towards the end of last week. I can only get better.

@westcoin: My Red Book is coming! My next step may be to check out what my local library has in stock or else I may become a coin literature collector as well as a coin collector.

@Pandesalapi: I'm embarrassed to say I've never been very fond of yellow gold. It'd take a mighty fine specimen to sway me. However, I'm sure once I'm forced to finish sets by purchasing the key date coins my purchases will be spread out to reflect my budget. :P

@biggfredd: Thank you for taking an objective look at my pricing. I'm going to fix what you've pointed out now. A couple points you make that really stuck out. Gold and silver scrap value drives the bottom line of silver and gold coins. I need to repeat this in my head a few times so it sticks. And I had no idea about the Thaler's history. It ended up having pearls around the broach. Too bad on that, but I did enjoy the history. The PR69 bicentennial is indeed slabbed by PCGS. The other two are graded by someone I don't trust.
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