Before I Begin Spending Money.

Just other tidbit about ebay, the inventory of the big shops on there is not always the same on ebay as it is their normal website. LC Coins for example has different things listed on the two sites while others may have the same things listed just waiting to see where itll sell first. In such cases their real website can sometimes be cheaper than the ebay listing without the added fees

Where to buy your coins is one of those timeless questions that everyone faces irregardless of your experience level. The first thing you must realize that there really is no safe place for a novice to buy coins at a fair price. THere are good and bad in ebay, coin shops and coin shops. All sellers have to seek a profit and will prey on the unknowledgable novice. Your best method of prevention is to arm yourself with knowledge. Buy a Red Book and read up on the series you want to collect. Look as thouands of coins online and in person before you spend any money. Knowledge is the best way to defend yourself from those looking to take advantage of your inexperience. There are swindlers at all points of sale ..never forget this.

Oh ..sorry I thought you were investing in coins but now I see you just want a set of State Quarters for bragging rights. From the get go you must realized that it costs more to slab a State Quarter than the coin is actually worth so right off the bat, you will over pay for a slabbed set. Realizing this ..buy at will where ever you find the cheapest with the number on the paper in the plastic you want. These won't appreciate much at all ..so all that you are paying for is the "my sets better than your set" aura of superiority.

Andrew289;

Mint state states quarters do not exist in MS-70 though there are a few in MS-69. If you ever looked at an MS-69 you'd see a few things. First off you'd see it was far nicer than any states coin you've ever seen before. Second you'd quickly come to find that there are not a lot of MS-68's either. Several of the things you said simply are not true. Most importantly though is the implication that the coins have no value and nowhere is this more wrong than at the MS-66 and 67 level. These coins in slabs often sell for only a few dollars which is a fraction of the grading charge. They are "mistakes", people believed they would grade higher but they didn't so they sell on the market. Since demand is weak they are less than grading fees yet will generally at least be choice for their grade. The highest grade states coin bring a lot of money but compared to the population they could be the biggest bargains out there.

People have the idea that modern coins are cheap because they are common but nothing could be further from the truth. There are hundreds of US a world coins that I've sought for 36 years now and have been unable to find. Some of these coins have gone straight through the roof in the last few years because others are now seeking them as well. Sure, something like a "common" 1950-E E German 10p now lists for $1300 instead of 50c but there are still a lot of 50c coins out there that can't be found. In my opinion some of the best bargains are US coins and the pricing structure will have to change when people start collecting these someday.

I agree with you that investing in coins is a losing proposition. I believe this appliers to all coins. Collectors almost always do better because they learn more and have fun doing it. It's knowledge that is more likely to lead to profit and enjoyment. I also agree that someone should know what he's doing before spending a lot of money on something he doesn't understand.

Some ebay prices will be a tick high just because sellers lose 10-15% in ebay and paypal fees. That said I dunno about the Red Book prices and how accurate they are. I generally use http://www.numismedia.com/fmv/fmv.shtml and completed ebay listings because ebay actually shows what people are currently paying. Price guide can list FMVs all day long but is people arent paying it they arent paying it.

Like carl said dont trust coin shops just because they say something. A lot of people say theyre the better place to go, and they may have great shops in their area, but that doesn't mean the shops around you will be great. Just because you own a store doesn't make you any better at anything or any more honest. At least with the internet you can price search when you find something and get an idea or research where in a shop youre kind of hung out to dry.

Its an unfortunate reality but theres bad sellers everywhere, online, in person, at coin shows. It just comes with the territory. My local shops are over priced, so I do most of my dealings online and ebay in particular. Through ebay sales I've managed to build a relationship with a dealer in wyoming and one in fla who deal in different collections I'm working on and now when I see things I like they have I can get their off ebay prices and just deal directly with them or just ask them if they have something.

A lot of it is a lot like buying a used car. No matter where you get it from the trick is to find the honest seller that isn't just blowing smoke up youre you know what

I just bought the Red Book edition of this year, and it has really helped me out as a beginner with understanding all the types of coins available.

I just have to add my opinion here, and without the intention of being offensive. Andrew289, you have some good advice, but I don't want the newbies to be jaded against all coin dealers and sellers. Yes, I have met some disrebutable coin dealers. We learn by our mistakes, no way around that one. So, newbies beware; be cautious. Still, I currently deal with a group of honest and helpful people in my local coin shop. They sell me coins at fair prices; never impose their likes on me, though they will advise/comment when I push them to do so; buy back anything they sell me; and they are a great resource. And I think that buying graded coins is a good strategy for those of us who cannot evaluate coins as well as the graders. And, in any case, PCGS- and NGC-graded coins have a standard market value that is good for both buyers and seller, and they offer protection against purchasing fraudulent coins.

I'm not familiar with Collector's Alliance, so I don't know what to tell you there.

ebay is something to be careful with. Occasional attractively priced "good deals" can be found but at the same time, horror stories abound and
conspicuous scammers are not uncommon. Caution is required. Spend enough time reading through threads here and you'll find many such stories.

I've made a number of satisfactory ebay purchases but when shopping there, I consider caution to be the order of the day.