Post Advice For New Collectors

Hello,

Don't be afraid to ask questions on this site, rely on your fellow collector's knowledge and learn from them. I agree buy the book and read. Personally I only read the part(s) of the book that I need at first and then go back and read the stuff I find "boring" or "uninteresting" because then at least I'll have that knowledge and can re-read it later if needed.

Take your time. I have only been a collector for a little over a year and everyday feels like I'm starting over. Sometimes that feeling is frustrating and others it is a really nice feeling. Subscribe to a Numismatic magazine if you can. I get Coin World and Coin Values and I love them both. Coin Values is where I read an article about collecting American Silver Eagle Proofs and now I'm just looking for a good book on those coins.

Again, visit CCF often and ASK ASK ASK! The only "dumb" question is the one not asked.

Rich

I think that is a good idea Carl. Some new comers will still ask before reading, and posts can get old in separate forum, but at a slower rate. Might be especially helpful to those posts titled " inherited a Coin Collection".

That is probably the most important piece of advice posted here.

-Get a theme going and a handle on fair prices.
-Do what pleases you.
-Learn to handle and store your coins properly.
-Keep on learning.

From my experience, I will offer 2 pieces of contrary advice to the conventional wisdom. First, people say buy the best you can afford. While this is generally good advice, there are times where it makes sense to buy a cheaper alternative or wait until you can afford to spend a little bit more and buy an even better grade. The way the pricing is set up for some coins, a vg might cost $30 and a F might cost $90 but then a VF would cost $105. In my opinion it's better to either buy a VG or wait until you can afford a VF. look at the jump in prices of the next few grades up.

Second, the conventional wisdom is buy the keys first. I would argue it's best to wait to buy the keys after you have read the book and have bought most of the common dates. This way, you will gain a feel for how a particular series wears in circulation and gain some insight as to the availability of certain dates in various grades. The goal is to avoid making a costly mistake by buying an overgraded or low-end for the grade coin (even if certified). If you buy the keys first (usually the most expensive) before acquiring proper grading skills and knowledge, you might end up regretting it.

I am older and I too make lists and usually forget them when I go to a coin show. Not sure how many times I've said I wonder if that is on my list? Some lists I never find. Some I find in the washing machine.
Still a good idea.
Regardless of the advise, suggestions, ideas, buy the best, buy a book first, etc., etc.
The best advise I find is to remember this is a hobby and should be fun. So no matter what you do, do what makes you happy. Life is really to short for anything else.

Don't forget roll searching. For instance,if you want to collect Lincoln cents,don't go out and start paying big dollars for Lincoln cents,roll search. Roll searching has really helped me learn to see subtle difference in coins quickly. Also,there are still quite a few good quality coins to be had at face value. I have many LMC's that are 50 years old and more and still grade out MS 63 or better. Just keep looking and observing.