I am a novice collector myself. I was able to learn a thing or two in this thread. I definetly need to learn to grade coins for myself as the holes I need to fill are getting to be quite expensive.
Coingeezer: I think my challenge with buying what you can afford is it's unclear where to draw the line.
Taking the old adage literally, my collection would have one single coin -- maybe an MS68 top grade key date -- and I'd be eating dog food. Should we all move into mom's basement?
I have a better idea: keep a modest coin budget and strike a balance between quantity and quality. This is advice we can all agree on, isn't it?
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