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What Coin Should I Buy As A Starting Collector?

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Casutherland's Avatar
United States
520 Posts
 Posted 12/27/2010  6:40 pm  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
Too late, he has got me hooked on Kennedys lol..although I did find a 1953-D Wheat penny today in some change :)
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vermontensium's Avatar
United States
16679 Posts
 Posted 12/27/2010  6:43 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
Welcome to the CCF! As stated, worry about your investment strategies until you have educated yourself well enough on grading, pricing, etc. I would navigate the CCF, read as many comments and ask as many questions as you may have. Remember, the only dumb question is that which is never asked :-)
Check out the grading forum. You will get a feel as to what most consensus is as to grade of any given coin. Do not rely on the Red Book for accurate market pricing, much of it is supply and demand, especially on the more sought after "Keys". Hang around, there is many years of combined experience here.
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Casutherland's Avatar
United States
520 Posts
 Posted 12/27/2010  7:11 pm  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
I just purchased my Kennedy half dollar folders from 1964-1984 and 1986-2003 :)
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coincollector123's Avatar
United States
850 Posts
 Posted 12/27/2010  8:57 pm  Show Profile   Bookmark this reply Add coincollector123 to your friends list Get a Link to this Reply
Thats great. Hope you find a few banks with halves.
http://coins.about.com/od/coinbuyin...rom_bank.htm
read this article. Halves are not that hard to find. They just take some time and some mileage. I found 80 dollars today but had to drive 20 mile round trip and took about one hour to complete and get to all 7 banks. Look on google maps and make a route that will hit the most banks. after that you want to go the opposite way to visit the other banks on the other side of town.
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coincollector123's Avatar
United States
850 Posts
 Posted 12/27/2010  9:02 pm  Show Profile   Bookmark this reply Add coincollector123 to your friends list Get a Link to this Reply
I try to buy as many halves from the bank as my wallet would let me but in theory you are not spending any money. But I would not save a bunch of halves. Keep some of the BU (coins that have original mint luster and little or no scratches on the coin). These are hard to get from rolls but it is possible to get them.
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Casutherland's Avatar
United States
520 Posts
 Posted 12/28/2010  6:37 pm  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
I hit the local coin shop today and they had quite a few Morgan silver dollars BU, but they weren't key dates and they were selling them for grey sheet value. He truly recommended that I start a Morgan silver dollar collection because he thought that it was the most rewarding.
Valued Member
United States
66 Posts
 Posted 12/28/2010  7:19 pm  Show Profile   Bookmark this reply Add justndav1976 to your friends list Get a Link to this Reply
Casutherland- When silver was cheaper in 2009 and 2008 I purchased a lot of Morgans from my local dealer and on ebay. I also put out a lot of ads through various websites and hit the jackpot a few times- people that had Morgans that they just wanted to sell. I have acquired quite a few key dates in Morgans doing this. Problem is now silver is much higher than it has been in some time and thus the prices on Morgans have went up, though the key date ones haven't moved as much. ebay is something you have to be careful with though, as there are a lot of fakes out there that are well done. This is where I advise buying slabbed coins if you are buying a key date from ebay, you never know.

Roll searching is something I do every week. I hit up a couple of my local banks that I have accounts at and buy up rolls of dimes, pennies, quarters, and nickels. Surprisingly I still find quite a few wheats, war nickels/old sharp nickels, silver dimes, and rarely a silver quarter here and there. Quarters (silver ones in my experience anyways) are a lot harder to find in great condition in my area and again I don't hardly ever find a silver quarter.

Another thing- make sure your friends, co workers, and family know you collect coins- sometimes those people have things you may be interested in and will offer their stuff to you to buy or just give them to you. I have a co worker that I have talked about on here before and he has buckets of old silver coinage and a collection that would make most of us faint. I have been able to do trades with him for things I want and he wants, and buy some silver from him all the same.
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United States
66 Posts
 Posted 12/28/2010  7:23 pm  Show Profile   Bookmark this reply Add justndav1976 to your friends list Get a Link to this Reply
Oh and as a side note- I started collecting Kennedy halves as well. I think its a fairly easy set to put together and most you can find from rolls except for the harder dates. I bought a lot of those 64's last year and got great deals on them. Have all the error varieties as well and they can be relatively affordable still to this day. My local coin dealer knows that I collect the Kennedy's and he usually has something nice to show me and I have bought some PF70 silver halves from the hardest years (lowest mintage speaking) and he's given me some nice prices on those coins. I usually walk out of his shop having spent about $150-200 a pop. And I always pick up an ounce of silver- bullion American Silver Eagle. That has paid off too since most of those I bought well under what the current spot price is.
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GR58's Avatar
United States
11951 Posts
 Posted 12/29/2010  12:06 am  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
Just to be accurate ASE are not the same as silver rounds.

Yes ASE are American silver eagles. They are 1 oz. silver coins made by the U.S. mint, to trade
as bullion. They also make proof and burnished versions for collectors. ASE are one dollar coins,but
will trade slightly above silver value.

Silver rounds are made by private mints. Some private mints are more popular than others, like englehard.
In my experience silver rounds trade, buy price at silver melt and sell price will be a little under.
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Casutherland's Avatar
United States
520 Posts
 Posted 12/29/2010  12:44 am  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
Hmm I have heard that buying an ASE each month is a good investment. Thanks for all the info justndav1976 that is good info to know. I only make about 220$ a month right now and I am in college so money is gonna hard to blow right now if you can understand.
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RealPeso's Avatar
United States
426 Posts
 Posted 12/29/2010  01:11 am  Show Profile   Bookmark this reply Add RealPeso to your friends list Get a Link to this Reply
With that kind of budget casutherland, I would save up a good $1000.00 and keep turning it around and around on coin roll hunting on JFK's, with good luck you will start to gather up a good amount of "junk silver" to finance your new hobby. :)
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Casutherland's Avatar
United States
520 Posts
 Posted 12/29/2010  01:50 am  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
See the only problem is that I live in a relatively rich area where there are a lot of wealthy people that collect coins and buy up all the good stuff at the banks :( leaving me sad lol
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