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 Replies: 22 / Views: 3,235 |
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Moderator
 United States
23522 Posts |
Quote:
I did not expect to find anyone younger than me in this hobby, I just turned 28 a couple of months ago. You watch video of auctions and it's mostly shades of grey on show.
Coin Community's mission is to cater to the new collector and Young Numismatists (YN's). The last time someone did a poll on the subject (it's in the Family Topics Forum), fully a third of the respondents were under the age of 25. That is why we enforce a strict "G" rating on forum intercourse - we have many members who are only visiting under parental supervision. |
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Bedrock of the Community
United States
20753 Posts |
 Stop for now attempting to purchase coins. Instead look around for a place to buy books on coins. Here in the USA we have many books on coins. One most used is called the Red Book. You should have a book or a few showing all the different possibilities of coins available. Don't start looking for coins where you will never finish a series. Makes it all a bit depressing. Go to a regular type store for a few magnifying glasses. Don't waste money on all types of expensive ones. You just need a few to see details, not examine the dirt on them. Don't bother with coin cleaning materials. Sort of a bad thing in the coin collecting or any antique collecting world. Being new, keep far, far away from ebay. Actually try to keep far away from most on line dealers if possible. Look around for possible coin shows in your area. Also, check for coin clubs. If you have any coin shops or antique shops, go there and look, look, look. Get to know prices. Remember purchasing from on line anything makes it all a chance you'll get what you really want for a price that is correct. Really difficult to know what is what when buying something you really don't see in person. Make sure you have items like 2x2's, other size flips, plastic rolls, Albums not Folders, for you coins. Keep in touch with members here and as you acquire more posts and replys, you might start dealing with members. |
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Valued Member
 United Kingdom
287 Posts |
Just to say thanks, I have managed to get a Christmas list out to Santa thanks to the recommendations from this and my other thread.
Outcome for the 2 1937 sovereigns, I caved and sold them for £769. Kept the rest for now
Thanks aswel for advice given, it is all taken on board :)
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Valued Member
United Kingdom
287 Posts |
Also Dave, took on board what you said about buyer should know the origin of coins (being in jewelry) so I sold them in the earrings they came in. They were very nice coins, I half regret selling them, but I kind of needed to know I didn't make a big mistake with the purch ASE |
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Pillar of the Community
United States
655 Posts |
just carl is right, books are the first essential. Remember knowledge = power.
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Pillar of the Community
United Kingdom
856 Posts |
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I am aiming at collecting mainly where I see a potential investment, whether it be spending £1 on coins worth £3, Sets that I get for £50 that are worth £60, £20 coins for £20 thinking they may increase in value, or 'gambling' on big 'unsearched' bundles. OK, OK. Time for some bubble bursting I think Mash. You need to make a decision. Clearly, as SsDd has observed, you've an eye for business. And it sounds as if you are having fun buying and selling coins. But ... Quote:
My aim is to build up a nice collection to pass down to my little one, .. um, no. So far what you have is an accumulation. And if you carry on, you will pass on a 100kg bundle of coins worth £000s. But only if they are sorted and marketed and sold. That's not a collection IMHO. A collection has a structure. It's nice to look at. And the collector learns as they assemble it. Plans. Chooses one coin over another. Yes, with time and a bit of luck it will be worth more in a few years time. But partly because it is a collection. More than the sum of its parts. Now there is nothing wrong with making money! Go for it if you have a knack! But in that case, pass on the money to the little one so s/he can buy something s/he likes! If you want to pass on a collection then you need to pass on the enthusiasm, the knowledge, the interest and passion. Only then will the collection be valued over the asset. What do you think of this? http://www.coinsofbritain.co.uk/adm...N%201891.jpgNice? Not nice? Personally I would rather have a coin like this (and no, it certainly isn't perfect) than a new £20 or 8kg mixed. Or this, one of mine:  Not bad for nearly 370 years old, eh? And possibly less than 14kg of oddities ... the choice is yours. A book on grading coins: http://www.amazon.com/gp/product/09...N=0948964839And a coin guide that might interest too: http://www.amazon.com/Collectors-Co...oins+gb unless you want hammered coinage too, in which case Spink is best.  |
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Moderator
United States
23522 Posts |
Quote:
Also Dave, took on board what you said about buyer should know the origin of coins (being in jewelry) so I sold them in the earrings they came in.
You get it. I couldn't be happier to hear this. |
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Pillar of the Community
United Kingdom
856 Posts |
Oh, and a book for valuing coins? Doesn't exist. Well, OK, it does exist. But by the time it hits the bookshops the prices will be out of date. Plus one coin that looks very much like another can, because of date, design or metal be worth a fraction or 100 times as much. And most coin guides give a general price for the most commonly encountered in average conditions.
The best way to value a coin I'm afraid is to see lots of the things in different grades (condition) and learn which have been cleaned, which have been played with to look more colourful and which are better than average examples of the type. Which are the EF the seller says, which are really only gVF (or just F!) and which might actually be heading towards Unc.
And while some of that can come from books, a lot of it has to be learned by looking and comparing notes with other collectors in places like this.
Have I been too harsh? I hope not. Just trying to avoid you looking at some piles of coins a few years down the line and wondering "Why did I buy those"? (Though to be honest we all do that! But it's better to do it to a lesser than greater extent!)
Good luck!
Edited by Tom Goodheart
11/28/2013 3:47 pm
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Valued Member
United Kingdom
287 Posts |
Hi Tom
Thanks for your messages.
No, I definitely don't feel you are being too harsh. I think we call it here 'constructive criticism' :)
I am still finding my feet, trying to build my knowledge, trying to see what I find interesting etc.
both the coins that you showed are nice, and I think my intention is to end up with a nice collection of interesting and expensive (organised) coin collection.
But the way I plan to do so is to start of with 'playing around' with the basic coins, earning the knowledge from these, and earning the more worth while coins rather than just throwing money at them. I don't intend to have many of the coins I have now in 20 years time when I pass on to my little one. (who is 1 at the moment... and already excitedly saying 'dadas coins' :)
If I tackle it right, and put the effort in, I will only have about £1000 invested in the coins, but, I will have at least 50x more than that in coins value to pass on to him for him to sell, keep for financial back up, or even continue on the collecting venture.
Please note, none of the above dis-agrees with any of what you are saying. I could give you a response to each line, but I think this should wait, until I have got my basic experience from the books, playing with the basic coins, finding my feet and strengthening solidifying my aims/ intentions.
I would like to stay in touch if possible, I can learn a lot from you.
I appreciate your views and comments
Thanks
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Pillar of the Community
United Kingdom
856 Posts |
No problem. And returning to the original post, you might want to consider a set of digital scales? Nothing too expensive is needed. Ones that claim accuracy to 0.01g will generally suffice. The 0.001g prices are much higher. A set can be picked up on ebay or Amazon for under a tenner and will warn you about the worst fakes. Though hopefully you won't encounter any of those, it's worth remembering that there are (often scarily good) modern copies of some coins about. Again people here can help advise if you're in doubt. A couple of books, a lens and set of scales should see you through the first stage. Add a pack of acid-free coin envelopes or self-adhesive 2"x2" flips to store the nicer finds in and you're away! |
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Valued Member
United Kingdom
287 Posts |
Thanks Tom As for the weight of coins, is the internet the best place to learn this? or do one of the books have this information? On another note, what's your first impressions on this coin?   |
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Pillar of the Community
United Kingdom
856 Posts |
Quote:
Thanks Tom
As for the weight of coins, is the internet the best place to learn this? or do one of the books have this information?
On another note, what's your first impressions on this coin? You can get details from the internet. Wikipedia for example. However I have an old copy of Coincraft's Standard Catalogue of English and UK Coins, 1066 to Date. It lists coins by denomination and also sizes, metal and weights. Very handy ..and if you're not getting it for the prices you can pick up a copy for a few quid on Amazon. The coin. First impression is Gosh That is Very Shiny I'm afraid. I'm not very knowledgeable about milled coinage but my first guess would be harshly cleaned (polished) or silver plated. Well worn too, from the lack of detail on the medal, ear and other highlights. It's ok for silver candlesticks or teapots to look like that, but coins? No. Hopefully someone else will offer an opinion too though. Edited by Tom Goodheart
11/30/2013 06:28 am
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Pillar of the Community
United Kingdom
2896 Posts |
Yes, I'm afraid this coin has been harshly cleaned - the original surfaces have gone.
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Valued Member
United Kingdom
287 Posts |
It rung alarm bells to me too, thanks for your opinions
I turned this down once I seen these pics, originally advertised as EF- UNC.
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Pillar of the Community
United States
3486 Posts |
The distinction between a collection and an accumulation is an important concept
to learn and to understand. If I had a grandchild I would rather leave a dozen
coins worth a total of 1000 dollars/pounds than 1000 coins worth not much at all.
Definitely constructive criticism and in no way meant to discourage you. We all just want to make subtle adjustments to your course as you float along the coin river.
Give the common coins to the child to play with and to teach the lesson that grandfather likes to play with coins. Time spent together with the child is more important than the coins. THAT is a lesson you MUST learn.
Everything else is secondary.
Parents, grandparents, can I hear an "AMEN?"
Edited by matthewvincent
12/02/2013 4:11 pm
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Replies: 22 / Views: 3,235 |
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Posted 11/22/2013 10:32 am
