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 Replies: 21 / Views: 4,066 |
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Pillar of the Community
United States
1081 Posts |
I would probably keep what I had and stop buying for a while. I've found roll hunting is fun and you can find some cool coins if you know what to look for, plus it's nearly free. I'm not sure how experienced you are at pricing and such, but one piece of advice is to never buy those gold plated bars again. IMO, they are just a waste of money with no real gold content to speak of. (there may be a few bucks of gold, that's it. On a side note, I've never really determined what a "mil" is. Some say it's a measure of thickness, others, weight) They are not silver plated gold, most likely copper plated gold. You do have the start to a nice collection, but I also agree with the others that it seems you over paid for what you purchased.
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New Member
 United States
5 Posts |
Everything was bought individually. The biggest spending was the $2 note at $95, the 1882 Morgan UNC @ $85, the 1889 Morgan UNC @ $100, the 58 Half Dollar Proof $95, then the sitting, etc. The 1958 Half Dollar Proof is interesting, as I was tipped by a dealer to buy this. Of the Franklin halves, only 875,652 were minted. They are valued around $95 for high graded, but that is low compared to the other Franklin low minted Proofs which bring in well over a thousand. I find all of this coin collecting very interesting. VERY. And fun too. I just need to get the down payment for our house and I'd hate to be a few hundred short. I am having fun just looking at the coins. |
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Valued Member
United States
287 Posts |
Not to throw gas on the fire, but the 10 gram gold clad bar and the 1 ounce 100mills gold bar are both "trick" bars to get people to buy something that seems like an investment, but is really just some base metal with a tiny electroplating of precious metal. Hence the "clad" and "mills", both references to plating. Any chance you can return them? Sorry, but you asked.
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New Member
United States
5 Posts |
Quote:
Not to throw gas on the fire, but the 10 gram gold clad bar and the 1 ounce 100mills gold bar are both "trick" bars to get people to buy something that seems like an investment, but is really just some base metal with a tiny electroplating of precious metal. Hence the "clad" and "mills", both references to plating. Any chance you can return them? Sorry, but you asked.
The clad stuff I got pretty cheap (a couple buck w/ free shipping). You're right, originally I was fooled. I thought I was getting some good metal. but after a bit of research I learned what they really are. |
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Pillar of the Community
United States
3345 Posts |
The uncirculated 1889 is not worth $100, and according to the RedBook (I know, I know, not to be used for prices) the proof franklin is worth around $50 in pr65. |
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New Member
United States
5 Posts |
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Moderator
 United States
16679 Posts |
Get the house first then buy coins. I would just hold on to them for now. The PM's will go higher with all this raising the debt ceiling nonsense.
swcoin.ecrater.com
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Bedrock of the Community
United States
14454 Posts |
those 100mil bars are not worth allot I don't know what you paid for them but I am really having problems finding anywhere near the value you paid to justify selling them now because you would lose so much money
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Pillar of the Community
United States
1817 Posts |
I agree with Vermontensium, get the house first, then dabble in the hobby. With this hobby it's very easy to get carried away, almost all newbies start off with an OCD method of collecting, since it's all new and every sale is exciting. There's nothing wrong with buying a little of this, a little of that, provided if you can get a lot of coin for a modest outlay of cash in the region of $100-$200, so you can get a feel for what appeals to you. $650 is serious money to throw at coins and see what sticks, and if I did that, you can bet my mrs. would be seriously mad. She can and has put me on a coin budget, which meant focusing on the coins I really want and ignoring the rest, however wondrous and tempting they are.
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Pillar of the Community
United States
716 Posts |
There is an unwritten rule for new coin collectors, 'buy the book before the coin'. I know it is a little late to be telling you this but it is good advice for future reference if you decide to continue coin collecting. It seems to me that you jumped in with both feet, bought a little bit of everything and got burnt. Take some time to research your hobby, set some goals and go slowly.
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Pillar of the Community
United States
651 Posts |
to further your education consider joining a local coin club as well. If you consider collecting something, try to focus on an area of interest. Focusing makes things easier on collecting and the pocketbook. It's easy to get distracted and buy anything and everything. I've been there.
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Valued Member
United States
111 Posts |
I saw this post and I had to post. I too am new and have also have quite the collection. I agree with another's post about roll searching. Which I'm doing, and have finally decided on concentrating on collecting pennies, each year commemorative, and the National Park quarters with my grand daughter. I too have spent a lot of money recently. This collecting is very addicting. And doing it late in life I felt I had to get it all...  Get that house bought first. Then regroup and figure out what it is you'd like to have. Good Luck!  |
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New Member
United States
43 Posts |
I think I would try and trade the wife for more coins! Then you could look for a smaller house and spend more money on more coins!!  Well in all seriousness what ever you end up doing definitely stay away from the plated bars no investment benefits in those at all. |
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Valued Member
United States
321 Posts |
Keep all of these coins and give them to your kids. That's better.
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Valued Member
United States
187 Posts |
I'm new to collecting myself,and I agree with you that it's easyu to go overboard,but as suggested roll searching is fun and very very inexpensive
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Replies: 21 / Views: 4,066 |
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First Page
Posted 07/10/2011 10:52 pm
