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Looking for some advice on "Re-starting" my collection

 
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New Member
United States
34 Posts
 Posted 07/01/2018  3:11 pm Show Profile   Bookmark this topic Add noblenumismatist to your friends list Get a Link to this Message
Good Afternoon,

I collected coins ever since I was a kid which was only 20ish years ago. I didn't really pay attention to what things were graded at or worth at the time. I got 95% of my collection in digging through my grandparents old "spare change" containers they kept for a very long time. So I had Wheat Pennies from 1909-1958, easily and almost all the Jefferson nickels 1938-1998, etc. Now as a 28 year old, I would like to start collecting a collection to possibly have some worth to it. But I must admit I am very lost its like I am entering a whole new world. I am looking for any advice on how to "start again" as I have no idea what anything I currently own could be graded at some things look very nice to me and others look really rough. So here are some question I specifically have:

1. Do places like Village Coin Shop or Littleton, when they have a coin graded, are they trustworthy? As in if I pay a decent amount of money for an XF Lincoln Wheat will it come XF as in be worth that amount?

2. IF its not professionally graded is it even worth anything? For instance nothing I own is professionally graded.

3. What should I do with my current collection from when I was a kid? I am just assuming it costs a lot to have coins graded so, I doubt the option of getting them all graded is an option.

Any help and any advice in any way is always appreciated.

Thanks,

Brett
Pillar of the Community
United States
1594 Posts
 Posted 07/01/2018  4:56 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
1
Quote:
. Do places like Village Coin Shop or Littleton, when they have a coin graded, are they trustworthy? As in if I pay a decent amount of money for an XF Lincoln Wheat will it come XF as in be worth that amount?


Littleton's will be properly graded but you can get it more cheaply elsewhere. Most other principally mail order companies will be overgraded.


Quote:
2. IF its not professionally graded is it even worth anything? For instance nothing I own is professionally graded.


Coins have value independently of the grading companies but coins worth over about $150 are extremely difficult to sell without slabbing.


Quote:
3. What should I do with my current collection from when I was a kid? I am just assuming it costs a lot to have coins graded so, I doubt the option of getting them all graded is an option.


Anything you want! Expand on it, sell it, or set it aside for a later decision. If you don't have a lot of money in it there's no pressing reason to decide at this time.
Time don't fly, it bounds and leaps.
Bedrock of the Community
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United States
15719 Posts
 Posted 07/01/2018  5:44 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
A type set might be suggested. You will learn a tremendous amount assembling such a set, and it's a set you can update later with different dates.

If a Coin is worth $150 or more, you are better off buying it with NGC or PCGS grading, rather than buying it raw (non-TPG) and having it graded.

If you have questions about a Coin show us photos BEFORE YOU BUY IT and we can offer you honest evaluations for free.

Have fun - if it's not fun, don't do it.
Valued Member
United States
145 Posts
 Posted 07/01/2018  5:57 pm  Show Profile   Bookmark this reply Add DeputyMax to your friends list Get a Link to this Reply
First of all.
I'd say the first thing you need to do is decide your reasons for collecting. Everybody has their own reasons. Some may do it as an investment, hoping for future profit while others, like myself, enjoy owning a piece of history and the search for new specimens.
You may become interested in a certain series or denomination or era ect. The possibilities are endless.
Learn to grade your coins yourself. CCF is a great place to do that and everyone here is so willing and helpful that you can't go wrong here. After you get an idea of a coin's grade and value, then you can decide if it's worth it to have it professionally graded or not.
Don't be afraid to ask questions and most of all....have fun!
I never met a man I didnít like - Will Rogers
I never met a half dollar I didnít like - DeputyMax
New Member
United States
34 Posts
 Posted 07/01/2018  6:33 pm  Show Profile   Bookmark this reply Add noblenumismatist to your friends list Get a Link to this Reply
Thanks for all the great advice! One of my biggest fears is having something already that might be nice or on a higher grade scale but I don't know it and might re-buy it. But I have in the past used Village Coin Shop from New Hampshire but it appears the consensus is they over grade things? I just assumed I could trust them because of their website quoting The current President and owner, Domenic J Mangano, has been associated with the selling and buying of rare U.S. and World Coins since 1983. Don is a life Member of American Numismatic Association (#5600). The Village Coin Shop is also a member of the Professional Coin Grading Service (PCGS) and the National Guaranty Corporation (NGC).And I had never heard anything bad about them before.
New Member
United States
34 Posts
 Posted 07/01/2018  6:35 pm  Show Profile   Bookmark this reply Add noblenumismatist to your friends list Get a Link to this Reply
For an example of my wife just bought this coin recently off etsy for my birthday. It was listed as AU. And here is its picture:
New Member
United States
34 Posts
 Posted 07/01/2018  6:42 pm  Show Profile   Bookmark this reply Add noblenumismatist to your friends list Get a Link to this Reply
Sorry here is the back of the coin:
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United States
688 Posts
 Posted 07/01/2018  6:42 pm  Show Profile   Bookmark this reply Add two_tonevf35 to your friends list Get a Link to this Reply
Sage advice above!

A US Type Set 20th century is how I got back in after getting my Lincoln Cent, Jefferson nickel, Roosie Dimes and Washington quarter Whitmans going again. *Minus the expensive key dates!* During the process I fell in love with the often besmirched Barber coinage.

Fill up those old blue Whitman folders with your Lincolns and Jeffersons. That is so much fun.

Learn how to photograph coins and post here. 15 years ago, it was a major deal to find correct lighting, etc, even for inexpensive coins. Now, cell phone cameras are amazing at getting the job done on detail. hit and miss on color.

**Don't buy anything until you learn to grade. There's just no way around it. I tried to avoid it. You have to learn to grade. There are many great resources for this, and each type of coin has its own quirks with grading. Eventually you will love it, or like boot camp, you won't**

**Learn what cleaned coins look like - many types and forms. You want as "original" surfaces as possible. This takes time, practice and likely finding someone near you who can help, especially at local shows. Your local Brick and Mortar coin shop may have a great person, or a shark. It is so individual. But you can also learn here**

"Buy the book before buying any coins" will save you so much "tuition money," frustration and waste in the long run. Seriously, don't buy anything for a YEAR (for more than $10) - if you can hold yourself back.

Look at every grading thread here in the US and Classical Coin section.

Post some pictures, and have an online book or paper book in hand to grade.

Sorry about the long post and typos!


PCGS submissions 2005-2018. Mailings(21) Orders(43) / 249 coin attempts. 12 Fails(5%) / Member vouchers(19%) Economy(62%) Regular(13%) Free(3%) Express(3%) / Barber 50c (46%) Classic Commemorative (38%) Hawaii(3%) SCD (6%) Other(3%)/ Fails: Cleaned(2) Alt surfaces(1) Scratch(1) Damage(1) "86"(3) 2 Columbian & 1 BTW; Min Grade(2) DNC(2)-Same coin NGC XF40 Barber 50c. Express fees paid by seller (cross guarantee). Kept the coin & later submitted raw: PCGS XF40 [eyeroll] Fails: Econ(8) Regular(2) Express(2)/// Other TPGs: ICG (2011-2018): 35/35 NGC: 0 ANACS: 0
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United States
1159 Posts
 Posted 07/01/2018  11:00 pm  Show Profile   Bookmark this reply Add Kurrency Ken to your friends list Get a Link to this Reply
Go for small size US currency. Great type sets can be made.

KK
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United States
688 Posts
 Posted 07/02/2018  12:47 pm  Show Profile   Bookmark this reply Add two_tonevf35 to your friends list Get a Link to this Reply

Quote:

For an example of my wife just bought this coin recently off etsy for my birthday. It was listed as AU. And here is its picture:


From the pics, it looks like a nice, problem-free (no major scratches, rim bumps, damage, etc), original surfaces (no signs of obvious cleaning) coin.

I don't believe it makes AU, however, more like XF40 - I could see some saying VF35 or XF45. I have no idea on price without looking it up - it is a nice coin and a whole set looking like that will be sweet, but not cheap: the keys and semi-keys in XF are going to be more than chump change.
PCGS submissions 2005-2018. Mailings(21) Orders(43) / 249 coin attempts. 12 Fails(5%) / Member vouchers(19%) Economy(62%) Regular(13%) Free(3%) Express(3%) / Barber 50c (46%) Classic Commemorative (38%) Hawaii(3%) SCD (6%) Other(3%)/ Fails: Cleaned(2) Alt surfaces(1) Scratch(1) Damage(1) "86"(3) 2 Columbian & 1 BTW; Min Grade(2) DNC(2)-Same coin NGC XF40 Barber 50c. Express fees paid by seller (cross guarantee). Kept the coin & later submitted raw: PCGS XF40 [eyeroll] Fails: Econ(8) Regular(2) Express(2)/// Other TPGs: ICG (2011-2018): 35/35 NGC: 0 ANACS: 0
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United States
688 Posts
 Posted 07/02/2018  12:49 pm  Show Profile   Bookmark this reply Add two_tonevf35 to your friends list Get a Link to this Reply
Oops, one last thing on advice, develop a budget and stick with it, just like everything in life. Some folks here have $25 / month budget, and others >$1000. As your tastes change and you may want to sell a coin to upgrade, staying budget neutral keeps the household stable and much happier.
PCGS submissions 2005-2018. Mailings(21) Orders(43) / 249 coin attempts. 12 Fails(5%) / Member vouchers(19%) Economy(62%) Regular(13%) Free(3%) Express(3%) / Barber 50c (46%) Classic Commemorative (38%) Hawaii(3%) SCD (6%) Other(3%)/ Fails: Cleaned(2) Alt surfaces(1) Scratch(1) Damage(1) "86"(3) 2 Columbian & 1 BTW; Min Grade(2) DNC(2)-Same coin NGC XF40 Barber 50c. Express fees paid by seller (cross guarantee). Kept the coin & later submitted raw: PCGS XF40 [eyeroll] Fails: Econ(8) Regular(2) Express(2)/// Other TPGs: ICG (2011-2018): 35/35 NGC: 0 ANACS: 0
Bedrock of the Community
United States
16924 Posts
 Posted 07/03/2018  09:31 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

1. Purchase a copy of the Red Book by Whitman Publishing.
2. Attempt to NOT put coins in those things called Foldes. Preferably use Albums.
3. Collect anything and everything you can afford. Many people get rolls of coins from a bank and look through those.
4. Don't buy from any place on the internet until you really know what your doing.
5. Look up coin shows in your area and go to a few of them if possible.
6. Ask friends, relatives and neighbors it they have any old coins laying around they don't want.
just carl
New Member
United States
48 Posts
 Posted 07/03/2018  10:10 am  Show Profile   Bookmark this reply Add jafo50 to your friends list Get a Link to this Reply
You should consider joining a local coin club if there is one in your area. Check your local library to see if there is a coin club there. You'll be exposed to many different types of collectors who are always willing to give advice. You can usually buy and sell coins at the club if you like.
You should go slowly and educate yourself along the way. If you are interested in a particular coin or series check in with eBay to get a sense of their value.

Most of all have fun.
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United States
5112 Posts
 Posted 07/03/2018  10:13 am  Show Profile   Bookmark this reply Add Finn235 to your friends list Get a Link to this Reply
Also, don't count out non-US coins. US coinage arguably has the biggest market in the world, which means good liquidity, but also steep competition. Ancients are very much growing in popularity, but are mostly quite affordable. My first passion project was a type set of Japanese coins, which I was able to complete about 95% without breaking the bank. You don't yet know your calling, but it doesn't have to be US coinage!

Also, IMO you should keep your childhood collection intact. When I started collecting world coins (I toyed with the idea of assembling a couple dozen post-WWII type sets) I mixed my childhood collection with eBay purchases. When I threw in the towel on that project, I couldn't recall which coins I had for 20+ years, and which ones I bought three years ago.
New Sale! Inexpensive classic Greek silver, over 2,400 years old!

http://goccf.com/t/323297
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United States
509 Posts
 Posted 07/03/2018  3:26 pm  Show Profile   Bookmark this reply Add bd251 to your friends list Get a Link to this Reply
to CCF. You have definitely come to the right place! To your questions:

1. Don't buy a coin unless you have seen the exact coin you will receive. Only buy coins with good eye appeal. You might try to convince yourself "that's a good price for the grade besides that one black spot." Just be patient and wait for a better one. It will come. (this is something I only learned after about a year)

2. Yes. Also, there's no reason to get anything you have graded unless you are going to sell, or question the authenticity of, a "better" coin (1914-D LWC for example)

3. Definitely keep your childhood collection! I have a similar collecting history as you as well as being close in age. When I joined CCF and got serious about collecting, I also wondered how to keep my old collection. While most of it is still in the three-ring binders I used as a kid, I have started transferring some to new, labeled 2x2s and bringing them into my new collection. The ones which are from my "original collection" I mark with an "O" on the back along with other short notes if it was a gift from a specific person or whatever.

Aditional thoughts:
- Don't buy any expensive coins for a while. You will make some mistakes at the beginning (such as buying a cleaned coin). These aren't necessarily bad mistakes if you make them with cheap coins since you will learn from them.
- Don't feel like you have to "follow the albums" or put together complete sets. Make up your own collections and "sets." For example, I have a "tiny silver coins" collection with types from all different countries.
- Finally, to echo Finn, do not feel like you have to limit yourself to US coins. There's a world of coins out there. I went from exclusively US coins to almost exclusively world coins. I only purchased one US coin in the last year! Just browse the world coin forum and see what might pique your interest. Also, a good way to learn world history.

Sorry for the long post, those are just the things I have learned from being in a similar situation.
Pillar of the Community
United States
1159 Posts
 Posted 07/03/2018  3:41 pm  Show Profile   Bookmark this reply Add Kurrency Ken to your friends list Get a Link to this Reply
Additionally learn how to grade the coin series (or currency) you will be collecting and buy the coin (currency) not the slab.

KK
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