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 Replies: 16 / Views: 2,379 |
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Valued Member
United States
292 Posts |
Good evening CCF. As the title states I've recently decided to jump back into a childhood hobby. It was easy as a kid to decide on what to collect and what to spend; Grandpa had the money and Grandpa said yes to what he thought I should collect. Fast forward 15 years and now I need to be answering those questions which is why I'm here. I've always preferred antique American coins. There is nothing that compares to holding the weight of a piece of metal and then reflecting on the artwork physically stamped into that piece of metal. And being American I'm sure you can fill in the other blanks. However, I can't decide where I want to start. I prefer quality over quantity and have always had an eye for beauty. I have decided that I don't want to spend more than $50-$100 per month on coins. I'd prefer sticking to coins that will increase in value over time (who doesn't prefer that, right?). What are your opinions on some good antique American coins I would enjoy? On another note, I need some advice (this is actually how I found CCF and why I originally came here). On 1/14 I'll be attending a local estate auction with a fairly large coin collection up for grabs (I'm guessing that it'd book for around $25,000). The auction company posted okay pictures for most of the coins which I went through identifying. I also either used the suggested grade or, if I questioned their grade, gave it a grade I thought to be more accurate. What was suggested to me was that I share the spreadsheet I've created with you kind people and get some advice. The spreadsheet contains date, mint, identification, grade (not guaranteed to be accurate by any means, though some were graded by ANACS) and three price points that I've determined; book value, market value (based on similar grade coins from ebay auctions sold), and a safe bet value which I'd be willing to pay at this auction. It roughly breaks down as to be that the ebay value is 50% of book value and my safe bet value is 50% of the ebay value. There are some that are more conservative, especially on things like gold coins where my budget will come into play. I'm also not opposed to flipping coins on ebay for profit; that just gives me more money for the next coin to add to my collection. So, would any of you be interested in reviewing my appraisal and giving advice on things like what coins I should focus on, what pricing I've erroneously implied, or any other general advice? In the spreadsheet linked below I've made the file editable by anyone so if you'd prefer making notes inside the spreadsheet feel free (it's a copy of my original so I'll have something to reference later on). https://docs.google.com/spreadsheet...UVlNpdFVTSWcThank you so much for your time and expertise. James from Missouri |
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Pillar of the Community
United States
4897 Posts |
Personally I would go after the Half Cents and Bust Halves...and maybe the Lafayette.....just my preferences... |
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Pillar of the Community
United States
4897 Posts |
Oh and the 20c! I think your bids will need to be closer to what you call "market"
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Moderator
 United States
16677 Posts |
I would get your hands on some early copper and Seated coins :-) Classic gold is always a good choice. swcoin.ecrater.com
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Pillar of the Community
Canada
3692 Posts |
You might get some snobs on here that say that coins aren't stamped, they're minted. A stamp would be a more hollowed out object with the back and the front being opposites. They are instead the result of two dies pressed against each other onto a blank with great force, and not a "cookie cut-out" action that shapes and cuts at the same time.
:)
I would begin with a question to you. What did you collect as a kid, and what appeals to you? "Beauty is in the eye of the beholder." Take it as far as you can go without breaking the bank. Do what feels comfortable. I know this sounds like generally lazy advice but it's what really works. No one can tell you what to collect - that's the beauty of this hobby. You can with trends or you can go with whatever else in the world. It's really up to you!
Have fun! And don't forget to post lots of pictures here, we are photo hounds!
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Valued Member
 United States
292 Posts |
The Lafayette actually caught my eye as well. The history on that coin is quite good as far as I can tell and would most likely lead to more research. Here's a copy of the coin being auctioned if you're interested: http://imgur.com/lXcIq The original owner noted it as AU but I don't think it's got the detail required. It's hard to tell in that picture. |
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Valued Member
United States
292 Posts |
Classic gold is a bit out of budget and the more I look the more I prefer the way that the silver and copper pieces become more toned with age. I do appreciate most of the artwork on liberty coins including the seated set. Thanks for the input (it led me to realize I'm not big on gold).
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Valued Member
United States
292 Posts |
I appreciate you straightening me out on terminology. Pressed at the mint or minted seems much more appropriate. As a child I ended up with what I consider a basic but classic American kid's coin collection: Wheat Pennies, Kennedy half dollars, Susan B Anthony dollars, and Bicentennial Quarters. I also had my fair share of Canadian current circulation coins and foreign coins worth a penny or two each. The Susan B. always intrigued me because of the reference to space exploration. That may be an avenue to explore. It doesn't mesh well with my interest in the older coins though. You may have just expanded my collection intent. :P |
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Moderator
United States
16677 Posts |
I too am not big on gold...I am an old copper lover first and foremost ;-)
Classic gold is a pretty good long term investment, that's why I was suggesting it. Not in everyone's price range though.
swcoin.ecrater.com
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Valued Member
United States
292 Posts |
I wish I had a better handle on how competitive a local estate auction will be. That's why my safe bet pricing is so low, amida17.
I'm thinking I may set the goal of only collecting the highest quality of each coin and selling or trading off the lower quality as I go. That train of thought should allow me to do some upgrading without heavy investment until I start getting deep into the collection. I'm 95% set on copper and silver only unless something incredible lands in my lap.
Tomorrow night I think I'll reorganize my spreadsheet and do a little more research. Thanks for the input everyone.
James
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Moderator
United States
23522 Posts |
You immediately show some of the absolute prerequisites of a successful and cautious collector - you're doing your due diligence, thinking about what you're looking for, and actively trying to decide what you want rather than just bouncing around from coin to coin like melike some uninformed newbie. In truth, unless you find something at this auction that speaks directly to your heart, I suggest you not buy now but spend a little more time figuring out what appeals to you before jumping into the purchasing pool. A great buy of a coin which you don't care for does you no good, unless you're already a successful ebay seller. You obviously know how to do your homework. Do a little more - refine your interests - and then concentrate on learning about what you like. Knowledge is key in numismatics. You need to understand grading, and that's a whole lot easier when you're concentrating on a few issues. You need to have an awareness of determining cleaning, even in relatively poor photographs if you're going to purchase online. You need to be aware of rarer issues, conditional rarities, and what these things are actually selling for in the real world. Your first post showed that you have the skills and motivation to do these things. Coin collecting is most definitely not about immediate satisfaction, but more about steadily working towards a goal with patience foremost. So, SuperDave's Prime Rules of Coin Collecting: 1) Always breathe through your nose. Patience, Grasshopper. 2) If you think it looks too good to be true, you're right. 3) There is no such thing as an unsearched roll. 4) Numismatics is a blatantly-objective, fact-based hobby in which the only right answer is the one which your heart provides you. 5) Learn. Know. |
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Pillar of the Community
United States
9792 Posts |
 with SuperDave and my own tag line buy the book before the coin! "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Valued Member
Philippines
386 Posts |
Quote:
...I prefer quality over quantity and have always had an eye for beauty... I hope you venture to old gold ones, say acquiring once or twice a year  |
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Rest in Peace
United States
9104 Posts |
A few observations: 25 ASE scrap at $750 24 Peace $ scrap at $540, a nice 28p retails for $250+ 40% silver Ikes scrap at $9 (72s, maybe 74s) $130 for the gold dime and $650 for the half would be about 80% of melt. Any prices above would be safe bets. 1953 Proof 238 1955 Proof - box 105 1955 Proof - envelope 144 retails Just would hate to see you get blindsided when someone starts by bidding $10 on an item you hope to get for $1.50. Coin pricing isn't always as easy as paying some % of book. |
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Rest in Peace
United States
9104 Posts |
The Austrian 4 ducat is a gubmint restrike, made to get around stupid US gold laws before 1975. 80% of melt would be $575.
Of course, let your gut and wallet guide you.
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Rest in Peace
United States
9104 Posts |
The fat lady Austrian thaler has been dated 1780 since, well, 1780. Silver content over $20, most look brand new.
Old US gold scraps at roughly 80 times face value.
$5-10 on the proof bicentennial 25¢ would be generous, unless they are in PCGS holders.
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Replies: 16 / Views: 2,379 |
Posted 01/09/2012 11:02 pm
