| Author |
 Replies: 14 / Views: 1,643 |
|
|
New Member
United States
4 Posts |
Over the last few months I seem to have caught the coin collecting bug. I started off collecting silver eagles and other 100% silver coins such as maple leafs and others. I'm not rich by any means but would like to continue collecting and was wondering if anyone had any advice. I have a budget of around $300 a month. Where do you think that would be best spent? Thanks in advance for any advice and help you can give.
|
|
|
|
Pillar of the Community
United States
3640 Posts |
Start off low then grow. Hey, I'm a poet and don't know it  Pick up your face value coins first and start a folder. I.E.: lincolns, buffaloes, jeffersons if you like also as well as cherrypick some roo's and mercs and halfs from bank rolls. You can do an Ike collection also (most of them) at face value. Then branch off from there where you like. You can always upgrade the coins you have with better ones as you find them. You can do quite well with $300.00 a month and would have a great collection pretty quickly. |
|
Bedrock of the Community
United States
36770 Posts |
Before jumping in, gain as much knowledge as you can. Read, read, read. Just the fact that you are here is a good sign. Reading and asking questions of others can help guide you from making mistakes that they have made in the past. You could probably start with a coin series with low down side risk, those that you can get at or close to face value. State Quarters, Jefferson nickels, or Kennedy halves might be something to consider. Get some cheapie albums and plug holes from rolls of coins you pick up at the bank. As you gain knowledge you can branch out to other areas with more expensive coins or upgrade what you have to uncirculated examples. |
|
New Member
 United States
4 Posts |
Thanks. I got a copy of the Coin Collectors Survival Manual. I was told it was a good book to start learning. Also checking out the local estate auctions. The coin dealers around here seem rather high.
|
|
Bedrock of the Community
United States
36770 Posts |
Be careful at auctions. Many times items are listed incorrectly and often times people drive the prices up far more than the coins are actually worth.
|
|
Valued Member
South Africa
105 Posts |
now that's a decent budget! With such a budget I would go for quality over quantity.. Have you considered collecting ancient roman or greek coins?
|
|
Bedrock of the Community
United States
20753 Posts |
 1. Send all of that $300 to me and I'll do the buying of coins. Naturally you will not get them but you'll have the knowledge that you helped me. 2. On a serious note, look into buying the Red Book by Whitman Publishing. Great for general information. 3. Keep far, far away from ebay until you really know what your doing 4. Look for coin shops in your area and visit but for now, don't buy until you know what your doing 5. Check out the internet for coin shows in your area. Try going to them and mostly look, look, look 6. Ask friends, neighbors and relatives if they have any coins laying around. |
|
Pillar of the Community
United States
1432 Posts |
Since you already like large round shiny silver you might consider starting a Peace dollar set. 24 coins total and using AU-MS prices from Numismedia, only the 28 & 34-S are over your monthly budget. Shouldn't take you long to complete and while doing so you can think about what set you want to start next. Just a thought.  |
|
Valued Member
Canada
220 Posts |
With that kind of budget, you may want to put together a Mint State 20th Century type set...
|
|
New Member
United States
4 Posts |
Ive decided to work on Franklin Halfs. I have 5 already and filling a book of them seems like a good idea. Is that a good place to start?
|
|
Bedrock of the Community
United States
36770 Posts |
I love Franklins, a very unappreciated series. A circulated set of those will cost you only a small amount above the 90% junk silver price. An MS-65 set is another story.
|
|
Pillar of the Community
Canada
1502 Posts |
It depends on where you are coming from Consider the end game if that matters. Will you be looking to sell in the future for profit or is this a collection you'd like to pass on? Do you expect there would be a time where you'd have to sell the coins fast and unexpectedly? Narrow down your interest Do you prefer one heavy/quality/rare coin or a handful of more common but more diverse coins? Are you interested in a particular time in history, a particular subject matter, country...? Time commitment Are you interested in learning the details about each coin you purchase? Do you have the time to commit to hunting down the coins at auctions and sales? |
|
Pillar of the Community
United States
3283 Posts |
$300 a month is a good chunk of change to build a coin collection. Since you like silver, I think you made an excellent choice with the Franklins, most can be had at melt value but I would suggest paying a little more for each and getting AU or MS coins, you can get very nice one's at a small premium. Most Walking Liberty halves can be had similarly and by that time you'll have more refined taste and experience. Roosevelt dimes followed by Mercury dimes are also popular and fun sets to build. Edited by upstate
06/19/2012 4:55 pm
|
|
Pillar of the Community
United States
1840 Posts |
Quote:
Ive decided to work on Franklin Halfs. I have 5 already and filling a book of them seems like a good idea. Is that a good place to start? Great choice. I started my son collecting these a few years ago. Back then he could buy common date coins at shows for $9-10. These coins contain a fair amount of silver and are readily available in high grades for modest prices. Even the key dates can are relatively inexpensive. Also, The coins are big enough that learning to grade will be easy. |
|
Pillar of the Community
United States
863 Posts |
start your coin collection with your very own coins that you already own. thats what I did and got pretty lucky. I found a silver dime, a proof dime, a few wheaties, a Buffalo nickel, and a War Nickel. at the same time I pulled out all of the pre 1982 pennies and started a copper hoard. |
| |
Replies: 14 / Views: 1,643 |
|
Posted 06/19/2012 09:58 am
