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 Replies: 13 / Views: 1,647 |
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Pillar of the Community
United States
784 Posts |
First post! Thanks for having me everyone, I hope to be a regular contributor here. I got my love for collecting pennies from my grandpa when I was a little kid. We would road trip to their house in the early 80's and one of my favorite things to do was get the huge Deep Rock jug that was three quarters full of old pennies and just pour them all out on the floor and me and my grandpa would try and find dates to put in his old whitman folder. I never really stopped liking coins as I grew older, it just wasn't a priority for such a long long time and when my grandpa died ten years ago, I found myself digging up that old book of his and deciding I was going to finish it up for him and in the process I decided I also wanted to start a new book for me and my kids to pass onto them. The only difference is that I really want to go BU as much as possible but I have a few questions. So enough about me (thanks for reading) and onto the main event... Proofs - I have noticed on ebay in particular that most proof cents seem to be cheaper than regular BU strikes. Is there any reason for this and should my expectation be to spend less on them and down to what date? It seems like getting into the 50's and lower starts to jump up. Storage - I wondered if the Dansco deluxe albums are a safe bet for trying to keep a nicer set? Do I need to worry about damaging the 'red-ness' of the coins? If I'm going to start spending a bit of money I want to make sure I store them correctly. Level of BU - I've noticed this on ebay a lot. A seller will offer up a nice shiny Wheat penny and call it choice or GEM but in the description, he or she will say, 'not suitable for grading, but a great cent for an album' or something along those lines. Why? Is there a rule of thumb to grading and what kind of conditions should be graded or not? Grading - How do you grade a penny that is a few grades different from the front to the back? I just purchased a 1909 s and the back is in great shape, full wheat ears, etc... but the front is more worn. I'd say it's Fine on the front and XF on the back. Does that average it out to VF for the coin as a whole or do you grade on lowest side? I will probably come up with a ton more questions and I am really eager to learn from you all so thanks in advance for your responses! |
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Pillar of the Community
United States
655 Posts |
 Going through a jar full of cents as a kid can be a lot of fun. It's a great feeling, finding a coin that's missing from the folder. For starters, if you don't already have one, pick up a copy of the Red Book. It can answer a lot of you questions. Your question regarding a F/XF coin is a good one. I've always used the lower grade. |
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Bedrock of the Community
Canada
10743 Posts |
To CCF, rking007, enjoy your stay with us, ask lots of questions and, there will be someone along quick enough to give you answers.  |
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Valued Member
United States
79 Posts |
I certainly would not store BU and Proof pennies in a whitman folder. Even if you use gloves to insert the coins and never touch the surface, they will be exposed to air constantly and will tarnish substantially over time. I've never used a Dansco album, but If I am correct, they have a plastic sheet that covers both the obverse and reverse of the coins. These seem like they would be a safer bet to preserve your uncirculated coins. Just my Two Cents (or one nickel in Canada) |
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Valued Member
United States
131 Posts |
Since I just finished a collection of pennies, I'll give you my Two Cents on it: 1) Most importantly, at least for me, is splitting the collection. I initially was trying to do 1909 - 12, and was kind of all over the place. Once I focused on 59-2013, it was far easier (at least for me). If you're going to make mistakes (paying too much for a coin, etc) - the 59-13 collection is the best to do it with. Other than double dies and wide AM/close AM, there's really only one key date: 1970 S Small Date. 2) Get an ebay and paypal account if you don't already have one. 3) Be patient. Find the right deal at the right price. 4) Learn to grade. Also, PSGS has a free app, Photograde. Or buy the ANA Book. Grading is not hugely important in the 59-13 series, as most of the coins are readily available in BU for very modest prices. But grading, and being good at it, will serve you VERY well in later collections. 5) If you're fairly certain that you will continue collecting, buy key dates early on in the process. So for 59-13, I'd start looking for a suitable 1970s small date. 6) Decide early on what you want. I decided halfway through that I wanted all uncirculated - so I ended up replacing many of my 1940-1958's. These didn't cost a lot of money, but still, I would have been better off doing it from the get go. And don't let anyone tell you 'circulated' sets aren't as much fun, they can be just as rewarding. I happened to like BU, so I went that way - but again, do what YOU want. 7) Your collection will not be worth much without key dates, so if you're doing this as partially an investment, be aware of that. 8) If you're shy (like I am) get over it and ask people at stores in your area if they have 'interesting coins.' You never know what you'll come across. 9) I love my Danscos. But do what you want, whether it's flips, Whitmans, etc. There are people on this board that have posted some wonderful storage things they built. It really is awesome what can be done. 10) NEVER NEVER NEVER pretend that you know more than you do. Ask if you have a question, or research. Forewarned is forearmed. and most importantly: HAVE FUN!!!! |
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Bedrock of the Community
United States
20753 Posts |
You'll like it here. I too have lots of suggestions. 1. Take the time and purchase what is called a Red Book by Whitman Publishing. 2. Do not assume that Dansco Albums are the best. There are many, many just as good Albums out there. Simply go to Google and type in coin Albums. 3. A company called Wizard coins has also a lot of Albums for much cheaper than almost anything else. 4. Don't worry about toning, tanrishing, fading, etc. if your coins are in Albums. Just not in Folders. Getto konw the differences. 5. Attempt to find out if there are any coin shows in your area. Much better than ebay. 6. Keep away from ebay or any on line dealers unless you really get to know what is what. 7. Ask as many questions about coins here as possible. However, always remember that although most here are members with a good deal of coin information, not everyone knows everything. 8. Don't worry about trying to look for and/or purchase the so called key dates. That could get really expensive and you never know for sure if and/or when you many loose interest. 9. If you intend to buy a lot of coins, the best place to do that is at a coin show. Second is possibly a flea market. Next would be a local coin or hobby store. Last would be places like ebay. I'm now working on set #10 of those Lincoln Cents from 1909 to present. Edited by just carl
03/01/2013 12:01 pm
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Pillar of the Community
 United States
784 Posts |
Wow, awesome suggestions so far! I did end up getting a Dansco album and my son and I filled in what we could and he a blast doing it. - About the Red Book, is that basically the 'Standard' when it comes to price guides? I've been on the PCGS price guide mainly so should that be considered a separate resource and for graded coins only? - I also downloaded the PCGS grading app and it seems like a great tool! A question about BU grading. How do strike detail, bag marks, and stains affect their MS grade? To be honest, when I look at the pics I'm having trouble seeing what it is that makes a coin 62, 63, 64 etc... - Key dates, I understand both sides (buy em now or don't worry) and fortunately I already have the 31s (AU) and I just got an 09s (F) so I feel a little satiated there but when I think about the other three monsters, I know this is going to be a life long pursuit so I'm not gonna stress to much about them. Thanks for the warm welcome! |
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Pillar of the Community
United States
655 Posts |
In addition to being a price guide the Red Book gives some history on the coins and has info on grading. It's a good all around tool. Post pictures of coins if you have questions about grades. You'll get a ton of feed back. |
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Pillar of the Community
United States
3278 Posts |
I enjoyed the story with your Grampa because mine is similar. Many of us are in the same boat, started a collection involving family as a kid, lost interest when testosterone surged, became educated,raised a family, things calmed down and we have some extra income and get back into collecting. The "fortunate" collectors never gave it up. Many will say get the keys first and build around them, I say focus on less valuable coins and make your mistakes with them, with leads me to the bulk of your question, proofs,levels of BU and grading. We know how many proofs were minted for Lincolns and for the most part they have been preserved, supply and demand determine pricing. Older Lincolns are very rare in BU business strike and therefor can be very costly. Grading is an opinion with recognized standards, you probably are aware of professionals who have built enterprises with their opinions and guarantees as well as encompassing techniques (grading companies). The more established companies have become industry standards. My point is people clean coins and say they are BU on ebay and you can get burned. You need to learn what original coins look like before you spend a great deal of money on them. That is why Carl's advice is sound. Buying coins in hand and with a trusted professional can be educational and safer. Storage is tough with copper coins, air and moisture are the enemy. Many here have red copper coins in Dansco's and they are in great shape for many years. My experience with my BU Lincoln's is to put them in 2x2's and in plastic sleeves but I've only had them for about 4 years or less but they are 60-70 years old so it can be done. Edited by upstate
03/03/2013 08:18 am
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Bedrock of the Community
United States
11951 Posts |
One suggestion I would have ...is. If you think you might collect more then Lincoln cents, like nickels,dimes quarters, in the future.
I would consider buying mint sets, to break them open and fill all the sets.
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Valued Member
United States
82 Posts |
A lot of good advice here,especially the patience one!
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Pillar of the Community
United States
784 Posts |
Awesome advice everyone thanks!
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Valued Member
United States
93 Posts |
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New Member
United States
39 Posts |
I inherited many coins from my great-grandfather. From a new collector myself, I second the advice of constantly ask ing questions. Get to know as much as you can. If you want to use ebay, you can use the Red Book as a reference to see if some people are just trying to rip you off. Only buy from sellers with a good feedback percentage, but don't just look at the percentage. A 98% with 10,000 reviews is generally better than a 99.9% with 3 reviews. Keys are definitely good to have, but don't ever let stressing over having a "complete" set that would break the bank take away from the joy you get from just collecting. Once the joy is gone, it's just a pointless, stressing investment. |
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Replies: 13 / Views: 1,647 |
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Posted 03/01/2013 08:03 am
