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 Replies: 15 / Views: 1,889 |
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Pillar of the Community
United States
1370 Posts |
Roughly 2 1/2 years ago I developed a renewed interest in coin collecting. I collected some with my dad when I was younger (around 8 years old) but was lured away by baseball and basketball cards (late 80's early 90's) which at the time I made decent money for a kid buying and selling baseball cards. Now I wish I had continued with the coin collecting instead. Anyway I ramble. I've recently been looking at my earlier coin purchases (2 1/2 years ago) and some I shake my head at. I didn't buy slabbed because they weren't as good of a deal (in my head). Looking back, I will say my biggest fault in purchasing was lack of patience. I wanted to fill holes as quickly as possible. I was unable to discern a cleaned coin from problem free and unfortunately dealt with more dealers who had the business motto of "let the buyer beware".
I've liquidated much of my earlier purchases (and not all my purchases were bad....some were diamonds in the rough, so I guess it kind of evens out) and I have learned patience. I'm still a newb, but the best advice as a newb, to other newb's is be patient. Wait for that one coin that jumps out at you. It will save you a good bit of cash in the long run, and will eliminate the headaches of trying to sell your lesser pieces at a nice loss. Buy slabbed (top tier) until you can tell the difference between a cleaned coin and problem free. Do research, there is so much information available here. I've learned so much on CCF, and don't take the criticism of your prized coin to heart. Recognize learning experiences and realize that the people who are beating your coin up probably have a whole lot more experience than you (I) do.
Look before you leap....will you miss deals, maybe. But you will also reduce the chance of getting taken advantage of.
This is the advice coming from a newb, who wants to grow up.
I am also really bored at work today....
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Pillar of the Community
United States
1436 Posts |
What awesome advice. You sound like someone who's been collecting for a LOT longer than you have. Sometimes learning the hard way is the best way. After you've taken some lumps, you tend to be much more cautious and patient! I think you're advice is spot-on.
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New Member
United States
3 Posts |
Thanks for the post! I'm sor of in the same boat as you. When I was younger my father collected coins and I would share in the hobby. As time went on I moved onto other things (baseball cards, World war memorabilia, game worn/used sports jerseys, etc.) and then grew older and got a family of my own. I still have some of my fathers coins and now my 9 year old son loves looking through them and also the coins that I have been picking up here and there.
I'd like to expand on my collection and have some nice coins that I can pass down to him as my father did to me. After reading your post I was wondering what you (or any other members here) would consider a top tier designation (coin grade) on slabbed coins? Thanks in advance!
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Pillar of the Community
 United States
1370 Posts |
PCGS holders tend to bring the most money, NGC second and third ANACS. Also ICG isn't bad once you get to know a series (need to look at these slabs closer). Old PCI holders with the 10 digit serial numbers are decent slabs, and can be purchased at a discount. I would say if you're looking to hold on to some coins and pass them down....ANACS is just fine.
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Valued Member
Germany
138 Posts |
I have been collecting for a few years now, I still think of myself as a "growing newb" as well. When I first started buying coins, I pretty much just bought anything and everything I could afford from ebay, in whatever condition I could get it. I really didn't have a good understanding of grading, but I didn't spend too much cash on coins (maybe $5-$10 was typical). Now that I have a much better idea of what I want to collect, I find myself with a lot of coins I wish I never spent my cash on. I'm sure I had got taken a few times (i.e. overpriced coins, cleaned coins). But maybe that stage was necessary. Because I learned a lot, and really found what I was interested in. My advice echos shadow's. Don't buy coins as hole fillers that you just plan to upgrade later. It wastes your time and possibly your cash. Keep the funds available for when the coin you really want shows itself. Another tip I will give is to buy the Red Book http://www.amazon.com/Official-Red-...p/0794836771This really gave me a ballpark idea of what a coin could be worth, and gave me an idea of how grades were defined. Plus, I picked up some vocabulary. Not too long after that, I discovered CCF. That's when I really started learning  |
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Valued Member
United States
169 Posts |
Good advice.You sound like proffesional.lol:-)
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New Member
United States
3 Posts |
PCGS holders tend to bring the most money, NGC second and third ANACS. Also ICG isn't bad once you get to know a series (need to look at these slabs closer). Old PCI holders with the 10 digit serial numbers are decent slabs, and can be purchased at a discount. I would say if you're looking to hold on to some coins and pass them down....ANACS is just fine.
I understand about the different companies, I was wondering what grade you would consider "top tier" to look for.
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Pillar of the Community
United States
9792 Posts |
Greg A top tier grade would depend on the coin and series, as a Fine might be a top grade for many on a Chian Cent, but MS66 or 67 is probably for a type Morgan dollar. "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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Pillar of the Community
United States
4337 Posts |
Quote:
I was wondering what you (or any other members here) would consider a top tier designation (coin grade) on slabbed coins? Westcoin offered a great answer. All I can add is to stay in the AU range. PCGS AU58 coins in your 19th century coinage for the Liberty Seated Series is a great market to invest in for your son to resell or pass down to his children in 30 years. I am going to personally define 19th Century Coinage as any dime, quarter or half. You will find yourself in an average price range of $200 to $1000 depending on the actual type and series in these denominations. IMO however, the real thrill comes with spotting problem free coins in this higher end AU range, and even MS, as a raw purchase that you might nab at a great auction price and have slabbed yourself. You can really increase your investment outcome but what you're really increasing is your craft as a Numismatist who can spot the right coins. I share the same war story as Shadow Trooper. My earlier buys are unquestionably that of a newbie that didn't have a clue. I have sold most of those off and only due to mixing in some lucky/aggressive buys from that same time period, have I managed to break even on those sales. Shadowtrooper also has the BEST advice I have seen for any new and seasoned collector Quote:
Look before you leap....will you miss deals, maybe. But you will also reduce the chance of getting taken advantage of. Edited by dsfreeworld
03/11/2013 10:20 am
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Pillar of the Community
United States
1261 Posts |
Good advice Shadowtrooper78. I did the exact same thing you did only 20 years ago. I was able to get rid of those early hole-fillers and mistakes some time ago. The worst thing is looking back at it now I wish I had some of them back...LOL.
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Pillar of the Community
United States
1370 Posts |
@ chesterb. I'm betting those were key's/semi key dates huh. Those are coins I'll be holding on to no matter how bad they may be, there will always be a market for them. Granted I don't have many keys.....working on that though.
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Pillar of the Community
United States
4416 Posts |
Hey Shadowtrooper78, you certainly don't sound like a newb to this oldtimer. Your post reminded me of a little display project that I put together for coin club members many years ago. I showed the members a variety of coins that had been cleaned in different ways. I remember using a pencil eraser on a Lincoln Cent, not an S-VDB mind you, for that exhibit. |
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Pillar of the Community
United States
5850 Posts |
I could have written the exact same post. Except that I wouldn't have been willing to admit to all the mistakes I have made...  |
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Pillar of the Community
United States
1370 Posts |
@ExoGuy.....I've found the quickest way for me to learn is when it affects the wallet haha.
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New Member
United States
3 Posts |
Thanks everyone for your patience in answering my newb questions (which I'm sure have been asked here 1000 times) and helping to point me in the right direction. I'm sure i'll have loads more!
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Pillar of the Community
United States
1370 Posts |
@greg19 I registered on this site june of 2011....most of my really poor purchases came before registering on here. There is so much knowledge and information that you can glean from here. And the best way to do that is ask questions.
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Replies: 15 / Views: 1,889 |
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Posted 03/10/2013 10:48 am
