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Newbie Questions

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Pillar of the Community

United States
521 Posts
 Posted 10/26/2013  11:30 am Show Profile   Bookmark this topic Add johnny676767 to your friends list Get a Link to this Message Number of Subscribers
Hello,

I am just getting into world coins and I was wondering if you could help me with a few questions.

What are the best introductory sources for information?

It seems like I need a copy of the Standard Catalog for starters. Could I get an older edition if I am just interested in identification?

For prices, I have been using NGC's World Coin Price Guide. Is that reliable/accurate?

I have also been exploring Numista for specs. This led me to Heritage Auction's archives, which also seems to be a handy reference.

I haven't bought anything yet because I'd like to be more informed.

Any other suggestions?

Thank you
Pillar of the Community
nalaberong's Avatar
Canada
2805 Posts
 Posted 10/26/2013  2:39 pm  Show Profile   Bookmark this reply Add nalaberong to your friends list Get a Link to this Reply
Hmm... I like the Krause Standard Catalog of World Coins, Circulating Issues. This runs from 1901 to 2013, so this will cover almost everything you would find in a dealer's mixed bin - these bins are certainly worth it. I read up on world coins and have pulled almost 3 troy ounces of silver out of junk bins, at an average cost of about $6 per ounce. And I have found many other rare-r coins, including high face-value coins (2 500 yen at a flea market for $1, face value about $10).

However, the Internet is fine for identification purposes - Numista is fairly comprehensive, and so is the NGC price guide. But most stores price out of Krause, which usually runs lower than ebay (because of the lack of a 10% ebay fee and shipping costs).
Pillar of the Community
United States
1666 Posts
 Posted 10/26/2013  5:09 pm  Show Profile   Bookmark this reply Add Numismat to your friends list Get a Link to this Reply
My only advice is to stay away from purchasing slabbed coins when you first start out. A phrase you will often hear is "buy the coin, not the slab". To avoid making this mistake get comfortably familiar with raw coins before spending top dollar on graded ones.
Pillar of the Community
Pertinax's Avatar
United Kingdom
2133 Posts
 Posted 10/26/2013  6:04 pm  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply
I, too, like the Krause Standard Catalogs of World Coins.

The NGC price guide is compiled from the Krause Standard Catalogs so should be fairly accurate but I have occasionally noticed mistakes, eg VF values in the XF column (and have told them so).

I don't think the NGC or Numista are sufficiently detailed for identification, so I think that the Krause catalogs (even a few years old) would be a worthwhile investment.

Krause is too low on British coins, how I wish I could buy coins at Krause prices !
Of course, all cataloguers have their bias and blind spots; I suspect Krause sees lists and auctions mainly dealing in US and Can material. I also think that prices for France, Germany, and Switzerland are sometimes too low, and prices for Australian and NZ tokens seem too high.

A better online (free) guide for British coins is http://www.coins-of-the-uk.co.uk/values/index.html
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Pertinax's Avatar
United Kingdom
2133 Posts
 Posted 10/26/2013  6:20 pm  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply

Quote:
My only advice is to stay away from purchasing slabbed coins when you first start out. A phrase you will often hear is "buy the coin, not the slab". To avoid making this mistake get comfortably familiar with raw coins before spending top dollar on graded ones.


I entirely agree, so much so that I have never intentionally bought a slabbed coin.

If that seems an odd statement; it's because sometimes a slab has been in a mixed auction lot but the buying intention was based on other coins in the lot.
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