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 Replies: 19 / Views: 3,393 |
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New Member
United States
10 Posts |
I recently acquired a coin collection from my grandfather and I want to continue to add on to the collection. I don't have a tremendous amount of disposable cash so I was curious what coins people would recommend I should be looking for or what coins should I attempt to purchase in order to enhance the collection.
Any help is appreciated, Thanks!
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Pillar of the Community
United States
1554 Posts |
Buy a couple of coin collecting books first so you have some knowledge of prices, how to grade, history, etc. Go to a coin show and poke around.
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Pillar of the Community
Canada
2124 Posts |
Well, if you want to continue with your grandfather collection, I guess you should buy according to what kind of stuff is in the collection ....
Edited by arianzo
11/06/2013 8:29 pm
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Pillar of the Community
United States
1088 Posts |
I always say to buy what interests you. if you like American coins, maybe start with a type set (one of each type). If you like more of a variety, world coins may be the way to go. You could also collect errors in coins. A good way to start a collection if you are low on money is to pull coins out of circulation. good luck and happy hunting.
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Valued Member
United States
416 Posts |
Welcome to CCF, a little more info would be helpful as far as adding to the collection like what is it mainly comprised of?
You will get a lot of "collect what interests you" and "buy some books first" comments which are both good pieces of advice.
Glad to hear you are interested in continuing your Grandfather's collection and good luck.
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Valued Member
United States
201 Posts |
What did your grandfather like? Finding out why he was interested will fuel your interest, believe me.
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Valued Member
United States
315 Posts |
Imho, avoid silver like the plague. There's just no deals available, prices always start at spot. Im finding lots of room in proof sets, but mainly I just like the way proof coins look. Never buy them from the mint. In about 5 years, they find their true market value. Any sets from 2007 until now still carry the mint's minimum price tag. My advice: pick something to collect you like. Even if you make a mistake, the aesthetic value will help. Imho, the absolute best way to get prices is ebay. I've seen various price guides but e bay's values have always been true. To give yourself a quick and dirty education in prices, I would recommend searching ebay's sold listings. If you make a mistake, always make mistakes under market value. If you are tempted to buy something over market, have the discipline to just say no. I just bout a bunch of 80s proof sets at 4.50 apiece. If I see a deal tomorrow at $3 per, I'm fine because I can sell them at $5. It would be a huge difference if I bought them at 5.50. Always be ready to walk away. No matter what coin you want, remember that there are probably a million similar coins. |
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Bedrock of the Community
United States
20753 Posts |
 Most people forget to say that. I suggest you look into purchasing a copy of what is called the Red Book by Whitman Publishing. No meed to get the latest one since not much changes and you can save a lot by lookiing for a year or so older version. Try any coin show, coin store or hobby store. Other than that, try Amazon.com or other coin supply house on line. Once you get a book like that, sit down and look through it for what you may or may not like or want. And as already noted, try to find a coin show to go and just look around. Stick around here and ask, ask, ask. |
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Pillar of the Community
United Kingdom
856 Posts |
You have an advantage being in the US. You might find it helpful to get a book that discusses grading coins (because price is largely down to condition/ how little wear a coin has had) and just pick some coins out of change and compare them! You'll be surprised how few modern coins like cents are perfect, without scratches, dings (knock marks) or evidence of poor manufacture like Cud marks (extra blobs of metal at various spots). And you may find some older coins to ID on the way. Then if you do decide to actually buy some coins you'll have a better idea of what to look out for. A general book on World coins might be fun too. Don't pay much or get it from the library. Just to show you the variety that exists. Most of all, have fun. (And do ask questions too, as Carl says!) |
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Pillar of the Community
United Kingdom
548 Posts |
1) Collect what you like the look of.
2) Never buy junk from private mints. (Correction: Never buy anything from private mints.)
3) Never clean or polish a coin.
Edited by Demarco Bishopp
11/07/2013 1:03 pm
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Valued Member
United States
368 Posts |
When I started a couple years ago, I started with Walking Liberty halves.....you can find the later year coins in MS+ grade for a fraction above spot. They are a beautiful coin and you'll feel accomplished when you're holding a very heavy book of silver coins! Good luck! |
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Pillar of the Community
United States
2543 Posts |
Welcome to CCF. First let me tell you how GREAT it is that you want to carry on your grandfather's hobby. It seems like every other new member , only joins to find out what his Father's/Grandfather's collection is worth, how much can they sell for and does anybody want to buy it.  for you. I agree with others, you seem to have inherited a nice collection, continue your grandfather's legacy. As you continue his collection and learn more about coins, you will no doubt develop your own loves and can continue his interests and start your own legacy to pass down to your grandchildren. |
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Valued Member
United States
317 Posts |
I have a few books but I really don't use them that much and I find a lot of knowledge in those books can be found on the web or actively discussed on this site.
I would just focus on gaining more information by reading what's available on this site and I really don't think you should purchase coins at the start but try to learn how to preserve what you already have.
Yep, I would focus on preserving/properly storing what you have now before adding.
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Pillar of the Community
United States
1195 Posts |
What's your budget look like?
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Pillar of the Community
United States
1314 Posts |
In order to enhance the collection, you need to make a list of every coin he left you.
Describe them as accurately as possible. Take photographs of each and every one. Seal them in proper holders and mark the holders. You cannot know today which one will mean the most to your heirs a hundred years from now.
Today, you may think the silver dollar is the most prized coin in the collection, but two generations from now, when Great Aunt Sadie's letter of a marriage proposal surfaces from a distant cousin, and mentions the Hobo nickel, or a penny shot with a .22 rifle,
you'll be glad you recorded it.
And the foreign coin? Was that the last coin his father was able to keep from the old country, when he came to America?
Adding to his collection is important as a family venture, but secondary to recording the foundation he established.
I'm a senior citizen and though single and childless still work with one of my brothers (also single and childless,) to establish a data bank of the coins we got from Grampa 50 years ago. Still not sure who will get the coins, but they will come with documentation, letters, dated envelopes and recollections put down on paper.
You have been entrusted to preserve your family history.
Preserve, and then you will know how to expand.
Good fortune be with you.
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Bedrock of the Community
Australia
21786 Posts |
The first coin I bought was a gold half sovereign. It was minted in Sydney, where I live.
I was fourteen years old at the time. I then stated a subscription to a coin magazine that is no longer published. Some Australian CCF members may remember it:
The Australian Coin Review.
The next coin I bought was a denarius of Antoninus Pius. It cost me $4.50, about the correct price for it at the time. That came along at 18 years of age. I then borrowed a book on Roman coins from the City Library, to find out about it.
Don't do things like I did.
Chute72 has some good advice.
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Replies: 19 / Views: 3,393 |
Posted 11/06/2013 8:28 pm
