Want To Start Collecting - Advice Please

Yu hav good question........and the way yu phrase it has me scared.....I'll reply anyway.......yu are probably smarter than me........Knowledge is key with coins... Experts say buy the book before the coin........Past performance with types of coins, and bullion,,,should be an example (Good) for future buys... Here is an idea--buy a book (Coin) from the 1960 or 1970's and see how those coin went and buy the current versions of the good performers..........Morgans, eagles, gold first nations,,,whatever.....Some collectors will only buy the coins they personally enjoy or like.....another way to go..........

Purely for investment? Buy the rarest and best you can afford. One of a kind $10M items have held value. Not a lot else has.

Some advice to consider:
A coin which is today common, found at every coin shop and in every dealer's display case, is unlikely to be a good investment. TOO MANY available.
A coin which is difficult to find today, requiring months or years of searching, is more
like to be a good investment over 30 to 40 years. TOO FEW available.
Identifying these coins requires study. Unless you are willing to devote yourself to this I and perhaps other members are at a loss to help you.

Now, on to my personal opinion:
1) NOTHING after 1933! ( US coins)
2) Scarcer dates in higher condition. A single, scarce coin in EF or AU condition will do better than 10 or 20 common coins in mint state.
3) Stick to coins which have a proven track record in terms of popularity. Fads are, and have always been, something to avoid.

Confused? GOOD! There is no easy way to achieve what you wish to do.
Persevere in your studies, and you create a good foundation for your quest.

Oh, and what basebal21 said: 'What is on your heart? Fun or pure investment. Stocks may be better!'

As the others have said, coins are not guaranteed to go up in value. Sentiment and fashion play a part in coin collecting as well as rarity and condition.

For example, women of my grandparent's generation were often advised to buy a mink coat. The expense was high, but they retained their value. Nowadays? You couldn't even give one away.

As for bullion, well, come the zombie apocalypse food, water and medicines will be the most valuable commodities on earth. Bullion bars will just be something heavy to throw in a pinch. OK, maybe I'm joking a bit there, but ..

.. if you like coins and are prepared to spend time and energy learning about them then past performance suggests you should make a reasonable return.

If you aren't bothered about them or don't want to do the studying, there are easier investment options.

Beyond that without knowing likes, budget etc all I can really say is that nine time out of ten the condition of a coin is what counts. Sure, there are some really rare coins around. But mostly a common coin in uncommonly good condition will keep its value far better than a rare but uninspiring one.

Buying the best coin you can for the money is good advice. However, knowing what a better coin looks like, whether it's easy or difficult to find others in similar condition and whether the price is fair takes time to learn.

I just thought of one other thing. Remember that a coin that might raise (or cost you) a small fortune in the US can easily struggle to make back what you paid in the UK. Collecting trends, interests and markets are quite different across the world.

If you are planning on investing, an essential part is having a plan as to where, when and how you will dispose of your investments.

Hey... if I had an ulcer, I would certainly appreciate no guarantee of growth.

underworld magic: to the CCF!

You could do worse that starting a collection of dimes. Relatively cheap to buy singly, or in bulk.
Serves twin purposes:
1. Can build a nice date / mint mark collection in lower or higher grades, according to your budget.
2. In lower grades, the examples you find at least have bullion value, or a little more.
3. Bonus: Reasonably easy to find, and to start a series collection with, especially outside the United States.

FSB's with lustre are nice to get, when you find them.

I am not keen on cardboard 'push in' type albums for coins with lustre, OK for grey patinated coins in lower grades.

A vast amount of helpful specialist information has been published on most American series. That includes dimes.

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As you can see from the response to your original post, there are plenty of CCF members that are more than ready to help with advice and to share what they know. You will find many 'kindred (numismatic) spirits' here in the CCF.

Like I say, sentiment and taste play a large part in the popularity of a coin.

westcoin mentioned the 1916 Standing Liberty quarter. A key date and, yes, will always be popular for that. But for half the price you'd pay for one in MS63 you could get this:



I know which I'd prefer and why. And that's something you'll need to decide for yourself, whether investing or collecting ..

Westcoin: sorry I tried emailing you but, I cant as I'm a new member.

Hi,

Thanks so much for your reply to my post.

Your reply was really helpful, I am currently looking at the coins which you suggested. I'm not at a specific budget, but if there is something I know is worth buying I will save up for it, I can save around 200 GBP per month. The stamps I buy for investing are around the 1500GBP mark.

I had a look at legend coins, thats way out of my league, wow, I had no idea coins went for that much.

Quick question, the coins which youve suggested, how much do have they gone up in value?

Like I posted, I collect stamps for investing, and they seem to be going up every year. But I do pay upto 1500GBP per stamp so their not cheap (I pay in every month and when I reach the amount they move it over to my account).

Thanks again for being so helpful.