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Replies: 23 / Views: 3,381 |
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Pillar of the Community
United States
1191 Posts |
Everything I see the early 1900's or any of the 1800 coins my jaw literally drops. Where do you get those coins? Do you buy them on ebay, local coin shop, or a specific website? I am looking on ebay at some of the coins that are being posted on the forums and most of them are $100+, I mean, where are you getting this kind of money for a single coin!? I can't even get myself to spend $10 on a coin I really like All I know is coin roll hunting, but that isn't as exciting when I get 10 boxes of nothing in a row  I want to get into metal detecting but I don't think I will find old coins (if any coins other than pennies.) what are your suggestions about getting myself to buy a coin I like or a hole filler for my collection (being on a Budget that is.) Sorry for the random question  Edited by Hello There 07/01/2015 12:19 am
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Pillar of the Community
United States
7390 Posts |
Heritage auctions, stacks bowers, legind numismatics, and others as far as auction houses go. Then you have high end shops and dealers who will source what you want if you have the $. As well as a slew of other avenues
Edited by Cascade 07/01/2015 12:26 am
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Pillar of the Community
United States
6478 Posts |
Quote: I can't even get myself to spend $10 on a coin I really like Something I learned about coin collecting is that quality over quantity is very true. The whole point of collecting is to get coins you like. What is the point of collecting if you spend all your money on a bunch of coins you don't like, rather than a few that you  over.
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Pillar of the Community
United States
1005 Posts |
I like buying them on ebay since there is such a large selection in my price range. Especially for me, large cents are fun to browse and if you're patient and know what to look for you can get a good deal from time to time. Also I guarantee you won't find one of those roll hunting! Now that would be a find...
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Pillar of the Community
United States
6478 Posts |
Actually, one of the CCF members found one in a half dollar bag. Not really a roll. But that would be a cool find.
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Pillar of the Community
United States
606 Posts |
If you do not want to spend 10 dollars on a random coin then I recommend you do some research on on different series and find something that you really really like the looks of. Once you do that, saving and spending will get easier. You can also think of collecting methods. You could do an "Ultra modern" type or "date/mm" set for super cheap; probably from circulation. A high grade " Lincoln Cent" type set could be had pretty cheap as well. If you travel, think about making a set of 1 coin for each state/country you visit each year. That can be done pretty cheap as well. I am starting to really prefer "type" collecting over "date/mm" sets.
Edited by Half 07/01/2015 05:15 am
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Pillar of the Community
United States
946 Posts |
There are a plethora of ways of collecting if you do not like to throw down a lot of money for coins. I think your best bet to obtain coins at face value it so CRH(coin roll hunt) boxes. Be it pennies,dimes etc from a local bank. Remember though,what you put into your collection will often determine the outcome of it many years from now. I personally enjoying saving up money and then dumping it into a beautiful rare key date coin. If you do spend a lot of money maybe it is best if the coin has some intrinsic value to is so it is much more liquid if you do plan on selling it(gold,silver).
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Rest in Peace
United States
18456 Posts |
You ask where to buy coins ? the list is very long. I buy mostly all my coins from local coin shows because you get to see the coin in hand ,can bargain on price ,no sales tax ,and no shipping charges. as far as coin detecting; it's fun but you have to put in your time and effort. finding a great place to hunt can be difficult depending on where you live. but once you find your first silver coin or gold jewelry you'll be hooked.
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Pillar of the Community
United States
1554 Posts |
Go to coin shows and look through dealers junk boxes if you have a hard time spending more than $10 for a coin. Collecting coins isn't cheap, take your time. I've been at it since 1968 and I buy quality coins over quantity so I take my time and save up.
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Pillar of the Community
United States
8904 Posts |
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Pillar of the Community
United States
509 Posts |
I agree. Been collecting about 1.5 years and the accumulation adds up quick. Figure out what you like and fits your budget and then slowly fill holes as you save for each. Mercury dimes for example I pay $1.50 or less each in junk. I think most franklins can be found for less than $10 each... But if you desire Morgan's you'll likely find under $20 each to be rare. CCF is great for knowledge and to drool at others life long collections.
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CCF Sponsor
United States
702 Posts |
Check the bargain bins of your local coin shop! Hmmm... Go carefully. Coin shop dealers (and shop dealers in general, to be fair) don't generally react well to "I don't want to spend a lot of money." But tell them you're interested in working on an old type set slowly and you want to start with bargain coins so you can learn about them. The thing to understand about these coins is that they will have very little value to a dealer, so don't expect to sell them back ever (unless you research and discover - and verify... here, for instance - it's a scarce variety.) You could sell them on ebay when you're ready to upgrade. But this way, you'll establish a relationship with your local coin shop and hopefully it will be a positive one! Edited to add my experience with copper: I started working on my Wheat set YEARS ago and I found I could either spend $30 on a decent '26 S or a decent Braided Hair Large Cent. Or $100 on a 1909 S or $100 on a decent Draped Bust. Be careful getting in to Early American Copper - it can be quite addicting! (In a great way, in my opinion.) Edited to add: I don't do detecting because I'm in the Southwest, but there are tons of great detecting finds in the East!
Edited by Scropper 07/01/2015 12:57 pm
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Pillar of the Community
United States
1308 Posts |
To get valuable coins, you either have to very lucky or very wealthy. In lucky, I mean fortunate to find one. Valuable coins are rare, and they are rare because of their scarcity, whether it be mintage or condition. I've bought thousands & thousands of coins over the years, everything from pennies to dollars, and my valuable rare coin finds have been very minimal. In wealthy, you have to pay for the rarity or scarcity. The days of pulling any of the old valuable coins out of circulation, has been dead and gone for some 50 to 60 years.
Edited by thecoinguy1964 07/01/2015 1:13 pm
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Bedrock of the Community
United States
11951 Posts |
This can be a hard hobby .... when starting out. Everyone has a comfort level, as far as the price they like to pay for a coin.
What helped me get to where my collection is, was metal detecting and putting away 90% silver.
When I was younger I put in a lot of time at metal detecting. I would go to parks, schools and beaches.
Over the years I did find a lot of silver, but I also took all the clad coin I found and bought silver dimes. At the beaches I did well finding gold rings.
Over the years I put away thousands of silver dimes and a couple hundred gold rings. When silver and gold went high a couple years ago, I sold the dimes and gold rings to buy collectable coins.
If you have a local coin shop, try buying 90% silver or Silver Eagles. Just keep buying every payday. It will build up. When silver prices go up again, you might not feel to bad selling some off to buy the better coins.
Now I work a part time job and use the money to buy coins.
If you really want a coin bad enough ... you can find a way to purchase it .... sometimes it might take years to figure out a way, but it can happen.
Edited by GR58 07/01/2015 1:36 pm
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Pillar of the Community
United States
1158 Posts |
It's kind of a waste of time to sit around and wonder how people afford the things they do. You can do that with any aspect of life. There is always someone who will outspend you, whoever you are.
If you have a $10 coin budget, then find the best series of coins that you like and can enjoy on that budget. Coin collecting does not HAVE to be expensive. You don't have to buy rare coins. You can collect nice examples of modern coins or poor grade examples of older coins.
Now if you DO want to buy more rare and high grade coins, then all you need is time. $10 every paycheck adds up to a very nice $520 coin every two years, or a $260 coin once per year, or two $130 coins every year. Some people are fine doing that. Others want to get a new coin every week and so they fill albums with lots of $5 and $10 coins. Others don't buy anything, they just go through mountains of bank rolls looking for collectible coins. There is no wrong answer, just your own personal method of collecting. Just because someone posts an expensive coin doesn't mean they are rich, they might have saved for months to buy it. It might be the only coin they get this year. Be careful not to assume too much and instead look at how you can make what you want happen.
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Pillar of the Community
 United States
1191 Posts |
Thanks for the in depth replies, that would give me something to think about and hopefully make up my mind.
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Replies: 23 / Views: 3,381 |