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 Replies: 41 / Views: 4,885 |
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Bedrock of the Community
 United States
18706 Posts |
twslisa, even dealing with a local dealer. if you are not well schooled in what to look for you can still overpay or purchase something that may not be what you think it is. I would suggest that if you see something you like ask the dealer if you can take a picture of it. tell him you are interested and that you want your friends opinion on it. if we wont allow that, then I probably would not deal with them. play it save especially if you spending $150+ for a coin. even if the coin is slabbed, you dont buy the grade on the slab, you buy the coin and some maybe overgraded as attested to by several we have seen here on the forum
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Valued Member
United States
54 Posts |
Nice topic. Coins collecting is most often a hobby preferred by men?
As an empty nester, I finally have a few brain cells to use on all these coin details. Finally gave that handful of coins I got from my grandfather a closer look. I have begun to notice how pretty coins can be. It also helps tremendously to have the internet available along with a smartphone or tablet in hand to compare what I have to photos online.
I find the America the Beautiful National Parks coins to be so pretty, so I want to collect them all. I watched much of Ken Burn's documentary "The National Parks, America'S Best Idea", loved the series and agree with the sentiment. Having experienced some of the parks, it will be fun gathering the country ns.
Wow, $150 is a big budget for one month! Good luck in your collecting.
Edited by IamCam
10/09/2016 10:34 pm
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New Member
United States
8 Posts |
Hi! I'm a newcomer in this field too. As you mentioned you're not going to collect any particular type of coin, so here is a good tip: "Look at the coins from both sides:collecting and investing".
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Pillar of the Community
 United States
790 Posts |
Yeah, that's not a monthly budget. I decided to use a bit of my savings to get a few coins to start off with. Now I'll have to save a bit and hope the coin I want is still there!!
I decided I really love nicely toned coins. I'm working hard to educate myself on natural vs. artificial toning, and at the same time learn enough about coin values to not pay TOO much of a premium for the toning. Meanwhile, it's fun to hunt.
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Pillar of the Community
United States
4211 Posts |
 Craig! Do you have a " Red Book" twslisa? Sounds like you are starting to narrow down your likes  |
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Valued Member
United States
434 Posts |
I recommend focusing on a particular series to build-up your skill set in grading, identification of key dates/varieties, trend in prices, identification of the experts with the series, and how to cherry pick undervalue offerings. Once you have this skill set under your belt, move on to another series to master. I did this with Morgan silver dollars. It was a very enjoyable and profitable experience for me. Happy collecting! More importantly, happy skill set building for rewarding profits! |
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Pillar of the Community
United States
790 Posts |
I had already gotten a RedBook to help figure out what I had with Grandpa's collection, and wasted a little money on a couple books about grading coins before I found Making the Grade (awesome book with good photos of coins at most grades and a little explanation of what differentiates coins at each grade). I bought Coin Collecting for Dummies to get a basic overview of the hobby before I started collecting, and when I started picking through my change jars, I picked up the Cherrypicking books at a 2nd hand bookstore, along with a serious case of eye strain! Since I love toned coins, it looks like I'll mostly be looking at Morgans. I've seen some really nice toning in many other silver and nickel coins and even a penny or two, but it seems like Morgans are most likely to go all rainbow. |
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Pillar of the Community
United States
790 Posts |
BY the way, if you love books or just want to update your RedBook, check to see if there's a 2nd and Charles in your area. It's worth a bit of a drive. They have a huge selection of 2nd hand books at amazing prices. If a book costs $10 on Amazon, 2nd and Charles might be selling it at $2. Also, if you read a lot (I carry a book with me everywhere--it makes waiting in line a lot less annoying), you can turn books back in for store credit, which keeps the habit from becoming too expensive. Edited by twslisa
11/03/2016 06:22 am
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Pillar of the Community
United States
790 Posts |
One other thing... I'm kind of steering away from series collecting at the moment. I tend to get a little OCD about such things--if my goal is to collect a series those "holes" in the coin book will bother me. Given the price of some rare dates, even with pennies, I think it's wiser for me not to go there at this point, or I might be too tempted to spend more than I should when I see a great pickup. For now, I'm focusing on looking for high quality but affordable coins that have eye appeal, even if I'm duplicating some common dates.
Maybe one day, once I have some accumulated value (and gained knowledge and experience), I can trade duplicate coins in to help pay for higher value dates in series.
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Pillar of the Community
Australia
7096 Posts |
Quote:
I decided I really love nicely toned coins. I'm working hard to educate myself on natural vs. artificial toning, and at the same time learn enough about coin values to not pay TOO much of a premium for the toning. Meanwhile, it's fun to hunt. I think that you will enjoy this thread then  http://goccf.com/t/53247 |
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Pillar of the Community
United States
790 Posts |
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Moderator
 United States
189763 Posts |
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Pillar of the Community
United States
4470 Posts |
If you are going to buy rainbow Mogans, stick to slabs as there is less risk of AT. You still need to study the toning, so you can identify the different types of toning such as album, end of role, wood grain, bag, envelope, etc. Placing value on attractive rainbow Morgans can be difficult as there is typically a premium.
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Pillar of the Community
United States
790 Posts |
Is there a page with photos to show those different kinds? What I had read thus far was that I should be leery if I see a coin where there is sharp differentiation between colors,as real toning tends to flow together from shade to shade. Also someone said that it's less likely to be AT if its only on one side of the coin. Finally, I'd read that MS coins are less likely to be AT'd (since if something goes wrong in the process it destroys the value of a good coin) while folks might be tempted to AT an AU coin to enhance its value. Is there a place where I can find more info?
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Valued Member
United States
321 Posts |
1. Go to the local coin shop 2. Ask to see the junk bin 3. Cherrypick all coins worth a premium 4. Resell for profit  |
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Replies: 41 / Views: 4,885 |
First Page
Posted 10/09/2016 10:33 pm
