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 Replies: 17 / Views: 2,632 |
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New Member
United States
26 Posts |
I always had an interest in coins, though my knowledge of them wasn't that great. My grandfather used to buy me a proof set and uncirculated set every year from 1978 to 2005 before he passed. We also used to go through coins that he had and point out a few different dates I should keep other than the obvious 1964 and earlier. He told me to keep all bicentennial and 1998 quarters. They probably won't ever be worth anything but I still collect both because he told me to. I just started back up and bought the 2016 sets. I guess instead of slowly easing into the process of collecting, I just jumped in and did a belly flop. I went on an ebay binge and got some decent items, also made a few mistakes. I went to the bank to get a bunch of rolls of quarters, nickels, and pennies to search and have been going through 20-40 rolls of coins per day and have been burning myself out. I've also been going to banks in search of half dollars but have had no luck whatsoever since there are tons of other people doing the exact same thing. You need luck, which I don't have. I've gone through at least 300 rolls of quarters so far and have found ONE silver quarter...barely lol (1964). I also feel like I need to buy all of the sets I am missing as soon as possible but can't really do it financially. Another problem is that I keep looking at the US Mint product calendar and feel like I HAVE to buy the product when it comes out (rolls, sets, etc). I feel like the longer I wait, the more expensive it's going to be for some reason. I'm not even sure what's worth buying from the mint. I get the regular and silver proof sets, the uncirculated set, and 6 Eagle Proofs (1 for me, 1 for each of my kids and God children). As far as rolls of quarters, half dollars, etc....I'm really not sure what I should be buying or what's worth buying from the Mint other than the mentioned items. Years like 2009 have a low mintage of basically everything so when I try to look up rolls of 2009 nickels, people want to charge $40/roll and that's ridiculous. Right now, I go through coin rolls and keep all dates that have mintages below 400m. I know that isn't exactly "low mintage" but I've just been keeping those dates and/or specific P/D mints. I'm not really into looking for error coins yet mainly because I'm not really sure what to look for when looking at a coin. I know some errors liked double died and obvious errors where a coin is off centered or something but beyond that I'm lost. I guess my problem is that I took too much in at once and focused on too many different things. It's a hobby and is supposed to be fun, which it is, but lately it's been feeling more like a job for me. I'm trying to avoid getting railed by ebay prices since a lot of stuff is overpriced...the biggest joke being the "unsearched" lots. Yea, I'm sure you just happened to find this huge pile of coins, didn't even bother looking at them, and then bagged them up to throw on ebay. I apologize for the long post, kind of rambled a bit. I'm new to this forum and new to coin collecting so if anyone has any advice on what I should be collecting or what I shouldn't be, or anything else for that matter I'd be happy to listen. Thanks! |
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Pillar of the Community
United States
1609 Posts |
Don't do this to yourself. If you're feeling overwhelmed, take a little break. Focus on one thing, and when that's accomplished, find another.
Edited by RoyCoinBoy
01/26/2017 8:48 pm
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Valued Member
United States
467 Posts |
Any new hobby can be overwhelming.
I understand the feeling of wanting to buy it all now before it goes up...but with the modern government sets I really don't think you have to worry about it. Very few of them go up and many of them go down.
I would really try to find what you enjoy the most and then focus on that and learn about that. When I am doing something new, bite size chunks are easier to digest. But that is only my perspective. We all have our own best learning methodology and yours may be to learn the surface of a greater area before diving deeper. The key is to just enjoy it.
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Pillar of the Community
United States
3644 Posts |
I know what your feeling and going through but trust me this hobby is way way too vast to dive into everything. You will quickly become a hoarder and then youll be even more overwhelmed then you are now. Pick a couple of coins or series you like the most and focus on building a couple of sets or albums at first it will be way more rewarding when you complete each one. In between coin roll hunt the coin that interests you the most and when that one gets boring take a break or move onto another.
Edited by Slamnbass
01/26/2017 10:05 pm
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New Member
 United States
26 Posts |
thanks, the problem (or great thing depending on how you look at it) is that there is SO MUCH and so many different areas of collecting. I want to make sure I can get a roll of a rarer date (like 2009) BEFORE it becomes rare for whatever reason so I don't have to cringe every time I look on ebay. I have all of the coin folders for the most part post 1964 filled out and seeing those 2 empty spots for 2009 in my nickel book really irks me. I guess I'm preaching to the choir on that. I actually haven't looked through rolls in about a week because I kept so many different dates of each coin and need to put them in tubes....but I'm waiting for the shipment to come so I have coins everywhere. Generally though, as far as buying from the Mint, is it a good idea to buy a P/D roll of each quarter that comes out? Halves? Dollars? I am curious though, I've never bought a bag of coins from the Mint. Are they just a bunch of loose coins in a bag? |
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Valued Member
United States
344 Posts |
Quote:
I feel like the longer I wait, the more expensive it's going to be for some reason. I've been collecting for almost a year so far and I can tell you that I've felt the same way you have. I'd get so hooked on getting more and more I was just buying whatever seemed to be a good deal. Just know that building sets don't have to be completed asap, the simplest sets can take years to complete. It's perfectly fine to wait. But overall the most Important thing I've learned about this hobby is to be true to yourself and build the collection you want to have. |
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Pillar of the Community
United States
3644 Posts |
I personally have no interest in having all those business strike quarters I only buy the proof clad and proof silver quarters for my ATB album from the mint. Others do tho so I'm sure youll get others to chime in here on that. Aside from the quarters only certain commems and silver sets that interest me throughout the year ill grab they just produce way too much anymore for me to even try to be interested in it all. Most of my purchases are through ebay for the most part. Edited by Slamnbass
01/27/2017 12:00 am
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Pillar of the Community
United States
1963 Posts |
I don't like proof sets though. They only go down in value, unless they are the older ones with silver or 2009.
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Moderator
 United States
56855 Posts |
Dfab86, Knowledge is power. Stop buying any coins until you decide what area of collecting interests you most. Then study up on that area and learn as much as you can. Numismatics is a life long hobby/obsession,so take your time on learning and putting together sets. Going slow and steady make it a hobby,going fast makes it feel like a job. Take a breath and enjoy our great "life-long" hobby. Best of luck to you. John1  |
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Rest in Peace
United States
18456 Posts |
All good advice so far . If I may add one thing : enjoy the hobby, don't let the hobby take over you .  |
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Pillar of the Community
United States
1795 Posts |
400 million is a high number for coins. Looking for error coins is challenging enough. When you get over whelmed then it looses its enjoyment. Just a thought, so you do what is comfortable to you.
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Pillar of the Community
United States
513 Posts |
Consider acquiring those U.S. proof sets you don't already have. That gives a goal (high quality coins, set completion, scratch the "itch," etc.) now when the cost for grabbing those sets is so low. Yeppers, they are mostly out of favor now, but that can be a good time to buy them (from financial and availability perspectives). Buy low/sell high. Or just keep, as many of us do {grin}.
Also, consider putting together a set of 50 cent pieces and dollar coins from Zimbabwe. Part of the joy is in the hunt!
The point being (in agreement with above advice), pick something a little more focused and decide what area of collecting interests you most. And that interest area will change with time. When I returned to the hobby after an extended absence, I discovered a new interest in OFEC (one from every/each country) collecting. So I do have a coin from Zimbabwe, but the Zimbabwe set doesn't (yet) interest me.
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New Member
United States
26 Posts |
Quote:
400 million is a high number for coins. Yea I figured. I know that key dates are all low mintage. Basically all I did was print out the mintage spreadsheets for each coin I'm collecting. Some coins are different than others. A "low mintage" for say a penny (at least as far as ratios go) might be 200m compared to a typical 6B mintage year. But for half dollars, 20m would be considered high and low mintages are what...a few mil or less now? I guess I kind of want to be prepared and have coins from each year prepared in case something like 2009 happens again and all coins from that year are extremely hard to find. Maybe it's just being too cautious on my part or I'm just overthinking it. |
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Valued Member
 United States
397 Posts |
 Dfab86. As others have wisely stated, don't get overwhelmed. Find an area of interest and focus on it. It could be Mint sets, a particular series of coins (Buffalo nickels, ATB Quarters, silver coinage, you get the picture), whatever interests you. It might be a good idea to set a budget limit on how much you want to spend each month on your hobby. This might help you narrow your focus and keep you from over spending. Most of all, enjoy he ride! |
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Pillar of the Community
United States
2271 Posts |
One
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
2271 Posts |
Huh!
One of these days this advise will turn around and bite me but as a rule it's best not to pay a premium for a coins less than three years old. Usually you can get it cheaper if you're patient. The S-mint quarters will be the first exception some day.
I like simple collecting for relaxation. Just putting together a set of the nicest coins I can find in circulation is relaxing and satisfying. I also like to research coins to see which are hard to find then setting them aside for the future.
You can always put together sets of proofs or a set of proof sets. Picking and choosing nicer sets might be fun and it is inexpensive.
It takes time to get an impressive collection and one of the means to achieve it to actually sell some coins from time to time to see what their true value is. Once you get a feel for the markets then you'll spot bargains and be able to trade up to nicer coins.
Have fun. The hobby should last you many years. Good luck.
Time don't fly, it bounds and leaps.
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Replies: 17 / Views: 2,632 |
Posted 01/26/2017 8:53 pm
