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Replies: 12 / Views: 2,285 |
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New Member
United States
3 Posts |
Hey all, Wondering if anyone could give me some insight into the world of coin collecting. I am looking at starting my collection, but don't know where to start. I like the proof sets, silver eagles, and the Silver commems, but I don't want to sink alot of money into a collection of "junk". Could someone advise me as to what is the best investment coins, under $500.00 please. Greatly appreciated
Jason the mailman
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Moderator
 United States
16677 Posts |
First of all,  . I would look at Lincoln Cents or Mercury dimes. You can assemble a collection of really nice coins without breaking the bank. With the exception of the 1909-S V.D.B. in the Lincolns and the 1916-D in the Mercs, they are all pretty affordable. Popular too.
swcoin.ecrater.com
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Pillar of the Community
United States
628 Posts |
Welcome.
Whichever coins you decide to start with, buy a book or two before you start buying. Also, look at as many coins as you can at shops or shows, get a feel for them, you'll learn a lot seeing coins up close, better than photos. A lot of good info here, too.
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Valued Member
United States
442 Posts |
First of all welcome to the forum. Second learn about coins and decide what YOU like. Third, don't jump in as an investor.
vermontensium did give a few good examples of achievable sets that should do OK as they have been for years. Key word being years. Short term and coins are mutually exclusive words for the most part unless you have a shop, a lot of money, a lot of knowledge or all of the above.
Enjoy the hobby first. Then think about how you might invest.
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Pillar of the Community
United States
5318 Posts |
Quote: Whichever coins you decide to start with, buy a book or two before you start buying The more you know, the better chance that you'll find a coin of overlooked value. Given the option, I'd prefer getting a return up-front. I'm also rather skeptical of any coins which are widely marketed for their "investment potential". Find a series of coins you like, and learn all you can about them. I'm pretty certain you'll be happy with your collecting that way--investment or not. Good luck! 
Edited by KurtS 09/14/2008 11:53 am
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Pillar of the Community
United States
812 Posts |
Welcome to the forum! I believe the best way to make purchases that aren't "junk" is to buy key dates. There are dates in every coin series that are more desirable (usually with lower mintages). These coins maintain value well, and often rise faster than other coins in the series. HOWEVER, take your time! It is easy to spend too much for a key date and then wait a long time for the value to rise to what you paid. I'd start with purchasing a RedBook (A Guide Book of United States coins by R. S. Yeoman). This is a yearly guide that is a wonderful reference book. It is a mediocre price guide, but a great source of information about U. S. coins. A bit of money and time spent on research can save you a lot of money when it comes time to make your purchases. That said, if your objective is to turn a profit on your investment, there are many options better than coins. If you really like coins, then I'd do some research, pick a series or type of coin that appeals to you, THEN check into the possibility of picking up some key dates at reasonable prices.
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Rest in Peace
United States
2668 Posts |
The best investment for a beginner? Current coinage. Go through some rolls of coins and look for various errors or exceptions. Get to know a certain coin type so as to know when you have a really fine specimen. If you decide coin collecting isn't for you, you have ice cream money.  If you are just looking for an investment, junk silver. And don't pay too much, all the sellers still want to get $20 an ounce although the price has dropped considerably from that peak. Above all, have fun and collect what you like. Welcome to CCF, where your questions have answers.
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Moderator
 United States
16677 Posts |
As stated with many of the above posts, read ( Red Book is a great study tool), attend shows, go to coin shops and don't be afraid to ask questions, ask questions here at CCF. It may take a while but eventually, you will have the knowledge to know what to buy, and what not to buy from an investment standpoint. A few coins I have done well with over the years (as clembo stated the key word being years), are the 1921 and 1921-D Mercury dimes and the 1927-S Standing Liberty quarter. Every collector/investor has a certain series that he/she likes to collect. You will too. Enjoy this wonderful hobby and good luck!
swcoin.ecrater.com
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Valued Member
United States
88 Posts |
Bilbo has given great advice. I think that buying key dates is the way to go. Many people decide to start collecting a certain type of coin. They buy the common dates first because they are cheaper. Instead, do it in reverse. Buy the key dates first and slowly pick up the commons after that. That way the key dates that you bought are hopefully appreciating while you assemble the common date coins.
The key to investing in coins is the price that you buy at, not the sell price. If you overpay for a coin, you might never make that money back.
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New Member
 United States
3 Posts |
I want to thank all of you for the insight and knowledge. I am extremely happy with this coin forum. It is great to know that there are so many people out there that care about the "new guys". Take care and again thank you!!
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Bedrock of the Community
United States
14454 Posts |
I would have to say that a coin collection shouldn't be an investment it should be collected for fun and if the value goes up then that is just icing on the cake. They make some coins that sell for around spot for investment purposes and they have some numismatic value as well but when it comes to coins I would just suggest finding a series you like and get the best you can afford of that series and chances are they may go up in value, if you buy common coins in common grades then chances of you making money in a short time is pretty slim thats why I say collect for fun not as an investment. Sometimes you get lucky and a series will go up in value quickly but that doesn't happen very often
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Pillar of the Community
United States
628 Posts |
You wouldn't start a stock portfolio without doing a lot of research, same with coins.
I agree with Bilbo, buy key dates, highest grade you can afford.
Do your homework first.
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Pillar of the Community
United States
560 Posts |
Welcome! Your question is a legitimate one and the responses have been good advice for the most part. For investment purposes you should stick to the key dates and the very best quality coins you can afford. As stated before, there are other much better investment options than coins but if you know what you are doing and don't make any hasty decisions there can be good opportunities in coins for investment. There are some people here that are very passionate about the hobby of coin collecting and may discourage you from investing in coins. I say "go for it" and do what feels right for you. Right now, I like gold and silver bullion coins as an investment. Junk silver is a good buy now and might be a good place to start. Whenever I have a few spare dollars, I buy American gold and silver eagles or Canadian maple leaves and put away for the long term. I personally don't feel that I need to collect and finish any particular series but would rather buy individual coins that I feel have a better chance of appreciating in value.
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Replies: 12 / Views: 2,285 |
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