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 Replies: 36 / Views: 5,036 |
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Pillar of the Community
United States
689 Posts |
ima younger collector (21) and I dont really have lots of money to spend on all these awsome coins I want, but there has to be other ways to build my collection without spending my whole paycheck every week right?  i was just wondering if anybody had any suggestions on other ways to improve my collection without putting me in debt! |
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Valued Member
United States
473 Posts |
um...get a new hobby! haah nah just kidding of course Im in a similar situation as you. Basically, I put aside $20 or so a week as exclusive "coin money". I use that either for smaller purchases or save it to buy something a little nicer. The wait between purchases can get pretty irritating so I spend alot of my time roll searching. I've managed to build a complete Jefferson nickel set just from purchasing coins from the bank. My hoard of Wheat pennies and silver Kennedys are becoming almost to big for comfort...I might sell some off and use the money to buy something nice. It takes patience and discipline but pays off nicely when you manage to get your hands on a real beauty :)  --Gary EDIT: oh...and in the meantime, get studying! Learning about numismatics is almost as fun as doing numismatics Edited by GFR3
02/28/2010 10:19 pm
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Pillar of the Community
United States
677 Posts |
Buy coins in lower grades. As your finances improve, you can upgrade.
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Pillar of the Community
 United States
689 Posts |
thank you, in the last month I've started roll searching spending $20-40 a week and re-rolling and trying to save all the junk coins up for something better. and having a ms64 grade isn't the most important to me, I actually like a lil wear on a coin just so you know its been around and there could be some crazy history behind it or have been owned by someone historically famous and may never know!
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Pillar of the Community
United States
4846 Posts |
i have the same problem! only worse! I'm 11! with NO allowance. so I usually pick up what ever those other collectors dont need.
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Valued Member
United States
317 Posts |
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Bedrock of the Community
United States
20753 Posts |
Since your in your 20's, you should really know a lot of people and if so, that is one thing you could try. Never make it sound like you have a fortune, but mention to some that you are starting to collect coins as a hobby and do they or their parents have any old jars, cans, boxes, etc of coins laying around that they may not want. Might find some for face value that way. Also, ask neighbors and relatives the same thing. Always try garage/yard/estate sales and ASK about coins. In almost every instance where coins were available, I've found they were just not put out do to safety. If you ask, you may find some really great coins that way but you have to ASK. In the past I've found at places I've worked the same thing. If you ask, there is occationally someone that may have a pile of old coins. I've done that in the past and usually always come up with coins from other countries and free. If your not on the wealtheir side, avoid coin stores. As a rule their prices must be higher to support their buisness and family. If you go to Google and type in coin shows and your state, you may find there are some coin shows in your area. For sure, go to them. You may also try coin clubs. If there are any in your area, sometimes older collectors try to help younger individuals with some good deals. Another place where coins are sometimes sold eally cheap is at a flea market. Sometimes there are people selling an inherited coin collection with no idea of what they are worth. If your in a large city area, just stand on a busy corner with a musical instrument and a pan at your feet. People will always throw in small coins almost as a joke. Sounds stupid but no long ago on TV they interviewed some of those people and found many were making hundreds of dollars/day. One of them stated he eats out at some of the best restaurants in the area and almost every day. Just remember that if you do try garage/yard/estate sales, you have to ASK. |
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Pillar of the Community
United States
689 Posts |
thank you very much for your suggestions, I'll definitely try that.
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Valued Member
United States
473 Posts |
Quote:
If your in a large city area, just stand on a busy corner with a musical instrument and a pan at your feet. People will always throw in small coins almost as a joke. Sounds stupid but no long ago on TV they interviewed some of those people and found many were making hundreds of dollars/day. One of them stated he eats out at some of the best restaurants in the area and almost every day. The hobos in New York often do better than most of us blue collar guys... |
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Pillar of the Community
United States
689 Posts |
GFR3, I'm sad to say I'm seeing thats how things kinda work.
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New Member
Taiwan
39 Posts |
Spend you money on some good books to learn about the coins before you buy. In a few years, when you're hopefully earning more, the knowledge will be priceless.
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Valued Member
United States
436 Posts |
Quote:Quote:
If your in a large city area, just stand on a busy corner with a musical instrument and a pan at your feet. People will always throw in small coins almost as a joke. Sounds stupid but no long ago on TV they interviewed some of those people and found many were making hundreds of dollars/day. One of them stated he eats out at some of the best restaurants in the area and almost every day. The hobos in New York often do better than most of us blue collar guys... There is a guy in San Francisco, The Bushman. He waits behind bushes and then jumps out and scares people. He has had multiple TV interviews, news paper stories, has his own Wikipedia Article, and you can see video of him on YouTube. The wiki article states that he can make around $60,000 in a good year. I have seen stories about him that put his income at over $140,000 per year.... |
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Valued Member
United States
294 Posts |
The yard/garage sale is a great suggestion. I'll add that local flea markets are another source for reasonably priced coins. Most of the venders at these venues are there every week, so get to know one or two. I have found some great deals this way. There is one guy who sets up in the summer (his table is outdoors). He knows what I like, knows what I'm willing to spend, and looks for stuff during the week, so he has something for me each weekend. Before you spend too much money, get to know the person.
Also, check live auction listings in your area. Sometimes these can be brutal price-wise, but other times there are some bargains to be had.
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Pillar of the Community
Philippines
1156 Posts |
Hi jakeW the cost is directly related to what one collects. Fortunately, for me, my interest is on silver. I am a OFEC silver and base metal coin collector. it's relatively a lot cheaper  but still, to budget really requires patience and control. So for that $220 coin, I have to patiently NOT spend on any other coin for two months, very very difficult, then I go out and buy that $220 single coin splurge. But first you have to decide, as early as possible, wether to go for quality (High cost) or quantity (Low cost) coins, only then can you really start to budget |
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Valued Member
United States
292 Posts |
Plan, budget, save, buy.
Plan for a coin you want.
Budget how much you can put aside at regular intervals.
Save that budgeted amount.
Buy that coin and assuage your need!
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Bedrock of the Community
United States
20753 Posts |
At one garage sale I asked about any old jars, cans, etc of coins not wanted. One of the ladies said wait here. Went inside, came out with a large jar of pennies. I told them I think there is about $35 worth there and offered $50 and they took that. The entire bottom had visiable all Indian Heads. At home I found the newest coin was in the 50's.
At a flea market someone had a notebook on the table. Inside was those plastic pages for 20 2x2's full of mostly Indian Head Nickels. 238 of them total and all in really EF or better. Some other early Jefferson's too. I asked how much and was told $80. I didn't even try to haggle about that one. I took it naturally.
At a coin show a dealer had just purchased a box of Indian Head Nickels. He just put up a sign saying any 5 for $1. I started to look through them and saw a 37D 3 legged one. I asked again how much. He got irritated and mentioned look at the sign. I said just wanted to make sure. Did you look at any of them. Now really irritated he said either take some or not. I took 5 for $1 and naturally the 3 legger.
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Replies: 36 / Views: 5,036 |
Posted 02/28/2010 10:19 pm
