Newbie Help Please

Just my two hunnert cents worth:

Choose one, two, (three?) denominations, buy some coin albums, and begin learning about the coins and filling the holes in the album.

e.g.

Lincoln Wheat Cents ( LWC) 1909 - 1959
Lincoln Memorial Cents ( LMC) 1959 - date
Buffalo nickels: 1913 - 1938
Jefferson nickels: 1938 - date

There are still many of these in circulation, find-able, and/or affordable and in collectible condition, which might "jump-start" your enthusiasm with success.

Buy a couple of coin collecting books relative to the currencies you choose. Also consider buying the latest editions of Vols I and II of the Cherry Picker's Guide.

Ask us on this forum every question you have. I think I've been on this forum for three years and I have yet to see a question go unanswered or answered improperly/inaccurately.

There are very brilliant collectors on this forum...I dare say the best in the USA, if not the world, when it comes to US currency.

Asking questions beats the wheel-spinning alternatives.

After you've been collecting coins for awhile, you'll begin to recognize coins to scrutinize and keep, including ones in other denominations.

If you choose a couple of primary denominations, you'll learn quickly. Minutes will grow into hours and Cents and nickels will grow into dimes will grow into quarters, quarters will grow into....ummmmmmmm..........domestic disharmony? (JOKING !!)

I think if you focus on too many primary denominations or types you'll get overwhelmed, particularly since collecting coins may include interest in the numerous known and innumerable unknown varieties and errors within each denomination and year.

I've been collecting since the 1960's and, even today, must exercise discipline in my focus (of the day or week) because I have collected all denominations dating back to the mid-1800's but do not have the capacity, as a human, to remember and know everything about each denomination....try as I may...and when I do try, I get distracted, unproductive, frustrated, and have even made some (costly) mistakes .

However, it has become second nature for me to recognize a coin that merits closer scrutiny...but I'm sure many pass under my nose or through my change jar that I miss.

As hugemistake said, there's collecting "enjoyment" and there's "investment."

Knowledge facilitates and enhances both. Learning (including by trial and error) can be a little frustrating; but it's also very exhilarating -- particularly when we're armed with enough information to learn more.

I enjoin you to begin somewhere !

Let us know what and where you decide to start...speaking for myself, I will help you as best as I can.

Jim













major p.s.

As for value appreciation on coins collected, let me posit a very simple platform from which you can begin:

Appreciation of value includes, but is not limited to how many coins (called population) were struck that year, age of the coin, retained condition of the coin, demandfor , and melt value of the coin. Most coins appreciate and have value within these parameters, with melt value most subject to sudden fluctuations in appreciation and depreciation, in my opinion.

Another determinant of value is VARIETY within the denomination year and and minting ERRORS when the coin was struck.

Coin collecting should be for the fun of doing. Searching rolls for anything unusual, erros, etc., can be exciting.

In so far as a return on what you pay for coins, I agree with the statement that you would be an investor and not a collector.

Start out small. I like Morgans too, but they can be pricey.

Silver Eagles are nice, and you can find them for a decent price.

Wow.. thanks a lot for all of the replies.. they are all almost the same, so I get it ;) I have bought a few old books filled with some coins and will focus on that.

when I look at ebay and see the "errors" some of these errors.. are so small.. it seems useless.. it's almost like they are trying to create the coin to look like something.. that has no merit.. almost reminds me of the big jesus toast craze years ago.

as for proofs and uncir.. which ones normally go up in value? I LOVE the proofs.. but they also look semi fake.. they look TOO good.. in my opinion.. but they are so beautiful.

When looking at morgans.. I actually like the old time bold grey look.. not the shiny ones.. and thats a shame because it's the shiny ones that are really high priced.. lol so collecting what *I* may like (at this point anyway) doesn't seem to have much value.

30x.

First of all . 2009 and 2010 pennies are a good buy you could buy 100 of them for $20 at



http://www.littletoncoin.com/webapp...2%7C%7C0%7C0

I was at my coin shop the other day and your questions remind me of what I overheard a customer asking the owners. The customer was in to buy some gold coins, and the owners gave him 98% of their combined attention for over an hour while he asked questions. I got to overhear everything while searching through dimes, and I learned a couple things:
1. To get great customer service from your coin shop, make sure they know you are planning on spending money.
2. There will always be value in gold and silver. Numbers in the banks' computers aren't worth anything, and paper money is only worth the paper it's printed on. Silver and gold coins will always be worth their weight in silver or gold. You will always be able to sell them anywhere.

So, my point is that silver will always have a value. The price of silver will go up and down, but it won't ever be completely worthless. If you want your collection (or "investment") to maintain and hopefully increase in value, I suggest you go for coins that are made of precious metals.

While I was at the store, the owner said that one man came in once a week and bought a silver eagle or two just to hold onto because of its silver content. These can be bought for $22 I think, and are beautiful coins. Silver dimes can be bought for just $1.50 each.

Hmm, I hope all of that made sense to you. :-P As an example, $2 bills wouldn't be worth anything if our economy suddenly collapsed because they are made of paper, but if you fled the country or something, they'd buy your silver coins for the silver content. Okay, maybe I'm making this more confusing.

On the other hand, I hope you can create a collection that you ENJOY! Coins don't have to be valuable to be beautiful.