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What Coin Should I Buy As A Starting Collector?

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coincollector123's Avatar
United States
850 Posts
 Posted 12/27/2010  10:18 am  Show Profile   Bookmark this reply Add coincollector123 to your friends list Get a Link to this Reply
i would rate your morgan is about a VF-20 and your quarter is about a EF-40. That is a good grade for that quarter. It is a good find.
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pls's Avatar
United States
1729 Posts
 Posted 12/27/2010  10:20 am  Show Profile   Bookmark this reply Add pls to your friends list Get a Link to this Reply
Welcome to CCF, Casutherland.

It sounds as if you are still trying to discover what aspect of coin collecting interests you the most so that you can concentrate on that area. I'd suggest that you read through as many threads here as you have time to and gradually decide upon your interests.

Most collectors can be divided into those who collect for fun, and those whose main objective is to collect as an investment activity. You can certainly mix the two, but I would suggest that anyone who collects coins should have at least one fun area, or you'll get burnt out, like Scrooge McDuck in his vault, surrounded by wealth, and cursed with the only objective being to collect more, more, more wealth. (You eventually may have to liquidate your wealth, and there goes your collection!)

Consider that coins can be objects of art in themselves ... you can look for varieties ... you can go for one of each in a series, or in type coins ... you can collect similarities, like animals, birds, beautiful women, heads of state, whatever. You could go for at least one coin from each country, or every chunky Great Britain 3-pence coin every minted. It's up to you, and lucky you, you're at the very beginning of your collecting experience and decide now what you want to do. Be sure to check in with us often and let you know how it's going.
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Casutherland's Avatar
United States
520 Posts
 Posted 12/27/2010  1:25 pm  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
ive called every bank in a 50 mile radius and only one bank had rolls :/
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lincolncentguy's Avatar
United States
809 Posts
 Posted 12/27/2010  1:49 pm  Show Profile   Bookmark this reply Add lincolncentguy to your friends list Get a Link to this Reply
Casutherland...I go to 4 bank branches everyday and I'm lucky if I get one or two half dollar coins per month!! I have no idea how these guys find boxes or even rolls!
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Coinstar's Avatar
United States
1510 Posts
 Posted 12/27/2010  1:54 pm  Show Profile   Bookmark this reply Add Coinstar to your friends list Get a Link to this Reply
you cant call--you just show up when you are in the neighborhood. also the good banks write what you want on a piece of paper and your phone number--it works
Retired USAF 1983-2003
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coincollector123's Avatar
United States
850 Posts
 Posted 12/27/2010  2:00 pm  Show Profile   Bookmark this reply Add coincollector123 to your friends list Get a Link to this Reply
i get rolls all the time. I try to go on a stretch of road and hit every bank on that stretch of road. Call your local bank (make sure you have an account there) and see if they can order a box from the Fed. I have gone through 3 boxes ($500 each) and have gone through hundreds of other customer bank rolls. Yeah you usually have to go there and ask. Cause the teller usually just checks hers. They never check the vault. When you go to ask for halves make sure they check (or you) all the other tellers trays and ask if they can check if there are any in the vault. When they ask how many you want say you want as much as you can afford.
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USArmyParatrooper's Avatar
United States
1283 Posts
 Posted 12/27/2010  2:32 pm  Show Profile   Bookmark this reply Add USArmyParatrooper to your friends list Get a Link to this Reply
Casutherland,

Part of what you mentioned was the investment side of coins. I would recommend only focusing on the hobby side, especially when you're just starting out. Coins can go up and down in value, but even assuming coin values stay flat you're likely to lose money buying and selling coins (as a collector). Also, the best "investment" coins are key dates, which unfortunately are very expensive.

I would suggest learning as much as you can about the hobby and just stick with the coins you enjoy. Do as much research as you can about coin grading standards, the different coin series, the industry and the hobby itself.

Also, don't make rookie mistakes like cleaning your coins or buying coins "certified" by grading companies that are unknown or unreputable. As you progress in your hobby keep coming to this (or other) coin sites and ask lots and lots of questions. There are no dumb questions and there is a plethora of experienced collectors and numismatists who are more than happy to help.
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SilverFossil64's Avatar
United States
183 Posts
 Posted 12/27/2010  3:34 pm  Show Profile   Bookmark this reply Add SilverFossil64 to your friends list Get a Link to this Reply
When you asked about finding half dollars at banks: some banks are willing to order coins for you in $500 or $1000 increments. Some charge a fee to do this, and others do not. But keep in mind you have to find a place to dump the rejects too. Usually you would not want to take them back to the same bank type as you order to reduce likelihood of getting your own coins back in future and not upset the people ordering coins for you.
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coincollector123's Avatar
United States
850 Posts
 Posted 12/27/2010  4:52 pm  Show Profile   Bookmark this reply Add coincollector123 to your friends list Get a Link to this Reply
You also want to design an easy marking for your wrappers so you know if they have been searched. Mine, for halves, are (during college) two black lines with a black "X" and (before college) just a black "X". It also give warning to other collectors that this roll has been searched. It is also like putting your name on the rolls.
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Casutherland's Avatar
United States
520 Posts
 Posted 12/27/2010  5:18 pm  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
Can you take duplicates back to any bank for pure cash or do you have to have an account with that bank?
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Casutherland's Avatar
United States
520 Posts
 Posted 12/27/2010  5:20 pm  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
So you arent supposed to just tear the paper to open them lol, wow I am very very new to this. I honestly started collecting again like 5 days ago so all this is very very helpful. I appreciate all this help
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Casutherland's Avatar
United States
520 Posts
 Posted 12/27/2010  5:24 pm  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
I mean I am 19 years old and am not making a ton of money right now, I would say that my budget is about 50-75$ a month for coin collecting simply because I am young and a college student.
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coincollector123's Avatar
United States
850 Posts
 Posted 12/27/2010  5:47 pm  Show Profile   Bookmark this reply Add coincollector123 to your friends list Get a Link to this Reply
i would only take 20-30 a month for coin collecting. You may have some unexpected bills or you may have a gf. Plus its always nice to save money so you can use it later on in life. You can take rolls back to the bank. Make sure you have the exact number of coins needed for that roll. It is money. They have to take it back but they can flag large amount of coins. I would only do about 20-30 dollars per visit and do not do a lot of visits or it would look suspicious. try not to tear the wrappers. You unfold at one end and empty them out and then put them back in the wrapper. you should not be able to find any plastic wrapping for halves though (only seen on pennies, nickels, and quarters). Just start easy and buy one or two folders every half year and fill them up with coins from banks.
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Casutherland's Avatar
United States
520 Posts
 Posted 12/27/2010  6:25 pm  Show Profile   Bookmark this reply Add Casutherland to your friends list Get a Link to this Reply
Ya I am inexperienced so I tore the paper, I wonder if they would take back just the coins. I hope so. Thanks though for future reference
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Coinstar's Avatar
United States
1510 Posts
 Posted 12/27/2010  6:34 pm  Show Profile   Bookmark this reply Add Coinstar to your friends list Get a Link to this Reply
do pennies and take them back to the bank machine or a coinstar machine--penny rolls are 50 cents a piece
Retired USAF 1983-2003
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