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Book Review?

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hermanwilliams's Avatar
United States
309 Posts
 Posted 04/20/2011  10:16 pm Show Profile   Bookmark this topic Add hermanwilliams to your friends list Get a Link to this Message Number of Subscribers
My brother and I have been piling away coins for about 15 years. Haven't messed with 'em 'cause we really don't know much about them. About 6 months ago I caught the coin collector bug and I have been educating myself as best as I can. No coin shops near by so I turn to the net.

Anyway...I know about silver in coins and where that is, but I'm curious about other finds too. Actually more so, since I've never actually found silver in circ and figure I ought to be looking for something else.

I have the red and blue book but I just recently saw listings for "the Cherry Pickers Guide" and "get rich on pocket change". Anyone have any personal reivews are first hand knowledge of these. At this point all I know about coins is that either it is silver or it isn't. Guidance would be appreciated.
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 Posted 04/20/2011  11:41 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Sometimes I feel that lately there have been more books on coins around than coins. If you want to see an example just go to the Whitman Publishing web site. They not only have books on coins, but now have a book on their Red Book so a book on coin books. I suppose if it continues to go over, they will make a book on the book that is about their books. Or whatever I just said.
Getting a lot of books on coins is sort of smart but could also comfuse you if you attempt to value your coins based on them. They are great for information about coins but you should remember that almost any book is first layed out, researched, checked for errors, sent for publishing, printed, sent out to places for sale. In some instances this may take months or even a year. Therefore unless the writter can forsee the future, any prices in those are rediculous.
Many people with web sites also sell pamphlets, books, magazines on coins. You may want to try Coin World or Numismatic Magazines too.
However, for now rather than spending a lot of money on books, try asking questions here first. Some questions may lead to a book that you need or could use.
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hermanwilliams's Avatar
United States
309 Posts
 Posted 04/20/2011  11:53 pm  Show Profile   Bookmark this reply Add hermanwilliams to your friends list Get a Link to this Reply
Ok Carl...thanks.
I guess I'm not really worried about value of coins, or trying to figure out how much a coin is valued based on what is in a book. I prefer to collect coins to make sets, fill albums, etc. I really enjoy the albums I have put together so far. I guess what I want to watch out for is accidentally passing by a coin that might be difficult for me to find later. So, instead of finding coins that I can sale for profit, just trying to prevent my own haveing to buy coins later when I already had the coin. Does that make sense?

The piles we have are almost exclusively nicks, dimes, quarters. Obviously I'll know if I come across a liberty or barber but what about the coins since '65?

But I hear you Carl, I post in another topic. Thanks.
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CelticKnot's Avatar
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12813 Posts
 Posted 04/21/2011  03:05 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
hermanwilliams - I imagine that very question/prayer goes daily through the mind of many a coin collector:

"Oh, dear baby Jesus...should I keep this nondescript, slightly-worn coin with mintage numbers in the hundreds of millions in the hopes that it might some day be identified as a rare version worth enough put my son through private kindergarten?!"

I think that every time I get change -- but unless you have a trained eye, who has time to research all that? I suppose that's why you're asking about books, hoping they've done the research for you. However, even if the books are 99% accurate, they're not going to pore through your Scrooge McDuck-sized vault for you and examine every penny, half, Ike, and 5-cent piece under a magnifying glass. And, as Carl pointed out, the prices therein are likely very dated.

Besides that, books are written by, well... people. And people are 1. seldom completely objective and 2. seldom completely correct.

So collect for yourself and your wants. If you want to make money, then consult the market. The market is brutally honest, unlike people. If you've been squirreling away coins for the past 15 years, your goal probably wasn't to make money on them since inflation has already dinged you. Better choice than baseball cards though.

I say just keep 'em. If you haven't needed the money by now, you're probably good. Swim around like Scrooge McDuck in his vault and go through a handful every once in a while to see if there are some rare ones that you'd be able to ID. And then keep those too because they're cool. Or you could sell wheat pennies at $10/roll on ebay if you have them. 10 bucks for 50 "unsearched" cents? Man, what a rip. :)

Moral of the story? Caveat Emptor. One of the things my dad taught me is: if it sounds too good to be true, it probably is. And any get rich quick schemes are definitely in that category. The person who wrote the book you're talking about has probably made more off the book than he made in rare pocket change finds.

And the other (and most important) moral? have fun collecting. I sure do.

And yes, I'm one of those people whose opinion is suspect. See the 'moral of the story' section of this diatribe.
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United States
20753 Posts
 Posted 04/21/2011  09:29 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
The piles we have are almost exclusively nicks, dimes, quarters. Obviously I'll know if I come across a liberty or barber but what about the coins since '65?

Exactly why a book such as the Red Book is important. Even glancing through you would find coins to look. For example in Cents there is the 72 Double Die, the 83 Reverse Double Die, 95 Double Die and lots of others. Almost all coins have had errors made at one time or another. Just in errors in the Red Book, 2012 edition, pages 404 and up they list a large variety of errors.
And also you'll go nuts trying to figure out the difference in the 70S's, all the 82's and really have fun looking for wide and Close AM's on the reverse.
OR just send me all your coins and stop worrying about all that.
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hermanwilliams's Avatar
United States
309 Posts
 Posted 04/21/2011  12:59 pm  Show Profile   Bookmark this reply Add hermanwilliams to your friends list Get a Link to this Reply
Everyone here takes questions so seriously.
Like I said earlier, intrinsic value of the coins is not my motivating factor. Just wanted some suggestions on reading material to guide searching for unusual or less common coins.
Thanks carl. I hear you about the " Red Book". I'll use it for now.
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KenRingold's Avatar
United States
594 Posts
 Posted 04/21/2011  1:00 pm  Show Profile   Bookmark this reply Add KenRingold to your friends list Get a Link to this Reply
Now to answer the question. The Cherrypickers Guides are great books. I recommend them, but they are kinda pricey at $40 for each of the two volumes. Vol. 1 covers Half Cents up to Jefferson nickels. Vol. 2 covers from Capped Bust Half Dimes to dollars to eagles to commeratives. Pretty much everything that's not in vol. 1. Both volumes are more extensive in the varieties than the Red Book is, and they have good photos of what to look for.
I do not own the book "Getting Rich On Pocket Change" although it is on my wish list.
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