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 Replies: 15 / Views: 2,566 |
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New Member
United States
32 Posts |
I read an article in Coin Week, it was an article for beginners. It said that its a good idea to collect key dates and classic coins rather than modern. That collecting series,dates,and mint marks is a thing of the past. It also stated that a beginner with a budget of $250.00 to $1000.00 would be able to get started nicely.
I have read stuff like this before,and it had frustrated me endlessly. I am poor, my monthly budget for coins is $60 to $80 a month. I mostly concentrate on my small cents. But I collect alot of different american coins.
I collect coins because I like history and art. They both intrigue me. The history is cool to read up on, the designers, the mints, the decision making. What is really cool is to think and wonder where this 1939 penny I am holding has been. All the days,months,and years that its traveled to my hands, where has it been. Also population, this coin is unique its only one in maybe 12,000,000,000.
So you probably won't find a 1914 D or a 1955 DD in my collection. Cause I will never be able to afford them but I will continue to collect anyway just because I love the art, symbolism, history, and the time travel involed And that sense of wonder that holding my pennies in my hand
gives me.
Edog
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Valued Member
United States
277 Posts |
That's what it's all about! Do what you love, not what you read in a magazine. You may never have a world class multi-million collection, but you WILL have a collection that you can pull out, and just get lost in for hours and hours and that truly is priceless.
I have some really nice coins that I saved and saved to buy and I love them, but the coins that mean the most to me are the ones that are what make me happy.
My favorite coin of all mine is a 2010 P Lincoln that would probally grade around "awful". I have it in my collection because it was on the ground when I got out of car at the hospital the night my son was born.
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Valued Member
United States
184 Posts |
You could save that 80 bucks a month and when the time is right get that big time coin you need for your collection. It does take you out of the excitement of collecting other coins during those months when you're saving since only a low budget.
I read somewhere that getting that one big coin over several months than getting all little coins everyday is better off for collectors. I mean I agree but disagree to that because collecting is different for everybody. People do it just for money and/or learning the history and so on.
I started off buying small time coins here and there and now I've been saving trying to find the perfect first time big purchase.
Wolverine: that's sweet about your Lincoln on the day your son was born. Now that is a collector's piece.
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Valued Member
United States
62 Posts |
I don't see why spending 80 a month would be frustrating. Thats 2-3 nice coins a week on ebay. I'm in the same boat and I enjoy my budget. If it frustrated me I'd move to a new hobby :) |
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Pillar of the Community
United States
1150 Posts |
If my budget was 80 a month, than I would buy an NGC graded MS64 common date Morgan dollar each month. If you really enjoy the history behind coins than you would have a blast with the VAM book, a 16X loupe and a bright, fresh and uncirculated Morgan. |
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Valued Member
United States
259 Posts |
My budget is quite a bit smaller, so I stick to modern coins and trade up for others. I have gotten some older ones, including some Mercury dimes from a fellow CCF member!Last year I traded for some Morgans! |
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Valued Member
United States
284 Posts |
I collect because I want to absorb a small piece of culture. Coins are small artistic samples of a nation's history. Who is Abraham Lincoln? What did he do that was so important? What's that funny bird on the back mean? The coins themselves aren't as important as what they represent. As long as you spend cash on something and get change back then you can be a coin collector. A budget for pricey coins is nice to have but not essential.
I haven't read the article so I don't know who wrote it or what their background is. My guess is that it was written by someone who has been collecting a long time and may be somewhat disconnected from what it means to be a beginner. Coin collecting should not be considered an upscale or luxury activity. The barrier to entry is and should stay very low. Just go get change for a dollar... like 100 pennies.
-- Boris
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Pillar of the Community
United States
594 Posts |
Quote:
My favorite coin of all mine is a 2010 P Lincoln that would probally grade around "awful". I have it in my collection because it was on the ground when I got out of car at the hospital the night my son was born.
First coin for your son's birth year set.  |
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Pillar of the Community
United States
1817 Posts |
If you roll hunt $80/month goes a long way and is limited to the coins you keep out of circulation. Some great finds can be found this way, including circulated silver. Just ask some of the pros on here. |
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Pillar of the Community
United States
594 Posts |
 EDOG: I know how it is with a small budget. Mine is about half of yours. I collect for pretty much the same reasons that you do. Lately though I have had the opportunity to roll search half dollars, and this has created a dilemma. I'm just now, because of the small budget, starting a Kennedy half set. I haven't found much silver and no Franklins yet to add to the only two I have (my birth year). But I have found some doubles of 40%s. That creates the dilemma. Do I sell for melt my doubles to buy that 1915S Lincoln Cent I need? That then would mean those little works of art, and pieces of history will be gone forever, or do I just hold onto them? I could sell them for the numismatic value, but whose to say the buyer won't turn around and sell them for melt. Which they probably would.  |
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Valued Member
United States
337 Posts |
I feel like I am one of the cheapest guys on here. I might spend tops around 15 dollars a month. I roll search way more then I buy. For instance I can't fathom buying a coin like a silver Roosevelt dime that I can find in circulation. Many have told me it can't be done but through roll searching alone all I need is 17 more silver Roosevelt dimes and my set of 46-present dimes is complete. I spend about a grand each week roll searching. The thing is that each week that grand goes right back in the bank, just to be switched out with another thousand dollars of coin. If I had 80 bucks to spend on coins I would save it each month and help it pay for a house. I am 21 and have been living on my own with my girlfriend for 2 and a half years. I have money to buy coins, for a kid my age, quite a bit. To spend it on coins though isn't what I am all about. There are things more important to me then this hobby. At the end of the day it is a hobby, and since I don't want to sell any of my stuff I could care a less what it's worth. PS that $500 1922 no D I found and got graded looks mighty sweet sitting in my safe. Just saying do what you want, and who cares what others say. |
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Pillar of the Community
United States
1510 Posts |
I always read "Buy quality, not quantity" so me being different I do the opposite-- Id rather buy 10 of something and put them in the book than get just one thing, you can always upgrade. Sometimes it is different when you need a coin you cant get cheap. (my 20 cent piece) My fun is sitting down with my daughter and searching 2 lbs of wheat pennies--or transferring everything to new dansco albums...  Retired USAF 1983-2003
Edited by Coinstar
06/05/2011 10:34 am
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Pillar of the Community
United States
1915 Posts |
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First coin for your son's birth year set. This is what got me started. My father bought a proof set the year I was born. I still have that set. I bought one for each of my boys the year they were born and the year they graduated high school. |
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Pillar of the Community
United States
850 Posts |
I like to buy quantity. You can always upgrade to a better coin when you get the budget. For example I pulled a AG Shield nickel cull out of an antique mall for only $1. I picked up a seated liberty no arrows quarter for $7 the other day just to fill a slot in my coin album. I will upgrade later on when I have a job. Quantity for now (and alot of roll hunting) and quality later on. |
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Moderator
 United States
187702 Posts |
Quote:
...It said that its a good idea to collect key dates and classic coins rather than modern. That collecting series,dates,and mint marks is a thing of the past. It also stated that a beginner with a budget of $250.00 to $1000.00 would be able to get started nicely. Absolute rubbish!  Quote:
I have read stuff like this before,and it had frustrated me endlessly. Do not let it frustrate you. The article was wrong, plain and simple. At least from my point of view. I am glad you do enjoy what you do collect though! Quote:
Do what you love, not what you read in a magazine. Well said. We do this, collect coins, because we enjoy it. If a magazine has you doing things that frustrate you, then you are doing it wrong. Throw out that rag and keep doing it your way. Be happy and enjoy what you do! |
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Bedrock of the Community
United States
20753 Posts |
Try to remember that many people that write articles for magazines, newspapers, etc. have little to no idea of what is real and what isn't. Many just write, write, write and base what they say on what they read somewhere else. Some don't even base what they write on anything at all just a lot of garbage but if someone prints it, they keep on writting the same junk. A good example is the people that give the weather forcasts on TV. Think they know what is real and what isn't?
For coins, it is a hobby. Like any hobby, do what you like, what you can afford, what is FUN for you regardless of what anyone prints.
And if you want, send in a story to them just the opposite.
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Replies: 15 / Views: 2,566 |
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Posted 06/04/2011 12:15 am
