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 Replies: 17 / Views: 2,935 |
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Pillar of the Community
United States
784 Posts |
I have always been interested in coins, but I have never actually purchased a coin over face value. I have always looked though my change to see if I had anything interesting in it. It has got me my small collection that I have now. I want to start buying coins for a collection. The only problem that I have is I don't know what to collect. At the moment I only have 1 Morgan dollar, 2 Walking Liberty's, 10-15 Franklin 1/2 dollars, and about 20 wheat pennies. I am really interested in the Indian cents but I don't know enough about them to know how much to spend on a coin (or if it is even worth collecting them). I saw this website. I was not sure if the prices where accurate. There is also only one local coin shop that is close to my residence. I would probably buy buying most of my coins online since I don't have a lot of spare time to search coin shops. http://coins.about.com/od/coinvalue...y-values.htmIf you could let me know if IHC are a good starting point to collect a complete set. I don't plan on completing this set really fast since I would only have a 70 dollar budget ever 2 weeks. Also if you have other recommendations on where to start I would love to here them. I love all old coins I think they are amazing. Thanks for the help. Casey Parman |
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Pillar of the Community
United States
1348 Posts |
If you are looking at IHCs then a good basis to go by is if you can get them for around $1 and they are in OK shape (not completed corroded and the dates readable) you are doing good. Of course the harder dates will cost more and you should query this forum before buying one of them, but don't go spending $10 on a common IHC that's not in great shape. |
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Valued Member
United States
262 Posts |
My best advice would be to read, read and then read some more. Get a couple coin collecting books and then go from there. Are you looking to do this for investment purpose for a long time goal or just trying to start a new hobby and have fun?
Determining what your expecting out of coins will help decide what you should collect.
Most importantly, have fun! This is a great hobby and for some a great career.
one resource book that does a great job in explaining numismatics for beginners is "coin collecting for dummies". yep there's a yellow book for this hobby too...
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Valued Member
United States
384 Posts |
IHCs is a great idea  Also agree with Michael on reading everything you can. Want to add that learning to grade will help as well, if you don't know how to already. |
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Pillar of the Community
United States
524 Posts |
You have 10-15 Franklins I would start there. I think there are only 35 in the circulated set. $15 each [give or take] would give you a complete set and something to build on. IHC will take a lot of money to complete. If you have $600-$800 to spend on one coin thats great but it might be better to start an easy set to get some ideas on grading and where you prefer to buy. Just my mentality,success builds success for me. If I had started the IHC first and never completed it I may have never continued the way I have. Just my thoughts. |
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Pillar of the Community
 United States
784 Posts |
I am really doing it to start a new hobby. I have been looking at the grading page seeing what other people thoughts are on coins hoping it would help me out. I dont think I would buy a coin unless it was in good condition.
My Franklins I counted them I have 14. which are some are of the same date.
1 - 1963-D
4 - 1960-D
2 - 1958-D
1 - 1956-P (NO MARK)
1 - 1954-D
1 - 1953-D
2 - 1952-D
1 - 1951-S
1 - 1950-D
So I really only have 9 of them. I will probably always hold on to the extras. (unless I'm dead broke)
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Pillar of the Community
 United States
2362 Posts |
Collecting Franklins sounds good, but I prefer Walking half dollars as they are so cool looking. Many of them can be purchased just above the ever rising melt price. Another suggestion but maybe off topic is the series of Canadian Large Cents. I bought so many of them at very modest prices and once again - they are very attractive coins. Member ANA and EAC "You got to lose to know how to win". Dream On by Aerosmith |
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Pillar of the Community
United States
784 Posts |
I'm not really into foreign coins I have 2 sets of 1987 1983 British proof and they just don't do it for me I think its the american history behind each coin I enjoy.
I will stop by the coin shop tomorrow and see what they have. probably make my final decision then.
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Bedrock of the Community
United States
11951 Posts |
This question gets asked a lot on this site .. And there are always different opinions. I think you should pick coins that you like and interest you. Decide how important it will be for you to fill every hole or slot in the album. If you plan on filling every hole, completing the set. Take a price guide and check out the prices of the key coins and see if you think you will want to commit to paying what those keys cost. You may also decide to if you want to collect Circulated, uncirculated or proofs .. or a combination of those. So lets take the Indian Head cents. Check out the prices of the 1877, 1909 S, 1908 S and the mid 1860's through the mid 1870's coins, in the grade you might like, and see if you are comfortable with those prices. The 1877 can be several hundred dollars in lower grades. Another popular set is Jefferson nickels. This is a very beautiful set when done in BU and proof coins. The highest priced coin would be the 1939 D and could be found for $70.00 or less in BU. The complete sets might be put together in the $400 range, could be more or less depending on how high the grade of coins you purchase. On Jefferson nickels some try to go with high grade full step coins, a set like that, I could not imagine what it would cost to complete. You can search for old threads on this site and look for complete sets members have posted and see if something catches your eye .. Other ideas might be a Peace dollar set or a dollar date set. These end up being nice sets and have a lot of big silver. Here is a link to a dollar date set I did earlier this year https://goccf.com/t/87150 |
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Pillar of the Community
United States
716 Posts |
The IHC is my personal favorite, so I might be slightly biased, but I think it is a great starting point to coin collecting. I enjoy collecting classic coins over moderns and IHC is a great example. In the lower grades you can complete your collection at a comparably reasonable price (with the exception of the 3 key dates 1877, 1908-09s) In addition to the good advice that other posts have given you, I recommend you also read 'A Guide Book of FE and IHC by Richard Snow. Also, don't be afraid to ask questions. There are a lot of knowledgeable people on this forum who are willing to help. |
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Pillar of the Community
United States
2150 Posts |
I think a good set for a beginner to collect is the Walking Liberty Halve '41-'47 short set. Most of them can be found in AU/MS for very reasonable prices. Only the '38 D will be the key of the series and can be found in MS often times for less than $100. I've been working on this set for about a year and its been one the most rewarding. https://goccf.com/t/82802 |
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Valued Member
United States
293 Posts |
I've been a fan of Mercury dimes since I was a kid just starting to collect. You can get most of them (except for the rare and key dates) for around melt. It's a large enough series to keep you searching for while, but not overwhelming. Also, they're silver and I've always liked having a little precious metal in my collection. But really it's just down to what you like. I'm thinking about starting up Indian Head cents and Buffalo nickels just to have something new to collect :) |
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Rest in Peace
United States
9104 Posts |
A slightly different way to collect IHC, using your $70 number: $5 for three-five common dates $15-20 to buy one of the harder dates The rest, put back towards one of the tough dates. My logic: There are many commons, but this makes your set grow slowly, instead of getting a bunch and then staring at the same holes when you "hit the wall". The more expensive coin is something that gives you bragging rights, starting from the very beginning. Saving towards the tough ones gives you a goal while you learn what to watch for. |
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Pillar of the Community
United States
784 Posts |
That is good logic biggfredd. I will keep that in mind.
What is everyone's thoughts on key dates. Should I save up and get a good grade or should I just live with the fact that its a key date.
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Valued Member
United States
368 Posts |
always live by this coin motto: get the best condition coin that you can AFFORD.....always keep in mind that upgrading at a later date is a viable option.
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Pillar of the Community
United States
1510 Posts |
or you can start with lincoln cents-- alot of them out there..
Retired USAF 1983-2003
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Replies: 17 / Views: 2,935 |
Posted 06/16/2011 4:27 pm
