new collector needs tips, and advice
hi i am new to collecting, and i have been reading books on collecting for over a year now before i decided to start collecting.
but i would like to get some expert advice. any tips on series to collect? where to start and how?
i know its ultimitly up to me, but i want a collection to not only be proud of but one that i can gather on a tight budget and when i have kids one day i could pass on to them that would have a lot more value than it may now.
so any tips? stories on how your started? your favorite series. maybe a new series to start with new coins? just wanna know what others did
i tried roll searching but when i get bank rolls they are all from the current year and same mint. any tips on that?
here is one i think that has a filled s.. any opions on this
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1977s penny zoom.JPG, 434 KB
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Replies to This Discussion
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Permalink Reply by justin smith on -
come on guys no advice at all
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Permalink Reply by Gary on -
You seem to be on the right track!! Keep reading and that will take you where you need to go!! Enjoy!!
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Permalink Reply by Buffalo on -
On the value issue, I would recommend another book to you if you haven't already read it- Modern Commemorative Coins by Eric Jordan. Eric gives a lot of information and analysis that can help to spot coins that have the potential to be very good investments. A lot of them are opportunies that are overlooked initially by most people for one reason or another, and that in itself can be a major factor why the coins gain value on the secondary market if demand later exceeds the available supply. A lot of the analysis that Eric gives applies outside of just modern Commemoratives also.
On the roll searching I would try a different bank. So far I have only gotten 1 box (cents) that were all the same date and mintmark out of many boxes. Usually they are random and I have found many coins in surprisingly good condition. I have also found as much as just over 4 ounces of silver in one box of Half Dollars, several boxes with 1-2 ounces and quite a few Kennedy proofs, etc. Personally I think the economic situation for many people has caused a lot of coins that have been saved for many years to go back into circulation, surprising what you can find, and hard to beat the cost at face value.
As far as series or how to collect, I really think it depends on what you like. I have constantly gotten interested in different coins since I started collecting, a lot of times just because a good opportunity came up to buy something I hadn't gotten into before. So my interests have changed a lot rather than really staying focused on just one series. I would take a little time and look at a good variety of different series, figure out what you really like and what your goals would be (grades, value, cost, what would be a "completed" set, etc). Once you get to that point, really research it, learn all you can in detail. The old saying is "knowledge is power" and that's true, but there is another old saying that "a little knowledge is a dangerous thing", and that is true also.
Bottom line in my opinion is have fun (and make some good investments hopefully) and enjoy the hobby the way you enjoy it, and realize that will probably change some over time. It takes time to learn and figure out what you want to do. This list by a member at the PCGS forum is a good resource, around 350 links to coin-related sites:
http://forums.collectors.com/messageview.cfm?catid=26&threadid=...
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Permalink Reply by justin smith on
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- thanks man great tips.. thank you very much for the advice.
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Permalink Reply by Louis on
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Justin,
The list of 350 links refers to www.coinlink.com but the site is actually now known as www.coinweek.com. It is the leading online source for coin news and was honored as that last year by the Numismatic Literary Guild. I am one of the main writers for that site and also find it useful to read what my colleagues write. Another very useful site for coin news and tips for collectors (which is curiously missing from the PCGS forum list) is www.coinupdate.com. Coin Update is especially useful on modern U.S. coins. Both sites allow you to sign up to receive newsletters. Also, CoinWeek has lots of video interviews you may enjoy. A good way to learn is to react to articles and interact with the authors and with other readers.
As Buffalo suggested start by checking out lots of different coins and series, but at some point you will probably want to zero in on one or a couple series that most interest you. There is nothing wrong with collecting lots of different coins, and a type series is a lot of fun, but your goal should be to develop a collection that has some coherence to it. You will get more out of that than just an accumulation of different stuff, and it will also have greater financial value. Finally, whatever your budget, buy the best quality you can afford and be careful buying ungraded old coins unless they are coins of minimal value. Check out the buyer's reputation and track record first.
Happy collecting,
Louis Golino
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Permalink Reply by Lureuin on -
When you go to the bank, ask for rolls that aren't "machine" rolled. The ones that the little old ladies have rolled up and brought in. That's where you can find some treasures. Good Luck and have fun!!!!
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Permalink Reply by justin smith on
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thank you i will try that
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Permalink Reply by Buffalo on
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Louis, I forwarded this part of what you posted to Stone who maintains the website list. I just got a message back that he has updated it. Thanks.
Louis said:The list of 350 links refers to www.coinlink.com but the site is actually now known as www.coinweek.com. It is the leading online source for coin news and was honored as that last year by the Numismatic Literary Guild. I am one of the main writers for that site and also find it useful to read what my colleagues write. Another very useful site for coin news and tips for collectors (which is curiously missing from the PCGS forum list) is www.coinupdate.com. Coin Update is especially useful on modern U.S. coins. Both sites allow you to sign up to receive newsletters. Also, CoinWeek has lots of video interviews you may enjoy. A good way to learn is to react to articles and interact with the authors and with other readers.
Happy collecting,
Louis Golino
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Permalink Reply by Louis on
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Thanks for letting me know, Buffalo. Thanks to the Bernanke I think this is going to be a good year for pm's, that is unless you are looking to buy. But even this year's prices will probably look like major bargains in a couple years. For those interested I have a detailed interview coming out next week with a major person in the coin world and some other stuff. Have a good weekend, Louis
Buffalo said:Louis, I forwarded this part of what you posted to Stone who maintains the website list. I just got a message back that he has updated it. Thanks.
Louis said:The list of 350 links refers to www.coinlink.com but the site is actually now known as www.coinweek.com. It is the leading online source for coin news and was honored as that last year by the Numismatic Literary Guild. I am one of the main writers for that site and also find it useful to read what my colleagues write. Another very useful site for coin news and tips for collectors (which is curiously missing from the PCGS forum list) is www.coinupdate.com. Coin Update is especially useful on modern U.S. coins. Both sites allow you to sign up to receive newsletters. Also, CoinWeek has lots of video interviews you may enjoy. A good way to learn is to react to articles and interact with the authors and with other readers.
Happy collecting,
Louis Golino
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