An Old-timer's Collection by James E Nelson

[CSJournals-migration]

Lot's of coins, most of them raw and impossible for me to get them all certified in what's left of my lifetime.

 

It wasn't until recently that I sent in any coins to be certified. I have been collecting coins for over 55 years and learned over many years how to grade. Anyone that collects coins needs to learn how to grade a coin. Without that knowledge, snyone whether they be a dealer of friend, could sell you a coin that might end up grading 3 to 5 grades lower than what you thought it might be. And every time that happens, you will loose money.

 

In October, I sent my first coins in to be graded by NGC and when I got them back, only one graded less than a MS69. Of the 20 coins I sent in for grading, only 8 graded out MS or PF 69 and 11 graded out MS or PF70.

 

Some suggestions. Buy your coins from either the Mint or a dealer that has a very good track record. Chances are that you will end up with mostly high grade coins. Stay away from those TV huxters because you will rarely get a deal from them.

 

And watch out for the dealers that do a borderline uncirculated in their advertisement. The only place you will find that grade is in a dealers advertisement. No grading book or 3rd party grading service will have that grade. In reality, you will end up with an AU or XF (EF) coin but pay an uncirculated price. And finally, just remember that learning about money is a learning experience that never stops and I don't pretend to know all there is to know about the subject.

 

Enjoy your hobby and share it with as many young people as you can.

 

See more journals by James E Nelson

[Jack Robinson]

I am pretty new at collecting coins. Thanks for the tips.

 

I have been picking up raw coins from people who I trust. As you suggested, know the coins that you want and you will save a lot of $$$. I totally agree.

 

I buy NGC or PCGS slabbed & certified coins. I research the selling price, FMV and if it is in the range that I like... it becomes mine.

 

One big tip I have learned, as a golden rule, is to have a lot of patience and not to fall for the impulse buy.

 

Thanks again for your great advice.

 

Best wishes,

 

Jack

[coinsbygary]

Good advice!

Gary

[nunfa0]

Nicely put James!

[SPHansen]

Did you learn to grade from using books (Photograde, etc.) or did you have someone mentor you through the process? A combination of both? Curious to know.. thanks!

 

 

[Mokiechan]

Sharing our knowledge and experience, that is what makes this Forum great.

Thanks James.