Hi, I'm new

[AEATON-migration]

Hello there.

I have made a recent decision to get involved with Numismatics for interest and profit. It all started when my company gave me money as a farewell gift, to spend at a jeweler. I didn't like the jewelry so I bought a gold coin. I looked around for info on what I purchased and it turned out it was a really bad buy. That got me curious about coins so I got my paws on an old collection that my dad has been holding onto from my late uncle who collected during his travels in wwII. I thought it was a stunning collection and got a few books to see what I had "inherited". Turns out to be nothing but a bunch of overcleaned, overcirculated, common junk. Some of the coins are really old though - and perhaps over time I can summons a little help on seeing if there is actually SOMETHING that is remotely worth ANYTHING> I'm from South Africa, by the way, and as it turns out we have quite a rich numismatic heritage, and subsequent to my trials I have gone into collecting rare coins cast in precious and semi-precious metals, mostly for investment. I have made a start on my first "real" collection, Mandela coins, and am enjoying what I have found available. On my internet search, this site was spewed out, so I decided to register and see what it's got to offer.

Hoping I will make some friends in this area of interest.

My first question would be what defines a "rare coin"? Someone told me it was anything with a mintage under 500 - yet I've seen some items of 5000 being called Rare ??

[Tradedollarnut]

Welcome!

 

The adjective 'rare' is usually a function of demand, rather than a specific population.

[LucyBop]

Be Bop A Lula!!!

[LucyBop]

You have rare coins due to low mintages but also, with the advent of professional grading you also have conditional raritys such as certian strike designations and also low population coins in a high grade.

 

for example, a 53s Frankie is hardly rare, but one with the Full Bell Line designation is extremely scarce and very pricey...

 

same for common coins with low numbers found in high grades, ms67 and above......

 

such as a 1963 Roosevelt, hardly a rare coin but try finding one in ms68....

 

the low mintage coins don't really need a high grade to bring in good money, such as the 1916d Winged Libert..

 

1914d Lincoln cent........ the list goes on....

 

Some good books are in order for your library....

[Wihlborg]

welcome to the board. I hope you enjoy it here.

 

John

[XpipedreamR]

Hello there.

I have made a recent decision to get involved with Numismatics for interest and profit...

 

 

Welcome!

 

Stick to the interest part more that the profit...you'll be a lot happier

[Hoot]

Welcome AEATON! You have a long and varied interst awaiting you in numismatics. Hope that your interests overcome your desire for profit, as the latter is a greater rarity.

 

You mention rarity and also an interest in non-U.S. coins. One of the wonderful things about collecting non-U.S. is that you can pick up some wonderfully rare pieces (in terms of sheer numbers) for cheap. Folks in the World coin forum can give you quite an education on this and are great folks to interact with. As TDN said, rarity is somewhat a function of demand, although you might say that there are different kinds of rarity - absolute and realized (or functional). The former is a matter of there being very few pieces, say < 10. Realized can be a matter of demand, where there are simply more collectors of a given issue/grade than there are pieces. So, even a very common piece, e.g., the 2001 Unc. buffalo dollar (500,000 minted and distributed), carries a premium because there are so many who want it. Since there are far fewer collectors of non-U.S. material, the demand is not generally strong. Conditional rarity, as Lucy mentions, is also a factor that determines value. Again, however, the curve can be pretty flat between grades for coins in low demand.

 

Just a few thoughts.

 

Hoot

[Leothelion]

That got me curious about coins so I got my paws on an old collection that my dad has been holding onto from my late uncle who collected during his travels in wwII. I thought it was a stunning collection and got a few books to see what I had "inherited". Turns out to be nothing but a bunch of overcleaned, overcirculated, common junk. Some of the coins are really old though - and perhaps over time I can summons a little help on seeing if there is actually SOMETHING that is remotely worth ANYTHING>

 

Welcome to the boards Aeaton!

Certainly you already know but the joy of collecting coins does not need a monetary value! As for your late uncle, he found a much more meaningful value then what you could have hoped for inheriting his collection. Collecting coins is one of the greatest past-times of our American heritage. Whenever I get bored or there's nothing to read or interesting to watch on TV. or in my case, whenevr I lose a job or get laid-off, one of the very few things that gives me a peace of mind, is my coin collection! It's something that I've spent many hours and miles accumulating over the years! But like you, when I pass on and the collection ends up in my childrens hands, they'll likely think in the same way you did, wondering just what the heck your uncle was thinking when he collected what you have before you!

 

Leo

[Here]

Hi there. What do you like to collect? Even know yet? I collect nothing but NGC graded 1881S Morgans and raw AU Twenty-cent pieces. (have only one of these so far) I have one more NGC 81S Morgan to go and then I can go back to 20 centers. I do have a all others collection too. There's allot of knowledge availabe which you have already witnessed by the responses to your post here.

 

Jerry

[chinook]

Jerry,

 

You say you have only one more 81s to go. Are stopping at a round number like 10 or 20 or 100? Or are you building a grading set or a set with designations like PL or DMPL?

[AEATON-migration]

Thanks for all the welcome.

So far, I have taken my uncle's collection and decided to try and "upgrade" it and complete some of the better developed collections. His coins are all a mess, the VG ones are cleaned, and the ones that arn't are Fair to G at best. Pitty. But for the centimental value of knowing where he traveled during his services in the navy, I will most probably keep what there is. I'm told that here and there he met up with kind collectors who contributed some great coins into his collection - but it seems he ruined them with polish.

 

My current big goals are with 1cent Francs, as these are in the best condition, and my own collection I have started is all Mandela profile Currency across the globe - this one has been alot of fun. Mandela is a huge icon in our country, he was a political activist in his youth, who was imprisoned for ratial-related reasons. He was released on our previous government pardon and his political party ruled with him in power for 2 terms. His party remains in power now with his successor in his second term. He has been a political activist across the globe since his release and has had alot of involvement in third world countries to relieve poverty. He anounced his retirement from public appearances a few days ago. He is 84 now and is slowly dying. I am hopeful to get my collection finalised before he passes. It appears that many third-world countries have minted coins in his honour, mostly gold and silver in low qty, and I've been fortunate enough to be able to afford them. The biggie for me is to find currency coins minted in my own country. There was a censor against printing his image on anything, which was lifted at the time of his release from prison. His profile was printed on our highest circulation denomination at the end of his leadership, which is the tradition here, and there has been one other gold coin awarded a face value which I am planning to collect today. I still have alot to source, it seems Liberia, Somalia, and Siera Leonne have all minted sets - and I am battling to get info on this. Our local numismatic dealers are really antisocial and unhelpful, and francly rather creepy - I'm going to the mint open-day on Sunday, that should be fun.

 

Some of you have some gorgeous copper pieces - really nice finds.

I will probably mostly be around the World Coin tangents, since that is largely where my interest lies. Anyone interested in South African coins, I'm happy to help source for you. There's a chap here somewhere who is collecting all our mint currency each year - perhaps I can buy it directly from our mint and ship for you?

Thanks