New Collector

[braden j.-migration]

Hi,

I am a new collector and have only a couple of coins in my collection. I was wondering which coins I should begin with and where I should get them?

-Thanks

[wheat'swheats]

Begin with what you like, buy from reputable dealers or from auctions, but most importantly do not buy anything until you have taken the time to learn how to grade, ID and buy coins. By that I mean learn what your series is selling for and don't depend on someone else telling you. Welcome

wheat

[cpm9ball]

Welcome to the neighborhood!

 

There is an adage that is commonly told to beginners......"Buy the book before the coin."

 

There are two books you might want to get before you dive in and start buying coins:

 

"A Guide Book of United States Coins" (commonly referred to as the Red Book) by RS Yeoman and published by Whitman Books.

 

"American Numismatic Association Grading Standards for United States Coins" by Kenneth Bressett and (also) published by Whitman Books.

 

The Red Book can tell you about every type of coin that has been used and/or produced in the US since colonial times. It also might give you an idea of coin types that might interest you. Don't rely too much on the price guides since they tend to be a bit high.

 

Of course, if you don't have some understanding of grading and how the condition of a coin can affect its value, you could be wasting a lot of your money.

 

Collecting coins is supposed to be fun, but if you start buying coins too quickly, there are people who will take advantage of your lack of knowledge, and this could be a turn-off for you. It's always a good idea to ask questions on a forum like this to avoid making mistakes. There are plenty of collectors with tons of knowledge who can help you.

 

Chris

[BillJones]

Not to brag too much, you can check out my type collections which linked on my footer. Every coin is photographed with some historical information. If you have questions, ask them here in posts or send me a private message.

[DaveG]

If you're a new collector, the first thing to do is decide which coins YOU want to collect and that is frequently determined by a combination of your interests and your budget.

 

There are a lot of coins out there: many types of US coins and all sorts of world coins.

 

There are lots of online sources for information about what kinds of coins are out there - in addition to the books that have already been recommended.

 

What sorts of coins interest you?

[braden j.-migration]

old American coins

-to DaveG

[DaveG]

braden,

 

Can you be more specific regarding dates and denominations?

 

What's old to you might not be old to someone else and if you're more specific, you might find someone who shares your interests.

[Hack]

Welcome,

 

A book that I wished I read when I first started collecting is "The Art and Science of Grading Coins". It starts with the basics and explains the grading process, and it will save you money and time. In my opinion this is a must read for any new collector. The author is Jason Poe who posts on a regular basis on the site, but my comments are not because he is a member on the site. The one negative I found about the book is that the photos of coins to demonstrate the grading process are not in color but the information in the book far out weights the none color photos. I bought the book on Amazon for about $16.00.

[braden j.-migration]

I like the 1700's but I'm pretty sure they're out of my price range

So I also like the 1920s peace dollars

-DaveG

[rrantique]

Welcome to the neighborhood!

[copper toning]

Full of recycled information from a member who's condescending attitude has ran off more than one new collector. IMO

 

PM sent for some good material

[johnny9434]

welcome to the forums. go older coins

[jpcienkus]

Whatever you decide to collect, try to be patient. Walk before you run. I would buy some lower grade coins while you're learning to familiarize yourself with the coin itself.

 

Once you find a series you like, also buy some reference material as well.

 

Welcome to the boards and enjoy yourself!

[Mr.Mcknowitall]

Full of recycled information from a member who's condescending attitude has ran off more than one new collector. IMO

 

PM sent for some good material

 

You are entitled to your opinion, same as anybody else.

 

Your consistency of discourtesy and attempts at belittlement is not an opinion, though; it is lack of manners.

[DaveG]

braden,

 

If you're interested in Peace Dollars, there's an excellent, inexpensive book you should read:

 

Link

[asdfgh]

I think Peace Dollars are a great place to start. I would buy graded ones (PCGS,NGC). Depending on your budget, I would stay away from MS63 and below for 1922,1923,1924 P's. they are way too common and people are asking as much as a MS64 in most cases.

[Davids5104]

Braden,

 

I have some advice... I have been collecting for 8 months here is some of what I learned..

 

1. I started with only graded coins, because I did not know how to grade. The good side is someone looked at these coins and gave their opinion. the bad is not all companies are equivalent, you are paying for the "grading" whether you sent the coin in yourself or not. Do not underestimate eye appeal. I now have ANA grading standards and I think it is a good book to take to shows and coin stores, but don't use it for online purchases, because cameras lie.

 

2. Just because a coin has a value of 200 dollars does not mean you pay that much. my house in Memphis is $170,000, but if it was moved to California it would be $400,000. Market dictates price not the "price guides"

 

3. I started with Mercury Dime, they are widely available in every price point, only about an 83 coin series and I think they are pretty.

 

4. This is just my opinion. Buy the best coin you can afford that you want. I would rather buy a MS65 coin for 200 than two MS63 coins for 100 each. But it depends on you. this is simply my opinion.

 

5. I also purchased coin manage software and NGC collector database to log my coins and purchase prices. Since I started with zero coins I have every coin I have ever bought logged.

 

Good luck, I hope you love this like I do

 

David

[mackbrass]

Get the top 100 modern US coins to collect. This is a great book that gives the background on each coin, value and mintages. After going through it you may find something you like as a good start. Most of the coins in the book are fairly inexpensive and highly collected. After going through it myself i discovered i really liked some of the silver eagle anniversary sets.

 

I restarted collecting last year and started with Zombucks and basic bullion. I slowly graduated to numismatic coins, mostly ASE's only after educating myself as there is a lot to learn. I have since discoverd diversity in collecting bullion, numismatic, and foreign modern bullion. I really love the Libertads amd Australian lunar series coins. Since i started i evolved my collection into bullion, slabs, foreign ASE's and some US anniversary sets like the kennedy silver set and March of Dimes sets. I have stuck to mostly modern coins after 1964. Gold is another choice to look at but are much more expensive. You should stick to silver as you can get about 70 ounces of silver to 1 ounce of gold.

 

One thing to watch is this can be very addicting, there are times i feel like coins are my drug and i need a fix to keep me straight.

[Davids5104]

one more tidbit that I was late to the game on....

 

whatever coin series you choose learn descriptive terms, meanings, and values. For example I was already buying Mercury dimes before I learned the term "Full Bands" Jefferson nickels have Full Steps with 4, 5, or 6 steps, Full bell lines for franklin half dollars, etc. Proofs have cameo and deep cameo for pcgs and ultra cameo for NGC. Ultra cameo and deep cameo mean the same thing by my understanding.

[david3142]

This David S. agrees with everything the other David S. wrote above except that nickels are only considered Full Steps with 5 or 6 steps clearly defined. The most important thing is to figure out what you like and educate yourself. Then have fun!

[rockhobby]

Jefferson nickels have Full Steps with 4, 5, or 6 steps

 

I agree with the second david, Jefferson Nickels are only recognized when having 5 or 6 steps. There are some sellers on Ebay that uses a MAC sticker on their coins to designate 4 full steps. This appears to be a marketing gimmick that no reputable TPG (Third Party Grader) would recognize.

 

 

Doug

[Davids5104]

Thanks for the clarification. There exists many of these stickers on coins that alter values within the same Mint state grade. MAC is the one I am most familiar with where it has a 90 for full bands on Mercs as well as the 4 step on the jeffersons as pointed out.

[bochiman]

Anyone even looking at something with a MAC sticker may do well to search on the PCGS boards for some threads (one in particular) about them.....as well as to do a reminder search on ACG.....

[James_OldeTowne]

Hi,

I am a new collector and have only a couple of coins in my collection. I was wondering which coins I should begin with and where I should get them?

-Thanks

I didn't read through other responses, but here are three sets I enjoy recommending to new collectors:

 

Kennedy half-dollars

Liberty nickels

Barber half-dollars

 

All are attractive collections when complete, and depending on budget level, anyone should be able to accomplish any of these sets. And coins in these series are easy to grade!