Popular Post Moxie15 Posted April 2, 2021 Popular Post Share Posted April 2, 2021 I think we all understand the term so gives us one or two of your numismatic rules of thumb. Just to start it... 1. If it is being sold on TV it is likely overpriced 2. If you need to ask if it is a mint error it most likely isn't 3. If I own it it is not worth much Hoghead515, Lem E, GoldFinger1969 and 6 others 9 Link to comment Share on other sites More sharing options...
Popular Post JT2 Posted April 2, 2021 Popular Post Share Posted April 2, 2021 what about DO NOT BUY FROM ETSY!! or China. #1 never buy from Mike the huckster!!! Lem E, Henri Charriere, Modwriter and 3 others 4 1 1 Link to comment Share on other sites More sharing options...
Popular Post Woods020 Posted April 2, 2021 Popular Post Share Posted April 2, 2021 A few top of mind 1. Financially not worth grading unless the coin is worth say $150 or more. Sentimental reasons excluded. 2. Never assume someone selling a coin is telling you the truth. Either purposefully or out of lack of knowledge coins may be cleaned, counterfeit, etc.. 3. never trust grades other than from the reputable TPGs (NGC, PCGS, ANACS). If it’s another grading company or a raw coin someone graded themselves do your own homework. It’s your responsibility to verify. And even graded coins some are under/over graded. Know before you buy. Modwriter, Lem E and Coinbuf 3 Link to comment Share on other sites More sharing options...
Popular Post GoldFinger1969 Posted April 2, 2021 Popular Post Share Posted April 2, 2021 (1) If it is on TV, it is usually selling at about 30% over FMV. Caveat Emptor...... (2) While it doesn't pay to grade coins under $100 and certainly under $50, it nonetheless might be good to buy a graded and slabbed coin since the grade and protection are worth something. If a Morgan Dollar is worth $50 in the condition I want...and I can buy it raw for $50 or buy it as MS-63 graded/slabbed for $80.....I'd rather buy it for $80. (3) Best places to buy online: Ebay (but only less-expensive stuff from good sellers with return policies and/or buying actual graded/slabbed items and not something similar to generic pics)......Heritage (the best but pricey).....Great Collections (outstanding and a bit cheaper than HA).....Stacks-Bowers (if you can't find it at HA or GC)....and the foreign/ancient sites (a bunch of 'em). Lem E, RonnieR131 and Coinbuf 2 1 Link to comment Share on other sites More sharing options...
Coinbuf Posted April 2, 2021 Share Posted April 2, 2021 1) Someone else will always have deeper pockets. 2) Buy quality over quantity. 3) Do not buy the hype, the brand of plastic does not make a coin better. 4) Do not overreach for a coin unless its a once in a generation opportunity, another coin will come along. Lem E 1 Link to comment Share on other sites More sharing options...
Greenstang Posted April 2, 2021 Share Posted April 2, 2021 “Buy the book before the coin.” In other words know what you are doing before jumping into this hobby. It can be costly if you don’t. Modwriter and Lem E 2 Link to comment Share on other sites More sharing options...
Popular Post RWB Posted April 2, 2021 Popular Post Share Posted April 2, 2021 #1 Never shuck oysters while examining your proof coins. #2 Repeat #1. GoldFinger1969, Modwriter, JT2 and 1 other 3 1 Link to comment Share on other sites More sharing options...
Popular Post Hoghead515 Posted April 3, 2021 Popular Post Share Posted April 3, 2021 Here's one I learned to live by. If it sounds too good to be true then it is. Also never trust your lying eyes. GBrad, Modwriter, JT2 and 1 other 4 Link to comment Share on other sites More sharing options...
Popular Post Modwriter Posted April 5, 2021 Popular Post Share Posted April 5, 2021 On 4/2/2021 at 9:28 AM, JT2 said: what about DO NOT BUY FROM ETSY!! or China. #1 never buy from Mike the huckster!!! (Stands up) My name is Mike. I am not huckster. I do not buy or sell on Etsy. (Sits back down) 😉 Henri Charriere, JT2 and Lem E 2 1 Link to comment Share on other sites More sharing options...
Popular Post Conder101 Posted April 5, 2021 Popular Post Share Posted April 5, 2021 On 4/2/2021 at 12:09 PM, Moxie15 said: 1. If it is being sold on TV it is likely overpriced Remove the word "likely". Alex in PA., Henri Charriere, Lem E and 3 others 6 Link to comment Share on other sites More sharing options...
Crawtomatic Posted April 5, 2021 Share Posted April 5, 2021 (edited) 1. 3c worth of copper is better than 1c worth of zinc. 2. If you see it on a coin (or card, or comic, or MOC action figure) then the grader will too. Be honest with yourself first. Edited April 5, 2021 by Crawtomatic spelling correction Lem E and Hoghead515 2 Link to comment Share on other sites More sharing options...
Popular Post GBrad Posted April 6, 2021 Popular Post Share Posted April 6, 2021 I saw this thread the other night but decided to compile my thoughts before posting. With all due respect to newcomers (which we ALL were at one point) who enjoy this incredible hobby and have joined this forum to learn and progress in their numismatic skill set I submit the following: 1- A newcomer following a newcomer is like the blind following the blind.....it never works. 2- Indulge yourself in the tremendous amount of information available on the internet and you will learn more, and learn faster, than you ever imagined. 3- Newcomers, PLEASE listen to, and don't argue with, the Professionals on this forum. Learn from them. This is the way you will become more educated and progress. Just my 2 cents worth on "Rule(s) of Thumb"........ GoldFinger1969, Henri Charriere, Hoghead515 and 2 others 5 Link to comment Share on other sites More sharing options...
Popular Post Lem E Posted April 6, 2021 Popular Post Share Posted April 6, 2021 Verify certification numbers on graded coins. (Preferably before you buy) Always try to find multiples of a coin you are thinking about purchasing for comparison. Don’t just buy the first one you find. If you really like the coin, go for it. GoldFinger1969, Modwriter and Hoghead515 3 Link to comment Share on other sites More sharing options...
Popular Post Conder101 Posted April 6, 2021 Popular Post Share Posted April 6, 2021 If you have to "talk yourself into buying" a particular coin.....don't do it. I have talked myself into buying several coins, and have always regretted it. Hoghead515, GoldFinger1969, Alex in PA. and 2 others 5 Link to comment Share on other sites More sharing options...
Hoghead515 Posted April 6, 2021 Share Posted April 6, 2021 9 minutes ago, Conder101 said: If you have to "talk yourself into buying" a particular coin.....don't do it. I have talked myself into buying several coins, and have always regretted it. I regret buying that buffalo nickle with the scratch on it. Which brings me to another rule. Always inspect it thoroughly. I thought that was a die crack till u said scratch. Then looked closer and it was a scratch. Modwriter 1 Link to comment Share on other sites More sharing options...
Modwriter Posted April 6, 2021 Share Posted April 6, 2021 Dont grade coins when your eyes are tired. I went through a security company roll of dimes last night and found 4 that I wanted to holder. I had put them in holders and stapled them. I did one last check with my loupe before boxing and one of them had the tiniest mark that got by me. Hoghead515 and GoldFinger1969 2 Link to comment Share on other sites More sharing options...
Moxie15 Posted April 10, 2021 Author Share Posted April 10, 2021 Just because it old does not mean it is valuable Modwriter and Hoghead515 2 Link to comment Share on other sites More sharing options...
