RESOURCES FOR NEW COLLECTORS 1 1

[Sandon]

 Preface:  Experienced collectors who participate in this forum frequently endeavor to answer the questions of very new collectors who have little or no knowledge about coins.  It is sometimes difficult to answer such questions without providing a very detailed explanation or leaving these collectors with an incomplete understanding of the issue.  What follows is a modified version of an article I wrote for new collectors who join my local coin club.  New collectors whose posts indicate a need for basic numismatic education could be referred to this posting so that they will have sufficient knowledge to ask good questions.  As the resources I mention are hardly comprehensive, other members of the forum are welcome to add their recommended resources and other comments.

SOME RESOURCES FOR NEW COLLECTORS

   Here are my suggestions for you as a new or returning collector regarding essential publications and online resources that will help you to learn about and enjoy U.S. coins and how to minimize ill-informed decisions in buying them in the contemporary numismatic market. There is a wise saying, "buy the book before the coin." I will also inform you regarding some of the websites and places you can purchase these materials. (I have no financial interest in any of the mentioned publications or companies, and they are not intended as an exhaustive list.) 

Printed Resources and Where to Purchase Them

   You should both read and carry wherever you may wish to view or purchase coins a recent standard (not for this purpose the very heavy deluxe or "Mega Red") edition of A Guide Book of United States Coins, usually referred to as the "Red Book." The standard Red Book is widely considered to be the best basic and portable guide to U.S. and colonial coinage and commonly collected territorial issues and tokens, with generally adequate historical information, photos, and basic (though not up to date) retail pricing for the most commonly collected grades of each date, mint and commonly collected variety of each series. 

   Another essential book with which you should familiarize yourself and carry wherever you may purchase coins is a grading guide that includes both good quality photographs and descriptions of each adjectival grade from Poor through Uncirculated. I recommend The Official American Numismatic Association Grading Standards for United States Coins (7th ed. 2013) (the "ANA Grading Guide"). Other photographic grading guides that are currently in print include Grading Coins by Photographs by Q. David Bowers (2d ed.), which I haven't reviewed, and Making the Grade, which I understand to be a reprint of the articles on grading specific series published monthly in Coin World, which has good photos and descriptions but may not cover each grade, although unlike the ANA Grading Guide it does show photos of examples of some uncirculated coins in different numerical grades. 

   You should also carry a current retail pricing guide anywhere you may consider purchasing coins. As the Red Book is published in April of the year prior to the date of the edition, it is not good for up-to-date pricing. It also does not price all adjectival grades for all series. Although to my knowledge the only complete pricing guides for adjectival and numerical grades are online, there are several decent guides printed monthly. I use Coin World's monthly Coin Values as well as the quarterly CPG Coin & Currency Market Review, which is currently distributed free at our club meetings and some coin shows. Coin Values is a strictly retail guide, while the CPG guide tends to include somewhat--but not always--lower prices that may be negotiated between dealers and collectors. I understand that the monthly edition of Numismatic News also includes a listing of retail prices, as does Coin Prices magazine. Bear in mind that list prices vary from guide to guide and that the price for any coin offered by a dealer or realized at auction may be higher or lower than that listed in any guide.  

   Both Coin World and Numismatic News contain news articles about new mint issues and developments in the numismatic market, as well as educational articles about coins and currency, their grading, preservation and other important topics, as well as dealer advertising for coins, currency and supplies. I recommend a subscription to at least one of these publications. Coin World usually offers an annual subscription to the print issues of its monthly edition, plus online access to its weekly and monthly editions and other resources for a reasonable price at www.coinworld.com/subscribe. Subscribers to Coin World are eligible to receive discounts on numismatic books (including the Red Book and Making the Grade), albums and supplies at www.AmosAdvantage.com. Subscriptions to Numismatic News are available at www.numismaticnews.net, from which Coin Prices magazine is also available.

   The Red Book, the ANA Grading Guide and Collecting Coins by Photographs can also be purchased at retail from their publisher, Whitman Publishing, LLC, www.whitman.com. Whitman also sells other books, a popular line of coin albums, and coin and currency supplies. These publications may also be available from bookstores, at larger coin shows, and from online retailers.  

   If you intend to become a serious collector, I do recommend buying from time to time--not each year--the "Mega Red" edition of the Red Book, which at 1,500 pages contains substantially more information about the various series of coins than the 364 page standard edition. (Each year's edition of "Mega Red" features a 500 or so page in depth study of one denomination, which has sometimes been republished as a separate book.) There are entire books dedicated to most U.S. series in which you may decide to specialize. You may also join the American Numismatic Association (www.money.org) (the "ANA") whose members receive (in print or online) The Numismatist, a more scholarly publication, and other benefits.

Online Resources

   Two of the leading grading services, NGC (www.ngccoin.com) and PCGS (www.pcgs.com), offer valuable resources through their websites without charge. Except as otherwise indicated, each of these services is accessible through the "Resources" tab at the top of the NGC home page or the pertinent tab at the top of the PCGS home page.

   PCGS Coinfacts ("Coins" under "Facts" tab) provides a fairly comprehensive guide to U.S. coins by series, date and mint, and variety, complete with high resolution photos of coins of such issues and varieties that PCGS has graded. (There is now also a PCGS Notefacts for currency, but for now it only contains basic information about currency grading.) NGC has a similar guide, the NGC Coin Explorer, whose sophistication now approaches that of PCGS Coinfacts, though in my opinion PCGS still has better photos. 

   The PCGS website offers a comprehensive photographic online grading guide ("PCGS Photograde") which is accessible farther down in the home page, under "PCGS Resources" then "Photograde", as well as from the bottom of the home page under "Resources".

   Both grading services also offer comprehensive and frequently updated price guides for certified coins in each numerical grade from 1 to 70 where the coins are known to exist.

   The PCGS "Population Report" and the NGC "Census" provide information as to how many of a particular coin issue have been graded by the pertinent service in each numerical grade.  The NGC Census includes a separate listing for "problem" coins that were adjectivally graded.  

   Both services also allow collectors to create "registry sets" of their certified coins in which they may display photos and descriptions of their certified U.S. and world coins and may compete with other collectors for points and awards. NGC permits both NGC and PCGS certified U.S. coins on its registry (but only NGC certified world coins), while PCGS only allows PCGS certified coins.

   You will find additional educational resources (videos, guides to collecting specific series, etc.) at the grading service sites. Another source for such resources is the ANA website, www.money.org, which you should explore. There are numerous other online resources of varying quality for both new and more advanced collectors of many specialties, about which you should learn as you progress. 

 

 

[Thatlilpennyguy]

Look I don't remember saying I was vary taught what is or is not the correct terminology for the cent or penny. I guess it's all in where you hail from sir or ma'am ive been interested for quiet some time now. How ever the man at the coin shop didnt even look at any of it he just spit out price because he can't speak English to save his life. He's Russian or Ukrainian. But it's no wonder this is a dieing hobby with people like you acting all snooty like you were born with everything you know now... Good day

[J P M]

On 8/24/2022 at 5:34 AM, Thatlilpennyguy said:

Look I don't remember saying I was vary taught what is or is not the correct terminology for the cent or penny. I guess it's all in where you hail from sir or ma'am ive been interested for quiet some time now. How ever the man at the coin shop didnt even look at any of it he just spit out price because he can't speak English to save his life. He's Russian or Ukrainian. But it's no wonder this is a dieing hobby with people like you acting all snooty like you were born with everything you know now... Good day

. Welcome, Thatlilpennyguy. There are many members that Sandon has helped with his knowledge. You will find many members here are well informed and are always ready to give a helping hand. I want to say don't be to quick to judge there is lots to see and learn. I know I find something new everyday and I have been around for a while. Good luck in your coin ventures. Just ask if you have a question on something.

Edited August 24, 2022 by J P M

[EagleRJO]

Welcome PennyGuy.  I agree with JP, don't be so quick to judge.  Sandon is a very experienced collector who has essentially donated his time to help me, and other collectors, tremendously with detailed answers to sometimes pretty involved questions or issues I have had as a newer collector, reviewed raw coins I was either interested in or where I had questions about grade, authenticity etc. and has provided advice on references and resources for people just starting out in this hobby, with quite a few of the latter lately and thus I think the reason for this post.  Heck, I'm sure he would even be willing to help you out if you had questions about say, I don't know, pennies? 

[GBrad]

Been a minute or two since I posted, or even logged on here. Unfortunately, the first thing I see is a newb (referring to "that lil penny guy") getting an attitude and all smart mouthed at a seasoned coin collector trying to help out.  I would urge you to lose the attitude, be much more respectful, and realize that none of the knowledgable veterans on this forum are getting paid, or receiving ANY benefits whatsoever, to help people out like yourself. We gladly donate our time to help others, but with attitudes such as yours, and so many that came before you, it really makes me wonder why we even try sometimes..... Good day.

[The Neophyte Numismatist]

I read this thread and wasn't connecting the dots... why would @Thatlilpennyguy get so upset over resources?  I see that this stems from another thread regarding a worn, plated cent.  My advice is to the OP is to try to keep an open mind, and stay objective.  Focus on learning the terms and the minting process.  This will help you a LOT when you talk to other collectors and dealers, as you will have much more credibility.  

The first response you received on your "Silver 1900 Penny" thread came from @DWLange, a published numismatic author and numismatic researcher at NGC, how much more of an expert would you want?  Understand that some of the folks on these boards are highly respected experts, dealers, authors, and collectors.  Folks like David Lange are opinions (better stated "facts") you can trust.

I am a newer collector.  I try to help other new collectors.  I try not to be condescending or put down coins I don't agree are collectible.  Sometimes this place can be a little gruff, but your thread (and this one) are really not.  This current thread that @Sandon has written is actually an excellent starting point for any new collector.  There are many more resources beyond this has you grow in knowledge and skill.  Your options in this hobby can be endless.  I am no expert, and I also learn from this site (and other resources).

Again, my advice is... Do not close doors for yourself before you even start.  We all get passionate sometimes, but start over (this is your second post so come-in and get to know the "room"), show-up with an open mind, and you can fill that open space with some very interesting (and useful) information.

I wish you luck in the journey to attain numismatic knowledge.  It's an important and fun one!

Edited August 25, 2022 by The Neophyte Numismatist

[Sandon]

   I regret that @Thatlilpennyguy took offense at my attempt to explain Mr. Lange's response on the "Ask NGC/NCS" forum that his "1900 silver penny" was a worn and then plated Indian cent and to steer him to resources that might increase his knowledge.  No, I wasn't "born with everything I know now" about coins. I learned by reading coin books, periodicals and auction catalogs, by speaking with experienced collectors and dealers, and by studying the coins themselves.  His "penny" accumulation could contain some legitimately rare pieces, but he might not be able to recognize them without similar study.

   I had hoped that responses to my original post would name additional resources that might be of use to new or even more advanced collectors.  Does anyone have any?

Edited August 25, 2022 by Sandon
unwanted italics

[EagleRJO]

On 8/25/2022 at 1:24 PM, Sandon said:

I had hoped that responses to my original post would name additional resources that might be of use to new or even more advanced collectors.  Does anyone have any?

As a newer avid collector (previously just pocket change and roll hunting) I recently purchased a copy of the Coin World Almanac (in addition to the Red Book and ANA Grading Standards which I have), initially because it has tables with mint specifications and tolerances for US coins starting with 1793 to check out coins I am interested in or have purchased to review (weights, diameters, thickness, composition, etc.), but I am finding it a really good book about coins in general.

Also since grading coins is so important, I would add the "Official Guide to Coin Grading and Counterfeit Detection" 2nd Edition.

And for specific coins Bowers writes an excellent series of books on various types of coins as a companion to the Red Book, and I really like his (Official Red Book) Guide Book of Morgan Silver Dollars since I am working on a complete set of those coins. 

Edited January 5 by EagleRJO

[GoldFinger1969]

Any beginner or newcomer here can simply create a thread...tell us what they have interest in....and then ask where to find information on those coins here, elsewhere, in print, etc.

[pigeonman333rd]

On 8/24/2022 at 2:34 AM, Thatlilpennyguy said:

Look I don't remember saying I was vary taught what is or is not the correct terminology for the cent or penny. I guess it's all in where you hail from sir or ma'am ive been interested for quiet some time now. How ever the man at the coin shop didnt even look at any of it he just spit out price because he can't speak English to save his life. He's Russian or Ukrainian. But it's no wonder this is a dieing hobby with people like you acting all snooty like you were born with everything you know now... Good day

Why the bad vibes dude he was just trying to help

[VKurtB]

On 11/13/2022 at 12:03 PM, pigeonman333rd said:

Why the bad vibes dude he was just trying to help

There are too many threads with this attitude, and that’s what poisons MY attitude. 

[pigeonman333rd]

This Post has been requested to be deleted by Author. I Hope I did it right this time. 

 

 

Edited December 4, 2022 by pigeonman333rd
This post has been requested to be deleted by author

[GoldFinger1969]

PERSONAL REFERENCE NOTES & ARTICLES:  I just wanted to say something to newcomers about the information you see here, other sites, and articles.

Preserve them !!  

Let me explain.  We know that most of the internet is permanent, but you NEVER KNOW when something will be lost...a website is re-booted...shut down....old articles are taken down.....or it's still on the internet but you can't find it.

In these cases, Cut-And-Paste and SAVE AS PDF are your 2 best friends.  I cut-and-past entire articles, paragraphs, and posts and save them on my PC.  That way, I always have them.  Most of the stuff I save is on Saint-Gaudens Double Eagles but I have stuff on general coin pricing trends, Heritage Auctions commentaries, Great Collection auctions, Morgan silver dollars, Price Graphs, coin bubbles, old auctions, etc.

I have lots of information from 1 or 2 sentences long.... to entire paragraphs...to entire articles....to entire threads here @ NGC Forums.  I will save it in a Word Document if short; if longer, I will save it as a PDF.  Some of the threads here -- 75 pages and counting, some shorter -- I save every 5 pages or when enough time has passed and new posts are present.

Maybe I'll never use most of this information, but I do find it interesting and I will go-back and read my old notes from time-to-time.  One of my Word Docs is on Hoards and I have been posting snippets in the shorter Wells Fargo Thread.  If anybody asks in the future about Saint hoards for a particular year, there's a good chance I have it in my notes.  

If you see a Coin Week or CoinWorld article....don't assume it will always be accessible.  If you think you want to read it again in the future, either save the key portions or PDF the entire article onto your PC.

Edited December 2, 2022 by GoldFinger1969

[pigeonman333rd]

Pardon me, I deleted this post because Sandon the author of this chat asked me to delete it. Thanks for the help Sandon.

[GoldFinger1969]

BTW, they are now up to the 7th Edition for the Bower's MORGAN SILVER DOLLAR book.  Wish someone would do a 2nd one for DOUBLE EAGLES. 

Edited December 14, 2022 by GoldFinger1969

[Seamus8]

Sandon,

Thank you so much for your article on coin grading. Needless to say, it was extremely helpful. I ordered the Red Book "Guide to U.S. Coins" today. I joined PCGS and have been exploring their website.

I have a lot of reading to do and a lot to learn, that's for sure.

Thanks again,

Seamus

[Shygirl2020!]

On 8/24/2022 at 10:09 AM, GBrad said:

Been a minute or two since I posted, or even logged on here. Unfortunately, the first thing I see is a newb (referring to "that lil penny guy") getting an attitude and all smart mouthed at a seasoned coin collector trying to help out.  I would urge you to lose the attitude, be much more respectful, and realize that none of the knowledgeable veterans on this forum are getting paid, or receiving ANY benefits whatsoever, to help people out like yourself. We gladly donate our time to help others, but with attitudes such as yours, and so many that came before you, it really makes me wonder why we even try sometimes..... Good day.                                           I appreciate it. 

any kind of input would be helpful. Unfortunately, even though I work everyday. At the moment, I don't have money to buy any books. if you know of any online resources that would be beneficial that would be great. : )

I've been on here for a very short period of time. I hope you don't mind me sticking my 2 cents in? You guys seem pretty down to earth to me.  I like the fact that you didn't make your memberships so expensive that I should be able to afford it. And I rather enjoyed your crypto discussion, even though it was more financial than crypto really. lol. I was going to add my crypto story, but not many believe it is true even though I have pictures to back it up. Transaction hashes and everything. Still couldn't get my money back. when you invest it can be a risky. you got to live and learn. So, I no longer invest my hard earned money. I'll mine for free, but that is it.  Let me ask a question, please?  I inherited some coins. Might be 1 or 2 of them worth some money. got quit a few 1964 Kennedy half dollars, got a few

1970 proof sets. some Morgan and Piece dollars. A few Indian head pennies, Some buffalo nickels, Mercury dimes, And some foreign coins. Can you tell me what would be worth sending in to have it graded. I was thinking about auctioning some stuff on ebay. Maybe it would help me determine the actual prices of the coins. So many different prices. So many different errors. How do you know something is a valid mint error and how much is it worth. I am willing to walk the walk if showed the way to go. any guidance and I will run with it. Life without guidance is like building something without instructions. I know, because I've figured most things out myself, but with a little guidance I might be able to go that much farther. any helpful knowledge is appreciated. Thank you!  Any thoughts about these? If not maybe just a few ideas about things I can research or look into. even having knowledge of where I can look at the information with legitimate information in it. Or you can just move it into the trash. It started with good intentions. I guess giving all your secrets away. wouldn't be very lucrative. anyway, here are some of my beginner coins.  have a good day!   Read this page from the bottom to the top. It was a good read. Thank you for the information. any other helpful info, is highly appreciated. Thank you!

[Reno Raines]

On 8/16/2023 at 3:31 AM, Shygirl2020! said:

I've been on here for a very short period of time. I hope you don't mind me sticking my 2 cents in? You guys seem pretty down to earth to me.  I like the fact that you didn't make your memberships so expensive that I should be able to afford it. And I rather enjoyed your crypto discussion, even though it was more financial than crypto really. lol. I was going to add my crypto story, but not many believe it is true even though I have pictures to back it up. Transaction hashes and everything. Still couldn't get my money back. when you invest it can be a risky. you got to live and learn. So, I no longer invest my hard earned money. I'll mine for free, but that is it.  Let me ask a question, please?  I inherited some coins. Might be 1 or 2 of them worth some money. got quit a few 1964 Kennedy half dollars, got a few

1970 proof sets. some Morgan and Piece dollars. A few Indian head pennies, Some buffalo nickels, Mercury dimes, And some foreign coins. Can you tell me what would be worth sending in to have it graded. I was thinking about auctioning some stuff on ebay. Maybe it would help me determine the actual prices of the coins. So many different prices. So many different errors. How do you know something is a valid mint error and how much is it worth. I am willing to walk the walk if showed the way to go. any guidance and I will run with it. Life without guidance is like building something without instructions. I know, because I've figured most things out myself, but with a little guidance I might be able to go that much farther. any helpful knowledge is appreciated. Thank you!  Any thoughts about these? If not maybe just a few ideas about things I can research or look into. even having knowledge of where I can look at the information with legitimate information in it. Or you can just move it into the trash. It started with good intentions. I guess giving all your secrets away. wouldn't be very lucrative. anyway, here are some of my beginner coins.  have a good day!   Read this page from the bottom to the top. It was a good read. Thank you for the information. any other helpful info, is highly appreciated. Thank you!

I wouldn't submit any of the coins pictured. When submitting coins only submit coins that have a raw price guide value of at least $350.00 - $400.00 which covers all of the grading fees plus you should be able to make a profit when you decide to sell your coins.

[Sandon]

@Shygirl2020!--Please post questions about your coins as new topics. This topic is for print and online books, publications and other resources to educate new collectors. Most forum members won't see your post here. However, if you had referred to these resources, you would know that your circulated 1945-D Lincoln cents are worth 5 cents apiece at retail. The other coin appears to have been squeezed against another coin in a vice and is not a mint error.

[samclemen3991]

I don't know how specific you want posters to be but there are three web-sites I use a great deal.

The first is the Liberty Seated Collectors Club.  If you go to their site and look under online references you will find a number of books about Seated coins.  There is also a monthly news letter with many back issues available.  All free.

If you like Bust Half Dollars there is a site called Dave's Bust Half Dollar Site.  It has pictures and written descriptions of every bust half die marriage.  Free.

Finally there is something called the Newman Numismatic Portal.  This site is also free .  I will be honest though.  This site can be harder to navigate, (At least it has been for me) but contains a SEA of coin information.  Good luck.  James

[Shygirl2020!]

On 8/16/2023 at 9:40 AM, samclemen3991 said:

I don't know how specific you want posters to be but there are three web-sites I use a great deal.

The first is the Liberty Seated Collectors Club.  If you go to their site and look under online references you will find a number of books about Seated coins.  There is also a monthly news letter with many back issues available.  All free.

If you like Bust Half Dollars there is a site called Dave's Bust Half Dollar Site.  It has pictures and written descriptions of every bust half die marriage.  Free.

Finally there is something called the Newman Numismatic Portal.  This site is also free .  I will be honest though.  This site can be harder to navigate, (At least it has been for me) but contains a SEA of coin information.  Good luck.  James

Thank you!

[Shygirl2020!]

On 8/16/2023 at 7:03 AM, Sandon said:

@Shygirl2020!--Please post questions about your coins as new topics. This topic is for print and online books, publications and other resources to educate new collectors. Most forum members won't see your post here. However, if you had referred to these resources, you would know that your circulated 1945-D Lincoln cents are worth 5 cents apiece at retail. The other coin appears to have been squeezed against another coin in a vice and is not a mint error.

Thank you!

[powermad5000]

@Sandon, for your online sources (considering the amount of questions we get on here about errors and DDO's), new or returning collectors should familiarize themselves with error-ref.com (for errors),varietyvista.com (for verifying DDO's, DDR's and other varieties), NGC's VarietyPlus (on this page), and for print resources, the Cherrypickers' Guide Vol. 2 Sixth Edition by Bill Fivaz and J.T. Stanton published by Whitman Publishing (for print reference of die varieties).

[EagleRJO]

I wanted to add two books which I think are excellent references considering how many questions are posted on the board about errors and varieties.  This  includes the Cherrypickers Guide Vol 2 mentioned by PowerMad and the Official Price Guide to Mint Errors, with photos of the covers attached.