Opinion 0

[JKK]

There are several key skills to develop. One is grading, most importantly the avoidance of wishful thinking in the process. If the detail ain't there, it ain't there. Two is understanding the minting process and how it has evolved, because that will tell you the difference between errors and simple damage. Three is the detection of cleaning, adulteration, and counterfeits. (Don't get scared. Deal with responsible dealers, who will always stand behind authenticity. If you buy fake or overpriced crapola on Etsy, you were warned.)

There are plenty of great books on all of the above, and none of them are worth much unless combined with looking at a lot of coins. Usually also means paying some tuition in the form of overpayment (in the case of counterfeits that would mean every cent spent, of course). A wise mentor once told me not to try to do everything at once, but to accept that some things happen gradually. One thing here that can help you is grading threads, where someone is asking about a grade. You can follow along, form your own opinion, etc. In case you're tempted to think that this is the Great Hall of Coin Wisdom, wait until you see some of the overgrading by longtimers. You will know you are getting somewhere when you can look at those and wonder what someone was smoking to think that could be EF (for example). It'll be fun, and you can also minimize your tuition by starting with much less expensive stuff.

If you decide to branch into world coins, there are some good online references so that you don't have to fork out about $150 for an obsolete set of Krause guides. You'll know you're hooked when you find yourself doing stuff like that.

[GoldFinger1969]

On 12/1/2022 at 2:58 PM, JessieJo said:

Yes I have The Red Book thanks....

Get the Whitman Morgan Silver Dollar book.....you'll probably get a Morgan or two at some time even if you don't actively collect.  A nice PL or DMPL Morgan is a nice addition to ANY collection.

I loved reading Bowers DOUBLE EAGLE book but Liberty or Saint-Gaudens coins are a big step up collecting-wise.  But if you like READING about coins, great book and easy to read.

Edited December 1, 2022 by GoldFinger1969

[JKK]

By the way, if you are tempted to look at coin videos on YouPube, that's a hard no--unless you want a heavy dose of bad information. "I watched a bunch of YT vids and then started buying coins off Etsy" are confessions of sin around here. We love playing Robin Hood, by which I mean denying scam artists new victims, and if you avoid those places then we did our numismatic good deed for the day and may have a drink, like all those who are dutiful and righteous in their daily work.

[The Neophyte Numismatist]

@JessieJo What you created in nickels is a Type set... one of each type.  You can have a lot of fun with this... The Liberty Head (V) Nickel has two types.  The first type (minted in 1883) does not have "cents" on the reverse (tails) side.  The Mint had to correct this and add "cents" to the reverse, because unscrupulous people were gold plating them and passing them off as $5 gold coins.  Since merchants were not used to seeing this coin, and it didn't say "cents"... they accepted these as $5 pieces.  These are called racketeer nickels.

This most famous person who faked these "$5 coins" was a deaf mute named Josh Tatum.  He would buy cigars for 5 cents with his gold plated nickels, and get $4.95 in change.  When he got caught and went to trial, he was unable to be prosecuted, because he never asked for the change, and never said it was $5 (he was mute).  He was acquitted.  The phrase "Just 'Joshing' you" (for just tricking you) comes from Josh Tatum.

This is what I meant before when I said that you can study each coin, and learn the cool stories that go with them.  These little tidbits make the journey fun!

I get what you are saying... being new can be frustrating, especially when some seem not nice or encouraging.  But, with some study (and the study is fun), you can improve your skills quickly.

Enjoy the journey. I am also very new in my collecting journey (I will be collecting 3 years in April).  But I have learned a lot - YOU will too.  Be proud of what you learn along the way, and soon you will be giving advice and encouraging others who want to start in this great hobby.  You can do this.  Take it slow and enjoy the ride.  Keep the faith! 

 

[JessieJo]

On 12/1/2022 at 7:09 PM, The Neophyte Numismatist said:

@JessieJo What you created in nickels is a Type set... one of each type.  You can have a lot of fun with this... The Liberty Head (V) Nickel has two types.  The first type (minted in 1883) does not have "cents" on the reverse (tails) side.  The Mint had to correct this and add "cents" to the reverse, because unscrupulous people were gold plating them and passing them off as $5 gold coins.  Since merchants were not used to seeing this coin, and it didn't say "cents"... they accepted these as $5 pieces.  These are called racketeer nickels.

This most famous person who faked these "$5 coins" was a deaf mute named Josh Tatum.  He would buy cigars for 5 cents with his gold plated nickels, and get $4.95 in change.  When he got caught and went to trial, he was unable to be prosecuted, because he never asked for the change, and never said it was $5 (he was mute).  He was acquitted.  The phrase "Just 'Joshing' you" (for just tricking you) comes from Josh Tatum.

This is what I meant before when I said that you can study each coin, and learn the cool stories that go with them.  These little tidbits make the journey fun!

I get what you are saying... being new can be frustrating, especially when some seem not nice or encouraging.  But, with some study (and the study is fun), you can improve your skills quickly.

Enjoy the journey. I am also very new in my collecting journey (I will be collecting 3 years in April).  But I have learned a lot - YOU will too.  Be proud of what you learn along the way, and soon you will be giving advice and encouraging others who want to start in this great hobby.  You can do this.  Take it slow and enjoy the ride.  Keep the faith! 

 

That is awesome... A saying I say all the time!!!! Fun facts.... Thank you for your words of encouragement.... 

[JessieJo]

On 12/1/2022 at 3:24 PM, JKK said:

By the way, if you are tempted to look at coin videos on YouPube, that's a hard no--unless you want a heavy dose of bad information. "I watched a bunch of YT vids and then started buying coins off Etsy" are confessions of sin around here. We love playing Robin Hood, by which I mean denying scam artists new victims, and if you avoid those places then we did our numismatic good deed for the day and may have a drink, like all those who are dutiful and righteous in their daily work.

Do you advance buy coins of Etsy, Amazon, ebay,ect? I have seen where they say unsearched rolls...

[JessieJo]

On 12/1/2022 at 2:31 PM, JKK said:

There are several key skills to develop. One is grading, most importantly the avoidance of wishful thinking in the process. If the detail ain't there, it ain't there. Two is understanding the minting process and how it has evolved, because that will tell you the difference between errors and simple damage. Three is the detection of cleaning, adulteration, and counterfeits. (Don't get scared. Deal with responsible dealers, who will always stand behind authenticity. If you buy fake or overpriced crapola on Etsy, you were warned.)

There are plenty of great books on all of the above, and none of them are worth much unless combined with looking at a lot of coins. Usually also means paying some tuition in the form of overpayment (in the case of counterfeits that would mean every cent spent, of course). A wise mentor once told me not to try to do everything at once, but to accept that some things happen gradually. One thing here that can help you is grading threads, where someone is asking about a grade. You can follow along, form your own opinion, etc. In case you're tempted to think that this is the Great Hall of Coin Wisdom, wait until you see some of the overgrading by longtimers. You will know you are getting somewhere when you can look at those and wonder what someone was smoking to think that could be EF (for example). It'll be fun, and you can also minimize your tuition by starting with much less expensive stuff.

If you decide to branch into world coins, there are some good online references so that you don't have to fork out about $150 for an obsolete set of Krause guides. You'll know you're hooked when you find yourself doing stuff like that.

I wonder all the time what some people should be smoking but are not... Thanks for everything you have been great 

[JKK]

On 12/1/2022 at 7:44 PM, JessieJo said:

Do you advance buy coins of Etsy, Amazon, ebay,ect? I have seen where they say unsearched rolls...

I don't buy anything off Etsy unless it's a craft from someone I know. I never buy coins off Amazon. I buy a very few off Ebay from dealers I know and have met in person (coin shows). The idea of believing any of those people saying "unsearched rolls" is beyond the pale. They are the Lucys of the world carrying footballs and looking for Charlie Brown to come kick them.

[The Neophyte Numismatist]

Almost everything has been searched.  Rolls of circulated un-searched wheat cents, etc... have 100% been searched. Especially, ones with cool "enders" - totally planted.  Rolls of Morgans "original from the Mint", same thing.  Morgans were shipped from the Mint in bags... there are no original Mint rolls.  But you will see these ads often.

Etsy is the worst.  Counterfeits and scammers run the joint.  Ebay is a little better.  But the best dealers on eBay also have their own sites/shops, and you will do better going direct.

Start small... if you get burned, you won't get burned bad.  And, feel free to ask questions here. There are enough strong collectors here, that you will get an honest opinion.  If an opinion is incorrect, someone will call that out too.

Good luck.

 

Edited December 2, 2022 by The Neophyte Numismatist
JKK and I are on the same brain wave here - ha!

[EagleRJO]

On 12/1/2022 at 9:54 AM, JessieJo said:

Thank you. I have the red book just purchased the Morgan Silver Dollar can you tell me about the black book what is the difference or is there one?

The Black Book (attached) is similar to the Red Book with some basic coin data and ball-park retail coin values.  The Red Book is a more well known and comprehensive coin collecting resource, and hands down the better general coin collector's reference. You don't need both.