What do you look for in a coin? 1 1

[Nate Norris]

I'm pretty new to collecting and in looking around at different coins, especially early/older coins, I've noticed that all of them have different attributes, even those in the same grade.

So what do you personally look for when adding a coin to your collection? What is the sweet spot for grades? For coins in the same grade, what makes one stand out over the other to you? 

[Reno Raines]

In my case I only collect gold and silver coins so it's all about eye appeal and presentation. As far as modern coin grades are concerned only submit coins that are as close to perfection as possible wether it's MS70 for circulated coins or PF70 for proof coins.

 

However, for classic silver coins such as Peace Dollars for example, my minimum acceptable grade is MS64. For classic gold coins like a Indian Head quarter eagle my minimum acceptable grade is AU58.

 

 

Edited July 23, 2023 by Tony Follis

[Fenntucky Mike]

On 7/21/2023 at 7:28 AM, Nate Norris said:

I'm pretty new to collecting and in looking around at different coins, especially early/older coins, I've noticed that all of them have different attributes, even those in the same grade.

So what do you personally look for when adding a coin to your collection? What is the sweet spot for grades? For coins in the same grade, what makes one stand out over the other to you? 

Do you have a specific series you're talking about? Each series will have it's nuances. Without more specifics it's difficult to answer you're questions other than buy what you like and check recent sales at auction of coins in the same grade with the same characteristics to determine a fair price. 

EDIT TO ADD: If possible it's best to focus on one type/series of coin and learn as much as you can prior to making your first purchase. Randomly picking coins you know little about is a great way to waste money.

Edited July 21, 2023 by Fenntucky Mike

[Nate Norris]

On 7/21/2023 at 8:06 AM, Fenntucky Mike said:

Do you have a specific series you're talking about? Each series will have it's nuances. Without more specifics it's difficult to answer you're questions other than buy what you like and check recent sales at auction of coins in the same grade with the same characteristics to determine a fair price. 

EDIT TO ADD: If possible it's best to focus on one type/series of coin and learn as much as you can prior to making your first purchase. Randomly picking coins you know little about is a great way to waste money.

I'm looking to add a draped bust quarter and a capped bust quarter. For the draped bust, I'd probably be looking around VF20 and for the capped bust around AU55. These grades obviously aren't perfect and the coins themselves are a few hundred years old, so all of them look different. I'm trying to get a feel for what people like and don't like in these older coins, especially when you're choosing between different imperfections.

[Fenntucky Mike]

On 7/21/2023 at 9:12 AM, Nate Norris said:

I'm looking to add a draped bust quarter and a capped bust quarter. For the draped bust, I'd probably be looking around VF20 and for the capped bust around AU55. These grades obviously aren't perfect and the coins themselves are a few hundred years old, so all of them look different. I'm trying to get a feel for what people like and don't like in these older coins, especially when you're choosing between different imperfections.

Nice! Someone here will be able to help answer your questions, just not me as I don't collect either series. 

Good Luck! 

[USAuPzlBxBob]

You have to come up with a theme for your objectives and an expectation of how much you can afford to spend.

Serendipity helped me, in that my first coin just happened to whet my appetite to go for a small gold typeset.  Then, extraneous factors limited my objectives — the puzzle box could only house 14 NGC holdered coins — and I knew I wanted a rare US gold typeset, but I didn't want to go broke in the pursuit.

I discovered early on how to take photos that were pleasing to me with just a company supplied iPhone.  That set the bar for what I was looking for from dealers.  The old "you know it when you see it" adage,  when browsing online.

Glad I collected ten years ago… the coins just seemed to come my way.  Today, the pickings available are slim to none… even dealers have difficulty acquiring inventory.

[JKK]

Well, this isn't going to be much use to you, but very well.

I look for ancient and medieval world coins that are interesting to me. I am bored stupid with Constantine, Gallienus, Constantius, and other very common ancients that can be had for $8 each. I like ancient Roman and Greek, the Islamic world, Crusader coins, Byzantine, and any coin I just think is interesting for whatever arcane reasons about the way my brain works. In post-1600 coins I like world in general, especially if it's something new to me and especially Italian/German/Indian pre-unification states as well as colonials.

These aren't easy to find. There are probably a dozen local coin shows a year if one is willing to drive an hour and a half each way, and there are few ancients vendors. There are even fewer worth a billon antoninianus. In the end I end up blowing most of my annual savings at our club's coin show, where there are at least three quality ancient/world vendors each year.

[samclemen3991]

I collect Seated coins, but I can give you a few general facts and possibilities to consider.  These may or not be useful to you.  First off, ignore the phrase "original skin".  If the coin is in a grade below choice Extremely Fine there is NO way to know what has or not happened to any coin.  If the coin is in a higher grade there is about a 99 percent chance it has been dipped, lightly polished, etc.  What I look for is a coin with what I call a gun metal blue tone.  With any luck, the coin will have an underlying luster when you tilt it under a bright light.  It is wonderful but not always possible to find a coin with clean fields.  Likewise, I examine the figure of Liberty and the eagle on the reverse very closely to see if the coin has severe digs or scratches that might not be obvious at first but will drive me crazy later when it is all bought and paid for.

There are some issues such as strike that may vary from coin to coin.  If you can find a good reference book , you may be able to learn what to look at for particular dates. In this same vein, there is something I call the Easter Egg.  that is what I call it when you find a coin that has something special about it.  It may be the coin has an overdate.  The coin may have clash marks, or perhaps an interesting set of die cracks.  To me those are the things that lead me to choose one coin over another .  good luck  James

 

[Coinbuf]

On 7/21/2023 at 6:12 AM, Nate Norris said:

I'm looking to add a draped bust quarter and a capped bust quarter. For the draped bust, I'd probably be looking around VF20 and for the capped bust around AU55. These grades obviously aren't perfect and the coins themselves are a few hundred years old, so all of them look different. I'm trying to get a feel for what people like and don't like in these older coins, especially when you're choosing between different imperfections.

Draped and capped type coins are tough as so many have been abused or messed with.   Some will consider me a bit of a coin snob in some ways as I dislike lower circulated grades and damaged coins.   I can appreciate the history those coins represent, and why many collectors like those coins, the places those coins have been and stories they could tell.  But I just don't enjoy owning or viewing coins under the grade of XF most of the time.

When I'm looking for seated or earlier type coins I appreciate a CAC sticker as I know I have not seen and cannot be an expert in every series.  Knowing that the coin has been seen by one of the very best set of eyes in the industry is helpful.  That doesn't mean I like every CAC beaned coin, but it does add some reassurance and helps to avoid problem coins.

Originality and eye appeal are the key points when looking at circulated 18th century coinage.  These are the factors that are the most important for me when deciding between two or more coins of the same grade.

Edited July 21, 2023 by Coinbuf

[Sandon]

On 7/21/2023 at 9:12 AM, Nate Norris said:

I'm looking to add a draped bust quarter and a capped bust quarter. For the draped bust, I'd probably be looking around VF20 and for the capped bust around AU55.

   Early (especially pre-1837 or so) U.S. coins require knowledge and experience to evaluate. They are products of an earlier minting technology in which each die was made by punching in the devices, letters, numbers and stars with individual punches using die steel that was inferior to that used more recently. The coins were struck on hand operated screw presses on which the striking pressure could vary widely. As the dies wore, they cracked and eroded quickly and were sometimes polished or reworked in an effort to remove clash marks and other defects. Accordingly, even pieces struck from the same die pairs can vary widely in appearance. I look for the relative few that were well-struck from relatively new dies.

   I recommend that before buying examples of these series you look at a number of them, either in person at major coin shows or dealerships if you can or at least through high resolution photos such as those on the Stacks Bowers and other major coin auction house websites.  I also recommend that you obtain or refer to some references on them such as the modern reprint of the Browning reference on early quarters (The Early Quarter Dollars of the United States, 1796-1838) (or the later reference by Tompkins, which I haven't reviewed). The photos on NGC VarietyPlus and PCGS Coinfacts are also useful.  

   As a newer collector, you should only buy examples of these coins that have been certified by reputable grading services such as NGC, PCGS, and ANACS. Although I bought a number of these types of coins uncertified decades ago, the influx of fakes from Asia in more recent years combined with the much higher prices for these coins now makes certification highly advisable, especially for the inexperienced.

    Most of the surviving coins of these types have been tampered with in some way, including many of those that grading services have awarded a numerical (a.k.a. "straight") grade. Coins that are whitish or very light gray in color, show extensive hairlining, or have blotchy or cloudy toning have likely been "cleaned" in some way whether "straight" or "details" graded. I look for coins with an even brownish, medium gray or "gunmetal" coloration without underlying hairlines as likely "original". The vast majority of these coins have suffered some form of surface damage over the centuries, and the grading surfaces tend more lenient with them than with more recent series in awarding a "straight" versus a "details" grade due to nicks, scratches, and other damage. (Some of those that have been "details" graded aren't too bad looking, and I will buy such pieces for an appropriate discount, especially if they are scarcer dates.)

   Ultimately, you have to develop your own taste and not rely entirely on ours. This should make collecting more rewarding to you.

   

[GoldFinger1969]

On 7/21/2023 at 7:28 AM, Nate Norris said:

I'm pretty new to collecting and in looking around at different coins, especially early/older coins, I've noticed that all of them have different attributes, even those in the same grade. So what do you personally look for when adding a coin to your collection? What is the sweet spot for grades? For coins in the same grade, what makes one stand out over the other to you? 

I collect Saint-Gaudens gold coins (infrequently, given the cost  ) and Morgan Silver Dollars....commemoratives (more silver than gold)...and anything else that strikes my fancy.

I am partial to reverse proofs.  I'll pay up for a PF-70 or MS-70 but if the price savings on a 69 is big enough or for a 2nd or 3rd purchase, I'm going to drop down a notch in quality.

When dealing with classic coins, I am more tolerant of bag marks than noticeable dings on the edge or fields/devices.  AU-58 coins sometimes look better than low-60's coins, something we've talked about many times in these forums.

It might pay if you narrowed down the coin type since what applies to modern or recent coins in the last 40 years might not apply to classic gold or silver or small denomination coins. 

 

[GoldFinger1969]

On 7/21/2023 at 9:12 AM, Nate Norris said:

I'm looking to add a draped bust quarter and a capped bust quarter. For the draped bust, I'd probably be looking around VF20 and for the capped bust around AU55. These grades obviously aren't perfect and the coins themselves are a few hundred years old, so all of them look different. I'm trying to get a feel for what people like and don't like in these older coins, especially when you're choosing between different imperfections.

Lots of veterans here who should be able to give you some good advice.  Good Luck !! 

Edited July 21, 2023 by GoldFinger1969

[RWB]

RE: What do you look for in a coin?

Well, if it's a proof coin, you look for your reflection free of 5 o'clock shadow. 

Edited July 22, 2023 by RWB

[VKurtB]

On 7/21/2023 at 3:19 PM, RWB said:

RE: What do you look for in a coin?

Well, if it's a proof coin, your look for your reflection free of 5 o'clock shadow. 

That would require a reflection over a month old. I shaved for the last time the day I flew to Summer Seminar. I've been asked by the ANA Executive Director to take over the Society of Bearded Numismatists. I figure I qualify as an SOB Numismatist if anyone does.

[VKurtB]

On 7/21/2023 at 6:28 AM, Nate Norris said:

I'm pretty new to collecting and in looking around at different coins, especially early/older coins, I've noticed that all of them have different attributes, even those in the same grade.

So what do you personally look for when adding a coin to your collection? What is the sweet spot for grades? For coins in the same grade, what makes one stand out over the other to you? 

Here is my completely serious answer to your question. When selecting ANY coin for my collection, whatever the series, FIRST understand how that series is graded. You CANNOT get that from ANY book, strange as that may seem. You can get ideas that need further refinement that can ONLY come from studying already graded coins, HUNDREDS of them. Yes, this is a whole big pile of work. Then, once you have identified a "target" coin for your collection, understand how THAT PARTICULAR ISSUE graphs with condition on the X-axis and value/price on the Y-axis. For almost every coin, there is a "hockey stick" point where the increase in value goes far more vertical. It can be around VF condition for one series, and MS64 for another. These are the coins where you can "pick" a winner, or you can get screwed. You want a coin farther up on that graph than the seller believes it is. I short this advice as "buy right of the hockey stick at a left of the hockey stick price". That's been my system for 60 years. Also, STAY AWAY FROM WHAT"S HOT RIGHT NOW. Buy what's not on everyone's radar screen. Most of my Early American coppers were bought during generic gold and silver price bubbles. It was not a coincidence. It was a strategy.

[Just Bob]

On 7/21/2023 at 8:12 AM, Nate Norris said:

I'm looking to add a draped bust quarter and a capped bust quarter. 

I have a copy of the Browning book that Sandon mentioned above. If you have a question about a particular coin, feel free to send me a PM.

[GoldFinger1969]

On 7/21/2023 at 7:28 AM, Nate Norris said:

I'm pretty new to collecting and in looking around at different coins, especially early/older coins, I've noticed that all of them have different attributes, even those in the same grade. So what do you personally look for when adding a coin to your collection? What is the sweet spot for grades? For coins in the same grade, what makes one stand out over the other to you? 

I recommend watching (and maybe participating in) LIVE auctions and seeing coins, including ones you follow and/or bid on. The live weekly Heritage Auctions are a blast, the more Ebay-like Great Collections auctions (which usually almost end on a Sunday night) are also instructive. 

Fascinating and you can see how your skills match up with the prices paid for various grades. 

[powermad5000]

Collecting for me changed several times over the course of 45+ years of collecting. I started with little money and bought coins based upon age (because they were old). Then my finances grew. and I started to get more expensive and higher quality coins. Once third party grading started and evolved some, I made my first submission. It was a learning experience to say the least. Over the course of all those years, though, I was learning how to look at coins, look for defects, look for details, look for damage, look for fakes even. 

As of today, my collecting has changed completely from where I started. I learned as much as possible about any coin I wanted to purchase. Mintage numbers, details, and yes, looking at hundreds of different coins of the same date, sometimes even thousands of them, to find out where key factors come into play, things like details, wear, cleaning, variances, color, and luster to name a few. I'll use books to check mintages and find out where price breaks by grade come into play, I will look at ebay listings for graded and ungraded specimens (this cna be hundreds), I look at coin explorer on this site and also census reports, and I will look at coin shows. I typically have a set coin and date I am going after, so I do this research to avoid making an impluse buy which is typically where one gets burned.

My collecting now is only of MS specimens (with the exception of if I chase after a key date where MS specimens can go into the tens or hundreds of thousands of dollars). I sold off everything of lesser grade including the coins I "valued" so much when I began collecting. To me, anyone can put together a complete set of cull, G4 and sliders of a series. I want the coins in my collection to reflect what they really looked like those many years ago which is why I only go the MS route now. As for series, my collection spans most of the types the Mint produced. I do not have complete sets of anything but a lot of some like Morgans, Peace, and Mercs. I have Trade dollars, Seated Liberty halves, dimes of about all of the different series, cents from all the way back to early half cents, large cents, Barber dimes and quarters, 2 cents, 3 cent nickels, trimes, a little late colonial, foreign, ancients.....my collection is all over the place, but other than seriously old coinage, most of my US Mint issues are in MS because that is what I prefer to collect.

You have picked out specific denominations and grades you are looking for which is steps one and two of the process. If I were you, I would now decide on a year, and then look at as many examples as you can find graded (typically ebay) so you get a feel for and know what you are looking at in the chosen grade before you actually make your purchase. I do know the amount of funds you have to spend on any given coin typically becomes the number one factor when actually acquiring it, as it limits you to certain grades/specimens.

[Jason Abshier]

best advice I can give you when looking for coins or starting out ? Try buy “key date” coins they are always usually in demand … study study study and study more when you think you read enough and studied enough ? Keep on reading !!! The more you read the more knowledgeable you’ll become that’s what makes a good smart collector … read on old price market trends VS newer market trend you’ll see how coins been doing the last 20 years or so compared today … it will give idea what coins are in demand on the market …. There’s a lot to learn about coin collecting before you even purchase coins do some studying first 

[Hoghead515]

  When I first started collecting I just went for whatever. I saw an older date and didnt think about all the types of damage that was done to it, such as cleaning, whizzing, etc.  Now that Im learning more about the hobby I watch for those type things. It all depends on what type of coin Im planning to buy on what I watch for now. I try to find the most attractive, problem free coins I can find that fits my budget.                                                                                               I look for attractive rim toning. I stay away from the monster rainbow toned coins. I know they are a hot item for most collectors but they are just not my thing. I do like some of them but, very few. Im still not experienced enough to spot the ones that are artifically toned and the ones thats natural. Some are very obvious to me and some are harder for me to know the difference. I just try to stay away from them. I like the more natural look from blast white to light golden toning. I also like the light kobalt blue toning some of the nickels turn in the earlier proof sets. 

 I collect Washington quarters also. Mostly silver ones from 1932 to 1964. On them it depends on the dates. Some are very expensive and some not so bad. On the key dates out of my budget I settle for coins in circulated condition such as the 32 D and 32 S. The easier dates I look for coins that dont have unattractive dings and things like that. I also buy most of them graded. 

   I can keep going and going on what I look for depending on the types of coins I buy so ill cut this short.  I try to find the most attractive, problem free, damage free, coin I can find that fits my budget. Im still a new collector so I started reading books wrote about the main series I collector such as GW quarters and Franklin halves. They are very helpful and tell you what to look for in certain dates. 

 

[EagleRJO]

If you don't have one I would recommend getting a recent edition of the Red Book and read about the various coins.  It has a lot of good information about coins with rough pricing, including the two coins you mentioned, and Sandon provided some good advice about what to look for with older coins.

Edited July 24, 2023 by EagleRJO