Best way to start a collection

[sicnarf-migration]

I'm new to the board and would like to get more involved in coin collecting. I started buying silver proof sets, but I want to expand my collection even more. I have looked at ebay, but buying coins online takes the fun out of collecting. So my question is how did everyone else get started? I have a small penny collection from my father, but I need to know where do I start. Any help is appricated. Thanks

[Bruceswar]

Go to your local dealer... look around... see what interest you and go from there... Collect what you like... enjoy the hunt.. ask questions if need be. Good luck.

[cpm9ball]

Don't be so quick to write off eBay. Even if you live in a large metropolitan area with dozens of coin dealers in a 20-30 mile radius, you'll find that you can easily log a lot of mileage in your searches. At the least, eBay would put at your fingertips the opportunity to study tens of thousands of listings. You don't necessarily have to participate, but it can give you a "feel" for what to expect when you decide which coins hold your interests.

 

Of course, the members, here, have years and years and years of experience and they are more than happy to share it with anyone who has an interest in numismatics.

 

Good luck and welcome to the neighborhood.

 

Chris

[mhardin2413]

there are lots of good ways to begin, but you need to figure out what your parameters are:

FIRST: buy the REDBOOK!! look through it, see what coins look nicest to you, see which ones you can afford. get hooked.

then, decide how much disposable income do you have to spend on coins: if you don't have a lot, start with circulated coins that you find attractive--if you have more you might consider higher grades.

decide whether you are a person who likes to focus on one thing and complete a set (my problem--it's why i had to give up both seated dimes adn california fractional gold) for early and mod commems) or whether you like variety.

and, decide whether you are doing this primarily for fun or for investment or for roughly equal parts. for fun, then don't worry so much about rarity adn and slabs, but if you are looking to drop some money and would like to see it again, look to value over time, scarcity, color, etc.

whatever you do, HAVE FUN!!!

[TomB]

READ about the areas that interest you.

LEARN about all areas of coinage.

LOOK at as many coins as you can without buying any.

 

At some point after this you will be prepared to risk your funds.

[cladking]

Try collecting some coins from circulation. These can be fascinating and will give you an idea of what collecting really is. The cost is very nominal and it's a real challenge now days to complete even the regular issue sets. The old quarters are probably easiest but they are in the worst condition.

[Wihlborg]

Sicnarf,

 

You have been given some very good advice already. I will only add that while it may be tempting to jump in with both feet and start buying anything and everything that you now think you may like, most of the time this strategy seldom works out in the long run.

 

It is common for new collectors to want one of everything, and to base their decision on whether to buy a given coin or not on price alone. As time goes on and they learn more about different types of coins and have had a chance to see more of these different types in person they then find that their collecting interests have begun to lean in one direction or another.

 

By this time they may have amassed a large accumulation of coins that they are no longer interested in, and now want to get rid of. Worse yet, some of these coins may be over graded or problem coins because they were bought with little knowledge of coin grading or the coins themselves.

 

In my opinion, the best advice anyone can give to a new collector is that in the beginning you should look at many, many more coins then you buy. Take your time, the coins will always be there. Learn about the different types of coins you may be interested in. Learn to grade for yourself, and don’t buy a coin in a grade that you yourself cannot see the difference in.

 

For instance, if you can’t tell the difference between a MS-63 and a MS-65, don’t buy the MS-65. The MS-63 will look just a good to you and cost less as well, saving you money that could be used to buy another coin if you like.

 

Feel free to ask any questions you may think of, most of the members here are very knowledgeable and are always willing to help.

 

John

[NewbieCollector-migration]

just start with a coin that interest you.... honestly im the type that collects something for its value (this includes collectible card games, nba cards, etc. and recently coins)...but most importantly, i collect something which looks cool for me... doesn't matter if the coins' value are close to face, just as long as it looks pretty to me...and another tip is stick to the budget.... i haven't tried purchasing anything from ebay coz im still not familiar with the system.... i don't want my precious $$$ be scammed.... going to shops (or in my case here in the Philippines, gypsy looking vendors in manila) is fun... coz you get to check the coins at hand before buying them and you can haggle with the price (!)... recently i've purchase a 1907-s US-Philippines 1 peso silver for just about $5 and the condition is very nice almost unc....

 

 

btw...anyone here who could help me with a 1900-o morgan? how much would it worth say the coins has the lowest grade to start with? tnx

[James_OldeTowne]

An excellent way to jump-start is to go to any typical coin show and pick up some partial Whitman sets. To this day, I enjoy picking up partial sets and working on them (for resale, in my case). Recently, I picked up a partial Indian head cent for - get this - 10 bucks! And it INCLUDES one flying-eagle and a couple of 1860s bronze coins! Granted, most of the coins are pretty sad, but if you're just starting out, that's what you want - low cost, and plenty of bang for the buck.

 

Oh, and welcome to our friendly little neighborhood!

 

James

[IGWT]

As you can tell from the various responses, sicnarf, the manner and method of collecting is particular to each of us. So, take or leave the following advice:

 

(1) Read, study, and learn about numismatics for a good long while before you even think about purchasing your first coin.

 

(2) Find a subject or series that fascinates you for whatever reason, e.g., the artistic merit of a design, a particular period in history, the minting process, the biography of a particular engraver. This list is bound only by the breadth of your imagination. The subject that you choose should be one that intrigues you and demands your attention. Don't be a slave to the traditional concepts of collecting by series or type (though there is nothing wrong with collecting in this way, of course, so long as it is what you choose).

 

(3) Design a set that will allow you to explore and to express your interest. I think of a collection as a story told by coins, and selecting the right coin for your collection -- for the story that you want to tell -- is like choosing the right word to express an idea. The storyline brings cohesiveness to the collection in which each coin contributes to the meaning of the others.

 

(4) The set that you design should present a true challenge regardless of the funds that you have available. It's far too easy to spend money on coins; make it harder to spend money by setting goals that are difficult to attain.