jimij

Hello everyone ,

Just wanted to say hi and ask a quick question. I'm very new to coin collecting and I'm more of a historian. I love everything about history and read a lot of books on different subject matters pertaining to history in general. Anyway to get to the point. I've always liked coins , but have never got serious about collecting them. I have only a handful of coins and I would like to get into collecting them more. I'm not getting into this to make a profit or for investment , but merely because of my fascination with history. I have a few questions if anyone is willing to take the time to answer them.

First is there any coin book in general that gives a good outline of the different types of coins and their approx value. Plus maybe a general idea how to judge the grade of the coin.

I've been perusing Ebay and have noticed lots of coins that I would like. I would prefer to get the best quality coin when making a purchase , but am extremely terrified of being ripped off by people who alter the coins or their images and those who overprice their coins.

For instance here is one that to me looks like an excellent coin. Its an 8 reale on ebay ( link below ) From what I can gather the average price for these coins in good condition is about 95-100 dollars. Is paying $200.00 extremely high for this coin. Also when people claim to have had a coin professionally graded is there anyway or website that you can check to insure the claim , or grading company listed , is a legimate grader.

Here's the link: http://cgi.ebay.com/ws/eBayISAPI.dll...ayphotohosting

For a newbie I sure have a lot of questions. Its just so daunting to try and get into coin collecting. Especially when so many people do it strictly for monetary reasons instead of just the pure joy of coin collecting.

Speedy

Welcome to the forum!

I would stay away from that coin for a few reason....number one is that its not professionally graded....when looking for graded coins stay only with the top 4 grading companys....PCGS or NCG or ANACS or ICG.
Untill you learn to grade I wouldn't buy coins from anyone else.
The other reason is that payment has to be immediate---why can't he wait a week for a check to come....that is not something I would want to get into.

Speedy

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jimij

Thanks for the response. I haven't actually bought any coins off of Ebay yet. It appears hardly any coins on ebay have been professionally graded so all I really have to go off of is how good the coin looks in the picture? To me that coin looks exceptional , but since I have no real experience in coins I'll take your word for it. Which leads to the next question. Where is a good location that is reputable to purchase coins?

And again thanks for the response.

Cloudsweeper99

I think it is easier to get ripped off buying coins than perhaps any other purchase you can make except maybe bridges. Ebay probably isn't the place to start if you intend to spend a few hundred dollars per coin. The 'trap-to-bargain" ratio there is about 10 to 1. Spend about a month reading things on this site before making a purchase and you will save yourself a lot of grief. The search function on the site works incredibly well. Ask a lot of questions and you will receive a lot of helpful advice. Don't buy impulsively. Don't be afraid to bypass a deal because there is always something else available for purchase. Know what you want and what it should cost before bidding or buying.

I've learned a lot from the people here and I'm certain you will also. It's very enjoyable.

jimij

Thanks for all the good advice. I've already been reading many of the posts in this forum and plan on learning a lot here.

I don't mind paying a little extra if the coin is in excellent condition. Just don't want to get ripped by buying a coin that has been doctored or overly cleaned just to look good in a auction. I was all willing to buy that coin for $200.00 considering how good it looks. Its still biting at my nerves since it appears to look better then almost all of the coins of the same type currrently posted. It appears from the sellers previous sales that he has sold a tons of those coins , but a simple search for the grading firm he declares comes up empty.

Right now I'm dead set on getting an 8 reale coin from between 1600-1800. Any ideas where I can purchase one? Any reputable sites? Where do most people get their coins from? Is this a record for questions asked in one sentence?

GDJMSP

Howdy jimji - Welcome to the Forum !!

Re: the coin you posted about - I wouldn't pay $50 for it. Nor would I pay that much for the others just like it presently offered on ebay. They are selling the coins based on the ship wreck provenance, if it wasn't for that they would sell for about $25 because of the corrosion damage.

Now then, if it's an 8 reales you want - CLICK HERE. That man you can trust - I absolutely guarantee it !

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Cloudsweeper99

I don't know anything about this type of coin. You might want to post your questions in the World and Ancient Coins forum where more people will see it. I'm sure you will receive a lot of help.

I agree with Speedy that the coin you referenced on Ebay looks suspicious, but there are people a lot more expert than I am who will let you know for sure [and they have enough integrity to not bid against you if the coin is as nice as it seems].

Speedy

When a coin is too good looking....it might be fake....I don't know much about that kind of coin but GDJMSP does and I'm sure he will be able to know what is up with that coin.

Speedy

__________________
Coin collecting is the only hobby in the world that you can spend all the money in the world and still have some left over

WINS - ANA - CONECA -

Speedy

http://www.cointalk.org/showthread.php?t=14152

Check out some of the dealers listed in that list...there are alot more but that is a pretty good list for people just starting out.

Speedy

__________________
Coin collecting is the only hobby in the world that you can spend all the money in the world and still have some left over

WINS - ANA - CONECA -

jimij

I went out and read a bunch of books on the subject matter. That coin even at EF condition only goes for about $100.00. Plus ( correct me if I'm wrong ) the complete wear on the 1 o'clock rim would prevent this coin from actually receiving a EF-45 as claimed. Also IMO there is no toning at all so In my novice opinion the coin has been heavily cleaned.

I can't thank you all enough for saving me $200.00.

I've actually perused that site a few times and Sedwicks name has come up in many posts I've seen. All with a reference to a great quality. Advice well taken.