Need Advice for coin purchase

I have a 15 year old daughter who enjoys collecting coins. We have a lot to learn. Her grandparents like to purchase coins for her on her birthday and Christmas. How can I help them choose the best coins to purchase? Their spending limit is usually $50 - $100. Thank you.

 

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Well, what coins does she like, first, get a redbook, it has great info, but disregard the prices, then, get supplies, remember, do NOT clean your coins! Then, get the coins, don't "buy the coin before the book", and if you have questions on If something is a good deal, post it here and someone who knows will help, there are many aspects of coin collecting, so you needed to know exactly what she likes

 

How about a 1997 U.S. Mint Proof Set, her birth year.

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Maybe an American Silver Eagle and another silver coin of some sort?

 

If you get a 1997 proof set, get a silver one, or a prestige set

 

Love this idea Where is the best place to purchase these sets? She gets catalogs but I'm leary about the prices that are charged. This is all so overwhelming as we start to get serious about her collecting.

 

She started collecting the State Quarters because it was a challenge so she has mostly bought or been given quarter sets. She also like to buy a coin from places where we vacation. She has a beautiful coin from Pearl Harbor. I'd just like to see her start learning about the different coins instead of just purchasing because they look cool I'm trying to teach her about them being an investment.

 

The best place should be a local coin dealer, the estimated value of a 1997 proof set is around 10.00, a silver proof set is 37.50, a silver premiere set is 40.00, and a silver prestige set is 72.00

 

I wouldn't call most coins an investment.

 

:welcome: deegirl


The US Mint website for current year products

http://catalog.usmint.gov/webapp/wc...storeId=10001&catalogId=10001&identifier=2000


Also check out collector publications

Coin World
COINage magazine
Numismatic News

Any local Coin Shops

I buy a lot from eBay since I live in a very rural area 189 miles from the big city :rollling:

 

Agree with above regarding sticking with silver coins given the price range and the intent of teaching about investing. Silver Eagle from the Mint, or maybe a local dealer where you can sometimes find them cheaper than the mint. Those are nice coins with lady liberty on them that may endear them to the lil' gal.... Over time she should see silver price increase and realize how her coins are worth more at that time then when she got them on her gparents so many years ago... Good stuff applying the lesson the to gift.

 

If you're looking to buy online, I'd suggest buying mint and proof sets from mintproducts.com. Bullion and junk silver is good to buy from apmex.com or providentmetals.com. usmint.gov, mint.ca, etc. are good for current year stuff.
But local coin shops are great places to buy too.

Also, I'd suggest she collect a certain series. Buy a dansco or IS album, and start filling it up.

EDIT: It's this last step (working on completing a series or a type set) that turns an accumulation of coins into a collection of coins.

 

Welcome to CT!

I echo all of the above, and also feel free to utilize this website. I have found a plethora of information on here and being social with other collectors is part of the fun.

 

Welcome!

I would take her to a coin shop (or coin show, etc) and see what she's drawn to. Collecting is a personal choice thing moreso than "what's hot now", and people get drawn to certain coins and series for whatever reason. As you'll see here there's so many folks with different collecting styles and opinions, so really it's more about exposing her to what's out there, and seeing what she's interested in. She might like shiny proof coins, which you might be better off sticking to modern proof Mint sets that are relatively cheap and easy to obtain (see posts above). She might be drawn to foreigns or really ancient ones, and then that's a whole different area.

I also agree with the ideas about looking at starting an album (Dansco, Whitman, etc). Starting out and having a well defined direction and set of goals will really help spur the collecting bug, and foster the research to find the coins needed. It will lead to the desire to complete a collection, and then when done, you can move onto the next set that you may have discovered while working on the first one(s).

Lurk here a lot, and you'll start to get exposed to everything that's out there, as well as really good advice on where to go to find things. The ratio of knowledge to noise I think is very good here, and you'll learn a lot.

 

I like the idea of getting her an album with some nice starter coins to go along with it.

If not an album, a coin like the Walking Liberty half dollar or a Morgan dollar would be a great gift.
Proof set's are nice and everything, but if she sticks to collecting, I bet in the future she would really appreciate that beautiful MS65 half dollar, or MS63/4 Morgan dollar , or beautiful Silver war nickel set she received when she was 15.

Examples for around $100:

MS 65 Walker


MS 64 Morgan


Or a War nickel set!

 

Go old - good looks, history, and investment tied up in one. Many 1800's coins like Morgan silver dollars, Indian Head cents, and large cents can be had for $50-$100 (depending on grade/condition).

 

Here's one of my sources and quite reasonable too. Spend $50 or more and the shipping is free.

http://www.moderncoinexpress.com/proof-sets-page-3/

 

Thank you all so much for taking time to post. You all have given me some great ideas and I really appreciate it. I love watching her enjoy going through the collection she has so far and your advice will help me to encourage the hobby.

 

Don't hesitate to post, ask questions, and contribute. We are here for all good numismatic purposes.

 

Avoid the catalogues especially Littleton and don't buy coins from anyone on TV. They are grossly overpriced. A commemorative from the mint may be a good idea. Welcome to the hobby.