Featured How to buy US coins that are good values, and not get victimized.

LOL . . . who said anything about flying across the country? I've lived in several cities large and small across the U.S. and they ALL hosted local coin shows that I could get to in 15-20 minutes. That's 15-20 minutes via automobile, not jetliner. And all it cost me was a few ounces of gasoline.

I'm not anti-internet. I love the internet and use it frequently to buy coins. But I feel sorry for collectors who don't attend shows because they're missing out on a really fun aspect of our hobby. I don't always buy coins at shows, but I always enjoy myself and always walk out a little smarter than when I walked in. But to each his own, of course.

 

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I am referring to the Heritage Signature Auctions. I live in Atlantic City, the only shows that are within driving distance are those held in NYC, Philly, and Baltimore and even those are a hike. I don't know of any shows within driving distance of where I live that are worthwhile.

But while we are on the subject, what is so fun about a coin show?

 

For me, It's a way to get away from the normal for a while. I get to meet other forum members, and collectors. I get to chat with dealers face to face. I enjoy catching a club meeting or two. It's cool just walking the tables and seeing all the different areas of the hobby. I get to chat with the folks at the grading services and drop of coins. I even bring coins to have imaged. It's really fun to sit and pick the brain of an expert in a field of the hobby I enjoy. I always make new friends and catch up with the old ones. My lady even likes the shows. She gets rid of me for a while.

 

Chances to hear great programs, see great displays, form personal relationships, meet the greatest numismatists of the era, etc. If you think of a coin show as only being able to buy coins, maybe they aren't for you. I go to large shows and many times do not buy anything more than a book or two but am.still glad I went.

 

Perhaps you were thinking "Heritage" but you referred to "shows."

Lol, how do you know which are worthwhile if you don't go to any?

Seeing thousands of coins up close and personal, the unexpected discoveries, talking to other collectors and dealers . . . maybe not the definition of "fun" for all collectors, but it is for this collector.

Again, I have no dog in this fight. I buy more coins online than I do at shows or shops. Just seems to me that collectors who spurn shows are missing out on an enjoyable part of the hobby. Like Forrest Gump said, "You never know what you're gonna find."

And, lest we forget why this thread was started in the first place, shows can be educational for less experienced collectors.

 

Are you saying that you have monthly local coin shows where you live? Most people who live in numismatically depressed areas such as mine think of the Heritage Signature Auctions when coin shows are discussed.

I have a very specific want list. Heritage puts out an auction catalog so I know before hand if there will be a coin I want. I consider going to a show to browse for coins "not worthwhile." I know some people love the thrill of the hunt, but that doesn't work for me if I go home empty handed.

I am not saying people shouldn't go to shows if they want, only that you don't NEED to attend coin shows to become a knowledgeable numismatist.

 

I think we agree. They are not needed, but are educational. Some of my sub collections were started because of coins I first saw in person at coin shows. If a person only has a very narrow, defined want list and is not interested in other coins I agree a show is not your venue. The internet is much more efficient to track down very specific wants.

 

I'm in the Raleigh metro. Not exactly a numismatic paradise, but we have 4-5 local shows per year. Many others in nearby cities like Charlotte, G-boro/Winston-Salem, Wilmington, etc.

I acknowledge that shows aren't for everyone, particularly the advanced collector with a very short "want" list. Which, coincidentally, brings us back to where we started . . .

This thread was never about advanced collectors who know what they want, it was about giving advice to beginners and less experienced collectors who often don't know what they want. No one said you NEED to attend coin shows to become knowledgable, it was merely suggested that the novice collector should avail themselves of all opportunities to learn, one of which is attending shows (not including shows you have to fly to, of course!).

That's simply good advice. And no amount of bullying by the windbag keyboard ninjas on this forum is going to make it anything but.

Edit: wasn't including you in the aforementioned group, by the way.

 

I have viewed thousands of coins in hand. And each one I got to study at my leisure, not simply gaze at for 5-10 seconds. And it isn't a unanimous opinion of knowledgeable numismatists, it is your opinion. IMO, pretty much anybody is a better grader than you are given the fact that the grading system you use is not accepted in the current market.

And if you buy graded coins, they have been viewed in hand, by a professional grader, not some old dude on a coin forum. If you get a coin that you think is a dog for the assigned grade, you return it. It is actually pretty easy to do right from the comfort of my computer chair.

The photos will usually give you a very good idea of the grade of the coin, especially when they are professional photos like those from Heritage. Occasionally, you will get a coin that has problems that were not apparent in the photo and you may have to take a financial hit when selling the coin, but it usually won't equal the cost of the plane ticket to attend the show.

E-Bay is hit or miss and you need to find sellers that have good photos but E-Bay has returns so if you don't like the coin, you return it for a refund. That is why one "does not need" to attend coin shows.

So what? Over time, you will get to see many coins and get a grasp of how the series is graded. You don't need to glance at thousands of coins for a few seconds each to accomplish that.

You are the only one who says it can't be done. No other member of this forum or any other coin forum for that matter has ever stated that they don't think I know how to grade coins. Here is what I know for a fact. Given a contest to predict how PCGS or NGC will grade uncirculated silver and nickel coins, I will beat you without breaking a sweat.

 

Fair enough, and for the record I am not saying that attending coin shows is in any way bad. To the contrary, I am sure there is educational value in shows. All I am saying is that if a collector does not attend shows for whatever reason, they should not be criticized by members of the aforementioned group.

 

I love the idea of arguing a point with a vague non referenced piece of evidence. It would almost be fun to see how style of arguing that would go over at my place of work.

As I have said before ngc and pcgs define us coin collecting. Maybe not at the circulated 1945 10c level but certainly at the mid to high range price brackets. Some people like this. Some don't. But the evidence is right there. Open any major auction catalog over the last 5 years (or probably more like 10-15 years) and you will see the vast majority of us coins are slabbed pcgs or ngc. I have never gone to any coin show where most coins were raw. In case after case all I see for us coins is pcgs and ngc. Sure someone has a huge book of coins on their table raw but I haven't seen the guy have the book filled with hundreds of $100+ coins.

As the us market is owned by pcgs and ngc the most valuable skill would be the ability to grade according to their standards. I don't really care if you prefer a slide rule over a calculator if the industry standard is the calculator. The standard is the standard whether you agree or disagree.

People slam eBay left and right but I've found it to be a great place to buy coins. For years I bought coins on eBay and sold them at vegas shows. Now I just buy because there have been some coins I seriously regret selling. Sure it is more like miss, miss, miss and hit rather then hit and miss but really is a coin show different? There are tons of overpriced coins both on eBay and at shows. But with eBay you can look over thousands of coins in a short amount of time. I've never been to a show with over 2800 pcgs and ngc Indian head cents but they are on eBay right now.

 

I am new to this forum so I hope I copied and quoted that comment correctly. Anyway, I am fairly new to coin collecting. I inherited a small collection and after looking through all the coins, I of course got hooked and now want to continue adding to the collection. I found this post very helpful but a couple comments stuck out and if I could get some clarification to help me better understand I would greatly appreciate it.

#4 question - The majority of the coins I currently buy are NGC graded but I would like to dabble in some raw coins. I am not sure if you are allowed too but are ppl able to recommend certain ebay sellers and if so who?

#6 question - As stated above The majority of coins I currently buy are NGC graded. How does one know if the slab is fake?

 

Agree with most of it, but have to differ with item #1 about:

"Reputable dealers are honest, decent, nice people who deserve our patronage, to keep their businesses profitable. If someone is offering you a deal that seems shaky, or too good to be true--it is!!"

My own experience is that some of the best dealers out there are in every respect, -total jerks lacking any interpersonal skills. But they are still trustworthy numismatists who will shoot you a square deal on a coin with a VERY competitive price. And by the same token (pun intended) there are some dealers who are the most friendly people imaginable, but who will suck every last kopek out of you they can, all the while being charming and affable as they do it.

That's not to say I enjoy being mistreated, but so long as a dealer is consistent in his demeanor and is predictable in his attitude, I actually trust the jerks more than the dealers who treat me like a lap dog.

 

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Cat got your tongue............

 

Fake slabs can be hard to spot. Most folks don't get to see many in hand or in images. Like coins, the more real ones you see the better you get at spotting the bad ones. Some fakes copy all the information from a real slab. Sometimes you can find an auction where the real one sold and compare to see if it's the same coin. It's a good thing to know the dealer you are buying from. A good dealer will take the coin or slab back if it's fake.

 

This is more than a little bit of a generalization. I have dealer friends who are far from jerks. I like dealing with them, as they are serious hobbyists, and we not only do business--we socialize. So, I think you are being overly dramatic about the lack of interpersonal skills with respect to most coin dealers. If you want to meet jerks, try being on the customer service provider phone line for your wireless phone carrier.

 

Yup, an over-generalization. Guilty as charged. Part of the reason dealing with dealers who are jerks is so attractive, is that many others refuse to do business with them, hence they have to sell for less. I enjoy socializing as much as the next guy I suppose, but I'm still enough of a cheap skate to want the best deal I can possibly get once I find what I'm looking for.