CT Rules of Successful Coin Collecting!

Here are some rules...

Patience is the key, be patient and the coin will come to you, DO NOT CHASE THE COIN!


Don't buy junk, save up for the nicest coins YOUR budget can allow, it is better to have that one showstopping, WOW, of a coin, then 20 AG coins

 

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Never clean a coin by rubbing polish on it. Don't dip it without consulting an expert.

And

to add to the comments regarding the auctions....in nearly every case, there will always be another one up for bid, don't bid what you are comfortable paying and without comparing.

And

Never bid $40 for a current year circulating coin. LOL

 

Always listen to your elders, they have been there and done that! Starting out, is always hard, and everybody starts out as a newbie! Some people who have been collecting for years, are still newbies, because everything goes through one ear, and out the other. Listen to the advice, and knowledge you get, take it in, and use it.
Never take anything as a personal attack like I used to, nothing is ever personal in this hobby, we are always trying to help, just remember that.

 

This thread might be of interest......

http://www.cointalk.com/forum/t41322/

 

Dont buy a US coin made in China.
Dont buy a coin polished by a so called mint.
Dont buy a coin when they say "hurry", "triple superlative".
Dont put coins in your mouth.

Dont tell a lie, then you will have to remember it. (not a coin rule, just thought I would throw it in.)

 

Never bid $40 for a current year circulating coin. LOL[/quote]

yes like the 2009 dime and or nickel :high5:

 

Thanks for asking the question that us older collectors just don't think of. Good responses on what books to buy. Let your collecting interest guide you, what coins interest you? What series? What Country?, etc. Then look for books in those areas. A lot of good on-line resources, like the Numismatic Resources section of CoinTalk.

 

There are a lot of "collect what you like" replies, and I agree. But, make sure it's what you really like and you're not caught in the classic newbie trap of being told what you should like and are pressured into buying a bunch of junk just because others think you should buy it. In other words, don't get caught up in fads and hype. Buy what you and only you like.
Guy~

 

Frank there wouldn't be ant special reason you have for promoting that fine book , JK , it's definately on my want list .
Rusty:whistle:

 

Set some collecting goals (and work towards them) so you have a sense of accomplishment.

 

OMG catbert! I didn't mean to plagiarize your idea, but it must have been a great one if I had it too!!!

Two threads, a year apart... same idea... who would have figured???

I am so red faced right now!

 

back in 73, I was working 50 hours a week waiting for my deferred enlistment and purchased some double eagles to carry around in my pocket, when I visited my dad he was aghast, I left the coins with him to hold for me, so maybe one rule should be do not carry your collection loose in your pocket

 

These are my rules. They may not work for everyone here, but I guarantee they'll give you a more enjoyable collecting experience:

- READ the book before you buy the coin. Books can be incredibly expensive and, if you have a way of borrowing it or downloading it (illegally! gasp!) do that first. If you really like the series, a hard copy is the way to go. But there's no need to rush it.

- Buy the coin before you buy the book. Contradicting? I know it is. But provided that its not a very expensive coin and, more importantly, you're okay with a gamble, buy the coin first. I sometimes find it a bit difficult to really get into a coin book unless I have something in my collection to connect it to. This will give you inspiration for reading some of those books you borrowed.

- Stop trying to think about sets. Everyone says "buy what you like," but few here have made the logical connection that this means to relax with the sets a little bit. There's really no need for some publisher at Whitman to tell you what to collect. So buy some nice coins. Double up on a date or type if you have to, it won't hurt any.

- NEVER expect to make money when selling your coins. Trust me, this will save you a whole lot of grief. Easier to simply treat the money you spend on coins as gone for ever. Then you'll be happy with what you do manage to get when you sell.

- ALWAYS push the frontiers of your numismatic knowledge. I hate hearing people complaining about how much they don't know. "Early copper? I don't know anything about it!" "Ancients? I'm afraaaaaaaaid!" Try something new. Even if its just an impulsive world coin buy from the bargain bin.

- PATIENCE! Tmoney was right when he said this. Patience is the most important thing in my collecting arsenal. I have gotten so many rare (or at least rare-ish) types by simply waiting for one at the right price, and its always come along. Remember: your coin is out there. Wait for it.

- Look at as many coins as you can. Online. At shows. In the collection of friends. Only that way will you truly understand grading or attribution. Or anything for that matter. The more the merrier.

- Talk with others about your coins. This can be hard, as I know many of us are very security-conscious. But even discussing them here on Cointalk is good. Ya, I may get tired of hearing about everyone's new 1922 no D, but its good for YOU. I'll get by, somehow.

- Never go to the General Discussion section. It will suck your brains straight from your head.

 

Mike - no big deal........"it's all good" as Denzel Washington said in American Gangster . If you're around long enough, you'll see the same topics go round and round a few times on these boards!

 

View 100 or 1000 examples of a coin in-hand before buying a single one.

 

Find a good mentor.

 

good one, mike

 

Although this may not appear to apply to coin collecting or CT forum, read it through and you might be surprised.

Jim

Desiderata

Go placidly amid the noise and the haste, and remember what peace there may be in silence. As far as possible without surrender be on good terms with all persons. Speak your truth quietly and clearly; and listen to others, even to the dull and the ignorant, they too have their story. Avoid loud and aggressive persons, they are vexations to the spirit.

If you compare yourself with others, you may become vain or bitter; for always there will be greater and lesser persons than yourself. Enjoy your achievements as well as your plans. Keep interested in your own career, however humble; it is a real possession in the changing fortunes of time.
​

Exercise caution in your business affairs, for the world is full of trickery. But let not this blind you to what virtue there is; many persons strive for high ideals, and everywhere life is full of heroism. Be yourself. Especially do not feign affection. Neither be cynical about love; for in the face of all aridity and disenchantment it is as perennial as the grass. Take kindly the counsel of the years, gracefully surrendering the things of youth.
​

Nurture strength of spirit to shield you in sudden misfortune. But do not distress yourself with dark imaginings. Many fears are born of fatigue and loneliness. Beyond a wholesome discipline, be gentle with yourself. You are a child of the universe, no less than the trees and the stars; you have a right to be here. And whether or not it is clear to you, no doubt the universe is unfolding as it should.
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Therefore, be at peace with God, whatever you conceive Him to be. And whatever your labors and aspirations in the noisy confusion of life, keep peace in your soul. With all its sham, drudgery and broken dreams; it is still a beautiful world. Be cheerful.
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Strive to be happy.


--- Max Ehrmann, 1927​

 

Now where am I going to find one of those

 

Like thenoost said, make some collecting goals...

I wouldn't personally make goals, TOWARDS the STARS! Like a 1913 V Nickel... But one can always dream... Just make sure not to put a 1933' $20 Saint Gaudens, 64 D' Peace Dollar, or 13' V Nickel on your check list!