Hey guys, Sorry, another newbie question from me. I have decided that I would like to begin collecting Buffalo nickels but I am kind of confused on what types of methods I should use to actually get the coins. I know there are several ways: - Metal detecting (VERY low chance of finding even one this way.) - Getting rolls of coins from the bank (SUPER low chance of finding one.) - eBay (prices might be kind of high.) - Local coin shop (prices might be marked up a lot.) What is the best way to go about starting a collection of Buffalo nickels? How would you guys personally do it? Are there any places that specialize in Buffalo nickels or selling rolls of old coins or anything? Advice would be very appreciated. Thank you friends.
Andrgo, I would check local flea markets for deals on Buffalos. The flea markets around here usually have a coin dealer or two, and the prices don't typically go nearly as high as on eBay. That's the best alternative to eBay or local dealers, in my humble opinion. Good luck!
Hey Andrgo. No need to apologize for the newbie questions. Learning, and helping other collectors is what its all about. I've never been much of a buffalo collector. But I think flea markets and coin shops are the way I'd go. Just do some research so you know what your doing, and know a good deal when you see it.
I dont know about where you are, but around here there are a few notoriously underattended auctions that you can find good deals on coins. I won a sheet of 12 buffalos for $2 al of the F or better. I would never sell with this auctioneer but I love going there.
You might want to look around for a coin show in your area. Type in 'Indiana (or wherever yer from) coin show' in google and see what you get. You'll probably find some good buys and hanging around gawking at everything is plenty of fun too. I wouldn't mess with ebay too much. Most of the buffalos there seem to be crap and the few decent ones get all the attention of a side of beef in a pool of piranhas so they wind up going for too much to be considered a good buy.
i buy mine for a dollar at my local flea market. if your not into collecting very high grade ones i would try flea markets.
Yup, try a flea market and also get to know some local dealers. The odds of finding Buffalo nickels in rolls are higher than you would think, so if you have good eyes and lots of patience I would say go for that method also. I seem to get one Buffalo per every two boxes on average, but who knows what you may find! And, whatever you do , AVOID RAW BUFFALO NICKELS ON EBAY!!!
My advice to you is to first go to your local book store or search the net for a book from David W. Lange called The Complete Guide to Buffalo Nickels. Great information on history, mintages, rarity ratings, grading, strikes, etc. As far as buying, where do you want to be on the grade scale? If you plan on staying low grade, you can pretty much get them anywhere. If you want higher grade pieces, you might want to be picky about where you go and stick with slabbed coins by the top tier TPG's until you feel comfortable with your own grading skills. I don't know what you have in the Brainerd area for coin dealers or shows, but every spring and fall there is a very good coin show in the cities (Brooklyn Center). Would be kind of a long haul for you, but well worth it. Anytime you want to talk Buffalo, throw me a PM or e-mail, I'd be happy to chat with ya
You could always try a couple of online coin shops. Just a thought. I collect Liberty Head Nickels and have gotten most of mine off of eBay but of course, like everybody has stated if it is anything above Good-Very Good then you will want to think about taking out a loan. There are just too many people with too much money over there for me to compete with. Ebay is just getting worse and worse each day. There are still a few reasonable sellers there, but only a few.
Andrew, what BuffaloHunter posted is the best advice I have seen - buy the book first, study it and then and only then buy the coins. As for where to buy the coins - I would use a coin dealer. But try to find one you can trust and establish a long term relationship with him. In all honesty, I would avoid flea markets like the plague. 99% of all coins I have ever seen in a flea market are problem coins. And if you don't mind buying problem coins you might as well buy them from a dealer - you'll get them cheaper from him than you will at the flea market and he'll at least tell you they are problem coins - the guy at the flea market won't. Most times he won't know it himself. If you cannot find a dealer that you trust, I'll be happy to recommend one or two or three - whatever you want. And I will personally guarantee anyone I recommend.
I do ebay and work with my dealer to find the coins I need. I have picked up a few 1926-S nickel on ebay graded F that were really VF...The Buff Nickel is a hard coin to grade---a 1926-S in F is worth about $100 but in VF its around $400... Today my dealer had a 1921 that I really wanted---we both looked at the coin agreed on the grade and looked it up in the Gray Sheet---I got it below BID so I don't think that coin dealers will be overpriced as much! Speedy
