Choices, choices...( what to get?)

Hi guys,

So I graduated HS last week (woohoo!) and received a bunch of money as a graduation present, and was told to spend it on something for my collection. I've not dealt with this much money before, so I am stuck on what I want to get. As an estimate, let's just say I have $900 to work with. Here are some of the things I have thought about purchasing...

-Graded MS Coronet Head Large Cent (pre-1830)
-Draped Bust Half Dollar or Dollar
-US colonial (possibly vermontensium)
-Mid to late 1800s proof coin
-US pattern coin

All of these really appeal to me, and it is tough trying to choose between them. Any advice or tips, or does anyone know where I can find better deals on some of these? I really love copper but have been missing my old silver since I sold it a few months ago. And proof coins are really pretty, and have low mintages which is kind of cool. Pattern coins are also really neat, and of course I love colonials.

 

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Open up a Roth IRA.

 

Oh trust me, the rest of my graduation gift will be going into an account that I will not touch. But I was given cash and a check with the explicit instructions to "spend it however I choose".

 

put half in a savings account and buy YOUR favorite coin on your want list.

 

I suggest you put the money away & take your time to consider all your options before spending it on a coin or anything. Consider your options for a week or so.

$900 might pay your tuition at the ANA summer seminar or it might literally keep you alive if times become difficult in your next semester (wherever that might take you).

A $900 coin would be pretty cool too.

 

$900 would be my limit, for the past few days I was scanning eBay for stuff more in the $600 range.

I will also be working a job for a good deal of the summer and all that money will be put into savings, no spending. I also talked to my parents and they made it clear that this portion of the gift was for spending on an item of my choice. We already counted up all the amounts and made sure that a very large amount of the gift was to be put into a savings account for college and beyond.

 

I know you weren't looking for life advice so I will now answer your question...

I would fill as many holes in my albums with coins that appeal to me in terms of grade and appearance. So buying a single coin is a foreign idea to me (unless I am down to one hole left!).

But, from the list you gave, I think the "Graded MS Coronet Head Large Cent (pre-1830)" or the "Mid to late 1800s proof coin" would be my recommendation. Copper is good! In the end, it's not an investment so pick whatever you like.

 

If you can find a 'Pattern' to your liking and well within your budget I'd go with that.......

Congrats on the gradyeeation...........

 

I would like the early proof for the reasons you stated.

I would also take my time and find the right coin. Don't get in a hurry, there will be a better one next week or the next..........

Buy what YOU WANT, not what we suggest. You seem to buy nice coins so I don't think you'll have a problem.

Oh yeah, welcome to the real world.....

 

Ain't that the truth. Seems like half the time I buy a coin off eBay, a better one for half the cost will pop up just a few days later...

 

I would wait for the one coin you really like. Personally the draped bust half would be my first choice but you may only get a VF30 coin for $900.

 

I'd go for a pattern coin. Bit scarcer as a whole and more unique. If it was too much, then a draped half. Still one of my favorite designs on u.s. coins.

 

Take your time. Once that $900 is spent, or largely spent, then it is gone.

Of the options given, here are my opinions-

-Graded MS Coronet Head Large Cent (pre-1830); There is really only one option in this date range for MS and that would be the 1820 Randall Hoard pieces. These typically come spotted, but you can get an MS64 for not much more than the $900 limit.

-Draped Bust Half Dollar or Dollar; These are actually pretty common, but at $900 you won't get much of a dollar.

-US colonial (possibly vermontensium); Vermont coppers are cool, but they were made like garbage, which means a pleasing example is likely to be cost prohibitive at this time.

-Mid to late 1800s proof coin; In general, these are pretty common type coins, but hairlines will greatly dictate the grade and these hairlines have a way of appearing worse over time. Be careful.

-US pattern coin; Most patterns that folks think are mighty cool are well beyond this level.

 

Congrats on graduating, personally i'd save it.

 

Good advice. I'm keeping my eye on a few MS 1820 cents (which I assume are from the randall horde). I'm looking at a few places and think I could snag an NGC MS-62 for $450. Looking around, NGC lists the coin at $550 and recent ebay sales show higher prices in that range. Plus, as fun as it is to take a gamble and snag a raw coin hoping it will grade MS, I'd rather play it safe and get one already graded.

 

Congrats on graduation!

If it was my $900, I'd buy a Seated Proof with amazing color. I have one in my watch list but it's at $1500. One day maybe I'll get it!

 

I would buy 3 coins $300 each.

 

that's what I would go for also. or a capped bust or two in a better grade. both coin series seem to be going up in price.