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

Plus there is a certain social aspect to being a collector, be it coins, comic books, sports cards, art, whatever. My wife thinks I'm some sort of hoarder because I have coins all over. My kids think I have lost it and my parents think I am just strange. I like my coins so I don't care what others' think.

 

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Well if my grammer is in question OK I'm on my phone. I made the comment "Buy the book before the coin". It has nothing to do with getting a union job. Lol it is a statement made. You don't rebuild a car engine without knowing what the specs are or that to torq specific parts. Then again this has nothing to do with cars.
You all sound like the people that know so much but can't put into something to get more out of it.
The point I made or tried to make is this. If you buy the book (whichever book fits your needs) when you have that roll or group of coins setting in front of you, how do you know what is good to keep and what is not? If you don't have a book you have to look up each and every date and mint mark to see if what you have is worth keeping. If you had a book and at least looked it over before you started you would at least have a clue as to what you were looking for. As for prices? Whatbare you going to do look them up on eBay? Most items on eBay do Not sale for market prices. A new book that just came from the printers and into your hands (your right) is already a year old. I don't use a book for prices. Having a book does many things for me. I can look up varieties that can make a junk coin worth a lot of money, but without the book you wouldn't know to look for it. Which means that you will take that expensive coin and give it away or use it for a soda. I don't know everything there is to know about a lot of things so by reading I can see what coins to look for, how they were made and why they can be worth more then its counter part. I don't collect coins and paper money just to sell it tomorrow. I collect because I like to know about them. I'm sure that if I asked most of you about a specific coin you would have to look it up or you would just keep scrolling because it doesn't matter to you anyway.
The more a person knows about what it is they are dealing with the more enjoyment they will get out of it. As one person said if you are buying rolls what good does a book do for you? Well how do you know to buy that roll? Why not the roll next to it? If the roll has dates and mint marks how would you know to take the roll marked 1909 s vdb? Well either you were told about them or you read about it. Most things don't just pop up in your head and say (without knowing) take me I'm worth more. You have to know (unless you just get lucky. Some one had to know what they were talking about in order to tell you.
If you want to play the luck game its on you. I my self like to know something about what I'm doing before I jump into it. If the speed limit isn't posted how do you know what you can do without getting a ticket? You don't!
So you buy that coin or roll of coins and now you want to sell them. A person with money asks you a question, how do you answer them? Daaaa if you want it buy it if you don't I don't care. That will sell your stuff every time. Well that makes you very worthy of most peoples business.
Someone said the longer you do it the better you are. Yes that's true but you can do whatever as long as you want but you aren't going to have your questions answered by doing something a long time. Lets be real people if you like your hobby you should want to know about it. If you are doing it as a get rich quick skeem good luck. If you know about what you are doing people will come back, if you tell them it doesn't matter buy it if you want it doesn't matter to me. Your item may sell this time but when that person needs something worth some money they want someone that knows what they are doing. I'm not going to have surgery by a doctor that hasn't been to school.

 

I'm just saying, if you're buying a book just to get a clue, you can get that clue easily on the internet and for free. I guess some people prefer to pay for a hard copy because it might be easier for them than searching on a computer.

Just confusing because you wrote this...

... so, it reads like we can easily know what the price is from an old book.

That's great, if that is what works best for you.

Sounds like a dealer should have the newest and latest price guide. I approached this topic as something for collectors.

 

As seems to be usual people are arguing against statements and ideas that the other person never stated. No one here said to never use reference material. Not a single person here said you should just blindly spend money and hope for the best. No one.

What was suggested was buying small, cheap coins while using reference material. Having a few $5 dollar Buffaloes in your hand as you read the ana grading book, not just reading the book. Having some common date circ ihc. So you can look at your non expensive coin and then back to the picture.

But again and again the mantra of you must have studied the book prior to buying that $20 circulated buffalo roll continues. Don't first buy a low mint state Columbian or btw half for under $25-30, you first must read a novel. Only then do you have permission to freely buy $30 coins.

Some here are actually advocating buying very small purchases while you learn from reference materials. Why are so many here flat out coin offended by this concept?

 

Well it isn't that I don't use the internet, I never said that. But a book is a way to keep refrence. I can (when the power is out) go grab my book any day any time and check something. I have heard so many times about the internet being free. Yes its free and a book will cost you money, lol but if people are worried about a $20.00 book then I can only imagine what kind of a collection they have. Maybe that is the difference between me and most. I don't grab any old coin and cram it into a hole in a book. I like my stuff to be matched as close as possible to the set. I don't see a hole in my pennies and grab a cent off the ground just to fill it. If most look at the cost of a set of pennies( with one coin AG and the next one AU and the next one XF and so on) that are made of fillers then look at the same set in AU and then one in MS you would see that the set of XF coins will be worth more then the set that has no uniformity. I don't build a set of anything to just say I have it. I am proud of what I have collected because it took time and perseverance to get it. I didn't throw it together in a couple of days. I want my time to be worth something.
If people don't have time to learn that is up to them. I'm not a wealthy person but I take PRIDE in ALL I DO. No one said you have to buy a book heck I'm not an author of any. I don't get a cut off them. I don't care if you have a collection worth looking at or not. It is all each others own idea of what makes them HAPPY. if you just want to throw a bunch of junk into a book, then I think that's a good thing. If you want to build a race car with no engine good. I do what I do because that's what I do. If you don't want to be able to collect with your children, cool. Its all about what each person needs and wants.
If your having fun "THATS ALL THAT MATTERS" isn't it?

 

Why is it that it is always about one person? I suggest to people with children to collect. It is a great way to teach children history. And if you don't know it you can't teach it. If people don't want to buy a book don't. I don't do many $2.00 or $3.00 coins I want to have some sort of idea so when I drop $100.00 on a nickel I know that it isn't a $3.00 nickel.
Again if you don't want to learn, if you don't want to buy a book don't. If you are happy don't fix it. If you want something to be proud of learn about what you are doing and you will be surprised.
I answered a topic and gave my opinion. Its only an opinion, if you don't like it that's cool. If you don't like me that's cool. But I believe that if a new person asks me a question I NEED to be able to give him the answer. Not tell him "what does it matter" or "who cares. You don't like my opinion well you have tours as well and I'm sure I don't like it, but I have spent this time trying to explain something to people that don't care. Its all about the money. What are you going to tell your child when they ask you what happened in that time period? Why do you do this? Why do you spend so much time on this and you won't let me help? What are you going to tell them?

 

Does it annoy you when people attribute statements to you that you never made? It annoys me.

I live in America, not Afghanistan. My power doesn't go out.

The only statement about price of a book was about the $130 book someone referred to. What thread are you reading anyway?

Who said anything about not learning? Some here are saying that holding a circulated cheap $5 buffalo in you hand while you read
could give you a better learning experience then just sitting somewhere reading about coins when you have never held anything but pocket change in the past.

Some of us know something about history from our prior educational experiences.

I have no idea what you are trying to say.

Who said anything about spending $100 on a single coin as a beginner?

I stand by this.

 

parden me if I commit the crime of returning to the op, but my method of buying usually involves a few techniques.

1. I don't buy coins unless they are pcgs or ngc certified.

2. I subscribe to the grey sheet and coin facts and use heratige and ebay completed sales data to get an understanding of the range of value a particular coin has. While every coin truly is unique and valued as such, with tpg grading you can still get a generic range where your coin lies. Comparing the coin you are looking at with the databases available is enormously helpful.

3. Toned coins don't value according to white coin values. Understand buying a toned coin is a specialized nitch

4. Error coins have a range but are very hard to pin down exact value. View many errors completed sales of similar coins to get a concept of market value for the specific error.

5. Prior to buying a specific coin I will usually Google that coin to see what my purchasing options are. Better deals are hiding everywhere online.

6. Check the cert numbers in the pcgs or ngc database prior. Sometimes not only do you see the coin but also prior sales of that specific coin.

7. Posting the coin here prior to purchasing and asking questions can help. Just be careful you don't wait too long to then buy the coin or others might beat you to it. Making a "guess the grade" thread using a picture of the coin you want to buy can give you an understanding of how others grade the coin you are looking at.

8. When buying off eBay or other sites finding the sellers own website can sometimes get you a nice discount as the person then doesn't have to pay ebay fees. Googling the coin details will sometimes bring you to the dealers website. Other times the sellers name or Id will get you to their own website. When you do this just be very careful that the person you are buying from is a reputable dealer because you lose your ebay buyer protection by doing this. You can then contact the dealer outside of ebay or the other system and ask them for a better price then they listed in ebay.

Ethics. I don't use the ebay system and email them via eBay to do this. If I can use the visable information to find the person and then make a deal it is to me different then flat out using the ebay system and emailing the seller via eBay to then go outside ebay. But everyone has to use their own ethics here. It is certainly possible to use a disposable account and repeatable use eBay to ask dealers to do this.

9. When buying or considering buying at a show I always compare the coin in front of me to my internet options. I once bought a thick Norse pcgs ms63 for $215 when the dealer at the table wanted $310. And they were both graded properly. You could have switched the coins and no one would be able to tell which was which except by looking at the pcgs serial numbers.

 

What's the best way to do that??

 

I don't think that anyone has a problem with someone buying a few inexpensive coins. The problem is someone that keeps buying and buying without having some type of reference material. It's very common for new people to the hobby to do that very thing.
Before they know it they have a ton of low end coins with many of them being problem coins.

This is one of the reasons so many teach to buy the book first. This becomes even more important as the price of the coins go up.
When I hung out at coin shops a lot there was always someone coming in with a large group of coins. They thought they had a gold mine but left really sad when they learned the truth.

One day this young man brought in his early Lincoln cent collection to sell. Almost every coin was cleaned or had problems. He became really upset with the dealer because he would not even make an offer on the set. The young man went too far before learning what he was doing.

 

I guess that is why people keep saying that you make the few low end purchases while learning, not instead of learning. I have yet to read a post advocating buying without knowledge as a long term strategy.

 

RACIST!

 

Technically the whites are valued less then the colored. I believe people describe this as reverse racism

 

Well I stand by what I have said as well. As I have said I posted to a thread if you want to fight (which is what it appears) let me tell you, I spent way to much time in the military to let something as petty like a thread to bother me. When you say you don't need to learn well that's a good thing.

You sound like the guy that for Christmas his wife bought him a brand new set of encyclopedias. When the man opened the box he got soon upset that she spent so much on a stupid set of book because he already knew it all.

Now if you want to tell everyone that a book is stupid then since this is an internet group everyone sees what you write. You are doing a Great job. You don't want to be educated? Well hey that's good for me. When people see that we are on the same site selling the same coins and you don't care to service yourself how can you service them. I understand that you have been doing coins for sonlong that it is second nature to you. The new people know almostbas much as you. You can handle 1000 pennies and you might know what they feel like but you can't tell them about it. For you to know sooo much someone had to study something and pass it on to you.

Now as for what you buy? You buy your $5.00 coins and you have fun at it. I well I guess my taste is a bit higher. Not all of my coins are expensive but in every set there are always at least one or two that your gonna dig into your pocket for. Well unless tour collecting state quarters, but lol even some of those have a price tag. You want scrap good and actually you sound like a scrapper. They don't need books because they only want the metal. But even a smart scrapper reads about his metals (I did say smart). So you go ahead and tell us how smart you are and blow smoke but in fact we all (even me the dumb one) knows that in order to get anywhere you have to learn. If you don't then your just working off everyone elses experience. I sure that someday you will be singin a different song. When your children ask you a question and you can't answer it. Learning to me is all about what I can and can't do. If I want to be at the bottom all my life I can live off everyone else. If I want to attempt to getbto the top then I learn.
KNOWLEDGE IS POWER! Now my power tells me that if you can't figure it out then chances are you never will. If you cared you would want to get to the top at all cost.
Now please do me a favor? Have a Great day and try to keep smiling. If you need help ask. If youbwant to continue to show how smart you are your kidding yourself.

 

If and when the power goes out, I don't usually reach for my coins or a book. I like to have a working lamp for both.

It depends on the book and on whether or not you can get something worthwhile for $20, that isn't already free and accessible. I'm usually of the mind set that I'd rather buy another coin because I don't collect books. So, why does it sound like you're saying that the quantity of books determines the quality of collection? I have a feeling, that the person spending their hobby budget on coins, instead of coins and books, might just have a much larger collection of coins than you do. I really wouldn't judge the quality of a coin collection based on coin books owned.

Seems like you're putting down a lot of tried, tested and true coin collecting methods for beginners.

Do you really equate owning books with an eye appealing coin collection?

I'm not sure why books would have any effect on the quality of time one spends with his/her child/children.

Stick to your way of doing it. Your arguments seem all over the map. Let's just agree to enjoy collecting and leave it at that.

 

Well you go on and think as you wish. It appears that your into quantity instead of quality. But you know your right. You go get your quantity and keep on buying those coins you are buying. I have already expressed my opinion and you have yours. It seems we all think differently. As for the books well a lot of the books are collectable as well. I don't just collect coins and my budget Demands that I know what IM doing. I don't buy junk and I know that when I decide to sell that my collection will be worth far more then I have paid. I don't buy just to dump. You have a good day. And say what you want I'm tired of hitting my head against the wall. You collect what you want and I will collect what I want. This is suppose to be a fun hobby and it is to me. I'm glad you are doing so well.

 

Oh, and guys? I think the $130 price tag was well worth it. I realize such an expenditure is not for everyone, and beyond the means of many young collectors, but if you're gonna get serious in a certain area you've got to pay the price for the reference material. It ain't gonna reside on the 'internet' for free.........

 

Well I guess that is why people don't buy books? They don't need to know. Ignorance is bliss. If you don't know how spending time sharing and learning While collecting with their child has anything to do with a book wait until you try it. When youbare sitting there and t your child picks up a coin from 1890 and asks you what happened in that year. What do you tell them? Most specialty books tell you a little about the time. I don't know about you but when my children ask me a question I like to give them an answer that has meaning. But your right since you haven't kept up let's just agree to have fun and leave it at that. Besides collecting has no place for family or education. Its just so we can throw a bunch of junk coins in a box and try to sell it for a lot more then we gave for it. Its all about the money! Right?
I guess we all have fun in different ways. I just don't want to look stupid in front of my children. I don't like to say what does it matter.

 

So, you are in it for profit? Are you buying valuable coins from people who sell them at a loss, in order for you to have a guaranteed profit down the line? If so, pretty amazing.

I thought we were done. Are you looking for a book that tells you historical events by year, or coin books?

I'd be more concerned about how you come across with some of your answers under this topic. No place for family or education, throwing junk coins in a box and selling, it's all about the money ...??? Hey, those are all concepts you're introducing into the topic. You also started off with this...

I thought the first part was nonsense, the middle still reads like a bundle of confusion and the end describes disinterested dealers/sellers, not really collectors.

Wonder what you might come up with, next...