Our beloved coin collecting hobby is becoming discouraging

It's all marketing....same reason we now have 10 different types of Oreo cookies and 5 different flavors of Kit-Kats and 4 different varieties of Cheerios.

That's one of the good things about collecting older coins like Saints and Morgans: they don't make more of them.

 

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Stock losses can only offset wage income up to $3,000....gains and losses can net any amount.

 

The best thing you learn is if your heart is really in it. Once someone is burned they know they have to put the time in to learn. If they don't want to, maybe they're in the wrong hobby.
IMO, getting burned early will probably be less costly.

 

As long as you DO NOT "buy the keys first"!

 

Or at all.

 

And your get loss carry-overs from year to year.

 

What a great discussion IMHO!

I actually was pulling out of the hobby mostly due to financial constraints and the cost for additional examples in my collection interest, early large cents and more specifically 1794 varieties.

Then the deceptive struck counterfeits came along and I literally reinvented myself and my “Numismatic” interests!

I found I love the research and have an attention to detail and process (I am a mechanical engineer by training) to be pretty good at it. And then who knew, I have a decent ability for narrative about them- 60+ articles in a half dozen different venues and still going strong…

I sold my early large cents last spring and now focus on counterfeits and from nowhere an interest in interesting counterstamped coins, of which I also have several counterfeits!

I have learned so much in this journey outside of my narrow focus/ interest in early copper. I joined the LSCC investigating the struck counterfeit 1872-S half dollars at the same time Members there were writing of a duplicate example, with both being in TPG holders. Short story on that one, I found a raw one in a watched seller list on the internet and then a slabbed one in auction archives of a major auction house. It had an opportunity to make an offer to owner, which I did and was accepted. But, after reviewing it with now a Friend of LSCC who reported it to the auction house and TPG, the offer was initially blocked. After discussion at “the top” with all groups I agreed to purchase it for analysis but removed from the holder, but of course I have all the images… Since then I have had 3 articles on different liberty seated counterfeits published in the Gobrecht Journal.



So, I expanded my interest with involvement in other clubs and organizations including the C4 Colonial Club and have had mutual research projects published there as well.

And I have added so many friends and like minded folks to make this even more enjoyable, attending club meetings and shows and even displaying exhibits of my “Dark Side” Collection, which in my opinion again is what the Hobby is really all about!

And I realize this was a niche that needed some help filing, as several collectors stated when looking at a counterfeit in a genuine TPG holder, “it must be OK, XYZ TPG says it is GENUINE right on the label”…

Sorry to be so long winded, but I got my passion for the Hobby back, just evolved over the years!

 

That 1872-S counterfeit half dollar is one scary devil. Here is a genuine piece taken for the PCGS Coin Facts Site.

 

And to my point, it took proper attribution with the aid of my friends at the Liberty Seated Collectors Club to "see" what it really is! Having 2 examples to compare sealed the deal...

 

(1) Buy only certified coins unless you are a knowledgeable grader.

(2) CAC is another level of assurance if you don't mind paying up for it.

(3) Make sure the seller/dealer is reputable.

(4) Get a return policy guarantee, especially from online purchases from mass-sellers.

(5) Run it by friends and other collectors like here at CT.

Do all these and your chances of getting burned are much much lower.

 

6. Buy from a PNG dealer if feasible.

 

so, before we ever even look at a coin, no matter our background or anything, we need to become a TOP expert in the subject of coins.

Tell that to the ppl that come here with a road rash coin that they just picked up off the ground and think "it is different" from the rest of their pocket change. Then convince them it's not a rare unfound mint error coin, and they legitimately accept that.

Might be a bit easier than being a boat salesman in the middle of a desert.

 

Not sure I understand your point; hard to convince anyone who knows nothing but has their mind made up of anything...

 

I don’t see well enough to grade. But I do have an idea thanks to all these guess the grade post. I like those

 

Look up PCGS photograde. It's a pretty helpful tool to get you in the ballpark. You can either hold the coin up next to the picture or a picture of it on your cell phone (zoomed in if needed) next to a pic on the computer and slide left or right through the pics to see which one is the closest match. The wear pattern on different series' are very clear and distinguishable even for a novice. Then it just comes down to is it VF 25 or 30 as an example. It will get you close.

 

Certainly fundamentally agree with your bullets; always some exceptions though as I know some pretty good graders who bought some raw counterfeits as good.

I am of course aware of many seasoned in the Hobby purchasing counterfeits in genuine TPG holders; the saving grace there is the TPG authenticity guarantee.

I really don’t know what a CAC bean does for the cause though as I know of a CAC’d TPG certified counterfeit. It will be interesting to see how the new CAC grading service fairs…

 

I'm sorry to read that's the way you and many others learned. I think I've posted a very effective way to avoid authentication mistakes and reduce grading mistakes to a very low level. That limits mistakes to mostly value.

Clawcoins, posted: "so, before we ever even look at a coin, no matter our background or anything, we need to become a TOP expert in the subject of coins."

Really?

Vess1, posted: "Look up PCGS photograde. It's a pretty helpful tool to get you in the ballpark."

VERY TRUE; however, it is a guide and IMHO it contains many errors just as every guide! It is extremely hard to produce a photographic grading guide and I'm thankful they exist. I use them all at times EVERY DAY. I have been banned from the PCGS chat forum or I would have contacted their new CEO about possible improvements to their guide.

 

Would there be a benefit to Hobbyists if ICG had a Chat forum?

 

Why?

 

We are slowly working on ways to attract more collectors to our site. Getting coins out fast, accurate, and at a low price is our priority. I would be against an ICG chat forum because there are plenty now and at least one of them run by a TPGS is "DEAD."

I would be in favor of a place to ask direct questions for a grader to answer.