Some important information

Quite an endeavor. Good luck to you.
How many varieties are there?

 

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If indeed for the new of the new, I would be very careful about how I approach the idea of getting that almighty "deal". It has been my repeated experience that the number one mistake collectors (especially new) make is in chasing what they believe to be a deal, be it for the thrill of getting something they believe "cheap" or, more often than not, day dreaming of easy money. There's an old saying that goes something like "there's no free ride in numismatics", and if anything, this is what I would press. Unfortunately, there are no simple fixes. One cannot simply pick any dealer (face-to-face) and know that this person will treat them right and fairly, but on the other hand, is buying blindly on ebay (or an antique mall, flea market, etc, etc) any better or safer? Feedback is meaningless; some of the biggest dreck peddlers also just happen to have the highest ratings. There are a few very simple, easy, and obvious steps that sham sellers can take that usually allow them to both burn customers and keep high ratings. If you really want to help someone new, there's really only two options: you have to push education or press them find someone willing to do the work for them. If you focus your advice too much on price, you could remove the latter from serious consideration, leaving only the former and you should know by now that not everyone is willing to learn. New collectors focusing too much on price, or god forbid the almighty profit, is a recipe for disaster.

I'm certainly fond of that as advice, but here too you must tread cautiously; the simple fact is that people dying to buy coins are, well, dying to buy coins and not spend great amounts of time reading/learning. Like I keep saying, there's no simple fix or solution here.

With that said though, there are many ways, other than buying costly books and spending years studying, one can learn while starting to build a collection. Lower value material can make for a fine first step, especially if of a type still in circulation as one can purchase higher grade examples while pulling different conditions from change for comparison. Hell, much can be gained simply from studying pocket change if one doesn't have the ability to take the more tried and true routes to handling as many (collectible-level) coins as possible. One can take a fairly large pile of cents, attempt to grade each coin, take notes of their initial "grades", and set them aside to revisit perhaps a few months down the road. You may be surprised at how much such a simple and free exercise can really help in the long run. The point is that while learning and studying first may sound fine and dandy, there are relatively few willing to actually do it, and since the last thing this hobby needs is for someone to blow and lose a bunch of money on junk before turning sour on the hobby, you'll want to guide would-be collectors down the path of the least likely damage. If one insists on buying more costly material from the get-go, and doesn't wish to find a dealer willing to work with him, buying only certified coins, preferably CAC (the fact is that, while not perfect, they offer a level of protection above and beyond basic TPG certification that would be very valuable to such a person) would be a wise choice.

Like I said before though, there is no way you're going to be able to tailor a small booklet into something that can or will directly help everyone. Trust me when I tell you that there are an unfortunate number of people out there who both hear and see only what they want to, and no matter what you say or do, it's not going to make any real difference to them. The best you can attempt to do is give them the tools with which they could help themselves. As with any tool, it is only as useful as the person using it, and some just have to learn the hard way.

 

To start with, I'm excited for you in doing this project. You have a great start. There's been very sound advice here and I'm sure there's more to come.

About 8-9 years ago I taught a few non-credit coin courses at a couple local community colleges. For what it's worth, you're welcome to this handout I had for the class. You've touched on a majority of this already.
Basic numismatic advice (in no particular order)

1. There is no Santa Clause in coin collecting, if it’s too good to be true, it is.
2. Learn how to grade coins for yourself. People usually start with circulated grades and then move on to grading Mint State or Uncirculated coins.
3. Average circulated really means About Good/or at best Good-4.
4. Be very careful when buying a raw (uncertified), expensive high-grade Mint State coin.(MS-60 or higher) If it was truly the grade the seller is claiming, it would probably be certified. Buy certified until you really know how to grade MS coins.
5. Dipping is to be done only when necessary. Consult an expert. You can never replace originality.

Using acetone on a coin is for removing dirt or verdigris. It does not remove any metal from the coin. Whether or not dipping or even using acetone is considered cleaning is debatable.

1. Experiment on cheap, toned, uncirculated coins before you dip a more valuable coin.
2. Some toning is desirable and can command a premium. Be aware that there are artificially toned coins out there and they should only be purchased at a discount – unless you know it’s ‘AT’ and you still like it. Knowing the difference between naturally toned and artificially toned coins is another debatable aspect of collecting. Experience and lots of browsing will help. A pretty reputable collector offered up this: Purple and green rarely are seen together, usually the pattern of true color would have violet, magenta, light blue, gold, and green. Purple is a red flag.
3. Develop a rapport/relationship with a dealer you like. If you agree with their grading for the most part and their pricing, they may offer you better prices in time. They may also help you fulfill a ‘want list’-coins you need for your collection.
4. If you rely on a particular dealer for advice, and he spends time talking with you, it’s always smart to make regular/occassional purchases. It’s really more of a common courtesy.
5. In general if you know a dealer is overgrading their coins, simply walk away. It is generally poor form to argue grades on the bourse floor. Never argue grades at an auction-simply limit your bidding.
6. Home-Shopping Network, Coin Vault, and shows like that are the worst places to buy coins. Flea markets and E-Bay can be second worse.
7. Realize that some characteristics are more common in some series than others. Most S mint Morgan dollars have great luster in Unc. Grades, many Standing Liberty Quarters do not have a ‘full head’ in Unc. Grades, most of the D and S mint Buffalo Nickels in the teens and ‘20’s have very weak strikes, etc. There are particulars to every series
8. Grading Mint State coins- Marks, Luster, Strike, and Eye Appeal.
9. Grading circulated coins- Marks/wear, Strike, and Eye Appeal. Luster is not really a factor for EF-40 coins or lower.
10. Learn how to grade.
11. Guaranteed unsearched—misused term. Never buy an item that uses this phrase.
12. Store your coins carefully—we are just temporary caretakers of these items for the next generation.
13. Grading is an art-not a science. There are slight differences in grading standards between PCGS, Photograde, NGC, and the ANA.
14. Learn how to find certain designations on coins. For example, Full Bell Line for Franklin Halves, or Full Split Bands on Mercury Dimes or Roosevelt Dimes are extra designations that are usually separate from grade. Certain Third Party Grading companies have different criteria for these designations. For instance, it’s very tough to get a full bell line designation on Franklin Halves from NGC and a bit easier to get it from PCGS. The forums from Collectors Universe and Collectors Society and Cointalk.com are great places on the web to hear what experienced collectors think on this subject.
15. Collect what you like, mainstream or obscure.
16. Look at thousands of coins and learn how to grade. It will be fun,… honest.
17. Go to coin shows in your area as often as you can. These are listed toward the back in Coin World or Numismatic News.
18. Be careful when buying heavily toned coins that look too good to be true-they have usually been doctored or artificially toned. Artificial toning usually floats on the surface of a coin whereas natural toning seems to come from within the coin. Even advanced collectors have trouble with this one. Again, go to the discussion forums and you will see lots of examples and opinions.
19. Network with other dealers and collectors, and join a club.
20. Really learn how to grade.

Have fun

 

In total there are 29 varieties from Jackson County listed in the 3'd Edition of the Fuld store card bookfrom.

Two are from Parma, in Jackson there are three merchants. S.Holland & Son had two varieties, H. Ismon has one variety, and Wm Jackson has 24 varieties.

 

Brandon this is your project , I really like the idea that you are doing your homework to write a book that covers all the bases.
This is not a hobby that one can enjoy unless one likes to read,and do research . Reading and learning is something that starts day one and continues though out ones life in this hobby.
Every collector here has made mistakes,one way or another, during the time they have been collecting they deny that they are not telling the truth
You are a very bright YN. The fact that you have decided to do this project speaks volumes .
This is your project ,you and only you can make the call on what you want others to understand from your book.
Regarding coin collecting , you need to research all your bullet points ,you need to decide what you believe to be the most important . And in the end you'll be getting the grade, not us!
You got this...... no need to hear the opinions of hundreds of experts.....as they aren't including me!
They are opinions.......it's your book ,your project, you're the expert who is going to nail this down.
Best wishes on your journal and put me down for a copy.

 

While I'd never discourage someone from finding a way to incorporate their love of the hobby into their regular life, I'd suggest that you look at the people who have already written exceptional guides for beginners. Right now I'm reding The Coin Collector Survival Guide by Scott Travers. Although I'm not a beginner (20+yrs), it's still a great read and covers just about everything.

 

I am so happy that you like my project, and this advice is amazing! sorry about this late comment I was out of town for a Business Professionals Of America state competition

 

Thank you so much for this very wise advice, I greatly appreciate how your advice is always so honest, wise, and to the point, I wish that I stated things like that more.

 

Thank you for the great advice and the complements they are both greatly appreciated!

 

Thank you all so much for teh great advice, sorry about this late comment I was in Corpus for a business professionals of america state competition. Do yall feel that the list below is better

1) keep this booklet on hand, it has useful information that should help you when making decisions about purchasing coins.


2)Always do some research about the coin that you are planning to purchase before you go to make the purchase.

3) Buy the book before you buy the coin, what I mean by this is study coins before you purchase them.

4) Collect what intrests you

5) If an offer is too good to be true, it probably is because coin dealers sell coins to make a profit.

6) Make sure that the person that you are purchasing coins from does not make you feel uneasy about purchasing a coin from them.

7)If you are unsure about a coin for any reason, look for a similar example in a third party grading holder. Try to stick to the four main ones PCGS,NGC,ICG, or ANACS.

8) Always start by purchasing inexpensive coins in circulated grades.

8) Always deal with nice dealers, if a dealer is not willing to give you their time, then your time is not worth their time.

9) If in person, analyze the coin that you are planning to purchase before making a decision, most especially with the magnifier.

10)Always weigh your options when at a coin show.

11) If online, assume that there is a chance that you may not obtain the coin depicted unless there is only one coin being offered under that specific listing

12)do not buy silver eagles or any sort of other modern silver round (such as the silver koala or the kookaburra) in a third party grading holder because these coins are going to me in Mint state 69-MS70 coins without the holder.

13) Do not get a coin professionally graded unless it is worth at least $30 because the fees to get a coin graded and authenticated will outweigh the increased value that is attributed to the coin that comes about when a coin is professionally graded.

14) The fewer number of coins minted, the higher value for the coins minted of that year.

15)NEVER CLEAN COINS! Cleaning coins is strongly not advised because collectors and dealers of coins want coins that have the most original surfaces possible, and cleaning a coin takes away that natural surface. Keep in mind that a cleaned coin is considered a damaged coin and when making a purchase of a cleaned coin make sure that you are getting it for less than the price guide value.(important note - a cleaned coin can oftentimes be identified by a coin that is shiny, but warn.

16) LEARN TO GRADE COINS

17)Most importantly - have fun collecting and studying coins!

 

5) Yes and no. An absolute yes the first part, but imo, just because one sells a coin, this doesn't make them a "dealer". Others will certainly disagree and is certainly their right, but in my eyes there are, or at least can be, vast differences between what I would call a "dealer" and a "seller". Without getting terribly long-winded here, a dealer offers something of value to their customers/clients beyond the coin itself, most often in the form of knowledge and experience, while a seller simply sells (if this makes sense). Your advice, as written, could easily be misconstrued into a warning against dealers when the fact is that a good one can be the new collector's most valuable asset. I cannot even begin to tell you how many "collections" I've seen, full of every level of dreck imaginable, where a good dealer would have made all the difference in the world. As I said before though, the problem for a new collector can be how to separate the good from the bad.

8) No... this absolutely is not true when made as a blanket statement. While I would agree that a brand new collector probably shouldn't be buying raw supposdly MS high dollar classic coins, there are plenty of types where there is little reason to buy anything but.

8 (the second one) This too, when made as a blanket statement, is at the very least questionable. It is not that the advice itself is bad, but just that it needs to be reasonable. The fact is that there are plenty of people out there who think they're the center of the universe, and will not think twice about wasting a dealer's time, often searching for that one great score and perfectly willing to walk away without spending a cent unless they find it. This isn't to say that there are no short dealers with less than acceptable bedside manners, but it must be understood that (most of the time) this isn't his hobby for them. Time wasted with a less than serious "buyer" could be better spent helping someone who is serious. There are many threads here in which someone expresses frustration over what they believe to be a dealer not taking them seriously, but rarely do such people show even a hint of being able to see the other side. No one would expect to walk into the Porsche dealership in their bumming around the house clothes and be handed the keys to a new 911; right or wrong people judge each other on appearances and usually based upon experiences. If, say, you are a 14 year old kid and want to look at a thousand dollar coin, even if he indeed has the ability to purchase, is the dealer unreasonably at fault for being hesitant? Perhaps not the best example, but I'm sure you get the point. Perhaps the best advice here would be to follow the golden rule. To place yourself in his shoes and to simply be respectful. Just because the guy isn't willing to let you ogle and palm every other coin in his case doesn't mean he's being rude or disrespectful.

11) I would reword this (if I indeed understood you correctly) to be aware of the fact that sometimes coins are offered generically, usually by type, grade, TPG, etc. Although not unheard of, the switching of coins is fairly uncommon and often by accident, so there's little reason to possibly make new collector's paranoid.

12) That's not your decision to make; it's the individual collector's. We all see things differently and enjoy different things, so who are you to tell someone, no matter how noble your intentions are, what not to collect? With that said though, there's certainly nothing wrong with letting someone know that high grade is the norm, but let them choose. Again, just give them the tools.

13) $30?? What sense does it make for someone to pay near/close to/over a coin's value just to have it "certified"? Slabbing must add something of value (not value, but of value... be it liquidity, for authentication, etc) to the coin for it to be a worthwhile consideration, and can you honestly think of a common situation where a $30 would benefit enough to make it worthwhile? I can honestly tell you that I've never personally known a knowledgeable individual who set their consideration threshold so low. If you buy a coin for $20 that may be worth $30, yet pay $30 to have it slabbed, what are you left with? God forbid you pay $30 for it ($30 + $30 = $60 for a still $30 coin).. does this make sense? New collectors shouldn't be submitting anyway unless they have someone truly experienced and knowledgeable to screen for them. I've said this many times before, but not all coins need to or should be certified; with new collectors especially, setting such a low threshold for submitting is a recipe for disaster.

14) No... this too, when made as a blanket statement, is not true. While mintage can play a part, what really matters and matters more is survival and popularity. To help make the point, look up the story behind the 1903-O Morgan prior to the bag discoveries. On the other end of the spectrum, perhaps familiarize yourself with what happened with the 1950-D nickel. Two rather extreme cases, yes, but both should help you see why mintage does not automatically equal value.

As I said earlier though, no matter how hard you try, you will not be able to put something together that helps everyone, so don't even try to. Since you insist on giving this a shot, simply provide the basic tools and allow anyone who reads it to do with as they choose. Also, be very mindful of proper wording and spelling if you indeed follow through with this little project; after all, you're presenting yourself as a knowledgeable professional in a very detailed oriented area, and want to be taken seriously. As always, I wish you luck.