Coin show...what to buy??

I'm going to the coin show this weekend. Plan on taking about $1,500.00 in cash. What do you think would be the smartest investment, buying a collector coin/coins or a St. Gaudens (not that it's not highly collectable)?

If a non gold coin, which one? St. Gaudens...MS 63 +- ?

Any warnings or tips would be appreciated. Thanks

 

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Carl:
If I knew the answer to that question I'd be rich.

However, lower mintage Barbers (who didn't see that coming) are great especially since they have a long way to go (in price).
Also, personally, I'd stay away from gold right now, unless I find it with my metal detector.

 

i'd rather go with silver. more bang for the buck. but im partial to silver anyway.

 

Being a Lincoln fan, Id suggest buying a few good books and picking up a few MS65RD or higher RD pre 1934 Lincolns. Buy scarcity, strong strike,PCGS and RD
The 72 Double Die in higher grades is available and always going up in value as far as later dates.

 

I'm so dumb...what is RD?

 

Buy a 1884 proof 3 cent piece... Im looking for one. lol

id say buy gold ..

 

Carl:
You are not dumb, we just make too many assumptions.
RD= Red (as for a cent, = original color)
BN= Brown
RB= Red-Brown

 

If you don't know whar RD means, then you really should spend some of your funds on coin books. Scott Travers "survival manual" would be a good start. I'd further recommend you learn how to identify well struck coins since all coins are not created equal.

Also, may I suggest that investing in an area that you are not familiar with is a recipe for disaster, not to mention that most coins aren't always a good investment. There has been a huge runup in prices over the last several years which could result in your getting in at the high end. Something to think about.

If you enjoy collecting coins, buy the coins you like regardless of their upside potential, and until you feel confident in your abilities, find a dealer that is knowledgable and trustworthy.

 

vavet:
Good suggestions. I might add:
1) Buy a copy of the Guide Book of US Coins (da Red Book);
2) US Coins Grading book, I am partial to Whitman's Guide on Grading;
3) A reference book on the series that interests you;
4) until you are comfortable with your grading skills -- buy slabbed coins only.

 

Treashunt's Signature states:

"Buy The Book Before The Coin!"

Sound advice.

Reagrds,
S

 

First question to answer, "Why am I buying coins?"
An interest in collecting or for investment purposes or a combination of both?

Then answer the question, "What interests me?"
No use buying WL halves if you like Buffalo nickels.

Next question is "What would please me?"
Are you a hole-filler or do you want quality?
Would one key/semi-key really do it for you or would you prefer a bunch of reasonably high grade common date coins?

For investment purposes get the very best key/semi-key that you can afford.
For collecting purposes, choose a minimum grade you'll accept and get as many as you can while the money holds out.

 

Based on your post and questions, my guess is that you are almost certainly going to end up making bad purchases/"investments". My advice would be to leave almost all of your money at home and look at a lot of coins (but don't buy any yet), buy a couple of books, read and learn about coins and the market and come up with a plan. THEN, much later, think about which coins to buy.

 

If you are looking at your purchase as an "investment" (which is a bad idea, in my opinion), then I would suggest that you focus on those coins with gold/silver that can be bought for very close to spot:

1) Junk silver coins
2) SAEs/GAEs
3) Generic/common earlier gold (for instance early 1900s double eagles in 62).

Respectfully...Mike

 

p.s. I agree with Mark's observations/advice above too. I would suggest you go to your first show and just look. Spend $100 on something that catches your eye, if you must.

 

Excellent suggestion if you are a first-timer at a coin show.

IMO using bullion as an investment at this time is NOT a good idea unless you're confident it's going to continue to rise in value.
Keys/Semi-keys are a LOT less subject to the whims of the bullion market.

 

I'm with ya. Jim Halperin's "How to Grade US Coins" is good, as is the ANA Grading Standards.

But there is a limit to how much one can learn from books !

You can't learn to play a musical instrument from books.

You can't learn whitewater kayaking from books.

And you can't learn to grade coins just from books.

In all cases, ya gotta get out there and give it a go... and a coin show is a great place to learn.

Ask lots of questions. Pick a series you admire - maybe Morgans, whatever - and check out several examples cerified by the same service (maybe NGC) in different grades.

Take a look, and try to see what is the difference between MS63, MS64, and MS65.

And ask the dealer what is the difference between MS63, MS64, and MS65.

Repeat many times.

And just like musicians and kayakers develop "muscle memory" - it all becomes smooth and natural - grading coins will become smooth and natural.

It takes practice.

 

all great suggestions. Being new myself, i highly recommend the red book and the ANA grading standards book. It shows you coin by coin what to look for, it what areas. It really has been a great help to me. Also, if you arent buying as an investment, and just doing it for enjoyment, develop a plan. Look at the red book, decide what coins interest you and decide if they are in your budget. I love silver coins, so i decided to put a set of mercurys together. Its a beautiful set, not to hard. A few key dates will dent the wallet a bit, but absolutely possible to get. Good luck

Greg

 

This is great advice. But if you plan to spend the $1,500 anyway, and the goal is investment, then try to purchase bullion coins near bullion value. Gold, platinum and silver are all good choices if you plan to hold for, say, ten years or more. If you can buy them slabbed for little or no additional cost, it's worth it and might make them easier to resell someday.

 

Which begs the question "How do I look at coins ?"

Mark had a great post about this a while back... I was taking notes. It changed some of my habits. Here it is...

http://www.cointalk.org/showthread.php?t=32058

 

Wow! You all have given me SO much to think about. Buying the books is a definite for me. As far as what I am interested in, I would say quality over quantitiy. Key dates in good condition.

I have quite a large collection of silver coins, especially Mercury dimes, Walking Liberty Halves and Washington quarters, so the gold is a bit appealing just to add a bit of diversity. But, as stated, it is really high right now.

I started my coin collecting back in High School...a long time ago. Some of the junky coins I put in folders then are still pretty junky today. If I buy and when it will be something that 25 years from now my Grandkids can look at and say...Pa Pa bought some great coins...I sure am glad he did!

BUT...after all the advice I believe I will leave most of that money at home this time...buy a couple of books, especially on grading and sit tight for a while. Thanks for the guidance!