This is on my local coin club's website. I found the "rules" to be a good guide to enjoying the hobby. What do you think? TEN RULES FOR COIN COLLECTING[FONT=±¼¸²][/FONT] 1. Learn to grade your coins accurately. [FONT=±¼¸²][/FONT] 2. Build a reference library for the coins you plan to collect. [FONT=±¼¸²][/FONT] 3. DO NOT clean your coins, and don't buy cleaned coins for investment. [FONT=±¼¸²][/FONT] 4. Don't buy coins directly from the Mint. 95% of the time, you can get them cheaper after the market has settled down. [FONT=±¼¸²][/FONT] 5. Check out dealers (try the BBB) and get on a first-name basis with a good one or two. [FONT=±¼¸²][/FONT] 6. Don't buy coins by mail unless the dealer has a reasonable return policy. If there is no return policy, chances are the coin is overgraded. [FONT=±¼¸²][/FONT] 7. Never buy coins from QVC, Home Shopping, a telemarketer, a newspaper or magazine advertisement, or any TV commercial. [FONT=±¼¸²][/FONT] 8. Focus on quality, not quantity. Quality will make you money. Quantity takes up space. [FONT=±¼¸²][/FONT] 9. Be active in a coin club. The more active you are, the more you will learn and the more you will enjoy the hobby. [FONT=±¼¸²][/FONT] 10. Collect what you like, and learn the history of what you collect.[FONT=±¼¸²][/FONT]
Great rules Cat, except that I don't agree rule # four. I have too much fun collecting stuff from the mint and could care less if the aftermarket sells for less.
Squandering a 17 point first half lead was depressing. The Boilers are typically an inconsistent program (perhaps consistent in losing to ranked teams). I'm going to see them play Michigan on November 1st where I expect the Wolverines will be taken down a further peg from their usual high flying history. But, we are off topic and can't let football passions derail a coin thread!!!!!!
Sorry.....don't know what came over me. Never meant to derail. Back to topic: Rule #7 is especially important. Too many young as well as inexperianced collectors make a rule #7 mistake. I know because I've been there and done that. Wish these rules were posted back years ago when I re-entered the hobby.
Rule 3.5.1 Rule 3.5.1 It is your responsibility to preserve your coins so that future generations can also enjoy them. Very best regards, collect89
I wonder if the order those are in is supposed to be important? To me #1 is important but not the most important for just being into coins as a hobby. #2 Not sure why it's important to also accumulate a library on coins of any kind for just a hobby. If you build model cars you don't need a library on cars. #4 is rediculous. Just where can you buy the latest proof sets for less. Maybe in several years, if the value is down, if available, etc. #8 is also rediculous. It is intended for professionals only. The greatest amount of coin collectors collect coins for fun. So what if they take up SPACE. I also collect some older cars and they take up a lot more SPACE than coins. Many people collect all kinds of things that take up SPACE. #9 is nice if you live in an area where there is little to no crime. In high crime areas criminals join such clubs to find out the addresses of members. There are very little clubs in my area and the ones that there are, are attended by people that will not reveal their names even. The others are OK.
To add a few more: - KNOW what you collect, knowledge = power/$ - collect what you like and be careful to not confuse collecting with investing - the more you look at, the more you see
Mostly good rules. I don't completely agree with #4 And #8 isn't good for some people. People collect what they like. And to alot of people, that doesn't include high-grade stuff. There is nothing wrong with collecting coind that some people wouldn't consider "quality" and if thats what you like then that is fine.
i respectfully partially agree. make sure your seller knows less than you do for world coins you will always come out ahead. P.S dont try this for us coins in the us
Well - #4 I am not sure I agree with. And on #8 - I would define quality as best quality you can afford. I have some AG large cents I like as much as my XF's, but it is a personal choice. I think I understand the point, not sure others will.
Here is a suggestion. Print out this series of replies and submit them to your coin club. Nothing to loose and maybe a newer set and more complete set of rules.
I will soon be speaking to a group of people about coins and such. I think one of the most important things is the handeling of coins and protection. Thanks for your suggestions! Gustaf 16
