New Collector, conflicted!

Unfortunately, there is no international organization that can guarantee that you might not purchase a fake. Any dealer can mistakenly sell a fake...what's important is whether the dealer has guarantees.

 

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Welcome to ancient coins - it is amazing what even a modest price can buy.

While I can see value in the reassurance that the coin is genuine, for me looking at or photographing a coin in a slab takes away much of the enjoyment. Any slabbed coins that I have purchased are no longer in slabs, but I do keep the tags and NGC numbers as evidence that the coin is genuine. If I collected FDC coins with extraordinary value, I might also value the protection that a slab affords (but I don't collect these coins).

 

Well, I am not a young man.....lets say, later middle age (58). My journey is similar to many of you.....started in US Coins, when very young.....single digits. Collected on and off for years, mostly due to the money constraints of a family, 4 kids, and, eventually a divorce, when things REALLY got tight....I got all the kids, but had to pay alimony! Anyhow, I digress...
Kids grown, still paying alimony, but fewer mouths to feed freed up some cash. Then I grew, lets say disenchanted, with US coins and the Mint.....it seems the investment folks have pushed the pricing of the nicer coins beyond what many hobbyists and myself can afford, and the Mint panders to them as well with how they sell new offerings (I know, I know, its a cash world, but I subsidize the mint being a longtime collector and a taxpayer......bah).
I stumbled onto ancients at a show and conversed with some very enthusiastic collectors and dealers. Bought a couple Roman Imperials, and off I went!
As for breaking out......you have me convinced......I will break out when the time allows....Ive a die grinder and know how to use it....the edges, of course. Then I can more easily photograph both the coin and the slab. Frankly, I will likely keep these coins until I die, unless I have a grandchild who values them.......

 

Think I’ll state my opinion with a song.

 

@KeviniswhoIam I'm with you. The stuff from the mint holds no value. You can look in the Red Book and see original cost vs current value. Mint sets and Proof sets are mostly down from original. Many special items are the same in current market. When they are hot they are hot, when they are not they are not.

 

Im not even speaking of current value.....I just hate that they dont really seem to care about collectors, and the investment people have completely muddied the water while the Mint gives a nod to them.
The end of World War Two piece coming out November 5th....1945 pieces?! I wonder how many will go direct to a collector versus to an investor who will just raise the price enormously to a collector for personal gain and profit? I dont know the answer here....maybe simply look at longest purchasing histories from the mint....I go back to the early 70's.....and then limit one per person? I know, I know, even issues with this, but man.....its dissapointing for US collectors, given the issue should be for collecting....

 

The only way to stop it is for the collectors to stop recognizing these as collectable. You can't even get one S Mint circulation grade quarter without paying a premium; actually 2 premiums (the mint premium and the dealer premium). There are some on here that will disagree with me, but, I am betting the mint product line is heavy in lobbying money somewhere. I quit buying US Mint Commemoratives several years ago. And I have everyone up to about 2018.

 

I am going to give a very conflicting answer. I do not like slabbed coins but right now I am contemplating getting my primary coins slabbed. I have no intention of selling my main collection but I do not want to leave a mess to my Mrs. Slabbed will have the needed info for each coin. The next owner can liberate the coin if they want. I am not to old, ( 50's) but you never know.

 

What makes something collectable? Presumably it is interesting. Mentally stimulating. You can be proud of knowing what you know about it (very high grade for type?). It's neat. Others will think you have something special or worthwhile. (I wish other readers would add to this list of reasons to collect.)

One other reason is that you already collect something and the item helps fill a set. A 1914-D cent is pretty much like the other early Lincoln cents, but if you collect Lincoln cents you know the 1914-D is special and you want it, or "need" it. It's in your mind.

It's a decision. Are US mint commemoratives neat? Are you proud to own them? Is it a set that requires completeness? What is the motivation for collecting them at all? You started and have too many to quit?

Collecting is a hobby of the mind. US history is interesting, but I am of the impression that most collectors of US coins don't stop with a type set illustrating its history. They would run out of things to collect. They must continue with things only of interest to collectors only because they learn to play the game. They have to redefine "interesting" to include tiny differences in grade or other concerns that seem cult-like. Many questions in the US forum are about grade. If you can't tell how interesting a coin is without knowing its grade you have joined a cult and succumbed to its dogma. A doubled-die coin is of no intrinsic interest. Admit it. Collectors have told collectors to care and they joined the cult. Worship the grade and worship the doubled die or be shunned!

On the other hand, some collectors collect types of genuine interest in series areas where you won't run out of things to collect. Some people think Roman history is interesting. It is well-illustrated by ancient Roman coins. Others prefer Greek history. Many collectors of US coins have reasons for not delving into ancient coins (haven't heard of them, don't know any Roman history, don't know they are easily available, expect them to be too expensive, don't have a mentor, don't know where to learn enough about them to not pay too much or buy fakes, don't want to learn anything new, etc.).

Many of us who collect ancients started with US coins, but switched and are very happy about it and would be glad to tell others how to switch to collecting real coins made to be spent. You will not have to be mad at the US Mint. Start here:

http://augustuscoins.com/ed/numis/

or at some of the many CoinTalk threads for beginners such as:
https://www.cointalk.com/threads/where-to-begin.339487/

More are listed here:
http://augustuscoins.com/ed/threads.html

A recent purchase, costing $34 including S&H:



Roman emperor Aurelian (reigned 270-275), who had a very interesting career I won't describe here. I am just making the point a coin can be historical, worthy of lot of research (the part of the hobby that doesn't cost too much), and pretty nice for not a lot of money.
22-20 mm.
IMP AVRELIANVS AVG, radiate crown right, draped and cuirassed
CONCORDIA MILITVM (he is getting along with the army--necessary for survival!)
If you know nothing about ancient coins, there would be a lot to learn about this one coin. It would be lot of fun. Join us. We would be glad to help you come over to "the dark side."

 

I am 77 and have a similar issue - too many coins of too many grades and value. But, I have 3 sons and 3 daughters that I am getting oriented to understand that this stuff is worth more than what it appears to be worth.

 

You are absolutely right. However, I feel that manufacturing collectables is something that should be left to The Franklin Mint and other such enterprises. I ran out of stuff to collect and went to Ancients about 2 years ago. I have about 100 fairly nice ones that I have cleaned myself. My collections consists only of what I have been able to clean and identify.

 

I have a suggestion. If the coins are in flips you might color-code the flips of coins worth slabbing and not slab them now. Say, red on the flip makes it worth slabbing later. Write instructions telling your heirs how to get them slabbed with the address ready to go and all, and the name of the dealer you wish to use to sell them. I have several levels of color-coding on my flips, each with clear instructions of what to do with coins of that color.

With that approach you would not have to slab coins now that you would appreciate for years in their unslabed status. Maybe in the future you will want to do something differently. Why lessen your enjoyment now? In any case, heirs need clear instructions of what to do with coins. I have heard stories of widows being ripped off because they had no idea what they had. You don't have to teach your spouse numismatics, but you should make it easy for them to unload your collection in case you die. Color-coding flips and a page of instructions will do it.

 

Good Advice @Valentinian , any way I look at it I need to reorganize. The main collection is kept accessible in case books , they are sorted by chronological order/ Sear number.

 

Even though the dealer has guarantee but when the fake is a good fake and not easy to prove then what is the use of guarantee in such cases? Many fakes have been found by chance when another pair is seen for sale. Plus what if someone finds his coin is fake after 20 years by the time the dealer is no longer in business?

 

This is my first post in this group as I just joined. I have also been collecting ancients a little over a year and knew I needed to focus so I began with Severans (only because my first coin was a Caracalla) Suffice to say I knew nothing about this period of history when I began. It has been a blast! As I view various auctions I can feel the pull away from my 193-235 date range, (plus I must confess I bought a fair number of Parthian drachma as a side interest) but it has helped me to have this specific area of focus. Been making checklists lately; which Severans are available by city on Syrian tetradrams, a list of the 3-400 provincial cities which minted coins during my period of interest. Recently been focusing on the Julias- what a family!

 

Rather than slabbing everything or color coding, I would concentrate on finding someone you would trust to help your family with the coins when you are gone. I currently have three names on my 'contact on death' list. At least one of those names should be a professional dealer with whom you have discussed the matter. It would be best if the people on the list were younger than you and you might have to change people as circumstances change. I have changed my list a couple times in the last couple decades. Relatively few of us have collections that should all be sent to one dealer for disposal. Having someone preselected that you would expect to know the market at the time and providing contact information makes sense to me. I hope we all live so long that the dealer who handles our sale has not yet been born but, meanwhile, it is good to have a plan B.

 

Additionally, we should have someone set up with our user name and password so they can post here and let our friends know we are gone.

 

And someone trusted to clear our browser history! (Joking....maybe!)
Great advice above....@dougsmit especially....but I need to get out more....I am the only one I personally know who collects ancients!