Returning to collecting after 10yr hiatus; a few questions.

Well its been about ten years or so, wow has the gold market changed! I had mostly been collecting late nineties proof sets and silver eagles. Where is the best places to buy and sell coins? Ebay? Where can I find values of my coins, do I have to buy the red book? A couple eagles I have seem to be worth more than the others, any ideas why? I was thinking about selling off what I have and buying a 1oz gold piece of some type. Does this sound ridiculous? I had always wanted to collect golden eagles when I was younger but never had the cash. Another option would be to try to build a Silver eagle proof set..

This is my fist post, have mercy! And thanks in advance.

 

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That's a lot of questions, and I'm certain you will get a lot of interesting answers. Welcome to Coin Talk. Buying a Redbook first is a good idea. Selling what you don't want to buy what you want is a good idea. But don't be in a rush. Like you said, a lot has changed so take the time to understand it before you act.

 

eBay is okay if you know what you're doing. It is fraught with peril, though, and one needs to be savvy in order to not lose so much cash. You may want to try to find a dealer in your area who can help you get back in the game. Coin shows are really the best option, if you live within decent driving distance of one or two of them.

The Red Book won't tell you much about the current value of your coins. You may want to join eBay (it's free) and search "completed listings" to see what things are selling for.

Some of the silver eagles are more costly than others. 1986 and 1996 uncirculated come to mind as being lower mintages, and there are some good proof years too.

 

Welcome!

 

Thanks for the replies. I've been on ebay for more than a decade and I'll feel out the coin market there fully before jumping on anything. Thanks again.

 

I would recommend going to a dealer or a coin show.

Welcome to Coin Talk.

 

You sound a little like me when I started collecting again back in early 2000 Whitelight. Prior to that I was mostly a proof/mint set collector but with the help of all the folks on this forum I was shown that there is much more to collecting than just ordering stuff from the mint. As was already stated earlier by Borgo and Cloud coin shows are a great way to learn and collect at the same time. A trusted dealer in your area also helps but sometimes it takes awhile to build a relationship with guys like that.
I would definitely recommend purchasing a Red Book or borrowing one from your local library. It's a great reference source. This forum is another great resource for accessing information....ask lots of questions. There's always somebody around who can answer just about anything you want to know. Pick up a copy of Coin World if you want to get a rough idea of what a particular coin is worth. There are online sources too.
If you're looking to buy or sell check out the "open forum" right here on this site....the guys are great.


Oh.....BTW.....Welome to the forum.....

 

I'm in the Back To It crowd. However, I'm terribly apprehensive about Chinese counterfeits. They are ubiquitous.

So for now, until my feet get either wetter or broader, I'm sticking to the Mint like an old lost friend.

 

Welcome to the forum!!

Here is one free pricing service
http://www.numismedia.com/fmv/fmv.shtml

Also , sometimes the drive to get back into the midst of thing, we buy/collect an strange variety of series. It is difficult to slowly get your feet wet once again while you research and catch up to changes.

Take it slow and ask questions. Best to ask opinions before buying rather than buying first and hope the forum gives good reviews:headbang:

Jim

 

Hey. Welcome back! I just got back in after a 14 year hiatus. The internet will help get you caught back up pretty fast though.

I've practically worn the cover off my redbook. Sometimes for the price guide, sometimes just to see a picture, sometimes to look at mintage figures. Well worth getting one. They are a year ahead so 2010s should be coming out in a few weeks. You may want to wait for them now.

Here's NGC's online price guide. A little more up to date:

http://www.ngccoin.com/poplookup/NumismediaLanding.asp

You may have to sign up for free. Paid members can look at population reports (how many coins of each type that have been slabbed in all the grades.)

Other decent places to find real time values are Ebay or Heritage Auctions (HA.com). Keep in mind at Heritage, there's a 15% final sale fee tacked on to every coin though.

Some silver eagles, otherwise known as 'ASE's' for short, are higher because of the low mintages. They're all in the back of the redbook including the AGEs, mint sets, and basically everything the US mint has ever produced that has been documented.

Keep in mind that many series have had a lot coins melted down in mass by the mints, such as Morgan Dollars which had something like 270 million various types melted. So the mintage figures are original, but not what's left (of real ones) still in existence today.

Sometimes a coin such as a 1950-D nickel with a very low mintage, was known that it would have a low mintage when it came out and almost all of them were hoarded. Making them relatively cheap in high grades.

While other, higher mintage coins, may not have had many collected or hoarded, while most of them went into circulation. Leaving very few mint state examples which will command high prices.

Glad you've joined us! This is a great, active forum with many knowledgeable members that can help you.

 

Welcome to CoinTalk. Vess has given you some good advice.

I also recommend you get a good loupe (not a loop) for inspecting and grading coins and learn how to use it. A 6X or 7X is all the magnification you need for grading. 10X is too much for grading but is fine for variety attribution. You will need a good light when grading coins. Search the threads here and I'm sure you will find plenty of advice on lighting and loupes and how to use them.

I have an old Lou Reed album somewhere titled White Light, White Heat. Is that where your handle came from?

 

Take it slow and easy. Coin shows, internet searchs, this coin forum wonderful information. Pick a direction and go with it with the understanding it is all about the journey (funds you have as well) not about the destination. Heck that sounds just like life itself. You will figure it out, If you have plenty of funds, well the sky is the limit. Fixed budget, find a direction for which type of coins you really want, that are affordable. plenty for all out there. Beware of the TV guys pushing coins, typically rip offs. Local coin dealers will usally will be trustworthy and typically need business now a days. Good luck and good hunting.

 

I've got a 10X loupe which is very handy. Also My handle I just made up.

After doing some background research I've decided to try and put together a set of uncirculated ASEs. That will fit my budget well. Another question I have- should I have my existing ASEs graded and cased by PCGS or NGC? Is that the best way to preserve the investment and ensure a favorable return? Is it better to buy the coins and send them to either company or just buy a coin thats already been graded and cased?
I found a deal for a 2009 ASE for $13.90 shipped!