thinking of making my first coin purchase

Okay people....I've had a $25 gift card for ebay since Christmas and haven't found anything to spend it on. I've never bought a coin and thought that this might be the time to do it. Only I have no idea if I would be getting a deal or not cuz I don't know value of coins yet. I'm gonna look at coins on ebay for the next few days. I'm gonna be out of town all day tomorrow but plan on starting Monday. Any tips or help would be appreciated.

 

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When you find a coin you like post a link to the auction for our opinion.

 

KD, I just scored an AU-58 Columbian Half for for $19.....you do that and you got 6 bucks left over.....

 

I will. I think I'm hitting the sack for now. I have to be up in 6 hours to go to watch my son play baseball in the cold and wind tomorrow! FUN! I will probably start my search Monday!

Thanks in advance for all your help! I wasn't sure when I'd ever decide to "buy" a coin since everything I have up to this point is from circulation either in change or roll hunting or from work. I still don't plan on buying coins after this either it's just I haven't found anything I want on ebay so figure this is something I would enjoy!

 

LOL I don't even know what that is. I'm going to bed right now for the night but I will start looking Monday! Gonna need you guys help! I want to make sure that my first purchase is a good one and one that I can feel good about!

 

How about an NGC MS66 Jefferson War Nickel.

 

The perspective of a fellow newbie:

What interests you on a broader level? Something modern or something older? A particular period in history? A particular major event? A coin made of precious metal (you'll be able to get something silver for that price, obviously no gold). A set of coins that appear to be in mint condition?

If a definitive answer emerges to any of those questions, you'll be able to narrow the field dramatically. I was in the same situation as you this past week, making my first significant purchase in the same price range. I began watching the morgans, and noticed that there were so many in the auction circuit that appeared more or less identical to one another in terms of quality, but ended up having significant differences in terms of the winning bid, probably because people were searching for key dates and getting in two way bidding wars. But if you're just starting out with a blank canvas, the date is less of a factor in my opinion. So basically I just ended up watching and waiting the expiring auctions for ones that seemed underbid and under $20, and swept in at the last minute and nabbed one.

I have a few specific tips for ways to get better value on eBay in general, so shoot me a PM if you want to chat.

 

Its hard to say but a AU Type I Buffalo Nickel is a good starter coin. You will fall in love with it once it is in your hand with a magnifying glass. Get a good strike. I don't see any that impress me on Ebay at the moment.

Mercs can be had in that price range as well, with terrific grades.
http://cgi.ebay.com/1942-D-Mercury-...rms=66:2|65:15|39:1|240:1318#ebayphotohosting

I don't know this seller and I haven't checked any pricing but I like the look of this raw coin



I don't vouche for any ebay sellers..

This link is your price range as I understand it:

http://coins.shop.ebay.com/items/19...91&_sc=1&_sop=15&_trksid=p3286.c0.m14&_pgn=11


My favorite coin for under $25 is proof Ikes

http://cgi.ebay.com/1971-S-Silver-I...|66:4|65:12|39:1|240:1318|301:1|293:1|294:200

This one might be photo magiced
http://cgi.ebay.com/1972-SILVER-CAM...240:1318|301:0|293:1|294:200#ebayphotohosting

These are in your price range:
http://coins.shop.ebay.com/items/Ei...=p3286.c0.m282&_mPrRngCbx=1&_udlo=20&_udhi=25

 

actually that Merc looks too good to be true at that price.

 

Some very good advice given above, if it is a nice American coin you want why not try the Ike's in my own opinion they realy are great coins and of course you could allways go for a Morgan But before you jump in and buy check out what world coins there are on offer.

 

I won't tell you what coins to buy or not buy, but I will tell you what I've observed. I do a great deal of market speculation and not much buying on ebay as of late. The biggest things I've seen people overbid on is Lincoln cents and buffalo nickels. Many are either obvious problem coins, or AG-G coins made to look better with fancy camera and light angles. I would strongly recommend buying a good price guide and
get familiar with the grades of the particular series you plan to start. I'm also a big fan of the Redbook not so much for its price guide (it's a tad inflated in a few series), but the great deal of numismatic information it offers.

 

Kind of beat me to those suggestions.
Oh and here is one more suggestion that would be the best one you could make. Give that gift cetificate to someone for an Easter present.
Better to make someone else think your nice than you getting burned on an ebay purchase.

 

Such cheerfulness. Maybe she should quit collecting while she's still ahead. The dog will eat her coins anyway.

Ruben

 

I would find a design you really like and buy a nice example of that. I think a good first coin would be a more common date in nice condition. That way, you have a nice pristine example of a coin design you really like.

For example, when I first started collecting I realized I absolutely loved the Morgan Dollar. The first one I bought was an 1881-S without knowing much about the coin. To this day, that is my favorite coin in my whole collection. It's a nice BU with an almost PL look to it and an excellent strike. I later learned that the 1881-S is known for it's exceptional strike quality and large number of BU examples still in existence. So, a wonderful looking piece can be picked up inexpensively and you will see all the intricate details of the coin that are lost on some lesser stuck dates.

 

My actual fear is not of my dog! LOL But of my 2 teenage boys deciding they want something and grabbing a coin or note that I have saved! I think I'd be strangling me someone!

Maybe I'll buy a book on coins or currency instead of a coin. I'm really not sure I want to buy any yet. I'm kind of weird in the fact that I like that all of my stuff came from circulation. I know it's nothing special like the things that I've seen you guys post but it's special to me.

 

Your said it here better than anyone else. A book never hurts and can help you learn. That is the best suggestion I have heard.

 

Okay then what's a good book to look for? I have......
2009 Red Book United States Coins
Coin Collecting (a beginners guide to the world of coins an official whitman guidebook)
Strike it Rich With Pocket Change
A Blue Book (like the red one but not in front of me right now so not exactly sure the name)
A Guide Book of United States Paper Money

Any other ideas?

 

Heck yeah ! Now we're talkin'. :thumb:

Get a Red Book. Even a used one is fine. It will show you the entire series of US coins. Save up those gift certificates for a $4 gold stella ! (hint - they cost more than $4... :bigeyes

 

LOL I have a red book. I posted the list of the books I have above. Any other ideas?

 

A book is safer from ebay but I bet if you get a couple of nice Mercs you'll be very happy. When I have just a few bucks I tend to buy from my local dealer who might be a tad expensive, but he gives me good raw coins and fun stories. I tend to buy from ebay only modern proofs because they are safe, or Ikes. I didn't buy anything from ebay for years because of their unfair EULA (user contract).

I by bigger purchases from Heritage, slabbed coins. I also buy cheaper stuff from on line dealers like cheapslabs and such. If I'm shopping for something very serious, I can buy it nearly from anyone who I research and trust. The seller and the item (the specific coin) is then more important than the price, assuming I can afford it and its reasonably in the ballpark. I'll also cruise shows for midrange items and to fill in my kids collections. I never drop a lot of money on a single item at a show. I refuse to give into the buying impulse that shows generate. I need to think about it more. Otherwise I can destroy my finances...and they are always teetering anyway.

Another problem with ebay and auctions is that they are addicting by nature. When I used to buy computer parts on ebay I always ended up with 2 or 3 of everything I originally intended to buy. So I just don't do it anymore and generaly purchase only buy-now items.

Ruben