What advise and teaching you will share to a newcomer?.

what you will do to teach a new collector how to collect coins?. tell us all your ways and share to everybody. will you?.

sample: coin itself. holders and plastic cases, silica gel, safety storage, where to buy and sell, slab it or not, books and magazines, online and websites, grading, dealers and coin stores, auctions and coin shows, cleaning and dipping, mint mark and toning, kinds and types of coins, u.s. and foreign, different metals, and finally coin forums.

 

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Learn to grade for yourself and only buy slabs from ebay. Buy the book before the coin (preferably red book). Don't spend a lot of money on a coin unless you really know what you are doing.

 

As time goes on you will come to see getting good value for your money is very important. At first you just want to scramble to make a collection but you'll find that you are limited by your finances so you want full value. The only way to achieve this is to learn what coins are worth and the easiest way to learn is to sell coins once in a while. Most collectors learn that their coins are worth much less than they had believed and that they've been paying too much.

Go slow at first and go slow with new trading partners, buyers, or sellers. There's no race and you'll enjoy your collection and the hobby more if you don't make a lot of huge mistakes.

Don't invest in coins. You might or might not make money collecting them but it's the investors who have big losses and are left with a sour taste in their mouths.

Have fun and have at it.

 

I’m not exactly a newcomer, still some…ok, lots of egg shells still hanging.
But I’m listening and ready for my knocks.
I have been humbled here at CT.

 

don't collect coins. Its a dumb hobby with no point. If you want to be made fun of for being a nerd and a stupid wimp then go ahead. If you want to get the snot beat out of you by old ladies then go ahead. Do as you please, but don't whine to us when you come back with missing body parts. The truth hurts, don't it.
















April fools. Just kidding. This is the best hobby in the galaxy. The hobby of Kings. Collect what interests you and Study!

 

TOO LATE :crying:AND...AND...IT DOES HURT:crying:

LOL HILARIOUS

 

The best advise I have ever been given has come from our administrator, GD.

You need to try to sell a few coins on occasion, or at least test the sell experience. This will make you more aware of what you buy, and in turn will make your buying habits improve. You will be a closer looker, recognise problems, tighten your grading , and overall...get a " feel for the market "

A book can not and will not give you a feel for the market. Testing the sell experience will do exactly that. YOu will learn from that, more so than any technical info you can gain from reading and studying. Keep buying those books tho, don;t get me wrong.

I cannot stress this enough, it is a must do on any new ( or old ) numismatists check list as you grow in this hobby. It will pay off in dividents forever.

 

A guy at work and I were yacking one day and the topic of coins came up in conversation. I told him I collected and he said he always wanted to. He loves the Morgan $ and wished he had one. I had just received a few from an inheritance so I looked through them and picked out a 1899O and gave it to him. He just about did a back flip. I did put one caveat on the gift. He had to buy a Red book, and read up on the coin. Well he procrastinated a bit and a few month's later still didn't have a red book. I gave him two days to either impress me with some tidbit from the Red Book or return the coin. Well he did get the book and told me his grade for the coin which I felt was a bit optomistic (he said AU 58 i think VF) so I let him keep it. Now he can't get enough. I wasn't very enamored with Mr. Morgan's cartwheel at first but now am researching price / grade for a collection of P mint coins. Not a week goes by that he doesn't bring in a show and tell item. Lot's of fun for me. I think I created a monster!

 

Holy cow I couldn't say it better myself.
Before I didn't really look at everything when buying a coin. Now that I sell kinda part time, I've been noticing I buy MUCH less and am way more picky.

 

Advice taken, Thank you.

Unfortunately I have learned by being burned
…and having the snot beat out of me. :stooge::hammer:

I have never sold a coin; although I have traded with “friends” and unfortunately again I have learned.

I am working on my grading via Redbook and others…i.e. CT, Dealers, and Internet.

Being patient has helped.

 

tell us your advise and teaching. and tell us how to link to you website so that we can see your opinion on how to teach the newcomer to collect coins.

 

Jack's advice from GD is the best in my opinion. Sell some coins you thought were decent investments. I have only sold to my local dealer though I will soon sell on eBay (have to input all my purchases into Quickbooks first for accounting reasons). Dealers will buy back for a lot less than you want to believe. Some coins you lose 30-40%, and some you can't sell back easily. Ebay is probably a good way to guage this and the auction houses even better- Heritage, Teletrade, etc..

 

The FAQ on CoinTalk:

http://www.cointalk.com/forum/f26/

The Numismatic Resources on CoinTalk:

http://www.cointalk.com/forum/f33/

 

my advise is that if you have spare money. buy it and do not sell until it is necessary.

 

There's only one thing to add to that advice: Set your own standards for what does, and does not, fit in your collection and don't let anyone bully you into using their definitions.

 

We teach all the time

see this thread, for example

http://www.cointalk.com/forum/t50795/

Also Hobo gives great nuggets, Doug is awesome, we have the museum in my sig, this places oozes teaching

Ruben

 

My advice? USE THIS FORUM!! Ask lots of questions. As a newcomer myself, I've already learned so much on this forum. One person that stands out in my mind is Numbers. I pretty much try to read anything Numbers posts now, just a lot of interesting things. But so many have so much knowledge that they are willing to share. All you have to do is ask!

 

thanks for all the advises. the lacking is missing the details. tell us more.

 

Yes, some even more than 40% and some are real hard to sell. So Im going concentrate on Key dates and Semi-Key dates. Because of a high demand they increase in value every year. Some say key are "over valued", but they keep increasing in value every year. I have proof sets that are 30 years old won't even sell for the issue price. Doesn't sound like a good investment to me.

 

Quit while you're ahead.

Seriously the best advice I could give a noob would be:

o No matter how smart you think you are, you are not smart enough to beat the coin game from day one. Plan on making mistakes and forget "collect the keys first" -- start cheap and make your lessons cheap as a result.
o Buying the book is great and you should seek out good numismatic literature, but seeing coins with your own two eyes is even better. More to the point, see 100 or, if you can, 1000 examples of a coin IN HAND before you buy one.
o Find a good mentor. Leverage their wisdom.
o Don't believe the price guides. Sell a few coins from time to time to get a better feel for the REAL value of your coins.
o There are good dealers to buy from, then there are good dealers to sell to. VERY rarely are they both. Seek out the ones that are and foster relationships with them. It will pay off.

Happy collecting...Mike