1937-D 3 Legged - Real? Cleaned? Grade? Fake? You judge.

What's that?

 

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I think he means buying coins off of sites like EBay and Hertiage and make enough money to make it worth it.

 

Heck from my experience if there's any money to be made it's researching and identifying error coins. I used to go to a coin show with my coin friend dennis and we would cherrypick the dealers' cases for AH (accented hair kennedys) and other error coins. Alot of the dealers weren't that familiar with error coins, and my friend dennis made quite a living finding errors and re-selling them on ebay.

Errors aren't my cup of tea however; you can make alot of money buying errors at coin shows and re selling them on ebay.

 

You know BNB, I have met you in person and you seem like a nice young man, very eager, industrious, and anxious to make a lot of money as quickly as possible. But you also seem like a kid in a candy store running from candy jar to candy jar not knowing which one to buy because he only wants the biggest and sweetest for as little as possible.

I wasn't going to post anything more on your threads because I find them very frustrating to read, but after I read Doug's post on this particular thread, I decided to add my one cents!

Each time I read one of your posts, I was reminded of that Cat Stevens song - Father and Son. You've probably never heard of it since he was popular in the 1970's, so here are some of the lyrics:

Father:
It's not time to make a change,
Just relax, take it easy.
You're still young, that's your fault,
There's so much you have to know.
. . .

I was once like you are now, and I know that it's not easy,
To be calm when you've found something going on.
But take your time, think a lot,
Why, think of everything you've got.
For you will still be here tomorrow, but your dreams may not.
. . .

It's not time to make a change,
Just sit down, take it slowly.
You're still young, that's your fault,
There's so much you have to go through.
. . .

I edited out the irrelevant parts, but you get the idea.

Please forgive my bluntness here, but perhaps being blunt may be what it takes for you to stand back and finally listen. BNB, with each post I have read, you seem more arrogant, flippant, and impatient. You continually ignore some of the most excellent advice I've ever seen about coins, advice you've asked for!

I know your youth makes you think you can buck the system, that you can do what others with MUCH more experience than you have already tried and worked many years to achieve, and that many have also failed at. You think you have some magic new method that will make buying and selling coins more foolproof, more profitable for you? You may get lucky on a few pieces here and there, but without knowledge, education, and experience you will loose a lot more money than you will ever gain in this business.

Doug's advice is excellent as usual - again - you would do very well to head it. But I'm afraid you're simply going to ignore it too. You seem to jump from coin to coin asking everyone here what they think. But it doesn't seem like you're actually LEARNING anything by doing this. You have no patience. You need to take a breath, start reading some books, attending more shows, and just LOOKING at a lot of coins, both slabbed and raw BEFORE you start buying a lot of coins for the purpose of resale. Find one or two good dealers or collectors who will take the time to mentor you in person about coins and the coin business, build a relationship with them, watch them - BUT YOU ALSO HAVE TO LISTEN TO THEM.

BNB, I've taken another half hour or so out of my life to again offer you advice. I hope at least a little of it has gotten through to you so this extra half hour of my life will not have been wasted.

 

I read your advice, Charmy. Including this one.

I have no problem listening, actually, I retained a lot of the words given to me by the likes of Doug and Mark Feld.

It's just that sometimes, I feel I should at least be rewarded for the good deals I do as well as be told about the bad. Both sides to a coin, not just a one way street.

I am learning BIG TIME because of Coin Talk. I am so much smarter because of all of you, but I still have a streak of independence that is very "buck the system like" that may cost me , or make me. I am willing to take the chance. Heck, since I was 1 year old I was like this, and I don't think it will change.

However, it still doesn't mean I don't have a high amount of respect for you as a person, Mark as a person, Doug as a person.

It's just that I don't like being talked "at" but instead liked being talked "to" like an equal. I know I haven't earned my spot in your world yet, but believe me Charmy, if or when you get to understand me better, you'll know that I'm probably one of the most passionate people you'll ever meet. I take my hobbies very seriously. This is not a full time job for me yet, but my uncle taught me(who is a millionaire selling high end cars), buy low sell high. He fixed up broken Roll Royce's in the 60's and sold them for a profit. In coins, you can't fix one up or that's called cleaning, but you can sure be a deal scout.

Look, do you think I've done real bad so far with the coins I purchased? I don't. I think my prices that I paid were very good and the coins themselves are gorgeous. Sure there were a few misses, but I quickly resold or am reselling them to get rid and bring in better.

So far, I haven't lost money and I believe with the system I have in place, if I were to resell my whole inventory today, on EBAY, I can make a buck.

That's my thought. Whether you agree or not is not for me to influence, but I hope you do

I'll be in this game for a long time. I can see it. I'm not just a fly in the breeze on Coin Talk. God willing, with moderators hopefully by my side one day(if some aren't now), I will be here for good. Hopefully eventually contributing instead of taking.

And yes, I am learning by asking all these questions. I will look at a few books though, that I will do.

Thank you.

 

I wish I had the chance to attend lots of coin shows...I think looking at as many slabbed coin is a great benefit not only to spot counterfeits, but to learn the diagnoses of each coin and grading. If you want to make a buck, get the cherrypickers guide to varieties and study it. Once you understand the different varieties/errors out there, you can go to coin shows and 'cherrypick' (what it's called) kennedy half dollars or other coins that are sold as regular silver.

But I think the first thing you need to do is get as many books as possible, read them all. For me, I hate reading. Actually, I can't stand it. Even if its a subject I like. But I found finding a subject I like and reading the same book multiple times makes a big difference.

I'm inspired alot by penny lady's story (you can read it on her website), she got books on grading ,counterfeit detection, how to spot problem coins and specialized books on what she wanted to study (indian head cents). She seemed to go from knowning nothing about coins to becoming a very knowledgeable specialist...if you read her story you will see she found one variety she paid very little for and it was worth thousands of dollars. That's why I think knowledge is key. If you know what you're looking for in coin shows you're more likely to find the great coin for profit.

I'm going to edit this post and post some good books for you to read. I think you should pick up some general books like Coin Collecting For Dummies (It's a good book despite the name...made by Ron Guth), PCGS Guide To Grading And Counterfeit detection, the ANA standards book, and then gradually go to books such as cherrypickers guide, buy some books on investing from Scott Tavers (Sp? I posted the book in the other thread)

here you go:
http://www.amazon.com/Coin-Collecting-Dummies-Ron-Guth/dp/0764553895
http://www.amazon.com/Official-Guide-Grading-Counterfeit-Detection/dp/0375720502/ref=sr_1_1?ie=UTF8&s=books&qid=1253495358&sr=1-1
http://www.amazon.com/Cherrypickers-Guide-Bill-Fivas/dp/0794822851/ref=sr_1_1?ie=UTF8&s=books&qid=1253495399&sr=1-1
http://www.amazon.com/Strike-Rich-Pocket-Change-Potter/dp/0896899411/ref=sr_1_1?ie=UTF8&s=books&qid=1253495431&sr=1-1
http://www.amazon.com/Coin-Collectors-Survival-Manual-6th/dp/0375723056/ref=sr_1_1?ie=UTF8&qid=1253495456&sr=1-1-spell
http://www.amazon.com/Numismatic-Photography-2nd-Mark-Goodman/dp/193399004X/ref=sr_1_1?ie=UTF8&s=books&qid=1253495500&sr=1-1
Grading standards (ANA)
http://www.amazon.com/Official-American-Numismatic-Association-Standards/dp/0794819931/ref=sr_1_1?ie=UTF8&s=books&qid=1253495546&sr=1-1
Alteration guide for semi key and key dates
http://cgi.ebay.com/Counterfeit-Detection-Guide-Book-Bill-Fivaz_W0QQitemZ330361703860QQcmdZViewItemQQptZLH_DefaultDomain_0?hash=item4ceb178db4&_trksid=p3286.m20.l1116
Detecting counterfeit US gold
http://www.amazon.com/Counterfeit-Detection-Official-Whitman-Guidebook/dp/0794820077

 

I got half those books you told me, remember you suggested them to me before? Thanks

 

I added some other good ones...Did you read the books you bought so far?

 

I'm going through parts, so no not completely.

 

Good for you man...man I hate reading..the PCGS book grading part just seems boring to me. I gotta get down serious and start reading the grading section more.

 

Thanks for the photo

Thank you for posting your photo! It is easy to see several of the key diagnostics of a genuine 3-leg. Too bad about the scratches but I really like the way it has toned.

I think Lehigh said he has been looking for a toned MS for several years. I passed on a toned MS 5-years ago because I didn't have the money at the time :headbang:. I'm still looking for a nice coin like the one I passed-up.

 

BNB, I will offer a cpl quotes here, one is my own, the other is from my mentor and good friend, Rick Snow.....his is first:

" There is no price to cheap for a problem coin " . Don't take it from me, take it from him.

The next is mine, in my 1st anniversary as a dealer thread, I'll paraphrase:

" I was dangerous to myself. More money than experience. I got hurt alot. "

Those are both very accurate statements. 3 Leggers are like SVDB's...every show of a decent size has dozens to choose from. I bought my last one in a NGC-58 holder with great color for $1650....why would you risk any serious money on a raw " questionable " coin when there are PLENTY of " pre-made " coins available?

Remember this, bargains hurt more when you sell than they please when you buy.

 

LOVE THOSE QUOTES!!!!!

Selling is where the problems could lye. Thank you my friend!

 

How much was that coin selling for?

 

I got him down to $1800 but then when i brought up certification and how i would eventually send it off to pcgs, he said, "This deal is NULL & VOID"

 

Doug, lol. you just reiterated what i meant.