Hello everyone, I've read this site for awhile trying to learn a few things. And I'm interested in this hobby and just starting to get my feet wet. But I just have a couple of questions. Im starting out slowly learning as much as I can. But I would like to start collecting something. I just wanted everyones opinion on what I thought would be good starter sets. I really like the 50 state quarters and ASE coins. And I already have P&D mint roll sets of the Westward Journey Nickels and a few ASE proofs. Would it be good to start out collecting 50 State quarters in order to learn more about this hobby? And is it better to try and find PCGS or NGC slabbed coins, like MS65 or MS66 or to try and get rolls of BU coins? Also my father-in-law has an huge collection of thousands of coins that someday my wife and I will probably inherit. I dont think he even knows the extent of how many coins he has. But he likes to show me them when ever im over and I would like to know a little more about them because he really enjoys it. thx
Good to meet ya Gutshot. I'm not much into the "State Quarter" thing but with silver making some major moves lately I'd say go with the ASE's. Again, Welcome to the List. Bone
I think the state quarters are probably a great way to start out. It might be a challenge tracking some of them down in nice shape. I personally enjoy the American Silver Eagles. If you really like the silver eagles, you could try to put together a full run of them. You mentioned that you have Proof Eagles. Are they still in the Mint packaging? Have you thought about collecting the "uncirculated" silver eagles? For a bit more money, you could even get into the 1/10 oz Gold American Eagles after you get your feet wet. That would be great to have a father-in-law that's interested in the same hobby. You guys can have tons of great time together persuing your interest.
Since your father-in-law collects, seems for years, I would really speak with him on a few ideas.Welcome and stick around, knowledge is the key!!.
Try to stick with lower priced items until you learn the market and the basics of the hobby and collecting. It's not so much the cost that's at risk as it is the numismatic premium. The best way to learn values is to sell something so do this once in a while. The wanted sections in the coin papers will provide an idea of what coins will bring also. Remember buyers are tight graders so figure conservatively when you sell. You'll find you need to be conservative when you buy as well. Just about anything can make a good collectible for beginners but my favorite is the circulating coinage. One can assemble an important collection of some- thing like dimes or quarters for only a few dollars and learn a great deal in the process.
Coins are great to collect....we can't tell you what to collect but what you need to do first is read...read...read...read....buy the book before you buy or sell the coin. Find a coin that "rings your bell" and start by trying to learn how to grade that coin...look at many coins before buying...post some photos here and maybe we can help....try to find out how to tell if a coin has been cleaned...how to tell a circulated coin from a Un-circulated coin....Proofs from Business strikes... Talk to your father-in-law...I bet he knows more than he lets on...ask if there is a dealer or coin club in your town and get to them..... State quarters are great....for me they aren't much. I like coins from long ago....pre 1964....coins with small mintage...you can get a low mintage proof Cent from the 1800's for around $150-$250 sometimes. If you buy slabbed make SURE you stay with NGC/PCGS/ANACS/ICG untill you get used to grading...ICG will tend to overgrade on coins after 1964 so remember that. PCGS seems to overgrade some....I like NGC and ANACS the best. Starter sets....I would suggest looking in change for such things like Dimes from 1946-date...you can search boxes of rolls from the bank if you ask...Cents....Halves....quarters.... For cheap starters I would go with: Franklin Halves FRD Dimes Jefferson Nickels They are all pretty cheap to do in low grades....each sets has some harder to find dates but none of the sets should cost much...the Franklin set would be about the most...and it will be under $200 most of the time. Feel free to ask many many questions! Speedy
The others here have already given you great advice. I would suggest collecting EVERYTHING, but from pocket change and bank rolls. Modern dollars, halves, quarters, dimes, nickels and cents. Buy the Whitman folders [pretty cheap], start filling them, and start upgrading coins in them when you find a better example. This will help develop an eye for coins in different metals and different sizes. It will help you to start noticing different grades. And it's virtually risk free because everything you obtain will be acquired for face value. After doing this for awhile and doing the mandatory reading that Speedy suggested, you'll probably develop a special attraction to something and be knowledgeable enough to collect it intelligently.
You mentioned your fatherinlaw has a hugh collection of coins. Is that really a collection or just a hugh pile of coins in boxes or jars. Some people have large amounts of coins just like that and they never realize the damage that happens when these coins bounce against coins. Let us know exactly what you mean by he has a large collection of coins. If that is an actual collection, then as already mentioned, he probably knows a lot about coins an could teach you many things. As to what to collect,that to has already been mentioned that it is really difficult to advise anyone on what to collect when it comes to coins. It's sort of like saying which car, truck, camera, etc I should buy or collect. Coin collecting is sort of like getting married. People will try to tell you who, what or when to get married but that's really up to you. However, since you asked I'll tell you what I've been doing for well over 50 years and it is a little fun, time consuming, profitable, etc. Start with a few books like the "Red Book" and "Looking Through Lincolns". Then go to a bank and buy a $50 dollar bag of pennies. Take them home and start searching for coins to fill albums and error coins to put aside. Try hobby stores for those little 2x2 cardboard holders for the error coins. Also, as already noted get the Whitman or any brand available coin albums to put the coins in. DO NOT get the ones that you push the coins into slots. Get the ones that have plastic covers on both sides such as the Whitman Classic Album. They cost more but you won't end up with finger prints on the coins or cardboard damaged backs.
One more thing about collecting such things as the state quarters. Many years ago there was a Mints great idea of making a Bi-Centenial coin. They made them in quarters and half dollars. Millions of people ran out to get as many as possilbe. One freind of mine actually ended up with well over $1,000 worth of the dumb things and all in Uncirc condition. I too was a dummy. I had hundreds of them for about 20 or so years. Then my friend and many others realized that since everyone did that, the coins values were for nothing. I put all mine back in change and so did my friend. If you look at the amount minted of the state quarters and the new nickels you will realize that in about 20 or so years you'll be saying "Gee I could have had that money in a savings account and made something"
Thanks everyone for the good advice so far. I think I will try some of the ideas that you all metioned. I really like the ASE's so I might try to start with them. As far as my father-in-law goes, from what he has shown me. I have seen everything from Morgans (always talks about his Carson City ones), Peace dollars, wheat pennies, mercury dimes, and ASE's. And I've only seen a fraction of what he has. Next time im up there in Jan. Ill ask to see some more. But mostly they are stored loose from what I've seen.
Meet the People who Make the Coins You Collect So do I! Some designs are better than others and there have been complaints about it in both the numismatic media and the mainstream news. Tennessee and Ohio, in particular, were accused of being clipart. Pennsylvania celebrated a statue no one had ever seen. The cliche coin is the state outline with state bird and state flower. I think that's South Carolina, but it could be a few more. Some designs are stellar and there is debate over which is the best. Rhode Island, Maine, Connecticut, and Nebraska vie with California and West Virginia right now. All of that aside, as a series, the coins are America. Basically, they express who we are as a people in a rich and complex way. The story of Connecticut's "Charter Oak" reflects the essence of American colonialism. Florida juxtaposed the space shuttle with a galleon. Ohio and North Carolina both claimed to be first in flight. My recommendation is to collect SILVER PROOFS. You can buy them in a coin shop for $5 or $10 each. Nothing strikes up as pretty as silver. Proofs are the highest state of the coiner's art, by definition. Also, unlike the so-called "classic" American coins, you can actually supplement your collection with first hand modern history. You can meet people who design coins. Dan Carr is one (see www.designscomputed.com). Glenna Goodacre (the Sacagawea Dollar) is another. Imagine having not just the coins, but a snapshot of yourself with the designer. We say that coins are history you hold in your hand. To that I add that history is made anew every day.
