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<p>[QUOTE=&quot;Mike Willner, post: 312972, member: 11144&quot;]My 9 yr old son Sam and I have just started collecting and needless to say he is thrilled to have another hobby to share with dad (we also paint and play with toy soldiers together). He is very psyched to build up his collection and since he has some of dad&#039;s purchasing power behind him (we split his purchases) he is always on the prowl.</p><p><br /></p><p>We were in a flea market today and he spotted a table with piles of coins in folders and bags. He found indian heads and nickels he wanted. Being new we had no idea of pricing, but even I could tell the coins were G or VG grade at best. The guy kept telling him how great a deal it was and how he would give an additional 10% off the price. Sam was hooked, and started asking, begging, wheedling to get a few. </p><p><br /></p><p>Not being sure I suggested the following. I said &quot;See, he is asking $12 for this 1889 indian head in Good condition at best, and $10 for this 1936 dime. Why don&#039;t we memorize these, check CoinTalk and a few other sites for prices, and see if he is at least in line with market.&quot;. Much to my surprise, Sam agreed. We committed a few more coins and prices to memory, thanked the nice man, and went on our way.</p><p><br /></p><p>Lo and behold, once home we discovered that the penny he was selling for $12 was readily available for $2 - 3. The dime for about $3, and so on. I asked Sam, &quot;How would you feel if you had paid all that money for coins that were simply not worth it?&quot; He agreed that as much is was tempting just to lay down the cash and walk home with the coin it was much more worth it to lean the real value and be prepared to collect responsibly.</p><p><br /></p><p>The very important lesson we both learned today was that you must know what you are looking at, what it is worth in the market and then decide what you are willing to pay. Blind, pot shot buying (at least for more then $.25 a coin for world coins out of the big assortment tubs you find here and there) is not satisfying. It is accumulating, not collecting. Paying too much for a coin is not a sign of dedication or collecting zeal; it is a sign of impatience and undisciplined acquisition.</p><p><br /></p><p>Important lessons indeed, and ones I think will serve Sam (and me) very well in life and in coin collecting.</p><p><br /></p><p>Mike[/QUOTE]</p><p><br /></p>

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